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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Auburn Bancorp Inc (PK) | USOTC:ABBB | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 8.46 | 8.36 | 8.80 | 1 | 13:00:01 |
x
|
QUARTERLY
REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934
|
For
the quarterly period ended:
September 30,
2008
|
|
or
|
|
o
|
TRANSITION
REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934
|
000-53370
|
||
(Commission
File Number)
|
Auburn
Bancorp, Inc.
|
||
(Exact
name of registrant as specified in its charter)
|
United
States
|
26-2139168
|
|
(State
or other jurisdiction
|
(IRS
Employer
|
|
of
incorporation)
|
Identification
No.)
|
256
Court Street, P.O. Box 3157, Auburn, Maine 04212
|
||
(Address
and zip code of principal executive offices)
|
(207)
782-0400
|
||
(Registrant’s
telephone number, including area code)
|
None
|
||
(Former
name, former address and former fiscal year, if changed since last
report)
|
Large
accelerated filer
o
|
Accelerated
filer
o
|
|
Non-accelerated
filer
o
|
Smaller
reporting company
x
|
Page
|
||
PART
I. FINANCIAL INFORMATION (Unaudited)
|
||
Item
1.
|
Financial
S
tatements
|
|
Consolidated
Balance Sheets as of September 30, 2008 (Unaudited) and June 30,
2008
|
3
|
|
Consolidated
Statements of Income for the Three Months Ended September 30, 2008 and
2007 (Unaudited)
|
4
|
|
Consolidated
Statements of Changes in Stockholders’ Equity for the Three Months Ended
September
30, 2008 and 2007 (Unaudited)
|
5
|
|
Consolidated
Statements of Cash Flows for the Three Months Ended September 30, 2008 and
2007 (Unaudited)
|
6
|
|
Notes
to Consolidated Financial Statements (Unaudited)
|
7
|
|
Item
2.
|
Management’s
Discussion and Analysis of Financial Condition and Results of
Operations
|
10
|
Item
3.
|
Quantitative
and Qualitative Disclosures About Market Risk
|
16
|
Item
4.
|
Controls
and Procedures
|
16
|
PART
II. OTHER INFORMATION
|
||
Item
1.
|
Legal
Proceedings
|
17
|
Item
2.
|
Unregistered
Sales of Equity Securities and Use of Proceeds
|
17
|
Item
3.
|
Defaults
Upon Senior Securities
|
17
|
Item
4.
|
Submission
of Matters to a Vote of Security Holders
|
17
|
Item
5.
|
Other
Information
|
17
|
Item
6.
|
Exhibits
|
18
|
Signatures
|
19
|
September
30,
2008
|
June
30,
2008
|
|||||||
(Unaudited)
|
||||||||
ASSETS
|
||||||||
Cash
and due from banks
|
$ | 1,399,308 | $ | 1,782,970 | ||||
Interest-bearing
deposits
|
1,330,789 | 229,517 | ||||||
Total
cash and cash equivalents
|
2,730,097 | 2,012,487 | ||||||
Certificates
of deposit
|
2,453,051 | 2,257,504 | ||||||
Investment
securities available for sale
|
1,332,623 | 1,433,732 | ||||||
Federal
Home Loan Bank stock, at cost
|
901,100 | 901,100 | ||||||
Loans
|
58,586,424 | 57,021,649 | ||||||
Less
allowance for loan losses
|
(364,124 | ) | (345,550 | ) | ||||
Net
loans
|
58,222,300 | 56,676,099 | ||||||
Property
and equipment, net
|
1,938,163 | 1,945,233 | ||||||
Foreclosed
real estate
|
224,732 | 87,383 | ||||||
Accrued
interest receivable:
|
||||||||
Investments
|
35,480 | 23,725 | ||||||
Mortgage-backed
securities
|
1,892 | 2,034 | ||||||
Loans
|
255,887 | 249,547 | ||||||
Prepaid
expenses and other assets
|
196,371 | 710,448 | ||||||
Total
assets
|
$ | 68,291,696 | $ | 66,299,292 | ||||
LIABILITIES
AND STOCKHOLDERS’ EQUITY
|
||||||||
Liabilities:
|
||||||||
Deposits
|
$ | 47,327,779 | $ | 46,073,155 | ||||
Federal
Home Loan Bank advances
|
14,900,000 | 15,350,000 | ||||||
Accrued
interest and other liabilities
|
165,349 | 269,752 | ||||||
Deferred
income taxes
|
78,336 | 88,786 | ||||||
Total
liabilities
|
62,471,464 | 61,781,693 | ||||||
Stockholders’
equity:
|
||||||||
Preferred
stock, 1,000,000 shares authorized, no shares outstanding
|
— | — | ||||||
Common
stock, $.01 par value per share, 10,000,000 shares authorized, 503,284
shares issued and outstanding at September 30, 2008, none at June 30,
2008
|
5,033 | — | ||||||
Additional
paid-in-capital
|
1,471,148 | — | ||||||
Retained
earnings
|
4,570,730 | 4,566,433 | ||||||
Accumulated
other comprehensive loss
|
(55,505 | ) | (48,834 | ) | ||||
Unearned
compensation (ESOP shares)
|
(171,174 | ) | — | |||||
Total
stockholders’ equity
|
5,820,232 | 4,517,599 | ||||||
Total
liabilities and stockholders’ equity
|
$ | 68,291,696 | $ | 66,299,292 |
Three
Months Ended September 30,
|
||||||||
2008
|
2007
|
|||||||
(Unaudited)
|
||||||||
Interest
and dividend income:
|
||||||||
Interest
on loans
|
$ | 975,923 | $ | 926,169 | ||||
Interest
on investments and other interest-bearing deposits
|
48,492 | 66,512 | ||||||
Dividends
on Federal Home Loan Bank stock
|
6,833 | 14,603 | ||||||
Total
interest and dividend income
|
1,031,248 | 1,007,284 | ||||||
Interest
expense:
|
||||||||
Interest
on deposits and escrow accounts
|
349,963 | 436,247 | ||||||
Interest
on Federal Home Loan Bank advances
|
191,037 | 175,567 | ||||||
Total
interest expense
|
541,000 | 611,814 | ||||||
Net
interest income
|
490,248 | 395,470 | ||||||
Provision
for (recovery of) loan losses
|
18,574 | (2,512 | ) | |||||
Net
interest income after provision for (recovery of) loan
losses
|
471,674 | 397,982 | ||||||
Non-interest
income:
|
||||||||
Net
gain on sales of loans
|
2,455 | 4,644 | ||||||
Other
non-interest income
|
19,949 | 31,592 | ||||||
Total
non-interest income
|
22,404 | 36,236 | ||||||
Non-interest
expenses:
|
||||||||
Salaries
and employee benefits
|
212,977 | 210,050 | ||||||
Occupancy
expense
|
28,646 | 26,702 | ||||||
Depreciation
|
25,031 | 26,821 | ||||||
Federal
insurance premiums
|
3,387 | 1,273 | ||||||
Computer
charges
|
41,409 | 37,302 | ||||||
Advertising
expense
|
9,019 | 11,055 | ||||||
Consulting
expense
|
9,651 | 9,066 | ||||||
Impairment
writedown of investment securities available for sale
|
60,270 | — | ||||||
Other
operating expenses
|
65,423 | 60,713 | ||||||
Total
non-interest expenses
|
455,813 | 382,982 | ||||||
Income
before income taxes
|
38,265 | 51,236 | ||||||
Income
tax expense
|
31,200 | 15,400 | ||||||
Net
income
|
$ | 7,065 | $ | 35,836 | ||||
Net
income per common share
|
$ | .03 | N/A |
Common
Stock
|
Additional
Paid-
in-Capital
|
Retained
Earnings
|
Accumulated
Other
Comprehensive
Loss
|
Unearned
Compensation
(ESOP
Shares)
|
Total
|
|||||||||||||||||||
Balance,
June 30, 2007
|
$ | — | $ | — | $ | 4,362,193 | $ | (12,392 | ) | $ | — | $ | 4,349,801 | |||||||||||
Comprehensive
income
|
||||||||||||||||||||||||
Net
income
|
— | — | 35,836 | — | — | 35,836 | ||||||||||||||||||
Other
comprehensive income
|
||||||||||||||||||||||||
Unrealized
holding gains on securities, net of taxes of $2,331
|
— | — | — | 4,525 | — | 4,525 | ||||||||||||||||||
Total
comprehensive income
|
— | — | 35,836 | 4,525 | — | 40,361 | ||||||||||||||||||
Effect
of adoption of SFAS No.156, net of tax effect of $17,812
|
— | — | 53,438 | — | — | 53,438 | ||||||||||||||||||
Balance,
September 30, 2007 (unaudited)
|
$ | — | $ | — | $ | 4,451,467 | $ | (7,867 | ) | $ | — | $ | 4,443,600 | |||||||||||
Balance,
June 30, 2008
|
$ | — | $ | — | $ | 4,566,433 | $ | (48,834 | ) | $ | — | $ | 4,517,599 | |||||||||||
Comprehensive
income
|
||||||||||||||||||||||||
Net
income
|
— | — | 7,065 | — | — | 7,065 | ||||||||||||||||||
Other
comprehensive income
|
||||||||||||||||||||||||
Unrealized
holding loss on securities, net of taxes of $(23,928)
|
— | — | — | (46,449 | ) | — | (46,449 | ) | ||||||||||||||||
Less
reclassification adjustment for items included in net income, net of taxes
of $20,492
|
— | — | — | 39,778 | — | 39,778 | ||||||||||||||||||
Total
comprehensive income
|
— | — | 7,065 | (6,671 | ) | — | 394 | |||||||||||||||||
Shares
issued in public offering, net of offering costs of $766,504 (226,478
shares)
|
2,265 | 1,496,011 | — | — | — | 1,498,276 | ||||||||||||||||||
Shares
issued to MHC (276,806 shares)
|
2,768 | — | (2,768 | ) | — | — | — | |||||||||||||||||
Capitalization
of MHC
|
— | (25,000 | ) | — | — | — | (25,000 | ) | ||||||||||||||||
Shares
purchased by ESOP (17,262 shares)
|
— | — | — | — | (172,620 | ) | (172,620 | ) | ||||||||||||||||
Common
stock held by ESOP committed to be released (145 shares)
|
— | 137 | — | — | 1,446 | 1,583 | ||||||||||||||||||
Balance,
September 30, 2008 (unaudited)
|
$ | 5,033 | $ | 1,471,148 | $ | 4,570,730 | $ | (55,505 | ) | $ | (171,174 | ) | $ | 5,820,232 |
Three
Months Ended
September
30,
|
||||||||
2008
|
2007
|
|||||||
Cash
flows from operating activities
|
||||||||
Net
income
|
$ | 7,065 | $ | 35,836 | ||||
Adjustments
to reconcile net income to net cash provided by operating
activities:
|
||||||||
Depreciation
|
25,031 | 26,821 | ||||||
Net
amortization of premiums (accretion of discounts) on investment securities
available for sale
|
(1,799 | ) | 1,463 | |||||
Provision
for (recovery of) loan losses
|
18,574 | (2,512 | ) | |||||
Deferred
income tax expense
|
(7,014 | ) | 1,076 | |||||
Other-than-temporary
impairment on investment securities available for sale
|
60,270 | — | ||||||
Gain
on sales of loans
|
(2,455 | ) | (4,644 | ) | ||||
ESOP
compensation expense
|
1,583 | — | ||||||
Net
decrease (increase) in prepaid expenses and other assets
|
525,502 | (22,594 | ) | |||||
Net
increase in accrued interest receivable
|
(17,953 | ) | (2,942 | ) | ||||
Net
decrease in accrued interest payable and other liabilities
|
(104,405 | ) | (30,262 | ) | ||||
Net
cash provided by operating activities
|
504,399 | 2,242 | ||||||
Cash
flows from investing activities:
|
||||||||
Purchase
of investment securities available for sale
|
(250,000 | ) | — | |||||
Proceeds
from maturities and principal paydowns on investment securities available
for sale
|
282,531 | 540,940 | ||||||
Net
change in certificates of deposit
|
(195,547 | ) | (295,000 | ) | ||||
Net
increase in loans to customers
|
(1,711,094 | ) | (72,136 | ) | ||||
Capital
expenditures
|
(17,961 | ) | (14,430 | ) | ||||
Net
cash provided (used) by investing activities
|
(1,892,071 | ) | 159,374 | |||||
Cash
flows from financing activities:
|
||||||||
Advances
from Federal Home Loan Bank
|
— | 500,000 | ||||||
Repayment
of advances from Federal Home Loan Bank
|
(250,000 | ) | (250,000 | ) | ||||
Net
change in short term borrowings
|
(200,000 | ) | — | |||||
Net
increase in deposits
|
1,254,626 | 226,154 | ||||||
Proceeds
from issuance of common stock, net of offering costs
|
1,498,276 | — | ||||||
Capitalization
of MHC
|
(25,000 | ) | — | |||||
Cash
provided to ESOP for purchases of shares
|
(172,620 | ) | — | |||||
Net
cash provided by financing activities
|
2,105,282 | 476,154 | ||||||
Net
increase in cash and cash equivalents
|
717,610 | 637,770 | ||||||
Cash
and cash equivalents, beginning of period
|
2,012,487 | 3,413,330 | ||||||
Cash
and cash equivalents, end of period
|
$ | 2,730,097 | $ | 4,051,100 | ||||
Supplementary
cash flow information:
|
||||||||
Cash
paid during the period for:
|
||||||||
Interest
|
$ | 541,467 | $ | 611,611 | ||||
Taxes
|
$ | 79,000 | $ | — |
1.
|
Basis of
Presentation
|
The
financial information included herein presents the financial condition and
results of operations for Auburn Bancorp, Inc. and its wholly-owned
subsidiary, Auburn Savings Bank, FSB. as of September 30, 2008, and for
the interim periods ended September 30, 2008 and 2007. The financial
information is unaudited; however, in the opinion of management, the
information reflects all adjustments, consisting of normal recurring
adjustments that are necessary to make the financial statements not
misleading for a fair presentation. The results shown for the three months
ended September 30, 2008 and 2007 are not necessarily indicative of the
results to be obtained for a full year. The accompanying consolidated
financial statements have been prepared in conformity with U.S. generally
accepted accounting principles (“GAAP”) and with the rules and regulations
of the Securities and Exchange Commission for interim financial reporting.
Accordingly they do not include all of the information and footnotes
required for complete financial statements. These interim financial
statements should be read in conjunction with the audited financial
statements for the year ended June 30, 2008 included in the Company’s
annual report on Form 10-K (File No. 000-53370).
|
|
Since
the reorganization discussed in Note 2 was effective on August 15, 2008,
the June 30, 2008 financial statements do not include the holding company,
Auburn Bancorp, Inc.
|
|
In
preparing financial statements in conformity with accounting principles
generally accepted in the United States of America, management is required
to make estimates and assumptions that affect the reported amounts of
assets and liabilities as of the date of the balance sheet and reported
amounts of revenues and expenses during the reporting period. Actual
results could differ from those estimates. Material estimates that are
particularly susceptible to significant change in the near term relate to
the determination of the allowance for loan losses. In connection with the
determination of the allowance for loan losses, management obtains
independent appraisals for significant properties.
|
|
2.
|
Reorganization
|
On
January 11, 2008, the Board of Directors of Auburn Savings Bank (the
“Bank”) adopted a Plan of Reorganization From a Mutual Savings Bank to a
Mutual Holding Company and Stock Issuance Plan (the “Plan”) under which
Auburn Savings Bank reorganized into a mutual holding company structure.
As part of the reorganization, Auburn Savings Bank converted to a federal
stock savings bank and became a wholly-owned subsidiary of Auburn Bancorp,
Inc. (the “Company”), and the Company became a majority-owned subsidiary
of Auburn Mutual Holding Company (the “MHC”). In addition, the Company
conducted a stock offering pursuant to the laws of the United States of
America and the rules and regulations of the Office of Thrift Supervision
(“OTS”). Following completion of the reorganization and stock offering,
the MHC owns 55.0% of the outstanding common stock of the Company and the
minority public shareholders own 45.0%. Shares of the Company’s common
stock were offered on a first priority basis in a subscription offering to
eligible account holders, tax-qualified employee plans, and other members.
Shares remaining after the conclusion of the subscription offering were
offered for sale in a community offering. So long as the MHC is in
existence, the MHC will be required to own at least a majority of the
voting stock of the Company.
|
|
Net proceeds of $1.5
million were raised in the stock offering, after deduction of expenses of
$766,000 and excluding $25,000 used to capitalize the MHC and $173,000
which was loaned by the Company to a trust for the Employee Stock
Ownership Plan (the “ESOP”), enabling the ESOP to purchase 17,262 shares
of common stock in the offering, equal to 3.43% of the shares of common
stock
sold in the stock offering, for the benefit of the Bank’s
employees.
|
The
Company may not declare or pay a cash dividend on, or repurchase any of
its common stock, if the effect thereof would cause the regulatory capital
of Auburn Savings Bank to be reduced below the amount required under OTS
rules and regulations.
|
|
Auburn
Bancorp, Inc.’s common stock is quoted on the OTC Bulletin Board under the
symbol “ABBB.”
|
|
3.
|
Impact of Recent
Accounting Standards
|
On
February 15, 2007, the Financial Accounting Standards Board (FASB) issued
Statements of Financial Accounting Standard (SFAS) No. 159,
The Fair Value Option for
Financial Assets and Financial Liabilities
, which provides
companies with an option to report selected financial assets and
liabilities at fair value. SFAS No. 159 also establishes presentation and
disclosure requirements designed to facilitate comparisons between
companies that choose different measurement attributes for similar types
of assets and liabilities. This Statement is effective for the Bank’s 2009
fiscal year, with early adoption permitted for the Bank’s 2008 fiscal
year, provided that the Bank also adopts SFAS No. 157 for fiscal year
2008. Management is currently evaluating the potential impacts of adopting
this Statement on its financial statements.
|
|
In
September 2006, the FASB issued SFAS No. 157,
Fair Value
Measurements
. This Statement defines fair value, establishes a
framework for measuring fair value in accordance with generally accepted
accounting principles, and expands disclosures about fair value
measurements. This Statement is effective for the Bank on July 1, 2008,
with earlier adoption permitted for fiscal year 2008, and is not expected
to have a material impact on the Bank’s financial statements. In February
2008, FASB issued FASB Staff Position (FSP) FAS No. 157-2 which delays by
one year the effective date of SFAS No. 157 for certain types of
nonfinancial assets and nonfinancial liabilities. In October 2008, FASB
issued FSP FAS No. 157-3,
Determining the Fair Value of
a Financial Asset When the Market for That Asset Is Not Active
. FSP
FAS No. 157-3 clarifies the application of SFAS No. 157 in a market that
is not active and provides an example to illustrate key considerations in
determining the fair value of a financial asset when the market for that
financial asset is not active.
|
|
In
March 2008, FASB issued SFAS No. 161,
Disclosures about Derivative
Instruments and Hedging Activities - an amendment of SFAS No. 133
.
SFAS No. 161 is intended to enhance the current disclosure framework in
SFAS No. 133. This Statement has the same scope as SFAS No. 133. SFAS No.
133 requires that objectives for using derivative instruments be disclosed
in terms of underlying risk and accounting designation. The disclosures
required by SFAS No. 161 better convey the purpose of derivative use in
terms of the risk that the entity is intending to manage, the fair values
of the derivative instruments and their gains and losses in a tabular
format, as well as information about credit-risk-related contingent
features. This Statement is effective for financial statements issued for
fiscal years and interim periods beginning after November 15, 2008.
Management does not expect implementation of SFAS No. 161 to have a
material impact on the financial statements of the
Company.
|
4.
|
Earnings
Per Share
|
Basic
earnings per share represents income available to common stockholders
divided by the
adjusted weighted-average number of common shares
outstanding during the period. The adjusted outstanding common shares
equals the gross number of common shares issued less unallocated shares of
the ESOP. Net income per common share is not applicable for the three
months ended September 30, 2007, as the Company did not become a public
entity until August 15, 2008.
|
|
Net
income per common share for the three months ended September 30, 2008 is
based upon net income of $7,065 and weighted-average shares outstanding of
257,112, less average ESOP shares not yet committed to be released of
8,768, or 248,344.
|
|
5.
|
Employee Stock
Ownership Plan
|
Shares
of the Company’s common stock purchased by the ESOP are held in a suspense
account until released for allocation to participants. Shares released are
allocated to each eligible participant based on the ratio of each such
participant’s compensation, as defined in the ESOP, to the total
compensation of all eligible plan participants. As the unearned shares are
released from suspense, the Company recognizes compensation expense equal
to the fair value of the ESOP shares committed to be released during the
period. To the extent that the fair value of the ESOP shares differs from
the cost of such shares, the difference is charged or credited to equity
as additional paid-in capital. Expense related to the ESOP totaled
approximately $2,000 for the three months ended September 30, 2008. The
fair value of the unallocated shares as of September 30, 2008 was
$176,936.
|
|
6.
|
Impairment Writedown
on Securities
|
In
accordance with SFAS No. 115, “Accounting for Certain Investments in Debt
and Equity Securities” and SEC Staff Accounting Bulletin No. 59,
“Accounting for Non-current Marketable Securities”, the Company determined
that it would write-down investments in Federal National Mortgage
Association (FNMA) and Federal Home Loan Mortgage Corporation (FHLMC)
common stock in the quarter ended September 30, 2008 as a result of the
appointment of the Federal Housing Finance Agency as conservator over both
of the entities. The amount of the other-than-temporary impairment charge
was $60,000, the total amount of such FNMA and FHLMC common stock on the
Company’s books at that date.
|
|
The
Company did not record a tax benefit in connection with the impairment of
its FNMA and FHLMC common stock. Although the Company would realize a
capital loss if it sells the FNMA and FHLMC common stock, such capital
loss would result in a tax benefit to the Company only to the extent the
capital loss can be used to reduce capital gains available during the
applicable carryback and carryforward periods. The Company does not expect
those capital gains to be material in relation to the amount of the
other-than-temporary impairment charge.
|
|
7.
|
Fair Value
Measurement
|
SFAS
No. 157 defines fair value as the exchange price that would be received
for an asset or paid to transfer a liability (an exit price) in the
principal or most advantageous market for the asset or liability in an
orderly transaction between market participants on the measurement date.
SFAS No. 157 also establishes a fair value hierarchy which requires an
entity to maximize the use of observable inputs and minimize the use of
unobservable inputs when measuring fair value. The standard describes
three levels of inputs that may be used to measure fair
value:
|
|
Level
1: Quoted prices (unadjusted) or identical assets or liabilities in active
markets that the entity has the ability to access as of the measurement
date
|
Level
2: Significant other observable inputs other than Level 1 prices, such as
quoted prices for similar assets or liabilities, quoted prices in markets
that are not active, and other inputs that are observable or can be
corroborated by observable market data
|
|
Level
3: Significant unobservable inputs that reflect a company’s own
assumptions about the assumptions that market participants would use in
pricing an asset or liability
|
|
Assets
and liabilities measured at fair value on a recurring basis are summarized
below.
|
Fair
Value Measurements at September 30, 2008, Using
|
||||||||||||||||
September
30,
2008
|
Quoted
Prices
In
Active
Markets
for
Identical
Assets
(Level
1)
|
Significant
Other
Observable
Inputs
(Level
2)
|
Significant
Unobservable
Inputs
(Level
3)
|
|||||||||||||
Assets:
|
||||||||||||||||
Investment
securities available for sale
|
$ | 1,332,623 | $ | — | $ | 1,332,623 | $ | — |
Exhibit
Number
|
Exhibit
Description
|
|
2.1
|
Plan
of Reorganization from Mutual Savings Bank to Mutual Holding Company and
Stock Issuance Plan **
|
|
3.1
|
Charter
of Auburn Bancorp, Inc. **
|
|
3.2
|
Bylaws
of Auburn Bancorp, Inc. **
|
|
4.1
|
Specimen
Stock Certificate of Auburn Bancorp, Inc. **
|
|
31.1
|
Rule
13a-14(a)/15d-14(a) Certification of Chief Executive Officer of the
Company
|
|
31.2
|
Rule
13a-14(a)/15d-14(a) Certification of Chief Financial Officer of the
Company
|
|
32.1
|
Section
1350 Certification of Chief Executive Officer of the Company in accordance
with Section 906 of the Sarbanes-Oxley Act of 2002
|
|
32.2
|
Section
1350 Certification of Chief Financial Officer of the Company in accordance
with Section 906 of the Sarbanes-Oxley Act of 2002
|
|
99.1 | Press Release dated November 14, 2008 |
**
|
Incorporated
by reference into this document from the Exhibits filed with the
Securities and Exchange Commission on the Company’s Registration Statement
on Form S-1, as amended, initially filed on March 14, 2008 and declared
effective on May 13, 2008 (File Number
333-149723).
|
Auburn
Bancorp, Inc.
|
|||
(Registrant)
|
|||
Date:
November 14, 2008
|
By:
|
/s/
Allen T. Sterling
|
|
Allen
T. Sterling
|
|||
President
and Chief Executive Officer
|
|||
Date:
November 14, 2008
|
By:
|
/s/
Rachel A. Haines
|
|
Rachel
A. Haines
|
|||
Principal
Financial Officer
|
1 Year Auburn Bancorp (PK) Chart |
1 Month Auburn Bancorp (PK) Chart |
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