Auburn National Bancorporation, Inc. is a bank holding company. It engages in the provision of banking services to commercial and retail customers. The company operates through the following segments: commercial and industrial; construction and land development; commercial real estate; residential real estate and consumer installment. The Commercial and industrial segment includes loans to finance business operations, equipment purchases, or other needs for small and medium-sized commercial customers. The Construction and land development segment includes both loans and credit lines for the purpose of purchasing, carrying and developing land into commercial developments or residential subdivisions. The Commercial and industrial segment includes loans disaggregated into three classes: owner occupied, multi-family and other. The Residential real estate segment includes consumer mortgage and investment property. The Consumer installment segment includes loans to individuals both secured by personal property and unsecured. The company was founded in 1990 and is headquartered in Auburn, AL.
Net interest income(tax-equivalent) was $6.3 million for the first quarter of 2020 compared to $6.8 million for the first quarter of 2019. This decrease was due to a decline in the Company’s net interest margin(tax-equivalent).