Quaint Oak Bancorp Q1 2026 Earnings Report: $166,000 Net Income vs Prior Year Loss

Quaint Oak Bancorp reported first quarter 2026 net income of $166,000 ($0.06 per share), a significant improvement from a net loss of $83,000 ($0.03 loss per share) in Q1 2025. The turnaround was driven by a $580,000 decrease in interest expense, a $345,000 reduction in credit loss provisions, and a $53,000 increase in non-interest income. However, non-interest expenses increased by $580,000 due to higher salaries and professional fees. The company's net interest margin improved to 2.90% from 2.63% in the prior year period. CEO Robert Strong noted the results were impacted by one-time professional fees and accounting adjustments, including a write-down of SBA servicing assets. The company also announced the lifting of a previously disclosed regulatory consent order after successful remediation efforts. Total assets decreased to $643.2 million from $675.9 million at year-end 2025, primarily due to lower loan balances and cash positions.