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Quaint Oak Bancorp Inc. is a community bank dedicated to helping customers build financial security through savings. Comprised of individuals working and residing in the community, Quaint Oak emphasizes exceptional customer service and multicultural diversity. The bank offers a range of services including loans, real estate, insurance, and mortgage solutions. With a strong commitment to shareholder value and profitability, Quaint Oak strives to maintain healthy capital ratios and provide personalized financial solutions for its customers.
Quaint Oak Bancorp (OTCQB: QNTO) declared a quarterly cash dividend of $0.13 per share on July 13, 2022, payable on August 8, 2022, to shareholders of record by the close of business on July 25, 2022. Quaint Oak Bancorp is the holding company for Quaint Oak Bank, which operates in the Delaware Valley, Lehigh Valley, and Philadelphia regions, and has various subsidiaries, including Quaint Oak Abstract, LLC and Quaint Oak Mortgage, LLC. This dividend declaration reflects the company’s ongoing commitment to returning value to shareholders.
Quaint Oak Bancorp, Inc. (OTCQB: QNTO) reported a net income of $2.2 million for Q1 2022, marking a 118.3% increase from $1.0 million in Q1 2021. Earnings per share rose to $1.12 basic and $1.05 diluted. Key contributors to this growth included a $2.1 million increase in net interest income and a $2.5 million rise in gross non-interest income. The net interest margin improved to 4.15% from 2.78%, driven by higher loan volumes and yields. Additionally, stockholders’ equity increased by $3.1 million, or 8.3%.
Quaint Oak Bancorp (OTCQB: QNTO) has declared a quarterly cash dividend of $0.13 per share, up from $0.11, marking an 18.2% increase. This decision was made during the Board of Directors meeting on April 13, 2022, and the dividend is payable on May 9, 2022, to shareholders on record as of April 25, 2022. CEO Robert T. Strong attributes this increase to the Company's strong financial performance in fiscal 2021, underscoring a commitment to long-term profitability and shareholder value.
Quaint Oak Bancorp (OTCQB: QNTO) reported a net income of $2.1 million for Q4 2021, a 93.6% increase from Q4 2020. For the year, net income reached $6.4 million, up 97.3% from 2020. Total assets grew by 14.5% to $554.1 million, driven by a $103.6 million loan production increase. The company also reduced deposit costs to 0.86%.
However, non-interest expenses rose by 76.5% compared to the previous year. Additionally, the provision for loan losses increased by 350.7%, reflecting impact from the COVID-19 pandemic.
Quaint Oak Bancorp, Inc. (OTCQB: QNTO) announced a quarterly cash dividend of $0.11 per share, set to be paid on February 7, 2022, for shareholders recorded by January 24, 2022. This decision was taken during the Board of Directors meeting on January 12, 2022. Quaint Oak Bancorp is the parent company of Quaint Oak Bank, which operates multiple subsidiaries in the Delaware Valley, Lehigh Valley, and Philadelphia markets.
Quaint Oak Bank, a subsidiary of Quaint Oak Bancorp (OTCQB: QNTO), has been recognized as one of the ‘Fastest Growing Companies’ in the Lehigh Valley for the sixth consecutive year. The Mortgage Company ranked tenth among thirty qualifying companies, reflecting significant growth in 2020 despite pandemic challenges. Furthermore, Quaint Oak Mortgage launched 'QO Direct,' an innovative remote application program enabling nationwide service with a comprehensive e-Close solution for various closing types.
Quaint Oak Bank, a subsidiary of Quaint Oak Bancorp (OTCQB: QNTO), has announced an expansion of its real estate operations with the opening of two new offices in Pennsylvania: Chalfont and Doylestown. This expansion extends its market reach into the Delaware Valley, complementing its existing presence in the Lehigh Valley. The initiative is bolstered by the hiring of experienced management, including Lynn Sharer as Manager and Broker of Record, and Janice Robinson to lead the Doylestown office. Quaint Oak Real Estate aims to double its sales agent count from approximately 36.
Quaint Oak Bancorp, Inc. (OTCQB: QNTO) reported a net income of $1.8 million for Q3 2021, up 76.8% from $1.0 million in Q3 2020. For the first nine months, net income rose 99.0% to $4.3 million. Key growth metrics include a 10.7% increase in total assets to $535.9 million, with loans held for sale doubling to $106.8 million. Deposits surged by 22.7% to $435.5 million, driven by significant growth in money market accounts. The company also launched Oakmont Commercial, LLC, expanding its real estate finance capabilities.
Quaint Oak Bancorp, Inc. (OTCQB: QNTO) has launched a new subsidiary, Oakmont Commercial, LLC, focused on specialty commercial real estate finance, based in Southampton, PA. Led by Ken Markizon, who has extensive banking experience, the new entity aims to expand the bank's footprint in commercial real estate lending nationally. Robert T. Strong, CEO of Quaint Oak Bank, emphasized the initiative's synergy with existing operations and its significance for growth. Quaint Oak Bank operates through regional offices in key Pennsylvania markets and manages several other subsidiaries.
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