Juniata Valley Financial Corp. (Parent Company Only)

12 Months Ended

Dec. 31, 2012

Juniata Valley Financial Corp. (Parent Company Only) [Abstract]

JUNIATA VALLEY FINANCIAL CORP. (PARENT COMPANY ONLY)

25.  Juniata Valley Financial Corp. (Parent Company Only)

Financial information:

CONDENSED BALANCE SHEETS
(in thousands)
	December 31,
		2012		2011
ASSETS:
Cash and cash equivalents	$	231	$	38
Investment in bank subsidiary		45,285		43,798
Investment in unconsolidated subsidiary		4,000		3,796
Investment securities available for sale		954		2,090
Other assets		15		28
TOTAL ASSETS	$	50,485	$	49,750
LIABILITIES:
Accounts payable and other liabilities	$	188	$	30
STOCKHOLDERS' EQUITY		50,297		49,720
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$	50,485	$	49,750

CONDENSED STATEMENTS OF INCOME
(in thousands)
		Years Ended December 31,
		2012		2011		2010
INCOME:
Interest and dividends on investment securities available for sale	$	41	$	44	$	40
Dividends from bank subsidiary		2,793		4,217		4,519
Income from unconsolidated subsidiary		249		263		250
Securities impairment charge		-		-		(40)
TOTAL INCOME		3,083		4,524		4,769
EXPENSE:
Non-interest expense		80		140		119
TOTAL EXPENSE		80		140		119
INCOME BEFORE INCOME TAXES AND EQUITY
IN UNDISTRIBUTED NET INCOME OF SUBSIDIARY		3,003		4,384		4,650
Income tax expense		47		36		21
		2,956		4,348		4,629
Undistributed net income of subsidiary		692		332		286
NET INCOME	$	3,648	$	4,680	$	4,915

CONDENSED STATEMENTS OF CASH FLOWS
(in thousands)
	Years Ended December 31,
		2012		2011		2010
Cash flows from operating activities:
Net income	$	3,648	$	4,680	$	4,915
Adjustments to reconcile net income to net cash provided by operating activities:
Undistributed net income of subsidiary		(692)		(332)		(286)
Net amortization of securities premiums		2		2		2
Securities impairment charges		-		-		40
Equity in earnings of unconsolidated subsidiary, net of dividends of $45, $29 and $40		(204)		(234)		(210)
Decrease (increase) in other assets		12		2		(1)
Increase in taxes payable		127		68		22
Increase (decrease) in accounts payable and other liabilities		(2)		19		(14)
Net cash provided by operating activities		2,891		4,205		4,468
Cash flows from investing activities:
Purchases of available for sale securities		-		(50)		-
Proceeds from the maturity of available for sale investment securities		1,235		-		-
Proceeds from the maturity of interest bearing time deposits		-		-		75
Net cash provided by (used in) investing activities		1,235		(50)		75
Cash flows from financing activities:
Cash dividends		(3,724)		(3,648)		(3,525)
Purchase of treasury stock		(360)		(589)		(1,476)
Treasury stock issued for dividend reinvestment and employee stock purchase plan		151		66		61
Net cash used in financing activities		(3,933)		(4,171)		(4,940)
Net increase (decrease) in cash and cash equivalents		193		(16)		(397)
Cash and cash equivalents at beginning of year		38		54		451
Cash and cash equivalents at end of year	$	231	$	38	$	54