---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-24-000063"
form_type: "8-K"
ticker: "CZNC"
cik: "0000810958"
company_name: "CITIZENS & NORTHERN CORP"
filed_at: "2024-01-04T23:59:59+00:00"
generated_at: "2026-06-07T04:23:40.880531+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Citizens & Northern reprices AFS securities and BOLI; Q4 charge $0.08/sh expects recovery in 2024

## Summary
- Sold $45.5M AFS debt securities, pre-tax loss of $3.0M; purchased $13.7M new AFS securities yielding 4.83%.
- Initiated surrender of $14.3M BOLI (tax charge ~$950k); purchased $30M new BOLI yielding 4.41% vs 2.20%.
- Net Q4 2023 charge to earnings of $1.253M ($0.08 diluted EPS); management expects recovery in <1 year.
- Estimated positive contribution of $1.5M to net income in 2024 from reinvestment at higher yields.
- New BOLI taxable-equivalent yield 5.58%; sold AFS book yield 1.42% with 2.7-year average life.

## SEC filing metadata
- accession: 0001558370-24-000063
- form_type: 8-K
- ticker: CZNC
- cik: 0000810958
- company_name: CITIZENS & NORTHERN CORP
- filed_at: 2024-01-04T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/810958/000155837024000063/0001558370-24-000063-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/810958/000155837024000063/cznc-20231214x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-24-000063
- JSON: https://secwatch.observer/filing/0001558370-24-000063.json
- Plain text: https://secwatch.observer/filing/0001558370-24-000063.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.