Welcome back. Let's take a look at the shutdown's impact on small business. The Small Business Administration saying it was prevented from delivering more than $5 billion in loans to about 10,000 small businesses over the record-long shutdown.Joining us now, administrator of the Small Business Administration, Kelly Leler. It's great to have you on. So, what happens to these delayed loans.Do they get paid out now. Well, look, Sarah, we're extremely thrilled to be reopening today at the SBA, but make no mista ...

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Core Points - Quaint Oak Bancorp reported a net loss of $83,000 for Q1 2025, a significant decline from a net income of $873,000 in Q1 2024, reflecting a decrease of 109.5% [1][3] - The decrease in net income was primarily driven by a $2.2 million (18.1%) drop in interest and dividend income, alongside a $419,000 (8.2%) increase in non-interest expenses [3][4][9] - The company's Total Risk-Based Capital Ratio improved to 13.92% as of March 31, 2025, compared to 13.61% a year earlier, indicating a stronger capital position [2] Financial Performance - Interest and dividend income decreased by $2.2 million, primarily due to a reduction in the average balance of loans receivable, which fell by $69.8 million from $658.4 million in Q1 2024 to $588.7 million in Q1 2025 [4] - Interest expense decreased by $930,000 (13.9%), largely due to a $1.3 million (21.0%) reduction in interest on deposits [5][6] - Non-interest income increased by $178,000 (11.3%), driven by a significant rise in gains from the sale of SBA loans [8] Asset Quality and Loan Portfolio - Non-performing loans totaled $5.9 million, or 1.13% of total loans receivable, showing an increase from $5.7 million (1.07%) at the end of Q4 2024 [19] - The Texas Ratio improved to 9.22% from 11.96% a year earlier, indicating better asset quality [2][29] - The provision for credit losses decreased by $695,000 (61.2%) compared to Q1 2024, reflecting a decrease in loans receivable [7] Balance Sheet Highlights - Total assets decreased by $34.8 million (5.1%) to $650.4 million as of March 31, 2025, primarily due to declines in cash and cash equivalents and loans held for sale [11] - Total deposits fell by $45.7 million (8.3%) to $507.6 million, mainly due to a $47.8 million decrease in interest-bearing checking accounts [13][14] - Federal Home Loan Bank borrowings increased by $17.1 million (35.8%) to $65.0 million, reflecting the company's funding strategy [15] Capital Structure - Senior debt increased to $9.5 million from none at the end of Q4 2024, following the issuance of Fixed Rate Unsecured Senior Notes [16] - Subordinated debt decreased by $14.0 million (63.6%) to $8.0 million as the company repaid a portion of its outstanding subordinated notes [17] - Total stockholders' equity decreased by $353,000 (0.7%) to $52.3 million, impacted by dividends paid and the net loss for the period [18]