QNTO - Quaint Oak Bancorp: Mortgage Business Masks Bank Underperformance
Quaint Oak Bancorp (QNTO) is the holding company for Quaint Oak Bank, a two-branch community bank serving the region north northwest of Philadelphia, Pennsylvania. In addition to the company’s traditional banking operations, the bank’s subsidiaries offer insurance, mortgage, real estate brokerage, and title abstract services which generate noninterest income. The nonbank operations account for an additional two offices, an insurance office and a mortgage office, which are not bank branches.
Quaint Oak Bancorp came to our attention as a result of research associated with a small community bank serving an adjacent region.