Auburn National Bancorporation, Inc 8-K/A, filed Oct 17, 2022
Auburn National Bancorporation, Inc (AUBN)
About this 8-K/A
Auburn National Bancorporation, Inc filed this 8-K/A on October 17, 2022, reporting on events of February 22, 2022.
Items reported
- Item 8.01: Other events
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
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CURRENT REPORT
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OF THE SECURITIES EXCHANGE ACT OF 1934
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On February 22, 2022, Auburn National Bancorporation, Inc. (the “Company”) reported that its wholly owned subsidiary, AuburnBank (the “Bank”), had entered into an Agreement of Purchase and Sale (the “Agreement”) with Ram Auburn Hospitality Four, LLC (the “Purchaser”) for the sale (the “Sale”) of approximately 0.85 acres of land located next to the Company’s headquarters in Auburn, Alabama. The Sale includes all appurtenances, privileges, development and rights (collectively with the land, the “Property”).
| Item 8.01 |
On October 13, 2022, the Company closed the Sale at the agreed upon purchase price of $4.26 million. Although not all invoices have been received, after prorations, closing costs and costs of demolishing the Bank’s former main office building, the Company estimates that the sale will result in a pre-tax gain of $3.3 million.
Cautionary Notice Regarding Forward-Looking Statements
The above description contains “forward-looking statements” within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, including, without limitation, statements about the estimated pre-tax gain on the Sale on an aggregate and per share basis. Actual results may differ from those set forth in the forward-looking statements.
Forward-looking statements, with respect to the Company’s beliefs, plans, objectives, goals, expectations, anticipations, estimates and intentions, involve known and unknown risks, uncertainties and other factors, which may be beyond the Company’s control, and which may cause the actual results, performance, achievements, or financial condition of the Company or the Bank to be materially different from future results, performance, achievements, or financial condition expressed or implied by such forward-looking statements. You should not expect the Company to update any forward-looking statements.
All written or oral forward-looking statements attributable to the Company are expressly qualified in their entirety by this cautionary notice, together with those risks and uncertainties described in the Company’s annual report on Form 10-K for the year ended December 31, 2021 and otherwise in the Company’s other SEC reports and filings.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| AUBURN NATIONAL BANCORPORATION, INC. | ||
| (Registrant) | ||
| /s/ Robert W. Dumas | ||
| Robert W. Dumas | ||
| Chairman, President and CEO | ||
Date: October 17, 2022
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