Citizens & Northern CZNC Q3 2026 earnings

“I am pleased with our record third quarter 2026 unaudited net income of $16.3 million or $0.92 per share. We experienced net interest income growth, 6 basis points of net interest margin expansion, our efficiency ratio for the quarter dropped to 56.11% and net charge-offs were low at 0.07% of average loans receivable. Results for the quarter included a benefit from a credit for credit losses that was caused mainly by changes in qualitative factors; having said that, we also experienced a reduction in nonperforming loans as we continue to make positive progress on loan workout situations. Pre-tax, pre-provision net revenue, which excludes the impact of the credit for credit losses, increased $1.6 million quarter-over-quarter. Although total loans receivable dropped for the second consecutive quarter due to pay-offs of a few larger loans, our origination levels have been reasonably strong and we remain optimistic about prospects for loan growth going forward. In light of our Board’s confidence in C&N’s prospects for continued strong earnings performance, we are pleased to announce a $0.02 per share increase in our regular quarterly cash dividend, raising the payout to $0.30 per share. This dividend increase reflects our ongoing commitment to creating value for our shareholders.”