10:43 AM EDT, 05/12/2025 (MT Newswires) -- Citizens & Northern ( CZNC ) and Susquehanna Community Financial said Monday that both companies' boards unanimously approved a merger deal under which Susquehanna will merge into Citizens & Northern ( CZNC ).

Under the terms of the merger, Susquehanna Community Financial shareholders will receive 0.80 shares of Citizens & Northern ( CZNC ) stock for each Susquehanna Community Financial share, implying a value of $15.58 per share or about $44.3 million in total. After the merger, Susquehanna Community Financial shareholders will own roughly 13% of Citizens & Northern ( CZNC ).

The merger is slated to be approximately 17% accretive to earnings per share in 2026, the companies said.

Citizens & Northern ( CZNC ) is the parent company of Citizens & Northern Bank, and Susquehanna Community Financial is the parent company of Susquehanna Community Bank, according to the holding companies.

The companies said Susquehanna will be merged into Citizens & Northern Bank, creating an entity with around $3.2 billion in assets, strengthening Citizens & Northern's ( CZNC ) presence across Pennsylvania.

As part of the agreement, Susquehanna Community Financial Board Chair Chris Trate will join Citizens & Northern's ( CZNC ) board, Dave Runk will become executive vice president and strategic advisor, and Jeffrey Hollenbach will serve as regional president for the Susquehanna market, the companies said.

The merger still requires regulatory and shareholder approvals and is expected to close in Q4.

CZNC shares were up 2.4% in recent trading.

Price: 19.56, Change: +0.46, Percent Change: +2.41