About Citizens & Northern

Citizens & Northern Corporation operates as the bank holding company for Citizens & Northern Bank that provides banking and related services to individual and corporate customers. The company has expanded its presence over the past several decades through a series of mergers, as well as by opening new branch and lending offices and providing access to banking services via the internet and through ATMs. The company has branch offices in the Northern tier/Northcentral region of Pennsylvania; the Southern tier of New York State; Southeastern Pennsylvania (Bucks County and Chester County); and Southcentral Pennsylvania (York and Lancaster). In addition to its branch locations, the company has a lending office in Elmira, New York. The company provides an extensive range of banking services, including deposit and loan products for personal and commercial customers. The company also provides wealth management services through its trust department and C&N Financial Services, LLC (CNFS). The trust department offers a wide range of financial services, such as 401(k) plans, retirement planning, estate planning, estate settlements and asset management. CNFS, a wholly-owned subsidiary of the bank, is a licensed insurance agency that provides insurance products to individuals and businesses and through its broker-dealer division, offers mutual funds, annuities, educational savings accounts and other investment products through registered agents. Lending products include commercial, mortgage and consumer loans, as well as specialized instruments such as commercial letters-of-credit. Deposit products include various types of checking accounts, passbook and statement savings, money market accounts, interest checking accounts, Individual Retirement Accounts and certificates of deposit. The company offers time deposits. Northern Tier Holding LLC, acquires, holds and disposes of real property acquired by the bank. The bank is the sole member of Northern Tier Holding LLC. Most activities of the company and its subsidiaries are regulated by federal or state agencies. The primary regulatory relationships are described as follows: The company’s trust department provides a wide range of financial services, including wealth management services for individuals, businesses and retirement funds, administration of 401(k) and other retirement plans, retirement planning, estate planning and estate settlement services. Investment Portfolio As of December 31, 2022, the company’s investment portfolio included obligations of the U.S. Treasury; obligations of the U.S. Government agencies; bank holding company debt securities; obligations of states and political subdivisions, such as tax-exempt and taxable; mortgage-backed securities issued or guaranteed by U.S. Government agencies or sponsored agencies, such as residential pass-through securities, residential collateralized mortgage obligations, and commercial mortgage-backed securities; and private label commercial mortgage-backed securities. Regulations The company is a bank holding company formed under the provisions of Section 3 of the Federal Reserve Act. The company is under the direct supervision of the Federal Reserve and must comply with the reporting requirements of the Federal Bank Holding Company Act. C&N Bank is a state-chartered, nonmember bank, supervised by the Federal Deposit Insurance Corporation (FDIC) and the Pennsylvania Department of Banking and Securities. The Pennsylvania Department of Insurance regulates CNFS’s insurance activities. Brokerage products are offered through third party networking agreements. Bucktail is incorporated in the state of Arizona and supervised by the Arizona Department of Insurance. History Citizens & Northern Corporation was founded in 1864.