Auburn National Bancorporation Q3 profit rises on higher interest income
AUBN•Auburn National Bancorporation’s third-quarter EPS rose 13% year over year to $0.72, while net interest income grew 6% and net interest margin expanded to 3.36%. Net income was $2.52 million.
1. Quarterly results
The regional bank said higher yields on earning assets and a more favorable asset mix, including cash deployed into higher-yielding securities, helped expand its net interest margin. Loan balances declined, while asset quality and capital remained strong. The company said it was well positioned to support future growth but gave no specific financial guidance for upcoming quarters or the full year.
