Auburn National Bancorporation Authorizes Stock Repurchase Program

Core Viewpoint - Auburn National Bancorporation, Inc. has announced a new stock repurchase program authorizing the repurchase of up to $5 million of its common stock, following the expiration of the previous program on April 15, 2024 [1] Group 1: Stock Repurchase Program - The new stock repurchase program allows for the repurchase of shares until the earliest of the expenditure of $5 million, termination or replacement of the plan, or March 15, 2027 [1] - The company may engage in various types of repurchases, including open-market purchases, private purchases, negotiated transactions, and block purchases [1] - The company is not obligated to acquire a specific number of shares and can suspend or terminate repurchases at any time [2] Group 2: Company Overview - Auburn National Bancorporation, Inc. is the parent company of AuburnBank, with total assets of approximately $1.0 billion [3] - AuburnBank is an Alabama state-chartered bank that has been operating since 1907 and is a member of the Federal Reserve System [3] - The bank primarily conducts business in East Alabama, operating seven full-service branches and a loan production office [3]