secwatch.observer — SEC 8-K summary
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Issuer:     QUAINT OAK BANCORP, INC. (QNTO)
CIK:        0001391933
Form:       8-K
Filed at:   2023-05-01T23:59:59+00:00
Accession:  0000927089-23-000064
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Quaint Oak Bancorp Q1 net income plunges 75% to $563K on margin compression and lower fee income
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- Net income of $563K ($0.26 basic EPS) vs $2.2M ($1.12) a year ago, down 75% YoY.
- Net interest margin narrowed to 2.72% from 4.15% as average money market rates rose 321 bps.
- Non-interest income fell $2.1M (38.6%) led by 79% drop in net gain on loan sales.
- Deposits grew $5.2M to $554.4M; non-interest-bearing deposits increased $6.5M.
- Asset quality improved: NPLs/loans 0.25%, NPAs/assets 0.19%, Texas ratio 2.73%; capital up $13.7M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1391933/000092708923000064/0000927089-23-000064-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1391933/000092708923000064/qnto20230428_8k.htm
  HTML page:      https://secwatch.observer/filing/0000927089-23-000064

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer