Auburn National Bancorporation, Inc. Reports Third Quarter Net Earnings
Higher interest income supported quarterly profit growth, while unrealized losses reduced equity from June levels.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Auburn National Bancorporation (Nasdaq: AUBN) reported third-quarter 2026 net earnings of $2.5 million, improving from both comparison quarters. Earnings per share were $0.72, versus $0.66 in the second quarter and $0.64 a year earlier. Nine-month earnings reached $7.0 million, or $2.01 per share, versus $5.6 million, or $1.60 per share.
Third-quarter tax-equivalent net interest income rose to $8.121 million from $7.641 million a year earlier, while the corresponding margin increased to 3.36% from 3.21%. Noninterest income increased, and expenses fell sequentially but rose year over year. Average loans declined sequentially but exceeded the prior-year quarter. Nonperforming assets increased to $218,000, or 0.02% of assets. Equity fell to $89.587 million from $93.874 million at June 30, primarily reflecting unrealized losses. The bank's regulatory capital ratios remained above the thresholds for well-capitalized status.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Positive
- Moderate pointThird-quarter net earnings of $2.523 million increased from $2.298 million sequentially and $2.227 million a year earlier.
- Moderate pointTax-equivalent net interest income of $8.121 million exceeded $7.995 million sequentially and $7.641 million a year earlier.
- Moderate pointThird-quarter noninterest income rose to $974,000 from $878,000 sequentially and $829,000 a year earlier.
- Moderate pointThird-quarter efficiency ratio of 64.80% improved from 68.80% sequentially and 68.55% a year earlier.
- Moderate pointNine-month negative credit-loss provision of $374,000 exceeded the $152,000 reversal in 2025, supporting earnings.
13 minor points
- Minor pointThird-quarter EPS of $0.72 exceeded $0.66 in second-quarter 2026 and $0.64 in third-quarter 2025.
- Minor pointNine-month earnings of $7.019 million, or $2.01 per share, exceeded $5.590 million, or $1.60, in 2025.
- Minor pointTax-equivalent interest margin of 3.36% improved from 3.33% sequentially and 3.21% a year earlier.
- Minor pointNine-month tax-equivalent net interest income increased to $23.948 million from $22.164 million in 2025.
- Minor pointNine-month noninterest income increased to $2.745 million from $2.365 million in 2025.
- Minor pointNine-month efficiency ratio improved to 67.06% from 70.89% in 2025.
- Minor pointAnnualized third-quarter return on assets of 0.99% exceeded 0.90% sequentially and 0.89% a year earlier.
- Minor pointAnnualized third-quarter return on equity of 10.68% exceeded 9.74% sequentially and 10.65% a year earlier.
- Minor pointNine-month annualized returns improved to 0.92% on assets and 10.03% on equity, versus 0.75% and 9.06%.
- Minor pointThird-quarter effective tax rate of 19.75% declined from 21.00% sequentially and 21.86% a year earlier.
- Minor pointThird-quarter net recoveries of $8,000 compared with $22,000 sequentially and $78,000 in net charge-offs a year earlier.
- Minor pointStock repurchases of $0.2 million returned capital to shareholders during third-quarter 2026.
- Minor pointBank regulatory capital ratios exceeded minimum thresholds for well-capitalized status at September 30, 2026.
Negative
- Moderate pointOther comprehensive loss of $5.7 million reflected increased unrealized securities and cash-flow hedge losses, net of tax.
- Minor pointEquity fell to $89.587 million from $93.874 million at June 30 and $89.613 million a year earlier.
- Minor pointBook value per share of $25.74 declined from $26.91 sequentially, but exceeded $25.65 a year earlier.
- Minor pointQuarter-end deposits of $923.338 million fell from $988.318 million sequentially, but exceeded $917.266 million a year earlier.
- Minor pointTotal assets of $1,016.988 million fell from $1,085.803 million sequentially, but exceeded $1,011.184 million a year earlier.
8 minor points
- Minor pointQuarter-end loans of $571.847 million fell from $579.589 million sequentially, but exceeded $557.912 million a year earlier.
- Minor pointAverage quarterly loans of $579.575 million declined from $582.335 million sequentially, but exceeded $556.233 million a year earlier.
- Minor pointNonperforming assets of $218,000 increased from $64,000 sequentially and $104,000 a year earlier.
- Minor pointThird-quarter negative credit-loss provision of $50,000 provided less benefit than $248,000 sequentially and $255,000 a year earlier.
- Minor pointNine-month net charge-offs increased to $372,000 from $93,000 in 2025.
- Minor pointThird-quarter noninterest expense of $5.894 million exceeded $5.806 million a year earlier, but declined from $6.105 million sequentially.
- Minor pointNine-month noninterest expense increased to $17.900 million from $17.388 million in 2025.
- Minor pointDeposit costs increased sequentially, partially offsetting third-quarter margin improvement, although they declined year over year.
Key Figures
- Net earnings
- $2.5 million vs. $2.2 million
- Third quarter 2026 vs. third quarter 2025
- Earnings per share
- $0.72 vs. $0.64
- Third quarter 2026 vs. third quarter 2025
- Tax-equivalent net interest income
- $8.1 million vs. $7.6 million
- Third quarter 2026 vs. third quarter 2025
- Tax-equivalent net interest margin
- 3.36% vs. 3.21%
- Third quarter 2026 vs. third quarter 2025
- Return on average assets
- 0.99% vs. 0.89%
- Annualized; third quarter 2026 vs. third quarter 2025
- Efficiency ratio
- 64.8% vs. 68.55%
- Third quarter 2026 vs. third quarter 2025
- Nonperforming assets to total assets
- 0.02% vs. 0.01%
- September 30, 2026 vs. June 30, 2026 and September 30, 2025
Historical Context
-
Q2 net earnings rose year over year as net interest margin expanded to 3.33%.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
cecl financial
non-gaap financial
available-for-sale financial
nonaccrual financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
Third Quarter 2026 vs. Third Quarter 2025 Highlights:
- Earnings per share increased
13% - Net interest income (tax-equivalent) increased
6% - Net interest margin (tax-equivalent) increased 15 basis points to
3.36% - Negative provision for credit losses of
$50 thousand , compared to a negative provision for credit losses of$255 thousand in 3Q 2025 - Return on assets (annualized) improved to
0.99% , compared to0.89% in 3Q 2025 - Strong credit quality – Nonperforming assets to total assets were
0.02%
AUBURN, Ala., Oct. 27, 2026 (GLOBE NEWSWIRE) -- Auburn National Bancorporation, Inc. (Nasdaq: AUBN) reported net earnings of
"Our third quarter results reflect continued revenue growth, improved profitability, and further expansion of our net interest margin," said David A. Hedges, President and CEO. "Earnings per share increased
Net interest income (tax-equivalent) was
Net interest margin (tax-equivalent) was
Nonperforming assets were
Net recoveries were
At September 30, 2026, the Company’s allowance for credit losses was
The Company recorded a negative provision for credit losses of
Noninterest income was
Noninterest expense was
The provision for income tax expense was
The effective tax rate for the third quarter of 2026 was
Total assets were
At September 30, 2026, the Company’s stockholders’ equity was
All of the Company’s marketable securities are classified as available-for-sale. Therefore, any changes in the fair value of the Company’s securities portfolio are reflected in total equity, net of tax, under generally accepted accounting principles, but do not affect our capital for regulatory purposes.
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, the effects of inflation, employment, and government fiscal and 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, 2025 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. Tax-equivalent net interest income is used in the calculation of our net interest margin and efficiency ratio. In the first quarter of 2026, we changed the presentation of net interest income on a tax-equivalent basis to account for tax-exempt interest income on municipal loans. Prior period amounts, including the presentation and calculation of our net interest margin and efficiency ratio, have been revised herein to conform with the current period presentation. These changes had no effect on the presentation of GAAP net interest income in current or prior periods.
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 | Nine months ended | |||||||||||||||||
| September 30, | June 30, | September 30, | September 30, | September 30, | ||||||||||||||
| (Dollars in thousands, except per share amounts) | 2026 | 2026 | 2025 | 2026 | 2025 | |||||||||||||
| Results of Operations | ||||||||||||||||||
| Net interest income (a) | $ | 8,121 | $ | 7,995 | $ | 7,641 | $ | 23,948 | $ | 22,164 | ||||||||
| Less: tax-equivalent adjustment | 107 | 107 | 69 | 313 | 203 | |||||||||||||
| Net interest income (GAAP) | 8,014 | 7,888 | 7,572 | 23,635 | 21,961 | |||||||||||||
| Noninterest income | 974 | 878 | 829 | 2,745 | 2,365 | |||||||||||||
| Total revenue | 8,988 | 8,766 | 8,401 | 26,380 | 24,326 | |||||||||||||
| Provision for credit losses | (50 | ) | (248 | ) | (255 | ) | (374 | ) | (152 | ) | ||||||||
| Noninterest expense | 5,894 | 6,105 | 5,806 | 17,900 | 17,388 | |||||||||||||
| Income tax expense | 621 | 611 | 623 | 1,835 | 1,500 | |||||||||||||
| Net earnings | $ | 2,523 | $ | 2,298 | $ | 2,227 | $ | 7,019 | $ | 5,590 | ||||||||
| Per share data: | ||||||||||||||||||
| Basic and diluted net earnings: | $ | 0.72 | $ | 0.66 | $ | 0.64 | $ | 2.01 | $ | 1.60 | ||||||||
| Cash dividends declared | $ | 0.27 | $ | 0.27 | $ | 0.27 | $ | 0.81 | $ | 0.81 | ||||||||
| Weighted average shares outstanding: | ||||||||||||||||||
| Basic | 3,484,168 | 3,492,107 | 3,493,699 | 3,490,131 | 3,493,699 | |||||||||||||
| Diluted | 3,485,208 | 3,492,107 | 3,495,972 | 3,491,127 | 3,494,465 | |||||||||||||
| Shares outstanding, at period end | 3,480,486 | 3,487,830 | 3,493,699 | 3,480,486 | 3,493,699 | |||||||||||||
| Stockholders' equity (book value) | $ | 25.74 | 26.91 | 25.65 | 25.74 | 25.65 | ||||||||||||
| Common stock price: | ||||||||||||||||||
| High | $ | 27.82 | $ | 28.88 | $ | 28.47 | $ | 28.88 | $ | 28.47 | ||||||||
| Low | 25.01 | 23.03 | 23.13 | 21.01 | 19.48 | |||||||||||||
| Period-end: | 26.25 | 27.04 | 28.44 | 26.25 | 28.44 | |||||||||||||
| To earnings ratio (c) | 10.54 | x | 11.22 | x | 13.87 | x | 10.54 | x | 13.87 | x | ||||||||
| To book value | 102 | % | 100 | % | 111 | % | 102 | % | 111 | % | ||||||||
| Performance ratios: | ||||||||||||||||||
| Return on average equity (annualized) | 10.68 | % | 9.74 | % | 10.65 | % | 10.03 | % | 9.06 | % | ||||||||
| Return on average assets (annualized) | 0.99 | % | 0.90 | % | 0.89 | % | 0.92 | % | 0.75 | % | ||||||||
| Dividend payout ratio | 37.50 | % | 40.91 | % | 42.19 | % | 40.30 | % | 50.63 | % | ||||||||
| Other financial data: | ||||||||||||||||||
| Net interest margin (a) | 3.36 | % | 3.33 | % | 3.21 | % | 3.32 | % | 3.16 | % | ||||||||
| Effective income tax rate | 19.75 | % | 21.00 | % | 21.86 | % | 20.73 | % | 21.16 | % | ||||||||
| Efficiency ratio (b) | 64.80 | % | 68.80 | % | 68.55 | % | 67.06 | % | 70.89 | % | ||||||||
| Asset Quality: | ||||||||||||||||||
| Nonperforming assets: | ||||||||||||||||||
| Nonperforming (nonaccrual) loans | $ | 218 | $ | 64 | $ | 104 | $ | 218 | $ | 104 | ||||||||
| Total nonperforming assets | $ | 218 | $ | 64 | $ | 104 | $ | 218 | $ | 104 | ||||||||
| Net charge-offs (recoveries) | $ | (8 | ) | $ | (22 | ) | $ | 78 | $ | 372 | $ | 93 | ||||||
| Allowance for credit losses as a % of: | ||||||||||||||||||
| Loans | 1.13 | % | 1.14 | % | 1.20 | % | 1.13 | % | 1.20 | % | ||||||||
| Nonperforming loans | 2,976 | % | 10,291 | % | 6,434 | % | 2,976 | % | 6,434 | % | ||||||||
| Nonperforming assets as a % of: | ||||||||||||||||||
| Loans and other real estate owned | 0.04 | % | 0.01 | % | 0.02 | % | 0.04 | % | 0.02 | % | ||||||||
| Total assets | 0.02 | % | 0.01 | % | 0.01 | % | 0.02 | % | 0.01 | % | ||||||||
| Nonperforming loans | ||||||||||||||||||
| as a % of total loans | 0.04 | % | 0.01 | % | 0.02 | % | 0.04 | % | 0.02 | % | ||||||||
| Annualized net charge-offs (recoveries) | ||||||||||||||||||
| as a % of average loans | (0.01 | )% | (0.02 | )% | 0.06 | % | 0.09 | % | 0.02 | % | ||||||||
| Selected average balances: | ||||||||||||||||||
| Loans, net of unearned income | $ | 579,575 | $ | 582,335 | $ | 556,233 | $ | 579,807 | $ | 560,659 | ||||||||
| Total assets | 1,018,667 | 1,021,742 | 997,892 | 1,022,163 | 991,935 | |||||||||||||
| Total deposits | 921,216 | 925,608 | 909,293 | 925,732 | 907,105 | |||||||||||||
| Total stockholders' equity | $ | 94,526 | $ | 94,340 | $ | 83,642 | $ | 93,330 | $ | 82,281 | ||||||||
| Selected period end balances: | ||||||||||||||||||
| Loans, net of unearned income | $ | 571,847 | $ | 579,589 | $ | 557,912 | $ | 571,847 | $ | 557,912 | ||||||||
| Allowance for credit losses | 6,487 | 6,586 | 6,691 | 6,487 | 6,691 | |||||||||||||
| Total assets | 1,016,988 | 1,085,803 | 1,011,184 | 1,016,988 | 1,011,184 | |||||||||||||
| Total deposits | 923,338 | 988,318 | 917,266 | 923,338 | 917,266 | |||||||||||||
| Total stockholders' equity | $ | 89,587 | $ | 93,874 | $ | 89,613 | $ | 89,587 | $ | 89,613 | ||||||||
| (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. | ||||||||||||||||||
| Average Balances and Net Interest Income Analysis (1) | ||||||||||||||||||||||||||||||||
| Quarter ended | ||||||||||||||||||||||||||||||||
| September 30, 2026 | June 30, 2026 | September 30, 2025 | ||||||||||||||||||||||||||||||
| Interest | Interest | Interest | ||||||||||||||||||||||||||||||
| Average | Income/ | Yield/ | Average | Income/ | Yield/ | Average | Income/ | Yield/ | ||||||||||||||||||||||||
| (Dollars in thousands) | Balance | Expense | Rate | Balance | Expense | Rate | Balance | Expense | Rate | |||||||||||||||||||||||
| Interest-earning assets: | ||||||||||||||||||||||||||||||||
| Loans and loans held for sale (2) (3) | $ | 579,925 | $ | 8,393 | 5.74 | % | $ | 582,590 | $ | 8,274 | 5.70 | % | $ | 556,736 | $ | 7,844 | 5.59 | % | ||||||||||||||
| Securities (3) (4) | 286,221 | 1,607 | 2.23 | % | 250,569 | 1,219 | 1.95 | % | 268,248 | 1,306 | 1.93 | % | ||||||||||||||||||||
| Federal funds sold | 25,033 | 233 | 3.69 | % | 29,471 | 260 | 3.54 | % | 27,572 | 304 | 4.37 | % | ||||||||||||||||||||
| Interest-bearing bank deposits | 68,619 | 643 | 3.72 | % | 100,439 | 934 | 3.73 | % | 90,964 | 1,027 | 4.48 | % | ||||||||||||||||||||
| Total interest-earning assets | 959,798 | $ | 10,876 | 4.50 | % | 963,069 | $ | 10,687 | 4.45 | % | 943,520 | $ | 10,481 | 4.41 | % | |||||||||||||||||
| Cash and due from banks | 13,394 | 13,515 | 13,627 | |||||||||||||||||||||||||||||
| Other assets (5) | 45,475 | 45,158 | 40,745 | |||||||||||||||||||||||||||||
| Total assets | $ | 1,018,667 | $ | 1,021,742 | $ | 997,892 | ||||||||||||||||||||||||||
| Interest-bearing liabilities: | ||||||||||||||||||||||||||||||||
| Deposits: | ||||||||||||||||||||||||||||||||
| NOW | $ | 209,454 | $ | 597 | 1.13 | % | $ | 213,794 | $ | 627 | 1.18 | % | $ | 199,060 | $ | 650 | 1.30 | % | ||||||||||||||
| Savings and money market | 269,588 | 743 | 1.09 | % | 274,169 | 680 | 0.99 | % | 265,627 | 763 | 1.14 | % | ||||||||||||||||||||
| Time deposits | 186,763 | 1,414 | 3.00 | % | 181,093 | 1,385 | 3.07 | % | 180,618 | 1,427 | 3.13 | % | ||||||||||||||||||||
| Total interest-bearing deposits | 665,805 | 2,754 | 1.64 | % | 669,056 | 2,692 | 1.61 | % | 645,305 | 2,840 | 1.75 | % | ||||||||||||||||||||
| Short-term borrowings | 132 | 1 | 3.01 | % | — | — | — | — | — | — | ||||||||||||||||||||||
| Total interest-bearing liabilities | 665,937 | $ | 2,755 | 1.64 | % | 669,056 | $ | 2,692 | 1.61 | % | 645,305 | $ | 2,840 | 1.75 | % | |||||||||||||||||
| Noninterest-bearing deposits | 255,411 | 256,552 | 263,988 | |||||||||||||||||||||||||||||
| Other liabilities | 2,793 | 1,794 | 4,957 | |||||||||||||||||||||||||||||
| Stockholders' equity | 94,526 | 94,340 | 83,642 | |||||||||||||||||||||||||||||
| Total liabilities and stockholders' equity | $ | 1,018,667 | $ | 1,021,742 | $ | 997,892 | ||||||||||||||||||||||||||
| Net interest income and margin (tax-equivalent) | $ | 8,121 | 3.36 | % | $ | 7,995 | 3.33 | % | $ | 7,641 | 3.21 | % | ||||||||||||||||||||
| (1) In the first quarter of 2026, we changed the presentation of net interest income on a tax-equivalent basis to account for tax-exempt interest income on municipal loans. Also, we reclassified average net unrealized gains (losses) on available-for-sale securities to average other assets so that average total securities are presented on an amortized cost basis in our calculation of net interest margin. Prior period amounts, including the presentation and calculation of our net interest margin, have been revised to conform with the current period presentation. | ||||||||||||||||||||||||||||||||
| (2) Loans on nonaccrual status have been included in the computation of average balances. | ||||||||||||||||||||||||||||||||
| (3) Reflects tax-equivalent adjustments, using the statutory federal income tax rate of | ||||||||||||||||||||||||||||||||
| (4) Securities are included on an amortized cost basis with yield and net interest margin calculated accordingly. | ||||||||||||||||||||||||||||||||
| (5) Includes average net unrealized gains (losses) on securities available-for-sale of | ||||||||||||||||||||||||||||||||
| Average Balances and Net Interest Income Analysis (1) | |||||||||||||||||||
| Nine months ended September 30, | |||||||||||||||||||
| 2026 | 2025 | ||||||||||||||||||
| Interest | Interest | ||||||||||||||||||
| Average | Income/ | Yield/ | Average | Income/ | Yield/ | ||||||||||||||
| (Dollars in thousands) | Balance | Expense | Rate | Balance | Expense | Rate | |||||||||||||
| Interest-earning assets: | |||||||||||||||||||
| Loans and loans held for sale (2) (3) | $ | 580,128 | $ | 24,681 | 5.69 | % | $ | 560,946 | $ | 23,161 | 5.52 | % | |||||||
| Securities (3) (4) | 264,561 | 4,067 | 2.06 | % | 274,068 | 4,010 | 1.96 | % | |||||||||||
| Federal funds sold | 26,288 | 708 | 3.60 | % | 26,717 | 875 | 4.38 | % | |||||||||||
| Interest-bearing bank deposits | 92,376 | 2,567 | 3.72 | % | 76,254 | 2,541 | 4.46 | % | |||||||||||
| Total interest-earning assets | 963,353 | $ | 32,023 | 4.44 | % | 937,985 | $ | 30,587 | 4.36 | % | |||||||||
| Cash and due from banks | 13,685 | 15,864 | |||||||||||||||||
| Other assets (5) | 45,125 | 38,086 | |||||||||||||||||
| Total assets | $ | 1,022,163 | $ | 991,935 | |||||||||||||||
| Interest-bearing liabilities: | |||||||||||||||||||
| Deposits: | |||||||||||||||||||
| NOW | $ | 219,724 | $ | 2,004 | 1.22 | % | $ | 202,381 | $ | 2,042 | 1.35 | % | |||||||
| Savings and money market | 267,035 | 1,895 | 0.95 | % | 254,095 | 1,910 | 1.01 | % | |||||||||||
| Time deposits | 182,626 | 4,175 | 3.06 | % | 185,355 | 4,470 | 3.22 | % | |||||||||||
| Total interest-bearing deposits | 669,385 | 8,074 | 1.61 | % | 641,831 | 8,422 | 1.75 | % | |||||||||||
| Short-term borrowings | 44 | 1 | 3.04 | % | 37 | 1 | 3.61 | % | |||||||||||
| Total interest-bearing liabilities | 669,429 | $ | 8,075 | 1.61 | % | 641,868 | $ | 8,423 | 1.75 | % | |||||||||
| Noninterest-bearing deposits | 256,347 | 265,274 | |||||||||||||||||
| Other liabilities | 3,057 | 2,512 | |||||||||||||||||
| Stockholders' equity | 93,330 | 82,281 | |||||||||||||||||
| Total liabilities and stockholders' equity | $ | 1,022,163 | $ | 991,935 | |||||||||||||||
| Net interest income and margin (tax-equivalent) | $ | 23,948 | 3.32 | % | $ | 22,164 | 3.16 | % | |||||||||||
| (1) In the first quarter of 2026, we changed the presentation of net interest income on a tax-equivalent basis to account for tax-exempt interest income on municipal loans. Also, we reclassified average net unrealized gains (losses) on available-for-sale securities to average other assets so that average total securities are presented on an amortized cost basis in our calculation of net interest margin. Prior period amounts, including the presentation and calculation of our net interest margin, have been revised to conform with the current period presentation. | |||||||||||||||||||
| (2) Loans on nonaccrual status have been included in the computation of average balances. | |||||||||||||||||||
| (3) Reflects tax-equivalent adjustments, using the statutory federal income tax rate of | |||||||||||||||||||
| (4) Securities are included on an amortized cost basis with yield and net interest margin calculated accordingly. | |||||||||||||||||||
| (5) Includes average net unrealized gains (losses) on securities available-for-sale of | |||||||||||||||||||
| Reconciliation of GAAP to non-GAAP Measures (unaudited): | |||||||||||||||
| Quarters Ended | Nine months ended | ||||||||||||||
| September 30, | June 30, | September 30, | September 30, | September 30, | |||||||||||
| (Dollars in thousands, except per share amounts) | 2026 | 2026 | 2025 | 2026 | 2025 | ||||||||||
| Net interest income, as reported (GAAP) | $ | 8,014 | $ | 7,888 | $ | 7,572 | $ | 23,635 | $ | 21,961 | |||||
| Tax-equivalent adjustment | 107 | 107 | 69 | 313 | 203 | ||||||||||
| Net interest income (tax-equivalent) | $ | 8,121 | $ | 7,995 | $ | 7,641 | $ | 23,948 | $ | 22,164 | |||||
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What were Auburn National Bancorporation's third-quarter 2026 earnings?
Auburn National Bancorporation earned $2.523 million, or $0.72 per share, in third-quarter 2026. That compared with $2.298 million, or $0.66 per share, in second-quarter 2026 and $2.227 million, or $0.64 per share, in third-quarter 2025.
Why did Auburn National Bancorporation's credit-loss allowance decline?
The company attributed the sequential decline primarily to lower outstanding loans and the year-over-year decline primarily to refinements in its expected-credit-loss calculation. A new municipal-loan segment introduced in first-quarter 2026 reduced the allowance because those loans had lower expected credit costs. The allowance was $6.487 million, or 1.13% of loans, at September 30, 2026.
What dividend did Auburn National Bancorporation pay in third-quarter 2026?
Auburn National Bancorporation paid a cash dividend of $0.27 per share in third-quarter 2026. The declared quarterly amount was unchanged from second-quarter 2026 and third-quarter 2025.