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. (Nasdaq: AUBN) is the parent company of AuburnBank, an Alabama state-chartered commercial bank and member of the Federal Reserve System headquartered in Auburn, Alabama. The Bank conducts its business in East Alabama, including Lee County and surrounding areas, with full-service branches in Auburn, Opelika, Valley, and Notasulga, Alabama and a loan production office in Phenix City, Alabama. This news page focuses on developments that the Company discloses through press releases and SEC filings.
Readers following AUBN news can review regular announcements of quarterly and annual financial results, where the Company reports metrics such as net earnings, net interest income, net interest margin, noninterest income and expense, asset quality indicators and capital ratios. These earnings releases often highlight trends in credit quality, including nonperforming assets as a percentage of total assets, and discuss factors influencing the provision for credit losses and the allowance for credit losses.
News coverage for Auburn National Bancorporation also includes recurring dividend declarations by the Board of Directors, specifying the cash dividend per share along with record and payment dates. Corporate governance and capital-related updates appear in items such as the election of new directors, adoption of equity and incentive compensation plans, and amendments or proposed amendments to the Company’s Certificate of Incorporation.
Because AuburnBank emphasizes both community banking and electronic banking services, company news may reference digital initiatives, such as the rollout of online account opening for certain deposit products, alongside traditional branch-based activities. Investors and observers can use this page to review the Company’s official communications over time and to see how Auburn National Bancorporation describes its performance, capital position and strategic actions in its East Alabama markets.
Auburn National Bancorporation (AUBN) announced a quarterly cash dividend of $0.265 per share on November 8, 2022. The dividend is payable on December 27, 2022, to shareholders of record as of December 9, 2022.
The company, with total assets of approximately $1.0 billion, operates AuburnBank, which has been serving East Alabama since 1907. AuburnBank has eight branches in Auburn, Opelika, Valley, and Notasulga, and a loan production office in Phenix City.
Auburn National Bancorporation (AUBN) announced leadership changes, effective January 1, 2023. Bob Dumas will retire as President and CEO on December 31, 2022, after 39 years with the company, but will continue as Chairman of the Board. David Hedges, the current EVP and CFO, will succeed Dumas as CEO, while James Walker will assume the role of CFO. The transition reflects a well-planned succession strategy, emphasizing stability and continued growth in East Alabama's banking sector. The company holds approximately $1.0 billion in consolidated assets.
Auburn National Bancorporation reported Q3 2022 net earnings of $2.0 million ($0.57/share), up from $1.9 million ($0.53/share) in Q3 2021. Total revenue rose 15% due to a 20% increase in net interest income, driven by improved loan growth of 8% compared to Q2 2022. Noninterest income fell to $0.9 million, down from $1.0 million. The company recorded a provision for loan losses of $0.3 million. Stockholders’ equity declined to $59.8 million from $103.7 million at year-end 2021 due to unrealized losses on securities. Dividends increased 2% to $0.265 per share.
Auburn National Bancorporation (AUBN) has declared a cash dividend of $0.265 per share for the third quarter, payable on September 26, 2022, to shareholders of record as of September 9, 2022. The company, headquartered in Auburn, Alabama, operates AuburnBank, which has been in service since 1907 and holds approximately $1.1 billion in total assets. AuburnBank serves East Alabama and operates eight branches in various locations including Auburn and Opelika.
Auburn National Bancorporation (AUBN) reported a 2% increase in total revenue for Q2 2022, totaling $6.5 million in net interest income, a 6% rise from Q2 2021. Net earnings were $1.8 million or $0.51 per share, down from $2.3 million or $0.65 per share in Q2 2021. Total loans increased by $12.5 million (12% linked-quarter annualized). The allowance for loan losses was $4.7 million, with no provision for loan losses this quarter, contrasting with a negative provision of $600 thousand in Q2 2021.
Auburn National Bancorporation (AUBN) has declared a second quarter cash dividend of $0.265 per share, to be paid on June 24, 2022 to shareholders on record as of June 10, 2022. The company, headquartered in Auburn, Alabama, has total assets of approximately $1.1 billion and operates its banking services primarily in East Alabama. AuburnBank has a legacy dating back to 1907 and supports the local community with its eight branches.
Auburn National Bancorporation (AUBN) reported earnings of $2.1 million, or $0.59 per share, for Q1 2022, reflecting a 5% increase from Q1 2021. Net interest income rose 2% to $6.2 million, but total revenue declined about 2% due to a 54% drop in mortgage lending income. A negative provision for loan losses of $250,000 was recorded, contrasting with none a year earlier. Total loans decreased by $29.9 million or 7%. The net interest margin fell to 2.43%, down from 2.66% in the prior year, while dividends per share increased by 2% to $0.265.
Auburn National Bancorporation (NASDAQ: AUBN) has approved a new stock repurchase program totaling $5 million to buy back its common stock. This program replaces the previous one that expired on March 31, 2022, and is set to run until April 15, 2024. The company plans to use various methods for repurchases, including open-market transactions. The timing and amount will depend on management's evaluation of the company's liquidity and stock value.
The Board of Directors of Auburn National Bancorporation has declared a cash dividend of $0.265 per share for the first quarter of 2022, payable on March 25, 2022, to shareholders of record as of March 10, 2022. This dividend reflects a 2% increase over the previous year, marking the 21st consecutive year of dividend growth. Auburn National Bancorporation, the parent of AuburnBank, boasts total assets of approximately $1.1 billion and operates in East Alabama, reinforcing its commitment to shareholder returns.
Auburn National Bancorporation (AUBN) reported a net earnings increase to $8.0 million ($2.27/share) for 2021, up from $7.5 million ($2.09/share) in 2020. However, total revenue fell by 7% in Q4 2021 compared to Q4 2020, driven by a 3% drop in net interest income due to margin compression. Mortgage lending income saw a significant 33% decline as refinancing slowed. The company had a negative provision for loan losses of $600,000 in 2021, improving from $1.1 million in 2020. Cash dividends rose by 2%, and regulatory capital ratios remain robust.