QNB Corp. (OTCQX: QNBC) details long-term president and CEO succession
Rhea-AI Filing Summary
QNB Corp. announced a long-term leadership succession plan for QNB Bank and the holding company. Effective November 1, 2026, Executive Vice President and Chief Operating Officer Christopher T. Cattie will become President of QNB Bank and join the Boards of Directors of both QNB Corp. and QNB Bank.
Current President and Chief Executive Officer David W. Freeman will continue as President and CEO of QNB Corp. and CEO of QNB Bank until his planned retirement on December 31, 2028. It is expected that Mr. Cattie will then assume the roles of President and Chief Executive Officer of both entities, providing for a multi-year transition. The company highlights Mr. Cattie’s decade-plus leadership experience and community involvement, and notes that the selection followed a comprehensive executive search and full Board review.
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8-K Event Classification
Key Figures
Key Terms
succession plan financial
Chief Operating Officer financial
executive search firm financial
Board of Directors financial
Registered Investment Advisor financial
loan production offices financial
UNITED STATESPRIVATE
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form
PURSUANT TO SECTIONS 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
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Item 5.02 |
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers |
On May 13, 2026, QNB Corp. (the “Company”) announced a succession plan relating to the positions of President and Chief Executive Officer of the Company and QNB Bank (the “Bank”), the Company’s wholly owned banking subsidiary.
Effective November 1, 2026, Christopher T. Cattie, currently Executive Vice President, Chief Operating Officer of the Bank, will assume the role of President of the Bank and will be appointed to the Boards of Directors of both the Bank and the Company as of that date. David W. Freeman, currently President and Chief Executive Officer of the Company and the Bank, will continue to serve as Chief Executive Officer of the Bank and President and Chief Executive Officer of the Company until his planned retirement on December 31, 2028. It is expected that Mr. Cattie will assume the roles of President and Chief Executive Officer of each of the Company and the Bank upon Mr. Freeman’s planned retirement.
A copy of the press release, dated May 13, 2026, announcing the planned succession is attached hereto as Exhibit 99.1.
Item 9.01 |
Financial Statements and Exhibits |
The following exhibits are filed herewith:
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99.1 |
Press Release, dated Mary 13, 2026 |
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Cover Page Interactive Data File (embedded within the Inline XBRL document). |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
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QNB Corp. |
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By: |
/s/ David W. Freeman |
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David W. Freeman |
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Chief Executive Officer |
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Dated: May 13, 2026 |
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FOR IMMEDIATE RELEASE
QNB Corp. Announces President Succession Plan
Chris Cattie Named Next President of QNB Bank
Quakertown, PA, May 13, 2026 (GLOBE NEWSWIRE) — QNB Corp. (“QNB”) (OTCQX: QNBC), the holding company for QNB Bank, announced today a key milestone in its long-term leadership succession planning. Following a comprehensive executive search process and Board review, Chris Cattie has been selected as the next President of QNB Bank.
Mr. Cattie will assume the role of Bank President and join the Board of Directors of QNB Corp., effective November 1, 2026. He will succeed current President Dave Freeman, who will remain as Chief Executive Officer of the Bank. Mr. Freeman will also continue to serve as President and Chief Executive Officer of the Company. It is expected that Mr. Cattie will assume the roles of President and Chief Executive Officer of both the Bank and the Company upon Mr. Freeman’s planned retirement on December 31, 2028, following a distinguished career with the organization. Mr. Cattie will serve as the Bank’s eighth president in its 149 years of community banking.
The selection follows a rigorous search conducted by an executive search firm in partnership with the Board’s Executive Committee, culminating in final interviews with several highly qualified candidates by the full Board of Directors.
Mr. Cattie has been a member of the QNB leadership team for more than 10 years, during which he has consistently delivered strong results while taking on increasing responsibilities. Most recently, he was appointed Chief Operating Officer on January 1, 2025.
“Chris has demonstrated exceptional leadership, a deep commitment to our culture, and a proven ability to drive results,” said Dave Freeman, President of QNB Bank, continuing, “his vision, energy, and dedication to our customers and communities make him the ideal choice to lead QNB into the future. I look forward to working closely with Chris and our Board to ensure a seamless and thoughtful transition.”
Mr. Cattie has a Bachelor of Science in Accounting & Management from Lock Haven University and an MBA in Management Information Systems from La Salle University. He is also a graduate
of the Pennsylvania Bankers Association Advanced School of Banking and the American Bankers Association Stonier Graduate School of Banking.
In addition to his professional accomplishments, Mr. Cattie is actively involved in the community and banking industry, serving in leadership roles with the Pennsylvania Bankers Association, Willow Charitable Fund, Willow Grove Rotary Club (President), Scouting America’s Washington Crossing Council (President), and the Willow Grove Community Development Corporation.
“Succession planning is one of the Board’s most important responsibilities, and we are confident Chris is the right leader at the right time for QNB,” said Randy Bimes, Chairman of the Board. “His experience, leadership track record, and strong connection to our mission position him to build on our success and guide the organization forward.”
Mr. Freeman and Mr. Cattie will work closely with the Board over the coming months to ensure a smooth leadership transition.
Advisor
Smith & Wilkinson acted as executive recruitment advisors to QNB. Founded in 1998, Smith & Wilkinson is a premier talent advisory firm, located in Portland, Maine, that supports clients in achieving their strategic objectives.
About the Company
QNB Corp. is the holding company for QNB Bank, which is headquartered in Quakertown, Pennsylvania, and its division, Victory Bank. QNB Bank operates twelve branches in Bucks, Lehigh, and Montgomery Counties, and its division, Victory Bank, operates two branches in Montgomery County and two loan production offices in Montgomery and Berks Counties. The two banks offer commercial, small business, and personal customers banking services, borrowing solutions, and cash management tools in the communities they serve. 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.
CONTACT: David W. Freeman
President & Chief Executive Officer
215-538-5600 x5619
dfreeman@qnbbank.com