secwatch.observer — SEC 8-K summary
======================================

Issuer:     AUBURN NATIONAL BANCORPORATION, INC (AUBN)
CIK:        0000750574
Form:       8-K
Filed at:   2023-12-21T23:59:59+00:00
Accession:  0001193125-23-301256
Event type: other_material
Sentiment:  neutral
Materiality: 0.85
Item codes: 2.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/750574/000119312523301256/0001193125-23-301256-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/750574/000119312523301256/d607652d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-301256

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer