Quaint Oak Bank, a subsidiary of Quaint Oak Bancorp, Inc., received notification on March 30, 2026, that the FDIC and Pennsylvania Bureau of Bank Supervision terminated their May 2025 Consent Orders related to the Bank's Bank Secrecy Act compliance program.
Key takeaways
The FDIC and Pennsylvania Bureau terminated Consent Orders issued on May 15, 2025, against Quaint Oak Bank on March 30, 2026.
The Consent Orders were primarily related to the Bank's Bank Secrecy Act compliance program.
The Bank resolved the Consent Orders within approximately ten months through substantial enhancements to its compliance framework.
The remediation included financial crime management and third-party risk oversight improvements that strengthened the Company's control environment.
The Company's short-term financial performance was adversely affected by the significant resources dedicated to meeting the Consent Order requirements.
With remediation completed, the Company has resumed full focus on executing its strategic initiatives.