Juniata Valley Financial Corp. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Juniata Valley Financial Corp. has filed its 2023 10-K report detailing its financial performance and position.</b>

AI Summary

JUNIATA VALLEY FINANCIAL CORP (JUVF) filed a Annual Report (10-K) with the SEC on March 20, 2024. The filing covers the fiscal year ending December 31, 2023. Juniata Valley Financial Corp. is incorporated in Pennsylvania. The company's principal business address is 2 South Main St, Mifflintown, PA. The filing includes data related to common stock, retained earnings, and additional paid-in capital for 2023, 2022, and 2021. Specific financial data points include treasury stock, accumulated other comprehensive income, and accrued interest receivables/payables.

Why It Matters

For investors and stakeholders tracking JUNIATA VALLEY FINANCIAL CORP, this filing contains several important signals. This 10-K filing provides a comprehensive overview of JUVF's financial health and operational status for the fiscal year 2023, crucial for investors assessing its performance. The detailed financial statements and disclosures within the report are essential for understanding the company's asset base, liabilities, equity, and changes therein, impacting investment decisions.

Risk Assessment

Risk Level: medium — JUNIATA VALLEY FINANCIAL CORP shows moderate risk based on this filing. The company operates in the banking sector, which is subject to significant regulatory oversight and economic fluctuations that can impact financial performance.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-K to assess JUVF's financial stability and future prospects.

Key Numbers

• 2023-12-31 — Fiscal Year End (CONFORMED PERIOD OF REPORT)
• 2024-03-20 — Filing Date (FILED AS OF DATE)
• 149 — Public Document Count (PUBLIC DOCUMENT COUNT)
• 6022 — SIC Code (STANDARD INDUSTRIAL CLASSIFICATION)

Key Players & Entities

• JUNIATA VALLEY FINANCIAL CORP (company) — COMPANY CONFORMED NAME
• 0000714712 (company) — CENTRAL INDEX KEY
• PA (company) — STATE OF INCORPORATION
• 2 SOUTH MAIN ST (company) — BUSINESS ADDRESS STREET 1
• MIFFLINTOWN (company) — BUSINESS ADDRESS CITY
• 7174368211 (company) — BUSINESS PHONE
• 1934 Act (regulator) — SEC ACT
• 20231231 (dollar_amount) — CONFORMED PERIOD OF REPORT

FAQ

Industry Context

Juniata Valley Financial Corp. operates within the commercial banking industry, providing financial services to individuals and businesses.

Regulatory Implications

As a financial institution, the company is subject to regulations from bodies like the SEC and potentially state banking authorities, impacting its operations and reporting.

What Investors Should Do

1. Review the detailed financial statements for revenue, net income, and asset/liability changes.
2. Analyze the risk factors section for potential challenges and mitigation strategies.
3. Examine disclosures on equity, debt, and cash flow for financial health indicators.

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 10-K.
• 2024-03-20: Filing Date — Date the 10-K report was officially submitted to the SEC.

Glossary

10-K

An annual report required by the U.S. Securities and Exchange Commission (SEC), which gives a comprehensive summary of a company's financial performance. (This is the primary document type filed, containing detailed financial and operational information.)

Fiscal Year End

The last day of a company's accounting year. (Indicates the period covered by the financial statements in the report.)

Year-Over-Year Comparison

This is the initial filing analyzed, so no comparison to a previous filing is available.

Key Financial Figures

• $1.00 — g) of the Act: Common Stock, par value $1.00 (Title of Class) Indicate by check ma
• $11.2 million — mit to a single borrower (approximately $11.2 million as of December 31, 2023) enables it to
• $100 million — maller reporting company with less than $100 million in revenue that previously met the defi
• $250,000 — um deposit insurance coverage amount at $250,000. The FDIC deposit insurance coverage li
• $10.0 billion — ons, such as Juniata, with assets under $10.0 billion. Initial base assessment rates range be
• $10 billion — d depository institutions with at least $10 billion in total assets since they are more com

Filing Documents

• juvf-20231231x10k.htm (10-K) — 6495KB
• juvf-20231231xex10d4.htm (EX-10.4) — 88KB
• juvf-20231231xex21d1.htm (EX-21.1) — 10KB
• juvf-20231231xex23d1.htm (EX-23.1) — 3KB
• juvf-20231231xex31d1.htm (EX-31.1) — 13KB
• juvf-20231231xex31d2.htm (EX-31.2) — 13KB
• juvf-20231231xex32d1.htm (EX-32.1) — 5KB
• juvf-20231231xex32d2.htm (EX-32.2) — 6KB
• juvf-20231231x10k003.jpg (GRAPHIC) — 4KB
• juvf-20231231x10k004.jpg (GRAPHIC) — 3KB
• juvf-20231231xex10d4001.jpg (GRAPHIC) — 4KB
• juvf-20231231xex10d4003.jpg (GRAPHIC) — 14KB
• 0001558370-24-003611.txt (&nbsp;) — 28624KB
• juvf-20231231.xsd (EX-101.SCH) — 112KB
• juvf-20231231_cal.xml (EX-101.CAL) — 178KB
• juvf-20231231_def.xml (EX-101.DEF) — 531KB
• juvf-20231231_lab.xml (EX-101.LAB) — 1084KB
• juvf-20231231_pre.xml (EX-101.PRE) — 903KB
• juvf-20231231x10k_htm.xml (XML) — 7529KB

BUSINESS

BUSINESS 3 ITEM 1A.

RISK FACTORS

RISK FACTORS 13 ITEM 1B. UNRESOLVED STAFF COMMENTS 21 ITEM 1C. CYBERSECURITY 21 ITEM 2.

PROPERTIES

PROPERTIES 24 ITEM 3.

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS 24 ITEM 4. MINE SAFETY DISCLOSURES 24 PART II 25 ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY AND RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES 25 ITEM 6. RESERVED 25 ITEM 7.

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 26 ITEM 7A.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 57 ITEM 8.

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA 58 ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE 115 ITEM 9A.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 115 ITEM 9B. OTHER INFORMATION 116 ITEM 9C. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 116 PART III 117 ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE 117 ITEM 11.

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 117 ITEM 12.

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS 117 ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS AND DIRECTOR INDEPENDENCE 117 ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES 117 PART IV 118 ITEM 15. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES 118

SIGNATURES

SIGNATURES 120 2 Table of Contents PART I

BUSINESS

ITEM 1. BUSINESS Overview Juniata Valley Financial Corp. (the "Company" or "Juniata") is a Pennsylvania corporation formed in 1983 as a result of a plan of merger and reorganization of The Juniata Valley Bank (the "Bank"). The plan received regulatory approval on June 7, 1983 and Juniata, a one-bank holding company, registered under the Bank Holding Company Act of 1956 as a bank holding company. The Bank is the oldest independent commercial bank in Juniata and Mifflin Counties and was organized as a state bank charter in 1867. The Company has one reportable segment, consisting of the Bank, as described in Note 2 of The Notes to Consolidated Financial Statements. Nature of Operations Juniata operates primarily in central and northern Pennsylvania with the purpose of delivering financial services within its local markets. The Company provides retail and commercial banking and other financial services through 15 branch locations located in Juniata, Mifflin, Perry, McKean, Potter and Franklin Counties. Additionally, in Mifflin, Juniata and Centre Counties, the Company maintains four offices for loan production, trust services and wealth management sales. The Company offers a full range of consumer and commercial banking services. Consumer banking services include: online account opening; online banking; mobile banking; telephone banking; automated teller machines; personal checking accounts; checking overdraft privileges; money market deposit accounts; savings accounts; debit cards; certificates of deposit; individual retirement accounts; secured lines of credit; construction and mortgage loans; and safe deposit boxes. Commercial banking services include: low and high-volume business checking accounts; online account management services; remote deposit capability; ACH origination; payroll direct deposit; commercial lines of credit; commercial letters of credit; mobile deposit for small business customers; and commercial term and demand loans. The Bank also provi

View Full Filing

View this 10-K filing on SEC EDGAR