QUAINT OAK BANCORP INC - QNTO STOCK NEWS

Quaint Oak Bancorp (OTCQB: QNTO), the holding company for Quaint Oak Bank, has declared a quarterly cash dividend of $0.13 per share on its common stock. The dividend will be payable on November 12, 2024, to shareholders of record at the close of business on October 28, 2024. Quaint Oak Bancorp is a Financial Services Company and the parent company for the Quaint Oak Family of Companies, which includes Quaint Oak Bank and its subsidiaries: Quaint Oak Abstract, Quaint Oak Insurance Agency, Quaint Oak Mortgage, and Oakmont Commercial. These companies operate across multiple states, serving the Delaware Valley, Lehigh Valley, and Philadelphia markets.

Quaint Oak Bancorp (OTCQB: QNTO) reported net income of $100,000 ($0.04 per share) for Q2 2024, a significant drop from $570,000 ($0.25 per share) year-over-year. For the first half of 2024, net income was $973,000 ($0.39 per share), down from $1.1 million ($0.51 per share) in the same period in 2023. The decline is attributed to a reduction in loans held for sale after selling a 51% stake in Oakmont Capital Holdings and continued margin compression.

Positively, non-interest income rose by 25% ($261,000) for the quarter, and the company's liquidity and capital ratios remained strong, with liquidity at 10% and total capital ratio at 13.89%. Additionally, two private placements totaling $2.5 million and the declaration of a $0.13 per share dividend demonstrate a commitment to shareholder value.

However, challenges include an 82.5% decrease in quarterly net income, increased provisions for credit losses, and higher interest expenses. Non-performing loans have also shown an uptick.

Quaint Oak Bancorp announced a quarterly cash dividend of $0.13 per share on its common stock, payable on August 5, 2024, to shareholders of record as of July 22, 2024. The announcement was made following a Board of Directors meeting on July 10, 2024. Quaint Oak Bancorp, a financial services company and parent to Quaint Oak Bank and its subsidiaries, operates in multi-state regions through offices in the Delaware Valley, Lehigh Valley, and Philadelphia markets. The subsidiaries include Quaint Oak Abstract, Quaint Oak Insurance Agency, Quaint Oak Mortgage, and Oakmont Commercial, which focus on commercial real estate financing.

Quaint Oak Bancorp, Inc. announced first quarter earnings with a 55.1% increase in net income compared to the same period last year. The company sold its interest in two subsidiary companies for better productivity, reducing losses. There was a significant reduction in loans held for sale, resulting in a realignment of the balance sheet. Non-performing loans increased, but remain manageable. The Board declared a dividend of $0.13 per share for the first quarter. Total assets increased to $775.5 million, with improvements in total deposits and stockholders' equity.

Quaint Oak Bancorp, Inc. announces a quarterly cash dividend of $0.13 per share on common stock. The dividend is payable on May 6, 2024, to shareholders of record on April 22, 2024. Quaint Oak Bank, the parent company, operates through various subsidiaries in the financial services sector.

Quaint Oak Bancorp, Inc. reported net income of $1.1 million for Q4 2023, compared to $1.2 million in Q4 2022. For the full year 2023, net income was $2.0 million, down from $7.9 million in 2022. The company's capital ratios increased, and liquidity improved with an increase in cash and cash equivalents. However, there was a decrease in total assets, loans held for sale, and net interest income.

Quaint Oak Bancorp, Inc. (OTCQB: QNTO) announced a quarterly cash dividend of $0.13 per share on the common stock payable on February 5, 2024. The company is the parent company for the Quaint Oak Family of Companies, including Quaint Oak Bank and several subsidiary companies. Quaint Oak Bank conducts business through regional offices in the Delaware Valley, Lehigh Valley, and Philadelphia markets. The company also has a majority equity position in Oakmont Capital Holdings, LLC, a multi-state equipment finance company.

Quaint Oak Bancorp, Inc. announced a net loss of $255,000 for Q3 2023, compared to net income of $2.6 million in Q3 2022. Net income for the nine months ended September 30, 2023, was $878,000, compared to $6.7 million in the same period in 2022. The decrease in net income was primarily due to a decrease in non-interest income, an increase in non-interest expense, and a decrease in net interest income. The company's total assets decreased by $30.2 million to $762.2 million, primarily due to a decrease in loans held for sale and investment in Federal Home Loan Bank stock.

Quaint Oak Bancorp declares quarterly cash dividend of $0.13 per share