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)
	March 31,			December 31,
	2014			2013
ASSETS
Cash and due from banks	$	10,570		$	8,570
Interest bearing deposits with banks		4,318			43
Cash and cash equivalents		14,888			8,613
Interest bearing time deposits with banks		249			249
Securities available for sale		124,515			126,046
Restricted investment in Federal Home Loan Bank (FHLB) stock		1,602			1,967
Investment in unconsolidated subsidiary		4,199			4,172
Loans		275,983			277,798
Less: Allowance for loan losses		(2,300	)		(2,287	)
Total loans, net of allowance for loan losses		273,683			275,511
Premises and equipment, net		6,246			6,330
Other real estate owned		340			281
Bank owned life insurance and annuities		14,953			14,848
Equity investment in low income housing project		4,203			3,990
Core deposit intangible		108			119
Goodwill		2,046			2,046
Mortgage servicing rights		169			167
Accrued interest receivable and other assets		4,709			4,443
Total assets	$	451,910		$	448,782
LIABILITIES AND STOCKHOLDERS' EQUITY
Liabilities:
Deposits:
Non-interest bearing	$	80,661		$	74,611
Interest bearing		311,720			305,034
Total deposits		392,381			379,645
Securities sold under agreements to repurchase		4,038			5,397
Short-term borrowings		-			8,400
Other interest bearing liabilities		1,357			1,356
Accrued interest payable and other liabilities		3,784			4,000
Total liabilities		401,560			398,798
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 -
4,196,266 shares at March 31, 2014;
4,196,266 shares at December 31, 2013		4,746			4,746
Surplus		18,380			18,370
Retained earnings		39,098			39,118
Accumulated other comprehensive loss		(1,283	)		(1,659	)
Cost of common stock in Treasury:
549,560 shares at March 31, 2014;
549,560 shares at December 31, 2013		(10,591	)		(10,591	)
Total stockholders' equity		50,350			49,984
Total liabilities and stockholders' equity	$	451,910		$	448,782

(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 and per share data)

	Three Months Ended
	March 31,
	2014			2013
Interest income:
Loans, including fees	$	3,550		$	3,690
Taxable securities		355			297
Tax-exempt securities		130			151
Other interest income		1			6
Total interest income		4,036			4,144
Interest expense:
Deposits		621			757
Securities sold under agreements to repurchase		1			1
Short-term borrowings		1			-
Other interest bearing liabilities		4			5
Total interest expense		627			763
Net interest income		3,409			3,381
Provision for loan losses		20			80
Net interest income after provision for loan losses		3,389			3,301
Non-interest income:
Customer service fees		268			310
Debit card fee income		203			194
Earnings on bank-owned life insurance and annuities		97			97
Trust fees		76			89
Commissions from sales of non-deposit products		112			116
Income from unconsolidated subsidiary		37			54
Fees derived from loan activity		38			60
Gain on sales of loans		29			96
Gain on calls of securities		5			1
Other non-interest income		55			60
Total non-interest income		920			1,077
Non-interest expense:
Employee compensation expense		1,352			1,223
Employee benefits		403			462
Occupancy		282			245
Equipment		114			120
Data processing expense		380			354
Director compensation		57			57
Professional fees		99			95
Taxes, other than income		107			123
FDIC Insurance premiums		81			90
Gain on sales of other real estate owned		(18	)		(26	)
Amortization of intangibles		11			11
Amortization of investment in low-income housing partnership		120			-
Other non-interest expense		348			281
Total non-interest expense		3,336			3,035
Income before income taxes		973			1,343
Provision for income taxes		70			337
Net income	$	903		$	1,006
Earnings per share
Basic	$	0.22		$	0.24
Diluted	$	0.22		$	0.24
Cash dividends declared per share	$	0.22		$	0.22
Weighted average basic shares outstanding		4,196,266			4,218,361
Weighted average diluted shares outstanding		4,196,614			4,219,526

Juniata Valley Financial Corp. and Subsidiary

Consolidated Statements of Income

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

	Three Months Ended
	March 31,			December 31,
	2014			2013
Interest income:
Loans, including fees	$	3,550		$	3,728
Taxable securities		355			329
Tax-exempt securities		130			136
Other interest income		1			-
Total interest income		4,036			4,193
Interest expense:
Deposits		621			667
Securities sold under agreements to repurchase		1			1
Short-term borrowings		1			4
Other interest bearing liabilities		4			5
Total interest expense		627			677
Net interest income		3,409			3,516
Provision for loan losses		20			149
Net interest income after provision for loan losses		3,389			3,367
Non-interest income:
Customer service fees		268			329
Debit card fee income		203			212
Earnings on bank-owned life insurance and annuities		97			99
Trust fees		76			98
Commissions from sales of non-deposit products		112			83
Income from unconsolidated subsidiary		37			91
Fees derived from loan activity		38			94
Gain on sales of loans		29			18
Gain (loss) on calls of securities		5			(2	)
Other non-interest income		55			56
Total non-interest income		920			1,078
Non-interest expense:
Employee compensation expense		1,352			1,445
Employee benefits		403			370
Occupancy		282			252
Equipment		114			112
Data processing expense		380			368
Director compensation		57			54
Professional fees		99			107
Taxes, other than income		107			121
FDIC Insurance premiums		81			84
Gain on sales of other real estate owned		(18	)		(2	)
Amortization of intangibles		11			11
Amortization of investment in low-income housing partnership		120			158
Other non-interest expense		348			352
Total non-interest expense		3,336			3,432
Income before income taxes		973			1,013
Provision for income taxes		70			46
Net income	$	903		$	967
Earnings per share
Basic	$	0.22		$	0.23
Diluted	$	0.22		$	0.23
Cash dividends declared per share	$	0.22		$	0.22
Weighted average basic shares outstanding		4,196,266			4,196,471
Weighted average diluted shares outstanding		4,196,614			4,196,603