2016 Q2 Form 10-Q Financial Statement

#000119312516569465 Filed on April 29, 2016

View on sec.gov

Income Statement

Concept 2016 Q2 2016 Q1 2015 Q1
Revenue $6.726M $6.745M $6.736M
YoY Change -2.11% 0.13% 1.52%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $290.0K $250.0K $240.0K
YoY Change -6.45% 4.17% 33.33%
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit
YoY Change
Interest Expense $1.034M $1.048M $1.213M
YoY Change -4.52% -13.6% -11.14%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $2.664M $3.022M $2.530M
YoY Change -8.95% 19.45% 2.1%
Income Tax $733.0K $831.0K $668.0K
% Of Pretax Income 27.52% 27.5% 26.4%
Net Earnings $1.931M $2.191M $1.862M
YoY Change -10.19% 17.67% 2.25%
Net Earnings / Revenue 28.71% 32.48% 27.64%
Basic Earnings Per Share
Diluted Earnings Per Share $530.2K $601.6K $511.0K
COMMON SHARES
Basic Shares Outstanding 3.644M shares 3.643M shares 3.643M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q2 2016 Q1 2015 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $11.70M $11.80M $10.90M
YoY Change 6.36% 8.26% 5.36%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $846.1M $833.3M $790.2M
YoY Change 4.95% 5.45% 2.18%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $3.900M $3.400M $2.800M
YoY Change 25.81% 21.43% 12.0%
Deferred Revenue
YoY Change
Short-Term Debt $2.600M $2.500M $4.300M
YoY Change -10.34% -41.86% 30.3%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.900M $3.400M $2.800M
YoY Change 25.81% 21.43% 12.0%
LONG-TERM LIABILITIES
Long-Term Debt $7.200M $7.200M $7.200M
YoY Change 0.0% 0.0% -40.98%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $7.200M $7.200M $7.200M
YoY Change 0.0% 0.0% -40.98%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.900M $3.400M $2.800M
Total Long-Term Liabilities $7.200M $7.200M $7.200M
Total Liabilities $761.2M $750.4M $712.7M
YoY Change 4.39% 5.29% 1.09%
SHAREHOLDERS EQUITY
Retained Earnings $83.33M
YoY Change
Common Stock $3.806M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $6.638M
YoY Change
Treasury Stock Shares 313.6K shares 313.6K shares 313.8K shares
Shareholders Equity $84.80M $82.90M $77.50M
YoY Change
Total Liabilities & Shareholders Equity $846.1M $833.3M $790.2M
YoY Change 4.94% 5.45% 2.19%

Cashflow Statement

Concept 2016 Q2 2016 Q1 2015 Q1
OPERATING ACTIVITIES
Net Income $1.931M $2.191M $1.862M
YoY Change -10.19% 17.67% 2.25%
Depreciation, Depletion And Amortization $290.0K $250.0K $240.0K
YoY Change -6.45% 4.17% 33.33%
Cash From Operating Activities $3.080M $1.331M $776.0K
YoY Change 29.41% 71.52% -78.31%
INVESTING ACTIVITIES
Capital Expenditures -$50.00K -$10.00K -$230.0K
YoY Change -73.68% -95.65%
Acquisitions
YoY Change
Other Investing Activities $18.96M $5.280M $13.27M
YoY Change -467.44% -60.21% 719.14%
Cash From Investing Activities $18.91M $5.280M $13.04M
YoY Change -454.12% -59.51% 706.93%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $0.00 $5.362M
YoY Change -100.0%
Cash From Financing Activities 9.450M 12.45M -1.550M
YoY Change -38.72% -903.23% -108.93%
NET CHANGE
Cash From Operating Activities 3.080M $1.331M $776.0K
Cash From Investing Activities 18.91M 5.280M 13.04M
Cash From Financing Activities 9.450M 12.45M -1.550M
Net Change In Cash 31.44M $1.331M $776.0K
YoY Change 152.33% 71.52% -96.56%
FREE CASH FLOW
Cash From Operating Activities $3.080M $1.331M $776.0K
Capital Expenditures -$50.00K -$10.00K -$230.0K
Free Cash Flow $3.130M $1.341M $1.006M
YoY Change 21.79% 33.3% -71.88%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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3022000 USD
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2530000 USD
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668000 USD
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1566000 USD
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OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
686000 USD
CY2016Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
0 USD
CY2015Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
2000 USD
CY2016Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
3757000 USD
CY2015Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
2546000 USD
CY2016Q1 aubn Basic And Diluted Weighted Average Shares Outstanding
BasicAndDilutedWeightedAverageSharesOutstanding
3643484 shares
CY2015Q1 aubn Basic And Diluted Weighted Average Shares Outstanding
BasicAndDilutedWeightedAverageSharesOutstanding
3643365 shares
CY2016Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.6
CY2015Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.51
CY2016Q1 us-gaap Available For Sale Securities Gross Realized Gains
AvailableForSaleSecuritiesGrossRealizedGains
0 USD
CY2015Q1 us-gaap Available For Sale Securities Gross Realized Gains
AvailableForSaleSecuritiesGrossRealizedGains
3000 USD
CY2016Q1 us-gaap Available For Sale Securities Gross Realized Gain Loss Net
AvailableForSaleSecuritiesGrossRealizedGainLossNet
0 USD
CY2015Q1 us-gaap Available For Sale Securities Gross Realized Gain Loss Net
AvailableForSaleSecuritiesGrossRealizedGainLossNet
3000 USD
CY2016Q1 us-gaap Cash Cash Equivalents And Federal Funds Sold
CashCashEquivalentsAndFederalFundsSold
132987000 USD
CY2015Q4 us-gaap Cash Cash Equivalents And Federal Funds Sold
CashCashEquivalentsAndFederalFundsSold
113930000 USD
CY2015Q1 us-gaap Cash Cash Equivalents And Federal Funds Sold
CashCashEquivalentsAndFederalFundsSold
95773000 USD
CY2014Q4 us-gaap Cash Cash Equivalents And Federal Funds Sold
CashCashEquivalentsAndFederalFundsSold
83503000 USD
CY2014Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
75799000 USD
CY2015Q1 us-gaap Profit Loss
ProfitLoss
1862000 USD
CY2015Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
684000 USD
CY2016Q1 us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
144000 USD
CY2016Q1 aubn Financing Receivable Allowance For Credit Losses Net Chargeoffs Recoveries
FinancingReceivableAllowanceForCreditLossesNetChargeoffsRecoveries
1085000 USD
CY2016Q1 us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
-600000 USD
CY2015Q1 us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
135000 USD
CY2015Q1 us-gaap Financing Receivable Allowance For Credit Losses Recovery
FinancingReceivableAllowanceForCreditLossesRecovery
21000 USD
CY2015Q1 aubn Financing Receivable Allowance For Credit Losses Net Chargeoffs Recoveries
FinancingReceivableAllowanceForCreditLossesNetChargeoffsRecoveries
-114000 USD
CY2015Q1 us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
0 USD
CY2014Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
4836000 USD
CY2015Q1 us-gaap Impaired Financing Receivable Average Recorded Investment
ImpairedFinancingReceivableAverageRecordedInvestment
3277000 USD
CY2015Q1 us-gaap Impaired Financing Receivable Interest Income Accrual Method
ImpairedFinancingReceivableInterestIncomeAccrualMethod
38000 USD
CY2016Q1 dei Document Type
DocumentType
10-Q
CY2016Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2016
CY2016Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2016Q1 dei Document Period End Date
DocumentPeriodEndDate
2016-03-31
CY2016Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2016Q1 dei Entity Central Index Key
EntityCentralIndexKey
0000750574
CY2016Q1 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2016Q1 dei Entity Filer Category
EntityFilerCategory
Smaller Reporting Company
CY2016Q1 dei Entity Registrant Name
EntityRegistrantName
Auburn National Bancorporation, Inc
CY2016Q1 dei Trading Symbol
TradingSymbol
AUBN
CY2016Q1 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2016Q1 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No
CY2016Q1 us-gaap Profit Loss
ProfitLoss
2191000 USD
CY2016Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
1566000 USD
CY2016Q1 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
-820000 USD
CY2016Q1 us-gaap Stock Issued During Period Value Treasury Stock Reissued
StockIssuedDuringPeriodValueTreasuryStockReissued
1000 USD
CY2015Q1 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
-802000 USD
CY2015Q1 us-gaap Stock Issued During Period Value Treasury Stock Reissued
StockIssuedDuringPeriodValueTreasuryStockReissued
1000 USD
CY2016Q1 us-gaap Stock Issued During Period Shares Treasury Stock Reissued
StockIssuedDuringPeriodSharesTreasuryStockReissued
25 shares
CY2015Q1 us-gaap Stock Issued During Period Shares Treasury Stock Reissued
StockIssuedDuringPeriodSharesTreasuryStockReissued
50 shares
CY2016Q1 us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
-600000 USD
CY2016Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
248000 USD
CY2015Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
242000 USD
CY2016Q1 us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
-335000 USD
CY2016Q1 us-gaap Gain Loss On Investments
GainLossOnInvestments
0 USD
CY2016Q1 us-gaap Gain Loss On Sale Of Mortgage Loans
GainLossOnSaleOfMortgageLoans
97000 USD
CY2016Q1 us-gaap Valuation Allowance For Impairment Of Recognized Servicing Assets Provisions Recoveries
ValuationAllowanceForImpairmentOfRecognizedServicingAssetsProvisionsRecoveries
0 USD
CY2015Q1 us-gaap Valuation Allowance For Impairment Of Recognized Servicing Assets Provisions Recoveries
ValuationAllowanceForImpairmentOfRecognizedServicingAssetsProvisionsRecoveries
10000 USD
CY2016Q1 aubn Net Loss Gain On Other Real Estate
NetLossGainOnOtherRealEstate
-5000 USD
CY2015Q1 aubn Net Loss Gain On Other Real Estate
NetLossGainOnOtherRealEstate
-5000 USD
CY2016Q1 us-gaap Payments Of Debt Extinguishment Costs
PaymentsOfDebtExtinguishmentCosts
0 USD
CY2015Q1 us-gaap Payments Of Debt Extinguishment Costs
PaymentsOfDebtExtinguishmentCosts
-362000 USD
CY2016Q1 us-gaap Payments For Origination Of Mortgage Loans Held For Sale
PaymentsForOriginationOfMortgageLoansHeldForSale
7671000 USD
CY2015Q1 us-gaap Payments For Origination Of Mortgage Loans Held For Sale
PaymentsForOriginationOfMortgageLoansHeldForSale
19148000 USD
CY2016Q1 us-gaap Proceeds From Sale Of Mortgage Loans Held For Sale
ProceedsFromSaleOfMortgageLoansHeldForSale
6925000 USD
CY2015Q1 us-gaap Proceeds From Sale Of Mortgage Loans Held For Sale
ProceedsFromSaleOfMortgageLoansHeldForSale
17720000 USD
CY2016Q1 us-gaap Life Insurance Corporate Or Bank Owned Change In Value
LifeInsuranceCorporateOrBankOwnedChangeInValue
112000 USD
CY2015Q1 us-gaap Life Insurance Corporate Or Bank Owned Change In Value
LifeInsuranceCorporateOrBankOwnedChangeInValue
125000 USD
CY2016Q1 us-gaap Proceeds From Life Insurance Policies
ProceedsFromLifeInsurancePolicies
0 USD
CY2015Q1 us-gaap Proceeds From Life Insurance Policies
ProceedsFromLifeInsurancePolicies
276000 USD
CY2016Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-176000 USD
CY2015Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-365000 USD
CY2016Q1 us-gaap Increase Decrease In Operating Liabilities
IncreaseDecreaseInOperatingLiabilities
-69000 USD
CY2015Q1 us-gaap Increase Decrease In Operating Liabilities
IncreaseDecreaseInOperatingLiabilities
-365000 USD
CY2016Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
1331000 USD
CY2015Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
776000 USD
CY2016Q1 us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
0 USD
CY2015Q1 us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
0 USD
CY2016Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
10848000 USD
CY2015Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
7760000 USD
CY2016Q1 us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
1123000 USD
CY2015Q1 us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
1596000 USD
CY2016Q1 us-gaap Payments For Proceeds From Loans And Leases
PaymentsForProceedsFromLoansAndLeases
4468000 USD
CY2015Q1 us-gaap Payments For Proceeds From Loans And Leases
PaymentsForProceedsFromLoansAndLeases
-6227000 USD
CY2016Q1 us-gaap Payments For Proceeds From Productive Assets
PaymentsForProceedsFromProductiveAssets
7000 USD
CY2015Q1 us-gaap Payments For Proceeds From Productive Assets
PaymentsForProceedsFromProductiveAssets
230000 USD
CY2016Q1 aubn Proceeds From Bank Owned Life Insurance Death Benefit
ProceedsFromBankOwnedLifeInsuranceDeathBenefit
0 USD
CY2015Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.22
CY2015Q1 aubn Proceeds From Bank Owned Life Insurance Death Benefit
ProceedsFromBankOwnedLifeInsuranceDeathBenefit
662000 USD
CY2016Q1 us-gaap Payments For Proceeds From Federal Home Loan Bank Stock
PaymentsForProceedsFromFederalHomeLoanBankStock
25000 USD
CY2015Q1 us-gaap Payments For Proceeds From Federal Home Loan Bank Stock
PaymentsForProceedsFromFederalHomeLoanBankStock
-191000 USD
CY2016Q1 us-gaap Proceeds From Sale Of Foreclosed Assets
ProceedsFromSaleOfForeclosedAssets
50000 USD
CY2015Q1 us-gaap Proceeds From Sale Of Foreclosed Assets
ProceedsFromSaleOfForeclosedAssets
30000 USD
CY2016Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
5275000 USD
CY2015Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
13044000 USD
CY2016Q1 us-gaap Net Change Noninterest Bearing Deposits Domestic
NetChangeNoninterestBearingDepositsDomestic
15826000 USD
CY2015Q1 us-gaap Net Change Noninterest Bearing Deposits Domestic
NetChangeNoninterestBearingDepositsDomestic
11416000 USD
CY2016Q1 us-gaap Net Change Interest Bearing Deposits Domestic
NetChangeInterestBearingDepositsDomestic
-2092000 USD
CY2015Q1 us-gaap Net Change Interest Bearing Deposits Domestic
NetChangeInterestBearingDepositsDomestic
-6470000 USD
CY2016Q1 us-gaap Proceeds From Payments For Federal Funds Sold And Securities Purchased Under Agreements To Resell Net
ProceedsFromPaymentsForFederalFundsSoldAndSecuritiesPurchasedUnderAgreementsToResellNet
-463000 USD
CY2015Q1 us-gaap Proceeds From Payments For Federal Funds Sold And Securities Purchased Under Agreements To Resell Net
ProceedsFromPaymentsForFederalFundsSoldAndSecuritiesPurchasedUnderAgreementsToResellNet
-332000 USD
CY2016Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
0 USD
CY2015Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
5362000 USD
CY2016Q1 us-gaap Payments Of Ordinary Dividends
PaymentsOfOrdinaryDividends
820000 USD
CY2015Q1 us-gaap Payments Of Ordinary Dividends
PaymentsOfOrdinaryDividends
802000 USD
CY2016Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
12451000 USD
CY2015Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-1550000 USD
CY2016Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
19057000 USD
CY2015Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
12270000 USD
CY2015Q1 us-gaap Interest Paid
InterestPaid
1360000 USD
CY2015Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
391000 USD
CY2015Q1 us-gaap Transfer Of Other Real Estate
TransferOfOtherRealEstate
0 USD
CY2016Q1 us-gaap Interest Paid
InterestPaid
1097000 USD
CY2016Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
403000 USD
CY2016Q1 us-gaap Transfer Of Other Real Estate
TransferOfOtherRealEstate
200000 USD
CY2016Q1 us-gaap Nature Of Operations
NatureOfOperations
<div><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:36pt;' >Auburn National Bancorporation, Inc. (the &#8220;Company&#8221;) provides a full range of </font><font style='font-family:Times New Roman;font-size:10pt;' >banking services to individual and corporate customers in Lee County, Alabama and surrounding counties through its wholly owned subsidiary, </font><font style='font-family:Times New Roman;font-size:10pt;' >AuburnBank</font><font style='font-family:Times New Roman;font-size:10pt;' > (the &#8220;Bank&#8221;). The Company does not have any segments other than banking that are considered material.</font></p><p style='text-align:justify;line-height:12pt;' ></p><p style='text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ></p></div>
CY2016Q1 us-gaap Basis Of Accounting
BasisOfAccounting
<div><p style='text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Ba</font><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;' >sis of Presentation and Use of Estimates</font></p><p style='text-align:justify;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:36pt;' >The unaudited consolidated financial statements in this report have been prepared in accordance with U.S. generally accepted accounting principles</font><font style='font-family:Times New Roman;font-size:10pt;' > (&#8220;GAAP&#8221;)</font><font style='font-family:Times New Roman;font-size:10pt;' > for interim financial information. Accordingly, these fin</font><font style='font-family:Times New Roman;font-size:10pt;' >ancial statements do not include all of the information and footnotes required by U.S. </font><font style='font-family:Times New Roman;font-size:10pt;' >GAAP </font><font style='font-family:Times New Roman;font-size:10pt;' >for complete financial statements. The unaudited consolidated financial statements include, in the opinion of management, all adjustments necessary to present a fa</font><font style='font-family:Times New Roman;font-size:10pt;' >ir statement of the financial position and the results of operations for all periods presented. All such adjustments are of a normal recurring nature. The results of operations </font><font style='font-family:Times New Roman;font-size:10pt;' >in the interim statements </font><font style='font-family:Times New Roman;font-size:10pt;' >are not necessarily indicative of the results of oper</font><font style='font-family:Times New Roman;font-size:10pt;' >ations that the Company and its subsidiaries may achieve for future interim periods or the entire year. For further information, refer to the consolidated financial statements and footnotes included in the Company&#39;s </font><font style='font-family:Times New Roman;font-size:10pt;' >A</font><font style='font-family:Times New Roman;font-size:10pt;' >nnual </font><font style='font-family:Times New Roman;font-size:10pt;' >R</font><font style='font-family:Times New Roman;font-size:10pt;' >eport on Form 10-K for the year </font><font style='font-family:Times New Roman;font-size:10pt;' >ended </font><font style='font-family:Times New Roman;font-size:10pt;' >December 31,</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >2015</font><font style='font-family:Times New Roman;font-size:10pt;' >.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:36pt;' >The unaudited consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. Auburn National Bancorporation Capital Trust I is an affiliate of the Company and was included in these unaudite</font><font style='font-family:Times New Roman;font-size:10pt;' >d consolidated financial statements pursuant to the equity method of accounting. Significant intercompany transactions and accounts are eliminated in consolidation.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:36pt;' >The preparation of financial statements in conformity with U.S. GAAP requires management t</font><font style='font-family:Times New Roman;font-size:10pt;' >o make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities as of the balance sheet date and the reported amounts of revenues and expenses during the reporting period. Ac</font><font style='font-family:Times New Roman;font-size:10pt;' >tual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term include other-than-temporary impairment on investment securities, the determination of the allowance for loan losse</font><font style='font-family:Times New Roman;font-size:10pt;' >s, fair value of financial instruments, and the valuation of deferred tax assets and other real estate owned.</font></p><p style='text-align:left;line-height:12pt;' ></p></div>
CY2016Q1 us-gaap Use Of Estimates
UseOfEstimates
<div><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:36pt;' >The preparation of financial statements in conformity with U.S. GAAP requires management t</font><font style='font-family:Times New Roman;font-size:10pt;' >o make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities as of the balance sheet date and the reported amounts of revenues and expenses during the reporting period. Ac</font><font style='font-family:Times New Roman;font-size:10pt;' >tual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term include other-than-temporary impairment on investment securities, the determination of the allowance for loan losse</font><font style='font-family:Times New Roman;font-size:10pt;' >s, fair value of financial instruments, and the valuation of deferred tax assets and other real estate owned.</font></p><p style='text-align:left;line-height:12pt;' ></p></div>
CY2016Q1 aubn Trust Preferred Issuance Liability Recognized
TrustPreferredIssuanceLiabilityRecognized
7217000 USD
CY2016Q1 us-gaap Servicing Asset At Amortized Value Additions
ServicingAssetAtAmortizedValueAdditions
57000 USD
CY2015Q1 us-gaap Servicing Asset At Amortized Value Additions
ServicingAssetAtAmortizedValueAdditions
111000 USD
CY2016Q1 us-gaap Servicing Asset At Amortized Value Amortization1
ServicingAssetAtAmortizedValueAmortization1
-138000 USD
CY2015Q1 us-gaap Servicing Asset At Amortized Value Amortization1
ServicingAssetAtAmortizedValueAmortization1
-134000 USD
CY2016Q1 us-gaap Servicing Asset At Amortized Value Valuation Allowance
ServicingAssetAtAmortizedValueValuationAllowance
0 USD
CY2015Q1 us-gaap Servicing Asset At Amortized Value Valuation Allowance
ServicingAssetAtAmortizedValueValuationAllowance
-10000 USD
CY2016Q1 us-gaap Servicing Asset At Amortized Value
ServicingAssetAtAmortizedValue
2235000 USD
CY2016Q1 us-gaap Valuation Allowance For Impairment Of Recognized Servicing Assets Balance
ValuationAllowanceForImpairmentOfRecognizedServicingAssetsBalance
0 USD
CY2016Q1 us-gaap Servicing Asset At Amortized Value Fair Value
ServicingAssetAtAmortizedValueFairValue
2906000 USD
CY2015Q1 us-gaap Servicing Asset At Amortized Value
ServicingAssetAtAmortizedValue
2355000 USD
CY2015Q1 us-gaap Servicing Asset At Amortized Value Fair Value
ServicingAssetAtAmortizedValueFairValue
3066000 USD
CY2015Q4 us-gaap Servicing Asset At Amortized Value
ServicingAssetAtAmortizedValue
2316000 USD
CY2015Q4 us-gaap Valuation Allowance For Impairment Of Recognized Servicing Assets Balance
ValuationAllowanceForImpairmentOfRecognizedServicingAssetsBalance
0 USD
CY2015Q4 us-gaap Servicing Asset At Amortized Value Fair Value
ServicingAssetAtAmortizedValueFairValue
3086000 USD
CY2014Q4 us-gaap Valuation Allowance For Impairment Of Recognized Servicing Assets Balance
ValuationAllowanceForImpairmentOfRecognizedServicingAssetsBalance
53000 USD
CY2016Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.225
CY2016Q1 aubn Trust Preferred Securities Issued
TrustPreferredSecuritiesIssued
7000000 USD
CY2016Q1 us-gaap Junior Subordinated Notes
JuniorSubordinatedNotes
7200000 USD
CY2016Q1 aubn Equity Interest Anb Capital Trust
EquityInterestAnbCapitalTrust
200000 USD
CY2016Q1 us-gaap Available For Sale Securities Pledged As Collateral
AvailableForSaleSecuritiesPledgedAsCollateral
164400000 USD
CY2015Q4 us-gaap Available For Sale Securities Pledged As Collateral
AvailableForSaleSecuritiesPledgedAsCollateral
133300000 USD
CY2016Q1 us-gaap Cost Method Investments
CostMethodInvestments
1400000 USD
CY2015Q4 us-gaap Cost Method Investments
CostMethodInvestments
1400000 USD
CY2016Q1 aubn Percentage Of Loans Secured By Real Estate
PercentageOfLoansSecuredByRealEstate
0.861 pure
CY2015Q1 us-gaap Financing Receivable Modifications Pre Modification Recorded Investment2
FinancingReceivableModificationsPreModificationRecordedInvestment2
708000 USD
CY2015Q1 us-gaap Financing Receivable Modifications Post Modification Recorded Investment2
FinancingReceivableModificationsPostModificationRecordedInvestment2
705000 USD
CY2015Q1 us-gaap Financing Receivable Modifications Number Of Contracts2
FinancingReceivableModificationsNumberOfContracts2
2 pure
CY2015Q1 us-gaap Financing Receivable Modifications Subsequent Default Number Of Contracts1
FinancingReceivableModificationsSubsequentDefaultNumberOfContracts1
2 pure
CY2015Q1 us-gaap Financing Receivable Modifications Subsequent Default Recorded Investment1
FinancingReceivableModificationsSubsequentDefaultRecordedInvestment1
411000 USD

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