JUNIATA VALLEY FINANCIAL CORP

For the period ended Dec 31, 2023. Filed Mar 20, 2024.

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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Mar 20, 2024

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Contents

CONSOLIDATED STATEMENTS OF INCOME

· · · · · ·
· · Year Ended
(Dollars in thousands, except share data) · · December 31,
	2023		2022
Interest and dividend income:
Loans, including fees		$26,728		$21,227
Taxable securities		6,193		6,077
Tax-exempt securities		139		155
Other interest income		121		96
Total interest income		33,181		27,555
Interest expense:
Deposits		8,247		2,577
Short-term borrowings and repurchase agreements		1,733		362
Long-term debt		471		471
Other interest bearing liabilities		38		12
Total interest expense		10,489		3,422
Net interest income		22,692		24,133
Provision for credit losses		500		455
Net interest income after provision for credit losses		22,192		23,678
Non-interest income:
Customer service fees		1,376		1,472
Debit card fee income		1,770		1,703
Earnings on bank-owned life insurance and annuities		222		219
Trust fees		466		472
Commissions from sales of non-deposit products		337		384
Fees derived from loan activity		445		540
Mortgage banking income		46		34
Loss on sales and calls of securities		—		(1,453)
Change in value of equity securities		17		(68)
Gain from life insurance proceeds		161		380
Other non-interest income		481		1,542
Total non-interest income		5,321		5,225
Non-interest expense:
Employee compensation expense		8,454		8,445
Employee benefits		2,355		2,370
Occupancy		1,289		1,284
Equipment		659		734
Data processing expense		2,937		2,582
Professional fees		848		800
Taxes, other than income		184		503
FDIC Insurance premiums		504		405
Gain on other real estate owned		(16)		(28)
Amortization of intangible assets		81		54
Amortization of investment in low-income housing partnerships		353		799
Merger and acquisition expense		227		—
Other non-interest expense		2,072		1,993
Total non-interest expense		19,947		19,941
Income before income taxes		7,566		8,962
Income tax provision		970		642
Net income		$6,596		$8,320
Earnings per share
Basic		$1.32		$1.66
Diluted		$1.31		$1.66

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.