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
2025
First Quarter
$
23.37
$
20.36
$
0.27
Second Quarter
25.28
19.48
0.27
Third Quarter
28.47
23.13
0.27
Fourth Quarter
27.98
24.00
0.27
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
(1)
The price information represents actual transactions.
The Company has paid cash dividends on its capital stock since becoming
the Bank’s sole stockholder.
Prior to forming
the Company, 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, regulatory
and capital requirements and other relevant factors.
T
he 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”
.
Issuer Purchases of Equity Securities
N
ot applicable.
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