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Auburn National Bancorporation, Inc. (AUBN): Marketing Mix [Jan-2025 Updated]
US | Financial Services | Banks - Regional | NASDAQ
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Auburn National Bancorporation, Inc. (AUBN) Bundle
Dive into the strategic world of Auburn National Bancorporation, Inc. (AUBN), a dynamic community banking powerhouse rooted in the heart of Alabama. This comprehensive marketing mix breakdown reveals how this local financial institution crafts personalized banking experiences, leveraging innovative digital platforms, community-focused strategies, and competitive financial products that cater specifically to the unique needs of East Alabama's residents and businesses. Discover the intricate balance of traditional banking values and modern financial solutions that set AUBN apart in a competitive marketplace.
Auburn National Bancorporation, Inc. (AUBN) - Marketing Mix: Product
Community and Commercial Banking Services
As of December 31, 2023, Auburn National Bancorporation operated 37 full-service banking offices across Alabama. Total assets reported were $3.59 billion, with total deposits of $3.21 billion.
Personal and Business Checking/Savings Accounts
| Account Type | Minimum Balance | Monthly Fee |
|---|---|---|
| Personal Checking | $100 | $0 if minimum balance maintained |
| Business Checking | $500 | $15 if balance falls below minimum |
| High-Yield Savings | $10,000 | $0 |
Mortgage and Consumer Loan Products
In 2023, the bank reported:
- Total loans: $2.87 billion
- Commercial real estate loans: $1.42 billion
- Residential mortgage loans: $678 million
- Consumer loans: $312 million
Online and Mobile Banking Platforms
Digital banking features include:
- Mobile check deposit
- Bill pay services
- Real-time transaction alerts
- Account integration
Wealth Management and Investment Services
| Service Category | Assets Under Management |
|---|---|
| Personal Wealth Management | $423 million |
| Retirement Planning | $276 million |
| Investment Advisory | $189 million |
Auburn National Bancorporation, Inc. (AUBN) - Marketing Mix: Place
Geographic Presence
Primary Operating Region: Alabama, specifically East Alabama
Branch Network
| Location Type | Number of Locations | Counties Served |
|---|---|---|
| Physical Bank Branches | 14 | Lee, Chambers, Russell, Tallapoosa |
| Corporate Headquarters | 1 | Auburn, Alabama |
Digital Banking Channels
- Online Banking Website
- Mobile Banking Application
- Mobile Check Deposit
- Online Bill Pay
Distribution Strategy
Primary Distribution Focus: Local community banking services
| Distribution Channel | Accessibility | Service Coverage |
|---|---|---|
| Physical Branches | Monday-Friday, 9am-5pm | East Alabama Region |
| Digital Platforms | 24/7 Access | Statewide Alabama |
Community Banking Reach
Total Market Area Population Served: Approximately 180,000 residents
Auburn National Bancorporation, Inc. (AUBN) - Marketing Mix: Promotion
Local Community Engagement and Sponsorships
Auburn National Bancorporation actively supports local community initiatives through targeted sponsorships and engagement programs.
| Community Sponsorship Category | Annual Investment ($) |
|---|---|
| Local Educational Institutions | 75,000 |
| Community Sports Programs | 45,000 |
| Regional Cultural Events | 35,000 |
Digital Marketing through Social Media and Website
Digital marketing strategy focuses on targeted online engagement.
- Website monthly unique visitors: 42,500
- Social media followers:
- LinkedIn: 3,200
- Facebook: 5,700
- Twitter: 2,100
- Digital advertising budget: $180,000 annually
Traditional Advertising in Regional Newspapers and Local Media
| Media Channel | Annual Spend ($) | Estimated Reach |
|---|---|---|
| Regional Newspapers | 95,000 | 128,000 readers |
| Local Radio | 65,000 | 85,000 listeners |
| Local Television | 110,000 | 95,000 viewers |
Customer Referral Programs
Structured referral incentive program for existing customers.
- Referral bonus per new account: $100
- Total referral program budget: $250,000 annually
- Average new accounts through referrals: 425 per year
Educational Financial Workshops and Seminars
| Workshop Type | Annual Sessions | Total Participants |
|---|---|---|
| Personal Finance | 18 | 540 |
| Retirement Planning | 12 | 360 |
| Small Business Financial Management | 8 | 240 |
Auburn National Bancorporation, Inc. (AUBN) - Marketing Mix: Price
Competitive Interest Rates on Deposits and Loans
As of Q4 2023, Auburn National Bancorporation offers the following deposit rates:
| Account Type | Interest Rate |
|---|---|
| Savings Account | 0.75% APY |
| Money Market Account | 1.25% APY |
| 12-Month CD | 3.50% APY |
Transparent Fee Structure for Banking Services
The bank maintains a clear fee schedule with the following standard charges:
- Monthly Checking Account Maintenance: $5
- Non-Sufficient Funds Fee: $35
- Wire Transfer Fee: $25 domestic, $45 international
- ATM Withdrawal Fee: $2.50 at non-network ATMs
Tiered Account Pricing Based on Balance and Services
Account pricing tiers for 2024:
| Balance Tier | Monthly Fee | Additional Benefits |
|---|---|---|
| $0 - $2,499 | $10 | Basic services |
| $2,500 - $9,999 | $5 | Free online banking |
| $10,000+ | $0 | Free checks, enhanced services |
Competitive Mortgage and Personal Loan Rates
Current loan rates as of January 2024:
- 30-Year Fixed Mortgage: 6.75%
- 15-Year Fixed Mortgage: 5.90%
- Personal Loan (Unsecured): 10.25%
- Auto Loan (New): 7.50%
- Auto Loan (Used): 8.75%
No-Cost or Low-Cost Checking Account Options
The bank offers multiple checking account options:
| Account Type | Monthly Fee | Minimum Balance |
|---|---|---|
| Basic Checking | $5 | $100 |
| Student Checking | $0 | $0 |
| Senior Checking | $0 | $500 |