AUBURN NATIONAL BANCORPORATION, INC
For the period ended Sep 30, 2025. Filed Nov 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.
Sep 30, 2025 · Filed Nov 12, 2025
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious 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 DataCurrent report: 10-Q
Period ended 2025-09-30; filed 2025-11-12.
0001193125-25-277883
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 1248 previous paragraphs and 1312 current paragraphs.
833 unchanged; 230 reworded; 237 added; 171 removed; 14 previous and 12 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 (237)
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ended March 31, 2025 and June 30, 2025.
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plans, objectives, goals, expectations,
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limitation:
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of any changes in furtherance of
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the Federal Reserve’s long-term inflation
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the effects of the federal government shutdown that began
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October 1, 2025 due to federal budget disputes, which
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continues and the effects of any resolution of such disputes;
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the chartering of new depository institutions focused on crypto coins
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and which creates additional competition to
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banks and potential disintermediation of deposits, and greater risks to
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industry, including the
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Company, relies on, and greater
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financial system, generally;
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See "Table 1 - Explanation
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of Non-GAAP Financial Measures."
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million for the first nine months of 2025, a 16% increase compared to $4.8 million
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for the first nine months of 2024.
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2025, compared to $1.38 per share for the first nine months of 2024.
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income (tax-equivalent) was $22.0 million for the first nine months
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of 2025, a 9% increase compared to $20.2
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million for the first nine months of 2024.
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(tax-equivalent) was 3.26%
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cost of interest-bearing deposits.
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See “Results
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of Operations – Average
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At September 30, 2025, the Company’s
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allowance for credit losses was $6.7 million, or 1.20% of total loans, compared
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to
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$6.9 million, or 1.22% of total loans, at December 31, 2024, and $6.9 million,
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first nine months of 2025 of $152 thousand,
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nine months of 2024.
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The provision for credit losses
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Our
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Noninterest income was $2.4 million in the first nine months of 2025,
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compared to $2.6 million in the first nine months of
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Noninterest expense was $17.4 million in the first nine months of 2025,
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compared to $16.7 million for the first nine months
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other noninterest expense.
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These increases were partially offset by a decrease in net occupancy
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Removed paragraphs (171)
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objectives, goals, expectations,
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without limitation:
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the Federal Reserve will keep its
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targeted federal funds rates at or above current target
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ranges in furtherance of its long-term inflation target of 2%
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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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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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(tax-equivalent) was 3.24%
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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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for credit losses was $7.0 million, or 1.24% of total loans, compared to $6.9
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million, or 1.24% of total loans, at June 30, 2024.
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of 2025 of $103 thousand, compared to
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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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Noninterest expense was $11.6 million in the
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first six months of 2025, compared to $11.2 million for
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the first six months of
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Income tax expense was $0.9 million for the first six months of 2025
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compared to $0.6 million for the first six months of
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was 20.68%, compared to 17.07% in the first six
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At June 30, 2025, the
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Bank’s regulatory capital ratios were
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current
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share, for the second quarter of 2024.
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Reworded paragraphs (230)
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The following discussion and analysis is intended to provide a better understanding
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The following discussion and analysis is intended to provide a better
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of various factors related to the results
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understanding of various factors related to the results
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notes for the quarters and six months ended June 30, 2025 and 2024,
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notes for the quarters and nine months ended September 30, 2025 and 2024,
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as well as the information contained in our Annual
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as well as the information contained in our
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Report on Form 10-K for the year ended December 31, 2024 and our Quarterly
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annual report on Form 10-K for the year ended December 31, 2024 and our
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Reports on Form 10-Q.
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interim reports on Form 10-Q for the quarters
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Forward-looking statements include statements with respect to our beliefs, plans,
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Forward-looking statements include statements with respect to our beliefs,
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statements may not be realized due to a variety of factors, including,
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statements may not be realized due to a variety of factors, including, without
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the effects of war or other conflicts, acts of terrorism, trade restrictions, tariffs,
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the effects of war or other conflicts, acts of terrorism, trade restrictions,
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sanctions, the value of the U.S.
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tariffs, sanctions, the value of the U.S.
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such spending, changes in monetary policies in response to inflation
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such spending, changes in monetary policies in response to inflation and changes
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and changes in prices and unemployment,
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in prices and unemployment,
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of securities through quantitative tightening or easing; and the duration that
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of securities through quantitative tightening or easing; and the timing and speed
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while supporting maximum employment;
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target of 2% while supporting maximum employment;
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on changes in regulations and interpretations, numerous new Executive
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on changes in regulations and interpretations, numerous new Executive Orders,
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Orders, and the uncertain effects of all
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and the uncertain effects of all
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regulation and/or enforcement regarding digital assets, such as cyber currency
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digital assets, such as cyber currency and stable coins, including
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additional competition to banks, and greater risks to the payment systems that the
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the payment systems that the banking
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and greater risks of fraud and theft of digital assets and their effects
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risks of fraud and theft of digital assets and their effects on
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financial institutions, including our counterparties, financial stability
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customers, other financial institutions, including our counterparties, financial
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and confidence in the financial system,
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stability and confidence in the
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implementing such transactions, integrating operations as part of these
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implementing such transactions, integrating operations as part of
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transactions and possible failures to achieve
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these transactions and possible failures to achieve
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All written or oral forward-looking statements that we make or are
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All written or oral forward-looking statements that we make or are attributable
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attributable to us are expressly qualified in their entirety
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to us are expressly qualified in their entirety
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looking statements after the date of this report, or after the respective dates on
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looking statements after the date of this report, or after the respective dates on which
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which such statements otherwise are made.
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such statements otherwise are made.
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The Company’s net earnings were $3.4
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The Company’s net earnings were $5.6
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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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Basic and diluted earnings per share were $1.60 per share for the first nine months
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for the first six months of 2025 compared to 3.05% for the
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for the first nine months of 2025 compared to 3.05% for the first nine months
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improvements in our yields on interest-earning assets, which outpaced increases in
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improvements in our yields on interest-earning assets, and a decrease in our
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million, or 1.22% of total loans, at December 31, 2024, and $7.1
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or 1.22% of total loans, at September 30,
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The Company recorded a provision for credit losses during the first six months
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The Company recorded a negative provision for credit losses during the
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The Company recorded a charge to provision
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compared to a charge to provision of $84 thousand during the first
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The provision for credit losses under CECL reflects the Company’s
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under CECL reflects the Company’s
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evaluation of its credit risk profile and its future economic outlook
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evaluation of its credit risk profile and its future economic outlook and forecasts.
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Our CECL model is largely influenced by
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CECL model is largely influenced by economic factors including,
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rate, which may be affected by government policies,
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be affected by government policies, including monetary,
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The increase was primarily related to increases in salaries and benefits expense.
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The increase was primarily related to increases in salaries and benefits expense and
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The Company's effective tax rate for the first six months of 2025
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The Company's effective tax rate for the first nine months of 2025
Showing the first 40 of 230 pairs. Open the source sections for the rest.
Rearranged current paragraphs (12)
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policies, regulation and/or enforcement regarding
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the anticipated Alabama unemployment rate, which may
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quarter of 2025 compared to 3.05% in the third quarter of 2024.
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The Company recorded a negative provision for credit losses during the
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negative provision for credit losses during
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amortized cost basis of securities available-for-
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still accruing at September 30, 2025 compared to
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of deposits of state, county and
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assets or liabilities are priced with the same index. Higher market interest
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adversely affect unemployment rates. Inflation and related
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affect the values and liquidity of our
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and the success of our borrowers and such
Rearranged previous paragraphs (14)
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See "Table 1 - Explanation of Non-GAAP Financial Measures."
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in the cost of our interest-bearing deposits.
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economic factors including, the anticipated Alabama unemployment
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rates since its March 2020 COVID rate reduction,
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At June 30, 2025, the target federal funds rate
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rates will be important to our net interest
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Other noninterest income was $0.8 million for the first six months of 2025, compared
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fair value of securities available-for-sale of $8.4 million.
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Excluding estimated uninsured deposits of state,
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asymmetrical changes in the different interest rate indexes,
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maintains interest rates to meet its
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and liquidity of our loans and securities, the value of
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such borrowers’ available cash to pay
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into account a wide range of information, including readings on labor market