[SCHEDULE 13D] AUBURN NATIONAL BANCORPORATION, INC SEC Filing

Rhea-AI Filing Summary

Bruce Steven Spencer filed a Schedule 13D reporting beneficial ownership of 251,238 shares of Auburn National Bancorporation, Inc. (AUBN), equal to 7.2% of outstanding shares, following transfers from estate and trust accounts on September 11, 2025. Spencer holds 243,902 inherited shares as sole trustee with sole voting and dispositive power for Recipient Trusts FBO Bruce Steven Spencer and also directly or indirectly holds an additional 7,336 shares (including personal and LLC-related interests). The filing states these changes reflect inheritance transfers and no other arrangements or contemplated actions.

Positive

• Material ownership disclosed: reporting person beneficially owns 251,238 shares (7.2%) of AUBN.
• Sole voting and dispositive power: Spencer is sole trustee over Recipient Trusts holding 243,902 inherited shares, giving clear control of those shares.

Negative

• Exclusions noted: 2,640 shares held by Spencer LLC reflect membership interests not beneficially owned by the reporting person, reducing his direct economic interest in some related holdings.

Insights

Corporate Governance Expert

TL;DR: A trustee gained sole voting power over 7.2% of AUBN via inheritance transfers, raising governance and control considerations.

The Schedule 13D documents that Bruce Steven Spencer now holds beneficial voting and dispositive power over 251,238 shares (7.2%) through trustee roles and limited direct ownership. The transfers were effected from multiple estate and trust accounts as part of settlement of the E.L. Spencer and Ruth P. Spencer estates. Spencer disclaims beneficial interest in certain shares held by related parties and foundations. No contracts, arrangements, or planned actions are disclosed. This is a material ownership disclosure that could affect shareholder voting dynamics without immediate contractual commitments.

Financial Analyst

TL;DR: Ownership rise from under 1% to 7.2% is material; filing shows concentration shift but no stated commercial or financial transactions.

The filing quantifies the position: 251,238 shares beneficially owned versus 3,493,699 shares outstanding (as reported August 11, 2025), representing 7.2%. Of those, 243,902 shares are held in Recipient Trusts where Spencer is sole trustee. The source of the position is inheritance transfers; no purchase funding was used. The report contains no evidence of planned sales, acquisitions, or strategic agreements tied to this ownership change.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

Auburn National Bancorporation, Inc

(Name of Issuer)

Common Stock, par value $0.01

(Title of Class of Securities)

050473107

(CUSIP Number)

Bruce Steven Spencer
100 N Gay Street,
Auburn, AL, 36830
334.887.2772

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

09/11/2025

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

SCHEDULE 13D

CUSIP No. 050473107

1

Name of reporting person

Bruce Steven Spencer

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 249,918.00
8	Shared Voting Power 20,322.00
9	Sole Dispositive Power 249,918.00
10	Shared Dispositive Power 20,322.00

11

Aggregate amount beneficially owned by each reporting person

251,238.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

7.2 %

14

Type of Reporting Person (See Instructions)

IN, OO

Comment for Type of Reporting Person:

(11) Aggregate amount beneficially owned by each reporting person Prior to the events described below, Bruce Steven Spencer (the "Reporting Person") individually held 5,914 shares of Auburn National Bancorporation, Inc. (the "Company" or the "Issuer")common stock, $0.01 par value per share ("Shares"). He also held 102 Shares as custodian for his minor son. The Reporting Person may be deemed to have shared voting and dispositive power over the 3,960 Shares held by Spencer LLC ("Spencer LLC"), where the Reporting Person has an indirect interest in 1,320 Shares reflecting his one-third membership interest in Spencer LLC. Sandra J. Spencer is the manager of Spencer LLC, where Sandra J. Spencer, Edward L. Spencer, III and Bruce Steven Spencer each hold a one-third membership interest in Spencer LLC. Sandra J. Spencer and Edward L. Spencer beneficially own an aggregate of 2,640 Shares of the Shares held by Spencer LLC. The Reporting Person disclaims any beneficial or economic interest in such 2,640 Shares. The Reporting Person also may be deemed to have beneficial ownership and shared voting and dispositive power over 16,362 Shares held by the Edward L. Spencer Jr. Foundation, a 501(c)(3) private foundation (the "Spencer Foundation") where the Reporting Person is one of two directors. The Reporting Person disclaims any beneficial interest and any economic interest in the 16,362 Shares held by the Spencer Foundation. This Schedule 13D is filed to reflect transfers made as part of the settlement of the Estate of Edward L. Spencer, Jr. (the "E.L. Spencer Estate") and the estate of his wife, Mrs. Ruth P. Spencer, pursuant to the terms of their wills and related trusts established by Mr. and Mrs. Spencer (the "Parents"). The Parents' daughter, Sandra J. Spencer has been (i) the sole Personal Representative of the E.L. Spencer Jr. Estate and the sole trustee of the Spencer Revocable Trust, which held an aggregate of 666,825 Shares; and (ii) the sole trustee of the Spencer 2008 Irrevocable Trust established by the late Edward L. Spencer, Jr., which held 47,882 Shares. She was also the sole Personal Representative of the estate of Ruth P. Spencer and the sole trustee of Ruth P. Spencer Revocable Trust, which held 17,000 Shares. The Shares held by these estates and trusts are referred to as the "Parents' Shares." On September 11, 2025, the following transfers were made in the brokerage accounts holding the Parents' Shares: * The transfer of a total of 47,882 Shares from the Spencer 2008 Irrevocable Trust to Exempt Trusts for the benefit of Sandra J. Spencer, and her two brothers, Bruce Steven Spencer and Edward L. Spencer, III (the "Brothers"). Of these Shares, 15,961 Shares are being transferred to and held by the Spencer 2008 Exempt Trust for the benefit of ("FBO") Bruce Steven Spencer, where the Reporting Person is the sole trustee with sole voting and dispositive power; * the transfer of a total of 666,825 Shares from the E.L. Spencer Estate and the Spencer 2008 Revocable Trust to Sandra J. Spencer and her two Brothers' respective Spencer Family Non-Exempt Trusts. Of these Shares, 222,275 Shares are being transferred to and held in the Spencer Family Non-Exempt Trust FBO Bruce Steven Spencer, where the Reporting Person is the sole trustee with sole voting and dispositive power; and * the transfer of a total of 17,000 Shares from the Estate of Ruth P. Spencer and the Ruth Spencer Revocable Trust to Sandra J. Spencer and her two Brothers' respective Spencer Family Non-Exempt Trusts. Of these Shares, 5,666 Shares are being transferred to and held in the Spencer Family Non-Exempt Trust FBO Bruce Steven Spencer, where the Reporting Person is the sole trustee with sole voting and dispositive power. These transfers are referred to collectively as the "Inheritance Transfers." The Trusts FBO Bruce Steven Spencer that received Shares in the Inheritance Transfers are the "Recipient Trusts." The Reporting Person holds, as sole trustee of the Recipient Trusts FBO Bruce Steven Spencer, a total of 243,902 Shares (the "Inherited Shares") as a result of the Inheritance Transfers of Parent Shares. As a result of the Inheritance Transfers, and his individually owned Shares, the Reporting Person may be deemed to beneficially own, a total of 251,238 Shares. These include: * 243,902 total Inherited Shares, which the Reporting Person holds as trustee of the Spencer 2008 Exempt Trust FBO Bruce Steven Spencer and the Spencer Family Non-Exempt Trust FBO Bruce Steven Spencer, in each case, with sole voting and dispositive power; and * 6,016 Shares previously held by the Reporting Person individually or as custodian where he has sole voting and dispositive power. * 1,320 Shares reflecting the Reporting person's one-third membership interest in Spencer LLC, which holds 3,960 Shares. 12) The amount shown in Row 11 excludes a total of 2,640 Shares, which reflect the two-thirds membership interests in Spencer LLC not held by the Reporting Person. 13.)The 251,238 Shares shown in Row 11 are 7.2% of the Company's total outstanding Shares reported as of August 11, 2025 on the cover page of the Issuer's latest Quarterly Report on Commission Form 10-Q as of and for the six months ended June 30, 2025. 14) The Reporting Person is filing individually and as and as Trustee of as Trustee of the Spencer 2008 Exempt Trust FBO Bruce Steven Spencer and as Trustee of the Spencer Family Non-Exempt Trust FBO Bruce Steven Spencer

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Stock, par value $0.01
(b)	Name of Issuer: Auburn National Bancorporation, Inc
(c)	Address of Issuer's Principal Executive Offices: 100 N. Gay Street, Auburn, ALABAMA , 36830.
Item 2.	Identity and Background
(a)	Bruce Steven Spencer
(b)	c/o 100 N. Gay Street Auburn, Alabama 36830
(c)	Salesman
(d)	None
(e)	None
(f)	United States of America
Item 3.	Source and Amount of Funds or Other Consideration
	Not applicable. The Reporting Person acquired the voting and dispositive power over Shares aggregating 5% or more of the Issuer's outstanding Shares as a result of the Inheritance Transfers to the Recipient Trusts FBO Bruce Steven Spencer. Previously, the Reporting Person held beneficial ownership of less than 1.0% of the Company's outstanding Shares.
Item 4.	Purpose of Transaction
	To reflect the Inheritance Transfers to Recipient Trusts FBO Bruce Steven Spencer. The Reporting Person is the sole Trustee of the Recipient Trusts FBO Bruce Steven Spencer. There are no actions of the type specified in the Instruction to this Item 4 or similar actions contemplated presently.
Item 5.	Interest in Securities of the Issuer
(a)	See responses to Items 11-13 above. The aggregate number of Shares deemed beneficially owned by the Reporting Person is 251,238, which is 7.2% of the total outstanding Shares of the Company. The cover page of the Issuer's Quarterly Report on Commission Form 10-Q as of and for the three months ended June 30, 2025 reported that the Issuer had 3,493,699 shares issued and outstanding as of August 11, 2025.
(b)	See responses to Items 11-13 above.
(c)	None, except as described with in Row 11 and Item 3 above with respect to the Inheritance Transfers. See responses to Rows 11 and 12 and Item 3 above.
(d)	Not applicable
(e)	Not applicable
Item 6.	Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer
	Not applicable.
Item 7.	Material to be Filed as Exhibits.
	None.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Bruce Steven Spencer

Signature:	/s/ Bruce Steven Spencer
Name/Title:	Individually and as Trustee FBO Bruce Steven Spencer
Date:	09/15/2025

FAQ

How many AUBN shares does Bruce Steven Spencer report owning?

The filing reports 251,238 shares beneficially owned by Bruce Steven Spencer, representing 7.2% of outstanding shares.

What caused Spencer's ownership to increase to over 5% of AUBN?

The increase resulted from inheritance transfers of shares from the E.L. Spencer Estate and related trusts to Recipient Trusts FBO Bruce Steven Spencer on September 11, 2025.

Does Spencer have voting control over the inherited shares?

Yes. Spencer is the sole trustee of the Recipient Trusts and has sole voting and dispositive power over the 243,902 inherited shares held in those trusts.

Are there any contracts or arrangements related to these shares?

The Schedule 13D states no contracts, arrangements, or understandings with respect to the issuer's securities are applicable.

What portion of the reported shares does Spencer disclaim beneficial interest in?

Spencer disclaims beneficial or economic interest in 2,640 shares held by Spencer LLC that represent the two-thirds membership interests not owned by him.