Welcome to our dedicated page for Quaint Oak Bancorp news (Ticker: QNTO), a resource for investors and traders seeking the latest updates and insights on Quaint Oak Bancorp stock.
Quaint Oak Bancorp, Inc. (QNTO) is the holding company for Quaint Oak Bank, a Pennsylvania-chartered stock savings bank, and the parent of the Quaint Oak Family of Companies. News about QNTO often centers on its earnings results, dividend decisions, loan production trends and strategic initiatives across its banking and non-bank subsidiaries.
Regular earnings releases provide detailed commentary on net income or net loss, changes in interest and dividend income, interest expense, non-interest income, non-interest expense and provisions for credit losses. Management discusses factors such as loan balances, yields on loans and interest-earning assets, deposit mix, Federal Home Loan Bank borrowings, and the performance of mortgage banking, SBA lending and commercial real estate lending operations.
Investors following QNTO news will also see dividend announcements, which are often furnished to the SEC on Form 8-K. These releases specify the quarterly cash dividend per share, declaration dates, record dates and payment dates, and sometimes include commentary on how dividend levels relate to capital, liquidity and strategic investment plans.
Company news has highlighted transactions and strategic shifts, such as the sale of a majority interest in Oakmont Capital Holdings, LLC, the discontinuation of Quaint Oak Real Estate, LLC, and a sale-leaseback of an office property that produced a one-time gain. More recently, management has discussed building a new business line in international correspondent banking, explaining its impact on expenses and anticipated role in funding and non-interest income.
By monitoring QNTO news on this page, readers can review historical and recent disclosures on asset quality metrics, capital ratios, loan sale activity, SBA production, mortgage banking volumes and Board decisions on dividends, all drawn from the Company’s press releases and related SEC filings.
Quaint Oak Bancorp, Inc. (OTCQB: QNTO) reported a net income of $2.2 million for Q1 2022, marking a 118.3% increase from $1.0 million in Q1 2021. Earnings per share rose to $1.12 basic and $1.05 diluted. Key contributors to this growth included a $2.1 million increase in net interest income and a $2.5 million rise in gross non-interest income. The net interest margin improved to 4.15% from 2.78%, driven by higher loan volumes and yields. Additionally, stockholders’ equity increased by $3.1 million, or 8.3%.
Quaint Oak Bancorp (OTCQB: QNTO) has declared a quarterly cash dividend of $0.13 per share, up from $0.11, marking an 18.2% increase. This decision was made during the Board of Directors meeting on April 13, 2022, and the dividend is payable on May 9, 2022, to shareholders on record as of April 25, 2022. CEO Robert T. Strong attributes this increase to the Company's strong financial performance in fiscal 2021, underscoring a commitment to long-term profitability and shareholder value.
Quaint Oak Bancorp (OTCQB: QNTO) reported a net income of $2.1 million for Q4 2021, a 93.6% increase from Q4 2020. For the year, net income reached $6.4 million, up 97.3% from 2020. Total assets grew by 14.5% to $554.1 million, driven by a $103.6 million loan production increase. The company also reduced deposit costs to 0.86%.
However, non-interest expenses rose by 76.5% compared to the previous year. Additionally, the provision for loan losses increased by 350.7%, reflecting impact from the COVID-19 pandemic.
Quaint Oak Bancorp, Inc. (OTCQB: QNTO) announced a quarterly cash dividend of $0.11 per share, set to be paid on February 7, 2022, for shareholders recorded by January 24, 2022. This decision was taken during the Board of Directors meeting on January 12, 2022. Quaint Oak Bancorp is the parent company of Quaint Oak Bank, which operates multiple subsidiaries in the Delaware Valley, Lehigh Valley, and Philadelphia markets.
Quaint Oak Bank, a subsidiary of Quaint Oak Bancorp (OTCQB: QNTO), has been recognized as one of the ‘Fastest Growing Companies’ in the Lehigh Valley for the sixth consecutive year. The Mortgage Company ranked tenth among thirty qualifying companies, reflecting significant growth in 2020 despite pandemic challenges. Furthermore, Quaint Oak Mortgage launched 'QO Direct,' an innovative remote application program enabling nationwide service with a comprehensive e-Close solution for various closing types.
Quaint Oak Bank, a subsidiary of Quaint Oak Bancorp (OTCQB: QNTO), has announced an expansion of its real estate operations with the opening of two new offices in Pennsylvania: Chalfont and Doylestown. This expansion extends its market reach into the Delaware Valley, complementing its existing presence in the Lehigh Valley. The initiative is bolstered by the hiring of experienced management, including Lynn Sharer as Manager and Broker of Record, and Janice Robinson to lead the Doylestown office. Quaint Oak Real Estate aims to double its sales agent count from approximately 36.
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Quaint Oak Bancorp, Inc. (OTCQB: QNTO) reported a net income of $1.8 million for Q3 2021, up 76.8% from $1.0 million in Q3 2020. For the first nine months, net income rose 99.0% to $4.3 million. Key growth metrics include a 10.7% increase in total assets to $535.9 million, with loans held for sale doubling to $106.8 million. Deposits surged by 22.7% to $435.5 million, driven by significant growth in money market accounts. The company also launched Oakmont Commercial, LLC, expanding its real estate finance capabilities.
Quaint Oak Bancorp, Inc. (OTCQB: QNTO) has launched a new subsidiary, Oakmont Commercial, LLC, focused on specialty commercial real estate finance, based in Southampton, PA. Led by Ken Markizon, who has extensive banking experience, the new entity aims to expand the bank's footprint in commercial real estate lending nationally. Robert T. Strong, CEO of Quaint Oak Bank, emphasized the initiative's synergy with existing operations and its significance for growth. Quaint Oak Bank operates through regional offices in key Pennsylvania markets and manages several other subsidiaries.
Quaint Oak Bancorp, Inc. (OTCQB: QNTO) announced a quarterly cash dividend of $0.11 per share on its common stock, set for payment on November 8, 2021. Shareholders of record as of October 25, 2021 will receive the dividend. Quaint Oak Bancorp is the parent company of Quaint Oak Bank, which provides banking services across three regional offices in Pennsylvania. The company also includes various subsidiaries, including those in real estate and insurance.
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