Auburn National Bancorporation, Inc. (NASDAQ:AUBN) announced today that the Company's Board of Directors has approved a new stock repurchase program. The Company's prior stock repurchase program expired April 15, 2024. The new program authorizes the repurchase, from time to time, of up to $5 million of the Company's issued and outstanding common stock through the earliest of (i) the expenditure of $5 million on Share repurchases, (ii) the termination or replacement of the Repurchase Plan and (iii) March 15, 2027. The stock repurchases may include open-market or private purchases, negotiated transactions, block purchases, and otherwise.

The Company is not required to acquire any specific number of shares and may suspend or terminate its share repurchases at any time. The amount and timing of the stock repurchases will be based on various factors, the Company's liquidity and capital, the market price of Company common stock compared to management's view of such stock's underlying value, and applicable regulatory, legal and accounting factors.