Citizens & Northern Corporation Reports Record Third Quarter 2026 Net Income of $16,285,000 and Increases Quarterly Dividend to $0.30
Citizens & Northern Corporation Reports Record Third Quarter 2026 Net Income of $16,285,000 and Increases Quarterly Dividend to $0.30
Citizens & Northern Corporation announced its unaudited consolidated financial results for the third quarter ended September 30, 2026, reporting record net income of $16,285,000, or $0.92 per diluted share. This compares to net income of $14,057,000, or $0.79 per diluted share, for the second quarter of 2026, and $6,551,000, or $0.42 per diluted share, for the third quarter of 2025. For the first nine months of 2026, net income reached $30,615,000, or $1.72 per diluted share, up from $18,961,000, or $1.22 per diluted share, in the corresponding period of 2025.
In tandem with the earnings results, the Board of Directors of Citizens & Northern Corporation declared a regular quarterly cash dividend of $0.30 per share, representing a $0.02 increase from the previous dividend declared in July 2026. The dividend is payable on November 13, 2026, to shareholders of record as of November 2, 2026. President and CEO Brad Scovill attributed the increase to the Board's confidence in the company's prospects for continued strong earnings performance.
The company's third-quarter performance was bolstered by net interest income growth and a credit for credit losses of $3,171,000, which was driven primarily by changes in qualitative factors and a reduction in loans receivable. Pre-tax, pre-provision net revenue, which excludes the impact of the credit for credit losses, rose to $17,464,000 for the third quarter of 2026, up from $15,815,000 in the second quarter of 2026. Total loans receivable decreased by $17,452,000 during the quarter to $2,331,395,000 at September 30, 2026, primarily due to payoffs and paydowns on several larger commercial-purpose loans.
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