Quaint Oak Swings to $635K Q3 Profit as Margin Widens, But Bad Loans Climb
QNTO sits 67% above its 52-week low of $8.84.
Summary
Quaint Oak earned $635,000, or $0.24 a share, in Q3 2026, reversing a $41,000 loss a year earlier and building on the Q2 turnaround reported in July. The driver is funding cost: FHLB borrowings are fully repaid and deposit rates fell, pushing the net interest margin to 3.17% from 2.77% and the efficiency ratio to 87.14% from 93.26%. Non-interest income jumped 40.5% to $2.6 million on SBA loan sales and servicing, while the credit-loss provision dropped to $44,000 from $425,000. The offset is asset quality: non-performing loans rose to $11.4 million, or 2.27% of loans, from $7.3 million at year-end 2025, and the allowance now covers just 50.17% of them versus 102.58% a year ago. Management says the loans are well-collateralized or adequately reserved and is adding staff to work them out. Book value per share rose to $20.19 from $19.79, a modest discount to the $14.75 share price is not the case — shares trade below book.
At the time of this announcement, QNTO was trading at $14.75 on OTC in the Finance sector, with a market capitalization of approximately $39.1M. The 52-week trading range was $8.84 to $17.59. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.