Quaint Oak Bancorp, Inc. announced that it has entered into a Subscription agreement with accredited investors under which the company will issue fixed rate subordinated notes for gross proceeds of $2 million on March 15, 2023. The bonds bear fixed annual rate of 8.5% which is payable semi-annually arrears on March 15 and September 15 of each year beginning from September 15, 2023. The maturity date of the bonds is March 15, 2025.