QNB Corp. Finalizes Victory Bancorp Acquisition, Appoints New Directors

summarizeSummary

QNB Corp. officially completed its acquisition of Victory Bancorp, Inc., integrating Victory Bank as a division and appointing two former Victory Bancorp leaders to its board, including a new Vice Chairman.

check_boxKey Events

• Acquisition Completed

  QNB Corp. officially completed its acquisition of Victory Bancorp, Inc. on April 1, 2026, with Victory Bank operating as a division of QNB Bank until full systems integration in June.

• New Board Appointments

  Joseph W. Major (former Victory Bancorp CEO) and Kevin L. Johnson were appointed to QNB's Board of Directors. Mr. Major will serve as Vice Chairman.

• Consulting Agreement for Former CEO

  Joseph W. Major entered into a 24-month consulting and non-competition agreement with QNB Corp. for $665,865.

• Bylaw Amendments

  The company's bylaws were amended to establish the role of Vice Chairman of the Board.

auto_awesomeAnalysis

This 8-K officially confirms the completion of QNB Corp.'s acquisition of Victory Bancorp, Inc., an event previously anticipated and reported by news. The filing provides critical details regarding the integration, including the appointment of Joseph W. Major (former Victory Bancorp CEO) and Kevin L. Johnson to QNB's Board of Directors. Mr. Major will also serve as Vice Chairman and entered into a significant consulting and non-competition agreement valued at $665,865 over 24 months, ensuring a smooth transition and retention of key expertise. The merger strengthens QNB's franchise and expands its market presence, with Victory Bank operating as a division until full systems integration in June 2026. Investors should monitor the integration process and the financial impact of the combined entity.