Welcome to our dedicated page for Auburn National news (Ticker: AUBN), a resource for investors and traders seeking the latest updates and insights on Auburn National stock.
Auburn National Bancorporation, Inc. (AUBN), a community-focused bank serving East Alabama since 1907, maintains this dedicated news hub for investors and stakeholders. Track all official corporate developments through verified press releases and financial updates covering earnings reports, leadership changes, operational milestones, and regulatory filings.
This centralized resource provides timely access to AUBN's strategic initiatives in commercial lending, digital banking advancements, and community reinvestment programs. Users will find updates on dividend declarations, asset management strategies, and market position developments within Alabama's competitive banking sector.
Key content categories include quarterly financial results, merger/acquisition activity, board appointments, and service expansions. All materials are sourced directly from the company to ensure accuracy and compliance with financial disclosure standards.
For ongoing monitoring of this NASDAQ-listed community bank, bookmark this page or check regularly for new filings. Combine these primary sources with Stock Titan's analysis tools for comprehensive investment research.
Auburn National Bancorporation (AUBN) reported a 13% increase in total revenues for Q1 2023 compared to Q1 2022, driven by a 17% rise in net interest income, totaling $7.2 million. The net interest margin was 3.17%, up from 2.43% a year prior. However, net earnings slightly decreased to $2.0 million or $0.56 per share, down from $2.1 million or $0.59 per share year-over-year. The cost of funds increased to 71 basis points, causing pressures on profitability. The company adopted a new accounting standard, raising the allowance for credit losses by $1.0 million. Total deposits were $939.2 million, down 1% from the end of 2022, while total assets remained stable at $1.0 billion.
Auburn National Bancorporation (AUBN) announced a cash dividend of $0.27 per share for the first quarter of 2023, to be paid on March 27, 2023, to shareholders recorded by March 10, 2023. This dividend represents a 2% increase over the previous year's first quarter dividend and marks the 22nd consecutive year of dividend growth. The company, which operates AuburnBank, has total assets of approximately $1.0 billion and serves East Alabama with eight branches, reflecting its commitment to shareholder value.
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