QNB Corp Q1 2024 net income $2.59M, down 37% from Q1 2023; EPS $0.71 vs $1.15

QNB CORP.

2024-Q1 EPS reported $0.71

Net income $2,594,000 ($0.71 diluted EPS) vs $4,118,000 ($1.15) year ago; ROA 0.59% vs 0.96%.
Net interest income $10,168,000 (-$249K YoY); net interest margin 2.39% vs 2.55% on deposit cost rise.
Loans +2.7% to $1.123B; deposits +3.2% to $1.536B; short-term borrowings -41.5%.
Credit stable: NPLs 0.18% of loans; provision reversal $93K vs $1.783M reversal prior year.
Non-interest expense +$633K to $8,833K driven by salaries/benefits (+$411K) and FDIC insurance (+$170K).

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 first quarter ended March 31, 2024 results: net income $2,594,000, EPS $0.71 per share on a diluted basis.

Period: the first quarter ended March 31, 2024
Net income: $2,594,000
EPS: $0.71 per share on a diluted basis
Result: reported results

Exact text from the filing

QNB Corp. announced its consolidated financial results for the first quarter ended March 31, 2024.

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Source: SEC EDGAR

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