QNB Corp. Files Pro Forma Financials for Victory Bancorp Acquisition, Revealing Q1 Pro Forma Loss
QNBC sits 41% above its 52-week low of $30.95 on elevated volume (3.3× avg).
Summary
QNB Corp. filed an amended 8-K to include the audited financial statements of acquired Victory Bancorp and pro forma combined financials, revealing a pro forma net loss for the combined entity in Q1 2026.
Key Events · M&A and Partnerships · QNBC
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Pro Forma Financials Filed
QNB Corp. filed an amended 8-K to include the audited consolidated financial statements of The Victory Bancorp, Inc. and unaudited pro forma combined financial information following their merger.
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Acquisition Context
This filing finalizes the financial reporting for the acquisition of Victory Bancorp, Inc., which was completed on April 1, 2026, as previously disclosed in an 8-K filed on April 7, 2026.
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Q1 Pro Forma Net Loss
The unaudited pro forma combined income statement shows a net loss of $2.145 million for the three months ended March 31, 2026, for the combined entity, despite QNB Corp.'s standalone profit of $2.765 million for the same period.
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Goodwill and Intangibles Recorded
The pro forma balance sheet as of March 31, 2026, reflects $11.145 million in goodwill and $7.916 million in other intangible assets (core deposit intangible) resulting from the acquisition.
Analysis · QNBC · Finance
This amended 8-K provides the crucial financial details of the Victory Bancorp acquisition, which was previously announced on April 7, 2026. The inclusion of audited historical financial statements for Victory and unaudited pro forma combined financial statements allows investors to assess the actual financial impact of the merger. Notably, the pro forma income statement for the three months ended March 31, 2026, indicates a net loss for the combined entity, despite QNB Corp. reporting a standalone profit for the same period. This suggests potential short-term earnings dilution or integration costs that warrant close attention.
At the time of this filing, QNBC was trading at $43.50 on OTC in the Finance sector, with a market capitalization of approximately $216M. The 52-week trading range was $30.95 to $46.00. This filing was assessed with negative market sentiment and an importance score of 8 out of 10.