Citizens & Northern Corp · NASDAQ:CZNC

Citizens & Northern — Investor Presentation (November 2014)

15 slides from Citizens & Northern's investor presentation, Nov 3, 2014

  1. Slide 1: Citizens & Northern Bank 1864-2014

    CITIZENS & NORTHERN BANK 1505 1864-2014

  2. Slide 2: Forward-looking statements

    A message from our lawyers: Certain statements made by management during this Advisory Board Presentation are forward - looking statements. Citizens & Northern Corporation and its wholly - owned subsidiaries (collectively, the Corporation) intend such forward - looking statements to be covered by th

  3. Slide 3: Comparisons to peer group data

    Citizens & Northern Corporation Comparisons to peer group data Peer group includes banks headquartered in Pennsylvania with assets of $700 million to $2 billion as of September 30, 2013, and one local New York State - based competitor. C&N Median C&N Multiple Peer Group To Peer Average Equity/ Avera

  4. Slide 4: Earnings Performance

    EARNINGS PERFORMANCE (In Thousands) 2014 2013 % increase (decrease) Net Income $12,718 $14,369 - 11.49% Return on Average Assets 1.37% 1.55% - 11.61% Return on Average Equity 9.18% 10.57% - 13.15% 9 months ended Sept. 30

  5. Slide 5: Shareholders' Value (Per Common Share)

    SHAREHOLDERS’ VALUE (Per Common Share) 2014 2013 % increase (decrease) Net Income - Basic $1.02 $1.16 - 12.07% Net Income – Diluted $1.02 $1.16 - 12.07% Dividends $0.78 $0.75 4.00% Common Book Value $15.14 $14.65 3.34% Tangible Common Book Value $14.17 $13.67 3.66% 9 months ended Sept. 30

  6. Slide 6: Shareholders' Value (Per Common Share) - Market Value

    SHAREHOLDERS’ VALUE (Per Common Share) 2014 2013 % increase (decrease) Market Value (Last Trade) $19.00 $19.94 - 4.71% Market Value/Common Book Value 125.50% 136.11% - 7.80% Market Value/Tangible Common Book Value 134.09% 145.87% - 8.08% Price Earnings Multiple 13.97 12.89 8.38% Dividend Yield 5.47%

  7. Slide 7: Balance Sheet Highlights

    BALANCE SHEET HIGHLIGHTS (In Thousands) 2014 2013 % increase (decrease) Total Assets $1,256,533 $1,232,952 1.91% Available - for - sale Securities 508,253 475,650 6.85% Loans (Net) 621,960 641,345 - 3.02% Allowance for Loan Losses 7,449 7,130 4.47% Deposits & Repo Sweep Accounts 988,294 968,298 2.07

  8. Slide 8: Off-Balance Sheet

    OFF - BALANCE SHEET (In Thousands) 2014 2013 % increase (decrease) Outstanding Balance of Mortgage Loans Sold with Servicing Retained 150,695 138,074 9.14% Trust Assets Under Management 812,376 760,964 6.76% As of Sept. 30

  9. Slide 9: Safety and Soundness

    SAFETY AND SOUNDNESS 2014 2013 % increase (decrease) Tangible Common Equity/ Tangible Assets 14.05% 13.86% 1.37% Nonperforming Assets/Total Assets 1.45% 0.83% 74.70% Allowance for Loan Losses/ Total Loans 1.18% 1.10% 7.27% Total Risk Based Capital Ratio (a) 27.39% 26.17% 4.66% Tier 1 Risk Based Capi

  10. Slide 10: Summary of Loans by Type

    SUMMARY OF LOANS BY TYPE (Excludes Loans Held for Sale (In Thousands) Sept. 30, 2014 June 30, 2014 Sept. 30, 2013 Total Residential Mortgage $365,656 $362,672 $375,979 Total Commercial 253,455 248,739 261,097 Total Consumer 10,298 10,203 11,399 Total 629,409 621,614 648,475 Less (allowance for loan

  11. Slide 11: Margin Compression

    MARGIN COMPRESSION 9/30/2014 9/30/2013 Interest Rate Spread 3.66% 3.92% Net Interest Income/ Earning Assets 3.82% 4.10% 9 months ended

  12. Slide 12: Average Daily Balances and Rates

    AVERAGE DAILY BALANCES AND RATES (In Thousands) 9 Months Ended Rate of Return/ 9 Months Ended Rate of Return/ 9/30/2014 Avg. Bal. Cost of Funds % 9/30/2013 Avg. Bal. Cost of Funds % Total Available - for - sale Securities $491,361 2.98% $455,892 3.17% Total Loans Receivable 627,810 5.48% 661,144 5.7

  13. Slide 13: Comparison of Noninterest Revenue

    COMPARISON OF NONINTEREST REVENUE (In Thousands) Nine months ended Nine months ended Sept. 30. 2014 Sept. 30, 2013 Service charges on deposit accounts $3,812 $3,825 Service charges and fees 405 444 Trust and Financial Management revenue 3,325 3,022 Brokerage revenue 682 586 Insurance commissions, fe

  14. Slide 14: Comparison of Noninterest Expense

    COMPARISON OF NONINTEREST EXPENSE (In Thousands) Nine months ended Nine months ended Sept. 30. 2014 Sept. 30, 2013 Salaries and wages $11,559 $10,771 Pensions and other employee benefits 3,563 3,165 Occupancy expense, net 2,002 1,859 Furniture and equipment expense 1,399 1,464 FDIC assessments 444 4

  15. Slide 15: Questions?

    QUESTIONS?

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