Citizens & Northern Corp. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2013. For the quarter, the company posted net profit of $4.225 million or $0.34 per diluted share down from $5,939,000 or $0.48 per diluted share in fourth quarter of 2012. Non-interest revenue totaled $4.124 million down $169,000 from the earlier quarter and $203,000 from the same period in 2012. Net interest income totaled $10,531,000 in the fourth quarter 2013, down from $10,631,000 in the third quarter 2013 and $11,591,000 in the fourth quarter 2012. Income before income tax provision was $5,574,000 against $8,148,000 a year ago.

For the full year of 2013, total non-interest revenue of $16,451,000 was slightly higher than the previous year. For the year ended December 31, 2013, net income totaled $18,594,000, or $1.50 per diluted share, representing an annualized return on average assets of 1.50% and an annualized return on average equity of 10.25%. Net income for the year ended December 31, 2013 was down from $1.85 per diluted share in 2012. For the year ended December 31, 2013, net interest income of $43,149,000 was down $4,452,000 (9.4%) from 2012. Income before income tax provision was $24,777,000 against $31,131,000 a year ago. Common book value per share was $14.49 against $14.89 a year ago. Tangible common book value per share was $13.51 against $13.91 a year ago. Return on average assets was 1.50% against 1.74% a year ago. Return on average equity was 10.25% against 12.91% a year ago.

Net charge-offs were $26,000 in the fourth quarter of 2013 against $307,000 for the previous quarter.