Auburn National Bancorporation, Inc. Reports Completion of the Redemption of Trust Preferred Securities

Apr 27, 2018

AUBURN, Ala., April 27, 2018 (GLOBE NEWSWIRE) -- Auburn National Bancorporation (the “Company”) (Nasdaq:AUBN) today announced that the Auburn National Bancorporation Capital Trust I (the “Trust”) formally redeemed all of its issued and outstanding capital securities at par. The Company had repurchased $4.0 million par amount of capital securities issued by the Trust in October 2016, at a discount. The additional amount paid today for capital securities not previously purchased by the Company was approximately $3.0 million, including accrued and unpaid distributions. All junior subordinated debentures related to the Trust were redeemed and retired as a result of this action.

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