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

12 Months Ended

Dec. 31, 2023

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

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

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

CONDENSED BALANCE SHEETS

(Dollars in thousands)

	December 31,
	(As Restated)
	2023		2022
ASSETS
Cash and cash equivalents	$	150	$	59
Investment in bank subsidiary		39,112		34,705
Equity securities		879		872
Other assets		39		85
TOTAL ASSETS	$	40,180	$	35,721
LIABILITIES
Accounts payable and other liabilities	$	43	$	28
STOCKHOLDERS’ EQUITY		40,137		35,693
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	40,180	$	35,721

CONDENSED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME

(Dollars in thousands)

	Years Ended December 31,
			(As Restated)
	2023		2022
INCOME
Interest and dividends on investment securities available for sale	$	45	$	43
Dividends from bank subsidiary		4,772		4,401
Change in value of equity securities		7		(42)
Other non-interest income		6		—
TOTAL INCOME		4,830		4,402
EXPENSE
Other non-interest expense		149		138
TOTAL EXPENSE		149		138
INCOME BEFORE INCOME TAXES AND EQUITY
IN UNDISTRIBUTED NET INCOME OF SUBSIDIARY		4,681		4,264
Income tax benefit		(24)		(34)
		4,705		4,298
Undistributed net income of subsidiary		1,891		2,766
NET INCOME		6,596		7,064
OTHER COMPREHENSIVE INCOME (LOSS)		3,227		(38,502)
TOTAL COMPREHENSIVE INCOME (LOSS)	$	9,823	$	(31,438)

CONDENSED STATEMENTS OF CASH FLOWS

(Dollars in thousands)

	Years Ended December 31,
			(As Restated)
	2023		2022
Cash flows from operating activities:
Net income	$	6,596	$	7,064
Adjustments to reconcile net income to net cash provided by operating activities:
Undistributed net income of subsidiary		(1,891)		(2,766)
Change in value of equity securities		(7)		42
Decrease (increase) in other assets		46		(47)
Increase in other liabilities		15		16
Net cash provided by operating activities		4,759		4,309
Cash flows from investing activities:
Proceeds from the maturity of available for sale investment securities		—		—
Net cash provided by investing activities		—		—
Cash flows from financing activities:
Cash dividends		(4,406)		(4,401)
Purchase of treasury stock		(324)		(3)
Treasury stock issued for stock plans		62		69
Net cash used in financing activities		(4,668)		(4,335)
Net increase (decrease) in cash and cash equivalents		91		(26)
Cash and cash equivalents at beginning of year		59		85
Cash and cash equivalents at end of year	$	150	$	59