To Our Shareholders  and Friends At times a lot of words are used in a report to cloud the issue. It is a way  to bury the facts and make you wonder about the actual results. For the last four years the nation’s economy in general and the banking  industry in particular have been through some rough times. AuburnBank is no exception. We have been there, and we have made  tough and timely decisions. Some were hard, some hurt and some cost us,  but the results speak for themselves. In 2011, net earnings were $5.5 million, or $1.52 per share, a 4 percent  increase compared to 2010. Asset quality improved as nonperforming  assets declined to 2.8 percent of total assets at the end of 2011. In  addition, we increased our dividend in 2011 to $0.80 per share, an  increase of 3 percent from the previous year. The numbers show that we are profitable, our asset quality is improving  and our capital position is strong. We meet our challenges head on, and we try to minimize risk in all areas. Our resources of capital, financial skill, and a caring and capable staff  enable us to serve you and to enter new market areas. We thank you for  being an investor in our bank, and we appreciate your support. E.L. Spencer, Jr. Chairman, Board of Directors AuburnBank and ANBC