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Auburn National Bancorporation - Parent Company Financials
 12 Months Ended
Dec. 31, 2022
Condensed Financial Information of Parent Company Only Disclosure [Abstract]  
Condensed Financial Information of Parent Company Only Disclosure [Text Block]
NOTE 17: AUBURN NATIONAL
 
BANCORPORATION
 
(PARENT COMPANY)
The Parent Company’s condensed balance sheets
 
and related condensed statements of earnings and cash flows are as
follows.
CONDENSED BALANCE SHEETS
December 31
(Dollars in thousands)
2022
2021
Assets:
Cash and due from banks
$
1,700
2,705
Investment in bank subsidiary
65,967
100,951
Other assets
522
630
Total assets
$
68,189
104,286
Liabilities:
Accrued expenses and other liabilities
$
148
560
Total liabilities
148
560
Stockholders' equity
68,041
103,726
Total liabilities and stockholders'
 
equity
$
68,189
104,286
CONDENSED STATEMENTS
 
OF EARNINGS
Year ended December 31
(Dollars in thousands)
2022
2021
Income:
Dividends from bank subsidiary
$
3,719
3,682
Noninterest income
78
665
Total income
3,797
4,347
Expense:
Noninterest expense
326
189
Total expense
326
189
Earnings before income tax expense and equity
in undistributed earnings of bank subsidiary
3,471
4,158
Income tax (benefit) expense
(48)
82
Earnings before equity in undistributed earnings
of bank subsidiary
3,519
4,076
Equity in undistributed earnings of bank subsidiary
6,827
3,963
Net earnings
$
10,346
8,039
CONDENSED STATEMENTS
 
OF CASH FLOWS
Year ended December 31
(Dollars in thousands)
2022
2021
Cash flows from operating activities:
Net earnings
$
10,346
8,039
Adjustments to reconcile net earnings to net cash
provided by operating activities:
Net decrease in other assets
108
1
Net decrease in other liabilities
(408)
(120)
Equity in undistributed earnings of bank subsidiary
(6,827)
(3,963)
Net cash provided by operating activities
3,219
3,957
Cash flows from financing activities:
Dividends paid
(3,720)
(3,682)
Stock repurchases
(504)
(1,619)
Net cash used in financing activities
(4,224)
(5,301)
Net change in cash and cash equivalents
(1,005)
(1,344)
Cash and cash equivalents at beginning of period
2,705
4,049
Cash and cash equivalents at end of period
$
1,700
2,705