QNB CORP.
For the period ended Dec 31, 2024. Filed Mar 18, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Mar 18, 2025
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, | 2024 | 2023 | 2022 |
| Interest income | |||
| Interest and fees on loans | $65,367 | $53,884 | $40,922 |
| Interest and dividends on investment securities (AFS & Equity): | |||
| Taxable | 14,090 | 11,794 | 9,396 |
| Tax-exempt | 1,424 | 1,460 | 1,965 |
| Interest on interest-bearing balances and other interest income | 3,187 | 1,944 | 138 |
| Total interest income | 84,068 | 69,082 | 52,421 |
| Interest expense | |||
| Interest on deposits | |||
| Interest-bearing demand | 10,019 | 7,767 | 2,691 |
| Money market | 8,181 | 4,823 | 617 |
| Savings | 3,651 | 4,187 | 2,175 |
| Time less than $100 | 6,808 | 3,194 | 723 |
| Time $100 through $250 | 6,570 | 3,859 | 489 |
| Time greater than $250 | 2,247 | 1,171 | 209 |
| Interest on short-term borrowings | 1,148 | 3,273 | 861 |
| Interest on long-term debt | 1,322 | 653 | 159 |
| Interest on subordinated debt | 1,260 | — | — |
| Total interest expense | 41,206 | 28,927 | 7,924 |
| Net interest income | 42,862 | 40,155 | 44,497 |
| (Reversal of) provision for credit losses | (68) | (844) | (850) |
| Net interest income after provision for loan losses | 42,930 | 40,999 | 45,347 |
| Non-interest income | |||
| Net unrealized (loss) gain on investment equity securities | (215) | 250 | (1,026) |
| Net gain (loss) on sale of investment securities | 919 | (2,077) | 266 |
| Net gain (loss) on investment securities | 704 | (1,827) | (760) |
| Fees for services to customers | 1,770 | 1,651 | 1,614 |
| ATM and debit card | 2,740 | 2,735 | 2,719 |
| Retail brokerage and advisory | 476 | 862 | 788 |
| Bank-owned life insurance | 332 | 320 | 361 |
| Merchant | 348 | 394 | 394 |
| Net gain on sale of loans | 29 | 16 | 6 |
| Other | 514 | 686 | 609 |
| Total non-interest income | 6,913 | 4,837 | 5,731 |
| Non-interest expense | |||
| Salaries and employee benefits | 19,741 | 19,026 | 17,306 |
| Net occupancy | 2,207 | 2,223 | 2,195 |
| Furniture and equipment | 3,973 | 3,602 | 2,917 |
| Marketing | 1,044 | 964 | 870 |
| Third party services | 2,595 | 2,422 | 2,474 |
| Telephone, postage and supplies | 505 | 571 | 748 |
| State taxes | 577 | 367 | 1,004 |
| FDIC insurance premiums | 1,156 | 1,058 | 768 |
| Other | 3,686 | 3,876 | 3,210 |
| Total non-interest expense | 35,484 | 34,109 | 31,492 |
| Income before income taxes | 14,359 | 11,727 | 19,586 |
| Provision for income taxes | 2,911 | 2,244 | 3,665 |
| Net income | $11,448 | $9,483 | $15,921 |
| Earnings per share - basic | $3.12 | $2.63 | $4.47 |
| Earnings per share - diluted | $3.12 | $2.63 | $4.47 |
| Cash dividends per share | $1.48 | $1.48 | $1.44 |
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