From staff reports
MIFFLINTOWN - Juniata Valley Financial Corp.'s net income and earnings per share for 2011 were $4,680,000 and $1.10, respectively.
These earnings compared to $4,915,000 and $1.14, respectively, for 2010. Total assets increased by 2.7 percent to $447.4 million, from Dec. 31, 2010 to Dec. 31, 2011, according to a press release by Juniata Valley Financial Corp.
"Although the 2011 performance represented a modest decline in earning in comparison to 2010, we are pleased to maintain healthy performance ratios and are optimistic about our market position for 2012," Marie A. Barber, president and CEO of Juniata Valley Financial Corp., said in the release.
Net income of $1,136,000 for the fourth quarter of 2011 represented a 6.4 percent decrease in comparison to net income for the third quarter of 2011. Earnings per share decreased by 6.9 percent in the fourth quarter of 2011 as compared to the previous calendar quarter. Net interest income in the most recent quarter was $113,000 higher than in the previous quarter, according to the release.
Non-interest income in the fourth quarter of 2011 decreased by $61,000, or 6 percent, compared to non-interest income in the previous quarter. Non-interest expense was $135,000 higher in the fourth quarter of 2011 compared to the third quarter of 2011. As compared to the same quarter one year ago, net income in the fourth quarter of 2011 decreased 12.9 percent, the release states.
On Jan. 17, 2012, Juniata Valley Financial Corp.'s Board of Directors declared a cash dividend of 22 cents per share for the first quarter of 2012, payable on March 1 to shareholders of record on Feb. 15, according to the release.
The Juniata Valley Bank, the principal subsidiary of Juniata Valley Financial Corp., is headquartered in Mifflintown, with 12 community offices in Juniata, Mifflin, Perry and Huntingdon counties. Juniata Valley Financial Corp. trades over the counter under the symbol JUVF.OB. For more information visit www.JVBonline.com.