Content analysis
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Legalese | ||
Litigous | ||
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H.S. freshman Bad
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New words:
ACL, addressing, Appendix, architecture, augmented, banc, Bancorp, BB, breakage, BTFP, built, California, callable, cancellable, CAT, cattle, CFB, CFR, character, Clara, collaborate, compromise, concept, conceptual, contagion, coordinated, Coordinating, coordination, CPA, CRE, cybersecurity, DCF, departmental, digit, directionally, Disaster, driver, email, embedded, explain, explanatory, explicitly, feedback, FHLMC, FIS, Fitch, fluctuation, Francisco, GDP, implicitly, infrastructure, infusion, intelligence, ISO, Jolla, La, Lastly, lifetime, Likewise, managerial, mitigate, mitigation, Moody, nonaccrual, Notwithstanding, OBS, Occasionally, onboarding, organizational, overseeing, PACW, PacWest, paragraph, Path, peer, Philadelphia, phishing, principle, quantify, reaction, regression, repositioning, Republic, resilience, Safeguarding, sample, San, Santa, Signature, Silicon, Silvergate, situation, sought, speed, spent, Spring, stakeholder, steep, Steering, stream, studied, suspected, SVP, tabletop, unconditionally, uniformly, unrelated, upward, WARM, wind, York
Removed:
accretable, accretion, aforementioned, amend, amending, amendment, anchor, anchoring, appraisal, arrive, assigned, assignment, benchmark, broader, burden, carryover, certified, Codification, collecting, comparing, complexity, confirmation, confirming, consummation, deadline, deductibility, deficiency, depth, desired, deviate, discover, disposed, domestic, eliminating, emergence, eventual, evidenced, existence, expensing, Facilitation, fall, farmland, FASB, grouped, Huntingdon, imperfect, judgement, junior, LIBOR, liquidated, Liverpool, lowered, mathematical, measuring, narrative, necessitating, nonaccretable, nonfarm, occurring, OTTI, owed, peak, penalty, permanently, phased, pooled, PPPLF, predominantly, presence, prevailed, privileged, published, redefined, relying, resolved, retroactive, rolling, rose, score, segmented, seller, short, shortcut, significance, Simplify, site, split, stabilize, structured, substantive, systematic, systematically, TCJA, typical, unallocated, warrant
Financial report summary
?Management Discussion
- Net income for Juniata in 2023 was $6.6 million, a decrease of 20.7%, compared to net income of $8.3 million for 2022. Earnings per share on a fully diluted basis decreased 21.1%, to $1.31 in 2023, compared to $1.66 in 2022. Return on average assets (“ROA”) for the years ended December 31, 2023 and 2022 was 0.79% and 1.02%, respectively, while the return on average equity (“ROE”) for 2023 was 17.59% compared to 16.59% in 2022.
- The net interest margin, on a fully tax-equivalent basis, decreased from 3.10% in 2022 to 2.74% in 2023. The yield on earning assets increased 46 basis points, to 3.96%, while the cost of funds increased 115 basis points, to 1.75%, in 2023 compared to 2022. Higher market interest rates decreased the net interest margin in 2023 in comparison to 2022. Interest-earning assets, such as loans and investments, were originated or repriced at higher rates, increasing the average rate earned on those assets, while the average rate paid on interest bearing liabilities, such as deposits and borrowings, increased at a faster pace, impacting the net interest margin in 2023.
- Juniata strives to attain consistently satisfactory earnings levels each year by protecting the core (repeatable) earnings base through conservative growth strategies that seek to minimize shareholder and balance-sheet risk, while serving its rural Pennsylvania customer base. This approach has helped achieve solid performances year after year. The Company considers the return on assets ratio to be a key indicator of its success and constantly scrutinizes the broad categories of the income statement that impact this profitability indicator.