Auburn National Bancorporation, Inc. Reports Fourth Quarter and Full Year Results

AUBURN, Ala., Jan. 29, 2024 (GLOBE NEWSWIRE) -- Auburn National Bancorporation (NASDAQ:AUBN) reported a net loss of $4.0 million, or $1.14 per share, for the fourth quarter of 2023. The quarterly loss reflects the sale of $117.6 million of available-for-sale securities for an after-tax loss of $4.7 million or $1.36 per share. Proceeds of $111.3 million from the securities sale were used to repay high-cost wholesale funding and sell high-cost reciprocal deposits, with the remaining amounts held in cash to fu ...