QUAINT OAK BANCORP, INC.
For the period ended Dec 31, 2024. Filed Mar 28, 2025.
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FY2024 · Filed Mar 28, 2025
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EX-13.0 · Consolidated Balance Sheets
Consolidated Balance Sheets
| At December 31, | ||
|---|---|---|
| 2024 | 2023 | |
| (In thousands, except share and per share data) | ||
| Assets | ||
| Due from banks, non-interest-bearing | $345 | $767 |
| Due from banks, interest-bearing | 62,644 | 57,239 |
| Cash and cash equivalents | 62,989 | 58,006 |
| Investment in interest-earning time deposits | 912 | 1,912 |
| Investment securities available for sale | 1,666 | 2,341 |
| Loans held for sale | 64,281 | 36,448 |
| Loans receivable, net of allowance for credit losses (2024 $6,476; 2023 $6,758) | 534,693 | 617,701 |
| Accrued interest receivable | 3,961 | 3,502 |
| Investment in Federal Home Loan Bank stock, at cost | 2,214 | 1,474 |
| Bank-owned life insurance | 4,447 | 4,329 |
| Premises and equipment, net | 1,626 | 2,656 |
| Goodwill | 515 | 515 |
| Other intangible, net of accumulated amortization | 77 | 125 |
| Prepaid expenses and other assets | 7,787 | 5,134 |
| Assets from discontinued operations | - | 19,975 |
| Total Assets | $685,168 | $754,118 |
| Liabilities and Stockholders’ Equity | ||
| Liabilities | ||
| Deposits: | ||
| Non-interest bearing | $59,783 | $92,215 |
| Interest-bearing | 493,469 | 539,484 |
| Total deposits | 553,252 | 631,699 |
| Federal Home Loan Bank short-term borrowings | 45,000 | - |
| Federal Home Loan Bank long-term borrowings | 2,855 | 29,022 |
| Subordinated debt | 22,000 | 21,957 |
| Accrued interest payable | 937 | 541 |
| Advances from borrowers for taxes and insurance | 3,122 | 3,730 |
| Accrued expenses and other liabilities | 5,385 | 2,438 |
| Liabilities from discontinued operations | - | 13,166 |
| Total Liabilities | 632,551 | 702,553 |
| Stockholders’ Equity | ||
| Preferred stock – $0.01 par value, 1,000,000 shares authorized; none issued or outstanding | - | - |
| Common stock – $0.01 par value; 9,000,000 shares authorized; 3,108,993 and 2,895,675 issued as of December 31, 2024 and 2023,respectively; 2,626,535 and 2,407,048 outstanding at December 31, 2024 and 2023, respectively | 31 | 29 |
| Additional paid-in capital | 22,976 | 20,299 |
| Treasury stock, at cost: 482,458 and 488,627 shares at and December 31, 2024 and 2023, respectively | (3,588) | (3,568) |
| Accumulated other comprehensive loss | - | (10) |
| Retained earnings | 33,198 | 31,741 |
| Total Quaint Oak Bancorp, Inc. Stockholders’ Equity | 52,617 | 48,491 |
| Noncontrolling Interest | - | 3,074 |
| Total Stockholders’ Equity | 52,617 | 51,565 |
| Total Liabilities and Stockholders’ Equity | $685,168 | $754,118 |
Quaint Oak Bancorp, Inc.
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