Quaint Oak Bancorp Inc

OTCQB:QNTOUnited States

Oct 31, 2024

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• -- Earnings Flash (QNTO) QUAINT OAK BANCORP Reports Q3 EPS $0.09, from 4:47PM ET on Thursday Oct 31, 2024 by MT Newswires

  4:47PM ET on Thursday Oct 31, 2024 by MT Newswires
  Companies Mentioned: QNTO
  04:47 PM EDT, 10/31/2024 (MT Newswires) -- ...

• *DJ Quaint Oak Bancorp 3Q EPS 9c >QNTO, from 4:42PM ET on Thursday Oct 31, 2024 by Dow Jones

  4:42PM ET on Thursday Oct 31, 2024 by Dow Jones
  Companies Mentioned: QNTO

• QUAINT OAK BANCORP, INC. ANNOUNCES THIRD QUARTER EARNINGS, from 4:42PM ET on Thursday Oct 31, 2024 by Dow Jones

  4:42PM ET on Thursday Oct 31, 2024 by Dow Jones
  Companies Mentioned: QNTO
  ------ ------ ------ ------ Interest Expense Interest on deposits 5,641 5,068 17,795 13,273 Interest on Federal Home Loan Bank short-term borrowings 32 783 32 3,583 Interest on Federal Home Loan Bank long-term borrowings 62 372 471 1,003 Interest on Federal Reserve Bank long-term borrowings - 11 - 30 Interest on subordinated debt 489 417 1,461 1,021 ------ ------ ------ ------ Total Interest Expense 6,224 6,651 19,759 18,910 ------ ------ ------ ------ Net Interest Income 4,248 4,460 13,732 15,023 Provision for Credit Losses -- Loans 143 270 1,227 279 (Recovery of) Provision for Credit Losses -- Unfunded Commitments (20) (13) (9) 181 ------ ------ ------ ------ Total Provision for Credit Losses 123 257 1,218 460 ------ ------ ------ ------ Net Interest Income after Provision for Credit Losses 4,125 4,203 12,514 14,563 ------ ------ ------ ------ Non-Interest Income Mortgage banking, equipment lending and title abstract fees 237 158 627 421 Real estate sales commissions, net - 16 20 88 Insurance commissions 198 190 526 486 Other fees and services charges 116 154 582 296 Net loan servicing income 2 2 5 147 Income from bank-owned life insurance 30 26 87 75 Net gain on sale of loans 503 381 1,998 1,209 Gain on sale of Oakmont Capital, LLC - - 1,378 - Gain on the sale of SBA loans 124 95 251 346 ------ ------ ------ ------ Total Non-Interest Income 1,210 1,022 5,474 3,068 ------ ------ ------ ------ Non-Interest Expense Salaries and employee benefits 3,483 3,301 10,818 10,424 Directors' fees and expenses 52 108 153 315 Occupancy and equipment 330 446 996 1,138 Data processing 321 311 894 737 Professional fees 26 255 323 597 FDIC deposit insurance assessment 158 197 494 669 Advertising 42 42 202 208 Amortization of other intangible 12 12 36 36 Other 500 473 1,368 1,367 ------ ------ ------ ------ Total Non-Interest Expense 4,924 5,145 15,284 15,491 ------ ------ ------ ------ Income from Continuing Operations Before Income Taxes $ 411 $ 80 $ 2,704 $ 2,140 Income Taxes 168 35 902 648 ------ ------ ------ ------ Net Income from Continuing Operations $ 243 $ 45 $ 1,802 $ 1,492 ------ ------ ------ ------ Loss from Discontinued Operations - (417) (814) (852) ------ ------ ------ ------ Income Tax Benefit - (117) (228) (238) ------ ------ ------ ------ Net Loss from Discontinued Operations $ - $ (300) $ (586) $ (614) ------ ------ ------ ------ Net Income (Loss) $ 243 $ (255) $ 1,216 $ 878 ====== ====== ====== ====== Three Months Ended Nine Months Ended September 30, September 30, ---------------------- ----------------------- 2024 2023 2024 2023 ---------- ---------- ---------- ---------- (Unaudited) (Unaudited) Per Common Share Data: Earnings per share from continuing operations -- basic $ 0.09 $ 0.02 $ 0.70 $ 0.68 --------- --------- --------- --------- Earnings per share from discontinued operations -- basic $ - $ (0.13) $ (0.23) $ (0.28) --------- --------- --------- --------- Earnings per share, net -- basic $ 0.09 $ (0.11) $ 0.47 $ 0.40 --------- --------- --------- --------- Average shares outstanding -- basic 2,631,048 2,244,163 2,560,993 2,221,441 --------- --------- --------- --------- Earnings per share from continuing operations -- diluted $ 0.09 $ 0.02 $ 0.70 $ 0.66 --------- --------- --------- --------- Earnings per share from discontinued operations -- diluted $ - $ (0.13) $ (0.23) $ (0.27) --------- --------- --------- --------- Earnings per share, net -- diluted $ 0.09 $ (0.11) $ 0.47 $ 0.39 --------- --------- --------- --------- Average shares outstanding - diluted 2,631,048 2,244,163 2,560,993 2,255,315 --------- --------- --------- --------- Book value per share, end of period $ 19.52 $ 20.12 $ 19.52 $ 20.12 --------- --------- --------- --------- Shares outstanding, end of period 2,633,374 2,273,051 2,633,374 2,273,051 ========= ========= ========= ========= Three Months Ended Nine Months Ended September 30, September 30, -------------------- ------------------- 2024 2023 2024 2023 ------- ------- ------ ------- (Unaudited) (Unaudited) Selected Operating Ratios: Average yield on interest-earning assets 6.37% 6.02% 6.36% 5.91% Average rate on interest-bearing liabilities 4.50% 4.29% 4.53% 3.88% Average interest rate spread 1.87% 1.73% 1.83% 2.03% Net interest margin 2.58% 2.42% 2.61% 2.62% Average interest-earning assets to average interest-bearing liabilities 118.69% 118.94% 120.80% 118.01% Efficiency ratio 90.22% 101.55% 79.59% 85.63% Asset Quality Ratios (1) Non-performing loans as a percent of total loans receivable, net 0.99% 0.02% 0.99% 0.02% Non-performing assets as a percent of total assets 0.77% 0.02% 0.77% 0.02% Allowance for credit losses as a percent of non-performing loans 126.88% n/m 126.88% n/m Allowance for credit losses as a percent of total loans receivable 1.24% 1.11% 1.24% 1.11% Texas Ratio (2) 8.42% 0.22% 8.42% 0.22%