Note 21 - Parent Company Financial Information

12 Months Ended

Dec. 31, 2024

Condensed Financial Information Disclosure [Abstract]

Parent Company Financial Information

Note 21 - Parent Company Financial Information

Condensed financial statements of QNB Corp. only:

Balance Sheets
December 31,	2024		2023
Assets
Cash and cash equivalents
Balances with subsidiary or affiliated depository institutions	$	1,193	$	—
Balances with unrelated depository institutions		3,414		565
Investment securities:
Available-for-sale (amortized cost $18,004 and $6,448)		18,010		6,451
Equity securities (cost of $0 and $5,695)		—		5,910
Investment in subsidiary		120,576		77,173
Other assets		674		752
Total assets	$	143,867	$	90,851
Liabilities
Subordinated debt	$	39,068	$	—
Other liabilities		1,450		27
Total liabilities		40,518		27
Shareholders' equity		103,349		90,824
Total liabilities and shareholders' equity	$	143,867	$	90,851

Statements of Income
Year ended December 31,	2024			2023			2022
Dividends from subsidiary	$	7,023		$	4,407		$	4,329
Interest, dividend and other income		733			517			358
Securities gains (losses)		517			(19	)		405
Net unrealized (loss) gain on investment equity securities		(215	)		250			(1,026	)
Total income		8,058			5,155			4,066
Expenses		1,923			661			496
Income before applicable income taxes and equity in    undistributed income of subsidiary		6,135			4,494			3,570
Provision for income tax (benefit) expense		(99	)		(1	)		(235	)
Income before equity in undistributed income of subsidiary		6,234			4,495			3,805
Equity in undistributed income of subsidiary		5,214			4,988			12,116
Net income	$	11,448		$	9,483		$	15,921

Statements of Comprehensive Income (Loss)
Year ended December 31,	2024						2023						2022
	Before tax amount		Tax expense (benefit)		Net of tax amount		Before tax amount		Tax expense (benefit)		Net of tax amount		Before tax amount			Tax expense (benefit)			Net of tax amount
Net income	$	14,359	$	2,911	$	11,448	$	11,727	$	2,244	$	9,483	$	19,586		$	3,665		$	15,921
Other comprehensive income/(loss):
Net unrealized holding gain/(loss) on available-for-sale securities:
Unrealized holding (loss)/gain arising during the period		5,068		643		4,425		14,638		3,074		11,564		(98,097	)		(20,600	)		(77,497	)
Reclassification adjustment for loss included in net income		1,096		230		866		2,058		432		1,626		139			29			110
Other comprehensive income/(loss):		6,164		873		5,291		16,696		3,506		13,190		(97,958	)		(20,571	)		(77,387	)
Total comprehensive income (loss)	$	20,523	$	3,784	$	16,739	$	28,423	$	5,750	$	22,673	$	(78,372	)	$	(16,906	)	$	(61,466	)

Statements of Cash Flows
Year ended December 31,	2024			2023			2022
Operating Activities
Net income	$	11,448		$	9,483		$	15,921
Adjustments to reconcile net income to net cash provided    by operating activities:
Equity in undistributed income from subsidiary		(5,214	)		(4,988	)		(12,116	)
Net securities gains (losses)		(517	)		19			(405	)
Net unrealized loss (gain) on investment equity securities		215			(250	)		1,026
Stock-based compensation expense		199			185			85
Accretion of discounts on investment securities		(349	)		(174	)		(6	)
Amortization of deferred costs on subordinated debt		56			—			—
Increase (decrease) in other liabilities		210			(36	)		(266	)
Decrease (increase) in other assets		77			(122	)		(121	)
Deferred income tax (benefit) provision		226			42			(285	)
Net cash provided by operating activities		6,351			4,159			3,833
Investing activities
Purchase of investment equity securities		(1,170	)		(2,179	)		(1,860	)
Purchase of investment securities available-for-sale		(35,783	)		(14,275	)		(1,193	)
Proceeds from sale of investment equity securities		7,382			8,556			1,594
Proceeds from maturities of investment securities available-for-sale		24,575			7,800			900
Capital contribution to Bank		(32,900	)		—			—
Net cash (used) provided by investing activities		(37,896	)		(98	)		(559	)
Financing activities
Issuance of subordinated debt		40,000			—			—
Cash dividend paid		(4,798	)		(4,671	)		(4,498	)
Treasury stock purchase		—			—			(75	)
Proceeds from issuance of common stock		385			822			418
Net cash provided by (used) by financing activities		35,587			(3,849	)		(4,155	)
Increase (decrease) in cash and cash equivalents		4,042			212			(881	)
Cash and cash equivalents at beginning of year		565			353			1,234
Cash and cash equivalents at end of year	$	4,607		$	565		$	353