AUBURN NATIONAL BANCORPORATION Business Summary

Auburn National Bancorporation, Inc. (AUBN) operates as the bank holding company for AuburnBank, a community-oriented financial institution primarily serving the East Alabama market. The company generates the majority of its revenue through net interest income, derived from a diversified loan portfolio—including commercial, residential real estate, and consumer loans—funded by a stable base of core retail and commercial deposits. Supplemental revenue is driven by non-interest income sources such as mortgage lending activities, service charges on deposit accounts, and wealth management fees. AUBN focuses its primary business segments on commercial and retail banking, positioning itself as a relationship-driven alternative to larger financial institutions. Its primary direct competitors include regional heavyweights Regions Financial Corporation, Synovus Financial Corp., and Trustmark Corporation, as well as localized competitors like River Bank & Trust. Within this landscape, AUBN maintains a dominant local market share in the Auburn-Opelika Metropolitan Statistical Area (MSA), leveraging its deep-rooted community presence and conservative credit culture to compete against the broader digital reach of its larger peers. The leadership team is headed by President and CEO David A. Hedges, who transitioned into the role in 2023 after serving as the company’s Chief Financial Officer, bringing a strong background in financial reporting and strategic capital allocation. He is supported by James E. Hicks, who serves as Executive Vice President and CFO, overseeing fiscal operations and regulatory compliance, and W. Thomas Johnson, the Chief Operations Officer responsible for the bank's internal infrastructure and digital banking initiatives. The Board of Directors is chaired by Robert W. Dumas, the former long-time CEO whose extensive pedigree in Alabama banking provides institutional continuity and strategic oversight. Other notable board members include C. Wayne Alderman and Anne M. May, who provide expertise in governance and local economic development. As a publicly traded entity on the NASDAQ, the company’s governance is characterized by a high degree of local stakeholder alignment, with the executive team focused on maintaining the bank's status as a premier independent community bank in the Southeast.