QNB Corp. to acquire The Victory Bancorp in all-stock merger

QNB CORP.

Each Victory share converts to 0.5500 shares of QNB common stock; no cash component.
Merger expected to close in Q4 2025 or Q1 2026, subject to shareholder and regulatory approvals.
Victory CEO Joseph W. Major to join QNB board as Vice Chair; termination fee $1.575M under certain conditions.
Victory Bank will merge into QNB Bank after effective time of the holding company merger.

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