Juniata Valley Financial (JUVF) 8-K Juniata Valley Financial Corp. Announces Increase in Quarterly Earnings Over Previous Year and Declares Dividend

Exhibit 99.2

Juniata Valley Financial Corp. and Subsidiary
Consolidated Statements of Financial Condition
( in thousands, except share data)

	(1)			(2)
	March 31,			December 31,
	2011			2010
ASSETS
Cash and due from banks	$	8,481		$	12,758
Interest bearing deposits with banks		147			218
Federal funds sold		4,900			12,300
Cash and cash equivalents		13,528			25,276
Interest bearing time deposits with banks		1,096			1,345
Securities available for sale		100,982			79,923
Restricted investment in Federal Home Loan Bank (FHLB) stock		1,983			2,088
Investment in unconsolidated subsidiary		3,607			3,550
Total loans, net of unearned interest		297,450			298,102
Less: Allowance for loan losses		(2,901	)		(2,824	)
Total loans, net of allowance for loan losses		294,549			295,278
Premises and equipment, net		6,943			7,067
Other real estate owned		340			412
Bank owned life insurance and annuities		13,693			13,568
Core deposit intangible		243			254
Goodwill		2,046			2,046
Accrued interest receivable and other assets		5,730			4,946
Total assets	$	444,740		$	435,753
LIABILITIES AND STOCKHOLDERS’ EQUITY
Liabilities:
Deposits:
Non-interest bearing	$	62,219		$	60,696
Interest bearing		324,198			316,094
Total deposits		386,417			376,790
Securities sold under agreements to repurchase		2,631			3,314
Other interest bearing liabilities		1,201			1,200
Accrued interest payable and other liabilities		4,588			4,473
Total liabilities		394,837			385,777
Stockholders’ Equity:
Preferred stock, no par value:
Authorized - 500,000 shares, none issued		—			—
Common stock, par value $1.00 per share:
Authorized - 20,000,000 shares
Issued - 4,745,826 shares
Outstanding -
4,238,265 shares at March 31, 2011; 4,257,765 shares at December 31, 2010		4,746			4,746
Surplus		18,360			18,354
Retained earnings		38,213			37,868
Accumulated other comprehensive loss		(1,558	)		(1,465	)
Cost of common stock in Treasury:
507,561 shares at March 31, 2011; 488,061 shares at December 31, 2010		(9,858	)		(9,527	)
Total stockholders’ equity		49,903			49,976
Total liabilities and stockholders’ equity	$	444,740		$	435,753

(1)	Unaudited
(2)	Unaudited but derived from audited financial statements; does not include related disclosures.

Juniata Valley Financial Corp. and Subsidiary
Consolidated Statements of Income
(Unaudited, in thousands, except share data)

	For the Quarter Ended
	March 31,
	2011		2010
Interest income:
Loans, including fees	$	4,592	$	5,036
Taxable securities		253		233
Tax-exempt securities		233		275
Federal funds sold		2		1
Other interest income		8		9
Total interest income		5,088		5,554
Interest expense:
Deposits		1,175		1,519
Securities sold under agreements to repurchase		1		1
Short-term borrowings		—		1
Long-term debt		—		34
Other interest bearing liabilities		7		3
Total interest expense		1,183		1,558
Net interest income		3,905		3,996
Provision for loan losses		88		285
Net interest income after provision for loan losses		3,817		3,711
Noninterest income:
Trust fees		113		120
Customer service fees		312		382
Earnings on bank-owned life insurance and annuities		119		122
Commissions from sales of non-deposit products		103		96
Income from unconsolidated subsidiary		65		56
Gain on sales or calls of securities		5		12
Gain (Loss) on sales of other assets		15		(1	)
Other noninterest income		292		236
Total noninterest income		1,024		1,023
Noninterest expense:
Employee compensation expense		1,255		1,286
Employee benefits		401		416
Occupancy		243		233
Equipment		155		119
Data processing expense		322		365
Director compensation		77		87
Professional fees		139		93
Taxes, other than income		127		130
FDIC Insurance premiums		133		147
Amortization of intangibles		11		11
Other noninterest expense		315		258
Total noninterest expense		3,178		3,145
Income before income taxes		1,663		1,589
Provision for income taxes		424		401
Net income	$	1,239	$	1,188
Earnings per share
Basic	$	0.29	$	0.27
Diluted	$	0.29	$	0.27
Cash dividends declared per share	$	0.21	$	0.20
Weighted average basic shares outstanding		4,255,982		4,330,136
Weighted average diluted shares outstanding		4,259,061		4,334,000

Juniata Valley Financial Corp. and Subsidiary
Consolidated Statements of Income
(Unaudited, in thousands, except share data)

	For the Quarter Ended
	March 31,		December 31,
	2011		2010
Interest income:
Loans, including fees	$	4,592	$	4,781
Taxable securities		253		220
Tax-exempt securities		233		232
Federal funds sold		2		3
Other interest income		8		9
Total interest income		5,088		5,245
Interest expense:
Deposits		1,175		1,233
Securities sold under agreements to repurchase		1		1
Other interest bearing liabilities		7		3
Total interest expense		1,183		1,237
Net interest income		3,905		4,008
Provision for loan losses		88		104
Net interest income after provision for loan losses		3,817		3,904
Noninterest income:
Trust fees		113		78
Customer service fees		312		324
Earnings on bank-owned life insurance and annuities		119		117
Commissions from sales of non-deposit products		103		57
Income from unconsolidated subsidiary		65		71
Gain on sale or call of securities		5		—
Gain on sales of other assets		15		43
Other noninterest income		292		261
Total noninterest income		1,024		951
Noninterest expense:
Employee compensation expense		1,255		1,226
Employee benefits		401		383
Occupancy		243		247
Equipment		155		162
Data processing expense		322		320
Director compensation		77		74
Professional fees		139		158
Taxes, other than income		127		90
FDIC Insurance premiums		133		99
Amortization of intangibles		11		11
Other noninterest expense		315		348
Total noninterest expense		3,178		3,118
Income before income taxes		1,663		1,737
Provision for income taxes		424		433
Net income	$	1,239	$	1,304
Earnings per share
Basic	$	0.29	$	0.31
Diluted	$	0.29	$	0.31
Cash dividends declared per share	$	0.21	$	0.21