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

Issuer:     QNB CORP. (QNBC)
CIK:        0000750558
Form:       8-K
Filed at:   2023-07-25T23:59:59+00:00
Accession:  0000950170-23-034481
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/750558/000095017023034481/0000950170-23-034481-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/750558/000095017023034481/qnbc-20230725.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-034481

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