Note 10 - Long-Term Debt

12 Months Ended

Dec. 31, 2024

Debt Disclosure [Abstract]

Long-Term Debt

Note 10 - Long-Term Debt

FHLB advances are collateralized by certain mortgage loans and also require the purchase of FHLB capital stock, which is included within "Restricted investment in stocks" on the Consolidated Balance Sheets. QNB’s FHLB stock was $3,510,000 and $1,718,000 at December 31, 2024 and 2023, respectively.

QNB has a maximum borrowing capacity with the FHLB of approximately $442,339,000. At December 31, 2024 QNB had $30,000,000 in long-term advances outstanding with the FHLB at fixed rates, $35,208,000 in short term borrowings as reported in Note 9 and a letter of credit issued of $283,000. At December 31, 2023 QNB had $20,000,000 in long-term advances outstanding with the FHLB at fixed rates, no short-term borrowings as reported in Note 9 and a letter of credit issued of $283,000.

Long-term advances at the FHLB mature as follows:

As of December 31, 2024	Balance Maturing		Weighted-Average Rate
2025	$	30,000		4.75	%
2026		—		—
2027		—		—
2028		—		—
2029		—		—
Thereafter		—		—
Total long-term debt	$	30,000		4.75	%