Juniata Valley Financial Corp. Q3 2024 Update

TL;DR

JVBF Q3 2024: Stock and financials updated. All good.

AI Summary

Juniata Valley Financial Corp. reported its third-quarter results for the period ending September 30, 2024. The company's filing details its financial position and operational activities, including information on common stock, treasury stock, and accumulated other comprehensive income as of September 30, 2024.

Why It Matters

This filing provides insight into the financial health and stock activity of Juniata Valley Financial Corp., which can influence investor decisions and market perception.

Risk Assessment

Risk Level: low — The filing is a standard quarterly report with no immediate red flags or significant negative events indicated.

Key Numbers

• 2024-09-30 — Reporting Period End (Financial data is as of this date.)
• 2024-01-01 — Reporting Period Start (Financial data covers this period.)

Key Players & Entities

• JUNIATA VALLEY FINANCIAL CORP (company) — Filer
• 20240930 (date) — Reporting Period End Date
• 20241112 (date) — Filing Date
• PA (location) — State of Incorporation
• MIFFLINTOWN (location) — Business Address City

FAQ

Key Financial Figures

• $1.00 — g as of October 31, 2024 Common Stock ($1.00 par value) 5,003,384 shares Table of

Filing Documents

• juvf-20240930x10q.htm (10-Q) — 5855KB
• juvf-20240930xex31d1.htm (EX-31.1) — 12KB
• juvf-20240930xex31d2.htm (EX-31.2) — 14KB
• juvf-20240930xex32d1.htm (EX-32.1) — 8KB
• juvf-20240930xex32d2.htm (EX-32.2) — 8KB
• 0001558370-24-015219.txt ( ) — 25186KB
• juvf-20240930.xsd (EX-101.SCH) — 61KB
• juvf-20240930_cal.xml (EX-101.CAL) — 125KB
• juvf-20240930_def.xml (EX-101.DEF) — 336KB
• juvf-20240930_lab.xml (EX-101.LAB) — 646KB
• juvf-20240930_pre.xml (EX-101.PRE) — 530KB
• juvf-20240930x10q_htm.xml (XML) — 7791KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements 3 Consolidated Statements of Financial Condition as of September 30, 2024 (Unaudited) and December 31, 2023 3 Consolidated Statements of Income for the Three and Nine months Ended September 30, 2024 and 2023 (Unaudited) 4 Consolidated Statements of Comprehensive Income for the Three and Nine months Ended September 30, 2024 and 2023 (Unaudited) 5 Consolidated Statements of Stockholders' Equity for the Three and Nine months Ended September 30, 2024 and 2023 (Unaudited) 6 Consolidated Statements of Cash Flows for the Nine months Ended September 30, 2024 and 2023 (Unaudited) 8

Notes to Consolidated Financial Statements (Unaudited)

Notes to Consolidated Financial Statements (Unaudited) 9 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 40 Item 3. Not applicable. Item 4.

Controls and Procedures

Controls and Procedures 54

- OTHER INFORMATION

PART II - OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 55 Item 1A.

Risk Factors

Risk Factors 55 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 55 Item 3. Defaults upon Senior Securities 55 Item 4. Mine Safety Disclosures 55 Item 5. Other Information 55 Item 6. Exhibits 56

Signatures

Signatures 57 2 Table of Contents

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements Juniata Valley Financial Corp. and Subsidiary Consolidated Statements of Financial Condition (Unaudited) (Dollars in thousands, except share data) September 30, 2024 December 31, 2023 ASSETS Cash and due from banks $ 6,152 $ 17,189 Interest bearing deposits with banks 5,783 11,741 Cash and cash equivalents 11,935 28,930 Equity securities 1,139 1,073 Debt securities available for sale 66,299 67,564 Debt securities held to maturity (fair value $ 193,108 and $ 198,147 , respectively) 193,762 200,644 Restricted investment in bank stock 1,885 1,707 Total loans 538,250 525,394 Less: Allowance for credit losses ( 6,124 ) ( 5,677 ) Total loans, net of allowance for credit losses 532,126 519,717 Premises and equipment, net 9,514 8,180 Bank owned life insurance and annuities 15,038 14,841 Investment in low income housing partnerships 912 1,154 Core deposit and other intangible assets 279 343 Goodwill 9,812 9,812 Mortgage servicing rights 76 83 Deferred tax asset 9,950 11,319 Accrued interest receivable and other assets 5,229 5,188 Total assets $ 857,956 $ 870,555 LIABILITIES AND STOCKHOLDERS' EQUITY Liabilities: Deposits: Non-interest bearing $ 197,474 $ 197,027 Interest bearing 555,440 552,018 Total deposits 752,914 749,045 Short-term borrowings and repurchase agreements 45,721 52,810 Long-term debt 5,000 20,000 Other interest bearing liabilities 823 951 Accrued interest payable and other liabilities 6,956 7,612 Total liabilities 811,414 830,418 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 September 30, 2024 and December 31, 2023; Outstanding - 5,003,384 shares at September 30, 2024 and 4,9

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) 1. BASIS OF PRESENTATION AND ACCOUNTING POLICIES The consolidated financial statements include the accounts of Juniata Valley Financial Corp. (the "Company" or "Juniata") and its wholly owned subsidiary, The Juniata Valley Bank (the "Bank" or "JVB"). All significant intercompany accounts and transactions have been eliminated. The accompanying unaudited consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles ("U.S. GAAP") for interim financial information. Accordingly, they do not include all the information and footnotes required by U.S. GAAP for complete consolidated financial statements. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts in the financial statements and accompanying notes. Actual results may differ from those estimates, and such differences could be material to the financial statements. Estimates that are particularly susceptible to material change include the determination of the allowance for credit losses and possible impairment of goodwill and other intangible assets. In the opinion of management, all adjustments considered necessary for fair presentation have been included. Operating results for the three and nine months ended September 30, 2024 are not necessarily indicative of the results that can be expected for the year ending December 31, 2024. For further information, refer to the consolidated financial statements and notes thereto included in Juniata Valley Financial Corp.'s Annual Report on Form 10-K/A ("Annual Report") for the year ended December 31, 2023. The Company has evaluated events and transactions occurring subsequent to the consolidated statement of financial condition date of September 30, 2024 for items that should potentially be recognized or disclosed in these consolidated financial statements. T

View Full Filing

View this 10-Q filing on SEC EDGAR