Auburn National reports record Q4 net earnings of $4.5M, full year $10.3M

AUBURN NATIONAL BANCORPORATION, INC

Q4 net earnings $4.5M ($1.27 EPS) vs $1.9M ($0.53) in Q4 2021; full year $10.3M ($2.95) vs $8.0M ($2.27).
Net interest margin (tax-equiv) expanded to 3.27% from 2.45% in Q4 2021.
Nonperforming assets rose to $2.7M (0.27% of assets) from $0.8M (0.07%) due to one downgraded borrowing relationship.
Recorded $3.2M gain on land sale and $1.6M ERC credit; provision for loan losses was $1.0M.
Paid Q4 dividend of $0.265/share, up 2% YoY; repurchased 17,183 shares for $0.5M in 2022.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

AUBURN NATIONAL BANCORPORATION, INC reported the quarter and year ended December 31, 2022 results: revenue Total revenue increased by $4.3 million, or 62%, in the fourth quarter of 2022, compared to the fourth quarter of 2021, net income record quarterly net earnings of $4.5 million, or $1.27 per share, EPS $1.27 per share.

Period: the quarter and year ended December 31, 2022
Revenue: Total revenue increased by $4.3 million, or 62%, in the fourth quarter of 2022, compared to the fourth quarter of 2021
Net income: record quarterly net earnings of $4.5 million, or $1.27 per share
EPS: $1.27 per share
Result: reported results

Exact text from the filing

stated in any such filing. Attached and incorporated herein by reference as Exhibit 99.1 is a copy of the press release of Auburn National Bancorporation, Inc., dated January 30, 2023, reporting the Company’s financial results for the quarter and year ended December 31, 2022. --- EX-99.1 (EX-99.1) --- EX-99.1 Exhibit 99.1 For additional information, contact:

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Source: SEC EDGAR

accession 0001193125-23-018682

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