Mifflintown, PA, July 22, 2026 (ZM NEWSWIRE) — Juniata Valley Financial Corp. (OTCQX:JUVF) (“Juniata”), announced net income for the three months ended June 30, 2026 of $2.5 million, an increase of 32.0% compared to net income of $1.9 million for the three months ended June 30, 2025. Earnings per share, basic and diluted, increased 31.6%, to $0.50, for the three months ended June 30, 2026, compared to $0.38 for the three months ended June 30, 2025. Net income was $5.3 million for the six months ended June 30, 2026, an increase of 35.7% compared to net income of $3.9 million for the six months ended June 30, 2025. Earnings per share, basic and diluted, were $1.06 and $1.05, respectively, for the six months ended June 30, 2026, compared to earnings per share, both basic and diluted, of $0.78 for the six months ended June 30, 2025.
President’s Message
President and Chief Executive Officer, Marcie A. Barber stated, “We continued to build on the momentum of the first quarter and are pleased to announce second quarter net income of $2.5 million, which represents a nearly 32% increase over the same quarter last year. We believe that this improvement was due, in large part, to our ability to provide responsive, customer-centered solutions coupled with disciplined loan and deposit pricing. This approach resulted in a $1.2 million increase in net interest income, reflecting a 41 basis point improvement in our net interest margin. Year-to-date net income of $5.3 million represents a 36% increase compared to the first half of last year, reflecting in part, a 49 basis point improvement for the six month period in our net interest margin. Our credit quality remains strong, with nonperforming loans plus delinquent loans totaling 0.2% of the total loan portfolio. Our focus for the second half of 2026 is to accelerate loan growth, especially in the State College and Harrisburg regions, while maintaining credit quality and continuing to focus on fee generation and operating expense discipline. We opened our Belleville office on July 6, 2026 and are excited about the opportunity to serve the financial needs of the Big Valley region of Mifflin County.”
Financial Results Year-to-Date
Annualized return on average assets for the six months ended June 30, 2026 was 1.18%, an increase of 28.3%, compared to the annualized return on average assets of 0.92% for the six months ended June 30, 2025. Annualized return on average equity for the six months ended June 30, 2026 was 17.75%, an increase of 12.6%, compared to the annualized return on average equity of 15.76% for the six months ended June 30, 2025.
Net interest income increased by 22.7%, to $14.7 million for the six months ended June 30, 2026 compared to $12.0 million for the six months ended June 30, 2025. Average earning assets increased $42.1 million, or 5.0%, to $888.4 million for the six months ended June 30, 2026 compared to the same period in 2025. This increase was due to an increase of $69.3 million, or 12.8%, in average loans, which was partially offset by a decrease of $27.9 million, or 9.4%, in average investment securities as principal paydowns on the mortgage-backed securities portfolio, as well as proceeds from maturities and called securities, were used to fund loan growth rather than being reinvested into the securities portfolio. Average interest bearing liabilities increased by $25.8 million, or 4.3%, for the six months ended June 30, 2026 compared to the six months ended June 30, 2025, with the largest increase being in average interest bearing demand deposits, which increased $14.3 million, or 6.9%.
The yield on earning assets increased 37 basis points, to 4.83%, for the six months ended June 30, 2026 compared to same period last year, driven by an increase in loan yields of 26 basis points, while the cost to fund interest earning assets with interest bearing liabilities decreased 15 basis points, to 2.09%. The net interest margin, on a fully tax equivalent basis, increased from 2.89% for the six months ended June 30, 2025 to 3.38% for the six months ended June 30, 2026.
Juniata recorded a provision for credit losses of $556,000 in the six months ended June 30, 2026 compared to a provision for credit losses of $453,000 in the six months ended June 30, 2025. The increase in the provision for credit losses between six month periods was due to continued loan growth.
Non-interest income was $2.8 million for both the six months ended June 30, 2026 and June 30, 2025. Most significantly impacting the comparative six month periods was an increase of $266,000 in the change in value of equity securities in the 2026 period, which was partially offset by a $209,000 loss on the sales and calls of securities due to a portfolio yield restructuring plan undertaken in the second quarter of 2026. Also impacting the comparative six month periods was an increase of $89,000 in fees derived from loan activity, which was offset by decreases of $58,000 in customer service fees and $70,000 in commissions from sales of non-deposit products due to the transition to a new wealth management business model in the second quarter of 2025.
Non-interest expense was $10.6 million for the six months ended June 30, 2026 compared to $9.8 million for the six months ended June 30, 2025, an increase of 9.1%. Most significantly impacting non-interest expense in the comparative six month periods were increases in employee compensation and benefits expenses of $445,000 and $387,000, respectively.
An income tax provision of $1.0 million was recorded for the six months ended June 30, 2026 compared to an income tax provision of $700,000 recorded for the six months ended June 30, 2025, due primarily to the increase in taxable income in the 2026 period.
Financial Results for the Quarter
Annualized return on average assets for the three months ended June 30, 2026 was 1.11%, an increase of 24.7%, compared to 0.89% for the three months ended June 30, 2025. Annualized return on average equity for the three months ended June 30, 2026 was 16.51%, an increase of 10.0%, compared to 15.01% for the three months ended June 30, 2025.
Net interest income increased by 20.0%, to $7.4 million, for the three months ended June 30, 2026 compared to $6.2 million for the three months ended June 30, 2025. Average interest earning assets increased 5.2%, to $894.1 million, for the three months ended June 30, 2026 compared to the same period in 2025, due to an increase of $72.8 million, or 13.3%, in average loans, which was partially offset by a decrease of $29.3 million, or 9.9%, in average investment securities. Average interest bearing liabilities increased by $27.4 million, or 4.5%, for the three months ended June 30, 2026 compared to the three months ended June 30, 2025, with interest bearing demand deposits, increasing $13.5 million, or 6.3%.
The yield on earning assets increased 30 basis points, to 4.80%, for the three months ended June 30, 2026 compared to same period last year, driven by an increase in loan yields of 13 basis points, while the cost to fund interest earning assets with interest bearing liabilities decreased 14 basis points, to 2.07%. The net interest margin, on a fully tax equivalent basis, increased from 2.95% for the three months ended June 30, 2025 to 3.36% for the three months ended June 30, 2026.
Juniata recorded a provision for credit losses of $376,000 for the three months ended June 30, 2026 compared to a provision for credit losses of $349,000 for the three months ended June 30, 2025.
Non-interest income was $1.4 million for the three months ended June 30, 2026 compared to $1.5 million for the three months ended June 30, 2025, a decrease of 5.8%. Most significantly impacting non-interest income in the comparative three month periods was a $209,000 loss on the sales and calls of securities due to a portfolio yield restructuring plan undertaken in the second quarter, which was partially offset by an increase of $180,000 in the change in value of equity securities.
Non-interest expense was $5.4 million for the three months ended June 30, 2026 compared to $5.1 million for the three months ended June 30, 2025, an increase of 7.1%. Most significantly impacting non-interest expense in the comparative three month periods were increases in employee compensation and benefits expenses of $176,000 and $192,000, respectively. Also impacting the comparative three month periods was an increase of $54,000 in occupancy expense due to increased maintenance expense, which was offset by a decrease of $82,000 in other non-interest expenses, primarily due to recording a $62,000 credit to the provision for unfunded commitments.
An income tax provision of $478,000 was recorded for the three months ended June 30, 2026 compared to an income tax provision of $329,000 recorded for the three months ended June 30, 2025, primarily due to the increase in taxable income in the 2026 period.
Financial Condition
Total assets as of June 30, 2026 were $918.9 million, an increase of $23.7 million, or 2.6%, compared to total assets of $895.3 million at December 31, 2025. Cash and cash equivalents increased by $2.6 million, or 22.3%, as of June 30, 2026 compared to December 31, 2025, while total debt securities decreased by $13.6 million, or 5.7%, over the same period as principal paydowns on the mortgage-backed securities portfolio, as well as proceeds from maturities and called securities, were used to fund loan growth rather than being reinvested into the securities portfolio. Total loans increased by $34.9 million, or 5.8%, as of June 30, 2026 compared to year-end 2025 primarily due to an increase in commercial real estate loans. Total deposits increased by $23.9 million, or 3.1%, as of June 30, 2026 compared to December 31, 2025 mainly due to an increase in interest bearing demand and time deposits. Short-term borrowings and repurchase agreements decreased by $6.1 million, or 12.2%, as of June 30, 2026 compared to year-end 2025 primarily due to a decrease in repurchase agreement balances resulting from fluctuations in customers’ accounts.
Juniata maintained a strong liquidity position as of June 30, 2026, with additional borrowing capacity with the Federal Home Loan Bank of Pittsburgh of $232.0 million and $41.9 million in additional borrowing capacity from the Federal Reserve’s Discount Window. In addition, Juniata has internal authorization for brokered deposits of up to $120.9 million. Juniata had no brokered deposits outstanding as of June 30, 2026.
Subsequent Event
On July 21, 2026, the Board of Directors declared a cash dividend of $0.22 per share to shareholders of record on August 18, 2026, payable on September 1, 2026.
Management had considered subsequent events occurring after the statement of condition date through the date of this release for matters which may require adjustment to, or disclosure in, the consolidated financial statements. Management’s subsequent-events review will continue through the filing date of the consolidated financial statements, which will be filed subsequent to the date of this release. Accordingly, the financial information in this release is subject to change.
The Juniata Valley Bank, the principal subsidiary of Juniata Valley Financial Corp., is headquartered in Mifflintown, Pennsylvania, with fifteen community offices located in Juniata, Mifflin, Perry, Franklin, McKean and Potter Counties. More information regarding Juniata Valley Financial Corp. and The Juniata Valley Bank can be found online at www.jvb.bank. Juniata Valley Financial Corp. trades through the OTCQX Best Market under the symbol JUVF.
Forward-Looking Information
*This press release may contain “forward looking” information as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect the current views of Juniata’s management with respect to, among other things, future events and Juniata’s financial performance. When words such as “may,” “should,” “could,” “predict,” “potential,” “believe,” “likely,” “expect,” “continue,” “will,” “anticipate,” “seek,” “estimate,” “intend,” “plan,” “project,” “forecast,” “goal,” “target,” “would,” “outlook,” the negative variations of those words or similar expressions are used in this release, Juniata is making forward-looking statements. Such information is based on Juniata’s current expectations, estimates and projections about future events and financial trends affecting the financial condition of its business, many of which, by their nature, are inherently uncertain and beyond the control of Juniata. These statements are not historical facts or guarantees of future performance, events or results and are subject to risks, assumptions and uncertainties that are difficult to predict. If one or more events related to these or other risks or uncertainties materialize, or if underlying assumptions prove to be incorrect, actual results may differ materially from this forward-looking information. Accordingly, you should not place undue reliance on any such forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made, and many factors could affect future financial results. Juniata undertakes no obligation to publicly update or revise forward looking information, whether because of new or updated information, future events, or otherwise. For a more complete discussion of certain risks and uncertainties affecting Juniata, please see the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations – Forward-Looking Statements” set forth in the Juniata’s filings with the Securities and Exchange Commission.
Financial Statements
Juniata Valley Financial Corp. and Subsidiary
Consolidated Statements of Financial Condition
| (Dollars in thousands, except share data) | (Unaudited) | |||||||
| June 30, 2026 | December 31, 2025 | |||||||
| ASSETS | ||||||||
| Cash and due from banks | $ | 5,750 | $ | 5,719 | ||||
| Interest bearing deposits with banks | 8,256 | 5,729 | ||||||
| Cash and cash equivalents | 14,006 | 11,448 | ||||||
| Equity securities | 1,551 | 1,273 | ||||||
| Debt securities available for sale | 46,455 | 55,600 | ||||||
| Debt securities held to maturity (fair value $172,623 and $179,984, respectively) | 177,707 | 182,205 | ||||||
| Restricted investment in bank stock | 2,560 | 2,522 | ||||||
| Total loans | 636,234 | 601,378 | ||||||
| Less: Allowance for credit losses | (7,629 | ) | (7,083 | ) | ||||
| Total loans, net of allowance for credit losses | 628,605 | 594,295 | ||||||
| Premises and equipment, net | 9,551 | 9,256 | ||||||
| Bank owned life insurance and annuities | 16,087 | 15,947 | ||||||
| Investment in low-income housing partnerships | 349 | 510 | ||||||
| Core deposit and other intangible assets | 163 | 190 | ||||||
| Goodwill | 9,812 | 9,812 | ||||||
| Deferred tax asset, net | 7,471 | 8,198 | ||||||
| Accrued interest receivable and other assets | 4,596 | 4,007 | ||||||
| Total assets | $ | 918,913 | $ | 895,263 | ||||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||||
| Liabilities: | ||||||||
| Deposits: | ||||||||
| Non-interest bearing | $ | 210,448 | $ | 209,865 | ||||
| Interest bearing | 595,272 | 571,934 | ||||||
| Total deposits | 805,720 | 781,799 | ||||||
| Short-term borrowings and repurchase agreements | 43,822 | 49,906 | ||||||
| Other interest bearing liabilities | 660 | 720 | ||||||
| Accrued interest payable and other liabilities | 6,038 | 5,465 | ||||||
| Total liabilities | 856,240 | 837,890 | ||||||
| Commitments and contingent liabilities | ||||||||
| 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 – 5,151,279 shares at June 30, 2026 and December 31, 2025; Outstanding – 5,034,291 shares at June 30, 2026 and 5,018,799 shares at December 31, 2025 | 5,151 | 5,151 | ||||||
| Surplus | 24,659 | 24,820 | ||||||
| Retained earnings | 59,804 | 56,696 | ||||||
| Accumulated other comprehensive loss | (25,054 | ) | (27,154 | ) | ||||
| Cost of common stock in Treasury: 116,988 shares at June 30, 2026; 132,480 shares at December 31, 2025 | (1,887 | ) | (2,140 | ) | ||||
| Total stockholders’ equity | 62,673 | 57,373 | ||||||
| Total liabilities and stockholders’ equity | $ | 918,913 | $ | 895,263 | ||||
Juniata Valley Financial Corp. and Subsidiary
Consolidated Statements of Income (Unaudited)
| Three Months Ended | Six Months Ended | |||||||||||||
| (Dollars in thousands, except share and per share data) | June 30, | June 30, | ||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||
| Interest income: | ||||||||||||||
| Loans, including fees | $ | 9,396 | $ | 8,112 | $ | 18,706 | $ | 15,893 | ||||||
| Taxable securities | 1,259 | 1,372 | 2,480 | 2,737 | ||||||||||
| Tax-exempt securities | 18 | 30 | 48 | 60 | ||||||||||
| Other interest income | 20 | 20 | 40 | 37 | ||||||||||
| Total interest income | 10,693 | 9,534 | 21,274 | 18,727 | ||||||||||
| Interest expense: | ||||||||||||||
| Deposits | 2,839 | 2,889 | 5,597 | 5,692 | ||||||||||
| Short-term borrowings and repurchase agreements | 439 | 440 | 947 | 971 | ||||||||||
| Long-term debt | — | 21 | — | 51 | ||||||||||
| Other interest bearing liabilities | 5 | 7 | 11 | 14 | ||||||||||
| Total interest expense | 3,283 | 3,357 | 6,555 | 6,728 | ||||||||||
| Net interest income | 7,410 | 6,177 | 14,719 | 11,999 | ||||||||||
| Provision for credit losses | 376 | 349 | 556 | 453 | ||||||||||
| Net interest income after provision for credit losses | 7,034 | 5,828 | 14,163 | 11,546 | ||||||||||
| Non-interest income: | ||||||||||||||
| Customer service fees | 433 | 466 | 868 | 926 | ||||||||||
| Debit card fee income | 470 | 450 | 900 | 872 | ||||||||||
| Earnings on bank-owned life insurance and annuities | 71 | 62 | 140 | 119 | ||||||||||
| Trust fees | 113 | 112 | 239 | 243 | ||||||||||
| Commissions from sales of non-deposit products | 50 | 69 | 100 | 170 | ||||||||||
| Fees derived from loan activity | 167 | 158 | 362 | 273 | ||||||||||
| Loss on sales and calls of securities | (209 | ) | — | (209 | ) | — | ||||||||
| Change in value of equity securities | 220 | 40 | 278 | 12 | ||||||||||
| Gain from life insurance proceeds | — | 20 | — | 20 | ||||||||||
| Other non-interest income | 77 | 100 | 156 | 188 | ||||||||||
| Total non-interest income | 1,392 | 1,477 | 2,834 | 2,823 | ||||||||||
| Non-interest expense: | ||||||||||||||
| Employee compensation expense | 2,274 | 2,098 | 4,518 | 4,073 | ||||||||||
| Employee benefits | 694 | 502 | 1,435 | 1,048 | ||||||||||
| Occupancy | 355 | 301 | 681 | 667 | ||||||||||
| Equipment | 253 | 243 | 505 | 460 | ||||||||||
| Data processing expense | 761 | 778 | 1,415 | 1,407 | ||||||||||
| Professional fees | 256 | 247 | 492 | 453 | ||||||||||
| Taxes, other than income | 100 | 95 | 118 | 126 | ||||||||||
| FDIC Insurance premiums | 137 | 119 | 266 | 254 | ||||||||||
| Amortization of intangible assets | 13 | 17 | 27 | 35 | ||||||||||
| Amortization of investment in low-income housing partnerships | 80 | 80 | 161 | 161 | ||||||||||
| Other non-interest expense | 503 | 585 | 1,019 | 1,066 | ||||||||||
| Total non-interest expense | 5,426 | 5,065 | 10,637 | 9,750 | ||||||||||
| Income before income taxes | 3,000 | 2,240 | 6,360 | 4,619 | ||||||||||
| Income tax provision | 478 | 329 | 1,041 | 700 | ||||||||||
| Net income | $ | 2,522 | $ | 1,911 | $ | 5,319 | $ | 3,919 | ||||||
| Earnings per share | ||||||||||||||
| Basic | $ | 0.50 | $ | 0.38 | $ | 1.06 | $ | 0.78 | ||||||
| Diluted | $ | 0.50 | $ | 0.38 | $ | 1.05 | $ | 0.78 | ||||||
