Auburn National Bancorporation, Inc. announced unaudited earnings results for the fourth quarter and full year ended December 31, 2015. For the fourth quarter of 2015, the company reported net earnings of $1.9 million, or $0.53 per basic and diluted share, compared to $1.9 million, or $0.52 per basic and diluted share, for the fourth quarter of 2014. Net interest income (tax-equivalent) was $6.1 million for the fourth quarter of 2015, an increase of 4% compared to the fourth quarter of 2014 net interest income of $5.813 million. This increase reflects management's continued efforts to increase earnings by shifting the company's asset mix through loan growth, focusing on deposit pricing, and repaying higher-cost wholesale funding. Total revenues were $6.725 million against $6.561 million a year ago. Net interest income was $0.988 million compared to $1.079 million a year ago. Book value per share was $21.94 compared to $20.80 a year ago. Return on average equity on GAAP basis (annualized) was 9.59% against 10.21% a year ago. Return on average assets on GAAP basis (annualized) was 0.95% against 0.98% a year ago. Operating return on average assets was 1.01% against 1.05% a year ago.

For the full year, the company reported record net earnings of $7.9 million, or $2.16 per basic and diluted share, compared to $7.4 million, or $2.04 per basic and diluted share, for the full year 2014. Total revenues were $27.250 million against $25.386 million a year ago. Net interest income was $22.718 million compared to $21.453 million a year ago. Book value per share was $21.94 compared to $20.80 a year ago. Return on average equity on GAAP basis (annualized) was 9.98% against 10.53% a year ago. Return on average assets on GAAP basis (annualized) was 0.98% against 0.97% a year ago. Operating return on average assets was 1.01% against 1.05% a year ago.

The company reported net charge-offs for the fourth quarter ended December 31, 2015. For the quarter, the company reported net charge-offs of $838,000 compared to $68,000 a year ago.