AUBURN — Auburn National Bancorporation, Inc. reported net earnings of $2.3 million, or $0.64 per share, for the second quarter of 2019, compared to $2.3 million, or $0.62 per share, for the second quarter of 2018.

Net earnings for the first six months of 2019 were $4.9 million, or $1.35 per share, compared to $4.5 million, or $1.22 per share, for the first six months of 2018.

“The Company’s second quarter results reflect solid revenue growth,” said Robert W. Dumas, Chairman, President and CEO. “The Company’s growth in net interest income and margin was driven by loan growth and improvements in our balance sheet mix.”

Net interest income was $6.7 million for the second quarter of 2019, a 4 percent increase compared to $6.5 million for the second quarter of 2018.

This increase was primarily due to loan growth and improved yields on interest-earning assets.

Average loans were up 6 percent to $473.2 million in the second quarter of 2019 compared to $448.5 million in the second quarter of 2018.

The company’s net interest margin increased to 3.50 percent in the second quarter of 2019, compared to 3.36 percent for the second quarter of 2018 as earning asset yields improved.

Nonperforming assets were $0.4 million or 0.05 percent of total assets at June 30, compared to $1.2 million or 0.15 percent of total assets at June 30, 2018.

The allowance for loan losses was 1.02 percent of total loans at June 30, compared to 1.04 percent of total loans at June 30, 2018.

The company recorded no provision for loan losses in the second quarter of 2019 and 2018.

The provision for loan loss is based upon various estimates and judgments, including the absolute level of loans, loan growth, credit quality and the amount of net charge-offs.

Noninterest income was $0.9 million for the second quarter of 2019, compared to $0.8 million for the second quarter of 2018.

Noninterest expense was $4.6 million for the second quarter of 2019, compared to $4.3 million for the second quarter of 2018.

This increase was primarily due to increases in salaries and benefits expense.

The company paid cash dividends of $0.25 per share in the second quarter of 2019, an increase of 4.2 percent from the same period in 2018.

The company purchased 9,687 of shares in the latest quarter and 72,205 shares year to date in 2019.

According to the company, on June 30, the Bank’s regulatory capital was well above the minimum amounts required to be “well capitalized” under current regulatory standards.