Auburn National Bancorporation(US:AUBN)2025-10-23 20:54Financial Performance - Net earnings for Q3 2025 were $2.2 million, or $0.64 per share, up from $1.8 million, or $0.52 per share in Q2 2025, and $1.7 million, or $0.50 per share in Q3 2024[4] - Total revenue for Q3 2025 reached $8,401,000, up 3.3% from $8,133,000 in Q2 2025 and 10.0% from $7,636,000 in Q3 2024[24] - Net earnings for Q3 2025 were $2,227,000, representing a 21.5% increase compared to $1,833,000 in Q2 2025 and a 28.6% increase from $1,732,000 in Q3 2024[24] - Basic and diluted net earnings per share for Q3 2025 were $0.64, up from $0.52 in Q2 2025 and $0.50 in Q3 2024[24] Interest Income and Margin - Net interest income (tax-equivalent) increased to $7.6 million in Q3 2025, compared to $7.4 million in Q2 2025 and $6.8 million in Q3 2024, reflecting an 11% increase year-over-year[6] - Net interest income for Q3 2025 was $7,572,000, an increase of 3.1% from $7,344,000 in Q2 2025 and 11.5% from $6,790,000 in Q3 2024[24] - Net interest margin (tax-equivalent) improved to 3.30% in Q3 2025, up from 3.27% in Q2 2025 and 3.05% in Q3 2024, representing a 25 basis points increase year-over-year[7] Asset Quality - Nonperforming assets were $0.1 million, or 0.01% of total assets, at September 30, 2025, down from $0.3 million, or 0.03% at June 30, 2025, and $0.8 million, or 0.08% at September 30, 2024[8] - The Company recorded a negative provision for credit losses of $255 thousand in Q3 2025, compared to a charge of $113 thousand in Q2 2025 and a negative provision of $127 thousand in Q3 2024[9] - The Company's allowance for credit losses was $6.7 million, or 1.20% of total loans, at September 30, 2025, down from $7.0 million, or 1.24% at June 30, 2025[11] Efficiency and Returns - Return on assets (annualized) improved to 0.89% in Q3 2025, compared to 0.71% in Q3 2024[10] - The return on average equity (annualized) for Q3 2025 was 10.65%, up from 9.00% in Q2 2025 and 9.10% in Q3 2024[24] - The efficiency ratio for Q3 2025 improved to 68.96%, compared to 69.95% in Q2 2025 and 71.83% in Q3 2024[24] Assets and Deposits - Total assets were $1.0 billion at September 30, 2025, unchanged from June 30, 2025, and up from $990.1 million at September 30, 2024[15] - Total assets at the end of Q3 2025 were $1,011,184,000, compared to $1,029,224,000 at the end of Q2 2025 and $990,143,000 at the end of Q3 2024[25] - Total deposits were $917.3 million at September 30, 2025, compared to $939.9 million at June 30, 2025, and $901.7 million at September 30, 2024[15] - Total deposits at the end of Q3 2025 were $917,266,000, an increase from $939,851,000 in Q2 2025 and $901,724,000 in Q3 2024[25] Dividends and Equity - The Company paid cash dividends of $0.27 per share in Q3 2025, with stockholders' equity increasing to $89.6 million, or $25.65 per share, at September 30, 2025[18] - Noninterest expense for Q3 2025 was $5,806,000, slightly up from $5,702,000 in Q2 2025 and $5,500,000 in Q3 2024[24]