secwatch.observer — SEC 8-K summary
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Issuer:     QUAINT OAK BANCORP, INC. (QNTO)
CIK:        0001391933
Form:       8-K
Filed at:   2023-07-31T23:59:59+00:00
Accession:  0000927089-23-000117
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Quaint Oak Q2 net income $570K, down 68% YoY; net interest margin falls to 2.66%
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- Net income $570K ($0.25 EPS) vs $1.8M ($0.87) in Q2 2022, a 68% decline; H1 2023 net income $1.1M ($0.51) vs $4.0M ($1.99).
- Net interest margin compressed to 2.66% from 3.54%; interest rate spread shrank from 3.37% to 1.83%.
- Non-interest income down 21.3% as net gain on loan sales fell 62.5%; management cites scarcity of liquidity from Fed balance sheet contraction.
- Non-performing assets only $73K (0.01% of assets); Texas Ratio at 0.13% as of June 30, 2023.
- Issued $14M aggregate subordinated notes due 2025; deposits rose 4.4% to $573.4M; FHLB borrowings reduced 28.4% to $114.0M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1391933/000092708923000117/0000927089-23-000117-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1391933/000092708923000117/qnto20230728_8k.htm
  HTML page:      https://secwatch.observer/filing/0000927089-23-000117

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