QNB Corp Q4 2023 EPS $0.31 vs $1.52; sells $26M securities, takes $1.8M loss

QNB CORP.

2023-FY EPS reported $2.63

Net income Q4 2023: $1.134M ($0.31 diluted EPS) vs $5.447M ($1.52) in Q4 2022, a 79% decline.
Full year 2023 net income $9.483M ($2.63 EPS) vs $15.921M ($4.47 EPS) in 2022.
Net interest margin fell to 2.36% from 2.72% YoY due to higher deposit and borrowing costs.
Sold $26M book value of low-yielding securities, realized $1.8M pre-tax loss; proceeds reinvested in higher-yield cash.
Non-performing loans improved to 0.52% of loans from 0.88% at year-end 2022.

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 0.9

QNB CORP. reported the fourth quarter ended December 31, 2023 results: net income $1,134,000, or $0.31 per share on a diluted basis, EPS $0.31 per share on a diluted basis.

Period: the fourth quarter ended December 31, 2023
Net income: $1,134,000, or $0.31 per share on a diluted basis
EPS: $0.31 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 fourth quarter of 2023 of $1,134,000, or $0.31 per share on a diluted basis.

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Source: SEC EDGAR

accession 0000950170-24-006421

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