Citizens & Northern Q3 profit hits record on higher net interest income, credit benefit

Citizens & Northern

22/10/2026 21:20

Overview
U.S. community bank's Q3 net income rose sharply yr/yr to a record level
Company raised quarterly dividend by $0.02 per share to $0.30
Quarterly results benefited from credit for credit losses and improved loan workout progress

Outlook
Company expects prospects for loan growth to remain positive going forward
Company continues to expect prospects for loan growth to remain positive

Result Drivers
NET INTEREST INCOME - Higher earning-asset yields and purchase-accounting accretion lifted net interest income and margin
CREDIT LOSS BENEFIT - Changes in qualitative factors and lower loans receivable resulted in a $3.2 mln credit for credit losses
CORE EARNINGS GROWTH - Pre-tax, pre-provision net revenue increased quarter-over-quarter

Company press release: Full Story

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Net Income
 
$16.30 mln
 

Analyst Coverage
The one available analyst rating on the shares is "hold"
The average consensus recommendation for the banks peer group is "buy."
Wall Street's median 12-month price target for Citizens & Northern Corp is $27.00, about 5.3% above its October 21 closing price of $25.63
The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 10 three months ago

Reuters Recommended Reads
Oct 22 - Juniata Valley Financial's Q3 profit rises on loan growth
Oct 22 - S&T Bancorp's Q3 EPS rises to record high
Oct 22 - United Bankshares Q3 EPS beats estimates, helped by loan growth

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)