Quaint Oak Bancorp, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2015
January 28, 2016 at 04:15 pm
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Quaint Oak Bancorp Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2015. For the quarter, net income was $378,000 or $0.22 per basic and $0.20 per diluted share compared to $361,000 or $0.21 per basic and $0.20 per diluted share for the same period in 2014. Net interest income was $1.59 million compared to $1.39 million a year ago. Income before income taxes was $549,000 compared to $520,000 a year ago. Net income was $378,000 or $0.20 per diluted share compared to $361,000 or $0.20 per diluted share a year ago. Tangible book value per share, end of period was $10.34 compared to 9.67 a year ago.
For the full year, net income was $1.3 million or $0.74 per basic and $0.68 per diluted share compared to $1.2 million or $0.73 per basic and $0.69 per diluted share for the same period in 2014. Net interest income was $6.33 million compared to $5.56 million a year ago. Income before income taxes was $1,994,000 compared to $1,936,000 a year ago. Net income was $1,271,000 or $0.68 per diluted share compared to $1,242,000 or $0.69 per diluted share a year ago. Tangible book value per share, end of period was $10.34 compared to 9.67 a year ago.
Quaint Oak Bancorp, Inc. is the holding company for Quaint Oak Bank. Quaint Oak Bank's primary business consists of attracting deposits from the general public through a variety of deposit programs and investing such deposits principally in commercial real estate loans, commercial business loans, one-to-four family residential non-owner occupied loans, multi-family residential loans, construction loans, one-to-four family residential owner occupied loans, and home equity loans. Quaint Oak Bank originates loans to businesses for working capital, purchase of a business, tenant improvements, receivables, purchase of inventory and various others. In addition, Quaint Oak Bank offers mortgage banking, multi-state specialty commercial real estate financing and equipment financing, real estate sales, title abstract and insurance services through its subsidiary companies. Quaint Oak Bank serves its customers through its offices as well as through correspondence, telephone and on-line banking.