QNB Corp (PK:QNBC)
Business Focus: Banks
| Sector: Financials | Industry: Banks |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | 15 N 3rd St QUAKERTOWN PA 18951-1376 |
| Tel: | 1-800-3685948 |
| Website: | https://ir.qnbbank.com/corporate-profile/default.aspx |
| IR: | See website |
| Key People | ||
| David W. Freeman President, Chief Executive Officer, Director | Jeffrey Lehocky Chief Financial Officer, Executive Vice President | Christopher T. Cattie Executive Vice President, Chief Information Technology Officer |
| Christina S. Mcdonald Executive Vice President, Chief Marketing Officer and Chief Retail Lending Officer of the Bank | Courtney L. Covelens Executive Vice President, Chief Retail Officer and Chief Business Banking Officer of the Bank | Scott G. Orzehoski Executive Vice President, Chief Lending Officer of the Bank |
| Business Overview |
| QNB Corp. is the holding company for QNB Bank (the Bank). The Bank is engaged in the general commercial banking business and provides a full range of banking services to its customers. These banking services consist of attracting deposits and using these funds in making commercial loans, residential mortgage loans, consumer loans, purchasing investment securities and others. These deposits are in the form of time, demand and savings accounts. Time deposits include certificates of deposit and individual retirement accounts. The Bank's demand and savings accounts include money market accounts, interest-bearing demand accounts (including a higher yielding checking account), club accounts, traditional statement savings accounts, and a higher yielding online savings account. It provides securities and advisory services under the name of QNB Financial Services through a registered Broker/Dealer and Registered Investment Advisor, and title insurance as a member of Laurel Abstract Company LLC. |
| Financial Overview |
| For the fiscal year ended 31 December 2023, QNB Corp interest income increased 32% to $69.1M. Net interest income after loan loss provision decreased 10% to $41M. Net income decreased 40% to $9.5M. Net interest income after loan loss provision reflects Net Interest Margin, Total - % decrease of 12% to 2.39%, Net Interest Spread, Total - % decrease of 23% to 1.98%. |
| Employees: | 189 as of Feb 15, 2024 |
| Reporting Currency: | U.S. Dollars |
| Enterprise value: | $189.41M as of Dec 31, 2023 |
| Annual revenue (TTM): | $69.08M as of Dec 31, 2023 |
| EBITDA (TTM): | $17.37M as of Dec 31, 2023 |
| Net annual income (TTM): | $9.48M as of Dec 31, 2023 |
| Free cash flow (TTM): | $9.02M as of Dec 31, 2023 |
| Net Debt Last Fiscal Year: | $102.65M as of Dec 31, 2023 |
| Shares outstanding: | 3,654,784 as of Mar 19, 2024 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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