SOUTHAMPTON, Pa., Jan. 11, 2021 (GLOBE NEWSWIRE) -- Quaint Oak Bank, the wholly-owned subsidiary of Quaint Oak Bancorp, Inc. (OTCQB: QNTO), announced its strategic investment in Oakmont Capital Holdings, LLC, a multi-state equipment finance company based in West Chester, Pennsylvania with a second significant facility located in Albany, Minnesota.
Oakmont Capital currently operates out of eight States in order to effectively originate across the Country with a seasoned management team led by Joseph P. Leonard along with Megan J. Zoba and Daryn T. Lecy. The combination of Quaint Oak Bank’s investment in Oakmont Capital coupled with Oakmont’s existing operational capabilities, positions Oakmont to expand into a prominent national presence within the equipment finance market.
Robert T. Strong, President and CEO of Quaint Oak Bank stated, “Quaint Oak is very pleased to now hold a majority equity position in Oakmont Capital Holdings having had a working relationship with Oakmont spanning the last decade. We are very enthused to have the opportunity to join with Oakmont Capital Holdings and its superior management team in its national expansion plan within the equipment finance industry.”
Mr. Strong concluded, “This broadened relationship between Quaint Oak Bank and Oakmont Capital will also support an expansion of the Oakmont business lines within the equipment finance industry.”
Joseph P. Leonard, CEO of Oakmont Capital Holdings added, “We are very excited to enter into this partnership with Quaint Oak Bank. This opportunity will provide Oakmont expanded financial resources to continue our rise in the ranks of national equipment financing companies.”
Quaint Oak Bank
Quaint Oak Bank, a Pennsylvania-chartered stock savings bank is the wholly-owned subsidiary of Quaint Oak Bancorp, Inc., headquartered in Southampton, Pennsylvania. Quaint Oak also owns and operates Quaint Oak Abstract, LLC, Quaint Oak Insurance Agency, LLC, Quaint Oak Mortgage, LLC and Quaint Oak Real Estate LLC. The Bank is a community Bank with locations in Philadelphia, the Delaware Valley and Lehigh Valley, Pennsylvania.
