C&N First in the Country

   Citizens & Northern Corporation, parent company of Citizens & Northern Bank, has been ranked Number One in the nation in Bank Director Magazine’s 2012 Bank Performance Scorecard.

   C&N placed first out of 195 financial institutions in the $1 billion to $5 billion category.

   The scorecard is a ranking of publically owned U.S. banks and thrifts that are listed on the NASDAQ OMX and NYSE EURONEXT stock exchanges. The 2012 Bank Performance Scorecard uses five key metrics that measure profitability (core return on average assets and core return on average equity); capital strength (ratio of tangible common equity to tangible assets); and asset quality (ratio of nonperforming assets to loans and real estate owned, and the ratio of net charge offs to average loans).

   Jack Milligan, Bank Director magazine editor, said “The key to doing well on the Scorecard is to be highly profitable and well capitalized, instead of being more highly leveraged.”

   Sandler O’Neill performed the analysis and constructed the 2012 Scorecard ranking using data provided to it by SNL Financial LC in Charlottesville, VA.

   In the $1 billion to $5 billion category, C&N was followed in second and third respectively by First Financial Bankshares Inc. in Abilene, TX and Blacksburg, VA- based National Bankshares, Inc.

   C&N’s first place recognition is based on the following: Assets - $1.324 billion; Core ROAA – 1.66%; Core ROAE – 14.27%; Tangible Common Equity/Tangible Assets – 11.84%; Non Performing Assets/Loans and OREO – 1.34%.

   “Our number one ranking is testament to the dedication of our employees, leadership team and Board of Directors,” said Charles H. Updegraff, Jr., C&N chairman, president and CEO. “It was only three years ago that we faced major challenges in light of the worst recession since the Great Depression. As a team, we worked through it, always putting the needs of our customers and shareholders first. We are proud to receive the recognition.”