Quaint Oak Bank Announces Its Newest Endeavor Oakmont Commercial, LLC

Rhea-AI Summary

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.

Positive

• Launch of Oakmont Commercial, LLC, expands service offerings in specialty real estate finance.
• Experienced leadership in Ken Markizon enhances operational capabilities.
• Strategic initiative aligns with overall growth objectives of Quaint Oak Bancorp.

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• None.

SOUTHAMPTON, Pa., Oct. 20, 2021 (GLOBE NEWSWIRE) -- Quaint Oak Bank, the wholly-owned subsidiary of Quaint Oak Bancorp, Inc. (OTCQB: QNTO), announced its launch of Oakmont Commercial, LLC, a multi-state Specialty commercial real estate finance company based in Southampton, Pa.

Oakmont Commercial will be led by Ken Markizon, President & CEO of this new subsidiary company of Quaint Oak Bank. Ken’s experience within the Banking sector began in 1992. His move into this specialty business line began in 2003, providing him with 18 years of operational experience including six years as a prior Company President.

Robert T. Strong, President & CEO of Quaint Oak Bank stated, “It is very rewarding to expand our engagement in this specialty line of Commercial Real Estate lending with the formation of this company and the staged addition of an experienced Team. It is, also, very gratifying to bring on experienced leadership that will take this endeavor forward on a National platform. The addition of this company adds to the synergy of our existing Family of Companies as we continue to grow together.”

Quaint Oak Bancorp, Inc. is the parent company for the Quaint Oak Family of Companies. Quaint Oak Bank, a Pennsylvania-chartered stock savings bank and wholly owned subsidiary of Quaint Oak Bancorp, is headquartered in Southampton, Pennsylvania and conducts business through three regional offices located in the Delaware Valley, Lehigh Valley and Philadelphia markets. Quaint Oak Bank’s subsidiary companies include Quaint Oak Abstract, LLC, Quaint Oak Insurance Agency, LLC, Quaint Oak Mortgage, LLC, Quaint Oak Real Estate, LLC and Oakmont Commercial, LLC. Additionally, the Bank holds a majority equity position in Oakmont Capital Holdings, LLC, a multi-state equipment finance company based in West Chester, Pennsylvania with a second significant facility located in Albany, Minnesota.

Contact:
Robert T. Strong
President & CEO
Quaint Oak Bancorp, Inc.
Quaint Oak Bank
215-364-4059

FAQ

What is Oakmont Commercial, LLC?

Oakmont Commercial, LLC is a newly launched subsidiary of Quaint Oak Bank focused on specialty commercial real estate finance.

Who is leading Oakmont Commercial, LLC?

The subsidiary is led by Ken Markizon, who has over 18 years of operational experience in the banking sector.

What does Quaint Oak Bancorp, Inc. do?

Quaint Oak Bancorp, Inc. is the parent company of Quaint Oak Bank and its various subsidiaries, offering financial services in commercial real estate and more.

What is the significance of Oakmont Commercial's launch for QNTO investors?

The launch represents a strategic expansion into the commercial real estate lending sector, potentially enhancing revenue streams for QNTO investors.

When was Oakmont Commercial, LLC launched?

Oakmont Commercial, LLC was officially launched on October 20, 2021.