AUBURN NATIONAL BANCORPORATION, INC

Consolidated Balance Sheets (Unaudited) as of March 31, 2025 and December 31, 2024

Consolidated Statements of Earnings (Unaudited) for the quarters ended March 31, 2025 and 2024

Consolidated Statements of Comprehensive Income (Loss) (Unaudited) for the quarters ended March

31, 2025 and 2024

Consolidated Statements of Stockholders’ Equity (Unaudited) for the quarters ended March 31, 2025

and 2024

Consolidated Statements of Cash Flows (Unaudited) for the quarters ended March 31, 2025 and 2024

Notes to Consolidated Financial Statements (Unaudited

)

Management’s Discussion and Analysis of Financial Condition and Results of Operations

Table 1 – Explanation of Non-GAAP Financial Measures

Table 2 – Selected Quarterly Financial Data

Table 3 – Average Balances and Net Interest Income Analysis for the quarters ended March 31, 2025

and 2024

Quantitative and Qualitative Disclosures About Market Risk

Controls and Procedures

PART II. OTHER INFORMATION

Legal Proceedings

Risk Factors

Unregistered Sales of Equity Securities and Use of Proceeds

Defaults Upon Senior Securities

Mine Safety Disclosures

Other Information

Exhibits

PART

FINANCIAL INFORMATION

Consolidated Balance Sheets

(Dollars in thousands, except share data)

Assets:

Cash and due from banks

$

22,179

$

15,142

30,123

37,200

Interest-bearing bank deposits

66,354

41,012

Cash and cash equivalents

118,656

93,354

242,468

243,012

—

Loans

560,650

564,017

Allowance for credit losses

(6,750)

(6,871)

553,900

557,146

Premises and equipment, net

45,673

45,931

17,618

17,513

18,181

20,368

$

996,786

$

977,324

Liabilities:

Noninterest-bearing

$

271,749

$

260,874

Interest-bearing

638,754

634,950

910,503

895,824

Accrued expenses and other liabilities

3,168

3,208

Total liabilities

913,671

899,032

Stockholders' equity:

Preferred stock of $

.01

par value; authorized

200,000

shares;

no shares issued

—

—

Common stock of $

.01

par value; authorized

8,500,000

shares;

issued

3,957,135

shares

Additional paid-in capital

3,802

3,802

Retained earnings

116,346

115,759

Accumulated other comprehensive loss, net

(25,371)

(29,607)

Less treasury stock, at cost -

463,436

shares at both March 31, 2025

and December 31, 2024, respectively

Total stockholders’

equity

83,115

78,292

Total liabilities and stockholders’

equity

$

996,786

$

977,324