QNB Corp Q2 net income falls 44% YoY to $1.9M ($0.52 EPS) on margin compression

QNB CORP.

2023-Q2 EPS reported $1.67

Diluted EPS $0.52 vs $0.94 in Q2 2022; 6-month EPS $1.67 vs $1.98.
Net interest margin narrowed to 2.27% from 2.73% as cost of funds rose 139 bps.
Total deposits grew $31M to $1.45B; short-term borrowing dropped 43.7%.
Provision for credit losses on loans was $212K in Q2 2023 vs zero in Q2 2022.
Non-performing loans improved to 0.86% of loans vs 1.18% a year ago.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

QNB CORP. reported six months ended June 30, 2023 results: net income $6,005,000, EPS $1.67.

Period: six months ended June 30, 2023
Net income: $6,005,000
EPS: $1.67
Result: reported results

Exact text from the filing

For the six months ended June 30, 2023, QNB reported net income of $6,005,000, or $1.67 per share on a diluted basis.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

QNB CORP. reported three months ended June 30, 2023 results: net income $1,887,000, EPS $0.52.

Period: three months ended June 30, 2023
Net income: $1,887,000
EPS: $0.52
Result: reported results

Exact text from the filing

QNB Corp. (the “Company” or “QNB”) (OTC Bulletin Board: QNBC), the parent company of QNB Bank (the “Bank”), reported net income for the second quarter of 2023 of $1,887,000, or $0.52 per share on a diluted basis.

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QNB CORP. filing history →

Source: SEC EDGAR

accession 0000950170-23-034481

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