Juniata Valley Financial Corp. (Parent Company Only) (Tables)

12 Months Ended

Dec. 31, 2013


CONDENSED BALANCE SHEETS
(in thousands)
	December 31,
		2013		2012
ASSETS:
Cash and cash equivalents	$	365	$	231
Investment in bank subsidiary		44,589		45,285
Investment in unconsolidated subsidiary		4,172		4,000
Investment securities available for sale		1,127		954
Other assets		56		15
TOTAL ASSETS	$	50,309	$	50,485

LIABILITIES:
Accounts payable and other liabilities	$	325	$	188

STOCKHOLDERS' EQUITY		49,984		50,297
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$	50,309	$	50,485


CONDENSED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME
(in thousands)
		Years Ended December 31,
		2013		2012		2011
INCOME:
Interest and dividends on investment securities available for sale	$	28	$	41	$	44
Dividends from bank subsidiary		4,290		2,793		4,217
Income from unconsolidated subsidiary		237		249		263
TOTAL INCOME		4,555		3,083		4,524
EXPENSE:
Non-interest expense		140		80		140
TOTAL EXPENSE		140		80		140
INCOME BEFORE INCOME TAXES AND EQUITY
IN UNDISTRIBUTED NET (LOSS) INCOME OF SUBSIDIARY		4,415		3,003		4,384
Income tax expense		23		47		36
		4,392		2,956		4,348
Undistributed net (loss) income of subsidiary		(391)		692		332
NET INCOME	$	4,001	$	3,648	$	4,680
COMPREHENSIVE INCOME	$	3,761	$	4,485	$	3,889


CONDENSED STATEMENTS OF CASH FLOWS
(in thousands)
	Years Ended December 31,
		2013		2012		2011
Cash flows from operating activities:
Net income	$	4,001	$	3,648	$	4,680
Adjustments to reconcile net income to net cash provided by operating activities:
Undistributed net loss (income) of subsidiary		391		(692)		(332)
Net amortization of securities premiums		-		2		2
Equity in earnings of unconsolidated subsidiary, net of dividends of $47, $45 and $29		(190)		(204)		(234)
(Increase) decrease in other assets		(42)		12		2
Increase in taxes payable		87		127		68
(Decrease) increase in accounts payable and other liabilities		(7)		(2)		19
Net cash provided by operating activities		4,240		2,891		4,205

Cash flows from investing activities:
Purchases of available for sale securities		(252)		-		(50)
Proceeds from the maturity of available for sale investment securities		250		1,235		-
Net cash (used in) provided by investing activities		(2)		1,235		(50)

Cash flows from financing activities:
Cash dividends		(3,707)		(3,724)		(3,648)
Purchase of treasury stock		(445)		(360)		(589)
Treasury stock issued for dividend reinvestment and employee stock purchase plan		48		151		66
Net cash used in financing activities		(4,104)		(3,933)		(4,171)

Net increase (decrease) in cash and cash equivalents		134		193		(16)
Cash and cash equivalents at beginning of year		231		38		54
Cash and cash equivalents at end of year	$	365	$	231	$	38