Auburn National Q1 net earnings decline to $0.56/sh; NIM expands to 3.17% but provision and NPA rise

AUBURN NATIONAL BANCORPORATION, INC

Net earnings $2.0M ($0.56/sh) vs $2.1M ($0.59/sh) in Q1 2022, a 5% decline.
Total revenues up 13% YoY; net interest margin (tax-equivalent) 3.17% vs 2.43%.
Provision for credit losses $0.1M (vs negative $0.3M); CECL adoption added $1.0M to allowance.
Nonperforming assets $2.7M (0.26% of assets) vs $0.8M (0.07%) a year ago; one large relationship.
Dividends increased 2% to $0.27/sh; no wholesale borrowings; uninsured deposits 39.3% (adjusted 20.9%).

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

AUBURN NATIONAL BANCORPORATION, INC reported first quarter of 2023 results: net income $2.0 million, EPS $0.56 per share.

Period: first quarter of 2023
Net income: $2.0 million
EPS: $0.56 per share
Result: reported results

Exact text from the filing

AUBURN, Alabama – Auburn National Bancorporation, Inc. (Nasdaq: AUBN) reported net earnings of $2.0 million, or $0.56 per share, for the first quarter of 2023

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AUBURN NATIONAL BANCORPORATION, INC filing history →

Source: SEC EDGAR

accession 0001193125-23-114609

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