Quaint Oak Bancorp Inc. announced unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2012. Net income for the quarter ended December 31, 2012 was $190,000, or $0.21 per basic and diluted share, compared to $143,000, or $0.16 per basic and diluted share for the same period in 2011. Net interest income was $1,062,000 and income before income taxes was $301,000 against net interest income of $931,000 and income before income taxes of $232,000 a year ago. The increase in net income on a comparative quarterly basis was primarily the result of the increases in net interest income of $131,000 and non-interest income of $304,000, and a decrease in the provision for loan losses of $72,000, which were offset by an increase in non-interest expense of $438,000, and the provision for income taxes of $22,000.

Net income for the year ended December 31, 2012 was $981,000, or $1.10 per basic and diluted share compared to $528,000, or $0.60 per basic and diluted share for the same period in 2011. Net interest income was $4,116,000 and income before income taxes was $1,573,000 against net interest income of $3,621,000 and income before income taxes of $882,000 a year ago. This increase in net income was primarily the result of the increases in net interest income of $495,000 and non-interest income of $1.2 million, which were offset by increases in the provision for loan losses of $25,000, non-interest expense of $944,000, and the provision for income taxes of $238,000.