Auburn National Bancorporation, Inc. Reports Second Quarter Net Earnings
Auburn National Bancorporation (Nasdaq: AUBN) reported strong Q2 2025 financial results with net earnings of $1.8 million, or $0.52 per share, an 18% increase from Q1 2025. The bank demonstrated improved performance with net interest income rising 4% quarter-over-quarter and net interest margin expanding to 3.27%, up 7 basis points from Q1.
Key highlights include strong credit quality with nonperforming assets at just 0.03% of total assets, and a 3% decrease in noninterest expense compared to Q1. Total assets stood at $1.0 billion with total deposits of $939.9 million. The company maintained strong capital positions with a tangible common equity ratio of 8.36% and paid a quarterly dividend of $0.27 per share.
Auburn National Bancorporation (Nasdaq: AUBN) ha riportato risultati finanziari solidi nel secondo trimestre del 2025 con utili netti di 1,8 milioni di dollari, pari a 0,52 dollari per azione, un aumento del 18% rispetto al primo trimestre del 2025. La banca ha mostrato un miglioramento delle performance con un reddito netto da interessi in crescita del 4% rispetto al trimestre precedente e un margine netto da interessi che si è ampliato al 3,27%, in aumento di 7 punti base rispetto al primo trimestre.
I punti salienti includono un'elevata qualità del credito con attività non performanti pari a soli 0,03% del totale attivi, e una riduzione del 3% delle spese non legate agli interessi rispetto al primo trimestre. Il totale degli attivi ammontava a 1,0 miliardi di dollari con depositi totali di 939,9 milioni di dollari. La società ha mantenuto solide posizioni patrimoniali con un rapporto di capitale tangibile comune dell'8,36% e ha distribuito un dividendo trimestrale di 0,27 dollari per azione.
Auburn National Bancorporation (Nasdaq: AUBN) reportó sólidos resultados financieros en el segundo trimestre de 2025 con ganancias netas de 1,8 millones de dólares, o 0,52 dólares por acción, un aumento del 18% respecto al primer trimestre de 2025. El banco mostró una mejora en su desempeño con un ingreso neto por intereses que creció un 4% trimestre a trimestre y un margen neto por intereses que se expandió a 3,27%, subiendo 7 puntos básicos desde el primer trimestre.
Los puntos clave incluyen una alta calidad crediticia con activos no productivos de solo 0,03% del total de activos, y una disminución del 3% en gastos no relacionados con intereses en comparación con el primer trimestre. Los activos totales alcanzaron 1.000 millones de dólares con depósitos totales de 939,9 millones de dólares. La compañía mantuvo sólidas posiciones de capital con una ratio de capital tangible común del 8,36% y pagó un dividendo trimestral de 0,27 dólares por acción.
Auburn National Bancorporation (나스닥: AUBN)은 2025년 2분기 강력한 재무실적을 보고했으며, 순이익 180만 달러, 주당 0.52달러로 2025년 1분기 대비 18% 증가했습니다. 은행은 분기별로 순이자수익이 4% 증가하고 순이자마진이 3.27%로 1분기 대비 7베이시스포인트 상승하며 개선된 성과를 보였습니다.
주요 내용으로는 총자산 대비 0.03%에 불과한 부실자산 비율과 1분기 대비 3% 감소한 비이자 비용이 포함됩니다. 총자산은 10억 달러, 총 예금은 9억 3,990만 달러였습니다. 회사는 8.36%의 유형 보통주 자본비율을 유지했으며, 주당 0.27달러의 분기 배당금을 지급했습니다.
Auburn National Bancorporation (Nasdaq : AUBN) a annoncé de solides résultats financiers pour le deuxième trimestre 2025 avec un bénéfice net de 1,8 million de dollars, soit 0,52 dollar par action, en hausse de 18 % par rapport au premier trimestre 2025. La banque a affiché une meilleure performance avec un revenu net d’intérêts en hausse de 4 % d’un trimestre à l’autre et une marge nette d’intérêts portée à 3,27 %, en progression de 7 points de base par rapport au premier trimestre.
Parmi les points clés, une qualité de crédit solide avec des actifs non performants représentant seulement 0,03 % du total des actifs, et une diminution de 3 % des charges hors intérêts par rapport au premier trimestre. Le total des actifs s’élevait à 1,0 milliard de dollars avec des dépôts totaux de 939,9 millions de dollars. La société a maintenu des positions de capital solides avec un ratio de fonds propres tangibles de 8,36 % et a versé un dividende trimestriel de 0,27 dollar par action.
Auburn National Bancorporation (Nasdaq: AUBN) meldete starke Finanzergebnisse für das zweite Quartal 2025 mit Nettoeinnahmen von 1,8 Millionen US-Dollar, bzw. 0,52 US-Dollar je Aktie, was einer Steigerung von 18 % gegenüber dem ersten Quartal 2025 entspricht. Die Bank zeigte eine verbesserte Leistung mit einem Nettozinsertrag, der quartalsübergreifend um 4 % stieg, und einer Nettomarge von 3,27%, was einem Anstieg von 7 Basispunkten gegenüber dem ersten Quartal entspricht.
Wesentliche Highlights sind die starke Kreditqualität mit notleidenden Vermögenswerten von nur 0,03 % der Gesamtvermögenswerte sowie ein Rückgang der nicht zinstragenden Aufwendungen um 3 % im Vergleich zum ersten Quartal. Die Gesamtvermögenswerte beliefen sich auf 1,0 Milliarden US-Dollar mit Gesamteinlagen von 939,9 Millionen US-Dollar. Das Unternehmen behielt eine starke Kapitalausstattung mit einer harten Kernkapitalquote von 8,36% bei und zahlte eine quartalsweise Dividende von 0,27 US-Dollar je Aktie aus.
- Net earnings increased 18% to $0.52 per share quarter-over-quarter
- Net interest margin improved to 3.27%, up 7 basis points from Q1 2025
- Strong credit quality with nonperforming assets at only 0.03% of total assets
- Noninterest expense decreased 3% compared to Q1 2025
- No FHLB advances or wholesale funding outstanding, indicating strong liquidity
- Book value per share increased to $24.64, up from $23.79 in Q1 2025
- Loan demand has slowed with total loans decreasing from $578.1M to $562.7M year-over-year
- Total deposits decreased from $946.4M to $939.9M year-over-year
- Noninterest income declined year-over-year from $0.9M to $0.8M
Insights
AUBN shows strong Q2 2025 with 18% EPS growth, improving margins, and exceptional asset quality despite slowing loan demand.
Auburn National Bancorporation delivered impressive Q2 results with
First, the bank's net interest margin expanded to
Second, operational efficiency improved as noninterest expenses decreased
Third, asset quality remains exceptional with nonperforming assets at just
The bank's capital position strengthened with book value per share reaching
The strategic decision to use proceeds from a
Second Quarter 2025 Highlights:
- Earnings per share increased
18% compared to 1Q 2025 - Net interest income increased
4% compared to 1Q 2025 - Net interest margin (tax-equivalent) increased 7 basis points to
3.27% , compared to 1Q 2025 - Noninterest expense decreased
3% compared to 1Q 2025 - Strong credit quality – Nonperforming assets to total assets were
0.03%
AUBURN, Ala., July 22, 2025 (GLOBE NEWSWIRE) -- Auburn National Bancorporation, Inc. (Nasdaq: AUBN) reported net earnings of
“Our second quarter results reflect strong credit quality and continued improvement in our net interest margin,” said David A. Hedges, President and CEO. “While loan demand has slowed, we remain optimistic that our net interest margin will continue to improve as loans and securities re-price. Once again, our capital and liquidity remain strong and we are well positioned to meet the needs of our customers,” continued Mr. Hedges.
Net interest income (tax-equivalent) was
Net interest margin (tax-equivalent) was
Nonperforming assets were
The Company recorded a charge to provision for credit losses of
At June 30, 2025, the Company’s allowance for credit losses was
Noninterest income was
Noninterest expense was
The provision for income tax expense was
The effective tax rate for the second quarter of 2025 was
Total assets were
At June 30, 2025, the Company's consolidated stockholders' equity (book value) was
The Company’s tangible common equity (“TCE”) ratio or total equity to total assets ratio was
The Company paid cash dividends of
About Auburn National Bancorporation, Inc.
Auburn National Bancorporation, Inc. (the “Company”) is the parent company of AuburnBank (the “Bank”), with total assets of approximately
Cautionary Notice Regarding Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934. All statements with respect to our objectives, expectations, anticipations, estimates and intentions and all statements other than statements of historical fact are forward-looking statements. You can identify these forward-looking statements through our use of words such as “may,” “will,” “anticipate,” “assume,” “should,” “indicate,” “would,” “believe,” “contemplate,” “expect,” “estimate,” “continue,” “designed,” “plan,” “point to,” “project,” “could,” “intend,” “target,” “seek” and other similar words and expressions of the future. Forward looking statements, include, without limitation, statements about future financial and operating results, costs and revenues, government policies and changes in policies, including Federal Reserve monetary and regulatory actions. Forward looking statements also include statements about economic conditions generally in our markets and which may affect us, loan demand, mortgage lending activity, changes in the mix of our earning assets (including those generating tax exempt income or tax credits) and our mix and cost of deposits and wholesale liabilities, net interest income and margin, yields on earning assets, the market values and performance of securities held, effects of inflation and employment, including Federal Reserve monetary policies.
Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may be beyond our control, and which may cause the actual results, performance, achievements and/or financial condition of the Company or the Bank to be materially different from future results, performance, achievements or financial condition expressed or implied by such forward-looking statements. Forward looking statements may not be realized due to numerous factors, including, without limitation, changes in employment levels, actual and expected changes in interest rates and interest rate expectations (generally and those applicable to our assets and liabilities) and the shape of the yield curve, and related changes in our asset values, especially investment securities, noninterest income, loan performance, loan deferrals and modifications, nonperforming assets, other real estate owned, provision for credit losses, including possible adjustments to the fair values of securities available for sale, charge-offs, collateral values, credit quality, asset sales, insurance claims, and market trends. You should not expect us to update any forward-looking statements.
All written or oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary notice, together with those described in the “Cautionary Note Regarding Forward-Looking Statements” and the risks and uncertainties described under “Risk Factors” and elsewhere in our annual report on Form 10-K for the year ended December 31, 2024 and otherwise in our other SEC reports and filings.
Explanation of Certain Unaudited Non-GAAP Financial Measures
This press release contains financial information determined by methods other than U.S. generally accepted accounting principles (“GAAP”). The attached financial highlights include certain designated net interest income amounts presented on a tax-equivalent basis, a non-GAAP financial measure, and the presentation and calculation of the efficiency ratio, a non-GAAP measure. Management uses these non-GAAP financial measures in its analysis of the Company’s performance and believes the presentation of net interest income on a tax-equivalent basis provides comparability of net interest income from both taxable and tax-exempt sources and facilitates comparability within the industry. Similarly, the efficiency ratio is a common measure that facilitates comparability with other financial institutions. Although the Company believes these non-GAAP financial measures enhance investors’ understanding of its business and performance, these non-GAAP financial measures should not be considered an alternative to GAAP. Along with the attached financial highlights, the Company provides reconciliations between the GAAP financial measures and these non-GAAP financial measures.
For additional information, contact:
David A. Hedges
President and CEO
(334) 821-9200
Financial Highlights (unaudited) | ||||||||||||||||||||||||||
Quarters Ended | Six months ended | |||||||||||||||||||||||||
(Dollars in thousands, except per share | June 30, | March 31, | June 30, | June 30, | June 30, | |||||||||||||||||||||
amounts) | 2025 | 2025 | 2024 | 2025 | 2024 | |||||||||||||||||||||
Results of Operations | ||||||||||||||||||||||||||
Net interest income (a) | $ | 7,363 | $ | 7,062 | $ | 6,728 | $ | 14,425 | $ | 13,405 | ||||||||||||||||
Less: tax-equivalent adjustment | 19 | 17 | 19 | 36 | 39 | |||||||||||||||||||||
Net interest income (GAAP) | 7,344 | 7,045 | 6,709 | 14,389 | 13,366 | |||||||||||||||||||||
Noninterest income | 789 | 747 | 896 | 1,536 | 1,783 | |||||||||||||||||||||
Total revenue | 8,133 | 7,792 | 7,605 | 15,925 | 15,149 | |||||||||||||||||||||
Provision for credit losses | 113 | (10 | ) | (123 | ) | 103 | 211 | |||||||||||||||||||
Noninterest expense | 5,702 | 5,880 | 5,519 | 11,582 | 11,194 | |||||||||||||||||||||
Income tax expense | 485 | 392 | 475 | 877 | 639 | |||||||||||||||||||||
Net earnings | $ | 1,833 | $ | 1,530 | $ | 1,734 | $ | 3,363 | $ | 3,105 | ||||||||||||||||
Per share data: | ||||||||||||||||||||||||||
Basic and diluted net earnings: | $ | 0.52 | $ | 0.44 | $ | 0.50 | $ | 0.96 | $ | 0.89 | ||||||||||||||||
Cash dividends declared | $ | 0.27 | $ | 0.27 | $ | 0.27 | $ | 0.54 | $ | 0.54 | ||||||||||||||||
Weighted average shares outstanding: | ||||||||||||||||||||||||||
Basic and diluted | 3,493,699 | 3,493,699 | 3,493,699 | 3,493,699 | 3,493,681 | |||||||||||||||||||||
Shares outstanding, at period end | 3,493,699 | 3,493,699 | 3,493,699 | 3,493,699 | 3,493,699 | |||||||||||||||||||||
Book value | $ | 24.64 | $ | 23.79 | $ | 21.53 | $ | 24.64 | $ | 21.53 | ||||||||||||||||
Common stock price: | ||||||||||||||||||||||||||
High | $ | 25.98 | $ | 23.37 | $ | 19.25 | $ | 25.28 | $ | 21.55 | ||||||||||||||||
Low | 19.48 | 20.36 | 16.63 | 19.48 | 16.63 | |||||||||||||||||||||
Period-end: | 25.00 | 21.59 | 18.29 | 25.00 | 18.29 | |||||||||||||||||||||
To earnings ratio (c) | 13.09 | x | 11.42 | x | 101.61 | x | 13.09 | x | 101.61 | x | ||||||||||||||||
To book value | 101 | % | 91 | % | 85 | % | 101 | % | 85 | % | ||||||||||||||||
Performance ratios: | ||||||||||||||||||||||||||
Return on average equity (annualized) | 9.00 | % | 7.83 | % | 9.63 | % | 8.26 | % | 8.34 | % | ||||||||||||||||
Return on average assets (annualized) | 0.74 | % | 0.62 | % | 0.71 | % | 0.68 | % | 0.64 | % | ||||||||||||||||
Dividend payout ratio | 51.92 | % | 61.36 | % | 54.00 | % | 56.25 | % | 60.67 | % | ||||||||||||||||
Other financial data: | ||||||||||||||||||||||||||
Net interest margin (a) | 3.27 | % | 3.20 | % | 3.06 | % | 3.24 | % | 3.05 | % | ||||||||||||||||
Effective income tax rate | 20.92 | % | 20.40 | % | 21.50 | % | 20.68 | % | 17.07 | % | ||||||||||||||||
Efficiency ratio (b) | 69.95 | % | 75.30 | % | 72.39 | % | 72.56 | % | 73.70 | % | ||||||||||||||||
Asset Quality: | ||||||||||||||||||||||||||
Nonperforming assets: | ||||||||||||||||||||||||||
Nonperforming (nonaccrual) loans | $ | 302 | $ | 520 | $ | 794 | $ | 302 | $ | 794 | ||||||||||||||||
Total nonperforming assets | $ | 302 | $ | 520 | $ | 794 | $ | 302 | $ | 794 | ||||||||||||||||
Net (recoveries) charge-offs | $ | (48 | ) | $ | 64 | $ | 9 | $ | 16 | $ | (58 | ) | ||||||||||||||
Allowance for credit losses as a % of: | ||||||||||||||||||||||||||
Loans | 1.24 | % | 1.20 | % | 1.24 | % | 1.24 | % | 1.24 | % | ||||||||||||||||
Nonperforming loans | 2,306 | % | 1,298 | % | 899 | % | 2,306 | % | 899 | % | ||||||||||||||||
Nonperforming assets as a % of: | ||||||||||||||||||||||||||
Loans and other real estate owned | 0.05 | % | 0.09 | % | 0.14 | % | 0.05 | % | 0.14 | % | ||||||||||||||||
Total assets | 0.03 | % | 0.05 | % | 0.08 | % | 0.03 | % | 0.08 | % | ||||||||||||||||
Nonperforming loans | ||||||||||||||||||||||||||
as a % of total loans | 0.05 | % | 0.09 | % | 0.14 | % | 0.05 | % | 0.14 | % | ||||||||||||||||
Annualized net (recoveries) charge-offs | ||||||||||||||||||||||||||
as a % of average loans | (0.03 | ) | % | 0.05 | % | 0.01 | % | 0.01 | % | (0.02 | ) | % | ||||||||||||||
Selected average balances: | ||||||||||||||||||||||||||
Securities | $ | 240,177 | $ | 240,588 | $ | 258,228 | $ | 240,381 | $ | 262,917 | ||||||||||||||||
Loans, net of unearned income | 559,770 | 566,082 | 573,443 | 562,909 | 567,100 | |||||||||||||||||||||
Total assets | 990,523 | 987,272 | 978,107 | 988,907 | 977,518 | |||||||||||||||||||||
Total deposits | 905,227 | 906,805 | 900,673 | 906,011 | 898,862 | |||||||||||||||||||||
Total stockholders' equity | $ | 81,447 | $ | 78,158 | $ | 72,059 | $ | 81,447 | $ | 74,503 | ||||||||||||||||
Selected period end balances: | ||||||||||||||||||||||||||
Securities | $ | 239,681 | $ | 242,468 | $ | 254,359 | $ | 239,681 | $ | 254,359 | ||||||||||||||||
Loans, net of unearned income | 562,714 | 560,650 | 578,068 | 562,714 | 578,068 | |||||||||||||||||||||
Allowance for credit losses | 6,965 | 6,750 | 7,142 | 6,965 | 7,142 | |||||||||||||||||||||
Total assets | 1,029,224 | 996,786 | 1,025,054 | 1,029,224 | 1,025,054 | |||||||||||||||||||||
Total deposits | 939,851 | 910,503 | 946,405 | 939,851 | 946,405 | |||||||||||||||||||||
Total stockholders' equity | $ | 86,071 | $ | 83,115 | $ | 75,209 | $ | 86,071 | $ | 75,209 | ||||||||||||||||
(a) Tax equivalent. See “Explanation of Certain Unaudited Non-GAAP Financial Measures” and “Reconciliation of GAAP | ||||||||||||||||||||||||||
to non-GAAP Measures (unaudited).” | ||||||||||||||||||||||||||
(b) Efficiency ratio is the result of noninterest expense divided by the sum of noninterest income and tax-equivalent | ||||||||||||||||||||||||||
net interest income. See "Reconciliation of GAAP to non-GAAP Measures (unaudited)" below. | ||||||||||||||||||||||||||
(c) Calculated by dividing period end share price by earnings per share for the previous four quarters. | ||||||||||||||||||||||||||
Reconciliation of GAAP to non-GAAP Measures (unaudited): | ||||||||||||||||
Quarters Ended | Six months ended | |||||||||||||||
June 30, | March 31, | June 30, | June 30, | June 30, | ||||||||||||
(Dollars in thousands, except per share amounts) | 2025 | 2025 | 2024 | 2025 | 2024 | |||||||||||
Net interest income, as reported (GAAP) | $ | 7,344 | $ | 7,045 | $ | 6,709 | $ | 14,389 | $ | 13,366 | ||||||
Tax-equivalent adjustment | 19 | 17 | 19 | 36 | 39 | |||||||||||
Net interest income (tax-equivalent) | $ | 7,363 | $ | 7,062 | $ | 6,728 | $ | 14,425 | $ | 13,405 |
