Quaint Oak Bancorp, Inc. announced that it expects to receive $4.99941 million in funding from FNCB Bancorp, Inc.
December 11, 2022
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Quaint Oak Bancorp, Inc. announced that it entered into a stock purchase agreement to sell up to 222,196 shares of common stock, at a purchase price of $22.50 per share for gross proceeds of $4,999,410 on December 12, 2022. The transaction will include participation from FNCB Bancorp, Inc.
On the same day the company issued 105,904 shares of common stock at a price of $22.5 per share for gross proceeds of $2,382,840 in its first tranche. The company has received $2,382,840 in funding pursuant to Regulation D from one investors.
Quaint Oak Bancorp, Inc. is the holding company for Quaint Oak Bank. Quaint Oak Bank's primary business consists of attracting deposits from the general public through a variety of deposit programs and investing such deposits principally in commercial real estate loans, commercial business loans, one-to-four family residential non-owner occupied loans, multi-family residential loans, construction loans, one-to-four family residential owner occupied loans, and home equity loans. Quaint Oak Bank originates loans to businesses for working capital, purchase of a business, tenant improvements, receivables, purchase of inventory and various others. In addition, Quaint Oak Bank offers mortgage banking, multi-state specialty commercial real estate financing and equipment financing, real estate sales, title abstract and insurance services through its subsidiary companies. Quaint Oak Bank serves its customers through its offices as well as through correspondence, telephone and on-line banking.
QUAINT OAK BANCORP, INC. 
