Auburn National Q3 EPS $0.43, down 22% QoQ; net interest margin shrinks to 2.73%

AUBURN NATIONAL BANCORPORATION, INC

Net income $1.5M ($0.43 EPS) vs $1.9M ($0.55) in Q2'23 and $2.0M ($0.57) in Q3'22.
Net interest margin (tax-equiv) 2.73%, down 30 bps from Q2; cost of funds rose to 142 bps from 93 bps.
Provision for credit losses $0.1M vs negative $0.4M in Q2; nonperforming assets $1.2M (0.12% of assets).
Loans grew 5% QoQ to $545.6M; brokered deposits jumped to $46.1M from $16.0M.
Dividend increased 2% to $0.27/share; $0.2M in share repurchases year-to-date.

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 third quarter 2023 results: net income Net income of $1.5 million, EPS Earnings per share of $0.43.

Period: third quarter 2023
Net income: Net income of $1.5 million
EPS: Earnings per share of $0.43
Result: reported results

Exact text from the filing

Auburn National Bancorporation, Inc. Reports Third Quarter Net Earnings Third Quarter 2023 Highlights: • Net income of $1.5 million • Earnings per share of $0.43 decreased 22% compared to the second quarter • Net interest income (tax-equivalent) was $6.4 million

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AUBURN NATIONAL BANCORPORATION, INC filing history →

Source: SEC EDGAR

accession 0001193125-23-264178

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