Item 5. Market for Registrant’s Common Equity
ITEM 5.
MARKET FOR REGISTRANT’S COMMON EQUITY,
RELATED STOCKHOLDER
MATTERS AND
ISSUER PURCHASES OF EQUITY SECURITIES
The Company’s Common
Stock is listed on the Nasdaq Global Market, under the symbol “AUBN”. As of March 10,
2025,
there were approximately 3,493,699 shares of the Company’s
Common Stock issued and outstanding, which were held by
approximately 330 shareholders of record. The following table sets forth, for
the indicated periods, the high and low closing
sale prices for the Company’s Common
Stock as reported on the Nasdaq Global Market, and the cash dividends declared to
shareholders during the indicated periods.
Closing
Cash
Price
Dividends
Per Share (1)
Declared
High
Low
2024
First Quarter
$
21.55
$
18.82
$
0.27
Second Quarter
19.25
16.63
0.27
Third Quarter
24.35
17.50
0.27
Fourth Quarter
24.57
20.06
0.27
2023
First Quarter
$
24.50
$
22.55
$
0.27
Second Quarter
24.32
18.80
0.27
Third Quarter
22.80
20.85
0.27
Fourth Quarter
21.99
19.72
0.27
(1)
The price information represents actual transactions.
The Company has paid cash dividends on its capital stock since 1985. Prior to this time,
the Bank paid cash dividends since
its organization in 1907, except during the Depression years of
1932 and 1933. Holders of Common Stock are entitled to
receive such dividends when, as and if may be declared by the Company’s
Board of Directors. The amount and frequency
of cash dividends is determined in the judgment of the Board based upon a number
of factors, including the Company’s
earnings, financial condition, liquidity,
capital and regulatory requirements and other relevant factors and the availability of
dividends payable by the Bank consistent with amounts available therefore,
including the Bank’s earnings,
financial
condition, liquidity, regula
tory and capital requirements and other relevant factors. The Board currently intends to
continue
its present dividend policies.
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The amount of dividends payable by the Bank is limited by law and regulation.
The Company relies upon dividends from
the Bank to pay Company expenses and to pay dividends on Company common stock.
The need to maintain adequate
capital and liquidity in the Bank also limits the dividends that may be paid to the Company.
The Bank and the Company
can only pay dividends, repurchase stock and pay discretionary bonuses,
if our capital conservation buffer of CET1 capital
exceeds 2.5% and from our eligible retained income over the last four calendar
quarters.
Eligible retained income equals
the greater of:
●
net income for the four preceding calendar quarters, net of any distributions and associated
tax effects not already
reflected in net income; or
●
the average net income over the preceding four quarters.
Federal Reserve policy could restrict future dividends from the Bank or on
Company Common Stock, depending on our
earnings and capital position, risks and likely needs.
The Alabama Banking Code also limits dividends payable by the
Bank.
See “Supervision and Regulation –Dividends and Distributions” and
“Management’s Discussion and Analysis of
Financial Condition and Results of Operations – Capital Adequacy”
and “Risk Factors -
Our ability to continue to pay
dividends to shareholders and repurchase
stock in the future is subject to our profitability,
capital, liquidity and regulatory
requirements and
these limitations may prevent or limit future
dividends.”
Issuer Purchases of Equity Securities
Not applicable.
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