JUNIATA VALLEY FINANCIAL CORP. (PARENT COMPANY ONLY) FINANCIAL INFORMATION

12 Months Ended

Dec. 31, 2022

JUNIATA VALLEY FINANCIAL CORP. (PARENT COMPANY ONLY) FINANCIAL INFORMATION

JUNIATA VALLEY FINANCIAL CORP. (PARENT COMPANY ONLY) FINANCIAL INFORMATION

25. JUNIATA VALLEY FINANCIAL CORP. (PARENT COMPANY ONLY) FINANCIAL INFORMATION

CONDENSED BALANCE SHEETS

(Dollars in thousands)

	December 31,
	2022		2021
ASSETS
Cash and cash equivalents	$	59	$	85
Investment in bank subsidiary		35,961		70,265
Equity securities		872		914
Other assets		85		38
TOTAL ASSETS	$	36,977	$	71,302
LIABILITIES
Accounts payable and other liabilities	$	28	$	12
STOCKHOLDERS’ EQUITY		36,949		71,290
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	36,977	$	71,302

CONDENSED STATEMENTS OF INCOME AND COMPREHENSIVE LOSS

(Dollars in thousands)

	Years Ended December 31,
	2022		2021
INCOME
Interest and dividends on investment securities available for sale	$	43	$	43
Dividends from bank subsidiary		4,401		5,074
Change in value of equity securities		(42)		97
TOTAL INCOME		4,402		5,214
EXPENSE
Other non-interest expense		138		184
TOTAL EXPENSE		138		184
INCOME BEFORE INCOME TAXES AND EQUITY
IN UNDISTRIBUTED NET INCOME OF SUBSIDIARY		4,264		5,030
Income tax benefit		(34)		(25)
		4,298		5,055
Undistributed net income of subsidiary		4,022		1,549
NET INCOME		8,320		6,604
OTHER COMPREHENSIVE LOSS		(38,502)		(6,883)
TOTAL COMPREHENSIVE LOSS	$	(30,182)	$	(279)

CONDENSED STATEMENTS OF CASH FLOWS

(Dollars in thousands)

	Years Ended December 31,
	2022		2021
Cash flows from operating activities:
Net income	$	8,320	$	6,604
Adjustments to reconcile net income to net cash provided by operating activities:
Undistributed net income of subsidiary		(4,022)		(1,549)
Change in value of equity securities		42		(97)
(Increase) decrease in other assets		(47)		39
Increase in other liabilities		16		11
Net cash provided by operating activities		4,309		5,008
Cash flows from investing activities:
Proceeds from the maturity of available for sale investment securities		—		118
Net cash provided by investing activities		—		118
Cash flows from financing activities:
Cash dividends		(4,401)		(4,402)
Purchase of treasury stock		(3)		(861)
Treasury stock issued for stock plans		69		77
Net cash used in financing activities		(4,335)		(5,186)
Net decrease in cash and cash equivalents		(26)		(60)
Cash and cash equivalents at beginning of year		85		145
Cash and cash equivalents at end of year	$	59	$	85