Juniata Valley Financial (JUVF) 8-K Juniata Valley Financial Corp. Announces Earnings and Declares Dividend

Exhibit 99.2

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

	(1)			(2)
	June 30,			December 31,
	2011			2010
ASSETS
Cash and due from banks	$	11,495		$	12,758
Interest bearing deposits with banks		1,784			218
Federal funds sold		2,500			12,300
Cash and cash equivalents		15,779			25,276
Interest bearing time deposits with banks		1,096			1,345
Securities available for sale		111,995			79,923
Restricted investment in Federal Home Loan Bank (FHLB) stock		1,884			2,088
Investment in unconsolidated subsidiary		3,666			3,550
Total loans, net of unearned interest		292,009			298,102
Less: Allowance for loan losses		(2,881	)		(2,824	)
Total loans, net of allowance for loan losses		289,128			295,278
Premises and equipment, net		6,890			7,067
Other real estate owned		163			412
Bank owned life insurance and annuities		13,830			13,568
Core deposit intangible		232			254
Goodwill		2,046			2,046
Accrued interest receivable and other assets		5,295			4,946
Total assets	$	452,004		$	435,753
LIABILITIES AND STOCKHOLDERS’ EQUITY
Liabilities:
Deposits:
Non-interest bearing	$	60,275		$	60,696
Interest bearing		333,278			316,094
Total deposits		393,553			376,790
Securities sold under agreements to repurchase		2,453			3,314
Other interest bearing liabilities		1,218			1,200
Accrued interest payable and other liabilities		4,294			4,473
Total liabilities		401,518			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 -
4,236,168 shares at June 30, 2011; 4,257,765 shares at December 31, 2010		4,746			4,746
Surplus		18,356			18,354
Retained earnings		38,414			37,868
Accumulated other comprehensive loss		(1,142	)		(1,465	)
Cost of common stock in Treasury: 509,658 shares at June 30, 2011; 488,061 shares at December 31, 2010		(9,888	)		(9,527	)
Total stockholders’ equity		50,486			49,976
Total liabilities and stockholders’ equity	$	452,004		$	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)

	Three Months Ended					Six Months Ended
	June 30,					June 30,
	2011			2010		2011		2010
Interest income:
Loans, including fees	$	4,484		$	4,896	$	9,076	$	9,932
Taxable securities		313			263		566		496
Tax-exempt securities		234			264		467		539
Federal funds sold		2			3		4		4
Other interest income		7			10		15		19
Total interest income		5,040			5,436		10,128		10,990
Interest expense:
Deposits		1,191			1,347		2,366		2,866
Securities sold under agreements to repurchase		—			—		1		1
Short-term borrowings		—			—		—		1
Long-term debt		—			36		—		70
Other interest bearing liabilities		7			4		14		7
Total interest expense		1,198			1,387		2,381		2,945
Net interest income		3,842			4,049		7,747		8,045
Provision for loan losses		116			282		204		567
Net interest income after provision for loan losses		3,726			3,767		7,543		7,478
Noninterest income:
Trust fees		94			90		207		210
Customer service fees		349			387		661		769
Earnings on bank-owned life insurance and annuities		124			138		243		260
Commissions from sales of non-deposit products		65			125		168		221
Income from unconsolidated subsidiary		66			63		131		119
Gain on sales or calls of securities		1			15		6		27
Gain (Loss) on sales of other assets		(1	)		7		14		6
Other noninterest income		303			199		595		435
Total noninterest income		1,001			1,024		2,025		2,047
Noninterest expense:
Employee compensation expense		1,337			1,308		2,592		2,594
Employee benefits		423			403		824		819
Occupancy		252			216		495		449
Equipment		146			136		301		255
Data processing expense		337			346		659		711
Director compensation		70			86		147		173
Professional fees		91			136		230		229
Taxes, other than income		124			125		251		255
FDIC Insurance premiums		85			150		218		297
Amortization of intangibles		11			12		22		23
Other noninterest expense		423			381		738		639
Total noninterest expense		3,299			3,299		6,477		6,444
Income before income taxes		1,428			1,492		3,091		3,081
Provision for income taxes		337			354		761		755
Net income	$	1,091		$	1,138	$	2,330	$	2,326
Earnings per share
Basic	$	0.26		$	0.26	$	0.55	$	0.54
Diluted	$	0.26		$	0.26	$	0.55	$	0.54
Cash dividends declared per share	$	0.21		$	0.20	$	0.42	$	0.40
Weighted average basic shares outstanding		4,237,886			4,309,610		4,246,884		4,319,816
Weighted average diluted shares outstanding		4,240,781			4,312,778		4,249,900		4,323,423

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

	For the Quarter Ended
	June 30,			March 31,
	2011			2011
Interest income:
Loans, including fees	$	4,484		$	4,592
Taxable securities		313			253
Tax-exempt securities		234			233
Federal funds sold		2			2
Other interest income		7			8
Total interest income		5,040			5,088
Interest expense:
Deposits		1,191			1,175
Securities sold under agreements to repurchase		—			1
Other interest bearing liabilities		7			7
Total interest expense		1,198			1,183
Net interest income		3,842			3,905
Provision for loan losses		116			88
Net interest income after provision for loan losses		3,726			3,817
Noninterest income:
Trust fees		94			113
Customer service fees		349			312
Earnings on bank-owned life insurance and annuities		124			119
Commissions from sales of non-deposit products		65			103
Income from unconsolidated subsidiary		66			65
Gain on sale or call of securities		1			5
Gain (Loss) on sales of other assets		(1	)		15
Other noninterest income		303			292
Total noninterest income		1,001			1,024
Noninterest expense:
Employee compensation expense		1,337			1,255
Employee benefits		423			401
Occupancy		252			243
Equipment		146			155
Data processing expense		337			322
Director compensation		70			77
Professional fees		91			139
Taxes, other than income		124			127
FDIC Insurance premiums		85			133
Amortization of intangibles		11			11
Other noninterest expense		423			315
Total noninterest expense		3,299			3,178
Income before income taxes		1,428			1,663
Provision for income taxes		337			424
Net income	$	1,091		$	1,239
Earnings per share
Basic	$	0.26		$	0.29
Diluted	$	0.26		$	0.29
Cash dividends declared per share	$	0.21		$	0.21