QNB Corp. Q3 net income falls 31% to $2.34M; EPS $0.65 vs $0.96 YoY

QNB CORP.

2023-Q3 EPS reported $2.32

Net interest income decreased $1.17M to $10.21M; net interest margin compressed to 2.38% from 2.72%.
Provision for credit losses on loans was $452,000 in Q3 2023 vs $0 in Q3 2022.
Non-performing loans improved to 0.55% of loans receivable from 0.88% at Dec 2022.
Total deposits grew $64.96M to $1.483B; short-term borrowings reduced 40.1%.
Non-interest expense increased $857K to $8.671M, driven by salaries and benefits.

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 the nine months ended September 30, 2023 results: net income $8,349,000, EPS $2.32 per share on a diluted basis.

Period: the nine months ended September 30, 2023
Net income: $8,349,000
EPS: $2.32 per share on a diluted basis
Result: reported results

Exact text from the filing

For the nine months ended September 30, 2023, QNB reported net income of $8,349,000, or $2.32 per share on a diluted basis.

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

QNB CORP. reported the third quarter ended September 30, 2023 results: net income $2,344,000, EPS $0.65 per share on a diluted basis.

Period: the third quarter ended September 30, 2023
Net income: $2,344,000
EPS: $0.65 per share on a diluted basis
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 third quarter of 2023 of $2,344,000, or $0.65 per share on a diluted basis.

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Source: SEC EDGAR

accession 0000950170-23-054853

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