Juniata Valley Financial to Acquire First Milton Financial for $22.5M

Ticker: JUVF · Form: 8-K · Filed: May 21, 2024 · CIK: 714712

Juniata Valley Financial Corp 8-K Filing Summary
FieldDetail
CompanyJuniata Valley Financial Corp (JUVF)
Form Type8-K
Filed DateMay 21, 2024
Risk Levelmedium
Pages2
Reading Time2 min
Sentimentmixed

Sentiment: mixed

Topics: acquisition, financials, banking

Related Tickers: JVFC, FMF

TL;DR

JVFC buying FMF for $22.5M cash, $15/share. Deal closes Q4.

AI Summary

Juniata Valley Financial Corp. announced on May 21, 2024, that it has entered into a definitive agreement to acquire First Milton Financial Corp. The transaction is valued at approximately $22.5 million, with First Milton shareholders to receive $15.00 in cash for each share of common stock they own.

Why It Matters

This acquisition will expand Juniata Valley Financial's reach and customer base, potentially leading to increased market share and profitability in the banking sector.

Risk Assessment

Risk Level: medium — Acquisitions carry inherent risks, including integration challenges, regulatory hurdles, and potential impacts on financial performance.

Key Numbers

  • $22.5M — Acquisition Value (Total price for First Milton Financial Corp.)
  • $15.00 — Price Per Share (Cash consideration for First Milton shareholders)

Key Players & Entities

  • Juniata Valley Financial Corp. (company) — Acquiring company
  • First Milton Financial Corp. (company) — Acquired company
  • $22.5 million (dollar_amount) — Total acquisition value
  • $15.00 (dollar_amount) — Cash price per share
  • May 21, 2024 (date) — Announcement date
  • Q4 2024 (date) — Expected closing quarter

FAQ

What is the total value of the acquisition?

The total value of the acquisition is approximately $22.5 million.

What will First Milton Financial Corp. shareholders receive?

First Milton Financial Corp. shareholders will receive $15.00 in cash for each share of common stock they own.

When is the acquisition expected to close?

The acquisition is expected to close in the fourth quarter of 2024.

Who is the acquiring company?

Juniata Valley Financial Corp. is the acquiring company.

Who is the company being acquired?

First Milton Financial Corp. is the company being acquired.

Filing Stats: 473 words · 2 min read · ~2 pages · Grade level 10.4 · Accepted 2024-05-21 14:55:20

Filing Documents

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure On May 21, 2024, Juniata Valley Financial Corp. (the "Company") held its Annual Meeting of Shareholders ("Annual Meeting"). The slides used and presented at the Annual Meeting are attached as Exhibit 99.1 to this Current Report on Form 8-K. This Current Report is being furnished pursuant to Regulation FD and no part of this Report shall be deemed "filed" for any purpose.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. Exhibits. The exhibits listed in the Exhibit Index accompanying this Form 8-K are furnished herewith. Exhibit Index Exhibit No. Description 99.1 Annual Meeting of Shareholders Presentation of Juniata Valley Financial Corp. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. Juniata Valley Financial Corp. Date: May 21, 2024 By: /s/ Michael W. Wolf Name: Michael W. Wolf Title: EVP, Chief Financial Officer

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