Quarterly ResultApr 28, 2026, 12:26 PM
QNBC Q1 Net Income $2.77M, EPS $0.73; Victory Bancorp Merger Closed
AI Summary
QNB Corp. reported net income of $2.77 million ($0.73 diluted EPS) for the first quarter of 2026, an increase from $2.58 million ($0.69 diluted EPS) in Q1 2025. Excluding after-tax merger-related costs of $754,000, adjusted diluted EPS was $0.93. The company also announced the successful closing of its acquisition of Victory Bancorp, Inc. on April 1, 2026, which expands its market presence and creates a franchise with nearly $2.4 billion in assets. Net interest income improved by $1.57 million to $13.11 million, with the net interest margin rising to 2.82%.
Key Highlights
- Victory Bancorp acquisition closed on April 1, 2026, creating a $2.4 billion asset franchise.
- Q1 2026 Net Income: $2,765,000, up from $2,578,000 in Q1 2025.
- Q1 2026 Diluted EPS: $0.73, up from $0.69 in Q1 2025.
- Q1 2026 Adjusted Diluted EPS (ex-merger costs): $0.93.
- Q1 2026 Net Interest Income: $13,109,000, an increase of $1,572,000 YoY.
- Q1 2026 Net Interest Margin: 2.82%, up 31 basis points YoY.
- Total assets as of March 31, 2026: $1,923,123,000.
- Loans receivable increased $20,699,000 (1.6%) to $1,282,773,000.