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With release by the White House and Treasury of initial details
regarding Biden Administration proposed 2021 tax reform, a primary
focus in Washington, D.C., for the next seven months or so will be
expected changes to the tax code. The tax changes will be
substantial and far-reaching, and will include corporate,
individual and capital gains tax rate increases; international tax
changes; and estate and gift tax changes.
Expected Timing of Biden Administration Tax Changes
Congressional committees in the House and Senate are already
working on tax and budget proposals that will become part of the
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Southampton, Pennsylvania, May 03, 2021 (GLOBE NEWSWIRE) Quaint Oak Bancorp, Inc. (the Company ) (OTCQB:QNTO), the holding company for Quaint Oak Bank (the Bank ), announced today that net income for the quarter ended March 31, 2021 was $1.0 million, or $0.52 per basic and $0.50 per diluted share, compared to $432,000, or $0.22 per basic and $0.21 per diluted share for the same period in 2020.
Robert T. Strong, President and Chief Executive Officer stated, It is my pleasure to present our earnings release for the first quarter of 2021. Our net income for the quarter ended March 31, 2021 was 138.4% higher than the comparable quarter one year ago amounting to $1.0 million. The increase primarily resulted from an increase in non-interest income coupled with an increase in net interest income. Asset growth also continued, culminating at March 31, 2021 just over $560.0 million. This growth in assets was supported by an increase in deposits of over $84.9 million funding a g
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