Citizens & Northern Corporation (CZNC) Balance Sheet
CZNC balance sheet, 2025
December 31, 2025 · U.S. dollars$3.13B assets = $2.79B liabilities + $341.7M equity
Both columns are drawn to the same scale: what CZNC owns equals what it owes plus shareholders’ equity. Hover a block for its value.
CZNC financial health
Descriptive bands, not a rating. Fiscal 2025.
CZNC balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $1.24B2016 | $3.13B2025 | +10.8%/yr | |
| Total liabilities | $1.06B2016 | $2.79B2025 | +11.4%/yr | |
| Shareholders’ equity | $186.0M2016 | $341.7M2025 | +7.0%/yr | |
| Cash & short-term investments | $427.2M2016 | $337.4M2025 | −2.6%/yr | |
| Total debt | $64.6M2016 | $193.1M2025 | +12.9%/yr | |
| Net cash (debt) | $362.6M2016 | $144.3M2025 | −$218.2M | |
| Working capital | −$613.7M2016 | $4.6M2025 | +$618.3M | |
| Book value per share | $15.422016 | $21.422025 | +3.7%/yr | |
| Debt / equity | 0.352016 | 0.562025 | +0.22 | |
| Shares outstanding | 12.1M2016 | 15.9M2025 | +3.2%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
CZNC assets
CZNC liabilities and equity
CZNC debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
CZNC balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $337.4M | $348.6M | $472.6M | $553.1M | $622.6M | $451.2M | $381.9M | $400.8M | $396.2M | $427.2M |
| Cash & equivalents | $46.1M | $126.2M | $56.9M | $55.0M | $104.9M | $101.9M | $35.2M | $37.5M | $40.2M | $32.1M |
| Short-term investments | $291.3M | $222.4M | $415.8M | $498.0M | $517.7M | $349.3M | $346.7M | $363.3M | $355.9M | $395.1M |
| Receivables | $11.6M | $8.7M | $9.1M | $8.7M | $7.2M | $8.3M | $5.0M | $4.0M | $4.0M | $4.0M |
| Inventory | $0 | $0 | $47.7M | −$64.0M | −$122.0M | −$117.3M | −$47.2M | $1.7M | $1.6M | $2.2M |
| Other current assets | $0 | $0 | $0 | $64.0M | $122.0M | $117.3M | $47.2M | $0 | $0 | $0 |
| Total current assets | $46.2M | $357.3M | $481.8M | $561.7M | $629.9M | $459.5M | $386.9M | $404.7M | $400.2M | $431.1M |
| Property, plant & equipment (net) | $27.8M | $21.3M | $21.6M | $21.6M | $20.7M | $21.5M | $17.2M | $14.6M | $15.4M | $15.4M |
| Goodwill & intangible assets | $74.9M | $54.6M | $55.0M | $55.4M | $55.8M | $56.4M | $29.6M | $12.0M | $12.0M | $12.0M |
| Long-term investments | $291.3M | $402.4M | $415.8M | $498.0M | $517.7M | $1.99B | $1.52B | $1.19B | $811.7M | $747.5M |
| Other non-current assets | $2.69B | $1.78B | $1.54B | $1.32B | $1.10B | $0 | $0 | $0 | $37.7M | $36.3M |
| Total assets | $3.13B | $2.61B | $2.52B | $2.45B | $2.33B | $2.24B | $1.65B | $1.29B | $1.28B | $1.24B |
| Liabilities | ||||||||||
| Accounts payable | — | — | — | $25.6M | $23.6M | $27.7M | $12.2M | $11.0M | $9.1M | $7.8M |
| Short-term debt | $41.7M | $2.5M | $33.9M | $119.2M | $1.8M | $20.0M | $86.2M | $12.9M | $61.8M | $53.2M |
| Deferred revenue | — | — | — | — | $21.8M | — | — | −$272.7M | −$241.3M | −$224.2M |
| Total current liabilities | $41.7M | $2.10B | $2.05B | $2.14B | $1.95B | $1.87B | $1.35B | $1.06B | $1.08B | $1.04B |
| Long-term debt | $160.9M | $205.2M | $145.7M | $39.4M | $47.7M | $16.6M | $6.5M | $35.9M | $9.2M | $38.5M |
| Other long-term liabilities | $2.59B | $33.8M | $58.8M | $23.2M | $28.0M | $54.6M | $52.1M | $0 | $0 | $0 |
| Total liabilities | $2.79B | $2.34B | $2.25B | $2.20B | $2.03B | $1.94B | $1.41B | $1.09B | $1.09B | $1.06B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $18.3M | $16.0M | $16.0M | $16.0M | $16.0M | $16.0M | $13.9M | $12.7M | $12.7M | $12.7M |
| Retained earnings (deficit) | $171.2M | $165.8M | $157.0M | $151.7M | $142.6M | $129.7M | $126.5M | $122.6M | $113.6M | $112.8M |
| Treasury stock | — | — | — | −$12.5M | −$6.7M | −$1.4M | −$4.2M | −$6.4M | −$8.3M | −$10.3M |
| Accumulated other comprehensive income | −$22.8M | −$36.8M | −$38.4M | −$49.9M | $5.0M | $11.8M | $3.7M | −$4.2M | −$1.5M | −$898,000 |
| Minority interest | — | — | — | — | — | — | — | — | $0 | $0 |
| Total shareholders' equity | $341.7M | $275.3M | $262.4M | $249.3M | $301.4M | $299.8M | $244.5M | $197.4M | $188.4M | $186.0M |
| Key figures | ||||||||||
| Total debt | $193.1M | $207.7M | $211.8M | $181.8M | $77.6M | $91.2M | $144.8M | $48.8M | $71.0M | $64.6M |
| Net cash (debt) | $144.3M | $140.9M | $260.9M | $371.3M | $545.1M | $360.0M | $237.1M | $352.0M | $325.2M | $362.6M |
| Working capital | $4.6M | −$1.74B | −$1.57B | −$1.58B | −$1.32B | −$1.41B | −$964.1M | −$652.9M | −$679.1M | −$613.7M |
| Tangible book value | $266.8M | $220.7M | $207.4M | $193.9M | $245.6M | $243.4M | $214.8M | $185.4M | $176.5M | $174.0M |
| Book value per share | $21.42 | $18.04 | $17.21 | $16.13 | $19.11 | $20.33 | $18.35 | $16.10 | $15.52 | $15.42 |
| Shares outstanding | 15.9M | 15.3M | 15.2M | 15.5M | 15.8M | 14.7M | 13.3M | 12.3M | 12.1M | 12.1M |
| Current ratio | 1.11 | 0.17 | 0.24 | 0.26 | 0.32 | 0.25 | 0.29 | 0.38 | 0.37 | 0.41 |
| Quick ratio | 8.38 | 0.17 | 0.24 | 0.26 | 0.32 | 0.25 | 0.29 | 0.38 | 0.37 | 0.41 |
| Debt / equity | 0.56 | 0.75 | 0.81 | 0.73 | 0.26 | 0.30 | 0.59 | 0.25 | 0.38 | 0.35 |
| Equity / assets | 10.9% | 10.5% | 10.4% | 10.2% | 12.9% | 13.4% | 14.8% | 15.3% | 14.8% | 15.0% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $579.4M | $53.4M | $337.4M | $333.2M | $343.3M | $523.2M | $348.6M | $592.6M | $501.6M | $451.5M | $472.6M | $481.8M |
| Cash & equivalents | $82.5M | $53.4M | $46.1M | $123.1M | $99.6M | $114.7M | $126.2M | $184.2M | $100.4M | $46.4M | $56.9M | $52.7M |
| Short-term investments | $496.8M | $532.2M | $291.3M | $210.1M | $243.6M | $408.5M | $222.4M | $408.4M | $401.1M | $405.1M | $415.8M | $429.1M |
| Receivables | $10.9M | $11.9M | $11.6M | $9.7M | $8.7M | $9.3M | $8.7M | $9.4M | $9.2M | $9.5M | $9.1M | $9.3M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | −$105.7M | −$51.8M | $47.7M | −$71.9M |
| Other current assets | $0 | $0 | $205.7M | $0 | $0 | $0 | $0 | $0 | $105.7M | $51.8M | $0 | $71.9M |
| Total current assets | $590.3M | $65.3M | $554.7M | $342.9M | $352.0M | $532.5M | $357.3M | $602.1M | $510.7M | $461.0M | $481.8M | $491.1M |
| Property, plant & equipment (net) | $26.7M | $27.3M | $27.8M | $21.1M | $21.2M | $21.3M | $21.3M | $21.5M | $22.0M | $21.9M | $21.6M | $21.3M |
| Goodwill & intangible assets | $73.3M | $74.1M | $74.9M | $54.3M | $54.4M | $54.5M | $54.6M | $54.7M | $54.8M | $54.9M | $55.0M | $55.1M |
| Long-term investments | $278.6M | $293.8M | $291.3M | $210.1M | $243.6M | $408.5M | $402.4M | $408.4M | $401.1M | $405.1M | $415.8M | $429.1M |
| Other non-current assets | $2.18B | $2.70B | $2.18B | $2.04B | $1.94B | $1.59B | $1.78B | $1.58B | $1.61B | $1.58B | $1.54B | $1.49B |
| Total assets | $3.15B | $3.16B | $3.13B | $2.66B | $2.61B | $2.61B | $2.61B | $2.67B | $2.60B | $2.52B | $2.52B | $2.48B |
| Liabilities | ||||||||||||
| Accounts payable | — | — | — | — | — | — | — | — | — | — | — | $30.7M |
| Short-term debt | $14.6M | $53.1M | $41.7M | $1.5M | $533,000 | $571,000 | $2.5M | $20.6M | $37.0M | $75.0M | $33.9M | $25.5M |
| Total current liabilities | $14.6M | $53.1M | $2.59B | $2.17B | $2.11B | $2.10B | $2.10B | $2.16B | $2.10B | $2.07B | $2.05B | $2.08B |
| Long-term debt | $155.4M | $179.5M | $160.9M | $172.8M | $183.7M | $194.2M | $205.2M | $205.2M | $205.1M | $162.3M | $145.7M | $188.0M |
| Other long-term liabilities | $2.64B | $2.60B | $36.6M | $30.1M | $30.5M | $30.5M | $33.8M | $31.9M | $28.4M | $26.7M | $58.8M | $0 |
| Total liabilities | $2.81B | $2.83B | $2.79B | $2.37B | $2.32B | $2.33B | $2.34B | $2.39B | $2.33B | $2.26B | $2.25B | $2.24B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $18.3M | $18.3M | $18.3M | $16.0M | $16.0M | $16.0M | $16.0M | $16.0M | $16.0M | $16.0M | $16.0M | $16.0M |
| Retained earnings (deficit) | $175.5M | $166.5M | $171.2M | $171.7M | $169.5M | $167.7M | $165.8M | $161.9M | $159.9M | $158.1M | $157.0M | $157.0M |
| Accumulated other comprehensive income | −$24.0M | −$24.8M | −$22.8M | −$26.0M | −$30.7M | −$32.7M | −$36.8M | −$30.1M | −$41.4M | −$40.7M | −$38.4M | −$59.8M |
| Total shareholders' equity | $346.1M | $335.6M | $341.3M | $294.0M | $286.4M | $281.8M | $275.3M | $277.3M | $263.2M | $261.7M | $262.4M | $240.2M |
| Key figures | ||||||||||||
| Total debt | $170.0M | $193.0M | $193.1M | $174.3M | $184.2M | $194.8M | $207.7M | $225.7M | $242.2M | $237.2M | $211.8M | $188.0M |
| Net cash (debt) | $409.3M | −$139.6M | $144.3M | $159.0M | $159.0M | $328.4M | $140.9M | $366.9M | $259.4M | $214.3M | $260.9M | $293.8M |
| Working capital | $575.7M | $12.2M | −$2.04B | −$1.82B | −$1.76B | −$1.57B | −$1.74B | −$1.55B | −$1.59B | −$1.61B | −$1.57B | −$1.59B |
| Tangible book value | $272.9M | $261.5M | $266.4M | $239.7M | $232.0M | $227.4M | $220.7M | $222.6M | $208.4M | $206.8M | $207.4M | $185.1M |
| Book value per share | $19.59 | $19.00 | $19.32 | $19.12 | $18.64 | $18.37 | $17.84 | $18.16 | $17.24 | $17.18 | $17.29 | $15.85 |
| Shares outstanding | 17.7M | 17.7M | 17.7M | 15.4M | 15.4M | 15.3M | 15.4M | 15.3M | 15.3M | 15.2M | 15.2M | 15.2M |
| Current ratio | 40.31 | 1.23 | 0.21 | 0.16 | 0.17 | 0.25 | 0.17 | 0.28 | 0.24 | 0.22 | 0.24 | 0.24 |
| Quick ratio | 40.31 | 1.23 | 0.13 | 0.16 | 0.17 | 0.25 | 0.17 | 0.28 | 0.24 | 0.22 | 0.24 | 0.24 |
| Debt / equity | 0.49 | 0.58 | 0.57 | 0.59 | 0.64 | 0.69 | 0.75 | 0.81 | 0.92 | 0.91 | 0.81 | 0.78 |
| Equity / assets | 11.0% | 10.6% | 10.9% | 11.0% | 11.0% | 10.8% | 10.5% | 10.4% | 10.1% | 10.4% | 10.4% | 9.7% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 6, 2026); data from EODHD.
CZNC financial position
At the end of fiscal 2025 (December 31, 2025), Citizens & Northern had total assets of $3.1 billion (up 20.0% from a year earlier), total liabilities of $2.8 billion and shareholders' equity of $341.7 million. It held $337.4 million in cash and short-term investments against $193.1 million of debt, a net cash position of $144.3 million. Its current ratio was 1.11. In the latest quarter (ended June 30, 2026) total assets were $3.2 billion and equity $346.1 million.
Related: CZNC income statement, CZNC cash flow statement, CZNC key metrics. See the CZNC stock overview for the latest quote and news.
CZNC balance sheet FAQ
What are Citizens & Northern's total assets?
Citizens & Northern reported total assets of $3.1 billion at the end of fiscal 2025 (December 31, 2025), compared with $2.6 billion a year earlier.
How much debt does Citizens & Northern have?
Citizens & Northern had $193.1 million of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was 0.56.
How much cash does Citizens & Northern have?
Citizens & Northern held $337.4 million in cash and short-term investments at the end of fiscal 2025; with $193.1 million of debt that is net cash of $144.3 million.
What is Citizens & Northern's book value?
Citizens & Northern's shareholders' equity (book value) was $341.7 million at the end of fiscal 2025, or $21.42 per share.
What is Citizens & Northern's current ratio?
Citizens & Northern had current assets of $46.2 million and current liabilities of $41.7 million, a current ratio of 1.11 (it can cover its short-term obligations).
How much goodwill does Citizens & Northern have?
Citizens & Northern carried $74.9 million of goodwill and intangible assets, 2.4% of total assets, at the end of fiscal 2025.