Auburn National sells $117.6M in securities, records $4.7M after-tax loss to reposition balance sheet

AUBURN NATIONAL BANCORPORATION, INC

Sold ~$117.6M (27% of AFS) with weighted avg book yield 2.11% and duration 4.0 years; after-tax loss of $4.7M ($1.36/share).
Proceeds $111.3M used to repay $48M wholesale funding at 5.38% cost; remainder held for loans and higher-yielding securities.
Expects net loss in Q4 2023 but improved net interest income by $2.8M pre-tax and EPS by ~$0.60 (after-tax) in 2024.
Balance sheet expected below $1B total assets by Dec 31, 2023, improving TCE ratio and providing cost savings.
Earn-back period ~2.3 years; capital ratios remain well above well-capitalized levels.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.