Auburn National Bancorporation - Parent Company (Tables)

12 Months Ended

Dec. 31, 2019

CONDENSED BALANCE SHEETS
				December 31
(Dollars in thousands)	2019		2018
Assets:
Cash and due from banks	$	4,119		1,941
Investment in bank subsidiary		94,837		87,956
Other assets		625		626
Total assets	$	99,581		90,523

Liabilities:
Accrued expenses and other liabilities	$	1,253		1,468
Total liabilities		1,253		1,468
Stockholders' equity		98,328		89,055
Total liabilities and stockholders' equity	$	99,581		90,523

CONDENSED STATEMENTS OF EARNINGS
		Year ended December 31
(Dollars in thousands)		2019		2018
Income:
Dividends from bank subsidiary		$	8,574		6,533
Noninterest income			346		149
	Total income		8,920		6,682
Expense:
Interest expense			—		51
Noninterest expense			212		237
	Total expense		212		288
Earnings before income tax expense (benefit) and equity
	in undistributed earnings of bank subsidiary		8,708		6,394
Income tax expense (benefit)			26		(28)
Earnings before equity in undistributed earnings
	of bank subsidiary		8,682		6,422
Equity in undistributed earnings of bank subsidiary			1,059		2,412

	Net earnings	$	9,741		8,834

CONDENSED STATEMENTS OF CASH FLOWS
						Year ended December 31
(Dollars in thousands)					2019		2018
Cash flows from operating activities:
	Net earnings				$	9,741	8,834
	Adjustments to reconcile net earnings to net cash
		provided by operating activities:
			Net decrease in other assets			7	1,134
			Net decrease in other liabilities			(215)	(70)
			Equity in undistributed earnings of bank subsidiary			(1,059)	(2,412)
				Net cash provided by operating activities		8,474	7,486


Cash flows from financing activities:
	Repayments or retirement of long-term debt					—	(3,217)
	Dividends paid					(3,575)	(3,498)
	Stock repurchases					(2,721)	—
				Net cash used in financing activities		(6,296)	(6,715)

Net change in cash and cash equivalents						2,178	771
Cash and cash equivalents at beginning of period						1,941	1,170
Cash and cash equivalents at end of period					$	4,119	1,941