2023 Q2 Form 10-Q Financial Statement

#000155837023008259 Filed on May 05, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q4
Revenue $28.01M $26.14M
YoY Change 31.45% 20.05%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development $1.900M $1.936M
YoY Change 10.47% 19.29%
% of Gross Profit
Depreciation & Amortization $534.0K $570.0K $609.0K
YoY Change 5.53% 12.43% 14.91%
% of Gross Profit
Operating Expenses $1.900M $1.936M
YoY Change 10.47% 19.29%
Operating Profit
YoY Change
Interest Expense $7.649M $5.358M
YoY Change 354.22% 271.83%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $7.462M $7.662M $9.552M
YoY Change -18.06% -8.55% 6.31%
Income Tax $1.419M $1.409M $1.773M
% Of Pretax Income 19.02% 18.39% 18.56%
Net Earnings $5.996M $6.253M $7.711M
YoY Change -19.94% -9.31% 5.51%
Net Earnings / Revenue 21.41% 23.92%
Basic Earnings Per Share $0.39 $0.40
Diluted Earnings Per Share $0.39 $0.40 $501.5K
COMMON SHARES
Basic Shares Outstanding 15.36M 15.56M 15.50M
Diluted Shares Outstanding 15.23M 15.41M

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $51.76M $52.21M $55.05M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $20.97M $21.28M $21.57M
YoY Change -3.94% 0.51% 4.31%
Goodwill $52.51M $52.51M $52.51M
YoY Change 0.0% 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $20.69M $18.91M $20.88M
YoY Change 26.67% 60.04% 253.97%
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $2.471B $2.430B $2.454B
YoY Change 2.49% 4.27% 5.44%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $26.39M $26.75M $25.61M
YoY Change 21.57% 18.77% 28.68%
Accrued Expenses $4.133M
YoY Change 8.76%
Deferred Revenue
YoY Change
Short-Term Debt $31.43M $93.40M $80.06M
YoY Change -65.09% 3862.49% 4340.49%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $26.39M $29.15M $25.61M
YoY Change 21.57% 29.4% 8.05%
LONG-TERM LIABILITIES
Long-Term Debt $186.2M $39.42M $181.8M
YoY Change 373.84% -17.45% 281.09%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $186.2M $39.42M $181.8M
YoY Change 373.84% -17.45% 281.09%
TOTAL LIABILITIES
Total Short-Term Liabilities $26.39M $29.15M $25.61M
Total Long-Term Liabilities $186.2M $39.42M $181.8M
Total Liabilities $2.223B $2.174B $2.205B
YoY Change 3.28% 5.85% 8.82%
SHAREHOLDERS EQUITY
Retained Earnings $153.7M $152.0M $151.7M
YoY Change 3.74% 4.77% 6.4%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $17.23M $13.05M $12.52M
YoY Change 32.38% 69.3% 86.42%
Treasury Stock Shares $545.1K $511.4K
Shareholders Equity $248.1M $255.6M $249.3M
YoY Change
Total Liabilities & Shareholders Equity $2.471B $2.430B $2.454B
YoY Change 2.49% 4.27% 5.44%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q4
OPERATING ACTIVITIES
Net Income $5.996M $6.253M $7.711M
YoY Change -19.94% -9.31% 5.51%
Depreciation, Depletion And Amortization $534.0K $570.0K $609.0K
YoY Change 5.53% 12.43% 14.91%
Cash From Operating Activities $7.794M $9.549M $8.058M
YoY Change -6.87% 69.07% -16.93%
INVESTING ACTIVITIES
Capital Expenditures $275.0K $276.0K $302.0K
YoY Change -123.54% -72.21% -143.77%
Acquisitions
YoY Change
Other Investing Activities -$47.62M -$70.00K -$54.14M
YoY Change -66.29% -6.67% -26.39%
Cash From Investing Activities -$47.89M $26.51M -$54.44M
YoY Change -66.37% -246.28% -26.68%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 40.15M -37.64M 38.64M
YoY Change -54.96% -272.11% -229.78%
NET CHANGE
Cash From Operating Activities 7.794M 9.549M 8.058M
Cash From Investing Activities -47.89M 26.51M -54.44M
Cash From Financing Activities 40.15M -37.64M 38.64M
Net Change In Cash 50.00K -1.586M -7.746M
YoY Change -100.11% -116.88% -91.79%
FREE CASH FLOW
Cash From Operating Activities $7.794M $9.549M $8.058M
Capital Expenditures $275.0K $276.0K $302.0K
Free Cash Flow $7.519M $9.273M $7.756M
YoY Change -21.16% 99.21% -25.35%

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CY2023Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
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CY2022Q1 cznc Amortization Of Net Transition Obligation Prior Service Cost And Net Actuarial Loss
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CY2023Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
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CY2023Q1 us-gaap Profit Loss
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CY2022Q1 us-gaap Profit Loss
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CY2023Q1 us-gaap Provision For Loan Lease And Other Losses
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CY2022Q1 us-gaap Provision For Loan Lease And Other Losses
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CY2022Q1 us-gaap Gain On Sale Of Investments
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CY2022Q1 us-gaap Accretion Amortization Of Discounts And Premiums Investments
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CY2023Q1 us-gaap Bank Owned Life Insurance Income
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CY2022Q1 us-gaap Bank Owned Life Insurance Income
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CY2023Q1 us-gaap Depreciation Depletion And Amortization
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CY2022Q1 us-gaap Depreciation Depletion And Amortization
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CY2022Q1 cznc Other Accretion And Amortization
OtherAccretionAndAmortization
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CY2023Q1 cznc Stock Based Compensation And Other Expenses
StockBasedCompensationAndOtherExpenses
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CY2022Q1 cznc Stock Based Compensation And Other Expenses
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CY2023Q1 us-gaap Deferred Income Tax Expense Benefit
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CY2022Q1 us-gaap Deferred Income Tax Expense Benefit
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CY2023Q1 us-gaap Mortgage Servicing Rights Msr Impairment Recovery
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CY2022Q1 us-gaap Mortgage Servicing Rights Msr Impairment Recovery
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CY2023Q1 us-gaap Gain Loss On Sales Of Loans Net
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CY2022Q1 us-gaap Gain Loss On Sales Of Loans Net
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CY2023Q1 us-gaap Payments For Origination Of Mortgage Loans Held For Sale
PaymentsForOriginationOfMortgageLoansHeldForSale
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CY2022Q1 us-gaap Payments For Origination Of Mortgage Loans Held For Sale
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CY2023Q1 us-gaap Proceeds From Sale Of Mortgage Loans Held For Sale
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CY2022Q1 us-gaap Proceeds From Sale Of Mortgage Loans Held For Sale
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CY2023Q1 us-gaap Increase Decrease In Other Operating Assets
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CY2022Q1 us-gaap Increase Decrease In Other Operating Assets
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CY2023Q1 us-gaap Increase Decrease In Other Operating Liabilities
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CY2022Q1 us-gaap Increase Decrease In Other Operating Liabilities
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CY2022Q1 us-gaap Other Operating Activities Cash Flow Statement
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CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
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CY2023Q1 cznc Proceeds From Maturities Of Certificates Of Deposit
ProceedsFromMaturitiesOfCertificatesOfDeposit
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CY2022Q1 cznc Proceeds From Maturities Of Certificates Of Deposit
ProceedsFromMaturitiesOfCertificatesOfDeposit
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CY2023Q1 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
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CY2022Q1 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
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CY2023Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
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CY2022Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
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CY2023Q1 us-gaap Payments To Acquire Available For Sale Securities Debt
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CY2022Q1 us-gaap Payments To Acquire Available For Sale Securities Debt
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CY2023Q1 cznc Redemption Of Federal Home Loan Bank Stock
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CY2022Q1 cznc Redemption Of Federal Home Loan Bank Stock
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CY2023Q1 us-gaap Payments To Acquire Federal Home Loan Bank Stock
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CY2022Q1 us-gaap Payments To Acquire Federal Home Loan Bank Stock
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CY2022Q1 us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
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CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
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CY2022Q1 us-gaap Increase Decrease In Deposits
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CY2023Q1 us-gaap Proceeds From Repayments Of Short Term Debt
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CY2022Q1 us-gaap Proceeds From Repayments Of Short Term Debt
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CY2023Q1 us-gaap Proceeds From Long Term Lines Of Credit
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CY2022Q1 us-gaap Proceeds From Long Term Lines Of Credit
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CY2023Q1 us-gaap Repayments Of Long Term Lines Of Credit
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CY2022Q1 us-gaap Repayments Of Long Term Lines Of Credit
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CY2023Q1 us-gaap Proceeds From Sale Of Treasury Stock
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CY2022Q1 us-gaap Proceeds From Sale Of Treasury Stock
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CY2023Q1 cznc Payments For Repurchase Of Treasury Stock
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CY2022Q1 cznc Payments For Repurchase Of Treasury Stock
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CY2023Q1 us-gaap Payments Of Dividends Common Stock
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CY2022Q1 us-gaap Payments Of Dividends Common Stock
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CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
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CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
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CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
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CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
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CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
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CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
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CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
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CY2023Q1 cznc Accrued Purchase Of Available For Sale Debt Securities
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CY2022Q1 cznc Accrued Purchase Of Available For Sale Debt Securities
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CY2023Q1 us-gaap Transfer To Other Real Estate
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CY2022Q1 us-gaap Transfer To Other Real Estate
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CY2023Q1 us-gaap Interest Paid Net
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CY2022Q1 us-gaap Interest Paid Net
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CY2023Q1 us-gaap Income Taxes Paid
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CY2022Q1 us-gaap Income Taxes Paid
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CY2022Q4 us-gaap Stockholders Equity
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CY2023Q1 us-gaap Net Income Loss
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CY2023Q1 us-gaap Common Stock Dividends Per Share Cash Paid
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CY2023Q1 us-gaap Dividends Common Stock
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CY2023Q1 us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
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CY2023Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
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CY2023Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Forfeitures
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CY2023Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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CY2023Q1 cznc Restricted Stock Purchased For Tax Withholding
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CY2023Q1 us-gaap Treasury Stock Value Acquired Cost Method
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CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
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CY2021Q4 us-gaap Stockholders Equity
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CY2022Q1 us-gaap Common Stock Dividends Per Share Cash Paid
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CY2022Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
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CY2022Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Forfeitures
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CY2022Q1 us-gaap Net Income Loss
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CY2022Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
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CY2022Q1 cznc Restricted Stock Purchased For Tax Withholding
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CY2022Q1 us-gaap Treasury Stock Value Acquired Cost Method
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CY2022Q1 us-gaap Stockholders Equity
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CY2022Q4 us-gaap Financing Receivable Allowance For Credit Loss Excluding Accrued Interest Current
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CY2022Q4 us-gaap Off Balance Sheet Credit Loss Liability
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CY2022Q4 us-gaap Deferred Income Tax Assets Net
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CY2022Q4 us-gaap Retained Earnings Accumulated Deficit
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CY2023Q1 us-gaap Debt Securities Available For Sale Amortized Cost Allowance For Credit Loss Excluding Accrued Interest
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CY2023Q1 us-gaap Interest Receivable
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CY2023Q1 us-gaap Interest Income Financing Receivable Before Allowance For Credit Loss
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CY2023Q1 cznc Financing Receivable Estimated Weighted Average Remaining Maturity Average Life
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CY2023Q1 us-gaap Net Income Loss
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CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2022Q1 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Tax
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CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
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CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2023Q1 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
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CY2022Q1 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
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CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2023Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
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CY2023Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
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CY2023Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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CY2023Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
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CY2023Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Tax
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CY2023Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
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CY2023Q1 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentBeforeTaxPortionAttributableToParent
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CY2023Q1 us-gaap Other Comprehensive Income Availableforsale Securities Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesTaxPortionAttributableToParent
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CY2023Q1 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
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CY2023Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Net Unamortized Gain Loss Arising During Period Before Tax
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CY2023Q1 us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Tax
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CY2023Q1 us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Net Of Tax
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CY2023Q1 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Before Tax
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CY2023Q1 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Tax
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CY2023Q1 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Net Of Tax
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CY2023Q1 us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Before Tax Portion Attributable To Parent
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CY2023Q1 us-gaap Other Comprehensive Income Defined Benefit Plans Tax Portion Attributable To Parent
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CY2023Q1 us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent
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CY2022Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
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CY2022Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesTax
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CY2022Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
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CY2022Q1 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Before Tax Portion Attributable To Parent
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CY2022Q1 us-gaap Other Comprehensive Income Availableforsale Securities Tax Portion Attributable To Parent
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24634000
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16000
CY2022Q1 cznc Net Effect From Risk Participation Agreements Transactions
NetEffectFromRiskParticipationAgreementsTransactions
0

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