secwatch.observer — SEC 8-K summary
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Issuer:     QNB CORP. (QNBC)
CIK:        0000750558
Form:       8-K
Filed at:   2024-01-23T23:59:59+00:00
Accession:  0000950170-24-006421
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/750558/000095017024006421/0000950170-24-006421-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/750558/000095017024006421/qnbc-20240123.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-006421

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