QNB Corp. Reports Earnings for Fourth Quarter 2025
Rhea-AI Summary
QNB Corp. (OTCQX: QNBC) reported Q4 2025 net income of $3.981M ($1.06 diluted) versus $3.051M ($0.83) in Q4 2024 and FY 2025 net income of $14.09M ($3.78) versus $11.448M ($3.12) in FY 2024. Results included $619k of merger-related costs in Q4 and $1.138M for the year; adjusted diluted EPS excluding those costs was $1.22 for Q4 and $4.08 for FY 2025.
Key operating drivers: record net interest income (+$3.067M Q/QY), NIM 2.95% in Q4 (2.38% prior year), loans +$46.026M (3.8%), total assets $1.906B. QNB agreed to acquire Victory Bancorp in an all-stock deal creating ~ $2.4B pro-forma assets; closing expected Q2 2026 pending approvals.
Positive
- Q4 net income of $3.981M, up $930k year-over-year
- FY 2025 net income of $14.09M, up $2.642M year-over-year
- Net interest income increased by $3.067M for Q4 2025
- Net interest margin expanded to 2.95% in Q4 2025 from 2.38% in Q4 2024
- Loans receivable grew $46.026M (3.8%) to $1.262B
- Agreement to acquire Victory Bancorp creates a pro-forma company with ~$2.4B in assets
Negative
- Total non-interest expense rose to $10.694M in Q4 2025, up from $9.081M
- Non-interest expense increased 12.2% for the twelve months ended 12/31/2025
- Merger-related costs of $619k in Q4 (total $1.138M for year) reduced reported EPS
- Non-performing loans increased to $8.793M (0.70% of loans) from $1.975M (0.16%), driven by one commercial relationship
News Market Reaction – QNBC
On the day this news was published, QNBC gained 2.98%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
QUAKERTOWN, Pa., Jan. 27, 2026 (GLOBE NEWSWIRE) -- QNB Corp. (the “Company” or “QNB”) (OTCQX: QNBC), the parent company of QNB Bank (the “Bank”), reported net income for the fourth quarter of 2025 of
On September 23, 2025, QNB Corp. and The Victory Bancorp, Inc. ("Victory") announced they have entered into a definitive agreement under which QNB will acquire Victory in an all-stock transaction, creating a bank holding company with nearly
For the fourth quarter ended December 31, 2025, the annualized rate of return on average assets and average shareholders’ equity was
* QNB uses non-GAAP financial information in its analysis of performance. These non-GAAP ratios and calculations provide a better understanding of ongoing operations and comparability with prior period results by showing the effects of significant gains and charges in the periods presented. QNB believes that investors may use these non-GAAP measures to analyze QNB’s financial performance without the impact of unusual items or events that may obscure trends. This non-GAAP data is not a substitute for GAAP results and should be considered in addition to results prepared in accordance with GAAP. Non-GAAP financial measures include risks as companies might calculate these measures differently and persons might disagree as to the appropriateness of items included in these measures. Please see attached table "Impact of Merger-Related Costs--GAAP to Non-GAAP Measure Reconciliation."
The operating performance of the Bank, a wholly-owned subsidiary of QNB Corp., improved for the quarter ended December 31, 2025, in comparison with the same period in 2024, due primarily to improvement in the interest margin causing a
The following table presents disaggregated net income (loss):
| Three months ended, | Twelve months ended, | ||||||||||||||||||||||
| 12/31/2025 | 12/31/2024 | Variance | 12/31/2025 | 12/31/2024 | Variance | ||||||||||||||||||
| QNB Bank | $ | 5,385,000 | $ | 3,771,000 | $ | 1,614,000 | $ | 18,193,000 | $ | 12,237,000 | $ | 5,956,000 | |||||||||||
| QNB Corp | (1,404,000 | ) | (720,000 | ) | (684,000 | ) | (4,103,000 | ) | (789,000 | ) | (3,314,000 | ) | |||||||||||
| Consolidated net income | $ | 3,981,000 | $ | 3,051,000 | $ | 930,000 | $ | 14,090,000 | $ | 11,448,000 | $ | 2,642,000 | |||||||||||
Total assets as of December 31, 2025 were
"We are proud to report another quarter of improved operating performance, highlighted by record net interest income, strong margin expansion, and continued loan growth. These results demonstrate the resilience of our customers and the dedication of our team. The upcoming merger with Victory Bancorp, which is pending regulatory and shareholder approval, represents a pivotal step forward, enabling us to deepen our community impact and create greater opportunities for our shareholders and customers alike." said Dave Freeman, President and Chief Executive Officer.
Net Interest Income and Net Interest Margin
Net interest income for the quarter ended December 31, 2025 totaled
The yield on earning assets was
The cost of interest-bearing liabilities was
Proceeds from the growth in average deposits and the issuance of subordinated debt over the past year were invested in loans and higher-yielding securities. Loan growth was primarily in commercial real estate, which comprised
Asset Quality, Provision for Credit Losses on Loans and Allowance for Credit Losses
QNB recorded a
Total non-performing loans, which represent loans on non-accrual status and loans past due 90 days or more and still accruing interest, were
Non-Interest Income
Total non-interest income was
Fees for service to customers increased
For the twelve months ended December 31, 2025, non-interest income was
Non-Interest Expense
Total non-interest expense was
Net occupancy and furniture and equipment expense decreased
For the twelve months ended December 31, 2025, non-interest expense was
Income Taxes
Provision for income taxes increased
About the Company
QNB Corp. is the holding company for QNB Bank, which is headquartered in Quakertown, Pennsylvania. QNB Bank currently operates twelve branches in Bucks, Lehigh and Montgomery Counties and offers commercial and retail banking services in the communities it serves. In addition, the Company provides securities and advisory services under the name of QNB Financial Services through a registered Broker/Dealer and Registered Investment Advisor, and title insurance as a member of Laurel Abstract Company LLC. More information about QNB Corp. and QNB Bank is available at QNBBank.com.
Forward Looking Statement
This press release may contain forward-looking statements as defined in the Private Securities Litigation Act of 1995. Actual results and trends could differ materially from those set forth in such statements due to various factors. Such factors include the possibility that increased demand or prices for the Company’s financial services and products may not occur, changing economic and competitive conditions, technological developments, and other risks and uncertainties, including those detailed in the Company’s filings with the Securities and Exchange Commission, including "Item lA. Risk Factors," set forth in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2024. You should not place undue reliance on any forward-looking statements. These statements speak only as of the date of this press release, even if subsequently made available by the Company on its website or otherwise. The Company undertakes no obligation to update or revise these statements to reflect events or circumstances occurring after the date of this press release.
| Contacts: | David W. Freeman | Jeffrey Lehocky |
| President & Chief Executive Officer | Chief Financial Officer | |
| 215-538-5600 x-5619 | 215-538-5600 x-5716 | |
| dfreeman@QNBbank.com | jlehocky@QNBbank.com |
| QNB Corp. | |||||||||||||||
| Consolidated Selected Financial Data (unaudited) | |||||||||||||||
| (Dollars in thousands) | |||||||||||||||
| Balance Sheet (Period End) | 12/31/25 | 9/30/25 | 6/30/25 | 3/31/25 | 12/31/24 | ||||||||||
| Assets | $ | 1,906,005 | $ | 1,903,244 | $ | 1,884,828 | $ | 1,896,189 | $ | 1,870,894 | |||||
| Cash and cash equivalents | 50,297 | 66,331 | 66,471 | 81,557 | 50,713 | ||||||||||
| Investment securities | |||||||||||||||
| Debt securities, AFS | 542,830 | 538,318 | 544,262 | 547,138 | 546,559 | ||||||||||
| Equity securities | — | — | — | — | — | ||||||||||
| Loans held-for-sale | 246 | — | 1,166 | 248 | 664 | ||||||||||
| Loans receivable | 1,262,074 | 1,246,529 | 1,218,539 | 1,212,162 | 1,216,048 | ||||||||||
| Allowance for credit losses on loans | (9,215 | ) | (9,255 | ) | (9,169 | ) | (9,298 | ) | (8,744 | ) | |||||
| Net loans | 1,252,859 | 1,237,274 | 1,209,370 | 1,202,864 | 1,207,304 | ||||||||||
| Deposits | 1,642,511 | 1,681,540 | 1,651,667 | 1,664,555 | 1,628,541 | ||||||||||
| Demand, non-interest bearing | 189,957 | 189,492 | 201,460 | 203,666 | 183,499 | ||||||||||
| Interest-bearing demand, money market and savings | 1,076,757 | 1,104,761 | 1,060,688 | 1,083,011 | 1,063,584 | ||||||||||
| Time | 375,797 | 387,287 | 389,519 | 377,878 | 381,458 | ||||||||||
| Short-term borrowings | 80,601 | 48,703 | 67,464 | 43,299 | 53,844 | ||||||||||
| Long-term debt | — | — | — | 30,000 | 30,000 | ||||||||||
| Subordinated debt | 39,268 | 39,218 | 39,168 | 39,118 | 39,068 | ||||||||||
| Shareholders' equity | 129,563 | 121,487 | 113,269 | 108,223 | 103,349 | ||||||||||
| Asset Quality Data (Period End) | |||||||||||||||
| Non-accrual loans | $ | 8,793 | $ | 8,947 | $ | 8,947 | $ | 8,651 | $ | 1,975 | |||||
| Loans past due 90 days or more and still accruing | — | — | — | — | — | ||||||||||
| Non-performing loans | 8,793 | 8,947 | 8,947 | 8,651 | 1,975 | ||||||||||
| Other real estate owned and repossessed assets | — | — | — | — | — | ||||||||||
| Non-performing assets | $ | 8,793 | $ | 8,947 | $ | 8,947 | $ | 8,651 | $ | 1,975 | |||||
| Allowance for credit losses on loans | $ | 9,215 | $ | 9,255 | $ | 9,169 | $ | 9,298 | $ | 8,744 | |||||
| Non-performing loans / Loans excluding held-for-sale | 0.70 | % | 0.72 | % | 0.73 | % | 0.71 | % | 0.16 | % | |||||
| Non-performing assets / Assets | 0.46 | % | 0.47 | % | 0.47 | % | 0.46 | % | 0.11 | % | |||||
| Allowance for credit losses on loans / Loans excluding held-for-sale | 0.73 | % | 0.74 | % | 0.75 | % | 0.77 | % | 0.72 | % | |||||
| QNB Corp. | ||||||||||||||||||||||
| Consolidated Selected Financial Data (unaudited) | ||||||||||||||||||||||
| (Dollars in thousands, except per share data) | Three months ended, | Twelve months ended, | ||||||||||||||||||||
| For the period: | 12/31/25 | 9/30/25 | 6/30/25 | 3/31/25 | 12/31/24 | 12/31/25 | 12/31/24 | |||||||||||||||
| Interest income | $ | 23,812 | $ | 23,518 | $ | 23,110 | $ | 22,198 | $ | 22,209 | $ | 92,638 | $ | 84,068 | ||||||||
| Interest expense | 9,770 | 10,520 | 10,458 | 10,661 | 11,234 | 41,409 | 41,206 | |||||||||||||||
| Net interest income | 14,042 | 12,998 | 12,652 | 11,537 | 10,975 | 51,229 | 42,862 | |||||||||||||||
| (Reversal of) provision for credit losses | (48 | ) | 93 | (146 | ) | 550 | (255 | ) | 449 | (68 | ) | |||||||||||
| Net interest income after provision for credit losses | 14,090 | 12,905 | 12,798 | 10,987 | 11,230 | 50,780 | 42,930 | |||||||||||||||
| Non-interest income: | ||||||||||||||||||||||
| Fees for services to customers | 533 | 521 | 485 | 447 | 454 | 1,986 | 1,770 | |||||||||||||||
| ATM and debit card | 835 | 776 | 724 | 656 | 708 | 2,991 | 2,740 | |||||||||||||||
| Retail brokerage and advisory income | 171 | 196 | 140 | 141 | 118 | 648 | 476 | |||||||||||||||
| Net realized gain (loss) on investment securities | — | — | — | — | 1,414 | — | 919 | |||||||||||||||
| Unrealized (loss) gain on equity securities | — | — | — | — | (1,344 | ) | — | (215 | ) | |||||||||||||
| Net (loss) gain on sale of loans | — | 41 | 4 | 18 | (3 | ) | 63 | 29 | ||||||||||||||
| Other | 335 | 313 | 299 | 322 | 298 | 1,269 | 1,194 | |||||||||||||||
| Total non-interest income | 1,874 | 1,847 | 1,652 | 1,584 | 1,645 | 6,957 | 6,913 | |||||||||||||||
| Non-interest expense: | ||||||||||||||||||||||
| Salaries and employee benefits | 5,730 | 5,248 | 5,251 | 5,032 | 5,079 | 21,261 | 19,741 | |||||||||||||||
| Net occupancy and furniture and equipment | 1,649 | 1,688 | 1,681 | 1,736 | 1,653 | 6,754 | 6,180 | |||||||||||||||
| Merger-related expense | 619 | 519 | — | — | — | 1,138 | — | |||||||||||||||
| Other | 2,696 | 2,727 | 2,630 | 2,601 | 2,349 | 10,654 | 9,563 | |||||||||||||||
| Total non-interest expense | 10,694 | 10,182 | 9,562 | 9,369 | 9,081 | 39,807 | 35,484 | |||||||||||||||
| Income before income taxes | 5,270 | 4,570 | 4,888 | 3,202 | 3,794 | 17,930 | 14,359 | |||||||||||||||
| Provision for income taxes | 1,289 | 922 | 1,005 | 624 | 743 | 3,840 | 2,911 | |||||||||||||||
| Net income | $ | 3,981 | $ | 3,648 | $ | 3,883 | $ | 2,578 | $ | 3,051 | $ | 14,090 | $ | 11,448 | ||||||||
| Share and Per Share Data: | ||||||||||||||||||||||
| Net income - basic | $ | 1.07 | $ | 0.98 | $ | 1.05 | $ | 0.70 | $ | 0.83 | $ | 3.79 | $ | 3.12 | ||||||||
| Net income - diluted | $ | 1.06 | $ | 0.98 | $ | 1.04 | $ | 0.69 | $ | 0.83 | $ | 3.78 | $ | 3.12 | ||||||||
| Book value | $ | 34.65 | $ | 32.59 | $ | 30.46 | $ | 29.17 | $ | 27.96 | $ | 34.65 | $ | 27.96 | ||||||||
| Cash dividends | $ | 0.38 | $ | 0.38 | $ | 0.38 | $ | 0.38 | $ | 0.37 | $ | 1.52 | $ | 1.48 | ||||||||
| Average common shares outstanding -basic | 3,730,591 | 3,721,501 | 3,710,878 | 3,699,854 | 3,688,078 | 3,715,806 | 3,672,251 | |||||||||||||||
| Average common shares outstanding -diluted | 3,745,230 | 3,735,993 | 3,724,808 | 3,713,141 | 3,695,518 | 3,729,246 | 3,673,697 | |||||||||||||||
| Selected Ratios: | ||||||||||||||||||||||
| Return on average asset(1) | 0.83 | % | 0.76 | % | 0.83 | % | 0.56 | % | 0.66 | % | 0.74 | % | 0.65 | % | ||||||||
| Return on average shareholders' equity(1) | 12.52 | % | 12.49 | % | 14.25 | % | 9.73 | % | 11.62 | % | 12.28 | % | 11.78 | % | ||||||||
| Net interest margin (tax equivalent) | 2.95 | % | 2.72 | % | 2.69 | % | 2.51 | % | 2.38 | % | 2.72 | % | 2.43 | % | ||||||||
| Efficiency ratio (tax equivalent) | 66.79 | % | 68.09 | % | 66.39 | % | 70.65 | % | 71.16 | % | 67.89 | % | 70.50 | % | ||||||||
| Average shareholders' equity to total average assets | 6.64 | % | 6.09 | % | 5.79 | % | 5.74 | % | 5.65 | % | 6.07 | % | 5.49 | % | ||||||||
| Net loan (recoveries) charge-offs | $ | (4 | ) | $ | 12 | $ | (16 | ) | $ | (3 | ) | $ | 1 | $ | (11 | ) | $ | 59 | ||||
| Net loan (recoveries) charge-offs-annualized / Average loans excluding held-for-sale | 0.00 | % | 0.00 | % | -0.01 | % | 0.00 | % | 0.00 | % | 0.00 | % | 0.01 | % | ||||||||
| Balance Sheet (Average) | ||||||||||||||||||||||
| Assets(1) | $ | 1,901,870 | $ | 1,904,529 | $ | 1,887,138 | $ | 1,872,950 | $ | 1,848,524 | $ | 1,891,737 | $ | 1,770,563 | ||||||||
| Investment securities | 604,727 | 612,204 | 621,128 | 614,329 | 552,323 | 616,084 | 578,626 | |||||||||||||||
| Loans receivable | 1,249,481 | 1,224,490 | 1,216,011 | 1,193,949 | 1,158,731 | 1,225,178 | 1,150,489 | |||||||||||||||
| Deposits | 1,671,921 | 1,678,118 | 1,647,990 | 1,635,629 | 1,600,925 | 1,657,968 | 1,569,494 | |||||||||||||||
| Shareholders' equity(1) | 126,202 | 115,907 | 109,299 | 107,503 | 104,433 | 114,782 | 97,217 | |||||||||||||||
| (1) In 2025, the Company changed its calculation of average assets and average equity to include the impact of accumulated other comprehensive income (loss), net of tax, to align its calculation with its peer group. Prior period information has been restated for this new calculation; specifically impacting the non-GAAP performance ratios for return on average assets and return on average equity. | ||||||||||||||||||||||
| QNB Corp. (Consolidated) | |||||||||||||||||||
| Average Balances, Rate, and Interest Income and Expense Summary (Tax-Equivalent Basis) | |||||||||||||||||||
| Three Months Ended | |||||||||||||||||||
| 12/31/2025 | December 31, 2024 | ||||||||||||||||||
| Average | Average | Average | Average | ||||||||||||||||
| Balance | Rate | Interest | Balance | Rate | Interest | ||||||||||||||
| Assets | |||||||||||||||||||
| Investment securities: | |||||||||||||||||||
| U.S. Treasury | $ | 21,210 | 3.95 | % | $ | 211 | $ | 20,207 | 4.86 | % | $ | 247 | |||||||
| U.S. Government agencies | 75,967 | 1.18 | 224 | 75,958 | 1.18 | 224 | |||||||||||||
| State and municipal | 104,783 | 2.57 | 672 | 105,522 | 2.89 | 763 | |||||||||||||
| Mortgage-backed and CMOs | 334,199 | 2.23 | 1,864 | 364,229 | 2.55 | 2,318 | |||||||||||||
| Corporate debt securities and mutual funds | 68,568 | 6.37 | 1,092 | 47,774 | 5.78 | 691 | |||||||||||||
| Equities | — | — | — | 639 | 4.30 | 7 | |||||||||||||
| Total investment securities | 604,727 | 2.69 | 4,063 | 614,329 | 2.77 | 4,250 | |||||||||||||
| Loans: | |||||||||||||||||||
| Commercial real estate | 896,799 | 6.22 | 14,065 | 845,700 | 5.69 | 12,104 | |||||||||||||
| Residential real estate | 118,088 | 4.63 | 1,368 | 112,872 | 4.27 | 1,205 | |||||||||||||
| Home equity loans | 75,310 | 6.15 | 1,169 | 68,735 | 6.76 | 1,168 | |||||||||||||
| Commercial and industrial | 135,271 | 7.13 | 2,431 | 144,528 | 7.39 | 2,685 | |||||||||||||
| Consumer loans | 3,085 | 7.86 | 61 | 3,505 | 9.16 | 81 | |||||||||||||
| Tax-exempt loans | 20,936 | 4.58 | 242 | 18,799 | 4.00 | 189 | |||||||||||||
| Total loans, net of unearned income* | 1,249,489 | 6.14 | 19,336 | 1,194,139 | 5.81 | 17,432 | |||||||||||||
| Other earning assets | 49,850 | 4.07 | 511 | 52,988 | 5.02 | 669 | |||||||||||||
| Total earning assets | 1,904,066 | 4.98 | 23,910 | 1,861,456 | 4.78 | 22,351 | |||||||||||||
| Cash and due from banks | 13,625 | 13,747 | |||||||||||||||||
| Accumulated other comprehensive loss, net of tax | (49,245 | ) | (60,390 | ) | |||||||||||||||
| Allowance for credit losses on loans | (9,251 | ) | (9,166 | ) | |||||||||||||||
| Other assets | 42,675 | 42,877 | |||||||||||||||||
| Total assets | $ | 1,901,870 | $ | 1,848,524 | |||||||||||||||
| Liabilities and Shareholders' Equity | |||||||||||||||||||
| Interest-bearing deposits: | |||||||||||||||||||
| Interest-bearing demand | $ | 390,228 | 0.96 | % | 941 | $ | 373,270 | 1.05 | % | 982 | |||||||||
| Municipals | 161,676 | 3.47 | 1,413 | 166,210 | 4.32 | 1,807 | |||||||||||||
| Money market | 264,568 | 2.67 | 1,780 | 251,758 | 3.14 | 1,985 | |||||||||||||
| Savings | 278,339 | 1.28 | 898 | 273,473 | 1.28 | 882 | |||||||||||||
| Time < | 169,545 | 3.32 | 1,421 | 177,265 | 4.00 | 1,781 | |||||||||||||
| Time | 149,798 | 3.67 | 1,388 | 156,535 | 4.52 | 1,780 | |||||||||||||
| Time > | 57,776 | 3.76 | 547 | 46,783 | 4.57 | 538 | |||||||||||||
| Total interest-bearing deposits | 1,471,930 | 2.26 | 8,388 | 1,445,294 | 2.69 | 9,755 | |||||||||||||
| Short-term borrowings | 50,752 | 3.47 | 444 | 20,667 | 2.65 | 138 | |||||||||||||
| Long-term debt | — | — | — | 33,261 | 4.75 | 404 | |||||||||||||
| Subordinated debt | 39,241 | 9.35 | 938 | 39,045 | 9.39 | 937 | |||||||||||||
| Total borrowings | 89,993 | 6.09 | 1,382 | 92,973 | 6.33 | 1,479 | |||||||||||||
| Total interest-bearing liabilities | 1,561,923 | 2.48 | 9,770 | 1,538,267 | 2.91 | 11,234 | |||||||||||||
| Non-interest-bearing deposits | 199,991 | 190,335 | |||||||||||||||||
| Other liabilities | 13,754 | 15,489 | |||||||||||||||||
| Shareholders' equity | 126,202 | 104,433 | |||||||||||||||||
| Total liabilities and | |||||||||||||||||||
| shareholders' equity | $ | 1,901,870 | $ | 1,848,524 | |||||||||||||||
| Net interest rate spread | 2.50 | % | 1.87 | % | |||||||||||||||
| Margin/net interest income | 2.95 | % | $ | 14,140 | 2.38 | % | $ | 11,117 | |||||||||||
| Tax-exempt securities and loans were adjusted to a tax-equivalent basis and are based on the Federal corporate tax rate of | |||||||||||||||||||
| Non-accrual loans and investment securities are included in earning assets. | |||||||||||||||||||
| * Includes loans held-for-sale | |||||||||||||||||||
| QNB Corp. (Consolidated) | |||||||||||||||||||
| Average Balances, Rate, and Interest Income and Expense Summary (Tax-Equivalent Basis) | |||||||||||||||||||
| Twelve Months Ended | |||||||||||||||||||
| December 31, 2025 | December 31, 2024 | ||||||||||||||||||
| Average | Average | Average | Average | ||||||||||||||||
| Balance | Rate | Interest | Balance | Rate | Interest | ||||||||||||||
| Assets | |||||||||||||||||||
| Investment securities: | |||||||||||||||||||
| U.S. Treasury | $ | 20,741 | 4.18 | % | $ | 867 | $ | 11,682 | 5.00 | % | $ | 584 | |||||||
| U.S. Government agencies | 75,964 | 1.18 | 896 | 80,332 | 1.17 | 942 | |||||||||||||
| State and municipal | 105,014 | 2.80 | 2,936 | 106,806 | 3.39 | 3,623 | |||||||||||||
| Mortgage-backed and CMOs | 349,007 | 2.41 | 8,408 | 357,977 | 2.68 | 9,580 | |||||||||||||
| Corporate debt securities and mutual funds | 65,358 | 6.42 | 4,198 | 17,560 | 5.76 | 1,012 | |||||||||||||
| Equities | — | — | — | 4,269 | 3.88 | 166 | |||||||||||||
| Total investment securities | 616,084 | 2.81 | 17,305 | 578,626 | 2.75 | 15,907 | |||||||||||||
| Loans: | |||||||||||||||||||
| Commercial real estate | 875,917 | 5.96 | 52,194 | 810,525 | 5.53 | 44,805 | |||||||||||||
| Residential real estate | 115,890 | 4.47 | 5,177 | 110,320 | 4.12 | 4,542 | |||||||||||||
| Home equity loans | 71,280 | 6.32 | 4,508 | 65,714 | 6.81 | 4,475 | |||||||||||||
| Commercial and industrial | 139,423 | 7.35 | 10,248 | 141,998 | 7.52 | 10,682 | |||||||||||||
| Consumer loans | 3,266 | 7.82 | 255 | 3,635 | 8.12 | 295 | |||||||||||||
| Tax-exempt loans | 19,682 | 4.32 | 850 | 18,507 | 3.90 | 721 | |||||||||||||
| Total loans, net of unearned income* | 1,225,458 | 5.98 | 73,232 | 1,150,699 | 5.69 | 65,520 | |||||||||||||
| Other earning assets | 58,275 | 4.37 | 2,548 | 59,734 | 5.36 | 3,199 | |||||||||||||
| Total earning assets | 1,899,817 | 4.90 | 93,085 | 1,789,059 | 4.73 | 84,626 | |||||||||||||
| Cash and due from banks | 14,186 | 13,847 | |||||||||||||||||
| Accumulated other comprehensive loss, net of tax | (56,407 | ) | (65,087 | ) | |||||||||||||||
| Allowance for credit losses on loans | (9,140 | ) | (8,965 | ) | |||||||||||||||
| Other assets | 43,281 | 41,709 | |||||||||||||||||
| Total assets | $ | 1,891,737 | $ | 1,770,563 | |||||||||||||||
| Liabilities and Shareholders' Equity | |||||||||||||||||||
| Interest-bearing deposits: | |||||||||||||||||||
| Interest-bearing demand | $ | 381,199 | 0.97 | % | 3,706 | $ | 346,590 | 0.93 | % | 3,225 | |||||||||
| Municipals | 159,245 | 3.76 | 5,993 | 146,446 | 4.64 | 6,794 | |||||||||||||
| Money market | 259,201 | 2.82 | 7,312 | 237,071 | 3.45 | 8,181 | |||||||||||||
| Savings | 279,212 | 1.29 | 3,591 | 285,011 | 1.28 | 3,651 | |||||||||||||
| Time < | 176,438 | 3.57 | 6,291 | 170,998 | 3.98 | 6,808 | |||||||||||||
| Time | 154,087 | 3.95 | 6,088 | 145,022 | 4.53 | 6,570 | |||||||||||||
| Time > | 53,694 | 4.01 | 2,152 | 49,831 | 4.51 | 2,247 | |||||||||||||
| Total interest-bearing deposits | 1,463,076 | 2.40 | 35,133 | 1,380,969 | 2.71 | 37,476 | |||||||||||||
| Short-term borrowings | 56,582 | 3.72 | 2,103 | 48,526 | 2.37 | 1,148 | |||||||||||||
| Long-term debt | 8,795 | 4.74 | 423 | 27,869 | 4.67 | 1,322 | |||||||||||||
| Subordinated debt | 39,167 | 9.44 | 3,750 | 13,262 | 9.34 | 1,260 | |||||||||||||
| Total borrowings | 104,544 | 6.00 | 6,276 | 89,657 | 4.16 | 3,730 | |||||||||||||
| Total interest-bearing liabilities | 1,567,620 | 2.64 | 41,409 | 1,470,626 | 2.80 | 41,206 | |||||||||||||
| Non-interest-bearing deposits | 194,892 | 188,525 | |||||||||||||||||
| Other liabilities | 14,443 | 14,195 | |||||||||||||||||
| Shareholders' equity | 114,782 | 97,217 | |||||||||||||||||
| Total liabilities and | |||||||||||||||||||
| shareholders' equity | $ | 1,891,737 | $ | 1,770,563 | |||||||||||||||
| Net interest rate spread | 2.26 | % | 1.93 | % | |||||||||||||||
| Margin/net interest income | 2.72 | % | $ | 51,676 | 2.43 | % | $ | 43,420 | |||||||||||
| Tax-exempt securities and loans were adjusted to a tax-equivalent basis and are based on the Federal corporate tax rate of | |||||||||||||||||||
| Non-accrual loans and investment securities are included in earning assets. | |||||||||||||||||||
| * Includes loans held-for-sale | |||||||||||||||||||
| QNB Corp. | |||||||||||||||||||||||
| Consolidated Selected Financial Data (unaudited) | |||||||||||||||||||||||
| Impact of Merger-Related Costs--GAAP to Non-GAAP Measure Reconciliation | |||||||||||||||||||||||
| (Dollars in thousands, except per share data) | |||||||||||||||||||||||
| Three months ended, | Twelve months ended, | ||||||||||||||||||||||
| For the period: | 12/31/2025 | 12/31/2024 | Variance | 12/31/2025 | 12/31/2024 | Variance | |||||||||||||||||
| Net income (GAAP) | $ | 3,981 | $ | 3,051 | $ | 930 | $ | 14,090 | $ | 11,448 | $ | 2,642 | |||||||||||
| Merger-related costs | 619 | — | 619 | 1,138 | — | 1,138 | |||||||||||||||||
| Income tax benefit | (27 | ) | — | (27 | ) | (27 | ) | — | (27 | ) | |||||||||||||
| Merger-related costs, net of tax | 592 | — | 592 | 1,111 | — | 1,111 | |||||||||||||||||
| Net income excluding impact of merger-related costs (Non-GAAP) | $ | 4,573 | $ | 3,051 | $ | 1,522 | $ | 15,201 | $ | 11,448 | $ | 3,753 | |||||||||||
| Share and Earnings Per Share (EPS) Data: | |||||||||||||||||||||||
| Basic: | |||||||||||||||||||||||
| EPS using Net income (GAAP) | $ | 1.07 | $ | 0.83 | $ | 0.24 | $ | 3.79 | $ | 3.12 | $ | 0.67 | |||||||||||
| EPS using Net income excluding impact of merger-related costs (Non-GAAP) | $ | 1.22 | $ | 0.83 | $ | 0.39 | $ | 4.08 | $ | 3.12 | $ | 0.96 | |||||||||||
| Fully-diluted: | |||||||||||||||||||||||
| EPS using Net income (GAAP) | $ | 1.06 | $ | 0.83 | $ | 0.23 | $ | 3.78 | $ | 3.12 | $ | 0.66 | |||||||||||
| EPS using Net income excluding impact of merger-related costs (Non-GAAP) | $ | 1.22 | $ | 0.83 | $ | 0.39 | $ | 4.08 | $ | 3.12 | $ | 0.96 | |||||||||||
| Average common shares outstanding -basic | 3,730,591 | 3,688,078 | 3,715,806 | 3,672,251 | |||||||||||||||||||
| Average common shares outstanding -diluted | 3,745,230 | 3,695,518 | 3,729,246 | 3,673,697 | |||||||||||||||||||
| Selected Ratios: | |||||||||||||||||||||||
| Return on Average Assets (ROAA): | |||||||||||||||||||||||
| ROAA using Net income (GAAP) | 0.83 | % | 0.66 | % | 17 bp | 0.74 | % | 0.65 | % | 9 bp | |||||||||||||
| ROAA using Net income excluding impact of merger-related costs (Non-GAAP) | 0.95 | % | 0.66 | % | 29 bp | 0.80 | % | 0.65 | % | 15 bp | |||||||||||||
| Return on Average Equity (ROAE): | |||||||||||||||||||||||
| ROAE using Net income (GAAP) | 12.52 | % | 11.62 | % | 90 bp | 12.28 | % | 11.78 | % | 50 bp | |||||||||||||
| ROAE using Net income excluding impact of merger-related costs (Non-GAAP) | 14.38 | % | 11.62 | % | 276 bp | 13.24 | % | 11.78 | % | 146 bp | |||||||||||||
FAQ
What did QNBC report for Q4 2025 net income and EPS?
How did QNB's net interest margin perform in Q4 2025 (OTCQX: QNBC)?
What is the expected timing and scale of QNB's acquisition of Victory Bancorp (QNBC)?
How much did QNB's loans and total assets change by December 31, 2025?
What merger-related costs affected QNB's 2025 results and adjusted EPS?
Did QNB report any material asset quality changes in Q4 2025?
