QNB CORP
For the period ended Dec 31, 2023. Filed Mar 15, 2024.
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FY2023 · Filed Mar 15, 2024
QNBC$47.61+0.4%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Income
| (in thousands, except per share data) | |||
|---|---|---|---|
| Year ended December 31, | 2023 | 2022 | 2021 |
| Interest income | |||
| Interest and fees on loans | $53,884 | $40,922 | $38,330 |
| Interest and dividends on investment securities (AFS & Equity): | |||
| Taxable | 11,794 | 9,396 | 6,551 |
| Tax-exempt | 1,460 | 1,965 | 1,796 |
| Interest on interest-bearing balances and other interest income | 1,944 | 138 | 93 |
| Total interest income | 69,082 | 52,421 | 46,770 |
| Interest expense | |||
| Interest on deposits | |||
| Interest-bearing demand | 7,767 | 2,691 | 1,035 |
| Money market | 4,823 | 617 | 381 |
| Savings | 4,187 | 2,175 | 1,178 |
| Time less than $100 | 3,194 | 723 | 921 |
| Time $100 through $250 | 3,859 | 489 | 454 |
| Time greater than $250 | 1,171 | 209 | 257 |
| Interest on short-term borrowings | 3,273 | 861 | 258 |
| Interest on long-term debt | 653 | 159 | 159 |
| Total interest expense | 28,927 | 7,924 | 4,643 |
| Net interest income | 40,155 | 44,497 | 42,127 |
| (Reversal of) provision for credit losses | (844) | (850) | 458 |
| Net interest income after provision for loan losses | 40,999 | 45,347 | 41,669 |
| Non-interest income | |||
| Net unrealized gain (loss) on investment equity securities | 250 | (1,026) | 926 |
| Net (loss) gain on sale of investment securities | (2,077) | 266 | 1,806 |
| Net (loss) gain on investment securities | (1,827) | (760) | 2,732 |
| Fees for services to customers | 1,651 | 1,614 | 1,326 |
| ATM and debit card | 2,735 | 2,719 | 2,682 |
| Retail brokerage and advisory | 862 | 788 | 786 |
| Bank-owned life insurance | 320 | 361 | 497 |
| Merchant | 394 | 394 | 451 |
| Net gain on sale of loans | 16 | 6 | 595 |
| Other | 686 | 609 | 712 |
| Total non-interest income | 4,837 | 5,731 | 9,781 |
| Non-interest expense | |||
| Salaries and employee benefits | 19,026 | 17,306 | 17,453 |
| Net occupancy | 2,223 | 2,195 | 2,228 |
| Furniture and equipment | 3,602 | 2,917 | 2,787 |
| Marketing | 964 | 870 | 922 |
| Third party services | 2,422 | 2,474 | 2,160 |
| Telephone, postage and supplies | 571 | 748 | 715 |
| State taxes | 367 | 1,004 | 1,013 |
| FDIC insurance premiums | 1,058 | 768 | 793 |
| Other | 3,876 | 3,210 | 2,926 |
| Total non-interest expense | 34,109 | 31,492 | 30,997 |
| Income before income taxes | 11,727 | 19,586 | 20,453 |
| Provision for income taxes | 2,244 | 3,665 | 3,961 |
| Net income | $9,483 | $15,921 | $16,492 |
| Earnings per share - basic | $2.63 | $4.47 | $4.64 |
| Earnings per share - diluted | $2.63 | $4.47 | $4.64 |
| Cash dividends per share | $1.48 | $1.44 | $1.40 |
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