earnings
confidence high
sentiment negative
materiality 0.75
Quaint Oak Bancorp Q2 net income falls 82.5% to $100k; NPLs rise to $8.7M
QUAINT OAK BANCORP, INC.
2024-Q2 EPS reported
$0.39
- Net income of $100k ($0.04/sh) vs $570k ($0.25/sh) in Q2 2023, down 82.5%.
- Total assets decreased $52.2M (6.9%) to $701.9M; loans held for sale down 72.4%.
- Provision for credit losses increased $148k (78.3%) to $337k; NPLs rose to $8.7M (1.46% of loans).
- Net interest margin compressed from 2.65% to 2.28% YoY; margin compression cited as headwind.
- Dividend of $0.13/sh declared payable Aug 5, 2024; two private placements raised $2.5M.