Note 18 - Parent Company Financial Information

12 Months Ended

Dec. 31, 2014

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed Financial Information of Parent Company Only Disclosure [Text Block]

Note 18 – Parent Company Financial Information

Condensed financial statements of QNB Corp. only:

Balance Sheets
December 31,	2014		2013
Assets
Cash and cash equivalents	$	48	$	24
Investment securities available-for-sale		7,655		6,625
Investment in subsidiary		79,112		69,215
Other assets		3		15
Total assets	$	86,818	$	75,879
Liabilities
Other liabilities	$	464	$	254
Shareholders' equity	$	86,354	$	75,625
Total liabilities and shareholders' equity	$	86,818	$	75,879

Statements of Income
Year ended December 31,	2014		2013
Dividends from subsidiary	$	2,925	$	3,512
Interest, dividend and other income		142		99
Securities gains		1,045		629
Total income		4,112		4,240
Expenses		313		285
Income before applicable income taxes and equity in undistributed income of subsidiary		3,799		3,955
Provision for income taxes		292		151
Income before equity in undistributed income of subsidiary		3,507		3,804
Equity in undistributed income of subsidiary		5,491		4,588
Net income	$	8,998	$	8,392

Statements of Comprehensive Income (Loss)
Year ended December 31,	2014									2013
	Before tax amount			Tax expense (benefit)			Net of tax amount			Before tax amount			Tax expense (benefit)			Net of tax amount
Net income	$	11,642		$	2,644		$	8,998		$	10,738		$	2,346		$	8,392
Other comprehensive income:
Net unrealized holding gains (losses) on securities:
Unrealized holding gains (losses) arising during the period		7,657			2,604			5,053			(11,098	)		(3,774	)		(7,324	)
Reclassification adjustment for gains included in net income		(1,112	)		(378	)		(734	)		(824	)		(280	)		(544	)
Other comprehensive income (loss)		6,545			2,226			4,319			(11,922	)		(4,054	)		(7,868	)
Total comprehensive income (loss)	$	18,187		$	4,870		$	13,317		$	(1,184	)	$	(1,708	)	$	524

Statements of Cash Flows
Year ended December 31,	2014			2013
Operating Activities
Net income	$	8,998		$	8,392
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in undistributed income from subsidiary		(5,491	)		(4,588	)
Net securities gains		(1,045	)		(629	)
Stock-based compensation expense		83			71
Increase in other liabilities		225			-
Decrease in other assets		12			443
Deferred income tax provision		29			-
Net cash provided by operating activities		2,811			3,689
Investing activities
Purchase of investment securities		(4,955	)		(3,763	)
Proceeds from sale of investment securities		4,839			2,589
Net cash used by investing activities		(116	)		(1,174	)
Financing activities
Cash dividend paid		(3,328	)		(3,130	)
Proceeds from issuance of common stock		628			535
Tax benefit from exercise of stock options		29			2
Net cash used by financing activities		(2,671	)		(2,593	)
Increase (decrease) in cash and cash equivalents		24			(78	)
Cash and cash equivalents at beginning of year		24			102
Cash and cash equivalents at end of year	$	48		$	24