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Subsequent Events
3 Months Ended
Mar. 31, 2020
Subsequent Events [Abstract]  
Subsequent Events

14. SUBSEQUENT EVENTS

On April 21, 2020, the Board of Directors declared a cash dividend of $0.22 per share to shareholders of record on May 18, 2020, payable on June 1, 2020.

On March 27, 2020, the CARES Act was enacted, establishing the Paycheck Protection Program (“PPP”) which is administered by the Small Business Administration (“SBA”). The PPP is intended to provide economic relief to small businesses nationwide adversely impacted under the COVID-19 Emergency Declaration issued on March 13, 2020. The PPP, which began on April 3, 2020, provides small businesses with funds to cover up to eight weeks of payroll costs, including benefits. It also provides for forgiveness of up to the full principal amount of qualifying loans. The Company is participating in the PPP, and as of April 30, 2020, has funded 395 PPP loans totaling $30,041,000.  

Additionally, in an effort to assist clients who were negatively impacted by the COVID-19 pandemic, the Company continues to approve interest and/or principal payment deferrals on loans for individuals and businesses affected by the economic impacts of the COVID-19 pandemic. As of April 30, 2020, Juniata approved interest and/or principal payment deferrals on 200 loans totaling $72,865,000 for individuals and businesses affected by the economic impacts of COVID-19. None of the borrowers approved for these designated deferrals were delinquent as of the date of this quarterly report. The modification terms of these loans are short-term; thus, the loan modifications are not considered to be troubled-debt restructures.

Due to the effects of the COVID-19 pandemic, operations and business results of the Company could be materially adversely affected, negatively impacting material estimates. Material estimates that are particularly susceptible to significant change include the determination of the allowance and those used in valuation methodologies in areas with no observable market, such as loans, deposits, borrowings, goodwill, core deposit and other intangible assets, and mortgage servicing rights. The extent to which COVID-19 may impact business activity or investment results will depend on future developments, which are highly uncertain and cannot be predicted, including new information which may emerge concerning the severity of COVID-19 and the actions required to contain COVID-19 or treat its impact, among others.