CITIZENS & NORTHERN CORP
For the period ended Jun 30, 2024. Filed Aug 7, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Aug 7, 2024
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Item 1A. Risk Factors
There have been no material changes from the risk factors previously disclosed in Item 1A of the Corporation’s Annual Report on Form 10-K filed March 11, 2024.
Issuer Purchases of Equity Securities
On September 25, 2023, the Corporation announced a new treasury stock repurchase program. Under the newly approved program, the Corporation is authorized to repurchase up to 750,000 shares of the Corporation’s common stock, or slightly less than 5% of the Corporation’s issued and outstanding shares at August 4, 2023. The new program was effective when publicly announced and will continue thereafter until suspended or terminated by the Board of Directors, in its sole discretion. All shares of common stock repurchased pursuant to the new program shall be held as treasury shares and be available for use and reissuance for purposes as and when determined by the Board of Directors including, without limitation, pursuant to the Corporation’s Dividend Reinvestment and Stock Purchase Plans and its equity compensation program. As of June 30, 2024, 22,496 shares had been repurchased under the repurchase program
The following table sets forth a summary of the purchases by the Corporation of its common stock during the second quarter 2024:
| · · · · · · · · · | ||||||||
|---|---|---|---|---|---|---|---|---|
| · · · · Total Number of · Maximum | ||||||||
| · · · · · · · Shares · · Number of | ||||||||
| · · · · · · · Purchased · · Shares that May | ||||||||
| · · · · · · · as Part of · · Yet | ||||||||
| · · · · · · · Publicly · · be Purchased | ||||||||
| | | Total Number | | Average | | Announced | | Under |
| | | of Shares | | Price Paid | | Plans | | the Plans or |
| Period | | Purchased | | per Share | | or Programs | | Programs |
| April 1 - 30, 2024 | 700 | | $17.01 | 700 | 749,300 | |||
| May 1 - 31, 2024 | 600 | | $17.06 | 600 | 748,700 | |||
| June 1 - 30, 2024 | 21,196 | | $17.01 | 21,196 | 727,504 | |||
| Total | | 22,496 | | $17.01 | | 22,496 | | |
None
Not applicable
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