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 (NASDAQ: AUBN) operates AuburnBank, a community-focused financial institution serving East Alabama since 1907. The company's news coverage centers on quarterly financial results, dividend declarations, regulatory filings, and strategic developments affecting its commercial and consumer banking operations in Lee County and surrounding communities.
As a community bank holding company, Auburn National Bancorporation's newsworthy events typically include earnings announcements that reveal loan portfolio performance, deposit growth trends, net interest margin movements, and credit quality metrics. These quarterly disclosures provide insight into how local economic conditions in East Alabama impact the bank's lending activities and deposit base. Investors and analysts track these reports to assess the bank's profitability, capital adequacy, and competitive positioning within the regional banking landscape.
Dividend announcements represent another significant news category for Auburn National Bancorporation, as the company maintains a regular quarterly dividend policy. These declarations signal the board's confidence in earnings sustainability and capital strength, factors that income-focused investors prioritize when evaluating community bank stocks. Changes to dividend rates or payment schedules often reflect management's outlook on earnings trends and capital deployment priorities.
Governance developments, including director elections and board composition changes, also generate news coverage. For community banks, board members often bring local market expertise, business relationships, and strategic guidance that influence the institution's direction. Leadership transitions and board appointments can signal strategic shifts or succession planning activities relevant to long-term shareholders.
Regulatory filings and material events disclosed through SEC Form 8-K provide timely updates on developments that affect shareholder value. These may include significant loan transactions, changes to credit facilities, regulatory compliance matters, or strategic initiatives that fall outside the regular quarterly reporting cycle. Following Auburn National Bancorporation's news feed helps investors stay informed about developments affecting this East Alabama community banking franchise.
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.
Auburn National Bancorporation (Nasdaq: AUBN) reported record net earnings of $4.5 million, or $1.27 per share, for Q4 2022, showcasing a significant growth from $1.9 million, or $0.53 per share, in Q4 2021. Total revenue surged by 62% to $11.2 million, primarily driven by a $3.2 million gain from selling land, with net interest income increasing 23% to $7.6 million. However, nonperforming assets rose to $2.7 million (0.27% of total assets), reflecting a downgrade of a key borrowing relationship. The company’s tax rate also jumped to 24.56% due to higher pre-tax earnings. Despite challenges, AUBN stated confidence in maintaining long-term shareholder value.
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.
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