Auburn National Bancorporation, Inc. Reports Unaudited Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2012; Reports Net Charge-Offs for the Fourth Quarter Ended December 31, 2012
January 29, 2013 at 07:30 am EST
Share
Auburn National Bancorporation, Inc. reported unaudited earnings results for the fourth quarter and full year ended December 31, 2012. For the quarter, the company reported GAAP net interest income was $5,325,000 against $4,509,000 a year ago. Total revenue was $7,113,000 against $5,790,000 a year ago. Net earnings were $1,660,000 against $1,165,000 a year ago. EPS basic and diluted was $0.46 against $0.32 a year ago. GAAP return on average equity was 9.30% against 7.15% a year ago. GAAP return on average assets was 0.88% against 0.61% a year ago. Operating return on average equity was 9.55% against 9.03% a year ago. Operating return on average assets was 0.90% against 0.77% a year ago. Operating net interest income was $5,721,000 against $4,924,000 a year ago. Operating EPS basic and diluted was $0.47 against $0.40 a year ago. Operating net earnings was $1,705,000 against $1,471,000 a year ago. Total operating revenue (tax-equivalent) was $7,439,000 against $6,070,000 a year ago. Net interest income (tax-equivalent) increased 16% primarily reflected improvement in the company's net interest margin and cost of funds, as average total interest-earning assets were mostly unchanged.
For the full year, the company reported GAAP net interest income of $20,897,000 against $19,225,000 a year ago. Total revenue was $31,380,000 against $24,402,000 a year ago. Net earnings were $6,763,000 against $5,538,000 a year ago. EPS basic and diluted was $1.86 against $1.72 a year ago. Return on average equity was 9.85% against 9.10% a year ago. Return on average assets was 0.90% against 0.72% a year ago. Operating return on average equity was 9.94% against 10.27% a year ago. Operating return on average assets was 0.90% against 0.81% a year ago. Operating net interest income was $22,539,000 against $20,944,000 a year ago. Operating EPS basic and diluted was $1.87 against $1.72 a year ago. Operating net earnings was $6,823,000 against $6,249,000 a year ago. Total operating revenue (tax-equivalent) was $29,075,000 against $25,243,000 a year ago.
For the fourth quarter ended December 31, 2012, the company reported net charge-offs of $387,000 against $71,000 a year ago.
Auburn National Bancorporation, Inc. is a bank holding company. The Companyâs business is conducted primarily through AuburnBank (the Bank) and its subsidiaries. The Bank offers checking, savings, transaction deposit accounts and certificates of deposit, and is an active residential mortgage lender in its primary service area. The Bankâs primary service area includes the cities of Auburn and Opelika, Alabama and nearby surrounding areas in East Alabama, primarily in Lee County. The Bank also offers commercial, financial, agricultural, real estate construction and consumer loan products and other financial services. The Bank also provides automated teller machine (ATM) services in East Alabama and operates ATMs in 12 locations in its primary service area. The Bankâs Visa Check cards can be used internationally through the Plus network. The Bank offers online banking, bill payment and other electronic banking services through its Internet Website, www.auburnbank.com.
Auburn National Bancorporation, Inc. Reports Unaudited Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2012; Reports Net Charge-Offs for the Fourth Quarter Ended December 31, 2012