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Item 1B. Unresolved Staff Comments

2021-03-09 compared with 2020-03-06 · 144 added, 78 removed, 9 unchanged (96% of the section changed)

UNRESOLVED STAFF COMMENTS

DESCRIPTION OF

The Bank conducts its business from its main office and eight full-service branches.

The Bank also operates a commercial loan production

office in Phenix City, Alabama.

The bank owns its main office building, which is located in downtown Auburn, Alabama, and has approximately 16,150 square feet of space.

The original building was constructed in 1964, and an addition was completed in

Portions of the building have been renovated to accommodate growth and changes in the Banks operational structure and to adapt to technological changes.

The main office offers the full line of the Banks services and has one ATM.

The Bank completed construction on a new drive-through facility located on the main office campus in October 2012.

This drive-through facility has five drive-through lanes, including an ATM, and a walk-up

teller window.

The Bank also owns a commercial office building, the AuburnBank Center (the Center), which is located next to the Banks

STAFF COMMENTS

DESCRIPTION OF PROPERTY

The Bank conducts its business from its main office and

seven full-service branches.

The Bank also operates loan

production offices

in Auburn and Phenix City,

The Bank owns

its main office building site,

which is located in

downtown Auburn, Alabama.

During 2020 the main office was demolished and a

temporary main office branch was

constructed in the AuburnBank Center (the “Center”).

The Bank also owns the Center, which was

located next to the

Bank’s recently demolished main

The Center has approximately 23,000 square feet of space.

The Banks mortgage servicing, data processing activities, and other operations, are located in the Center.

In total, the main office and Center parking lots provide parking

for approximately 196 vehicles.

In January 2019, the Bank purchased a parcel that adjoins the Center in order to improve ingress and egress to the

Banks main campus, which comprises over 5 acres in downtown Auburn and includes the Banks main office building, drive-through facility, and the Center.

The building improvements on this adjoining parcel will be demolished as part of the

Banks plan to redevelop its main campus.

Phase I of this redevelopment plan will include the construction of a new headquarters building and a parking deck.

Construction is scheduled to begin during the second half of 2020.

Upon completion of

construction, the Banks main office branch and all of its back-office operations will be located in the new headquarters building.

Any unused office/retail space in this new building will be available for lease to third parties.

construction, the Bank will temporarily relocate its main office branch to the Center.

All of the Bank’s

mortgage servicing, data processing activities, and other operations,

are located in the Center.

The temporary main office

branch offers the full line of the Bank’s

services and has one ATM.

The Bank’s drive-through facility located

office campus was constructed in October 2012.

This drive-through facility has five drive-through lanes, including an

and a walk-up teller window.

In January 2019, the Bank purchased a parcel that adjoins the

Center in order to improve ingress and egress to the Bank's

main campus, which comprises over 5 acres in downtown Auburn and

includes the Bank's main office site, drive-through

facility, and the Center.

The building improvements on this adjoining parcel,

as well as the main office, will be demolished

as part of Phase I of the Bank's plan to redevelop its main campus.

Phase I of this redevelopment plan will include the

construction of a new headquarters building and a parking deck.

Construction activities commenced during the second half

of 2020 and upon completion of Phase I, the Bank's main office

branch and all of its back-office operations will

in the new headquarters building.

Any unused office/retail space in this new building will be

available for lease to third

The Opelika branch is located in Opelika, Alabama.

built in 1991, is owned by the Bank and has approximately 4,000 square feet of space.

This branch offers the full line of the Banks services and has drive-through windows and an ATM.

built in 1991, is owned by the Bank and has

approximately 4,000 square feet of space.

This branch offers

the full line of the Bank’s services and

has drive-through

windows and an ATM.

This branch offers parking for approximately 36 vehicles.

The Banks Notasulga branch was opened in August 2001.

This branch is located in Notasulga, Alabama, about 15 miles west of Auburn, Alabama.

branch is owned by the Bank and has approximately 1,344 square feet of space.

The Bank leased the land for this branch from a third party.

In May 2019, the Banks land lease renewed for another one year term.

This branch offers the full line of

the Banks services including safe deposit boxes and a drive-through window.

This branch offers parking for approximately 11 vehicles, including a handicapped ramp.

In November 2002, the Bank opened a loan production office in Phenix City, Alabama, about 35 miles south of Auburn, Alabama.

In November 2019, the Bank

renewed its lease for another year.

In February 2009, the Bank opened a branch located on Bent Creek Road in Auburn, Alabama.

The Bank’s Notasulga branch was

opened in August 2001.

This branch is located in Notasulga, Alabama,

about 15 miles

west of Auburn, Alabama.

This branch is owned by the Bank

and has approximately 1,344 square feet of space.

leased the land for this branch from a third party.

the Bank’s land lease renewed for

another one year term.

This branch offers the full line of the Bank’s

services including safe deposit boxes and a drive-through window.

branch offers parking for approximately 11

vehicles, including a handicapped ramp.

In November 2002, the Bank opened a loan production office

in Phenix City, Alabama, about

35 miles south of Auburn,

In November 2020,

the Bank renewed its lease for another year.

In February 2009, the Bank opened a branch located on Bent

Creek Road in Auburn, Alabama.

This branch is owned by the

Bank and has approximately 4,000 square feet of space.

This branch offers the full line of the Banks services and has drive-through windows and a drive-up ATM.

This branch offers the full line of the Bank’s

services and has

drive-through windows and a drive-up ATM.

This branch offers parking for approximately 29

In December 2011, the Bank opened

a branch located on Fob James Drive in Valley,

Alabama, about 30 miles northeast of

Auburn, Alabama.

This branch is owned by the Bank and has approximately 5,000

square feet of space.

This branch offers

the full line of the Bank’s services

and has drive-through windows and a drive-up ATM.

This branch offers parking for

approximately 35 vehicles.

In December 2011, the Bank opened a branch located on Fob James Drive in Valley, Alabama, about 30 miles northeast of Auburn,

This branch is owned by the Bank and has approximately 5,000 square feet of space.

This branch offers the full line of the Banks services and has drive-through windows and a drive-up ATM.

branch offers parking for approximately 35 vehicles.

Prior to December 2011, the Bank leased office space for a loan production office in Valley, Alabama.

The loan production office was originally opened in September 2004.

In February 2015, the Bank relocated its Auburn Kroger branch to a new location within the Corner Village Shopping Center, in Auburn, Alabama.

2015, the Bank entered into a new lease agreement for five years with options for two 5-year extensions.

In February 2020, the Bank exercised its option to extend the lease for another five years.

leases approximately 1,500 square feet of space for the Corner Village branch.

Prior to relocation, the Banks Auburn Kroger branch was located in the Kroger supermarket in the same shopping center.

The Auburn Kroger branch was originally

opened in August 1988.

The Corner Village branch offers the full line of the Banks deposit and other services including an ATM, except safe deposit boxes.

In September 2015, the Bank relocated its Auburn Wal-Mart

Supercenter branch to a new location the Bank purchased in December 2014 at the intersection of S.

Donahue Avenue and E.

Prior to December 2011,

the Bank leased office space for a loan production office

The loan production office was originally opened

in September 2004.

In February 2015, the Bank relocated its Auburn Kroger branch to a

new location within the Corner Village

Center, in Auburn, Alabama.

In February 2015,

the Bank entered into a new lease agreement for five years with options

two 5-year extensions.

In February 2020, the Bank exercised

its option to renew the lease for another five years.

leases approximately 1,500 square feet of space for the Corner Village

Prior to relocation, the Bank’s

Kroger branch was located in the Kroger supermarket in the same

shopping center.

The Auburn Kroger

originally opened in August 1988.

The Corner Village

branch offers the full line of the Bank’s

deposit and other services

including an ATM,

except safe deposit boxes.

In September 2015, the Bank relocated its Auburn Wal

-Mart Supercenter branch to a new location the Bank purchased

December 2014 at the intersection of S.

Donahue Avenue

University Drive in Auburn, Alabama.

The South Donahue branch, built in 2015, has approximately 3,600 square feet of space.

Prior to relocation, the Banks Auburn Wal-Mart Supercenter branch was located inside the Wal-Mart shopping center on the south side of Auburn, Alabama.

Wal-Mart Supercenter branch was originally opened in September 2000.

The South Donahue branch offers the full line of the Banks services and has drive-through windows and an ATM.

This branch offers

parking for approximately 28 vehicles.

In May 2017, the Bank relocated its Opelika Kroger branch to a new location the Bank purchased in August 2016 near

the Tiger Town Retail Shopping Center and the intersection of U.S.

Highway 280 and Frederick Road in Opelika, Alabama.

The Tiger Town branch, built in 2017, has approximately 5,500 square feet of space.

Prior to relocation, the Banks Opelika

Kroger branch was located inside the Kroger supermarket in the Tiger Town retail center in Opelika, Alabama.

The Opelika Kroger branch was originally opened in July 2007.

The Tiger Town branch offers the full line of the Banks services and has

drive-through windows and an ATM.

Donahue branch, built in 2015, has approximately 3,600

square feet of space.

Prior to relocation, the Bank’s Auburn

Mart Supercenter branch was located inside the Wal

-Mart shopping center on the south side of Auburn, Alabama.

Auburn Wal-Mart Supercenter

branch was originally opened in September 2000.

The South Donahue branch

offers the full

line of the Bank’s services and

has drive-through windows and an ATM.

This branch offers parking for approximately 28

In May 2017, the Bank relocated its Opelika Kroger branch to

a new location the Bank purchased in August 2016 near the

Retail Shopping Center and the intersection of U.S.

and Frederick Road in Opelika, Alabama.

The Tiger Town

branch, built in 2017, has approximately 5,500

square feet of space.

Prior to relocation, the Bank’s

Opelika Kroger branch was located inside the Kroger supermarket in

the Tiger Town

retail center in Opelika, Alabama.

Opelika Kroger branch was originally opened in July 2007.

The Tiger Town

branch offers the full line of the Bank’s

services and has drive-through windows and an ATM.

This branch offers parking for approximately 36 vehicles.

In September 2018, the Bank opened a mortgage loan production

office on East Samford Avenue in Auburn, Alabama.

The location has approximately 2,500 square feet of space and is leased through 2028.

The mortgage loan production office was previously located in the Center on the Banks main campus.

location offers parking for approximately 16 vehicles.

In September 2018, the Bank opened a loan production office

on East Samford Avenue in

Auburn, Alabama.

has approximately 2,500 square feet of space and is leased through 2028

The loan production office was previously

located in the Center on the Bank’s

This location offers parking for approximately

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 1B. Unresolved Staff Comments