Quaint Oak Bank Announces the Expansion of Quaint Oak Real Estate, LLC

Rhea-AI Summary

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.

Positive

• Expansion into Delaware Valley market, enhancing regional reach.
• Appointment of experienced management team to drive growth.
• Potential to double the number of sales agents, indicating growth strategy.

Negative

• None.

SOUTHAMPTON, Pa., Nov. 02, 2021 (GLOBE NEWSWIRE) -- Quaint Oak Bank, the wholly-owned subsidiary of Quaint Oak Bancorp, Inc. (OTCQB: QNTO), announced the expansion of Quaint Oak Real Estate, LLC, their Residential and Commercial real estate sales and management company. This expansion comes with the establishment of two new office locations.

One new office is located in Chalfont, Pa., and will serve as the control center for both Quaint Oak Real Estate and Quaint Oak Insurance Agency. The second office is located in Doylestown, Pa. This initiative expands Quaint Oak Real Estate into the Delaware Valley market in addition to the Lehigh Valley market initially served.

With this expansion comes new, experienced, high profile management. Quaint Oak Bank is pleased to announce the appointment of Lynn Sharer as Quaint Oak Real Estate’s Manager and Broker of Record. Lynn comes to Quaint Oak Real Estate with over twenty years’ experience in both sales and company management. Janice Robinson, with decades of experience as a Broker and sales manager, will lead the Doylestown location. Currently Quaint Oak Real Estate boasts approximately three dozen sales agents across the three locations with the goal of doubling that number as the company moves forward.

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 new offices did Quaint Oak Bank open in November 2021?

Quaint Oak Bank opened new offices in Chalfont and Doylestown, Pennsylvania.

Who is managing the new Doylestown location for Quaint Oak Real Estate?

Janice Robinson will lead the Doylestown location.

What is the goal for Quaint Oak Real Estate's sales agent count?

The goal is to double the current number of approximately 36 sales agents.

What does the expansion of Quaint Oak Real Estate signify for QNTO?

The expansion indicates growth opportunities and an enhanced market presence for Quaint Oak Bancorp (QNTO).