MIFFLINTOWN — Juniata Valley Financial Corp. had a “solid performance in 2007,” President and CEO Francis J. Evanitsky said during the company’s recent annual shareholders meeting.
Evanitsky opened the meeting discussing the strength and tradition of the Juniata Valley Financial Corp. He reviewed the financial results for 2007 and discussed the receipt of the “Program of the Year Award” by the Alternative Investment group, from Bar Financial Network.
Other topics of discussion included the growth of the Trust Department’s assets under management, the historical dividend activity, the change in the yield curve and the total return stock performance over the past six years in comparison with local peers as well as with all NASDAQ Banks.
Evanitsky also discussed the recent retirements of Harold Shearer and John Renninger from the board of directors, and thanked them for their years of service and dedication to the organization.
Additional achievements in 2007 included a 4.7 percent increase in average deposits; the first full-year return on the First National Bank of Liverpool equity investment; a complete redesign of the company’s Web site; the introduction of an enhanced online bill paying product; a partnership with First National Bank of Liverpool to provide their customers free access to Juniata Valley Bank ATMs; and full implementation of Fed Forward and Fed Receipt.
Senior Vice President and Chief Financial Officer JoAnn McMinn discussed two peer group comparisons. One peer group included community banks within JVB’s local market, and the other peer group comparison included similarly sized banks in Pennsylvania.
McMinn reviewed the first quarter results for 2008 and provided a comparison of first quarter 2008 versus first quarter 2007. McMinn also said that the foundation is set and the balance sheet is in position to build on 2007’s results.
Senior Vice President and Chief Operations Officer Marcie Barber presented topics relating to “Building from the Foundation”. These topics included building investments from employees, building value for shareholders, building on the community, and building on service.
Barber also discussed the more personalized approach to marketing, emphasizing the approachability, professionalism and community oriented values of the employees.
Evanitsky reviewed the short and long term plans for the organization. The objectives of the bank are to build long term shareholder value through profitable growth, the stock repurchase program and dividends, he said.
He concluded the presentation by discussing the 2008 Strategic Objectives, which are: to pursue growth through acquisition and internal expansion, upgrade wide area network circuits, roll out remote deposit capture product to business customers, full implementation of branch capture and expand lending presence in the State College Market.
At the bank’s annual reorganization meeting, Martin L. Dreibelbis was elected chairman of the board and Philip E. Gingerich Jr. was elected vice chairman.
The following executive officers were appointed by the chairman: Marcie A. Barber, SVP/COO; Francis J. Evanitsky, President & CEO, and JoAnn N. McMinn, SVP/CFO.
The following regulation officers were appointed by the chairman: Marcie A. Barber, SVP/COO; William L. Barnett, SVP/Trust & Investment Management Division Manager; Pamela S. Eberman, SVP/Human Resources Manager; Francis J. Evanitsky, President & CEO; Steven T. Kramm, SVP/Operations Technology Division Manager; JoAnn N. McMinn, SVP/CFO; and Lou Ann Wilson, VP Compliance Officer.
The following officers were appointed by the chairman: Suzanne E. Booher, Facilities/Security Officer; Kristi J. Burdge, Accounting Manager; James C. Dillman, VP/Trust Officer; Robert G. Dillon, VP/Sr. Loan Officer/Collections Manager; M. Randall French, VP/Sr. Loan Officer; S. Marlene Hubler, Computer Operations/Proof Manager; Kathy D. Hutchinson, VP/Operations/Technology Manager; Kurt L. McKinney, Jr., VP/Sr. Loan Officer; R. Jack Morgan, VP/Loan Officer I; Scott E. Nace, VP/Consumer Loan Manager; David A. Pecht, VP/Secondary Mortgage Market Manager; Sherise Pelizzari, Assistant VP/Deposit Compliance Officer; J. Neal Shawver, VP/Loan Officer II; Deborah A. Sheaffer, VP/Deposit Operations and Money Desk Manager; Cynthia L. Williams, VP/Trust Officer/Trust Operations Manager; Kelly L. Yetter, Electronic and Business Banking Manager, and Penny L. Zesiger, Loan Officer II.
The following vice presidents/community office managers were appointed: Brenda A. Brubaker, Christine L. Burlew, Larry B. Cottrill Jr., Leann M. Fisher, Lee Ellen Foose, Wayne S. McCoy, Leslie A. Miller, Betty S. Ryan, Barbara I. Seaman, Catherine J. Searer and James A. Witmer.
Jeanette K. Towsey was appointed as community office manager.
The following customer service officers were appointed: Lisa M. Freet, Stacey K. McMurtrie, Kelly M. Neimond; Christine L. Searer and Denise M. Rothrock. Derrick L. Goss, Winston L. Libby, Malcolm R. Parks and Shawn A. Wilson serve as financial services officers.
Advisory board members appointed were: Robert G. Allison, George W. Anderson, Mark D. Apple, Kim E. Bomberger, Brenda A. Brubaker, R. Franklin Campbell, Larry B. Cottrill, Jr., H. Richard Dimm, Steven E. Ehrenzeller, Mark S. Elsesser, David B. Esh, Daniel B. Firth, Leann M. Fisher, Lee Ellen Foose, Lowell R. Frantz, CLU, Gregory J. Gordon, William R. Goshorn, H. Ross Harshbarger, Donald R. Hartzler, Sharon Havice, Robert D. Hower, Carl F. Jaymes, Richard J. Junk, N. Jeffrey Leonard, Dennis A. Long, Gerald M. Lyter, Susan M. McCartney, Wayne S. McCoy, Leslie A. Miller, Nancy S. Reinke, Barbara I. Seaman, Richard J. Sankey, Catherine J. Searer, David E. Walker, James A. Witmer, Gary G. Wright, and Frank A. Zampelli.
The Juniata Valley Bank was chartered in 1867 and has twelve offices serving Juniata, Mifflin, Perry and Huntingdon Counties. More information regarding The Juniata Valley Bank can be found online at http://www.jvbonline.com.'>www.jvbonline.com.