Valuation Update With 7 Day Price Move • Jun 29
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to US$28.88, the stock trades at a trailing P/E ratio of 12.7x. Average trailing P/E is 12x in the Banks industry in the US. Total returns to shareholders of 59% over the past three years. Buy Or Sell Opportunity • Jun 11
Now 22% undervalued Over the last 90 days, the stock has risen 3.7% to US$24.38. The fair value is estimated to be US$31.15, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 2.7% over the last 3 years. Earnings per share has declined by 2.5%. Upcoming Dividend • Jun 06
Upcoming dividend of US$0.27 per share Eligible shareholders must have bought the stock before 10 June 2026. Payment date: 25 June 2026. Payout ratio is a comfortable 48% and this is well supported by cash flows. Trailing yield: 4.3%. Within top quartile of American dividend payers (4.2%). Higher than average of industry peers (2.4%). Declared Dividend • May 22
First quarter dividend of US$0.27 announced Dividend of US$0.27 is the same as last year. Ex-date: 10th June 2026 Payment date: 25th June 2026 Dividend yield will be 4.4%, which is higher than the industry average of 3.2%. Sustainability & Growth The dividend has increased by an average of 2.1% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 1.1% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • May 14
Auburn National Bancorporation, Inc. Declares Second Quarter Cash Dividend, Payable June 25, 2026 On May 12, 2026, the Board of Directors of Auburn National Bancorporation, Inc. declared a second quarter $0.27 per share cash dividend, payable June 25, 2026 to shareholders of record as of June 10, 2026. Announcement • Apr 30
Auburn National Bancorporation, Inc. Reports Charge Offs for the First Quarter Ended March 31, 2026 Auburn National Bancorporation, Inc. reported charge offs for the first quarter ended March 31, 2026. For the period, the company reported net charge-offs of $402,000 compared to $64,000 a year ago. Announcement • Apr 03
Auburn National Bancorporation, Inc., Annual General Meeting, May 12, 2026 Auburn National Bancorporation, Inc., Annual General Meeting, May 12, 2026. Location: auburnbank center, 100 north gay street, alabama, auburn United States Announcement • Mar 28
Auburn National Bancorporation, Inc. and Auburn Bank Elect Jeff Evans as Director Auburn National Bancorporation, Inc. announced that their Boards of Directors had been expanded to 12 persons and that Jeff Evans was elected as director of both the Company and the Bank. Mr. Evans, 56, is the President and Chief Executive Officer of both Evans Realty, a property management company specializing in multi-family apartment communities, and J & L Contractors, a commercial construction company. Mr. Evans has served in these roles since 2021 and 1998, respectively, and has been with both companies since 1994, bringing over 30 years of experience in commercial real estate and construction. Mr. Evans holds a bachelor’s degree in Building Science from Auburn University. Announcement • Mar 18
Auburn National Bancorporation, Inc. (NasdaqGM:AUBN) announces an Equity Buyback for $5 million worth of its shares. Auburn National Bancorporation, Inc. (NasdaqGM:AUBN) announces a share repurchase program. Under the program, the company will repurchase up to $5 million worth of its issued and outstanding common stock. The program will expire on the earliest of the expenditure of $5 million on Share repurchases, the termination or replacement of the Repurchase Plan and March 15, 2027. Announcement • Feb 11
Auburn National Bancorporation, Inc. Declares First Quarter Cash Dividend, Payable March 25, 2026 On February 10, 2026, the Board of Directors of Auburn National Bancorporation, Inc. declared a first quarter $0.27 per share cash dividend, payable March 25, 2026 to shareholders of record as of March 10, 2026. Announcement • Jan 28
Auburn National Bancorporation, Inc. Reports Net Charge-Offs for the Fourth Quarter Ended December 31, 2025 Auburn National Bancorporation, Inc. reported net charge-offs for the fourth quarter ended December 31, 2025. Net charge-offs were $304,000 for the fourth quarter of 2025. Announcement • Nov 13
Auburn National Bancorporation, Inc. Declares Quarterly Dividend, Payable on December 26, 2025 On November 12, 2025, the Board of Directors of Auburn National Bancorporation, Inc. declared a fourth quarter $0.27 per share cash dividend, payable December 26, 2025 to shareholders of record as of December 10, 2025. Announcement • Oct 24
Auburn National Bancorporation, Inc. Reports Unaudited Net Charge-Offs Results for the Third Quarter Ended September 30, 2025 Auburn National Bancorporation, Inc. reported unaudited net charge-offs results for the third quarter ended September 30, 2025. For the quarter, the company reported net charge-offs of $78,000 against $60,000 a year ago. Announcement • Oct 07
Auburn National Bancorporation, Inc. and Auburnbank Elect Walton T. Conn, Jr. as Independent Director, Effective October 6, 2025 The Board of Directors (the “Board”) of Auburn National Bancorporation, Inc. (the “Company”) and AuburnBank (the “Bank”), upon the recommendation of its Nominating and Corporate Governance Committee, elected Walton T. Conn, Jr. on October 6, 2025, to serve as director for the Company and the Bank for a term ending on the Company’s 2026 Annual Meeting of Shareholders to be held May 12, 2026, and until his successors are elected and qualified. The Board of Directors has determined that Mr. Conn is an independent director for purposes of the Nasdaq corporate governance rules. Mr. Conn, 63, was Global Chief Operating Officer – Quality, Risk & Regulatory for KPMG International from 2015 until his retirement in 2023. Prior to this, he served as Global Head of Audit Methodology and Implementation (2008 – 2015) and various other roles during his 38 years with KPMG and its predecessors. He also represented KPMG on the PCAOB’s Standing Advisory Group (2012-2015) and the Auditing Standards Board (2006-2009).Mr. Conn holds a bachelor’s degree in accounting from Auburn University and serves on the board of directors for the Arnold & Winnie Palmer Foundation. He has previously served as director for the Auburn University Foundation, the Auburn Alumni Association, and as an advisory council member for Auburn University’s Harbert College of Business and School of Accountancy. Announcement • Aug 13
Auburn National Bancorporation, Inc. Declares Quarterly Dividend, Payable on September 25, 2025 On August 12, 2025, the Board of Directors of Auburn National Bancorporation, Inc. declared a third quarter $0.27 per share cash dividend, payable September 25, 2025 to shareholders of record as of September 10, 2025. Announcement • Jun 13
Auburn National Bancorporation, Inc. and AuburnBank Announces Resignation of Laura Cooper as Director, Effective June 11, 2025 On June 11, 2025, Ms. Laura Cooper resigned as a director of Auburn National Bancorporation, Inc. (Company) and the company’s wholly owned subsidiary, AuburnBank (Bank). Ms. Cooper has served as a director of the Company and the Bank since 2020. Announcement • May 15
Auburn National Bancorporation, Inc. announces Quarterly dividend, payable on June 25, 2025 Auburn National Bancorporation, Inc. announced Quarterly dividend of USD 0.2700 per share payable on June 25, 2025, ex-date on June 10, 2025 and record date on June 10, 2025. Announcement • Apr 04
Auburn National Bancorporation, Inc., Annual General Meeting, May 13, 2025 Auburn National Bancorporation, Inc., Annual General Meeting, May 13, 2025. Location: auburnbank center, 100 north gay street, auburn, United States Announcement • Feb 12
Auburn National Bancorporation, Inc. Declares First Quarter Dividend, Payable on March 25, 2025 Auburn National Bancorporation, Inc. announced on February 11, 2025, the Board of Directors of the company declared a first quarter $0.27 per share cash dividend, payable March 25, 2025 to shareholders of record as of March 10, 2025. Announcement • Nov 13
Auburn National Bancorporation, Inc. Declares Quarterly Dividend, Payable December 26, 2024 On November 12, 2024, the Board of Directors of Auburn National Bancorporation, Inc. declared a fourth quarter $0.27 per share cash dividend, payable December 26, 2024 to shareholders of record as of December 10, 2024. Announcement • Aug 14
Auburn National Bancorporation, Inc. Declares Quarterly Dividend, Payable September 25, 2024 On August 13, 2024, the Board of Directors of Auburn National Bancorporation, Inc. declared a third quarter $0.27 per share cash dividend, payable September 25, 2024 to shareholders of record as of September 10, 2024. Announcement • Jul 24
Auburn National Bancorporation, Inc. Reports Unaudited Net Charge-Offs for the Second Quarter Ended June 30, 2024 Auburn National Bancorporation, Inc. reported unaudited net charge-offs for the second quarter ended June 30, 2024. For the quarter, the company reported net charge-offs of $9,000 against recoveries of $144,000 a year ago. Declared Dividend • May 19
First quarter dividend of US$0.27 announced Dividend of US$0.27 is the same as last year. Ex-date: 10th June 2024 Payment date: 25th June 2024 Dividend yield will be 5.7%, which is higher than the industry average of 3.2%. Sustainability & Growth The dividend has increased by an average of 2.5% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to grow by 423% to bring the payout ratio under control. However, EPS has declined by 38% over the last 5 years so the company would need to reverse this trend. Announcement • May 16
Auburn National Bancorporation, Inc. Declares Quarterly Dividend, Payable June 25, 2024 On May 14, 2024, the Board of Directors of Auburn National Bancorporation, Inc. declared a second quarter $0.27 per share cash dividend, payable June 25, 2024 to shareholders of record as of June 10, 2024. Recent Insider Transactions • May 01
President recently bought US$176k worth of stock On the 26th of April, David Hedges bought around 10k shares on-market at roughly US$17.60 per share. This transaction increased David's direct individual holding by 6x at the time of the trade. This was the largest purchase by an insider in the last 3 months. David has been a buyer over the last 12 months, purchasing a net total of US$206k worth in shares. Announcement • Apr 04
Auburn National Bancorporation, Inc., Annual General Meeting, May 14, 2024 Auburn National Bancorporation, Inc., Annual General Meeting, May 14, 2024, at 15:00 Central Daylight. Location: AuburnBank Center, 100 North Gay Street, Auburn Auburn Alabama United States Agenda: To elect 11 nominees to serve on the Board of Directors for a one-year term; to approve, on a non-binding, advisory basis, the compensation of the Company’s “named executive officers” as disclosed in the proxy statement that accompanies this notice; to approve the 2024 Equity and Incentive Compensation Plan; to ratify the appointment of Elliott Davis LLC as the independent registered public accounting firm of the Company for the fiscal year ending December 31, 2024; and to transact such other business as may properly come before the Meeting. Announcement • Mar 30
Auburn National Bancorporation, Inc. and AuburnBank Elect Two New Directors Auburn National Bancorporation, Inc. and AuburnBank announced that Sandra J. Spencer and Michael A. Lawler have been elected effective March 29, 2024 to the Board of Directors for both the Company and the Bank. Ms. Spencer is currently retired from Auburn University. Before retiring, Ms. Spencer served as the Director for the Alabama 4-H Youth Development and Conference Center in Columbiana, Alabama from 2000 to 2014. Ms. Spencer received her B.S. in Business Administration from Auburn University and is a member of Chapter A, P.E.O., a philanthropic organization focused on the education and advancement of women. Ms. Spencer is the daughter of E. L. Spencer, Jr., the Company’s former Chairman. Ms. Spencer’s extensive experience in hospitality and customer service along with the relationships she has developed in the community and with Auburn University make her uniquely qualified to assist the Company. Mr. Lawler is the founder and Chief Executive Officer of Fullsteam Holdings LLC, a leading payments and software company headquartered in Auburn, Alabama, that was established in 2018. Prior to Fullsteam, Mr. Lawler, served as an executive officer and President of the Strategic Markets Group for Heartland Payment Systems, Inc, (“Heartland”) where he led mergers and acquisitions and established Heartland in several vertical markets by acquiring core business software platforms and leading their growth through continuous product development and payment integration. Mr. Lawler is a graduate of Auburn University, with a B.S. in Computer Engineering and a Masters Degree in Computer Science. Upcoming Dividend • Feb 29
Upcoming dividend of US$0.27 per share Eligible shareholders must have bought the stock before 07 March 2024. Payment date: 25 March 2024. Trailing yield: 5.1%. Within top quartile of American dividend payers (4.8%). Higher than average of industry peers (3.1%). Declared Dividend • Feb 17
Fourth quarter dividend of US$0.27 announced Dividend of US$0.27 is the same as last year. Ex-date: 7th March 2024 Payment date: 25th March 2024 Dividend yield will be 5.1%, which is higher than the industry average of 3.2%. Sustainability & Growth The dividend has increased by an average of 2.5% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to grow by 201% to bring the payout ratio under control. However, EPS has declined by 30% over the last 5 years so the company would need to reverse this trend. Announcement • Feb 15
Auburn National Bancorporation, Inc. Declares First Quarter Dividend, Payable March 25, 2024 On February 13, 2024, the Board of Directors of Auburn National Bancorporation, Inc. declared a first quarter $0.27 per share cash dividend, payable March 25, 2024, to shareholders of record as of March 8, 2024. New Risk • Jan 31
New major risk - Revenue and earnings growth Earnings have declined by 3.6% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 3.6% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (271% payout ratio). Profit margins are more than 30% lower than last year (6.0% net profit margin). Market cap is less than US$100m (US$73.0m market cap). Upcoming Dividend • Nov 30
Upcoming dividend of US$0.27 per share at 5.1% yield Eligible shareholders must have bought the stock before 07 December 2023. Payment date: 26 December 2023. Payout ratio is a comfortable 38% and this is well supported by cash flows. Trailing yield: 5.1%. Within top quartile of American dividend payers (4.9%). Higher than average of industry peers (3.6%). Announcement • Nov 15
Auburn National Bancorporation, Inc. Declares Quarterly Dividend, Payable on December 26, 2023 On November 14, 2023, the Board of Directors of Auburn National Bancorporation, Inc. declared a fourth quarter $0.27 per share cash dividend, payable December 26, 2023 to shareholders of record as of December 8, 2023. Reported Earnings • Oct 29
Third quarter 2023 earnings released: EPS: US$0.43 (vs US$0.57 in 3Q 2022) Third quarter 2023 results: EPS: US$0.43 (down from US$0.57 in 3Q 2022). Revenue: US$7.03m (down 10% from 3Q 2022). Net income: US$1.49m (down 26% from 3Q 2022). Profit margin: 21% (down from 26% in 3Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. Announcement • Oct 28
Auburn National Bancorporation, Inc. Reports Unaudited Net Charge Offs for the Third Quarter Ended September 30, 2023 Auburn National Bancorporation, Inc. reported unaudited net charge offs for the third quarter ended September 30, 2023. for the quarter, the company reported Net charge-offs of $14,000. Announcement • Sep 16
Auburn National Bancorporation, Inc. Announces Retirement of Edward Lee Spencer, III as Director, Effective September 30, 2023 Auburn National Bancorporation, Inc. announced that Edward Lee Spencer, III provided notice that he was retiring effective September 30, 2023 as a director of the Company and as a member of the Property Committee. Mr. Spencer has served as a director of the Company and AuburnBank since 1991. Upcoming Dividend • Aug 31
Upcoming dividend of US$0.27 per share at 4.9% yield Eligible shareholders must have bought the stock before 07 September 2023. Payment date: 25 September 2023. Payout ratio is a comfortable 36% and this is well supported by cash flows. Trailing yield: 4.9%. Within top quartile of American dividend payers (4.9%). Higher than average of industry peers (3.6%). Announcement • Aug 09
Auburn National Bancorporation, Inc. Declares a Cash Dividend, for the Third Quarter, Payable on September 25, 2023 On August 8, 2023, the Board of Directors of Auburn National Bancorporation, Inc. declared a third quarter $0.27 per share cash dividend, payable September 25, 2023 to shareholders of record as of September 8, 2023. Reported Earnings • Jul 25
Second quarter 2023 earnings released: EPS: US$0.55 (vs US$0.51 in 2Q 2022) Second quarter 2023 results: EPS: US$0.55 (up from US$0.51 in 2Q 2022). Revenue: US$8.04m (up 11% from 2Q 2022). Net income: US$1.93m (up 7.1% from 2Q 2022). Profit margin: 24% (in line with 2Q 2022). Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 23% per year, which means it is significantly lagging earnings. Buying Opportunity • Jun 15
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 13%. The fair value is estimated to be US$25.91, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.1% over the last 3 years. Earnings per share has grown by 5.2%. Upcoming Dividend • Jun 01
Upcoming dividend of US$0.27 per share at 4.9% yield Eligible shareholders must have bought the stock before 08 June 2023. Payment date: 26 June 2023. Payout ratio is a comfortable 37% and this is well supported by cash flows. Trailing yield: 4.9%. Lower than top quartile of American dividend payers (5.2%). Higher than average of industry peers (3.7%). Announcement • May 11
Auburn National Bancorporation, Inc. Declares Second Quarter Dividend, Payable June 26, 2023 On May 9, 2023, the Board of Directors of Auburn National Bancorporation, Inc. declared a second quarter $0.27 per share cash dividend, payable June 26, 2023 to shareholders of record as of June 9, 2023. Reported Earnings • Mar 21
Full year 2022 earnings released: EPS: US$2.95 (vs US$2.27 in FY 2021) Full year 2022 results: EPS: US$2.95 (up from US$2.27 in FY 2021). Revenue: US$32.7m (up 13% from FY 2021). Net income: US$10.3m (up 29% from FY 2021). Profit margin: 32% (up from 28% in FY 2021). The increase in margin was driven by higher revenue. Net interest margin (NIM): 2.81% (up from 2.55% in FY 2021). Cost-to-income ratio: 58.1% (down from 67.6% in FY 2021). Non-performing loans: 0.54% (up from 0.10% in FY 2021). Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Upcoming Dividend • Mar 02
Upcoming dividend of US$0.27 per share at 4.5% yield Eligible shareholders must have bought the stock before 09 March 2023. Payment date: 27 March 2023. Trailing yield: 4.5%. Within top quartile of American dividend payers (4.4%). Higher than average of industry peers (3.0%). Board Change • Mar 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 2 experienced directors. 8 highly experienced directors. President, CEO & Director David Hedges was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Feb 15
Auburn National Bancorporation, Inc. Declares Quarterly Dividend, Payable on March 27, 2023 On February 14, 2023, the Board of Directors of Auburn National Bancorporation, Inc. declared a first quarter $0.27 per share cash dividend, payable March 27, 2023 to shareholders of record as of March 10, 2023. Announcement • Feb 01
Auburn National Bancorporation, Inc. Reports Net Charge Off for the Fourth Quarter Ended December 31, 2022 Auburn National Bancorporation, Inc. reported net charge off for the fourth quarter ended December 31, 2022. For the quarter, the company reported net charge off of $201,000 against $180,000 a year ago. Reported Earnings • Feb 01
Full year 2022 earnings released: EPS: US$2.95 (vs US$2.27 in FY 2021) Full year 2022 results: EPS: US$2.95 (up from US$2.27 in FY 2021). Revenue: US$32.7m (up 13% from FY 2021). Net income: US$10.3m (up 29% from FY 2021). Profit margin: 32% (up from 28% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 25% per year, which means it is significantly lagging earnings. Upcoming Dividend • Dec 01
Upcoming dividend of US$0.27 per share Eligible shareholders must have bought the stock before 08 December 2022. Payment date: 27 December 2022. Payout ratio is a comfortable 48% but the company is not cash flow positive. Trailing yield: 4.7%. Within top quartile of American dividend payers (4.3%). Higher than average of industry peers (3.0%). Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 8 highly experienced directors. Independent Director J. Barrett was the last director to join the board, commencing their role in 2010. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • Oct 26
Third quarter 2022 earnings released: EPS: US$0.57 (vs US$0.53 in 3Q 2021) Third quarter 2022 results: EPS: US$0.57 (up from US$0.53 in 3Q 2021). Revenue: US$7.85m (up 13% from 3Q 2021). Net income: US$2.00m (up 6.6% from 3Q 2021). Profit margin: 26% (down from 27% in 3Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has fallen by 17% per year, which means it is performing significantly worse than earnings. Upcoming Dividend • Sep 01
Upcoming dividend of US$0.27 per share Eligible shareholders must have bought the stock before 08 September 2022. Payment date: 26 September 2022. Payout ratio is a comfortable 48% but the company is not cash flow positive. Trailing yield: 3.8%. Lower than top quartile of American dividend payers (4.3%). Higher than average of industry peers (3.2%). Buying Opportunity • Aug 17
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 2.2%. The fair value is estimated to be US$36.21, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 6.1%. Announcement • Aug 10
Auburn National Bancorporation, Inc. Declares Quarterly Dividend, Payable on September 26, 2022 On August 9, 2022, the Board of Directors of Auburn National Bancorporation, Inc. declared a third quarter $0.265 per share cash dividend, payable on September 26, 2022 to shareholders of record as of September 9, 2022. Reported Earnings • Jul 28
Second quarter 2022 earnings released: EPS: US$0.51 (vs US$0.64 in 2Q 2021) Second quarter 2022 results: EPS: US$0.51 (down from US$0.64 in 2Q 2021). Revenue: US$7.22m (down 6.0% from 2Q 2021). Net income: US$1.80m (down 21% from 2Q 2021). Profit margin: 25% (down from 30% in 2Q 2021). Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has fallen by 12% per year, which means it is performing significantly worse than earnings. Buying Opportunity • Jun 23
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 16%. The fair value is estimated to be US$36.98, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 5.7%. Upcoming Dividend • Jun 02
Upcoming dividend of US$0.27 per share Eligible shareholders must have bought the stock before 09 June 2022. Payment date: 24 June 2022. Payout ratio is a comfortable 46% but the company is not cash flow positive. Trailing yield: 3.5%. Lower than top quartile of American dividend payers (3.9%). Higher than average of industry peers (2.9%). Announcement • May 12
Auburn National Bancorporation, Inc. Declares Quarterly Dividend, Payable on June 24, 2022 On May 10, 2022, the Board of Directors of Auburn National Bancorporation, Inc. declared a second quarter $0.265 per share cash dividend, payable June 24, 2022 to shareholders of record as of June 10, 2022. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 8 highly experienced directors. Independent Director J. Barrett was the last director to join the board, commencing their role in 2010. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Announcement • Apr 13
Auburn National Bancorporation, Inc. (NasdaqGM:AUBN) announces an Equity Buyback for $5 million worth of its shares. Auburn National Bancorporation, Inc. (NasdaqGM:AUBN) announces a share repurchase program. Under the program, the company will repurchase up to $5 million worth of its issued and outstanding common stock. The program will expire on April 15, 2024. Announcement • Mar 31
Auburn National Bancorporation, Inc., Annual General Meeting, May 10, 2022 Auburn National Bancorporation, Inc., Annual General Meeting, May 10, 2022, at 15:00 Central Daylight. Location: Auburn University & Dixon Conference Center 241 South College Street Auburn Alabama United States Agenda: To elect 9 director nominees to the Board of Directors for one-year terms; to approve, on a non-binding, advisory basis, the compensation of the Company's named executive officers as disclosed in the proxy statement that accompanies this notice; to ratify the appointment of Elliott Davis LLC as the independent registered public accounting firm of the Company for the fiscal year ending December 31, 2022; and to transact such other business as may properly come before the Meeting. Reported Earnings • Mar 12
Full year 2021 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2021 results: EPS: US$2.27 (up from US$2.09 in FY 2020). Revenue: US$28.9m (up 2.0% from FY 2020). Net income: US$8.04m (up 7.8% from FY 2020). Profit margin: 28% (up from 26% in FY 2020). Net interest margin (NIM): 2.55% (down from 2.92% in FY 2020). Cost-to-income ratio: 67.6% (up from 64.7% in FY 2020). Non-performing loans: 0.10% (down from 0.12% in FY 2020). Revenue missed analyst estimates by 3.4%. Earnings per share (EPS) exceeded analyst estimates by 4.2%. Over the last 3 years on average, earnings per share has fallen by 5% per year whereas the company’s share price has fallen by 1% per year. Upcoming Dividend • Mar 02
Upcoming dividend of US$0.27 per share Eligible shareholders must have bought the stock before 09 March 2022. Payment date: 25 March 2022. Payout ratio is a comfortable 46% but the company is not cash flow positive. Trailing yield: 3.3%. Lower than top quartile of American dividend payers (3.6%). Higher than average of industry peers (2.4%). Announcement • Feb 09
Auburn National Bancorporation, Inc. Declares Quarterly Dividend Payable on March 25, 2022 On February 8, 2022, the Board of Directors of Auburn National Bancorporation, Inc. declared a first quarter $0.265 per share cash dividend, payable March 25, 2022 to shareholders of record as of March 10, 2022. This represents a 2% increase over dividends declared for the first quarter of 2022 and it marks the 21st consecutive year that the Companyhas increased its cash dividend to shareholders. Reported Earnings • Jan 29
Full year 2021 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2021 results: EPS: US$2.27 (up from US$2.09 in FY 2020). Revenue: US$28.9m (up 2.0% from FY 2020). Net income: US$8.04m (up 7.8% from FY 2020). Profit margin: 28% (up from 26% in FY 2020). Revenue missed analyst estimates by 3.4%. Earnings per share (EPS) exceeded analyst estimates by 4.2%. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Announcement • Jan 28
Auburn National Bancorporation, Inc. Reports Net Charge-Offs for the Fourth Quarter Ended December 31, 2021 Auburn National Bancorporation, Inc. reported net charge-offs for the fourth quarter ended December 31, 2021. For the quarter, the company reported net charge-offs of $180,000. Board Change • Dec 05
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 8 highly experienced directors. Independent Director J. Barrett was the last director to join the board, commencing their role in 2010. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Upcoming Dividend • Dec 02
Upcoming dividend of US$0.26 per share Eligible shareholders must have bought the stock before 09 December 2021. Payment date: 27 December 2021. Trailing yield: 3.0%. Lower than top quartile of American dividend payers (3.6%). Higher than average of industry peers (2.3%). Reported Earnings • Oct 21
Third quarter 2021 earnings released: EPS US$0.53 (vs US$0.54 in 3Q 2020) The company reported a soft third quarter result with weaker earnings, although revenues and profit margins were flat. Third quarter 2021 results: Revenue: US$6.97m (flat on 3Q 2020). Net income: US$1.88m (down 3.2% from 3Q 2020). Profit margin: 27% (in line with 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has fallen by 5% per year. Upcoming Dividend • Sep 02
Upcoming dividend of US$0.26 per share Eligible shareholders must have bought the stock before 09 September 2021. Payment date: 27 September 2021. Trailing yield: 3.0%. Lower than top quartile of American dividend payers (3.5%). Higher than average of industry peers (2.3%). Reported Earnings • Jul 22
Second quarter 2021 earnings released: EPS US$0.64 (vs US$0.47 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: US$7.69m (up 10% from 2Q 2020). Net income: US$2.29m (up 38% from 2Q 2020). Profit margin: 30% (up from 24% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has fallen by 12% per year, which means it is performing significantly worse than earnings. 
