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Variable Interest Entities | 9 Months Ended
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Sep. 30, 2014
Variable interest entity [Abstract] |
Variable interest entity [Text Block] | NOTE 3: VARIABLE INTEREST ENTITIES Generally, a variable interest entity (“VIE”) is a corporation, partnership, trust or other legal structure that does not have equity investors with substantive or proportional voting rights or has equity investors that do not provide sufficient financial resources for the entity to support its activities. At September 30, 2014, the Company did not have any consolidated VIEs to disclose but did have one nonconsolidated VIE, discussed below. Tr ust Preferred Securities The Company owns the common stock of a subsidiary business trust, Auburn National Bancorporation Capital Trust I, which issued mandatorily redeemable preferred capital securities (“trust preferred securities”) in the aggregate o f approximately $7.0 million at the time of issuance. This trust meets the definition of a VIE of which the Company is not the primary beneficiary; the trust’s only assets are junior subordinated debentures issued by the Company, which were acquired by the trust using the proceeds from the issuance of the trust preferred securities and common stock. The junior subordinated debentures of approximately $7.2 million are included in long-term debt and the Company’s equity interest of $0.2 million in the busines s trust is included in other assets. Interest expense on the junior subordinated debentures is included in interest expense on long-term debt. The following table summarizes VIEs that are not consolidated by the Company as of September 30, 2014.
|  | Maximum |  |  | Liability |  |
(Dollars in thousands) |  | Loss Exposure |  |  | Recognized |  | Classification
Type: |  |  |  |  |  |  |
Trust preferred issuances |  | N/A |  |  | $ 7,217 |  | Long-term debt

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