XML 45 R48.htm IDEA: XBRL DOCUMENT v2.4.0.6
Parent Company Only (Tables)
12 Months Ended
Dec. 31, 2012
Parent Company Only [Abstract]  
Schedule of Condensed Balance Sheet [Table Text Block]

CONDENSED BALANCE SHEET

      December 31,

(In Thousands)

2012

2011

ASSETS

Cash

$1,895

$1,361

Investment in subsidiaries:

     Citizens & Northern Bank

168,542

154,473

     Citizens & Northern Investment Corporation

9,081

8,289

     Bucktail Life Insurance Company

3,267

3,139

Other assets

7

123

TOTAL ASSETS

$182,792

$167,385

LIABILITIES AND STOCKHOLDERS' EQUITY

Other liabilities

$6

$0

Stockholders' equity

182,786

167,385

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY

$182,792

$167,385

Schedule of Condensed Income Statement [Table Text Block]

CONDENSED INCOME STATEMENT

(In Thousands)

2012

2011

2010

Dividends from Citizens & Northern Bank

$9,245

$7,856

$31,170

Dividends from non-bank subsidiaries

0

0

3

Other income

0

0

10

Expenses

(105)

(94)

(188)

Income before equity in undistributed income

  of subsidiaries

9,140

7,762

30,995

Equity in undistributed income of subsidiaries

13,565

15,606

(11,940)

NET INCOME

$22,705

$23,368

$19,055

Schedule of Condensed Cash Flow Statement [Table Text Block]

CONDENSED STATEMENT OF CASH FLOWS

(In Thousands)

2012

2011

2010

CASH FLOWS FROM OPERATING ACTIVITIES:

  Net income

$22,705

$23,368

$19,055

  Adjustments to reconcile net income to net

    cash provided by operating activities:

     Equity in undistributed net income of subsidiaries

(13,565)

(15,606)

11,940

     Decrease (increase) in other assets

116

11

(55)

     Increase (decrease) in other liabilities

6

(62)

(6)

     Net Cash Provided by Operating Activities

9,262

7,711

30,934

CASH FLOWS FROM  INVESTING ACTIVITIES,

  Proceeds from merger with Canisteo Valley Corporation

0

0

47

CASH FLOWS FROM FINANCING ACTIVITIES:

  Proceeds from sale of treasury stock

229

71

0

  Tax benefit from compensation plans, net

104

67

40

  Purchase of treasury stock

0

(1,022)

0

  Payment to repurchase preferred stock and warrant

0

0

(26,840)

  Dividends paid

(9,061)

(6,224)

(5,249)

     Net Cash Used in Financing Activities

(8,728)

(7,108)

(32,049)

INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS

534

603

(1,068)

CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR

1,361

758

1,826

CASH AND CASH EQUIVALENTS, END OF YEAR

$1,895

$1,361

$758