Auburn National Bancorporation, Inc. reported unaudited earnings results for fourth quarter and year ended December 31, 2017. For the quarter, the company's net interest income was $6,575,000 compared to $6,051,000 a year ago. Net interest income (GAAP) was $6,275,000 compared to $5,735,000 a year ago. Total revenue was $7,119,000 compared to $6,228,000 a year ago. Net earnings were $1,825,000 or $0.50 per basic and diluted share compared to $2,077,000 or $0.57 per basic and diluted share a year ago. Book value per share as on December 31, 2017 was $23.85 compared to $22.55 as on December 31, 2016. Return on average equity (annualized) was 8.31% compared to 9.61% a year ago. Return on average assets (annualized) was 0.89% compared to 1.00% a year ago.

For the year, the company's net interest income was $25,731,000 compared to $24,008,000 a year ago. Net interest income (GAAP) was $24,526,000 compared to $22,732,000 a year ago. Total revenue was $27,967,000 compared to $26,115,000 a year ago. Net earnings were $7,846,000 or $2.15 per basic and diluted share compared to $8,150,000 or $2.24 per basic and diluted share a year ago. Return on average equity (annualized) was 9.17% compared to 9.65% a year ago. Return on average assets (annualized) was 0.94% compared to 0.98% a year ago. The decrease in the company's 2017 earnings was primarily due to a deferred tax asset remeasurement adjustment of $0.4 million as a result of a lower enacted corporate tax rate. 

Net charge-offs for the quarter amounted to $487,000.