secwatch.observer — SEC 8-K summary
======================================

Issuer:     QNB CORP. (QNBC)
CIK:        0000750558
Form:       8-K
Filed at:   2023-04-25T23:59:59+00:00
Accession:  0000950170-23-014363
Event type: earnings
Sentiment:  neutral
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

QNB Corp Q1 net income $4.12M ($1.15 EPS) up 11% YoY; provision reversal boosts earnings
--------------------------------------------------------------------------------

- Net income $4.12M, diluted EPS $1.15; YoY net income increased from $3.71M ($1.04 EPS).
- Reversed $1.783M provision for credit losses on loans in Q1 2023 vs no provision in Q1 2022.
- Net interest margin fell to 2.55% from 2.71% YoY on higher deposit costs (cost of funds +119bp).
- Non-performing loans improved to 0.87% of loans from 0.88% at Dec 2022 and 1.26% a year ago.
- Total assets $1.626B, down 2.5% from Dec 2022; deposits up $6.2M to $1.425B.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/750558/000095017023014363/0000950170-23-014363-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/750558/000095017023014363/qnbc-20230425.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-014363

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