Quaint Oak (QNTO) Q1 2026 earnings summary

Executive summary

• Net income for Q1 2026 was $166,000 ($0.06 per share), reversing a net loss of $83,000 in Q1 2025, driven by lower interest expense, reduced provision for credit losses, higher non-interest income, and improved operating trends.

• Total assets decreased 4.8% to $643.2 million at March 31, 2026, primarily due to declines in loans receivable, loans held for sale, and cash and cash equivalents.

• The company operates two segments: Banking and Oakmont Commercial, with the latter focused on originating and selling commercial real estate loans.

• Regulatory consent order was lifted during the quarter after successful remediation, with related professional fees not expected to recur at comparable levels.

• Focus remains on disciplined balance sheet management, sustainable earnings growth, and operating efficiency.

Financial highlights

• Net interest income rose 13.2% year-over-year to $4.7 million, as interest expense fell 10% and interest income was nearly flat.

• Provision for credit losses decreased 78.2% to $96,000, reflecting lower charge-offs and reduced commercial business loan balances.

• Non-interest income increased 3% to $1.8 million, mainly due to a 166% rise in gain on sale of SBA loans and higher loan servicing income.

• Non-interest expense increased 10.5% to $6.1 million, led by higher salaries, professional fees, and SaaS expenses.

• Total deposits declined 5.3% to $565.4 million, with notable decreases in interest-bearing and non-interest-bearing checking accounts.

Outlook and guidance

• Management expects improved profitability and continued focus on capital and liquidity strength, with non-recurring remediation expenses not anticipated to recur.

• No material changes in risk factors or forward-looking statements since the last annual report.