JUNIATA VALLEY FINANCIAL CORP
For the period ended Dec 31, 2023. Filed Mar 20, 2024.
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FY2023 · Filed Mar 20, 2024
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CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
| | | | | | | |
|---|---|---|---|---|---|---|
| · · · · · | ||||||
| (Dollars in thousands, except share data) · December 31, 2023 · December 31, 2022 | ||||||
| ASSETS · · | ||||||
| Cash and due from banks | | $17,189 | | $10,856 | ||
| Interest bearing deposits with banks | | 11,741 | | 143 | ||
| Cash and cash equivalents | | 28,930 | | 10,999 | ||
| Equity securities | | 1,073 | | 1,056 | ||
| Debt securities available for sale | | 67,564 | | 73,536 | ||
| Debt securities held to maturity (fair value $198,147 and $209,887, respectively) | | 200,644 | | 209,565 | ||
| Restricted investment in bank stock | | 1,707 | | 3,666 | ||
| Total loans | | 525,394 | | 484,512 | ||
| Less: Allowance for credit losses | | (5,677) | | (4,027) | ||
| Total loans, net of allowance for credit losses | | 519,717 | | 480,485 | ||
| Premises and equipment, net | | 8,180 | | 8,190 | ||
| Bank owned life insurance and annuities | | 14,841 | | 15,197 | ||
| Investment in low income housing partnerships | | 1,154 | | 1,507 | ||
| Core deposit and other intangible assets | | 343 | | 121 | ||
| Goodwill | | 9,812 | | 9,047 | ||
| Mortgage servicing rights | | 83 | | 92 | ||
| Deferred tax asset | | | 11,319 | | | 11,838 |
| Accrued interest receivable and other assets | | 6,444 | | 5,576 | ||
| Total assets | | $871,811 | | $830,875 | ||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | | | ||||
| Liabilities: | | | ||||
| Deposits: | | | ||||
| Non-interest bearing | | $197,027 | | $199,131 | ||
| Interest bearing | | 552,018 | | 512,381 | ||
| Total deposits | | 749,045 | | 711,512 | ||
| Short-term borrowings and repurchase agreements | | 52,810 | | 55,710 | ||
| Long-term debt | | 20,000 | | 20,000 | ||
| Other interest bearing liabilities | | 951 | | 1,011 | ||
| Accrued interest payable and other liabilities | | 7,612 | | 5,693 | ||
| Total liabilities | | 830,418 | | 793,926 | ||
| Commitments and contingent liabilities | | | | | | |
| Stockholders’ Equity: | | | ||||
| Preferred stock, no par value: Authorized - 500,000 shares, none issued | | — | | — | ||
| Common stock, par value $1.00 per share: Authorized 20,000,000 shares; Issued - 5,151,279 shares at December 31, 2023 and December 31, 2022; Outstanding - 4,991,129 shares at December 31, 2023 and 5,003,059 shares at December 31, 2022 | | 5,151 | | 5,151 | ||
| Surplus | | 24,924 | | 24,986 | ||
| Retained earnings | | 52,553 | | 51,217 | ||
| Accumulated other comprehensive loss | | (38,640) | | (41,867) | ||
| Cost of common stock in Treasury: 160,150 shares at December 31, 2023; 148,220 shares at December 31, 2022 | | (2,595) | | (2,538) | ||
| Total stockholders’ equity | | 41,393 | | 36,949 | ||
| Total liabilities and stockholders’ equity | | $871,811 | | $830,875 | ||
JUNIATA FINANCIAL CORP. AND SUBSIDIARY
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