QUAINT OAK BANCORP INC - QNTO STOCK NEWS

Quaint Oak Bancorp, Inc. (OTCQB: QNTO) announced a quarterly cash dividend of $0.13 per share on April 12, 2023. This dividend will be payable on May 8, 2023 to shareholders on record by April 24, 2023. Quaint Oak Bancorp is the parent company of Quaint Oak Bank, operating in Pennsylvania with a focus on financial services. Quaint Oak Bank includes various subsidiaries such as Quaint Oak Abstract, LLC and Quaint Oak Insurance Agency, LLC, and serves regional markets in the Delaware Valley, Lehigh Valley, and Philadelphia. The company also has a significant equity position in Oakmont Capital Holdings, LLC, indicating a diverse service offering in banking and financing.

Quaint Oak Bancorp, Inc. (OTCQB: QNTO) announced the successful completion of a private offering totaling $12 million in subordinated notes, maturing on March 15, 2025. The notes carry a fixed interest rate of 8.50%, with interest payments scheduled for March 15 and September 15 starting this year. Proceeds will be used for general corporate purposes. The company can redeem these notes in full beginning on March 15, 2024. CEO Robert T. Strong expressed satisfaction with the transaction's positive response. This offering aims to strengthen the bank's capital base and support its operations.

Quaint Oak Bancorp, Inc. (OTCQB: QNTO) reported net income of $1.2 million for Q4 2022, a decrease of 41.9% from $2.1 million in Q4 2021. For the full year, net income rose 22.8% to $7.9 million. Total assets grew 43% year-over-year to $792.4 million, supported by a significant increase in loans receivable. However, Q4 net interest income fell by $470,000 due to rising interest expenses, which surged by 302.4% to $3 million. Non-interest income decreased by 12.8%, attributed mainly to lower gains on loans held for sale. The company declared a quarterly dividend of $0.13 per share payable on February 6, 2023.

Quaint Oak Bancorp, Inc. (OTCQB: QNTO) announced a quarterly cash dividend of $0.13 per share, effective February 6, 2023, for shareholders on record by January 23, 2023. The Board of Directors made this decision during their meeting on January 11, 2023. Quaint Oak Bancorp operates Quaint Oak Bank and its subsidiaries, covering financial services including abstract, insurance, mortgage, and commercial real estate financing across multiple states. The company is headquartered in Southampton, Pennsylvania.

Quaint Oak Bancorp reported a record net income of $2.6 million for Q3 2022, compared to $1.8 million in Q3 2021, marking a 47.9% increase. For the first nine months of 2022, net income surged 54.0% to $6.7 million. Key drivers included a 43.4% rise in loans receivable and 66.6% growth in non-interest income, primarily from loan sales. Despite higher interest expenses, total assets climbed 27.6% to $707.3 million. Stockholders' equity increased 23.6% to $45.6 million.

Quaint Oak Bancorp, Inc. (OTCQB: QNTO) announced a quarterly cash dividend of $0.13 per share, scheduled for payment on November 7, 2022. Shareholders of record as of October 24, 2022 will be eligible. The company, based in Southampton, Pennsylvania, operates through its wholly-owned subsidiary, Quaint Oak Bank, and various related entities across multiple states. The announcement reflects the company's commitment to returning value to its shareholders.

Quaint Oak Bancorp, Inc. (QNTO) reported a net income of $1.8 million for Q2 2022, up 17.3% from $1.5 million in Q2 2021. For the first half of 2022, net income rose 58.3% to $4.0 million compared to $2.5 million in H1 2021. The company’s total assets increased by 35.7% to $751.9 million. Major contributors to income included a strategic purchase of a $55.5 million commercial real estate loan portfolio. The Texas Ratio increased to 3.42%, but non-performing loans remained low at 0.32% of total loans. Stockholders’ equity grew by 14.3%, emphasizing strong commitment to shareholder value.