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Juniata Valley Financial Corp. (JUVF) has filed its annual report for the fiscal year ended December 31, 2024. The report is available for review filing.
The company reported net income of $6.2 million for 2024, a decrease of 5.6% compared to $6.6 million in 2023. Earnings per share on a fully diluted basis were $1.24, down from $1.31 in the previous year.
The net interest margin for 2024 was 2.71%, slightly down from 2.74% in 2023. The yield on earning assets increased by 39 basis points to 4.35%, while the cost of funds increased by 56 basis points to 2.31%.
Juniata recorded a provision for credit losses of $534,000 in 2024, compared to $500,000 in 2023. The allowance for credit losses was 1.16% of total loans at the end of 2024.
Non-interest income increased by 9.5% to $5.8 million in 2024. This increase was primarily due to higher customer service fees and commissions from sales of non-deposit products.
Non-interest expense rose by 5.3% to $21.0 million in 2024, driven by increases in employee compensation, professional fees, and equipment expenses.
The company’s total assets decreased to $848.9 million at the end of 2024 from $870.6 million at the end of 2023. Total deposits decreased slightly to $748.0 million from $749.0 million.
Juniata's investment portfolio was valued at $265.9 million at the end of 2024, down from $282.7 million at the end of 2023. The decrease was due to sales and maturities of securities.
The company maintained a well-capitalized status with a total stockholders’ equity of $47.5 million at the end of 2024, up from $40.1 million at the end of 2023.
Juniata Valley Financial Corp. continues to focus on providing comprehensive banking services in central and northern Pennsylvania through its subsidiary, The Juniata Valley Bank.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Juniata Valley Financial Corp. annual 10-K report dated March 26, 2025. To report an error, please email earnings@qz.com.