Quarterly ResultMay 13, 2026, 04:02 PM
Auburn National Q1 Net Earnings $2.2M, EPS $0.63
AI Summary
Auburn National Bancorporation reported increased net earnings for the first quarter of 2026, reaching $2.2 million, or $0.63 per share, compared to $1.5 million, or $0.44 per share, in the prior year. Net interest income also rose to $7.7 million from $7.0 million. The company refined its loan portfolio segmentation to separately identify municipal loans, which contributed to a decrease in the total allowance for credit losses due to lower expected credit losses.
Key Highlights
- Q1 2026 net earnings rose 43.6% to $2.2 million from $1.5 million YoY.
- Basic and diluted EPS increased 43.2% to $0.63 from $0.44 YoY.
- Net interest income grew 9.8% to $7.7 million from $7.0 million YoY.
- Total assets reached $1.03 billion at March 31, 2026.
- Loans, net, increased 3.1% to $575.3 million at March 31, 2026.
- Provision for credit losses was a $(76)k benefit in Q1 2026.
- Nonaccrual loans decreased to $102k from $482k sequentially.
- Cash dividends of $0.27 per share were paid in Q1 2026.
Price Impact
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