Month: January 2024

QUAKERTOWN, Pa., Jan. 23, 2024 (GLOBE NEWSWIRE) — QNB Corp. (the “Company” or “QNB”) (OTC Bulletin Board: QNBC), the parent company of QNB Bank (the “Bank”), reported net income for the fourth quarter of 2023 of $1,134,000, or $0.31 per share on a diluted basis. This compares to net income of $5,447,000, or $1.52 per share on a diluted basis, for the same period in 2022. For the twelve months ended December 31, 2023, QNB reported net income of $9,483,000, or $2.63 per share on a diluted basis. This compares to net income of $15,921,000, or $4.47 per share on a diluted basis, reported for the same period in 2022. For the quarter ended December 31, 2023, the annualized rate of return on average assets and average shareholders’ equity was 0.26% and 2.83%, respectively, compared with 1.24% and 14.38%, respectively, for the fourth quarter...

JONESTOWN, Pa., Jan. 23, 2024 (GLOBE NEWSWIRE) — JBT Bancorp, Inc. (OTCQX: JBTC) reported quarterly earnings of $2,073,000 with earnings per share of $0.85. Earnings were down 6.92% compared to the final quarter of 2022. Full-year unaudited earnings were $7,793,000 with earnings per share of $3.20. Earnings fell 3.31% from $8,060,000 and earnings per share were down from $3.31 in the prior year. President & CEO, Troy A. Peters, commented, “The year provided a challenging operating environment industry-wide but our core business remained strong. Despite the FOMC’s substantial increases to short-term rates and the resulting constriction of funding sources, we held our margin and increased net interest income by 5.20%. Inflationary pressures and process-improvement initiatives negatively impacted our operating expenses while...