WELLSBORO — Citizens & Northern Corp., headquartered in Wellsboro, and Susquehanna Community Financial Inc., headquartered in West Milton, announced that both companies’ boards of directors have unanimously approved an agreement and plan of merger by which SQCF will merge into C&N.

C&N is the bank holding company for Citizens & Northern Bank, which operates 28 banking offices and one loan production office in Pennsylvania and New York. As of March 31, C&N had consolidated assets of $2.6 billion. SQCF is the financial holding company for Susquehanna Community Bank, which operates seven banking offices in Central Pennsylvania. SQCF had assets of $598 million as of March 31.

In connection with the merger of the holding companies, SQCF’s bank subsidiary, Susquehanna, will be merged into C&N Bank. The combined company will have approximately $3.2 billion in assets.

This strategic combination represents a substantial extension of legacy C&N markets, creating additional scale in central Pennsylvania, while enhancing C&N Bank’s capacity to provide exceptional service and solutions to its clients across the Commonwealth. In addition, C&N will further diversify its loan portfolio and funding base, increasing its resiliency and efficiency. The combined entity will successfully align its core values to ensure best-inclass service to the Pennsylvania community. It is expected that the transaction will close in the 4th quarter of 2025. More information about the transaction and the Agreement will be filed with a Current Report on Form 8-K by C&N shortly. Piper Sandler & Co. served as financial advisor to C&N and Barley Snyder served as C&N’s legal counsel. Janney Montgomery Scott LLC served as financial advisor to SQCF and Pillar+Aught served as SQCF’s legal counsel.