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)
	December 31,			December 31,
	2014			2013
ASSETS
Cash and due from banks	$	6,757		$	8,570
Interest bearing deposits with banks		10			43
Cash and cash equivalents		6,767			8,613
Interest bearing time deposits with banks		-			249
Securities available for sale		142,903			126,046
Restricted investment in Federal Home Loan Bank (FHLB) stock		2,726			1,967
Investment in unconsolidated subsidiary		4,369			4,172
Loans		294,901			277,798
Less: Allowance for loan losses		(2,380	)		(2,287	)
Total loans, net of allowance for loan losses		292,521			275,511
Premises and equipment, net		6,533			6,330
Other real estate owned		232			281
Bank owned life insurance and annuities		14,807			14,848
Equity investment in low income housing project		3,847			3,990
Core deposit intangible		75			119
Goodwill		2,046			2,046
Mortgage servicing rights		193			167
Accrued interest receivable and other assets		3,510			4,443
Total assets	$	480,529		$	448,782
LIABILITIES AND STOCKHOLDERS' EQUITY
Liabilities:
Deposits:
Non-interest bearing	$	77,697		$	74,611
Interest bearing		303,187			305,034
Total deposits		380,884			379,645
Securities sold under agreements to repurchase		4,594			5,397
Short-term borrowings		15,950			8,400
Long-term debt		22,500			-
Other interest bearing liabilities		1,412			1,356
Accrued interest payable and other liabilities		5,333			4,000
Total liabilities		430,673			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 -
4,187,441 shares at December 31, 2014;
4,196,266 shares at December 31, 2013		4,746			4,746
Surplus		18,409			18,370
Retained earnings		39,644			39,118
Accumulated other comprehensive loss		(2,197	)		(1,659	)
Cost of common stock in Treasury:
558,385 shares at December 31, 2014;
549,560 shares at December 31, 2013		(10,746	)		(10,591	)
Total stockholders' equity		49,856			49,984
Total liabilities and stockholders' equity	$	480,529		$	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						Year Ended
	December 31,						December 31,
	2014			2013			2014		2013
Interest income:
Loans, including fees	$	3,687		$	3,728		$	14,465	$	14,868
Taxable securities		531			329			1,950		1,267
Tax-exempt securities		126			136			513		583
Other interest income		-			-			4		16
Total interest income		4,344			4,193			16,932		16,734
Interest expense:
Deposits		544			667			2,356		2,871
Securities sold under agreements to repurchase		1			1			4		4
Short-term borrowings		10			4			15		8
Long-term debt		69			-			207		-
Other interest bearing liabilities		4			5			16		17
Total interest expense		628			677			2,598		2,900
Net interest income		3,716			3,516			14,334		13,834
Provision for loan losses		110			149			357		415
Net interest income after provision for loan losses		3,606			3,367			13,977		13,419
Non-interest income:
Customer service fees		400			329			1,278		1,290
Debit card fee income		216			212			847		822
Earnings on bank-owned life insurance and annuities		92			99			391		416
Trust fees		107			98			438		355
Commissions from sales of non-deposit products		63			83			352		375
Income from unconsolidated subsidiary		88			91			236		237
Fees derived from loan activity		53			94			202		220
Mortgage banking income		75			18			214		283
(Loss) gain on sales and calls of securities		-			(2	)		9		(2	)
Gain from life insurance proceeds		-			-			165		-
Other non-interest income		57			56			202		237
Total non-interest income		1,151			1,078			4,334		4,233
Non-interest expense:
Employee compensation expense		1,558			1,445			5,876		5,413
Employee benefits		377			370			1,444		1,615
Occupancy		246			252			993		971
Equipment		126			112			470		462
Data processing expense		404			368			1,545		1,450
Director compensation		49			54			205		223
Professional fees		95			107			396		388
Taxes, other than income		78			121			340		483
FDIC Insurance premiums		79			84			310		331
(Gain) Loss on sales of other real estate owned		(2	)		(2	)		22		(39	)
Amortization of intangibles		11			11			45		45
Amortization of investment in low-income housing partnership		120			158			479		448
Other non-interest expense		354			352			1,445		1,356
Total non-interest expense		3,495			3,432			13,570		13,146
Income before income taxes		1,262			1,013			4,741		4,506
Provision for income taxes		170			46			525		505
Net income	$	1,092		$	967		$	4,216	$	4,001
Earnings per share
Basic	$	0.26		$	0.23		$	1.01	$	0.95
Diluted	$	0.26		$	0.23		$	1.01	$	0.95
Cash dividends declared per share	$	0.22		$	0.22		$	0.88	$	0.88
Weighted average basic shares outstanding		4,189,395			4,196,471			4,192,761		4,210,336
Weighted average diluted shares outstanding		4,190,306			4,196,603			4,193,129		4,211,078