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, Inc. (Nasdaq: AUBN) reported third quarter 2024 net earnings of $1.7 million, or $0.50 per share, matching Q2 2024 and improving from $1.5 million, or $0.43 per share, in Q3 2023. Key highlights include:
- Return on Assets improved to 0.71% from 0.58% in Q3 2023
- Net interest margin increased to 3.05% from 2.73% in Q3 2023
- Net interest income rose 7% to $6.8 million compared to Q3 2023
- Average loans grew 8% to $571.7 million compared to Q3 2023
- Loan to deposit ratio increased to 62.7% from 56.6% at September 30, 2023
- Tangible common equity to total assets improved to 8.52% from 5.96% at September 30, 2023
The company benefited from balance sheet repositioning and loan growth, leading to improved net interest income and margin. A branch closure is planned by year-end to increase efficiency and provide cost savings in 2025.
Auburn National Bancorporation (Nasdaq: AUBN) has announced its third quarter dividend for 2024. The Board of Directors declared a $0.27 per share cash dividend on August 13, 2024. This dividend will be payable on September 25, 2024 to shareholders of record as of September 10, 2024. This announcement demonstrates the company's commitment to providing regular returns to its shareholders, maintaining its dividend policy despite potential economic uncertainties. The consistency in dividend payments may be seen as a positive sign of the company's financial stability and confidence in its future performance.
Auburn National Bancorporation (AUBN) reported net earnings of $1.7 million, or $0.50 per share, for Q2 2024, up from $1.4 million in Q1 2024 but down from $1.9 million in Q2 2023. Key highlights include:
- Total revenue increased 1%
- Net interest margin improved 2 basis points to 3.06%
- Average loans grew 9% annualized
- Strong credit quality with nonperforming assets at 0.08% of total assets
- Noninterest expense decreased 3%
The company reported solid loan growth, stable net interest margin, and continued strength in credit quality, liquidity, and capital. However, the interest rate environment is expected to remain challenging in H2 2024.
On May 14, 2024, Auburn National Bancorporation's Board of Directors declared a second quarter cash dividend of $0.27 per share.
The dividend will be paid on June 25, 2024, to shareholders of record as of June 10, 2024. The announcement reflects the company's ongoing commitment to providing shareholder value.
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