CZNCHIGH SIGNALOPPORTUNITY10-K

CZNC completed a $44.6 million merger with Susquehanna Community Financial, adding seven banking offices and meaningfully expanding its Pennsylvania market presence.

The merger represents a strategic expansion into four additional Pennsylvania counties (Lycoming, Northumberland, Snyder, and Union), enhancing CZNC's regional banking footprint and market density. The acquisition was funded through equity issuance of 2.3 million shares rather than cash, preserving capital flexibility while adding scale to operations.

Comparing 2026-03-06 vs 2025-03-06View on EDGAR →
FINANCIAL ANALYSIS

The merger's impact is clearly visible across CZNC's balance sheet, with total assets growing 20% to $3.1 billion and deposits expanding 22.5% to $2.6 billion, reflecting the successful integration of Susquehanna's banking operations. Cash and equivalents declined substantially to $46.1 million from $126.2 million, likely reflecting merger-related costs and integration expenses, though stockholders' equity increased 24% to $341.7 million due to the equity-financed transaction structure. The overall financial profile suggests a successful strategic acquisition that has meaningfully expanded the company's asset base and deposit franchise.

FINANCIAL STATEMENT CHANGES
Cash & Equivalents
Balance Sheet
-63.5%
$126.2M→$46.1M

Cash declined 63.5% — significant cash burn or deployment; verify adequacy of remaining liquidity runway.

Stockholders Equity
Balance Sheet
+24.1%
$275.3M→$341.7M

Equity base grew 24.1% — retained earnings accumulation or equity issuance strengthening the balance sheet.

Total Deposits
Balance Sheet
+22.5%
$2.1B→$2.6B

Deposits grew 22.5% — expanding customer base or increased trust in the institution.

Total Assets
Balance Sheet
+20%
$2.6B→$3.1B

Asset base grew 20% — expansion through organic growth, acquisitions, or capital deployment.

Total Liabilities
Balance Sheet
+19.5%
$2.3B→$2.8B

Liabilities increased 19.5% — monitor debt-to-equity ratio and interest coverage.

Share Buybacks
Cash Flow
-13.8%
$189K→$163K

Buyback activity reduced 13.8% — capital being redeployed elsewhere or cash conservation underway.

LANGUAGE CHANGES
NEW — 2026-03-06
PRIOR — 2025-03-06
ADDED
Management's Discussion and Analysis of Financial Condition and Results of Operations 14-38 Item 7A.
On October 1, 2025, the Corporation completed its previously announced merger with Susquehanna Community Financial, Inc.
Susquehanna was the parent company of Susquehanna Community Bank, with seven banking offices located in Lycoming, Northumberland, Snyder and Union counties in Pennsylvania.
Pursuant to the Agreement and Plan of Merger dated April 23, 2025 between the Corporation and Susquehanna, Susquehanna merged with and into the Corporation, with the Corporation as the surviving corporation in the Merger.
Immediately following the completion of the Merger, Susquehanna Community Bank, the wholly owned subsidiary of Susquehanna, merged with and into C N Bank, with C N Bank surviving.
The Corporation issued 2,272,948 shares of common stock to the former Susquehanna stockholders resulting in total merger consideration valued at $44.6 million.
Management believes the combination creates additional scale in central Pennsylvania and further diversifies its loan portfolio and funding base, thus increasing resiliency and efficiency.
Mainly as a result of the acquisitions and subsequent growth in the newer markets, the Corporation s consolidated total assets at December 31, 2025 increased to $3.1 billion, up 89% from the corresponding total at December 31, 2019.
Similarly, gross loans of $2.4 billion at December 31, 2025 were up 99% from December 31, 2019 and total deposits of $2.6 billion were up 105% from December 31, 2019.
At December 31, 2025, C N Bank had total assets of $3,121,869,000, total deposits of $2,584,952,000 and net loans outstanding of $2,323,317,000.
REMOVED
Management's Discussion and Analysis of Financial Condition and Results of Operations 14-37 Item 7A.
Mainly as a result of the acquisitions and subsequent growth in the newer markets, the Corporation s consolidated total assets at December 31, 2024 of $2.6 billion were up 58% from the corresponding total at December 31, 2019.
Similarly, gross loans of $1.9 billion at December 31, 2024 were up 60% from December 31, 2019 and total deposits of $2.1 billion were up 67% from December 31, 2019.
Also, the Bank competes with mutual funds, exchange-traded funds and other investment vehicles for deposits.
At December 31, 2024, C N Bank had total assets of $2,598,537,000, total deposits of $2,111,547,000 and net loans outstanding of $1,875,813,000.
A copy of the Corporation s annual report on Form 10-K, quarterly reports on Form 10-Q, current events reports on Form 8-K, and amendments to these reports, will be furnished without charge upon written request to the Corporation s Treasurer at P.O.
Copies of these reports will be furnished as soon as reasonably possible after they are filed electronically with the Securities and Exchange Commission.
The information is also available through the Corporation s web site at www.cnbankpa.com.
At December 31, 2024, the Corporation had 386 full-time equivalent employees.
Diversity and Inclusion At C N Bank, we are committed to creating value through relationships.
MORE OPPORTUNITY SIGNALS
ABTHIGHAbbott announced a major strategic acquisition of Exact Sciences Corporation to ...
2026-02-20
ANALYZE ANY FILING FREE

See what changed in your portfolio's filings

500+ US-listed companies analyzed. Language delta, financial analysis, instant signal scoring.

Try Tracenotes free →