secwatch.observer — SEC 8-K summary
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Issuer:     QNB CORP. (QNBC)
CIK:        0000750558
Form:       8-K
Filed at:   2024-04-23T23:59:59+00:00
Accession:  0000950170-24-046745
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/750558/000095017024046745/0000950170-24-046745-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/750558/000095017024046745/qnbc-20240423.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-046745

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