AUBURN NATIONAL BANCORPORATION, INC
For the period ended Jun 30, 2025. Filed Aug 12, 2025.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2025 · Filed Aug 12, 2025
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2025-03-31; filed 2025-05-02.
0001193125-25-111182
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsTable 1 – Explanation of Non-GAAP Financial MeasuresTable 2 – Selected Quarterly Financial DataCurrent report: 10-Q
Period ended 2025-06-30; filed 2025-08-12.
0001193125-25-178717
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsTable 1 – Explanation of Non-GAAP Financial MeasuresTable 2 – Selected Quarterly Financial DataThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 1222 previous paragraphs and 1248 current paragraphs.
838 unchanged; 199 reworded; 202 added; 177 removed; 8 previous and 9 current paragraphs rearranged.
Tables are not compared: 0 previous and 0 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (202)
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Reports on Form 10-Q.
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statements.
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without limitation:
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while supporting maximum employment;
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application and enforcement by the
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requirements, internal controls, and
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legislation such as the federal GENIUS Act on stablecoins signed into law on
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July 18, 2025, and the proposed
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CLARITY Act and the Anti-CBDC Surveillance Act bills being considered
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by Congress, more permissive
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and stable coins that creates
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banking industry,
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including the
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Company, relies on,
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on customers, other
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generally;
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vendors’ systems or customers’
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are less
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maintenance of capital, including a capital conservation buffer
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of 2.5% and to the amount of our future earnings
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million for the first six months of 2025, compared to $3.1 million
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for the first six
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compared to
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$0.89 per share for the first six months of 2024.
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income (tax-equivalent) was $14.4 million for the first six months
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of 2025, an 8% increase compared to $13.4
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million for the first six months of 2024.
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net interest
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(tax-equivalent) was 3.24%
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for the first six months of 2025 compared to 3.05% for the
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first six months of 2024.
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s
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See “Results of Operations – Average
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At June 30, 2025, the Company’s allowance
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million, or 1.24% of total loans, at June 30, 2024.
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$211 thousand during the first six months of 2024.
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and forecasts.
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including monetary,
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Noninterest income was $1.5 million in the first six months of 2025,
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compared to $1.8 million in the first six months of
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Removed paragraphs (177)
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d-looking statements.
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limitation:
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and supporting maximum employment;
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application by the regulators, including
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internal controls, and
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currency and stable coins
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including the Company,
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on
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financial system, generally;
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systems or customers’
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strategies are less
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maintenance of a capital conservation buffer of 2.5% and
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rolling four calendar quarter periods;
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(Dollars in thousands, except per share data)
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Net interest income (a)
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Less: tax-equivalent adjustment
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Total revenue
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See "Table 1 - Explanation
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of Non-GAAP Financial Measures."
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$1.5 million for the first quarter of 2025, compared to $1.4 million for the first
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quarter of
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to $0.39 per share
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income (tax-equivalent) was $7.1 million for the first quarter of
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The Company’s net interest margin
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(tax-equivalent) was 3.20% for the first
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quarter of 2025 compared to 3.04% for the first quarter of 2024.
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This increase was primarily due to a more favorable asset
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outpaced increases
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Average loans for
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the first quarter of 2025 were $566.3 million, a 1% increase from the first quarter of 2024.
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See
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“Results of Operations – Average
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At March 31, 2025, the Company’s
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million, or 1.27% of total loans, at March 31, 2024.
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during the first quarter of 2024.
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The provision for credit losses
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Our
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compared to $0.9 million in the first quarter of 2024.
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Noninterest expense was $5.9 million in the first quarter of 2025,
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compared to $5.7 million for the first quarter of 2024.
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Reworded paragraphs (199)
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notes for the quarters and quarters ended March 31, 2025 and 2024,
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notes for the quarters and six months ended June 30, 2025 and 2024,
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Report on Form 10-K for the year ended December 31, 2024.
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Report on Form 10-K for the year ended December 31, 2024 and our Quarterly
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achievements or financial condition expressed or implied by such forwar
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achievements or financial condition expressed or implied by such forward-looking
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statements may not be realized due to a variety of factors, including, without
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statements may not be realized due to a variety of factors, including,
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such spending, changes in monetary policies in response to inflation and changes
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such spending, changes in monetary policies in response to inflation
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in prices and unemployment,
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and changes in prices and unemployment,
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of securities through quantitative tightening or easing; and the duration that the
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of securities through quantitative tightening or easing; and the duration that
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Federal Reserve will keep its
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the Federal Reserve will keep its
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leadership and personnel, including reductions in the number and
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leadership and personnel, including reductions in the number and experience
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experience of personnel, at the bank and
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of personnel, at the bank and
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on changes in regulations and interpretations, numerous new Executive Orders,
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on changes in regulations and interpretations, numerous new Executive
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and the uncertain effects of all
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Orders, and the uncertain effects of all
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capital and liquidity requirements, and changes in the scope and cost of FDIC insurance;
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the scope and cost of FDIC insurance;
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market and credit conditions, including changes in borrowers’ credit risks and
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market and credit conditions, including changes in borrowers’ credit
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payment behaviors from those used
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risks and payment behaviors from those used
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who are not subject to the same regulation, including capital and liquidity requirements,
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who are not subject to the same regulation, including capital and liquidity
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more permissive regulation and/or enforcement regarding digital assets, such as cyber
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regulation and/or enforcement regarding digital assets, such as cyber currency
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that creates additional competition to banks, and greater risks to the
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additional competition to banks, and greater risks to the payment systems that the
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relies on, and greater risks of fraud and theft of digital assets and their effects
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and greater risks of fraud and theft of digital assets and their effects
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customers, other financial institutions, including our counterparties, financial
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financial institutions, including our counterparties, financial stability
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stability and confidence in the
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and confidence in the financial system,
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implementing such transactions, integrating operations as part of
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implementing such transactions, integrating operations as part of these
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these transactions and possible failures to achieve
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transactions and possible failures to achieve
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cyber-attacks and data breaches that may compromise our systems, our vendors’
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cyber-attacks and data breaches that may compromise our systems, our
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if estimates of future taxable income from our operations and tax planning
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if estimates of future taxable income from our operations and tax planning strategies
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bonuses are limited by regulation to the
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bonuses are limited by regulation requiring the
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our future earnings and “eligible retained earnings” over
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and “eligible retained earnings” over rolling four calendar quarter periods;
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looking statements after the date of this report, or after the respective dates on which
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looking statements after the date of this report, or after the respective dates on
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such statements otherwise are made.
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which such statements otherwise are made.
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The Company’s net earnings were
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The Company’s net earnings were $3.4
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Basic and diluted earnings per share were $0.44 per share for the first quarter of 2025, compared
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Basic and diluted earnings per share were $0.96 per share for the first six months of 2025,
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net interest margin and an
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margin and an increase in average interest-earning assets.
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mix and improvements in our yields on interest-earning assets, which
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improvements in our yields on interest-earning assets, which outpaced increase
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in the cost of our interest-bearing
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in the cost of our interest-bearing deposits.
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allowance for credit losses was $6.8 million, or 1.20% of total loans, compared to
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for credit losses was $7.0 million, or 1.24% of total loans, compared to $6.9
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million, or 1.22% of total loans, at December 31, 2024, and $7.2
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million, or 1.22% of total loans, at December 31, 2024, and $7.1
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The Company recorded a negative provision for credit losses during the
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The Company recorded a provision for credit losses during the first six months
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first quarter of 2025 of $10 thousand, compared to
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of 2025 of $103 thousand, compared to
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under CECL reflects the Company’s
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The provision for credit losses under CECL reflects the Company’s
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evaluation of its credit risk profile and its future economic outlook and forecasts.
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evaluation of its credit risk profile and its future economic outlook
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Rearranged current paragraphs (9)
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regulators, including capital and liquidity requirements, and changes in
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See "Table 1 - Explanation of Non-GAAP Financial Measures."
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This increase was primarily due to
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margin and an increase in average interest-earning assets.
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This increase was primarily due to
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the cost of our interest-bearing deposits.
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deposits sold through the Intrafi network.
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into account a wide range of information, including readings on labor market
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inflation pressures and inflation expectations, and financial and international
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payment systems that the banking industry,
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2025, a 6% increase compared to $6.7 million
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increase in average interest-earning assets.
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be affected by government policies, including monetary,
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to be “well capitalized” under current regulatory
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fiscal and other policies, including tariffs.
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This decrease reflects a $6.2 million decrease in the amortized cost basis of securities
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The average rate paid on the Bank’s short