Dividend payable on September 26, 2025Quakertown, PA, Aug. 26, 2025 (GLOBE NEWSWIRE) -- The Board of Directors of QNB Corp. (OTCQX: QNBC), parent company of QNB Bank, at a regular meeting on August 26, declared a quarterly cash dividend of $0.38 per share. The cash dividend is payable on September 26, 2025, to shareholders of record September 12, 2025. QNB Corp. offers commercial and retail banking services through the twelve banking offices of its subsidiary, QNB Bank. QNB Corp.’s stock is traded in the ov ...

Core Insights - Bank of the James Financial Group, Inc. reported strong financial performance for the second quarter and first half of 2025, with net income increasing to $2.70 million or $0.60 per share, compared to $2.15 million or $0.47 per share in the same period of 2024 [2][3][10] - The company demonstrated growth in commercial lending, mortgage originations, and core deposits, establishing a solid base for continued positive financial performance [3][6] - The net interest margin improved to 3.45% in the second quarter of 2025, the highest in several quarters, reflecting effective management of loan yields and interest expenses [4][15] Financial Performance - Net interest income for the second quarter of 2025 was $8.25 million, up 16% from $7.09 million in the second quarter of 2024, while total interest income rose to $11.64 million, a 6% increase year-over-year [10][11][35] - Total interest expense decreased by 12% to $3.39 million in the second quarter of 2025, contributing to a net interest income after recovery of credit losses of $8.78 million, up 22% from the previous year [13][35] - Noninterest income remained stable at $4.08 million in the second quarter of 2025, with contributions from commercial treasury services and wealth management fees [16][35] Asset Quality and Growth - Loans, net of allowance for credit losses, increased to $649.09 million at June 30, 2025, from $636.55 million at December 31, 2024, driven by growth in commercial real estate loans [10][18][19] - The ratio of nonperforming loans to total loans was 0.28% at June 30, 2025, indicating strong asset quality, with no other real estate owned [22][23] - Total assets reached $1.004 billion at June 30, 2025, up from $979.24 million at December 31, 2024, reflecting increases in securities and loan growth [18][36] Shareholder Value - Stockholders' equity grew to $71.67 million at June 30, 2025, from $64.87 million at December 31, 2024, with a book value per share of $15.77, up from $14.28 [25][36] - The company declared a quarterly dividend of $0.10 per common share, payable on September 26, 2025, to stockholders of record as of September 12, 2025 [10][35] Strategic Initiatives - The company successfully retired approximately $10 million in capital notes, expected to reduce annual interest expenses by approximately $327,000, enhancing financial stability [7][8] - A balanced revenue stream from various sources, including commercial and retail banking, has provided predictable earnings amid economic challenges [6][10]

Core Viewpoint QNB Corp. reported significant growth in net income for the second quarter of 2025, driven by improved operating performance, particularly in net interest income, despite some challenges in non-interest income and expenses. Financial Performance - QNB Corp. reported net income of $3,883,000 or $1.04 per share for Q2 2025, up from $2,465,000 or $0.67 per share in Q2 2024, marking a 57.5% increase in net income year-over-year [1] - For the first half of 2025, net income was $6,461,000 or $1.74 per share, compared to $5,059,000 or $1.38 per share in the same period of 2024, reflecting a 27.7% increase [1] Operating Metrics - The annualized return on average assets and average shareholders' equity for Q2 2025 was 0.83% and 14.25%, respectively, compared to 0.57% and 10.73% in Q2 2024 [2] - Net interest income for Q2 2025 totaled $12,652,000, an increase of $2,060,000 from Q2 2024, with a net interest margin of 2.69% compared to 2.46% in the prior year [6] Asset Quality - QNB recorded a reversal of $145,000 in the provision for credit losses on loans in Q2 2025, compared to a provision of $132,000 in Q2 2024 [10] - Total non-performing loans increased to $8,947,000 or 0.73% of loans receivable as of June 30, 2025, up from $1,975,000 or 0.16% at the end of 2024 [11] Non-Interest Income and Expenses - Total non-interest income for Q2 2025 was $1,652,000, up from $1,465,000 in Q2 2024, with a notable increase in fees for service to customers [12][13] - Total non-interest expense rose to $9,562,000 in Q2 2025 from $8,934,000 in Q2 2024, driven by increases in salaries and benefits, occupancy, and other operational costs [16][17] Balance Sheet Highlights - Total assets as of June 30, 2025, were $1,884,828,000, an increase from $1,870,894,000 at the end of 2024 [4] - Total deposits increased by $23,126,000 or 1.4% to $1,651,667,000, while loans receivable rose by $2,491,000 to $1,218,539,000 [4] Management Commentary - The CEO noted that the bank's operating performance continued to improve, primarily due to an expanding net interest margin, and expressed cautious optimism for the second half of the year amid ongoing economic uncertainty [5]

Core Insights - First Commonwealth Bank has successfully completed the systems conversion and rebranding of the former CenterBank in Cincinnati, Ohio, enhancing its market presence [1][2] Company Overview - First Commonwealth Financial Corporation, the parent company of First Commonwealth Bank, is headquartered in Indiana, Pennsylvania, and operates 127 branches across Pennsylvania and Ohio [5] - The bank offers a comprehensive range of services including commercial and retail banking, mortgage, wealth management, insurance solutions, equipment financing, and SBA lending [5] Acquisition Details - The legal closing of the CenterBank acquisition occurred on April 30, 2025, involving total assets of $348.4 million, three branch locations, a loan production office, and a mortgage center [2] - This acquisition significantly boosts First Commonwealth's Cincinnati franchise, adding a customer base that is 65% business-oriented [2] Integration and Management - As part of the integration process, two Milford branch offices will consolidate into one location at 744 State Route 28, Milford, Ohio [2] - Twenty-five former CenterBank employees have transitioned to roles within First Commonwealth [2] - T. Michael Price, President and CEO, expressed enthusiasm about the alignment of CenterBank's customer-focused model with First Commonwealth's culture and growth plans in Cincinnati [3] Customer Engagement - Customers with inquiries can reach out to First Commonwealth's Engagement Center or visit their local community office for assistance [4]

Group 1 - QNB Corp. declared a quarterly cash dividend of $0.38 per share, payable on June 27, 2025 [1] - The record date for shareholders to receive the dividend is June 13, 2025 [1] Group 2 - QNB Corp. operates through its subsidiary, QNB Bank, which has twelve banking offices [2] - QNB Corp.'s stock is traded in the over-the-counter market under the symbol "QNBC" [2]

Financial Performance - The company reported net income of $19.1 million, or $0.21 per share, for Q1 2025, an increase from $17.5 million, or $0.20 per share, in Q4 2024, and $14.7 million, or $0.16 per share, in Q1 2024 [2][29] - Operating earnings after tax were $20.0 million, or $0.22 per share, for Q1 2025, compared to $20.7 million, or $0.23 per share, in Q4 2024, and $14.7 million, or $0.16 per share, in Q1 2024 [2][29] - The company declared a quarterly dividend of $0.135 per share [20][29] Balance Sheet Highlights - Total assets decreased to $11.5 billion as of March 31, 2025, down from $11.9 billion at December 31, 2024, primarily due to reductions in cash and cash equivalents and loans [3][29] - Total loans and leases were $9.6 billion, a decrease of $136.6 million from December 31, 2024, and a decrease of $12.4 million from March 31, 2024 [4][29] - Total deposits increased to $8.9 billion, up $9.8 million from December 31, 2024, and up $192.8 million from March 31, 2024 [6][29] Income and Expense Analysis - Net interest income rose to $85.8 million in Q1 2025, an increase from $85.0 million in Q4 2024, with a net interest margin of 3.22%, up from 3.12% [9][29] - Total non-interest income decreased to $5.7 million in Q1 2025 from $6.6 million in Q4 2024, primarily due to a decline in loan level derivative income [11][29] - Non-interest expense decreased to $60.0 million in Q1 2025 from $63.7 million in Q4 2024, driven by lower merger and acquisition expenses [16][29] Credit Quality and Provisions - The company recorded a provision for credit losses of $6.0 million in Q1 2025, up from $4.1 million in Q4 2024, largely due to deterioration in a single commercial credit [12][29] - Total net charge-offs were $7.6 million in Q1 2025, compared to $7.3 million in Q4 2024, with a charge-off of $7.1 million in commercial loans [13][29] - The allowance for loan and lease losses was 1.29% of total loans and leases as of March 31, 2025, slightly up from 1.28% at December 31, 2024 [14][29] Asset Quality - The ratio of nonperforming loans and leases to total loans and leases was 0.65% as of March 31, 2025, down from 0.71% at December 31, 2024 [15][29] - Total nonperforming assets decreased to $64.0 million, or 0.56% of total assets, down from $70.5 million, or 0.59% of total assets, at December 31, 2024 [15][29] Capital Ratios - The ratio of stockholders' equity to total assets was 10.77% as of March 31, 2025, compared to 10.26% at December 31, 2024 [8][29] - Tangible book value per common share increased to $11.03 as of March 31, 2025, up from $10.81 at December 31, 2024 [8][29]

Core Viewpoint - The Bank of Glen Burnie is expanding its lending team to enhance its commercial banking and lending portfolios, with key promotions and new appointments aimed at driving growth and profitability [1][2][5]. Group 1: Leadership Changes - Jonathan Shearin has been promoted to chief lending officer, effective March 13, 2025, after demonstrating significant impact on the loan portfolio since joining the bank in 2024 [1][2]. - Jeff Welch has been appointed as executive vice president and chief credit officer, effective March 31, 2025, bringing over 40 years of experience in risk management and lending [1][3][5]. Group 2: Strategic Focus - Shearin's role will focus on driving sales and revenue, developing the bank's lending strategy, and overseeing loan production and growth objectives [2][5]. - Welch will manage credit risk, evaluate loan applications, and ensure regulatory compliance related to credit risk [2][3]. Group 3: Company Background - Glen Burnie Bancorp is a bank holding company founded in 1949, operating The Bank of Glen Burnie, which has seven branches in Anne Arundel County, Maryland [6][7]. - The bank engages in commercial and retail banking, including various loan origination services and deposit acceptance [6][7].