Auburn National Bancorporation - Parent Company (Tables)

12 Months Ended

Dec. 31, 2018

CONDENSED BALANCE SHEETS
				December 31
(Dollars in thousands)	2018		2017
Assets:
Cash and due from banks	$	1,941		1,170
Investment in bank subsidiary		87,956		88,741
Other assets		626		1,760
Total assets	$	90,523		91,671

Liabilities:
Accrued expenses and other liabilities	$	1,468		1,548
Long-term debt		—		3,217
Total liabilities		1,468		4,765
Stockholders' equity		89,055		86,906
Total liabilities and stockholders' equity	$	90,523		91,671

CONDENSED STATEMENTS OF EARNINGS
		Year ended December 31
(Dollars in thousands)		2018		2017
Income:
Dividends from bank subsidiary		$	6,533		3,471
Noninterest income			149		141
	Total income		6,682		3,612
Expense:
Interest expense			51		125
Noninterest expense			237		225
	Total expense		288		350
Earnings before income tax benefit and equity
	in undistributed earnings of bank subsidiary		6,394		3,262
Income tax benefit			(28)		(58)
Earnings before equity in undistributed earnings
	of bank subsidiary		6,422		3,320
Equity in undistributed earnings of bank subsidiary			2,412		4,526

	Net earnings	$	8,834		7,846

CONDENSED STATEMENTS OF CASH FLOWS
						Year ended December 31
(Dollars in thousands)					2018		2017
Cash flows from operating activities:
	Net earnings				$	8,834	7,846
	Adjustments to reconcile net earnings to net cash
		provided by operating activities:
			Net decrease (increase) in other assets			1,134	(879)
			Net decrease in other liabilities			(70)	(109)
			Equity in undistributed earnings of bank subsidiary			(2,412)	(4,526)
				Net cash provided by operating activities		7,486	2,332


Cash flows from financing activities:
	Repayments or retirement of long-term debt					(3,217)	—
	Dividends paid					(3,498)	(3,352)
				Net cash used in financing activities		(6,715)	(3,352)

Net change in cash and cash equivalents						771	(1,020)
Cash and cash equivalents at beginning of period						1,170	2,190
Cash and cash equivalents at end of period					$	1,941	1,170