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As of 8:10 PM 08/19/14 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

15 North Third Street

PO Box 9005

Quakertown, PA 18951

United States

Phone: 215-538-5600


QNB Corp. operates as the holding company for QNB Bank that is engaged in the general commercial banking business and provides a range of banking services to its customers. The bank’s principal office is located in Quakertown, Bucks County, Pennsylvania. As of December 31, 2012, the bank also operated eight other full-service community banking offices in Bucks, Montgomery, and Lehigh counties in southeastern Pennsylvania. In February 2013, two additional full-service banking offices were opened. The company’s banking services consist of attracting deposits and using these funds in making commercial loans, residential mortgage loans, consumer loans, and purchasing investment securities. These deposits are in the form of time, demand, and savings accounts. Time deposits include certificates of deposit and individual retirement accounts. The bank’s demand and savings accounts include money market accounts, interest-bearing demand accounts (including a checking account), club accounts, traditional statement savings accounts, and an online savings account. Loans The company’s commercial lending activity is focused on small businesses within the local community. These types of loans involve larger loan balances to a single borrower or group of related borrowers and are susceptible to a risk of loss during a downturn in the business cycle. Commercial loans secured by commercial real estate include commercial purpose loans collateralized at least in part by commercial real estate. Commercial loans secured by residential real estate are commercial purpose loans secured by the business owner’s residence or residential investment properties owned by the borrower and rented to tenants. Commercial loans secured by either commercial real estate or residential real estate are originated primarily within the Eastern Pennsylvania market area at conservative loan-to-value ratios and also include the guarantee of the borrowers. Loans to state and political subdivisions are tax-exempt or taxable loans to municipalities, school districts, and housing and industrial development authorities. Indirect lease financing receivables represent loans to small businesses that are collateralized by equipment. These loans are originated by a third party and purchased by the company based on criteria specified by the company. The company originates fixed rate and adjustable-rate residential real estate loans that are secured by the underlying 1-to-4 family residential properties. The home equity portfolio consists of fixed-rate home equity loans and variable rate home equity lines of credit. The company offers various loans to individuals for personal and household purposes. Commercial and industrial loans are primarily to developers and builders for the construction of residential units or commercial buildings or to businesses for the construction of owner-occupied facilities. This portfolio is diversified among various types of collateral, including 1-4 family residential construction, medical facilities, factories, office buildings, funeral homes, and land for development loans. Retail loans include first lien 1-4 family residential mortgages, home equity loans and lines and consumer loans. Investment Securities As of December 31, 2012, the company’s investment portfolio included U.S. government agency securities; state and municipal securities; mortgage-backed securities; collateralized mortgage obligations; pooled trust preferred securities; corporate debt securities; and equity securities. Supervision and Regulation The company is registered with the Board of Governors of the Federal Reserve System under the Bank Holding Company Act of 1956. Federal statutes that apply to the company and its subsidiary include the Dodd-Frank Wall Street Reform and Consumer Protection Act; the Gramm-Leach-Bliley Act; the Bank Holding Company Act of 1956; the Federal Reserve Act; and the Federal Deposit Insurance Act. Other corporate governance requirements are imposed on the company by federal laws, including the Sarbanes-Oxley Act. The company is under the jurisdiction of the Securities and Exchange Commission, and of state securities commissions for matters relating to the offering and sale of its securities. In addition, the company is subject to the Securities and Exchange Commission’s rules and regulations relating to periodic reporting, proxy solicitation, and insider trading. In addition, the company is subject to the provisions of Section 115 of the Pennsylvania Banking Code of 1965 and the Pennsylvania Business Corporation Law of 1988, as amended. As a Pennsylvania chartered, insured commercial bank, the bank is subject to extensive regulation and examination by the Pennsylvania Department of Banking and Federal Deposit Insurance Corporation, which insures its deposits to the maximum extent permitted by law. The bank is subject to certain restrictions imposed by the Federal Reserve Act on extensions of credit to the company, on investments in the stock or other securities of the company, and on taking such stock or securities as collateral for loans. The bank’s deposits are insured to the applicable limits as determined by the Federal Deposit Insurance Corporation. The bank is a member of the Federal Home Loan Bank of Pittsburgh. The bank’s Community Reinvestment Act rating is ‘Satisfactory’. History QNB Corp. was founded in 1877.


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Valuation QNBC Industry Range
Price/Earnings 10.2x
Price/Sales 2.7x
Price/Book 1.1x
Price/Cash Flow 10.2x
TEV/Sales 1.5x

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