Juniata Valley Financial (JUVF) 8-K Results of Operations and Financial Condition

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,
		2013			2012
ASSETS
Cash and due from banks	$	9,007		$	14,261
Interest bearing deposits with banks		202			136
Cash and cash equivalents		9,209			14,397
Interest bearing time deposits with banks		847			847
Securities available for sale		129,100			122,338
Restricted investment in Federal Home Loan Bank (FHLB) stock		1,733			1,726
Investment in unconsolidated subsidiary		4,063			4,000
Loans held for sale		384			-
Loans		275,260			277,500
Less: Allowance for loan losses		(2,375	)		(3,281	)
Total loans, net of allowance for loan losses		272,885			274,219
Premises and equipment, net		6,257			6,472
Other real estate owned		117			428
Bank owned life insurance and annuities		14,631			14,402
Equity investment in low income housing project		3,968			3,796
Core deposit intangible		142			164
Goodwill		2,046			2,046
Accrued interest receivable and other assets		4,430			4,034
Total assets	$	449,812		$	448,869
LIABILITIES AND STOCKHOLDERS' EQUITY
Liabilities:
Deposits:
Non-interest bearing	$	70,844		$	71,318
Interest bearing		319,872			315,433
Total deposits		390,716			386,751
Securities sold under agreements to repurchase		3,355			3,836
Short-term borrowings		1,000			1,600
Other interest bearing liabilities		1,328			1,305
Accrued interest payable and other liabilities		4,440			5,080
Total liabilities		400,839			398,572
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 -
4,215,184 shares at June 30, 2013;
4,218,361 shares at December 31, 2012		4,746			4,746
Surplus		18,354			18,346
Retained earnings		38,982			38,824
Accumulated other comprehensive loss		(2,855	)		(1,419	)
Cost of common stock in Treasury:
530,642 shares at June 30, 2013;
527,465 shares at December 31, 2012		(10,254	)		(10,200	)
Total stockholders' equity		48,973			50,297
Total liabilities and stockholders' equity	$	449,812		$	448,869

(1) Unaudited

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

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Juniata Valley Financial Corp. and Subsidiary

Consolidated Statements of Income

(Unaudited, in thousands, except share and per share data)

	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2013			2012			2013			2012
Interest income:
Loans, including fees	$	3,707		$	4,074		$	7,397		$	8,269
Taxable securities		312			337			609			667
Tax-exempt securities		147			186			298			364
Other interest income		7			8			13			16
Total interest income		4,173			4,605			8,317			9,316
Interest expense:
Deposits		736			918			1,493			1,883
Securities sold under agreements to repurchase		1			-			2			1
Other interest bearing liabilities		4			6			9			12
Total interest expense		741			924			1,504			1,896
Net interest income		3,432			3,681			6,813			7,420
Provision for loan losses		86			69			166			1,177
Net interest income after provision for loan losses		3,346			3,612			6,647			6,243
Non-interest income:
Customer service fees		310			321			620			634
Debit card fee income		205			205			399			409
Earnings on bank-owned life insurance and annuities		108			105			205			211
Trust fees		85			114			174			220
Commissions from sales of non-deposit products		103			73			219			160
Income from unconsolidated subsidiary		50			61			104			118
Fees derived from loan activity		52			56			112			95
Gains on sales of loans		85			140			181			205
Gains on calls of securities		-			2			1			2
Gain from life insurance proceeds		-			53			-			53
Other non-interest income		57			65			117			130
Total non-interest income		1,055			1,195			2,132			2,237
Non-interest expense:
Employee compensation expense		1,387			1,289			2,610			2,567
Employee benefits		384			478			846			1,013
Occupancy		240			229			485			458
Equipment		114			126			234			259
Data processing expense		361			354			715			710
Director compensation		56			60			113			119
Professional fees		91			93			186			181
Taxes, other than income		119			113			242			231
FDIC Insurance premiums		82			81			172			160
Gain on sales of other real estate owned		(8	)		(3	)		(34	)		(1	)
Amortization of intangibles		11			11			22			22
Amortization of investment in low-income housing partnership		145			-			145			-
Other non-interest expense		348			389			629			746
Total non-interest expense		3,330			3,220			6,365			6,465
Income before income taxes		1,071			1,587			2,414			2,015
Provision for income taxes		62			372			399			382
Net income	$	1,009		$	1,215		$	2,015		$	1,633
Earnings per share
Basic	$	0.24		$	0.29		$	0.48		$	0.39
Diluted	$	0.24		$	0.29		$	0.48		$	0.39
Cash dividends declared per share	$	0.22		$	0.22		$	0.44		$	0.44
Weighted average basic shares outstanding		4,218,206			4,231,690			4,218,283			4,229,954
Weighted average diluted shares outstanding		4,219,606			4,234,321			4,219,570			4,232,842

See Notes to Consolidated Financial Statements

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Juniata Valley Financial Corp. and Subsidiary

Consolidated Statements of Income

(Unaudited, in thousands, except share and per share data)

	Three Months Ended
	June 30,			March 31,
	2013			2013
Interest income:
Loans, including fees	$	3,707		$	3,690
Taxable securities		312			297
Tax-exempt securities		147			151
Other interest income		7			6
Total interest income		4,173			4,144
Interest expense:
Deposits		736			757
Securities sold under agreements to repurchase		1			1
Other interest bearing liabilities		4			5
Total interest expense		741			763
Net interest income		3,432			3,381
Provision for loan losses		86			80
Net interest income after provision for loan losses		3,346			3,301
Non-interest income:
Customer service fees		310			310
Debit card fee income		205			194
Earnings on bank-owned life insurance and annuities		108			97
Trust fees		85			89
Commissions from sales of non-deposit products		103			116
Income from unconsolidated subsidiary		50			54
Fees derived from loan activity		52			60
Gains on sales of loans		85			96
Gains on calls of securities		-			1
Other non-interest income		57			60
Total non-interest income		1,055			1,077
Non-interest expense:
Employee compensation expense		1,387			1,223
Employee benefits		384			462
Occupancy		240			245
Equipment		114			120
Data processing expense		361			354
Director compensation		56			57
Professional fees		91			95
Taxes, other than income		119			123
FDIC Insurance premiums		82			90
Gain on sales of other real estate owned		(8	)		(26	)
Amortization of intangibles		11			11
Amortization of investment in low-income housing partnership		145			-
Other non-interest expense		348			281
Total non-interest expense		3,330			3,035
Income before income taxes		1,071			1,343
Provision for income taxes		62			337
Net income	$	1,009		$	1,006
Earnings per share
Basic	$	0.24		$	0.24
Diluted	$	0.24		$	0.24
Cash dividends declared per share	$	0.22		$	0.22
Weighted average basic shares outstanding		4,218,206			4,218,361
Weighted average diluted shares outstanding		4,219,606			4,219,526

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