{"schema_version":"secwatch.filing_event.v1","accession":"0000927089-23-000159","form_type":"8-K","ticker":"QNTO","cik":"0001391933","company_name":"QUAINT OAK BANCORP, INC.","filed_at":"2023-12-15T23:59:59+00:00","discovered_at":"2026-05-14T18:03:28.840220+00:00","generated_at":"2026-06-07T11:48:00.917342+00:00","sec_items":["4.02","9.01"],"event_type":"other_material","sentiment":"negative","materiality_score":0.55,"calibrated_materiality_score":0.55,"confidence":"high","headline":"Quaint Oak Bancorp restates Jun/Sep 2023 financials on deposit reclassification; net income unchanged","bullets":["Audit Committee determined June 30, 2023 and September 30, 2023 financial statements should no longer be relied upon.","Correspondent relationship deposits reclassified from non-interest to interest-bearing, increasing interest expense by $750k (Q3) and $456k (Q2 2023).","Net interest income decreased by $750k (Q3) and $456k (Q2), but net income and EPS unchanged for both periods.","Total deposits and stockholders' equity unchanged; no impact on statement of cash flows.","Company to amend Form 10-Qs for Q2 and Q3 2023; management discussed with auditor S.R. Snodgrass."],"urls":{"canonical":"https://secwatch.observer/filing/0000927089-23-000159","json":"https://secwatch.observer/filing/0000927089-23-000159.json","markdown":"https://secwatch.observer/filing/0000927089-23-000159.md","text":"https://secwatch.observer/filing/0000927089-23-000159.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1391933/000092708923000159/0000927089-23-000159-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1391933/000092708923000159/qnto20231212_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-07T11:48:00.917342+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"46e29ab2fec37e5c78fc3239663f89dba453c4a9","claim":"QUAINT OAK BANCORP, INC. reported that prior financial statements should not be relied upon.","evidence_excerpt":"(the “Company,” “we” or “our”) concluded that the Company’s previously issued consolidated financial statements for the interim periods ended June 30, 2023 and September 30, 2023 (the “Restated Periods”), should no longer be relied upon because of a reclassification related to expenses on deposit accounts obtained from a correspondent banking relationship that resulted in material misstatements of interest expense and other non-interest expense for the Restated Periods. The Company entered into the correspondent banking relationship in May 2022. The Audit Committee concluded that the effect on the consolidated financial statements for the three months ended March 31, 2023 and the year ended December 31, 2022 were not material. Additionally, the Company’s earnings releases and other public communications for the Restated Periods should no longer be relied upon to the extent that they rela","evidence_source":"SEC 8-K Item 4.01/4.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1391933/000092708923000159/0000927089-23-000159-index.htm","confidence":0.9,"family_label":"Auditor Changes","details":[{"label":"Action","value":"non reliance"},{"label":"Auditor","value":"S.R. Snodgrass, P.C."}],"fact_type":"auditor_change"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}