AUBN News & Events

"Our fourth quarter and full year earnings reflect solid growth in our net interest income and margin, including record full year net interest income of $29.7 million," said David A. Hedges, President and CEO. "Although our provision for credit losses increased, primarily due to two loan relationships, our asset quality, capital, and liquidity remain strong, our outlook for loan growth in 2026 has improved, and we continue to make progress on our digital banking initiatives. I would like to thank our team for all of their efforts in 2025, including their ongoing dedication to serving our customers and communities" said Mr. Hedges.

Net interest income was $7.4M in the second quarter of 2025, compared to $7.1M in the first quarter of 2025, and $6.7M in the second quarter of 2024. Net interest margin was 3.27% in the second quarter of 2025, compared to 3.20% in the first quarter of 2025, and 3.06% in the second quarter of 2024. Reports book value per share $24.64. The Company's tangible common equity ratio or total equity to total assets ratio was 8.36% at June 30, 2025, compared to 8.34% at March 31, 2025, and 7.34% at June 30, 2024. "Our second quarter results reflect strong credit quality and continued improvement in our net interest margin," said David 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.

Reports Q1 revenue $7.792M vs $7.544M last year. "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 Hedges.

Net interest income was $6.8 million in the third quarter of 2024, compared to $6.7 million in the second quarter of 2024, and $6.4 million in the third quarter of 2023. Net interest margin was 3.05% in the third quarter of 2024, compared to 3.06% in the second quarter of 2024, and 2.73% in the third quarter of 2023. Total assets were $990.1 million at September 30, 2024, compared to $1.0 billion at June 30, 2024 and September 30, 2023, respectively. At September 30, 2024, the Company's consolidated stockholders' equity was $84.3 million or $24.14 per share, compared to $75.2 million, or $21.53 per share, at June 30, 2024, and $61.5 million, or $17.59 per share, at September 30, 2023. The Company's tangible common equity ratio or total equity to total assets ratio was 8.52% at September 30, 2024, compared to 7.34% at June 30, 2024, and 5.96% at September 30, 2023. "Our third quarter and year to date results benefited from the balance sheet repositioning we completed in the fourth quarter of 2023. This, combined with loan growth during 2024, have improved the Company's net interest income and margin in the third quarter when compared to the same quarter last year," said David A. Hedges, President and CEO. "Along with improvements in our balance sheet, we continue to look for opportunities to grow and increase our efficiency. After careful consideration of our customers and the close proximity to our other locations in Auburn, we are closing our Corner Village branch by year end, which should provide additional cost savings beginning in 2025," continued Mr. Hedges.