qnb corp (QNBC) Key Developments
QNB Corp. and QNB Bank Appoint Janice McCracken Erkes as Chief Financial Officer
Sep 8 14
Effective September 8, 2014, QNB Corp. and QNB Bank appointed Janice McCracken Erkes as Chief Financial Officer of the Company and the Bank. Ms. McCracken Erkes, age 49, previously served as Chief Financial Officer of Noah Bank since May 2014 and Chief Accounting Officer of Noah Bank from December 2010 to April 2014. Prior thereto, Ms. McCracken Erkes served as EVP and CFO, Bank of National Penn Bank from February 2010 through September 2010.
QNB Corp. Declares Quarterly Cash Dividend, Payable on September 26, 2014
Aug 26 14
The Board of Directors of QNB Corp. at a regular meeting on August 26, 2014 declared a quarterly cash dividend of $0.28 per share. The cash dividend is payable on September 26, 2014 to shareholders of record September 12, 2014.
QNB Corp., Board Meeting, Aug 26, 2014
Aug 26 14
QNB Corp., Board Meeting, Aug 26, 2014. Agenda: To declare quarterly cash dividend.
QNB Corp. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014
Jul 25 14
QNB Corp. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported net income of $2,172,000, or $0.66 per basic and diluted share compared to net income of $1,894,000, or $0.58 per basic and diluted share a year ago. Net interest income totaled $6,497,000 against $6,336,000 a year ago. Income before income taxes was $2,808,000 compared to $2,384,000 for the same period a year ago. Return on average assets was 0.95% compared to 0.83% a year ago. Return on average shareholders' equity was 10.66% compared to 9.99% a year ago. The quarterly comparison reflects an increase in net interest income and the net interest margin resulting from a 7.9% increase in average loans outstanding and no required provision for loan losses.
For the six months, the company reported net income of $4,468,000, or $1.36 per basic and diluted share compared to net income of $4,302,000, or $1.32 per diluted a year ago. Net interest income totaled $12,890,000 against $12,669,000 a year ago. Income before income taxes was $5,801,000 compared to $5,525,000 for the same period a year ago. Book value per share was $25.09 compared to $22.82 a year ago. Return on average assets was 0.98% compared to 0.96% a year ago. Return on average shareholders' equity was 11.12% compared to 11.52% a year ago.
QNB Corp. Announces Executive Changes
Jul 10 14
On July 7, 2014, Bret H. Krevolin, Chief Financial Officer of QNB Corp. announced that he is resigning from such position, effective July 18, 2014 to pursue other opportunities outside of the Bank's market area. Phillip Geiger will serve as the Interim Chief Financial Officer. Since July 2007, Mr. Geiger has served as the Bank's Vice President and Controller. Before joining the Bank, Mr. Geiger worked for a Beard Miller Company LLP.