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Q N B Corp (QNBC) is a leading financial institution offering commercial and retail banking services through its subsidiary, QNB Bank. The company recently declared a quarterly cash dividend of $0.37 per share, showcasing its strong financial performance and commitment to shareholder value. With twelve banking offices, Q N B Corp has established a solid presence in the market, providing a wide range of banking solutions to customers. The stock is traded under the symbol 'QNBC' in the over-the-counter market, reflecting investor confidence in the company's future prospects. For more information about Q N B Corp and its services, visit the company's website at QNBbank.com.
QNB Corp. (OTC Bulletin Board: QNBC) reported a net income of $4,118,000 or $1.15 per share for Q1 2023, up from $3,710,000 or $1.04 per share in Q1 2022. The annualized return on assets and equity improved to 0.97% and 10.81%, respectively. The quarter benefited from a $1,783,000 reversal in the provision for credit losses, enhancing asset quality. Total assets decreased to $1,626,499,000, with loans receivable down by $27,429,000 (2.6%). Total deposits rose by $6,221,000 to $1,424,590,000. Net interest income fell to $10,417,000, with a net interest margin of 2.55%. Total non-interest income declined to $1,219,000, while non-interest expenses rose to $8,178,000.
On February 28, 2023, QNB Corp. (OTC: QNBC) announced a quarterly cash dividend of $0.37 per share, payable on March 31, 2023, to shareholders of record by March 17, 2023. This decision reflects the company's continued commitment to returning value to its shareholders amid its operations as a provider of commercial and retail banking services through QNB Bank, which has twelve banking offices. The corporation remains focused on enhancing shareholder income and maintaining a sustainable growth trajectory.
Quakertown, PA (February 22, 2023) - QNB Bank announced a $3 million commitment to support low-to-moderate income individuals via the QNB Housing Opportunity Program. This initiative features relaxed lending guidelines, including 100% financing, no origination fees, and acceptance of lower credit scores. Borrowers must complete homebuying counseling to ensure they are financially prepared. This program aims to help more individuals qualify for home mortgage loans, fostering community growth. QNB Bank operates twelve branches in Bucks, Montgomery, and Lehigh Counties, offering various banking services.
QNB Corp. (OTC: QNBC) reported a net income of $5,447,000, or $1.52 per diluted share for Q4 2022, an increase from $4,149,000, or $1.17 per share in Q4 2021.
Annual net income for 2022 was $15,921,000, down from $16,492,000 in 2021. Total assets decreased to $1.67 billion. Net interest income rose to $11,279,000 for Q4 and $44,497,000 for the year. The loan portfolio grew by $124.5 million, driven by commercial loans.
Non-interest income saw a decline of $4 million year-over-year. Despite challenges, QNB's financial metrics showed improvement, with a strong return on equity at 14.38%.
The Board of Directors of QNB Corp. (OTC: QNBC) declared a quarterly cash dividend of $0.36 per share at their meeting on November 22, 2022. This dividend is payable on December 30, 2022 to shareholders of record as of December 16, 2022. QNB Corp. operates through its subsidiary, QNB Bank, which provides commercial and retail banking services across twelve locations.
On November 1, 2022, QNB Bank appointed Jeffrey Lehocky as Executive Vice President and Chief Financial Officer. In this role, he will oversee all accounting, financial, and treasury operations. Lehocky brings extensive experience from his previous positions, including Managing Director at Mitsubishi UFJ Financial Group and various roles at Deutsche Bank. His educational background includes a Bachelor’s in Accounting and an MBA in Finance. QNB Bank, a community bank with assets of approximately $1.6 billion, operates twelve branches across Pennsylvania.
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