2015 was a very successful year for AuburnBank. Record net earnings of $7.9 million or $2.16 per share were reported for 2015. This reflects a 6% increase over net earnings for 2014. Continued improvement in our net interest margin coupled with loan growth of 6% and strong asset quality were primary drivers of our increased earnings.
In addition, to better serve our customers, two new locations in Auburn were opened in 2015 at Corner Village Shopping Center on Glenn Avenue and at 1351 S. Donahue Drive.
This year’s annual report features five very special individuals with over 175 years of combined service at AuburnBank. I know you will enjoy reading about their experiences and unique stories that cover over five decades while working at AuburnBank. Ginnie, Jo, Susan, Barbara and Ann represent the best in our profession. Their many valuable contributions to AuburnBank and to the communities we serve reflect the service attitude of the entire AuburnBank Team.
Thank you for your continued support and we look forward to serving you for years to come.
Robert W. Dumas
President and CEO
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