Overview

* Quaint Oak reports Q3 net loss of $41,000, down from net income last year

* Company's Q3 net interest margin improved to 2.77%

* Non-interest income rose 44.5% quarter over quarter

Outlook

* Company anticipates new business line to provide lower-cost funding and additional income

* Quaint Oak focuses on long-term growth through strategic investments

* Company remains committed to long-term profitability and shareholder value

Result Drivers

* STRATEGIC INVESTMENTS - Co attributes net loss to investments in new international correspondent banking line, increasing non-interest expenses

* NON-INTEREST INCOME - Non-interest income rose 44.5% quarter over quarter, driven by gains on loan sales and SBA loan sales

* INTEREST INCOME DECLINE - Decrease in interest and dividend income due to lower average balances and yields on interest-earning accounts

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Net -$41,000

Income

Q3 Net $4.39

Interest mln

Income

Q3 $433,000

Credit

Loss

Provisio

n

Q3 Net 2.77%

Interest

Margin

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)