Juniata Valley Financial Corp. (Parent Company Only) Financial Information (Tables)

12 Months Ended

Dec. 31, 2019

CONDENSED BALANCE SHEETS

(Dollars in thousands)


	December 31,
	2019		2018
ASSETS
Cash and cash equivalents	$	80	$	48
Investment in bank subsidiary		72,353		65,909
Equity securities		947		940
Debt securities available for sale		253		253
Other assets		99		641
TOTAL ASSETS	$	73,732	$	67,791

LIABILITIES
Accounts payable and other liabilities	$	25	$	413

STOCKHOLDERS’ EQUITY		73,707		67,378
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	73,732	$	67,791

CONDENSED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME

(Dollars in thousands)


	Years Ended December 31,
	2019		2018
INCOME
Interest and dividends on investment securities available for sale	$	47	$	44
Dividends from bank subsidiary		4,489		4,923
Income from unconsolidated subsidiary		—		296
Change in value of equity securities		8		26
TOTAL INCOME		4,544		5,289
EXPENSE
Merger-related expenses		—		134
Other non-interest expense		176		155
TOTAL EXPENSE		176		289
INCOME BEFORE INCOME TAXES AND EQUITY
IN UNDISTRIBUTED NET INCOME OF SUBSIDIARY		4,368		5,000
Income tax (benefit) expense		(35)		(347)
		4,403		5,347
Undistributed net income of subsidiary		1,432		557
NET INCOME	$	5,835	$	5,904

CONDENSED STATEMENTS OF CASH FLOWS

(Dollars in thousands)


	Years Ended December 31,
	2019		2018
Cash flows from operating activities:
Net income	$	5,835	$	5,904
Adjustments to reconcile net income to net cash provided by operating activities:
Undistributed net income of subsidiary		(1,432)		(556)
Change in value of equity securities		(8)		(26)
Equity in earnings of unconsolidated subsidiary, net of dividends of $0 and $75		—		194
Equity gain from acquisition of unconsolidated subsidiary		—		(415)
Stock-based compensation expense		113		82
Decrease (increase) in other assets		429		(93)
Decrease in taxes payable		(402)		(402)
Increase (decrease) in accounts payable and other liabilities		14		(12)
Net cash provided by operating activities		4,549		4,676

Cash flows from investing activities:
Net cash received from acquisition		—		(1,361)
Net cash used in investing activities		—		(1,361)

Cash flows from financing activities:
Cash dividends		(4,489)		(4,411)
Purchase of treasury stock		(428)		(70)
Treasury stock issued for stock plans		400		90
Common stock issued for stock plans		—		42
Net cash used in financing activities		(4,517)		(4,349)
Net increase (decrease) in cash and cash equivalents		32		(1,034)
Cash and cash equivalents at beginning of year		48		1,082
Cash and cash equivalents at end of year	$	80	$	48