v3.26.1
Summary of Significant Accounting Policies (Policies)
 3 Months Ended
Mar. 31, 2026
Summary of Signficant Accounting Policies  
Nature of Business Policy
General
Auburn National Bancorporation, Inc. (the “Company”) is a bank holding
company whose primary business is conducted
by its wholly-owned subsidiary,
AuburnBank (the “Bank”).
AuburnBank is a commercial bank located in
Auburn, Alabama. The Bank provides a full range of banking services
in its primary market area, Lee County,
which
includes the Auburn-Opelika Metropolitan Statistical Area.
Basis of Presentation Policy
Basis of Presentation and Use of Estimates
The unaudited consolidated financial statements in this report have been
prepared in accordance with U.S. generally
accepted accounting principles (“GAAP”) for interim financial information.
Accordingly, these financial statements
do not
include all of the information and footnotes required by U.S. GAAP for complete
financial statements.
The unaudited
consolidated financial statements include, in the opinion of management,
all adjustments necessary to present a fair
statement of the financial position and the results of operations for all periods presented.
All such adjustments are of a
normal recurring nature. The results of operations in the interim statements are not
necessarily indicative of the results of
operations that the Company and its subsidiaries may achieve for future interim
periods or the entire year. For further
information, refer to the consolidated financial statements and footnotes included
in the Company's Annual Report on Form
10-K for the year ended December 31, 2025.
Consolidation Policy
The unaudited consolidated financial statements include the accounts
of the Company and its wholly-owned subsidiaries.
Significant intercompany transactions and accounts are eliminated in
consolidation.
Use of Estimates Policy
The preparation of financial statements in conformity with U.S. GAAP requires
management to make estimates and
assumptions that affect the reported amounts of assets and liabilities and disclosures
of contingent assets and liabilities as of
the balance sheet date and the reported amounts of revenues and expenses during
the reporting period.
Actual results could
differ from those estimates.
Material estimates that are particularly susceptible to significant change in
the near term
include the determination of allowance for credit losses on loans and
investment securities, the fair value of financial
instruments, and the valuation of deferred tax assets and other real estate owned
(“OREO”).
Subsequent Events Policy
Subsequent Events
The Company has evaluated the effects of events and
transactions through the date of this filing that have occurred
subsequent to March 31, 2026.
The Company does not believe there were any material subsequent events during
this
period that would have required further recognition or disclosure in the
unaudited consolidated financial statements
included in this report.
Reclassification Policy
Reclassifications
Certain amounts reported in prior periods have been reclassified to
conform to the current-period presentation.
These
reclassifications had no effect on the Company’s
previously reported net earnings or total stockholders’ equity.
Accounting Developments
Accounting Developments
In the first quarter of 2026, the Company did not adopt any new accounting
guidance.