Auburn National Bancorporation, Inc. Reports First Quarter Net Earnings
Auburn National Bancorporation (NASDAQ: AUBN) reported strong Q1 2025 financial results with net earnings of $1.5 million, or $0.44 per share, up from $1.4 million ($0.39 per share) in Q1 2024.
Key highlights include:
- Net interest income (tax-equivalent) increased 6% to $7.1 million
- Net interest margin improved to 3.20% from 3.04% year-over-year
- Strong credit quality with nonperforming assets at just 0.05% of total assets
- Liquidity position strengthened with cash equivalents at 11.90% of total assets
- Tangible Common Equity ratio improved to 8.34%
Total assets reached $996.8 million, with loans at $560.7 million and deposits at $910.5 million. The company maintained strong capital ratios and paid a quarterly dividend of $0.27 per share.
Auburn National Bancorporation (NASDAQ: AUBN) ha riportato solidi risultati finanziari nel primo trimestre 2025 con un utile netto di 1,5 milioni di dollari, pari a 0,44 dollari per azione, in aumento rispetto a 1,4 milioni di dollari (0,39 dollari per azione) nel primo trimestre 2024.
I punti salienti includono:
- Il reddito netto da interessi (equivalente fiscale) è cresciuto del 6%, raggiungendo 7,1 milioni di dollari
- Il margine di interesse netto è migliorato al 3,20% rispetto al 3,04% dell'anno precedente
- Qualità del credito solida con attività non performanti pari a solo lo 0,05% del totale attivo
- Posizione di liquidità rafforzata con equivalenti di cassa all'11,90% del totale attivo
- Il rapporto Tangible Common Equity è salito all'8,34%
Il totale degli attivi ha raggiunto 996,8 milioni di dollari, con prestiti a 560,7 milioni di dollari e depositi a 910,5 milioni di dollari. L'azienda ha mantenuto solidi rapporti patrimoniali e ha distribuito un dividendo trimestrale di 0,27 dollari per azione.
Auburn National Bancorporation (NASDAQ: AUBN) reportó sólidos resultados financieros en el primer trimestre de 2025 con ganancias netas de 1,5 millones de dólares, o 0,44 dólares por acción, frente a 1,4 millones de dólares (0,39 dólares por acción) en el primer trimestre de 2024.
Los aspectos más destacados incluyen:
- Los ingresos netos por intereses (equivalente fiscal) aumentaron un 6% hasta 7,1 millones de dólares
- El margen neto de interés mejoró al 3,20% desde 3,04% interanual
- Calidad crediticia sólida con activos improductivos en solo el 0,05% del total de activos
- Posición de liquidez fortalecida con equivalentes de efectivo al 11,90% del total de activos
- El ratio de Capital Común Tangible mejoró al 8,34%
Los activos totales alcanzaron los 996,8 millones de dólares, con préstamos por 560,7 millones y depósitos por 910,5 millones. La empresa mantuvo sólidos índices de capital y pagó un dividendo trimestral de 0,27 dólares por acción.
Auburn National Bancorporation (NASDAQ: AUBN)은 2025년 1분기 강력한 재무 실적을 보고했으며, 순이익은 150만 달러로 주당 0.44달러를 기록해 2024년 1분기의 140만 달러(주당 0.39달러)에서 증가했습니다.
주요 내용은 다음과 같습니다:
- 세후 환산 순이자수익이 6% 증가하여 710만 달러 달성
- 순이자마진이 전년 동기 대비 3.04%에서 3.20%로 개선
- 총자산 대비 0.05%에 불과한 부실자산으로 우수한 신용 품질 유지
- 현금성 자산이 총자산의 11.90%로 유동성 강화
- 유형보통자본비율(Tangible Common Equity) 8.34%로 상승
총자산은 9억 9,680만 달러에 달했으며, 대출금은 5억 6,070만 달러, 예금은 9억 1,050만 달러였습니다. 회사는 견고한 자본 비율을 유지하며 주당 0.27달러의 분기 배당금을 지급했습니다.
Auburn National Bancorporation (NASDAQ : AUBN) a annoncé de solides résultats financiers pour le premier trimestre 2025, avec un bénéfice net de 1,5 million de dollars, soit 0,44 dollar par action, en hausse par rapport à 1,4 million de dollars (0,39 dollar par action) au premier trimestre 2024.
Les points clés sont les suivants :
- Le revenu net d'intérêts (équivalent fiscal) a augmenté de 6 % pour atteindre 7,1 millions de dollars
- La marge nette d'intérêts s'est améliorée à 3,20 % contre 3,04 % en glissement annuel
- Qualité du crédit solide avec des actifs non performants représentant seulement 0,05 % du total des actifs
- Position de liquidité renforcée avec des équivalents de trésorerie à 11,90 % du total des actifs
- Le ratio de fonds propres tangibles est passé à 8,34 %
Le total des actifs a atteint 996,8 millions de dollars, avec des prêts à 560,7 millions et des dépôts à 910,5 millions. La société a maintenu de solides ratios de capital et a versé un dividende trimestriel de 0,27 dollar par action.
Auburn National Bancorporation (NASDAQ: AUBN) meldete starke Finanzergebnisse für das erste Quartal 2025 mit einem Nettogewinn von 1,5 Millionen US-Dollar bzw. 0,44 US-Dollar pro Aktie, gegenüber 1,4 Millionen US-Dollar (0,39 US-Dollar pro Aktie) im ersten Quartal 2024.
Wichtige Highlights sind:
- Das Nettozinseinkommen (steueräquivalent) stieg um 6 % auf 7,1 Millionen US-Dollar
- Die Nettomarge verbesserte sich von 3,04 % auf 3,20 % im Jahresvergleich
- Starke Kreditqualität mit notleidenden Vermögenswerten von nur 0,05 % der Gesamtaktiva
- Verbesserte Liquiditätslage mit Zahlungsmittelnäquivalenten von 11,90 % der Gesamtaktiva
- Die Tangible Common Equity Ratio stieg auf 8,34 %
Die Gesamtaktiva erreichten 996,8 Millionen US-Dollar, mit Krediten von 560,7 Millionen US-Dollar und Einlagen von 910,5 Millionen US-Dollar. Das Unternehmen hielt starke Kapitalquoten und zahlte eine vierteljährliche Dividende von 0,27 US-Dollar pro Aktie.
- None.
- None.
First Quarter 2025 Highlights:
- Net income of
$1.5 million , or$0.44 per share, compared to$1.4 million , or$0.39 per share in 1Q 2024 - Net interest income (tax-equivalent) was
$7.1 million , an increase of6% compared to 1Q 2024 - Net interest margin (tax-equivalent) of
3.20% , compared to3.04% in 1Q 2024 - Strong balance sheet –
- Credit quality – Nonperforming assets to total assets were
0.05% - Liquidity – Cash and cash equivalents to total assets increased to
11.90% , compared to7.41% at March 31, 2024 - Capital – Tangible Common Equity (“TCE”) to total assets improved to
8.34% , compared to7.61% at March 31, 2024
- Credit quality – Nonperforming assets to total assets were
AUBURN, Ala., April 22, 2025 (GLOBE NEWSWIRE) -- Auburn National Bancorporation, Inc. (Nasdaq: AUBN) reported net earnings of
“Our first quarter results reflect strong credit quality and continued improvement in our net interest margin,” said David A. Hedges, President and CEO. “While loan demand has slowed, we remain optimistic that our net interest margin will continue to improve as loans and securities re-price. Once again, our capital and liquidity remain strong and we are well positioned to meet the needs of our customers,” continued Mr. Hedges.
Net interest income (tax-equivalent) was
Net interest margin (tax-equivalent) was
Nonperforming assets were
The Company recorded a negative provision for credit losses of
At March 31, 2025, the Company’s allowance for credit losses was
Noninterest income was
Noninterest expense was
The provision for income tax expense was
The effective tax rate for the first quarter of 2025 was
Total assets were
At March 31, 2025, the Company's consolidated stockholders' equity (book value) was
The Company’s tangible common equity (“TCE”) ratio or total equity to total assets ratio was
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, effects of inflation and employment, including Federal Reserve 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 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, 2024 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, and the presentation and calculation of the efficiency ratio, a non-GAAP measure. 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.
| Financial Highlights (unaudited) | Quarter ended | |||||||||||||
| March 31, | December 31, | March 31, | ||||||||||||
| (Dollars in thousands, except per share amounts) | 2025 | 2024 | 2024 | |||||||||||
| Results of Operations | ||||||||||||||
| Net interest income (a) | $ | 7,062 | 6,988 | 6,677 | ||||||||||
| Less: tax-equivalent adjustment | 17 | 19 | 20 | |||||||||||
| Net interest income (GAAP) | 7,045 | 6,969 | 6,657 | |||||||||||
| Noninterest income | 747 | 845 | 887 | |||||||||||
| Total revenue | 7,792 | 7,814 | 7,544 | |||||||||||
| Provision for credit losses | (10 | ) | (48 | ) | 334 | |||||||||
| Noninterest expense | 5,880 | 5,472 | 5,675 | |||||||||||
| Income tax expense | 392 | 830 | 164 | |||||||||||
| Net earnings | $ | 1,530 | 1,560 | 1,371 | ||||||||||
| Per share data: | ||||||||||||||
| Basic and diluted net earnings | $ | 0.44 | 0.45 | 0.39 | ||||||||||
| Cash dividends declared | $ | 0.27 | 0.27 | 0.27 | ||||||||||
| Weighted average shares outstanding: | ||||||||||||||
| Basic and diluted | 3,493,699 | 3,493,699 | 3,493,663 | |||||||||||
| Shares outstanding, at period end | 3,493,699 | 3,493,699 | 3,493,699 | |||||||||||
| Stockholders' equity (book value) | $ | 23.79 | 22.41 | 21.32 | ||||||||||
| Common stock price: | ||||||||||||||
| High | $ | 23.37 | 24.57 | 21.55 | ||||||||||
| Low | 20.36 | 20.06 | 18.82 | |||||||||||
| Period-end | 21.59 | 23.49 | 19.27 | |||||||||||
| To earnings ratio (c) | 11.42 | x | 12.77 | 83.78 | ||||||||||
| To book value | 91 | % | 105 | 90 | ||||||||||
| Performance ratios: | ||||||||||||||
| Return on average equity (annualized) | 7.83 | % | 7.49 | 7.13 | ||||||||||
| Return on average assets (annualized) | 0.62 | % | 0.63 | 0.56 | ||||||||||
| Dividend payout ratio | 61.36 | % | 60.00 | 69.23 | ||||||||||
| Other financial data: | ||||||||||||||
| Net interest margin (a) | 3.20 | % | 3.09 | 3.04 | ||||||||||
| Effective income tax rate | 20.40 | % | 34.73 | 10.68 | ||||||||||
| Efficiency ratio (b) | 75.30 | % | 69.86 | 75.03 | ||||||||||
| Asset Quality: | ||||||||||||||
| Nonperforming assets: | ||||||||||||||
| Nonperforming (nonaccrual) loans | $ | 520 | 503 | 878 | ||||||||||
| Total nonperforming assets | $ | 520 | 503 | 878 | ||||||||||
| Net charge-offs (recoveries) | $ | 64 | (16 | ) | (67 | ) | ||||||||
| Allowance for credit losses as a % of: | ||||||||||||||
| Loans | 1.20 | % | 1.22 | 1.27 | ||||||||||
| Nonperforming loans | 1,298 | % | 1,366 | 822 | ||||||||||
| Nonperforming assets as a % of: | ||||||||||||||
| Loans and other real estate owned | 0.09 | % | 0.09 | 0.15 | ||||||||||
| Total assets | 0.05 | % | 0.05 | 0.09 | ||||||||||
| Nonperforming loans as a % of total loans | 0.09 | % | 0.09 | 0.15 | ||||||||||
| Annualized net charge-offs (recoveries) as a % of average loans | 0.05 | % | (0.01 | ) | (0.05 | ) | ||||||||
| Selected average balances: | ||||||||||||||
| Securities | $ | 240,588 | 255,168 | 267,606 | ||||||||||
| Loans, net of unearned income | 566,082 | 567,634 | 560,757 | |||||||||||
| Total assets | 987,272 | 991,275 | 976,930 | |||||||||||
| Total deposits | 906,805 | 904,605 | 897,051 | |||||||||||
| Total stockholders' equity | 78,158 | 83,325 | 76,948 | |||||||||||
| Selected period end balances: | ||||||||||||||
| Securities | $ | 242,468 | 243,012 | 260,770 | ||||||||||
| Loans, net of unearned income | 560,650 | 564,017 | 567,520 | |||||||||||
| Allowance for credit losses | 6,750 | 6,871 | 7,215 | |||||||||||
| Total assets | 996,786 | 977,324 | 979,039 | |||||||||||
| Total deposits | 910,503 | 895,824 | 899,673 | |||||||||||
| Total stockholders' equity | 83,115 | 78,292 | 74,489 | |||||||||||
| (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. | ||||||||||||||
| Reconciliation of GAAP to non-GAAP Measures (unaudited): | |||||||||||
| Quarter ended | |||||||||||
| March 31, | December 31, | March 31, | |||||||||
| (Dollars in thousands, except per share amounts) | 2025 | 2024 | 2024 | ||||||||
| Net interest income, as reported (GAAP) | $ | 7,045 | 6,969 | 6,657 | |||||||
| Tax-equivalent adjustment | 17 | 19 | 20 | ||||||||
| Net interest income (tax-equivalent) | $ | 7,062 | 6,988 | 6,677 | |||||||
FAQ
What was Auburn National Bancorporation's (AUBN) earnings per share in Q1 2025?
How did AUBN's net interest margin perform in the first quarter of 2025?
What is AUBN's current dividend payment per share?
How strong is AUBN's asset quality as of Q1 2025?
What was AUBN's book value per share at the end of Q1 2025?
