Core Insights - LPL Financial Holdings Inc. reported a total advisory and brokerage assets of $2.43 trillion at the end of February 2026, reflecting an increase of $22.3 billion or 0.9% from January 2026 [1][3] - Advisory assets as a percentage of total assets rose to 59.3%, up from 54.6% a year earlier [1] Advisory and Brokerage Assets - Advisory assets reached $1,441.6 billion, a month-over-month increase of 1.3% from January 2026 and a year-over-year increase of 44.9% from February 2025 [3] - Brokerage assets totaled $989.3 billion, showing a 0.4% increase month-over-month and a 19.5% increase year-over-year [3] - Total advisory and brokerage assets increased by 33.3% year-over-year from $1,823.1 billion in February 2025 [3] Organic and Acquired Net New Assets - Total organic net new assets for February were $9.1 billion, translating to a 4.5% annualized growth rate [2] - Organic net new advisory assets were $10.0 billion, while organic net new brokerage assets were negative at $(0.9) billion [3] - Total acquired net new assets remained at $0.0 billion for February 2026 [3] Client Cash Balances - Total client cash balances decreased to $55.9 billion, down by $0.6 billion from January 2026 [2][3] - Insured cash account sweep balances were $37.8 billion, a decrease of 1.0% month-over-month [3] - Total client cash sweep held by third parties was $54.2 billion, down 0.7% from January 2026 [3] Market Drivers - The S&P 500 Index closed at 6,879, a decrease of 0.9% from January 2026, but up 15.5% year-over-year [3] - The Russell 2000 Index increased by 0.7% month-over-month and 21.7% year-over-year [3] - The average Fed Funds daily effective rate remained stable at 364 basis points, down 15.9% from the previous year [3]

Core Insights - QNB Corp. will present live at the Banking Virtual Investor Conference on March 26, 2026, at 2:00 pm EDT [1] - The event will allow real-time interaction between investors and the company, with archived webcasts available for those unable to attend live [2] - QNB Corp. is the parent company of QNB Bank, which operates twelve branches in Pennsylvania and offers various banking services [5] Recent Company Highlights - QNB Corp. reported a record level of Net Interest Income, increasing by 19.5% for the full year [9] - Net Income After Tax (GAAP) rose by 23.1% for the full year, with a 32.8% increase when excluding merger-related costs (Non-GAAP) [9] - Fully-Diluted Earnings Per Share (GAAP) increased by 21.2% for the full year, with a 30.8% increase when excluding merger-related costs (Non-GAAP) [9] - QNB Corp. and The Victory Bancorp, Inc. have received regulatory and shareholder approvals for their merger [9]

Merger Announcement - QNB Corp. and The Victory Bancorp have received all necessary regulatory approvals to complete their merger transaction, initially announced on September 23, 2025, with an expected closing during the second quarter of 2026, pending customary closing conditions [1] Company Overview: QNB Corp. - QNB Corp. is the holding company for QNB Bank, headquartered in Quakertown, Pennsylvania, operating twelve branches in Bucks, Lehigh, and Montgomery Counties, providing commercial and retail banking services [2] - The company also offers securities and advisory services through QNB Financial Services and title insurance as a member of Laurel Abstract Company LLC [2] Company Overview: The Victory Bancorp, Inc. - The Victory Bancorp, Inc. is the parent company of The Victory Bank, a Pennsylvania state-chartered commercial bank founded in 2008, headquartered in Limerick Township, Montgomery County [3] - Victory Bank provides a full range of banking services, including checking and savings accounts, home equity lines of credit, and personal loans, with a focus on high-quality business lending for small and mid-sized businesses [3]

Core Viewpoint - QNB Corp. reported significant growth in net income for the fourth quarter and the full year of 2025, driven by increased net interest income and a pending merger with Victory Bancorp, which is expected to enhance shareholder value and community impact [1][2][6]. Financial Performance - QNB Corp. reported a net income of $3,981,000 or $1.06 per share for Q4 2025, up from $3,051,000 or $0.83 per share in Q4 2024, representing a 30.4% increase in net income year-over-year [1]. - For the full year 2025, net income reached $14,090,000 or $3.78 per share, compared to $11,448,000 or $3.12 per share in 2024, marking a 22.7% increase [1]. - Adjusted diluted earnings per share, excluding merger-related costs, were $1.22 for Q4 2025 and $4.08 for the full year [1]. Asset and Loan Growth - Total assets as of December 31, 2025, were $1,906,005,000, an increase from $1,870,894,000 in 2024 [5]. - Loans receivable increased by $46,026,000 or 3.8% to $1,262,074,000 [5]. - Total deposits rose by $13,970,000 or 0.9% to $1,642,511,000 [5]. Interest Income and Margin - Net interest income for Q4 2025 was $14,042,000, an increase of $3,067,000 from Q4 2024 [7]. - The net interest margin improved to 2.95% in Q4 2025 from 2.38% in Q4 2024 [7]. - The yield on earning assets increased to 4.98% in Q4 2025, up from 4.78% in Q4 2024 [8]. Non-Interest Income - Total non-interest income for Q4 2025 was $1,874,000, compared to $1,645,000 in Q4 2024, reflecting a 13.9% increase [14]. - For the full year, non-interest income was $6,957,000, a slight increase from $6,913,000 in 2024 [16]. Non-Interest Expense - Total non-interest expense for Q4 2025 was $10,694,000, up from $9,081,000 in Q4 2024, with a notable increase in salaries and benefits [17][19]. - Excluding merger-related costs, non-interest expense increased by 10.9% for Q4 2025 compared to the same period in 2024 [17]. Merger with Victory Bancorp - QNB Corp. announced a definitive agreement to acquire Victory Bancorp in an all-stock transaction, expected to close in Q2 2026, creating a bank holding company with nearly $2.4 billion in assets [2]. - Post-merger, the ownership split is projected to be approximately 77.2% for QNB and 22.8% for Victory [2].

Core Insights - QNB Corp. reported a net income of $3,648,000 for Q3 2025, an increase from $3,338,000 in Q3 2024, with diluted earnings per share rising to $0.98 from $0.91 [1][5] - The company announced a merger agreement with The Victory Bancorp, expected to close in Q4 2025 or Q1 2026, creating a bank holding company with nearly $2.4 billion in assets [2] Financial Performance - For the nine months ended September 30, 2025, net income was $10,109,000, up from $8,397,000 in the same period of 2024, with diluted earnings per share increasing to $2.72 from $2.29 [1][5] - The annualized return on average assets and average shareholders' equity for Q3 2025 was 0.76% and 12.49%, respectively, compared to 0.74% and 13.25% in Q3 2024 [3] Income and Expenses - Net interest income for Q3 2025 was $12,998,000, an increase of $1,871,000 from Q3 2024, with a net interest margin of 2.72% compared to 2.48% in the prior year [7][8] - Total non-interest expense rose to $10,182,000 in Q3 2025 from $8,636,000 in Q3 2024, with a significant portion attributed to merger-related costs [17][19] Asset Quality - QNB recorded a provision for credit losses on loans of $98,000 in Q3 2025, down from $154,000 in Q3 2024, with total non-performing loans increasing to $8,947,000, or 0.72% of loans receivable [11][12] - The allowance for credit losses on loans was $9,255,000, representing 0.74% of loans receivable as of September 30, 2025 [11][12] Deposits and Loans - Total deposits increased by $52,999,000, or 3.3%, to $1,681,540,000 as of September 30, 2025, while loans receivable rose by $30,481,000, or 2.5%, to $1,246,529,000 [6][24] - The yield on earning assets was 4.91% for Q3 2025, up from 4.86% in Q3 2024, indicating improved asset utilization [8][9]

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]