QNB CORP.
For the period ended Dec 31, 2025. Filed Mar 16, 2026.
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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.
FY2025 · Filed Mar 16, 2026
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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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEM ENTS OF CASH FLOWS
| (in thousands) | |||
|---|---|---|---|
| Year ended December 31, | 2025 | 2024 | 2023 |
| Operating Activities | |||
| Net income | $14,090 | $11,448 | $9,483 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 1,604 | 1,726 | 1,714 |
| Provision (reversal of provision) for credit losses | 449 | (68) | (844) |
| Net (gain) loss on sales of investment debt and equity securities | — | (919) | 2,077 |
| Net unrealized loss (gain) on equity securities | — | 215 | (250) |
| Net gain on sale of loans | (63) | (29) | (16) |
| Proceeds from sales of residential mortgages held-for-sale | 2,254 | 1,765 | 989 |
| Origination of residential mortgages held-for-sale | (3,386) | (1,851) | (1,522) |
| Increase on bank-owned life insurance | (338) | (332) | (320) |
| Stock-based compensation expense | 334 | 199 | 185 |
| Amortization of deferred costs on subordinated debt | 200 | 56 | — |
| Deferred income tax provision (benefit) | (107) | 92 | 52 |
| Net increase (decrease) in income taxes payable | 1,942 | 539 | (2,094) |
| Net decrease (increase) in accrued interest receivable | 126 | 1,136 | (1,063) |
| Fair value remeasurements on interest rate swap | (164) | (44) | (57) |
| Amortization of mortgage servicing rights and change in valuation allowance | 49 | 50 | 61 |
| Net amortization of premiums and discounts on investment securities | 1,122 | 1,316 | 1,665 |
| Net (decrease) increase in accrued interest payable | (2,530) | 2,286 | 4,827 |
| Operating lease payments | (641) | (633) | (626) |
| Increase in other assets | 629 | (991) | (91) |
| Increase (decrease) in other liabilities | 1,052 | 256 | 287 |
| Net cash provided by operating activities | 16,622 | 16,217 | 14,457 |
| Investing Activities | |||
| Proceeds from payments, maturities and calls of investment debt securities available-for-sale | 104,326 | 64,959 | 50,042 |
| Proceeds from the sale of investment securities available-for-sale | — | 13,139 | 33,213 |
| Purchases of investment securities available-for-sale | (80,940) | (130,679) | (14,381) |
| Proceeds from the sale of equity securities | — | 8,880 | 8,556 |
| Purchases of equity securities | — | (1,170) | (2,179) |
| Proceeds from redemption of investment in restricted bank stock | 4,319 | 103 | 7,629 |
| Purchase of restricted bank stock | (5,546) | (2,809) | (5,166) |
| Net increase in loans | (44,402) | (122,574) | (53,910) |
| Net purchases of premises and equipment | (1,136) | (3,516) | (765) |
| Redemption of Bank Owned Life Insurance investment | — | 341 | — |
| Net cash (used) provided in investing activities | (23,379) | (173,326) | 23,039 |
| Financing Activities | |||
| Net increase (decrease) in non-interest bearing deposits | 6,458 | (1,599) | (46,751) |
| Net increase in interest-bearing deposits | 7,512 | 141,427 | 117,095 |
| Net increase (decrease) in short-term borrowings | 26,757 | (40,250) | (67,233) |
| Issuance of long-term debt | — | 10,000 | 20,000 |
| Repayment of long-term debt | (30,000) | — | (10,000) |
| Issuance of subordinated debt | — | 40,000 | — |
| Cash dividends paid, net of reinvestment | (5,000) | (4,798) | (4,671) |
| Proceeds from issuance of common stock | 614 | 385 | 822 |
| Net cash provided by financing activities | 6,341 | 145,165 | 9,262 |
| (Decrease) increase in cash and cash equivalents | (416) | (11,944) | 46,758 |
| Cash and cash equivalents at beginning of year | 50,713 | 62,657 | 15,899 |
| Cash and cash equivalents at end of period | $50,297 | $50,713 | $62,657 |
| Supplemental Cash Flow Disclosures | |||
| Interest paid | $43,939 | $38,920 | $24,100 |
| Federal income taxes paid, net of refunds received | 2,100 | 2,196 | 4,000 |
| State income taxes paid, net of refunds received | (94) | 82 | 286 |
| Non-cash transactions: | |||
| Cumulative change in accounting principal | — | — | 857 |
| Trade-date settlements for matured securities | — | — | 500 |
| Right-of-use assets obtained in exchange for new operating lease liabilities | — | 457 | 369 |
The accompanying notes are an integral part of the consolidated financial statement.
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QNB CORP. AND SUBSIDIARY
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.