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Juniata Valley Financial (JUVF)

Juniata Valley Financial Corp. (the “Company” or “Juniata”) is a Pennsylvania corporation that was formed in 1983 as a result of a plan of merger and reorganization of The Juniata Valley Bank (the “Bank”). The plan received regulatory approval on June 7, 1983, and Juniata, a one-bank holding company, registered under the Bank Holding Company Act of 1956. The Bank is the oldest independent commercial bank in Juniata and Mifflin Counties, having originated under a state bank charter in 1867. The Company has one reportable segment, consisting of the Bank, as described in Note 2 of The Notes to Consolidated Financial Statements.

JUVF stock data

Calendar

13 May 22
12 Aug 22
31 Dec 22
Quarter (USD) Mar 22 Dec 21 Sep 21 Jun 21
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Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
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Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
9 Aug 22 Michael W. Wolf Common Stock Buy Acquire P No No 15.25 100 1.53K 1,000
4 Aug 22 Havice Timothy I Common Stock Buy Acquire P No No 15 2,000 30K 29,427
3 Aug 22 Havice Timothy I Common Stock Buy Acquire P No No 15 701 10.52K 27,427
2 Aug 22 Havice Timothy I Common Stock Buy Acquire P No No 15 609 9.14K 26,726
29 Jul 22 Havice Timothy I Common Stock Buy Acquire P No No 15 200 3K 26,117
26 Jul 22 Havice Timothy I Common Stock Buy Acquire P No No 15 100 1.5K 25,917

Financial report summary

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Management Discussion
  • Net income for Juniata in 2021 was $6,604,000, compared to net income of $5,602,000 for 2020. Earnings per share on a fully diluted basis increased from $1.10 in 2020 to $1.32 in 2021. Return on average assets (“ROA”) for the years ended December 31, 2021 and 2020 was 0.81% and 0.76%, respectively, while the return on average equity (“ROE”) for 2021 was 8.97% compared to 7.37% in 2020.
  • The net interest margin, on a fully tax-equivalent basis, decreased from 3.00% in 2020 to 2.83% in 2021. The yield on earning assets decreased 34 basis points, to 3.21%, while the cost of funds decreased 22 basis points, to 0.58%, in 2021 compared to 2020.
  • Since the start of the COVID-19 pandemic in 2020, Juniata implemented several initiatives to address the impact of the pandemic on its customers, employees and markets. Juniata participated in the PPP in both 2020 and 2021 to offer relief for its customers and those within its market area. Despite the effects of the economic downturn and supply chain disruptions during the pandemic, Juniata’s asset quality measures remained strong in 2021. As a result, Juniata recorded a credit of $769,000 to the allowance for loan losses in 2021 compared to an expense of $721,000 in 2020 when the outlook for inherent losses in the loan portfolio was very uncertain.

Content analysis

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