Auburn National Bancorporation, Inc. Reports Fourth Quarter and Full Year Results
Auburn National Bancorporation, Inc. (AUBN)
US:NASDAQ Investor Relations:
auburnbank.com
Company Research
Source: GlobeNewswire
AUBURN, Ala., Jan. 29, 2024 (GLOBE NEWSWIRE) -- Auburn National Bancorporation (Nasdaq: AUBN) reported a net loss of $4.0 million, or $1.14 per share, for the fourth quarter of 2023. The quarterly loss reflects the sale of $117.6 million of available-for-sale securities for an after-tax loss of $4.7 million or $1.36 per share. Proceeds of $111.3 million from the securities sale were used to repay high-cost wholesale funding and sell high-cost reciprocal deposits, with the remaining amounts held in cash to fund future loan growth, the purchase of higher-yielding securities, and other banking operations. Although this balance sheet repositioning strategy resulted in a loss for the fourth quarter of 2023, it immediately improved the Company’s tangible common equity ratio or total equity to total asset ratio due to a smaller balance sheet and is expected to improve the Company’s interest rate risk profile and future earnings. The Company estimates the earn-back period for the balance sh
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AUBN
News
- Auburn National Bancorporation, Inc. Reports First Quarter Net Earnings [Yahoo! Finance]Yahoo! Finance
- Auburn National Bancorporation, Inc. Reports First Quarter Net EarningsGlobeNewswire
- Auburn National Bancorporation, Inc. Elects Two New Directors [Yahoo! Finance]Yahoo! Finance
- Auburn National Bancorporation, Inc. Elects Two New DirectorsGlobeNewswire
- Don't Buy Auburn National Bancorporation, Inc. (NASDAQ:AUBN) For Its Next Dividend Without Doing These Checks [Yahoo! Finance]Yahoo! Finance
AUBN
Sec Filings
- 4/24/24 - Form 8-K
- 4/12/24 - Form 10-K/A
- 4/12/24 - Form 3
- AUBN's page on the SEC website