Accounting Standards Adopted in 2025

Accounting Standards Update (“ASU”) 2023-09,

Income Taxes

(Topic

740): Improvements to Income Tax

Disclosures.

The

amendments in this Update enhance the transparency and decision usefulness of

income tax disclosures.

For public

business entities, the new standard was effective for annual periods

beginning after December 15, 2024.

The Company has

adopted ASU 2023-09.

Issued not yet effective accounting standards

The following ASUs have been issued by the Financial Accounting Standards

Board (“FASB”) but are

not yet effective.

ASU 2025-01,

Income Statement Reporting Comprehensive Income

- Expense Disaggregation Disclosures

(Subtopic 220-

40): Clarifying the Effective Date,

clarifies the effective date of ASU 2024-03,

Income Statement Reporting Comprehensive

Income - Expense Disaggregation Disclosures

(Subtopic 220-40): Disaggregation of

Income Statement Expenses

stipulate that ASU 2024-03 is effective for public business entities for

annual reporting periods beginning after December

15, 2026 and interim reporting periods beginning after December 15,

2027, with early adoption permitted. ASU 2025-01

will be effective for the Company beginning January 1, 2027

for the Company’s annual consolidated

financial statements

on Form 10-K and January 1, 2028 for the Company’s

quarterly consolidated financial statements on Form 10-Q

and is not

expected to have a significant impact on the Company’s

consolidated financial statements.

ASU 2025-06,

Intangibles - Goodwill and Other - Internal-Use Software

(Subtopic 350-40),

removes all references to

prescriptive and sequential software development stages and clarifies that the

threshold for when an entity is required to

start capitalizing software costs is when (1) management has authorized

and committed to funding the software project and

(2) it is probable that the project will be completed and the software will be used to perform

the function intended. ASU

2025-06 will be effective for the Company beginning

January 1, 2028, with early adoption permitted, and is not expected to

have a significant impact on the Company’s

consolidated financial statements.

ASC 2025-11,

Interim Reporting (Topic

270): Narrow-Scope Improvements,

is intended to provide clarity about the current

interim reporting requirements, provides a list of the interim disclosures required

by all other Codification topics and

establishes a disclosure principle that requires entities to disclose events since the

end of the last annual reporting period

that have a material impact on the entity.

ASC 2025-11 will be effective

for the Company beginning January 1, 2028, with

early adoption permitted, and is not expected to have a significant impact on the Company’s

consolidated financial

statements.

Historical Timeline

Fiscal Year	Filed
2025	Mar 17, 2026	Showing above
2024	Mar 11, 2025

2023	Mar 14, 2024

2022	Mar 17, 2023

2021	Mar 8, 2022

2020	Mar 9, 2021

2019	Mar 6, 2020

2018	Mar 12, 2019

2017	Mar 13, 2018

2016	Mar 3, 2017

2015	Mar 10, 2016

About New Standards Disclosures

New accounting standards disclosures describe recently adopted pronouncements and those not yet effective, along with management's assessment of their expected impact. This section provides an early warning system for upcoming changes to how a company reports its financial results, often years before the new rules take effect.

Key signals: when management describes a not-yet-adopted standard's impact as "material" or "still being evaluated," it signals potential significant changes to reported metrics upon adoption. Watch for standards that affect a company's core operations — for example, revenue recognition changes for software companies or lease accounting changes for retailers with large store footprints. The transition method chosen (full retrospective versus modified retrospective) affects comparability with prior periods. Companies that delay adoption to the latest permitted date may be struggling with implementation complexity. Compare the disclosed impact assessments against peers in the same industry to gauge whether management's expectations are reasonable.

AUBURN NATIONAL BANCORPORATION, INC New Standards Disclosure

Historical Timeline

About New Standards Disclosures

Other Available Disclosures