Form 4: CZNC Director Trate Boosts Stake Post-Merger

Christian C. Trate, a director of Citizens & Northern Corp, significantly increased his beneficial ownership of the company's common stock following the merger with Susquehanna Community Financial, Inc.

Summary

• Christian C. Trate, a director of Citizens & Northern Corp (CZNC), acquired 107,995 shares of CZNC common stock.
• This acquisition occurred on October 1, 2025, as a result of the merger between Susquehanna Community Financial, Inc. and Citizens & Northern Corporation, Inc.
• Each share of Susquehanna common stock was converted into 0.80 shares of C&N common stock.
• Cash in lieu of fractional shares was paid at $19.48 per share.
• The closing price of C&N common stock on the merger date was $19.68 per share.
• Trate's beneficial ownership now includes 25,906 shares held directly, 70,360 shares indirectly through a corporation, 6,142 shares indirectly through a Beneficiary IRA, and 5,587 shares indirectly through a Trustee.

Sentiment

Score: 6

Explanation: Slightly positive due to the successful completion of a merger and increased insider ownership, which can signal confidence in the combined entity.

Positives

• Increased insider ownership by a director, Christian C. Trate, following a strategic merger.
• Successful completion of the merger between Susquehanna Community Financial, Inc. and Citizens & Northern Corporation, Inc.

Future Outlook

NA

Industry Context

This transaction reflects the ongoing consolidation within the regional banking and financial services sector, where mergers are common strategies for growth and market expansion. The acquisition of Susquehanna Community Financial by Citizens & Northern Corporation strengthens the latter's market position.

Stakeholder Impact

• Shareholders of Susquehanna Community Financial, Inc. received Citizens & Northern Corp common stock, converting their investment into the acquiring entity.
• Citizens & Northern Corp shareholders now own a larger, combined entity, potentially benefiting from synergies and expanded market reach.

Key Dates

Keywords

Citizens & Northern Corp, CZNC, Christian C. Trate, Insider Transaction, Form 4, Merger, Susquehanna Community Financial, Stock Acquisition, Director Ownership, Financial Services