QNB Corp. Q2 earnings fall to $0.94/share; holdco equity portfolio drags results

QNB CORP.

2022-Q2 EPS reported $1.98

Diluted EPS $0.94 vs $1.09 in Q2 2021; net income $3.35M down 13.4%.
QNB Bank net income rose 24% to $4.08M; holdco loss of $733M from equity fair value.
Net interest income grew 8.7% to $11.1M; net interest margin slightly narrowed to 2.73%.
Non-performing loans improved to 1.18% of loans; no provision for loan losses in Q2.
Deposits up $18M to $1.468B; loans ex-PPP grew $47M to $960M.

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