AUBURN NATIONAL BANCORPORATION, INC
For the period ended Jun 30, 2026. Filed Aug 11, 2026.
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, 2026 · Filed Aug 11, 2026
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2026-03-31; filed 2026-05-13.
0001193125-26-221544
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 2026-06-30; filed 2026-08-11.
0001193125-26-345021
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 1205 previous paragraphs and 1283 current paragraphs.
902 unchanged; 133 reworded; 241 added; 158 removed; 12 previous and 7 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 (241)
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made in this
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of various factors related to the results
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consolidated financial statements and related
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contained in our Annual
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Reports on Form 10-Q.
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which adversely
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purposes and our tangible equity;
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capital and liquidity requirements, greater nonbank participation in the
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Federal Reserve payments system, and in
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for the first six months of 2025.
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compared to $0.96 per share for the first six months of 2025.
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Net interest income (tax-equivalent) was $15.8 million for the first six months
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of 2026, a 9% increase compared to $14.5
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million for the first six months of 2025.
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improvements in our net interest margin.
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(tax-equivalent) was 3.31% for the first six
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months of 2026 compared to 3.13% for the first six months of 2025.
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a more favorable asset mix.
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Average loans
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were approximately $580.2 million in the first six months of 2026, compared
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to $563.1 million in the first six months of
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The Company recorded a negative provision for credit losses of $(324) thousand
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in the first six months of 2026, compared
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to a charge to provision for credit losses of $103 thousand in the first six
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months of 2025.
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portfolio and unfunded commitments, our internal
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economic conditions, and net charge-
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Noninterest income was $1.8 million in the first six months of 2026, compared
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to $1.5 million in the first six months of
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life insurance (“BOLI”)
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income related to non-taxable death benefits received during the
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second quarter of 2026.
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Noninterest expense was $12.0 million in the first six months of 2026, compared
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to $11.6 million in the first six months of
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The increase was primarily due to a $0.4 million loss contingency accrual recorded in other
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during the second quarter of 2026, partially offset by a decrease in net
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occupancy and equipment expense.
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See “Note 6 –
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Commitments and Contingent Liabilities” to the accompanying consolidated
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of 2026 compared to $0.9 million for the
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Removed paragraphs (158)
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of our results of operations and
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statements and related notes for the quarters
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ended December 31, 2025.
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securities portfolio, which adversely
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our tangible equity;
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d
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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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Non-GAAP Financial Measures."
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million for the first quarter of 2026, a 44% increase compared to $1.5 million
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the first quarter of 2025.
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of 2026, compared
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to $0.44 per share for the first quarter of 2025.
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Net interest
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income (tax-equivalent) was $7.8 million for the first quarter of
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2026, a 10% increase compared to $7.1 million
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in our
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net interest margin.
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The Company’s net interest margin
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(tax-equivalent) was 3.28% for the first quarter of 2026 compared
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to 3.09% for the first quarter of 2025.
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This increase was primarily due to higher yields on interest-earnings assets, a
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Average loans were
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approximately
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$577.5 million in the first quarter of 2026, compared to $566.1 million in the first quarter
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The Company recorded a negative provision for credit losses of $(76) thousand
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negative provision of $(10) thousand in the first quarter of 2025.
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compared to $0.7 million in the first quarter of 2025.
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increase was primarily due to mortgage lending income.
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Noninterest expense was $5.9 million in the first quarter of 2026
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and first quarter of 2025, respectively.
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expense was largely unchanged as a decrease in net occupancy and
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equipment expense was largely offset by an increase in
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professional fees expense.
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compared to $0.4 million for the first
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The Company's effective tax rate for the first quarter of 2026 was 21.53%, compared
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to 20.40% in the first
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Company’s investments
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Reworded paragraphs (133)
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The Bank has been a member of the FHLB - Atlanta since 1991. Certain of the statements made in
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The Bank has been a member of the FHLB of Atlanta since 1991. Certain of the statements
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financial condition of the Company and the Bank.
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of operations and financial condition of the Company and the Bank.
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This discussion is intended to supplement and highlight information
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This discussion is intended to supplement and
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contained in the accompanying unaudited condensed consolidated financial
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highlight information contained in the accompanying unaudited condensed
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ended March 31, 2026 and 2025, as well as the information contained in our Annual
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notes for the quarter and six months ended June 30, 2026 and 2025, as well as the information
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Report on Form 10-K for the year
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Report on Form 10-K for the year ended December 31, 2025 and our Quarterly
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the effects of future economic, business and market conditions and
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the effects of future economic, business and market conditions
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changes, foreign, domestic and locally,
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and changes, foreign, domestic and locally,
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increases in market interest rates that may result in unrealized losses on our
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increases in market interest rates that may result in unrealized losses on our securities portfolio,
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affect our stockholders’ equity for financial reporting purposes and
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affect our stockholders’ equity for financial reporting
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capital and liquidity requirements, and in the coverage and cost of FDIC deposit insurance;
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the coverage and cost of FDIC deposit insurance;
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ividends, share repurchases and discretionary bonuses; and
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dividends, share repurchases and discretionary bonuses; and
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See "Table 1 - Explanation of
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See "Table 1 - Explanation of Non-GAAP Financial Measures."
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The Company’s net earnings were $2.2
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The Company’s net earnings were $4.5
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for the first quarter of 2025.
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million for the first six months of 2026, a 34% increase compared to $3.4 million
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Basic and diluted earnings per share were $0.63 per share for the first quarter
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Basic and diluted earnings per share were $1.29 per share for the first six months of 2026,
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This increase was due to growth in average interest-earning assets and improvements
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This increase was due to growth in average interest-earning assets and
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decrease in our cost of interest-bearing deposits, and a more favorable asset mix.
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interest-earning assets, a decrease in our cost of interest-bearing deposits, and
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overall balance and composition of our loan portfolio and unfunded commitments,
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affected by changes in overall balance and composition of our loan
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quality of the loan portfolio, our expectations about future economic
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assessment of the credit quality of the loan portfolio, our expectations about future
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The provision for income tax expense was $0.6 million for the first quarter of 2026
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The provision for income tax expense was $1.2 million for the first six months
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income tax rate is affected principally by tax-exempt earnings
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tax rate is principally affected by tax-exempt
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in municipal securities and loans, BOLI, and NMTCs.
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in municipal securities and loans, BOLI, and New Markets Tax
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The Company paid cash dividends of $0.27 per share in the first quarter of 2026
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The Company paid cash dividends of $0.54 per share in the first six months of 2026
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to be “well capitalized” under current regulatory
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well above the minimum amounts required to be “well capitalized” under current
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standards with a total risk-based capital ratio of 17.13%, a tier 1 leverage ratio of
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regulatory standards with a total risk-based capital ratio of 17.24%,
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10.60% and a common equity tier 1
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a tier 1 leverage ratio of 10.65% and a common equity
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in the first quarter of 2026, compared to a
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quarter of 2026, compared to a provision for credit losses of $113
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Noninterest income was $0.9 million in the first quarter of 2026,
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income was $0.9 million for the second quarter of 2026, compared
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Income tax expense was $0.6 million for the first quarter of 2026
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Income tax expense was $0.6 million for the second quarter of 2026 compared
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This increase was due to growth in average interest-earning assets and improvements
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This increase was due to growth in average interest-earning assets and
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The Federal Reserve announced a 25-basis points reduction in the target
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The Federal Reserve announced a 25-basis point reduction in the target
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range for the federal funds rate in each of
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funds rate in each of September, October
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At March 31, 2026, the Federal Reserve’s
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At June 30, 2026, the Federal Reserve’s target
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remained at 3.50% to 3.75%, which the Federal Reserve reaffirmed
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rate range remained at 3.50% to 3.75%, which the Federal Reserve reaffirmed
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8 basis points to 4.39% in the first quarter of 2026
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8 basis points to 4.42% in the first six months of 2026
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deposits, and a more favorable asset mix.
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This increase was primarily due to higher yields on loans and a more
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The cost of interest-bearing liabilities decreased 20 basis points in the first quarter
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The cost of interest-bearing liabilities decreased 16 basis points in the first six months
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the first quarter of 2025 following decreases to the federal funds rate.
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1.76% in the first six months of 2025, following decreases to the federal
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fluctuations. Deposit and loan pricing remain competitive in our
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Deposit and loan pricing remain competitive in our markets.
Showing the first 40 of 133 pairs. Open the source sections for the rest.
Rearranged current paragraphs (7)
Current report — wording carried from elsewhere
This increase was primarily due to higher yields on
Current report — wording carried from elsewhere
The provision for credit losses is
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The increase was primarily due to increased mortgage lending income and bank-owned
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available-for-sale, net of tax, and
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to have a significant impact on the
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January 1, 2027, with early adoption permitted, and
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is not expected to have a significant impact on the Company’s
Rearranged previous paragraphs (12)
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regulatory capital ratios were well above the minimum amounts required
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Net interest income and margin (tax-equivalent) (a)
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for the first quarter of 2025.
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This increase was primarily due to
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in the first quarter of 2026, compared to a
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The provision for credit losses is affected by changes in
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our internal assessment of the credit
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calculation of current expected credit losses (“CECL”).
Previous report — wording carried elsewhere
During the first quarter of 2026, the Company established a new loan
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servicing of mortgage loans. Origination income, net, is comprised
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Company had no securities sold under agreements to repurchase,
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under the Federal Reserve’s Small Bank Holding