Business Description
QNB was incorporated under the laws of the Commonwealth of Pennsylvania on
June 4, 1984. QNB is registered with the Board of Governors of the Federal Reserve
System as a bank holding company under the Bank Holding Company Act of 1956
and conducts its business through its wholly-owned subsidiary, QNB Bank (the
“Bank”).
Prior to December 28, 2007, the Bank was a national banking association organized
in 1877 as The Quakertown National Bank, was chartered under the National Banking
Act and was subject to Federal and state laws applicable to national banks.
Effective December 28, 2007, the Bank became a Pennsylvania chartered commercial
bank and changed its name to QNB Bank. The Bank, whose principal office is located
in Quakertown, Bucks County, Pennsylvania, operated eleven full-service community
banking offices in Bucks, Montgomery and Lehigh counties in southeastern Pennsylvania
as of December 31, 2017.
The Bank is engaged in the general commercial banking business and provides
a full range of banking services to its customers. These banking services consist
of, among other things, attracting deposits and using these funds in making
commercial loans, residential mortgage loans, consumer loans, and purchasing
investment securities. These deposits are in the form of time, demand and savings
accounts. Time deposits include certificates of deposit and individual retirement
accounts. The Bank’s demand and savings accounts include money market
accounts, interest-bearing demand accounts (including a higher yielding checking
account), club accounts, traditional statement savings accounts, and a higher
yielding online savings account.
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