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WELLSBORO, PA - Citizens & Northern Corporation (C&N) announced its unaudited, consolidated financial results for the second quarter and first six months of 2011.
Net income available to common shareholders was $5,697,000, or $0.47 per share – basic and diluted in the second quarter 2011. Second quarter 2011 earnings were up from $5,541,000, or $0.46 per share – basic and $0.45 per share – diluted in the first quarter 2011, and second quarter 2011 earnings were up 27% from net income per share of $0.37 in the second quarter 2010. For the first six months of 2011, net income was $11,238,000, or $0.92 per share, up 29.6% from earnings per share of $0.71 for the first six months of 2010.
Some of the more significant fluctuations in the components of earnings are as follows:
|William and Margaret Norton|
SHINGLEHOUSE, PA - Ten Oswayo Valley High School students have received a total of $115,000 in scholarships from the William and Margaret Norton Scholarship Trust. The scholarship grants awarded range from two to four years and are dependent upon satisfactory academic progress.
The trust was created by the Nortons upon their deaths and is designed to help graduates of Oswayo Valley High School afford a post secondary education. The scholarship is open to all graduates of Oswayo Valley High School in Potter County. 2010 graduates earning scholarships are Samantha Walker and Aaron Duell.
2011 graduates receiving grants are Brittany Fuller, Brianna Harvey, Trevor Howard, Tarra Warriner, Michelle Cobado, Stacie Cole, Myles Pearsall and Katie Slater.
The scholarships may be used for any type of post secondary education including conventional baccalaureate programs as well as vocational and trade school programs, associate degree and graduate school programs.
It was the Nortons’ preference that the scholarship committee favors applicants who pursue post secondary education immediately following high school graduation. The Nortons also requested that the committee consider applicants who demonstrate good citizenship, character, values and motivation, academic merit, educational achievement or academic or educational promise and a degree of financial need.
Citizens & Northern Bank serves as the trustee of the Norton Scholarship Trust.William N. Norton died Dec. 31, 2003 and his wife, Margaret, died May 5, 2008. William Norton was a former Shinglehouse mayor and businessman. He and his wife operated the William N. Norton Co., a block manufacturing and building supply company, later renamed Norton’s Building Supply. The Nortons were both very active members of their community.
Copp Scholarship’s 2011 recipients were honored at a luncheon at the Penn Wells Hotel. Pictured are the recipients, front, from left, Lisa Shultz, Lyndsey King, Ashley Hanes, Charles Moyer and Kasey Baker. In back, from left, Angie Adams, Cowanesque Valley High School guidance counselor; Brian Tevlin, AVP and trust officer with the C&N Trust and Financial Management Group; Chris Morral, Wellsboro Area School District superintendent; Keith Yarger, Southern Tioga School District superintendent and Michael Charles, CPA, VP and tax officer with C&NTFMG. Absent from photo are Dr. Timothy Bowers, Northern Tioga School District superintendent, Danielle Strange and Richard Lee, both Copp Scholarship recipients.
WELLSBORO, PA - Seven Tioga County students have been named recipients of scholarships from the William Bowen Copp and Graydon S. Copp Agriculture Education Trust. The 2011 awards totaled $70,000.00.
The Scholarship Committee hosted a luncheon for scholarship recipients and their parents at the Penn Wells Hotel in Wellsboro.
The 2011 recipients include:
Lisa Jean Shultz, daughter of David and Jean Shultz of Wellsboro. A graduate of Wellsboro Area High School, Lisa plans to attend Lock Haven University majoring in pre-veterinarian.
Danielle Strange, daughter of David Strange and Audrey Williams of Wellsboro. A graduate of Wellsboro Area High School, she plans to attend Alfred University majoring in pre veterinarian.
Kasey Baker, daughter of Damon and Kendra Baker of Osceola. A graduate of Cowanesque Valley High School, Kasey plans to attend Penn State Altoona majoring in animal science.
Lyndsey Renee King, daughter of Randy and Marlene King of Westfield. A graduate of Cowanesque Valley High School, she plans to attend Coastal Carolina University majoring in marine science.
Richard Lee, son of Christopher Lee and Wendy Briggs of Westfield. A graduate of Cowanesque Valley High School, he plans to attend Unity College in Maine majoring in wildlife biology.
Ashley Jean Hanes, daughter of Ronald and Deborah Hanes of Tioga. A graduate of Elkland High School, Ashley plans to attend Mansfield University majoring in biology.
Charles Moyer, son of Paul and Carolyn Moyer of Roaring Branch. A graduate of Liberty Junior Senior High School, he plans to attend Penn State Altoona majoring in animal science.
Honored for service by Charles H. Updegraff, Jr., back, center, chairman, president and CEO, were, front, from left, Nancy Tubbs, Terry Turner and Joan Blackwell. Back, from left, Steve Bolt, Glenda Marzo,
Harland Webster, Leda Bowers and Yvonne Gill.
WELLSBORO, PA - Eight Citizens & Northern Bank employees have been recognized for a combined 155 years of service to the financial institution.
Recognized during the May-June service awards luncheon were:
- Joan Blackwell, Liberty Branch Manager, 40 years.
- Steve Bolt, Courier, Wellsboro, 20 years.
- Leda Bowers, MIS Operator, Wellsboro, 15 years
- Yvonne Gill, Marketing Manager, Wellsboro, 10 years.
- Glenda Marzo, Head Auditor, Wellsboro, 25 years.
- Nancy Tubbs, Compliance Officer, Wellsboro, 25 years.
- Terry Turner, Teller, Dushore, 10 years.
- Harland Webster – Systems Analyst Programmer, Wellsboro, 10 years.
Service awards luncheons are held regularly and hosted by C&N Chairman, President and CEO Charles H. Updegraff, Jr. In 2011, C&N will recognize 25 employees for a total of 410 years of service to Citizens & Northern Bank.
Citizens & Northern Bank is a local, independent community bank providing complete financial, investment and insurance services through 26 full service offices throughout Cameron, Potter, McKean, Tioga, Bradford, Sullivan and Lycoming counties in Pennsylvania and in Canisteo and Hornell, NY in Steuben County. C&N can be found on the worldwide web at www.cnbankpa.com. The Company’s stock is listed on NASDAQ Capital Market Securities under the symbol CZNC.