Quaint Oak Bancorp (OTCQB: QNTO) reported net income of $174,000 for Q4 2025 ($0.07 per share) and $322,000 for full-year 2025 ($0.12 per share), versus $1.6 million and $2.8 million respectively in 2024. The company cited higher non-interest expense from technology and personnel investments, lower non-interest income, and shifts in deposit balances and loan volumes.
Key operational notes include $36.2 million of SBA loan originations in 2025 (vs $18.5M in 2024), a move to an originate-and-sell model at Oakmont Commercial, and activation of international correspondent banking in 2026.
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Positive
SBA originations increased to $36.2M in 2025
Net interest margin rose to 3.04% in Q4 2025
Average loan yield increased to 6.55% in Q4 2025
Oakmont Commercial shifted to originate-and-sell model
Negative
Net income fell 88.5% year-over-year to $322K in 2025
Non-interest expense increased by $2.2M for 2025
Non-interest income decreased $997K for 2025
Average money market balances decreased by $82.0M for 2025
Southampton, PA, Feb. 02, 2026 (GLOBE NEWSWIRE) -- Quaint Oak Bancorp, Inc. (the “Company”) (OTCQB: QNTO), the holding company for Quaint Oak Bank (the “Bank”), announced today net income for the quarter ended December 31, 2025 of $174,000, or $0.07 per basic and diluted share, compared to net income of $1.6 million, or $0.60 per basic and diluted share, for the same period in 2024. Net income for the year ended December 31, 2025 was $322,000, or $0.12 per basic and diluted share, compared to net income of $2.8 million, or $1.08 per basic and diluted share, for the same period in 2024.
Robert T. Strong, Chief Executive Officer stated, “Starting our Centennial Year is a proud moment for our entire organization as it reflects a long-standing culture of resilience and disciplined leadership. Our ability to navigate changing environments while investing in the future has earned the continued trust of shareholders and customers. Reaching 100 years is not about survival but sustained progress, driven by adapting to industry direction and the evolving needs of our customers.”
“2025 continued as a year of building out both technology platforms and personnel which largely accounted for the $2.2 million increase in non-interest expense for the year ended December 31, 2025, over calendar year 2024. During 2025, the Bank invested significant resources and capital to lay the proper foundation on which we expect to grow net income and optimize the balance sheet.”
“As we enter 2026, we have now moved from investment to activation in our international correspondent banking business line, from which we expect to see results in 2026. We anticipate that the long-term investments we have made have positioned us for growth in this sector and will provide promising results.”
“Additionally, our SBA initiative showed considerable progress in 2025. Our status as an SBA Preferred Lender has empowered the Commercial Lending team to operate with greater efficiency, resulting in a substantial increase in production volume as we originated $36.2 million of SBA loans in 2025 compared to $18.5 million of originations in 2024. While the recent government shutdown temporarily affected our fourth-quarter performance in this business segment, we are pleased to report that operations have normalized and momentum is strong moving forward.”
“One more observation in our resilience pattern: Oakmont Commercial, the Bank’s specialty real estate lending subsidiary, has successfully pivoted to a new model of originate-and-sell. This approach is expected to control our growth and anticipated to produce an increase in fee income. It also provides the ability to scale volume moving forward, building capital rather than reducing capital ratios with asset growth.”
Mr. Strong concluded, “We believe we leave 2025 in a much better position as we enter our Centennial Year, having focused on progress in key sectors of our business lines. As always, our current and continued business strategy focuses on long-term profitability and maintaining healthy capital ratios, both of which reflect our strong commitment to shareholder value.”
Comparison of Quarter-Over-Quarter Operating Results
Net income amounted to $174,000 for the three months ended December 31, 2025, a decrease of $1.4 million, or 89.0%, compared to net income of $1.6 million for the three months ended December 31, 2024. The decrease in net income on a comparative quarterly basis was primarily the result of an increase in non-interest expense of $662,000, and a decrease in non-interest income of $2.4 million, partially offset by a decrease in the net provision for income taxes of $436,000, a net decrease in the (recovery of) provision for credit losses of $402,000, an increase in interest and dividend income of $393,000, and a decrease in interest expense of $382,000.
The $393,000, or 4.0%, increase in interest and dividend income for the quarter was primarily due to a 23 basis point increase in the average yield on loans receivable, net from 6.32% for the three months ended December 31, 2024 to 6.55% for the three months ended December 31, 2025, and had the effect of increasing interest income $357,000, and an increase in the average balance of loans receivable, net, including loans held for sale, which increased $2.7 million from $608.4 million for the three months ended December 31, 2024 to $611.0 million for the three months ended December 31, 2025 and had the effect of increasing interest income $43,000. Also contributing to the increase in interest and dividend income was a 25 basis point increase in the average yield on due from banks – interest earning, which increased from 3.47% for the three months ended December 31, 2024 to 3.72% for the three months ended December 31, 2025 and had the effect of increasing interest income $16,000. Partially offsetting the increase in interest and dividend income was a $5.3 million decrease in the average balance of due from banks – interest earning, which decreased from $31.5 million for the three months ended December 31, 2024 to $26.2 million for the three months ended December 31, 2025, and had the effect of decreasing interest income $46,000. The $5.3 million decrease in the average balance of due from banks – interest earning was due to a higher level of balances during 2024 due to proceeds from the sale of the Bank’s 51% ownership of Oakmont Capital Holdings, LLC on March 29, 2024.
The $382,000, or 6.5%, decrease in interest expense for the three months ended December 31, 2025 over the comparable period in 2024 was driven by a $496,000, or 9.3%, decrease in interest expense on deposits, which was primarily attributable to a $103.3 million decrease in the average balance of money market deposits which decreased from $198.8 million for the three months ended December 31, 2024 to $95.5 million for the three months ended December 31, 2025 and had the effect of decreasing interest expense $1.1 million, and a 126 basis point decrease in the average rate of money market accounts from 4.08% for the three months ended December 31, 2024 to 2.82% for the three months ended December 31, 2025 and had the effect of decreasing interest expense $300,000. The decrease in average balances of interest-bearing deposits was a result of a strategic exit of a correspondent banking relationship for business checking deposits, and reduction in money market deposits through a deposit placement agreement. These decreases in interest expense were partially offset by a $1.0 million increase in the interest expense for certificates of deposit due to a $92.8 million increase in the average balance of certificates of deposit which increased from $252.3 million for the three months ended December 31, 2024 to $345.1 million for the three months ended December 31, 2025. The $92.8 million increase in the average balance of certificates of deposits was primarily due to the Bank’s competitive rate offerings in our market area. The average interest rate spread increased from 1.88% for the three months ended December 31, 2024 to 2.40% for the three months ended December 31, 2025 and the net interest margin increased from 2.54% for the three months ended December 31, 2024 to 3.04% for the three months ended December 31, 2025.
The $402,000, or 127.2%, net decrease in the (recovery of) provision for credit losses for the three months ended December 31, 2025 over the three months ended December 31, 2024 was primarily due to a decrease in charge-offs and a decrease in the commercial and industrial loan balances, during the three months ended December 31, 2025.
The $2.4 million, or 58.0%, decrease in non-interest income for the three months ended December 31, 2025 over the comparable period in 2024 was primarily attributable to the $1.5 million gain on the sale and leaseback of the Company’s office building at 1710 Union Boulevard in Allentown, Pennsylvania in October, 2024, a $1.0 million, or 59.3%, decrease in net gain on sale of mortgage and Oakmont Commercial loans, a $50,000, or 17.7%, decrease in mortgage banking, equipment lending and title abstract fees, and a $4,000 decrease in net loan servicing income. These decreases were partially offset by a $145,000, or 71.8%, increase in gain on sale of SBA loans, a $25,000, or 11.5%, increase in insurance commissions, a $19,000, or 63.3%, increase in other fees and service charges, and a $2,000, or 6.5%, increase in income from bank-owned life insurance. The decrease in net gain on sale of loans was primarily attributable to mortgage loans.
The $662,000, or 11.6%, increase in non-interest expense for the three months ended December 31, 2025 over the comparable period in 2024 was primarily due to a $482,000, or 108.7%, increase in professional fees, a $79,000, or 19.6%, increase in data processing expense, a $55,000, or 1.4%, increase in salaries and employee benefits expense, a $25,000, or 5.9%, increase in occupancy and equipment expense, a $23,000, or 19.2%, increase in FDIC deposit insurance assessment, and a $19,000, or 39.6%, increase in directors’ fees and expenses. These increases were partially offset by a $33,000, or 33.0%, decrease in advertising expense. The increase in professional fees during the fourth quarter was primarily due to international correspondent banking software and compliance related activities and expense.
The provision for income tax from continuing operations decreased $436,000, or 84.5%, from $516,000 for the three months ended December 31, 2024 to $80,000 for the three months ended December 31, 2025 due primarily to a decrease in pre-tax income.
Comparison of Year-Over-Year Operating Results
Net income amounted to $322,000 for the year ended December 31, 2025, a decrease of $2.5 million, or 88.5%, compared to net income of $2.8 million for the year ended December 31, 2024. The decrease in net income on a comparative year basis was primarily the result of a decrease in interest and dividend income of $2.8 million, an increase in non-interest expense of $2.2 million, a decrease in non-interest income of $997,000, and a decrease in net income from discontinued operations of $406,000, partially offset by a decrease in interest expense of $2.9 million, a decrease in the net provision for income taxes from continuing operations of $710,000, and a decrease in the provision for credit losses of $317,000.
The $2.8 million, or 6.5%, decrease in interest and dividend income for the year ended December 31, 2025 over the year ended December 31, 2024 was primarily driven by a decrease in the average balance of loans receivable, net, including loans held for sale, which decreased $23.8 million from $621.0 million for the year ended December 31, 2024 to $597.2 million for the year ended December 31, 2025 and had the effect of decreasing interest income $1.5 million. Also contributing to the decrease in interest and dividend income was a $29.6 million decrease in the average balance of due from banks – interest earning, which decreased from $61.9 million for the year ended December 31, 2024 to $32.3 million for the year ended December 31, 2025, and had the effect of decreasing interest income $1.5 million, and a 108 basis point decrease in the average yield on due from banks - interest earning from 4.96% for the year ended December 31, 2024 to 3.88% for the year ended December 31, 2025, and had the effect of decreasing interest income $348,000. Partially offsetting this decrease in interest and dividend income was a nine basis point increase in the average yield on loans receivable, net from 6.45% for the year ended December 31, 2024 to 6.54% for the year ended December 31, 2025, and had the effect of increasing interest income $518,000. Similar to the quarter, the $29.6 million decrease in the average balance of due from banks – interest earning was due to a higher level of balances during 2024 due to proceeds from the sale of the Bank’s 51% ownership of Oakmont Capital Holdings, LLC on March 29, 2024.
The $2.9 million, or 11.3%, decrease in interest expense for the year ended December 31, 2025 over the year ended December 31, 2024 was driven by a $4.2 million, or 18.0%, decrease in interest expense on deposits, which was primarily attributable to an $82.0 million decrease in the average balances of money market deposits which decreased from $211.0 million for the year ended December 31, 2024 to $129.0 million for the year ended December 31, 2025 and had the effect of decreasing interest expense by $3.6 million, and a 108 basis point decrease in average rate of money markets which decreased from 4.44% for the year ended December 31, 2024, to 3.36% for the year ended December 31, 2025. Also contributing to the decrease was a $49.7 million decrease in the average balances of business checking accounts which decreased from $93.3 million for the year ended December 31, 2024 to $43.6 million for the year ended December 31, 2025 and had the effect of decreasing interest expense by $2.2 million, and a 159 basis point decrease in the average yield on business checking accounts which decreased from 4.50% for the year ended December 31, 2024 to 2.91% for the year ended December 31, 2025 and had the effect of decreasing interest expense by $691,000. The decrease in average balances of interest-bearing deposits was a result of a strategic exit of a correspondent banking relationship for business checking deposits and reduction in a money market deposits through a deposit placement agreement. These decreases in interest expense were partially offset by $3.5 million increase in the interest expense on certificates of deposit due to an $85.5 million increase in the average balance of certificates of deposit which increased from $230.5 million for the year ended December 31, 2024 to $316.0 million for the year ended December 31, 2025 and had the effect of increasing interest expense by $3.5 million. These decreases in interest expense were also partially offset by a $1.3 million, or 240.9% increase in the interest expense on Federal Home Loan Bank borrowings due to a $25.1 million, or 171.0%, increase in the average balance of Federal Home Loan Bank borrowings which increased from $14.6 million for the year ended December 31, 2024 to $39.7 million for the year ended December 31, 2025, and had the effect of increasing interest expense $941,000, and a 94 basis point increase on the rate on Federal Home Loan borrowings which increased from 3.74% for the year ended December 31, 2024, to 4.68% for the year ended December 31, 2025, and had the effect of increasing interest expense by $373,000. Similar to the quarter, the $85.5 million increase in the average balance of certificates of deposits was primarily due to the Bank’s competitive rate offerings in our market area. The average interest rate spread increased from 1.84% for the year ended December 31, 2024 to 2.27% for the year ended December 31, 2025 while the net interest margin increased from 2.59% for the year ended December 31, 2024 to 2.83% for the year ended December 31, 2025.
The $317,000, or 20.7%, decrease in the provision for credit losses for the year ended December 31, 2025 over the year ended December 31, 2024 was primarily due to a decrease in the commercial and industrial loan category, and a decrease in charge-offs during the year ended December 31, 2025.
The $997,000, or 12.2%, decrease in non-interest income for the year ended December 31, 2025 over the year ended December 31, 2024 was primarily attributable to the $1.5 million gain on the sale and leaseback of the Company’s office building at 1710 Union Boulevard in Allentown, Pennsylvania in October, 2024, a $636,000, or 103.9%, decrease in other fees and service charges, a $20,000, or 100.0%, decrease in real estate sales commissions, net, and a $4,000, or 3.4%, decrease in loan servicing fee income. These decreases were partially offset by a $978,000, or 215.9%, increase in gain on sale of SBA loans, a $76,000, or 10.2%, increase in insurance commissions, a $38,000, or 4.2%, increase in mortgage banking, equipment lending and title abstract fees, and a $10,000, or 8.5%, increase in income from bank-owned life insurance.
The $2.2 million, or 10.4%, increase in non-interest expense for the year ended December 31, 2025 over the comparable period in 2024 was primarily due to a $720,000, or 93.6%, increase in professional fees, a $522,000, or 3.6%, increase in salaries and employee benefits expense, a $462,000, or 35.6%, increase in data processing expense, a $381,000, or 26.9%, increase in occupancy and equipment expense, a $128,000, or 7.4%, increase in other expense, and a $62,000, or 30.8%, increase in directors’ fees and expenses. These increases were partially offset by an $84,000, or 13.7%, decrease in FDIC deposit insurance assessment, and an $8,000, or 2.6%, decrease in advertising expense. The increase in salaries and employee benefits expense, professional fees, occupancy and equipment expense, data processing expense, and other expense was primarily due to international correspondent banking software and compliance related activities and expense.
The provision for income tax from continuing operations decreased $710,000, or 68.8%, from $1.0 million for the year ended December 31, 2024 to $322,000 for the year ended December 31, 2025 due primarily to a decrease in pre-tax income.
Comparison of Financial Condition
The Company’s total assets at December 31, 2025 were $675.9 million, a decrease of $9.3 million, or 1.4%, from $685.2 million at December 31, 2024. This decrease in total assets was primarily due to a $9.4 million, or 15.0%, decrease in cash and cash equivalents, a $3.3 million, or 5.2%, decrease in loans held for sale, a $1.9 million, or 86.9%, decrease in investment in Federal Home Loan Bank stock, at cost, and a $784,000, or 47.1%, decrease in investment securities available for sale. Partially offsetting the decrease in total assets was a $6.0 million, or 1.1%, increase in loans receivable, net of allowance for credit losses. The largest increases within the loan portfolio occurred in one-to-four family owner occupied loans which increased $15.7 million, or 60.6%, commercial real estate loans, which increased $12.1 million, or 4.1%, and construction loans which increased $5.1 million, or 28.1%. Partially offsetting these increases were commercial business loans which decreased $18.6 million, or 16.2%, one-to-four family non-owner occupied loans which decreased $4.7 million, or 14.0%, multi-family residential loans which decreased $4.6 million, or 10.2%, and home equity loans which decreased $365,000, or 6.4%. Cash and cash equivalents decreased as excess liquidity was used to fund the repayment of FHLB borrowings.
Loans held for sale decreased $3.3 million, or 5.2%, from $64.3 million at December 31, 2024 to $61.0 million at December 31, 2025 as the Bank’s commercial real estate subsidiary, Oakmont Commercial, LLC, originated $52.0 million of commercial real estate loans during the year ended December 31, 2025 and sold $49.5 million of loans in the secondary market during this same period. The Bank’s mortgage banking subsidiary, Quaint Oak Mortgage, LLC, originated $112.3 million of one-to-four family residential loans during the year ended December 31, 2025 and sold $113.9 million of loans in the secondary market. Additionally, the Bank originated $14.7 million of SBA loans for sale and sold $18.9 million of SBA loans in the secondary market in the same period.
Total deposits increased $44.0 million, or 8.0%, to $597.3 million at December 31, 2025 from $553.3 million at December 31, 2024. This increase in deposits was primarily attributable to an increase of $71.8 million, or 25.4%, in certificates of deposit, an increase of $40.9 million, or 68.4%, in non-interest bearing checking accounts, an increase of $22.9 million, or 47.9%, in interest bearing checking accounts, and a $207,000, or 42.1%, increase in savings accounts. These increases in deposits were partially offset by a decrease of $91.8 million, or 56.6%, in money market accounts due to the strategic exit of a deposit placement agreement.
Total Federal Home Loan Bank (FHLB) borrowings decreased $47.9 million, or 100.0%, to none at December 31, 2025 from $47.9 million at December 31, 2024 as the Bank paid down the $47.9 million of borrowings.
Senior debt, net of unamortized debt issuance costs, increased $9.6 million from none at December 31, 2024 as the Company entered into a Senior Unsecured Note Purchase Agreement with certain institutional accredited investors pursuant to which the Company issued an aggregate of $9.75 million in aggregate principal amount of Fixed Rate Unsecured Senior Notes due March 1, 2028 (the “Senior Debt Notes”) in a private placement. The Company issued to an accredited individual investor an additional $250,000 in principal amount of the Senior Debt Notes as of March 4, 2025 for a total of $10.0 million in aggregate principal amount. The Senior Debt Notes bear interest at a fixed annual rate of 11.00%, payable semi-annually in arrears on March 1 and September 1 of each year, beginning September 1, 2025. The maturity date of the Senior Debt Notes is March 1, 2028.
Subordinated debt, net of unamortized debt issuance costs, decreased $14.0 million, or 63.6%, to $8.0 million at December 31, 2025 from $22.0 million at December 31, 2024 as the Company used the net proceeds from the sale of the Senior Debt Notes to repay a portion of the outstanding $14.0 million aggregate principal amount of its 8.5% Fixed Rate Subordinated Notes upon their maturity on March 15, 2025. The remaining $8.0 million of subordinated debt matures on December 31, 2028.
Total stockholders’ equity from continuing operations decreased $288,000, or 0.6%, to $52.3 million at December 31, 2025 from $52.6 million at December 31, 2024. Contributing to the decrease were dividends paid of $894,000, and purchase of treasury stock of $44,000. The decrease in stockholders’ equity was partially offset by net income for the year ended December 31, 2025 of $322,000, amortization of stock awards and options under our stock compensation plans of $251,000, the reissuance of treasury stock under the Bank’s 401(k) Plan of $74,000, and other comprehensive income, net of $3,000.
Non-performing loans at December 31, 2025 totaled $7.3 million, or 1.36%, of total loans receivable, net of allowance for credit losses, consisting of $5.8 million of loans on non-accrual status and $1.5 million of accruing loans 90-days or more delinquent. Non-accrual loans consist of two one-to-four family residential owner occupied loans, 14 commercial real estate loans, and 15 commercial business loans. Included in the 15 commercial business loans is one pool of equipment loans. Accruing loans 90-days or more past due include one one-to-four family residential owner occupied loan, one one-to-four family residential non-owner occupied loan, one commercial real estate loan, and one commercial business loan, all of which are still accruing. All non-performing loans are either well-collateralized or adequately reserved for. During the year ended December 31, 2025, one commercial real estate loan, and 11 commercial business loans totaling $1.6 million that were previously on non-accrual were charged-off through the allowance for credit losses. Non-performing loans at December 31, 2024 totaled $6.3 million, or 1.18%, of total loans receivable, net of allowance for credit losses, consisting of $5.6 million of loans on non-accrual status and $725,000 of accruing loans 90-days or more delinquent. Non-accrual loans consist of one one-to-four family residential owner occupied loan, four commercial real estate loans, and ten commercial business loans. Included in the ten commercial business loans is one pool of equipment loans. Loans 90-days or more past due include one one-to-four family residential owner occupied loan, two commercial real estate loans, and four commercial business loans, all of which are still accruing. All non-performing loans are either well-collateralized or adequately reserved for. During the year ended December 31, 2024, 19 commercial business loans totaling $1.6 million, and one construction loan of $187,000, that were previously on non-accrual were charged-off through the allowance for credit losses.
Other real estate owned (OREO) amounted to $360,000 at December 31, 2025 consisting of one property that was collateral for a non-performing commercial loan. Non-performing assets, consisting of non-performing loans and OREO, amounted to $7.6 million, or 1.14% of total assets at December 31, 2025. At December 31, 2024, there was no OREO.
Quaint Oak Bancorp, Inc., a Financial Services Company, is the parent company for the Quaint Oak Family of Companies. Quaint Oak Bank, a Pennsylvania-chartered stock savings bank and wholly-owned subsidiary of the Company, is headquartered in Southampton, Pennsylvania and conducts business through three regional offices located in the Delaware Valley, Lehigh Valley and Philadelphia markets. Quaint Oak Bank’s subsidiary companies include Quaint Oak Abstract, LLC, Quaint Oak Insurance Agency, LLC, Quaint Oak Mortgage, LLC, and Oakmont Commercial, LLC, a specialty commercial real estate financing company. All companies are multi-state operations.
Statements contained in this news release which are not historical facts may be forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from those currently anticipated due to a number of factors. Factors which could result in material variations include, but are not limited to, changes in interest rates which could affect net interest margins and net interest income, competitive factors which could affect net interest income and noninterest income, changes in demand for loans, deposits and other financial services in the Company's market area; changes in asset quality, general economic conditions as well as other factors discussed in documents filed by the Company with the Securities and Exchange Commission from time to time. The Company undertakes no obligation to update these forward-looking statements to reflect events or circumstances that occur after the date on which such statements were made.
In addition to factors previously disclosed in the reports filed by the Company with the Securities and Exchange Commission and those identified elsewhere in this press release, the following factors, among others, could cause actual results to differ materially from forward-looking statements or historical performance: the strength of the United States economy in general and the strength of the local economies in which the Company conducts its operations; general economic conditions; legislative and regulatory changes; monetary and fiscal policies of the federal government; changes in tax policies, rates and regulations of federal, state and local tax authorities including the effects of the Tax Reform Act; changes in interest rates, deposit flows, the cost of funds, demand for loan products and the demand for financial services, competition, changes in the quality or composition of the Company’s loan, investment and mortgage-backed securities portfolios; geographic concentration of the Company’s business; fluctuations in real estate values; the adequacy of loan loss reserves; the risk that goodwill and intangibles recorded in the Company’s financial statements will become impaired; changes in accounting principles, policies or guidelines and other economic, competitive, governmental and technological factors affecting the Company’s operations, markets, products, services and fees.
QUAINT OAK BANCORP, INC.
Consolidated Balance Sheets
(In Thousands)
At December 31,
At December 31,
2025
2024
(Unaudited)
(Unaudited)
Assets
Due from banks, non-interest-earning
$
1,978
$
345
Due from banks, interest-earning
51,569
62,644
Cash and cash equivalents
53,547
62,989
Investment in interest-earning time deposits
912
912
Investment securities available for sale at fair value
882
1,666
Loans held for sale
60,956
64,281
Loans receivable, net of allowance for credit losses (2025: $6,166; 2024: $6,476)
540,698
534,693
Accrued interest receivable
3,789
3,961
Investment in Federal Home Loan Bank stock, at cost
291
2,214
Bank-owned life insurance
4,575
4,447
Premises and equipment, net
1,540
1,626
Goodwill
515
515
Other intangible, net of accumulated amortization
28
77
Other real estate owned, net
360
-
Prepaid expenses and other assets
7,760
7,787
Total Assets
$
675,853
$
685,168
Liabilities and Stockholders’ Equity
Liabilities
Deposits
Non-interest bearing
$
100,697
$
59,783
Interest-bearing
496,581
493,469
Total deposits
597,278
553,252
Federal Home Loan Bank borrowings
-
47,855
Senior debt, net of unamortized costs
9,619
-
Subordinated debt
8,000
22,000
Accrued interest payable
1,086
937
Advances from borrowers for taxes and insurance
2,643
3,122
Accrued expenses and other liabilities
4,898
5,385
Total Liabilities
623,524
632,551
Total Stockholders’ Equity
52,329
52,617
Total Liabilities and Stockholders’ Equity
$
675,853
$
685,168
QUAINT OAK BANCORP, INC. Consolidated Statements of Income (In Thousands, except share data)
For the Three Months Ended
For the Year Ended
December 31,
December 31,
2025
2024
2025
2024
(Unaudited)
(Unaudited)
Interest and Dividend Income
Interest on loans, including fees
$
10,013
$
9,613
$
39,039
$
40,058
Interest and dividends on time deposits, investment securities, interest-bearing deposits with others, and Federal Home Loan Bank stock
326
333
1,590
3,379
Total Interest and Dividend Income
10,339
9,946
40,629
43,437
Interest Expense
Interest on deposits
4,850
5,346
18,966
23,141
Interest on FHLB borrowings
190
42
1,858
545
Interest on FRB borrowings
-
-
1
-
Interest on senior debt
275
-
947
-
Interest on subordinated debt
164
473
954
1,934
Total Interest Expense
5,479
5,861
22,726
25,620
Net Interest Income
4,860
4,085
17,903
17,817
(Recovery of) Provision for Credit Losses – Loans
(27
)
279
1,197
1,506
(Recovery of) Provision for Credit Losses – Unfunded Commitments
(59
)
37
20
28
Total (Recovery of) Provision for Credit Losses
(86
)
316
1,217
1,534
Net Interest Income after (Recovery of) Provision for Credit Losses
4,946
3,769
16,686
16,283
Non-Interest Income
Mortgage banking, equipment lending and title abstract fees
232
282
947
909
Real estate sales commissions, net
-
-
-
20
Insurance commissions
243
218
820
744
Other fees and services charges
49
30
(24
)
612
Net loan servicing income
107
111
112
116
Income from bank-owned life insurance
33
31
128
118
Net gain on sale of loans
693
1,701
3,745
3,699
Gain on sale of SBA loans
347
202
1,431
453
Gain on sale-leaseback transaction
-
1,485
-
1,485
Total Non-Interest Income
1,704
4,060
7,159
8,156
Non-Interest Expense
Salaries and employee benefits
3,873
3,818
15,158
14,636
Directors' fees and expenses
67
48
263
201
Occupancy and equipment
447
422
1,799
1,418
Data processing
483
404
1,760
1,298
Professional fees
928
446
1,489
769
FDIC deposit insurance assessment
143
120
530
614
Advertising
67
100
294
302
Amortization of other intangible
12
12
48
48
Other
376
364
1,860
1,732
Total Non-Interest Expense
6,396
5,734
23,201
21,018
Income from Continuing Operations Before Income Taxes
254
2,095
644
3,421
Income Taxes
80
516
322
1,032
Net Income from Continuing Operations
174
1,579
322
2,389
Income from Discontinued Operations
-
-
-
564
Income Taxes
-
-
-
158
Net Income from Discontinued Operations
-
-
-
406
Net Income
$
174
$
1,579
$
322
$
2,795
Three Months Ended December 31,
Year Ended December 31,
2025
2024
2025
2024
Per Common Share Data:
(Unaudited)
(Unaudited)
Earnings per share from continuing operations – basic
$
0.07
$
0.60
$
0.12
$
0.92
Earnings per share from discontinued operations – basic
$
-
$
-
$
-
$
0.16
Earnings per share, net – basic
$
0.07
$
0.60
$
0.12
$
1.08
Average shares outstanding – basic
2,636,914
2,631,851
2,632,661
2,578,804
Earnings per share from continuing operations – diluted
$
0.07
$
0.60
$
0.12
$
0.92
Earnings per share from discontinued operations – diluted
$
-
$
-
$
-
$
0.16
Earnings per share, net – diluted
$
0.07
$
0.60
$
0.12
$
1.08
Average shares outstanding - diluted
2,636,914
2,631,851
2,632,661
2,578,804
Book value per share, end of period
$
19.84
$
20.03
$
19.84
$
20.03
Shares outstanding, end of period
2,637,978
2,626,535
2,637,978
2,626,535
Three Months Ended December 31,
Year Ended December 31,
2025
2024
2025
2024
Selected Operating Ratios:
(Unaudited)
(Unaudited)
Average yield on interest-earning assets
6.46
%
6.19
%
6.41
%
6.32
%
Average rate on interest-bearing liabilities
4.05
%
4.30
%
4.14
%
4.48
%
Average interest rate spread
2.40
%
1.88
%
2.27
%
1.84
%
Net interest margin
3.04
%
2.54
%
2.83
%
2.59
%
Average interest-earning assets to average interest-bearing liabilities
118.43
%
118.00
%
115.40
%
120.08
%
Efficiency ratio
97.45
%
70.40
%
92.58
%
80.93
%
Asset Quality Ratios (1):
Non-performing loans as a percent of total loans receivable, net
1.36
%
1.18
%
1.36
%
1.18
%
Non-performing assets as a percent of total assets
1.09
%
0.92
%
1.09
%
0.92
%
Allowance for credit losses as a percent of non-performing loans
84.01
%
102.45
%
84.01
%
102.45
%
Allowance for credit losses as a percent of total loans receivable, net
1.13
%
1.20
%
1.13
%
1.20
%
Texas Ratio (2)
11.45
%
8.77
%
11.45
%
8.77
%
(1) Asset quality ratios are end of period ratios. (2) Total non-performing assets divided by tangible common equity plus the allowance for credit losses.
Quaint Oak Bancorp, Inc.
Robert T. Strong, Chief Executive Officer
(215) 364-4059
FAQ
What were Quaint Oak Bancorp (QNTO) net income results for Q4 2025?
QNTO reported $174,000 net income for Q4 2025, or $0.07 per share. According to the company, higher non-interest expense and lower non-interest income were the primary drivers of the quarterly decline versus Q4 2024.
How did Quaint Oak Bancorp (QNTO) perform for full-year 2025 compared to 2024?
For full-year 2025, QNTO reported $322,000 net income, or $0.12 per share, down from $2.8 million in 2024. According to the company, investments in technology/personnel and lower interest and non-interest income reduced annual profit.
What drove the increase in non-interest expense for Quaint Oak Bancorp in 2025?
Non-interest expense rose by about $2.2 million in 2025 largely due to technology, personnel, and professional fees. According to the company, international correspondent banking software and compliance work materially increased professional fees.
How significant were SBA loan originations for Quaint Oak Bancorp (QNTO) in 2025?
QNTO originated $36.2 million of SBA loans in 2025, nearly double 2024 originations. According to the company, SBA Preferred Lender status improved production efficiency and materially increased SBA volume.
What changed in Quaint Oak Bancorp’s deposit mix and how did it affect interest expense?
Money market and business checking balances fell substantially, reducing interest expense by several million. According to the company, strategic exit of a correspondent relationship and deposit placement changes drove the deposit mix shift and lower deposit costs.
What are Quaint Oak Bancorp’s 2026 operational priorities as stated by management?
Management plans to activate its international correspondent banking line and leverage prior investments to drive growth in 2026. According to the company, they moved from investment to activation and expect results in the coming year.
