C&N Q1 net income down 15% YoY to $0.35 EPS; NIM narrows, credit costs rise

CITIZENS & NORTHERN CORP

2024-Q1 EPS reported $0.35

Net income $5.306M ($0.35 diluted) vs $6.253M ($0.40) in Q1 2023.
Net interest margin contracted to 3.29% from 3.71% a year ago.
Provision for credit losses turned to $954K expense vs a $352K credit in Q1 2023.
Nonperforming loans rose to 1.03% of total loans from 0.81% YoY.
Quarterly dividend held at $0.28/share, payable May 17, 2024.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

CITIZENS & NORTHERN CORP reported the three-month period ended March 31, 2024 results: net income $5,306,000, or $0.35 diluted earnings per share, EPS $0.35 per diluted share.

Period: the three-month period ended March 31, 2024
Net income: $5,306,000, or $0.35 diluted earnings per share
EPS: $0.35 per diluted share
Result: reported results

Exact text from the filing

Citizens & Northern Corporation (the “Company”) announced unaudited, consolidated financial results for the three months ended March 31, 2024.

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Source: SEC EDGAR

accession 0001558370-24-005732

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