Juniata Valley Financial Q1 net income down 18.1% to $1.7M; net interest margin compressed

JUNIATA VALLEY FINANCIAL CORP

2023-Q1 EPS reported $0.35

EPS $0.35 vs $0.42 a year ago; net interest margin fell from 3.17% to 2.85%.
Credit loss expense surged to $243k (CECL adoption) vs $28k prior year.
Branch acquisition of Orrstown Bank's Path Valley branch expected to close May 12, 2023.
Board declared $0.22/share dividend payable June 1 to holders of record May 17.
No brokered deposits at quarter end; increased brokered deposit limit to $175M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

JUNIATA VALLEY FINANCIAL CORP reported three months ended March 31, 2023 results: net income $1.7 million, EPS $0.35.

Period: three months ended March 31, 2023
Net income: $1.7 million
EPS: $0.35
Result: reported results

Exact text from the filing

Juniata Valley Financial Corp. (OTCQX:JUVF) (“Juniata”), announced net income for the three months ended March 31, 2023 of $1.7 million, a decrease of 18.1%, compared to net income of $2.1 million for the three months ended March 31, 2022. Earnings per share, basic and diluted, for the three months ended March 31, 2023 was $0.35 compared to $0.42 reported for the three months ended March 31, 2022.

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JUNIATA VALLEY FINANCIAL CORP filing history →

Source: SEC EDGAR

accession 0001558370-23-006582

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