QNB Corp. Reports Earnings for Third Quarter 2025
QNB Corp. (OTCQX: QNBC) reported Q3 2025 net income of $3.65M ($0.98 diluted) and YTD net income of $10.11M ($2.72 diluted). Nine‑month results rose ~20.4% vs. prior year and include $519,000 of one‑time merger-related costs; adjusted diluted EPS excluding those costs was $1.09 (Q3) and $2.83 (YTD).
Key operating drivers: net interest income strength (NII up ~$2.46M; NIM 2.72% Q3 vs 2.48% LY) and loan growth to $1.247B. Balance sheet: assets $1.903B; deposits $1.682B. QNB announced an all‑stock acquisition of Victory Bancorp creating a combined company with nearly $2.4B in assets, expected to close Q4 2025–Q1 2026, subject to approvals.
QNB Corp. (OTCQX: QNBC) ha riportato nel terzo trimestre 2025 un utile netto di 3,65 milioni di dollari (0,98 dollari diluito) e un utile netto da inizio anno di 10,11 milioni di dollari (2,72 dollari diluiti). I risultati dei primi nove mesi sono aumentati di circa 20,4% rispetto all'anno precedente e includono 519.000 dollari di costi una tantum legati alla fusione; l'EPS diluito rettificato escludendo tali costi è stato 1,09 dollari (Q3) e 2,83 dollari (YTD).
Principali driver operativi: forza del net interest income (NII) (NII in aumento di circa 2,46 milioni; NIM 2,72% nel Q3 vs 2,48% LY) e crescita dei prestiti fino a 1,247 miliardi di dollari. Stato patrimoniale: attività 1,903 miliardi; depositi 1,682 miliardi. QNB ha annunciato un'acquisizione interamente azionaria di Victory Bancorp, creando una compagnia combinata con quasi 2,4 miliardi di attività, prevista per chiudere nel Q4 2025–Q1 2026, soggetta alle approvazioni.
QNB Corp. (OTCQX: QNBC) reportó el ingreso neto del 3T 2025 de $3.65M ($0.98 diluido) y ingreso neto acumulado del año hasta la fecha de $10.11M ($2.72 diluido). Los resultados de los nueve meses aumentaron ~20.4% frente al año anterior e incluyen $519,000 de costos únicos relacionados con la fusión; el EPS diluido ajustado, excluyendo esos costos, fue $1.09 (3T) y $2.83 (YTD).
Impulsores operativos clave: fortaleza del net interest income (NII) (NII sube ~$2.46M; NIM 2.72% en 3T frente a 2.48% LY) y crecimiento de préstamos a $1.247B. Balance: activos $1.903B; depósitos $1.682B. QNB anunció una adquisición 100% en acciones de Victory Bancorp, creando una empresa combinada con casi $2.4B en activos, con cierre esperado en Q4 2025–Q1 2026, sujeto a aprobaciones.
QNB Corp. (OTCQX: QNBC)는 2025년 3분기 순이익 365만 달러 (희석주당 0.98) 및 연간 누적 순이익 1011만 달러 (희석주당 2.72)을 보고했습니다. 9개월 실적은 전년 대비 약 20.4% 상승했으며, 합병 관련 일회성 비용 $519,000을 포함합니다; 그 비용을 제외한 조정 희석 EPS는 3Q: $1.09, YTD: $2.83입니다.
주요 작동 동인: 순이자이익(NII) 강세( NII 약 $2.46M 증가; Q3 NIM 2.72% 대 LY 2.48%) 및 대출 성장 $1.247B. 대차대조표: 자산 $1.903B; 예치금 $1.682B. QNB는 Victory Bancorp를 전량 현금이 아닌 주식으로 인수하는 합병을 발표하여 자산이 거의 $2.4B인 결합 회사를 만들고, 2025년 4분기~2026년 1분기 사이 마무리될 예정이며, 승인에 따름.
QNB Corp. (OTCQX: QNBC) a déclaré un résultat net du T3 2025 de 3,65 M$ (0,98$ dilué) et un résultat net cumulatif sur l'année à ce jour de 10,11 M$ (2,72$ dilués). Les résultats des neuf premiers mois ont augmenté d'environ 20,4% par rapport à l'année précédente et incluent 519 000 $ de coûts uniques liés à la fusion; l'EPS dilué ajusté excluant ces coûts était 1,09 $ (T3) et 2,83 $ (YTD).
Leaders opérationnels clés: la force du net interest income (NII) (NII en hausse d'environ 2,46 M$, NIM 2,72% au T3 vs 2,48% LY) et la croissance des prêts à 1,247 Md$. Bilan: actifs 1,903 Md$; dépôts 1,682 Md$. QNB a annoncé une acquisition par échange d'actions de Victory Bancorp, créant une société combinée avec près de 2,4 Md$ d'actifs, dont la finalisation est prévue au T4 2025–T1 2026, sous réserve des approbations.
QNB Corp. (OTCQX: QNBC) meldete einen Nettogewinn im Q3 2025 von 3,65 Mio. USD (0,98 USD verwässert) und einen Nettogewinn Year-to-Date von 10,11 Mio. USD (2,72 USD verwässert). Die Neun-Monats-Ergebnisse stiegen um ca. 20,4% gegenüber dem Vorjahr und beinhalten 519.000 USD an einmaligen Fusionkosten; bereinigtes verwässertes EPS ohne diese Kosten betrug 1,09 USD (Q3) bzw. 2,83 USD (YTD).
Wichtige operative Treiber: Stärke des Net Interest Income (NII) (NII steigt um ca. 2,46 Mio.; NIM 2,72% Q3 vs 2,48% LY) und Kreditwachstum auf 1,247 Md USD. Bilanz: Vermögenswerte 1,903 Md USD; Einlagen 1,682 Md USD. QNB kündigte eine rein akkumulationsbasierte Übernahme von Victory Bancorp an, wodurch ein kombiniertes Unternehmen mit nahezu 2,4 Md USD Vermögenswerten entsteht, voraussichtlicher Abschluss Q4 2025–Q1 2026, vorbehaltlich Genehmigungen.
QNB Corp. (OTCQX: QNBC) أبلغت عن صافي دخل للربع الثالث 2025 قدره 3.65 مليون دولار (مخفف السهم 0.98) و صافي دخل للسنة حتى تاريخه قدره 10.11 مليون دولار (مخفف السهم 2.72). نتائج التسعة أشهر ارتفعت بنحو ~20.4% مقارنة بالعام السابق وتشمل 519,000 دولار من تكاليف الدمج لمرة واحدة؛ كان EPS المعدل المخفف باستثناء تلك التكاليف 1.09 دولار (Q3) و 2.83 دولار (YTD).
محركات التشغيل الأساسية: قوة صافي دخل الفائدة (NII) (ارتفاع NII بنحو 2.46 مليون؛ هامش العائد على الفوائد NIM 2.72% في Q3 مقابل 2.48% LY) ونمو القروض إلى 1.247 مليار دولار. الميزانية العمومية: الأصول 1.903 مليار دولار؛ الودائع 1.682 مليار دولار. أعلنت QNB عن استحواذ بالأسهم بالكامل على Victory Bancorp، مكوّنة شركة مدمجة تملك تقريباً 2.4 مليار دولار من الأصول، من المتوقع إغلاقها في الربع الرابع 2025 – الربع الأول 2026، رهناً بالموافقات.
QNB Corp. (OTCQX: QNBC) 报告了 2025 年第三季度净利润 365 万美元（稀释后 0.98 美元）以及 年初至今净利润 1011 万美元（稀释后 2.72 美元）。九个月业绩较上年增长约 20.4%，其中包含与并购相关的一次性成本 $519,000；不包括这些成本的经调整的稀释每股收益为 1.09 美元（Q3）和 2.83 美元（YTD）。
关键经营驱动因素：净息收入（NII）表现强劲（NII 增加约 246 万美元；NIM Q3 为 2.72%， LY 为 2.48%）以及贷款增长至 12.47 亿美元。资产负债表：资产 19.03 亿美元；存款 16.82 亿美元。QNB 宣布以全股收购 Victory Bancorp，合并后公司资产将接近 24 亿美元，预计在 2025 年第四季度至 2026 年第一季度之间完成，需经批准。
- Nine‑month net income up 20.4% year‑over‑year to $10.11M
- Net interest income increased by $2.46M for Q3 2025
- Pro‑forma combined assets of nearly $2.4B after proposed Victory merger
- Loans grew 2.5% to $1.246B; deposits up 3.3% to $1.682B
- Non‑interest expense rose to $10.18M in Q3, a 17.9% increase versus Q3 2024
- Merger‑related one‑time costs of $519,000 reduced reported earnings
- Non‑performing loans increased to $8.95M (0.72% of loans) from $1.98M at year‑end 2024
QUAKERTOWN, Pa., Oct. 28, 2025 (GLOBE NEWSWIRE) -- QNB Corp. (the “Company” or “QNB”) (OTCQX: QNBC), the parent company of QNB Bank (the “Bank”), reported net income for the third 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 third quarter ended September 30, 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 September 30, 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, | Nine months ended, | ||||||||||||||||||||||
| 9/30/2025 | 9/30/2024 | Variance | 9/30/2025 | 9/30/2024 | Variance | ||||||||||||||||||
| QNB Bank | $ | 4,837,000 | $ | 3,394,000 | $ | 1,443,000 | $ | 12,808,000 | $ | 8,466,000 | $ | 4,342,000 | |||||||||||
| QNB Corp | (1,189,000 | ) | (56,000 | ) | (1,133,000 | ) | (2,699,000 | ) | (69,000 | ) | (2,630,000 | ) | |||||||||||
| Consolidated net income | $ | 3,648,000 | $ | 3,338,000 | $ | 310,000 | $ | 10,109,000 | $ | 8,397,000 | $ | 1,712,000 | |||||||||||
Total assets as of September 30, 2025 were
“We are pleased to share another quarter of strong performance, fueled by sustained growth in Net Interest Income and continued increases in both loan and deposit balances, said Dave Freeman, President and Chief Executive Officer. Freeman continued, our stable credit environment reflects the continued resilience of consumers and businesses as they adapt to ongoing economic pressures, including tariffs and inflation. This quarter also marked a pivotal milestone for our company with the announcement of our strategic merger with Victory Bancorp. This exciting move strengthens our long-term growth strategy and enhances our ability to deliver greater value to our communities and shareholders alike.”
Net Interest Income and Net Interest Margin
Net interest income for the quarter ended September 30, 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, higher-yielding securities and used to pay down long-term borrowings. 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 nine months ended September 30, 2025, non-interest income was
Non-Interest Expense
Total non-interest expense was
Net occupancy and furniture and equipment expense increased
For the nine months ended September 30, 2025, non-interest expense was
Income Taxes
Provision for income taxes decreased
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) | 9/30/25 | 6/30/25 | 3/31/25 | 12/31/24 | 9/30/24 | ||||||||||
| Assets | $ | 1,903,244 | $ | 1,884,828 | $ | 1,896,189 | $ | 1,870,894 | $ | 1,841,563 | |||||
| Cash and cash equivalents | 66,331 | 66,471 | 81,557 | 50,713 | 104,232 | ||||||||||
| Investment securities | |||||||||||||||
| Debt securities, AFS | 538,318 | 544,262 | 547,138 | 546,559 | 510,036 | ||||||||||
| Equity securities | — | — | — | — | 2,760 | ||||||||||
| Loans held-for-sale | — | 1,166 | 248 | 664 | 294 | ||||||||||
| Loans receivable | 1,246,529 | 1,218,539 | 1,212,162 | 1,216,048 | 1,171,361 | ||||||||||
| Allowance for credit losses on loans | (9,255 | ) | (9,169 | ) | (9,298 | ) | (8,744 | ) | (8,987 | ) | |||||
| Net loans | 1,237,274 | 1,209,370 | 1,202,864 | 1,207,304 | 1,162,374 | ||||||||||
| Deposits | 1,681,540 | 1,651,667 | 1,664,555 | 1,628,541 | 1,626,284 | ||||||||||
| Demand, non-interest bearing | 189,492 | 201,460 | 203,666 | 183,499 | 190,240 | ||||||||||
| Interest-bearing demand, money market and savings | 1,104,761 | 1,060,688 | 1,083,011 | 1,063,584 | 1,055,409 | ||||||||||
| Time | 387,287 | 389,519 | 377,878 | 381,458 | 380,635 | ||||||||||
| Short-term borrowings | 48,703 | 67,464 | 43,299 | 53,844 | 22,918 | ||||||||||
| Long-term debt | — | — | 30,000 | 30,000 | 30,000 | ||||||||||
| Subordinated debt | 39,218 | 39,168 | 39,118 | 39,068 | 39,030 | ||||||||||
| Shareholders' equity | 121,487 | 113,269 | 108,223 | 103,349 | 105,340 | ||||||||||
| Asset Quality Data (Period End) | |||||||||||||||
| Non-accrual loans | $ | 8,947 | $ | 8,947 | $ | 8,651 | $ | 1,975 | $ | 1,696 | |||||
| Loans past due 90 days or more and still accruing | — | — | — | — | — | ||||||||||
| Non-performing loans | 8,947 | 8,947 | 8,651 | 1,975 | 1,696 | ||||||||||
| Other real estate owned and repossessed assets | — | — | — | — | — | ||||||||||
| Non-performing assets | $ | 8,947 | $ | 8,947 | $ | 8,651 | $ | 1,975 | $ | 1,696 | |||||
| Allowance for credit losses on loans | $ | 9,255 | $ | 9,169 | $ | 9,298 | $ | 8,744 | $ | 8,987 | |||||
| Non-performing loans / Loans excluding held-for-sale | 0.72 | % | 0.73 | % | 0.71 | % | 0.16 | % | 0.14 | % | |||||
| Non-performing assets / Assets | 0.47 | % | 0.47 | % | 0.46 | % | 0.11 | % | 0.09 | % | |||||
| Allowance for credit losses on loans / Loans excluding held-for-sale | 0.74 | % | 0.75 | % | 0.77 | % | 0.72 | % | 0.77 | % | |||||
| QNB Corp. | ||||||||||||||||||||||
| Consolidated Selected Financial Data (unaudited) | ||||||||||||||||||||||
| (Dollars in thousands, except per share data) | Three months ended, | Nine months ended, | ||||||||||||||||||||
| For the period: | 9/30/25 | 6/30/25 | 3/31/25 | 12/31/24 | 9/30/24 | 9/30/25 | 9/30/24 | |||||||||||||||
| Interest income | $ | 23,518 | $ | 23,110 | $ | 22,198 | $ | 22,209 | $ | 21,945 | $ | 68,826 | $ | 61,859 | ||||||||
| Interest expense | 10,520 | 10,458 | 10,661 | 11,234 | 10,818 | 31,639 | 29,972 | |||||||||||||||
| Net interest income | 12,998 | 12,652 | 11,537 | 10,975 | 11,127 | 37,187 | 31,887 | |||||||||||||||
| (Reversal of) provision for credit losses | 93 | (146 | ) | 550 | (255 | ) | 159 | 497 | 187 | |||||||||||||
| Net interest income after provision for credit losses | 12,905 | 12,798 | 10,987 | 11,230 | 10,968 | 36,690 | 31,700 | |||||||||||||||
| Non-interest income: | ||||||||||||||||||||||
| Fees for services to customers | 521 | 485 | 447 | 454 | 469 | 1,453 | 1,316 | |||||||||||||||
| ATM and debit card | 776 | 724 | 656 | 708 | 691 | 2,156 | 2,032 | |||||||||||||||
| Retail brokerage and advisory income | 196 | 140 | 141 | 118 | 139 | 477 | 358 | |||||||||||||||
| Net realized gain (loss) on investment securities | — | — | — | 1,414 | 224 | — | (495 | ) | ||||||||||||||
| Unrealized (loss) gain on equity securities | — | — | — | (1,344 | ) | 143 | — | 1,129 | ||||||||||||||
| Net (loss) gain on sale of loans | 41 | 4 | 18 | (3 | ) | 19 | 63 | 32 | ||||||||||||||
| Other | 313 | 299 | 322 | 298 | 282 | 934 | 896 | |||||||||||||||
| Total non-interest income | 1,847 | 1,652 | 1,584 | 1,645 | 1,967 | 5,083 | 5,268 | |||||||||||||||
| Non-interest expense: | ||||||||||||||||||||||
| Salaries and employee benefits | 5,248 | 5,251 | 5,032 | 5,079 | 4,650 | 15,531 | 14,662 | |||||||||||||||
| Net occupancy and furniture and equipment | 1,688 | 1,681 | 1,736 | 1,653 | 1,531 | 5,105 | 4,527 | |||||||||||||||
| Other | 3,246 | 2,630 | 2,601 | 2,349 | 2,455 | 8,477 | 7,214 | |||||||||||||||
| Total non-interest expense | 10,182 | 9,562 | 9,369 | 9,081 | 8,636 | 29,113 | 26,403 | |||||||||||||||
| Income before income taxes | 4,570 | 4,888 | 3,202 | 3,794 | 4,299 | 12,660 | 10,565 | |||||||||||||||
| Provision for income taxes | 922 | 1,005 | 624 | 743 | 961 | 2,551 | 2,168 | |||||||||||||||
| Net income | $ | 3,648 | $ | 3,883 | $ | 2,578 | $ | 3,051 | $ | 3,338 | $ | 10,109 | $ | 8,397 | ||||||||
| Share and Per Share Data: | ||||||||||||||||||||||
| Net income - basic | $ | 0.98 | $ | 1.05 | $ | 0.70 | $ | 0.83 | $ | 0.91 | $ | 2.72 | $ | 2.29 | ||||||||
| Net income - diluted | $ | 0.98 | $ | 1.04 | $ | 0.69 | $ | 0.83 | $ | 0.91 | $ | 2.72 | $ | 2.29 | ||||||||
| Book value | $ | 32.59 | $ | 30.46 | $ | 29.17 | $ | 27.96 | $ | 28.57 | $ | 32.59 | $ | 28.57 | ||||||||
| Cash dividends | $ | 0.38 | $ | 0.38 | $ | 0.38 | $ | 0.37 | $ | 0.37 | $ | 1.14 | $ | 1.11 | ||||||||
| Average common shares outstanding -basic | 3,721,501 | 3,710,878 | 3,699,854 | 3,688,078 | 3,679,799 | 3,710,824 | 3,666,937 | |||||||||||||||
| Average common shares outstanding -diluted | 3,735,993 | 3,724,808 | 3,713,141 | 3,695,518 | 3,682,773 | 3,723,196 | 3,666,937 | |||||||||||||||
| Selected Ratios: | ||||||||||||||||||||||
| Return on average asset(1) | 0.76 | % | 0.83 | % | 0.56 | % | 0.66 | % | 0.74 | % | 0.72 | % | 0.64 | % | ||||||||
| Return on average shareholders' equity(1) | 12.49 | % | 14.25 | % | 9.73 | % | 11.62 | % | 13.25 | % | 12.18 | % | 11.83 | % | ||||||||
| Net interest margin (tax equivalent) | 2.72 | % | 2.69 | % | 2.51 | % | 2.38 | % | 2.48 | % | 2.64 | % | 2.45 | % | ||||||||
| Efficiency ratio (tax equivalent) | 68.09 | % | 66.39 | % | 70.65 | % | 71.16 | % | 65.27 | % | 68.31 | % | 70.27 | % | ||||||||
| Average shareholders' equity to total average assets | 6.09 | % | 5.79 | % | 5.74 | % | 5.65 | % | 5.59 | % | 5.87 | % | 5.43 | % | ||||||||
| Net loan (recoveries) charge-offs | $ | 12 | $ | (16 | ) | $ | (3 | ) | $ | 1 | $ | 25 | $ | (7 | ) | $ | 58 | |||||
| Net loan (recoveries) charge-offs - annualized / Average loans excluding held-for-sale | 0.00 | % | -0.01 | % | 0.00 | % | 0.00 | % | 0.01 | % | 0.00 | % | 0.01 | % | ||||||||
| Balance Sheet (Average) | ||||||||||||||||||||||
| Assets(1) | $ | 1,904,529 | $ | 1,887,138 | $ | 1,872,950 | $ | 1,848,524 | $ | 1,792,952 | $ | 1,888,321 | $ | 1,744,387 | ||||||||
| Investment securities | 612,204 | 621,128 | 614,329 | 552,323 | 569,135 | 619,910 | 566,638 | |||||||||||||||
| Loans receivable | 1,224,490 | 1,216,011 | 1,193,949 | 1,158,731 | 1,139,874 | 1,216,987 | 1,135,898 | |||||||||||||||
| Deposits | 1,678,118 | 1,647,990 | 1,635,629 | 1,600,925 | 1,542,661 | 1,653,266 | 1,547,290 | |||||||||||||||
| Shareholders' equity(1) | 115,907 | 109,299 | 107,503 | 104,433 | 100,192 | 110,934 | 94,794 | |||||||||||||||
| (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 | |||||||||||||||||||
| September 30, 2025 | September 30, 2024 | ||||||||||||||||||
| Average | Average | Average | Average | ||||||||||||||||
| Balance | Rate | Interest | Balance | Rate | Interest | ||||||||||||||
| Assets | |||||||||||||||||||
| Investment securities: | |||||||||||||||||||
| U.S. Treasury | $ | 20,556 | 4.18 | % | $ | 216 | $ | 12,811 | 4.94 | % | $ | 159 | |||||||
| U.S. Government agencies | 75,965 | 1.18 | 224 | 75,956 | 1.18 | 224 | |||||||||||||
| State and municipal | 104,934 | 2.87 | 754 | 105,674 | 3.74 | 989 | |||||||||||||
| Mortgage-backed and CMOs | 344,214 | 2.50 | 2,152 | 345,119 | 2.84 | 2,453 | |||||||||||||
| Corporate debt securities and mutual funds | 66,535 | 6.11 | 1,017 | 8,804 | 5.97 | 131 | |||||||||||||
| Equities | — | — | — | 3,959 | 4.61 | 46 | |||||||||||||
| Total investment securities | 612,204 | 2.85 | 4,363 | 552,323 | 2.90 | 4,002 | |||||||||||||
| Loans: | |||||||||||||||||||
| Commercial real estate | 885,635 | 5.95 | 13,285 | 819,091 | 5.60 | 11,525 | |||||||||||||
| Residential real estate | 116,550 | 4.52 | 1,316 | 110,760 | 4.21 | 1,165 | |||||||||||||
| Home equity loans | 71,090 | 6.34 | 1,135 | 66,239 | 6.84 | 1,138 | |||||||||||||
| Commercial and industrial | 128,744 | 7.45 | 2,418 | 140,980 | 7.61 | 2,696 | |||||||||||||
| Consumer loans | 3,182 | 8.06 | 64 | 3,613 | 7.75 | 70 | |||||||||||||
| Tax-exempt loans | 19,629 | 4.28 | 211 | 18,305 | 3.88 | 179 | |||||||||||||
| Total loans, net of unearned income* | 1,224,830 | 5.97 | 18,429 | 1,158,988 | 5.76 | 16,773 | |||||||||||||
| Other earning assets | 74,054 | 4.47 | 835 | 95,780 | 5.43 | 1,307 | |||||||||||||
| Total earning assets | 1,911,088 | 4.91 | 23,627 | 1,807,091 | 4.86 | 22,082 | |||||||||||||
| Cash and due from banks | 16,062 | 15,540 | |||||||||||||||||
| Accumulated other comprehensive loss, net of tax | (56,590 | ) | (63,082 | ) | |||||||||||||||
| Allowance for credit losses on loans | (9,185 | ) | (8,860 | ) | |||||||||||||||
| Other assets | 43,154 | 42,263 | |||||||||||||||||
| Total assets | $ | 1,904,529 | $ | 1,792,952 | |||||||||||||||
| Liabilities and Shareholders' Equity | |||||||||||||||||||
| Interest-bearing deposits: | |||||||||||||||||||
| Interest-bearing demand | $ | 377,473 | 0.98 | % | 933 | $ | 356,763 | 1.00 | % | 898 | |||||||||
| Municipals | 179,161 | 3.76 | 1,697 | 154,619 | 4.69 | 1,823 | |||||||||||||
| Money market | 256,289 | 2.87 | 1,852 | 238,494 | 3.56 | 2,132 | |||||||||||||
| Savings | 277,808 | 1.28 | 899 | 278,247 | 1.28 | 896 | |||||||||||||
| Time < | 178,371 | 3.52 | 1,583 | 178,228 | 4.12 | 1,846 | |||||||||||||
| Time | 157,409 | 3.89 | 1,545 | 152,416 | 4.64 | 1,777 | |||||||||||||
| Time > | 56,258 | 3.95 | 560 | 49,506 | 4.61 | 573 | |||||||||||||
| Total interest-bearing deposits | 1,482,769 | 2.43 | 9,069 | 1,408,273 | 2.81 | 9,945 | |||||||||||||
| Short-term borrowings | 57,063 | 3.57 | 514 | 34,078 | 2.18 | 186 | |||||||||||||
| Long-term debt | — | — | — | 30,000 | 4.75 | 364 | |||||||||||||
| Subordinated debt | 39,191 | 9.57 | 937 | 13,716 | 9.42 | 323 | |||||||||||||
| Total borrowings | 96,254 | 5.98 | 1,451 | 77,794 | 4.47 | 873 | |||||||||||||
| Total interest-bearing liabilities | 1,579,023 | 2.64 | 10,520 | 1,486,067 | 2.90 | 10,818 | |||||||||||||
| Non-interest-bearing deposits | 195,349 | 192,652 | |||||||||||||||||
| Other liabilities | 14,250 | 14,041 | |||||||||||||||||
| Shareholders' equity | 115,907 | 100,192 | |||||||||||||||||
| Total liabilities and | |||||||||||||||||||
| shareholders' equity | $ | 1,904,529 | $ | 1,792,952 | |||||||||||||||
| Net interest rate spread | 2.27 | % | 1.96 | % | |||||||||||||||
| Margin/net interest income | 2.72 | % | $ | 13,107 | 2.48 | % | $ | 11,264 | |||||||||||
| 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) | |||||||||||||||||||
| Nine Months Ended | |||||||||||||||||||
| September 30, 2025 | September 30, 2024 | ||||||||||||||||||
| Average | Average | Average | Average | ||||||||||||||||
| Balance | Rate | Interest | Balance | Rate | Interest | ||||||||||||||
| Assets | |||||||||||||||||||
| Investment securities: | |||||||||||||||||||
| U.S. Treasury | $ | 20,582 | 4.26 | % | $ | 656 | $ | 8,820 | 5.10 | % | $ | 337 | |||||||
| U.S. Government agencies | 75,963 | 1.18 | 672 | 81,800 | 1.17 | 718 | |||||||||||||
| State and municipal | 105,092 | 2.87 | 2,264 | 107,237 | 3.56 | 2,860 | |||||||||||||
| Mortgage-backed and CMOs | 353,997 | 2.46 | 6,544 | 355,878 | 2.72 | 7,262 | |||||||||||||
| Corporate debt securities and mutual funds | 64,276 | 6.44 | 3,106 | 7,416 | 5.78 | 321 | |||||||||||||
| Equities | — | — | — | 5,487 | 3.87 | 159 | |||||||||||||
| Total investment securities | 619,910 | 2.85 | 13,242 | 566,638 | 2.74 | 11,657 | |||||||||||||
| Loans: | |||||||||||||||||||
| Commercial real estate | 868,880 | 5.87 | 38,129 | 798,714 | 5.47 | 32,701 | |||||||||||||
| Residential real estate | 115,149 | 4.41 | 3,809 | 109,463 | 4.07 | 3,337 | |||||||||||||
| Home equity loans | 69,921 | 6.39 | 3,339 | 64,700 | 6.83 | 3,307 | |||||||||||||
| Commercial and industrial | 140,822 | 7.42 | 7,817 | 141,148 | 7.57 | 7,997 | |||||||||||||
| Consumer loans | 3,327 | 7.81 | 194 | 3,679 | 7.78 | 214 | |||||||||||||
| Tax-exempt loans | 19,260 | 4.22 | 608 | 18,410 | 3.86 | 532 | |||||||||||||
| Total loans, net of unearned income* | 1,217,359 | 5.92 | 53,896 | 1,136,114 | 5.65 | 48,088 | |||||||||||||
| Other earning assets | 61,114 | 4.46 | 2,037 | 61,999 | 5.45 | 2,530 | |||||||||||||
| Total earning assets | 1,898,383 | 4.87 | 69,175 | 1,764,751 | 4.71 | 62,275 | |||||||||||||
| Cash and due from banks | 14,375 | 13,880 | |||||||||||||||||
| Accumulated other comprehensive loss, net of tax | (58,821 | ) | (66,664 | ) | |||||||||||||||
| Allowance for credit losses on loans | (9,102 | ) | (8,897 | ) | |||||||||||||||
| Other assets | 43,486 | 41,317 | |||||||||||||||||
| Total assets | $ | 1,888,321 | $ | 1,744,387 | |||||||||||||||
| Liabilities and Shareholders' Equity | |||||||||||||||||||
| Interest-bearing deposits: | |||||||||||||||||||
| Interest-bearing demand | $ | 378,157 | 0.98 | % | 2,765 | $ | 337,632 | 0.89 | % | 2,243 | |||||||||
| Municipals | 158,426 | 3.87 | 4,580 | 139,810 | 4.76 | 4,987 | |||||||||||||
| Money market | 257,392 | 2.87 | 5,532 | 232,140 | 3.57 | 6,196 | |||||||||||||
| Savings | 279,507 | 1.29 | 2,693 | 288,885 | 1.28 | 2,769 | |||||||||||||
| Time < | 178,760 | 3.64 | 4,870 | 168,894 | 3.98 | 5,027 | |||||||||||||
| Time | 155,532 | 4.04 | 4,700 | 141,156 | 4.53 | 4,790 | |||||||||||||
| Time > | 52,319 | 4.10 | 1,605 | 50,855 | 4.49 | 1,709 | |||||||||||||
| Total interest-bearing deposits | 1,460,093 | 2.45 | 26,745 | 1,359,372 | 2.72 | 27,721 | |||||||||||||
| Short-term borrowings | 58,546 | 3.79 | 1,659 | 57,880 | 2.33 | 1,010 | |||||||||||||
| Long-term debt | 11,758 | 4.74 | 423 | 26,058 | 4.63 | 918 | |||||||||||||
| Subordinated debt | 39,142 | 9.58 | 2,812 | 4,605 | 9.35 | 323 | |||||||||||||
| Total borrowings | 109,446 | 5.98 | 4,894 | 88,543 | 3.40 | 2,251 | |||||||||||||
| Total interest-bearing liabilities | 1,569,539 | 2.70 | 31,639 | 1,447,915 | 2.77 | 29,972 | |||||||||||||
| Non-interest-bearing deposits | 193,173 | 187,918 | |||||||||||||||||
| Other liabilities | 14,675 | 13,760 | |||||||||||||||||
| Shareholders' equity | 110,934 | 94,794 | |||||||||||||||||
| Total liabilities and | |||||||||||||||||||
| shareholders' equity | $ | 1,888,321 | $ | 1,744,387 | |||||||||||||||
| Net interest rate spread | 2.17 | % | 1.94 | % | |||||||||||||||
| Margin/net interest income | 2.64 | % | $ | 37,536 | 2.45 | % | $ | 32,303 | |||||||||||
| 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 Meaure Reconciliation | |||||||||||||||||||||||
| (Dollars in thousands, except per share data) | |||||||||||||||||||||||
| Three months ended, | Nine months ended, | ||||||||||||||||||||||
| For the period: | 9/30/2025 | 9/30/2024 | Variance | 9/30/2025 | 9/30/2024 | Variance | |||||||||||||||||
| Net income (GAAP) | $ | 3,648 | $ | 3,338 | $ | 310 | $ | 10,109 | $ | 8,397 | $ | 1,712 | |||||||||||
| Merger-related costs | 519 | — | 519 | 519 | — | 519 | |||||||||||||||||
| Income tax benefit | (109 | ) | — | (109 | ) | (109 | ) | — | (109 | ) | |||||||||||||
| Merger-related costs, net of tax | 410 | — | 410 | 410 | — | 410 | |||||||||||||||||
| Net income excluding impact of merger-related costs (Non-GAAP) | $ | 4,058 | $ | 3,338 | $ | 720 | $ | 10,519 | $ | 8,397 | $ | 2,122 | |||||||||||
| Share and Earnings Per Share (EPS) Data: | |||||||||||||||||||||||
| Basic: | |||||||||||||||||||||||
| EPS using Net income (GAAP) | $ | 0.98 | $ | 0.91 | $ | 0.07 | $ | 2.72 | $ | 2.29 | $ | 0.43 | |||||||||||
| EPS using Net income excluding impact of merger-related costs (Non-GAAP) | $ | 1.09 | $ | 0.91 | $ | 0.18 | $ | 2.83 | $ | 2.29 | $ | 0.54 | |||||||||||
| Fully-diluted: | |||||||||||||||||||||||
| EPS using Net income (GAAP) | $ | 0.98 | $ | 0.91 | $ | 0.07 | $ | 2.72 | $ | 2.29 | $ | 0.43 | |||||||||||
| EPS using Net income excluding impact of merger-related costs (Non-GAAP) | $ | 1.09 | $ | 0.91 | $ | 0.18 | $ | 2.83 | $ | 2.29 | $ | 0.54 | |||||||||||
| Average common shares outstanding -basic | 3,721,501 | 3,679,799 | 3,710,824 | 3,666,937 | |||||||||||||||||||
| Average common shares outstanding -diluted | 3,735,993 | 3,682,773 | 3,723,196 | 3,666,937 | |||||||||||||||||||
| Selected Ratios: | |||||||||||||||||||||||
| Return on Average Assets (ROAA): | |||||||||||||||||||||||
| ROAA using Net income (GAAP) | 0.76 | % | 0.74 | % | 2 bp | 0.72 | % | 0.64 | % | 8 bp | |||||||||||||
| ROAA using Net income excluding impact of merger-related costs (Non-GAAP) | 0.85 | % | 0.74 | % | 11 bp | 0.74 | % | 0.64 | % | 10 bp | |||||||||||||
| Return on Average Equity (ROAE): | |||||||||||||||||||||||
| ROAE using Net income (GAAP) | 12.49 | % | 13.25 | % | -76 bp | 12.18 | % | 11.83 | % | 35 bp | |||||||||||||
| ROAE using Net income excluding impact of merger-related costs (Non-GAAP) | 13.89 | % | 13.25 | % | 64 bp | 12.68 | % | 11.83 | % | 85 bp | |||||||||||||
FAQ
What did QNBC report for Q3 2025 net income and EPS?
How did QNB's nine‑month 2025 net income compare to 2024 for QNBC?
What are the details and timing of QNB's announced acquisition of Victory for QNBC?
How did net interest margin change for QNBC in Q3 2025?
What merger‑related costs did QNB record and how did they affect EPS for QNBC?
What change occurred in QNB's asset quality metrics for QNBC at Sept 30, 2025?
