Quaint Oak Bancorp, Inc. Announces Declaration of First Quarterly Cash Dividend

SOUTHAMPTON, Pa.--(Business Wire)--
Quaint Oak Bancorp, Inc. (OTCBB:QNTO) (the "Company"), the holding
company for Quaint Oak Bank (the "Bank"), announced today that its
Board of Directors at their meeting on April 9, 2008, initiated a
quarterly cash dividend policy and declared its first cash dividend of
$.025 per share on the common stock of the Company payable on May 9,
2008 to the shareholders of record at the close of business on April
23, 2008.

Robert T. Strong, President and Chief Executive Officer, stated
"We are pleased to announce the initiation of a quarterly cash
dividend policy and the declaration of our first cash dividend
following the third quarter since our initial public offering."

Quaint Oak Bancorp, Inc. is a community-based, savings and loan
holding company providing consumer and commercial banking services
through its wholly-owned subsidiary, Quaint Oak Bank, headquartered in
Southampton, Pennsylvania. Quaint Oak Bank has served individuals and
businesses in the Bucks County area for more than 80 years. Quaint Oak
Bancorp's website is www.quaintoak.com.

Statements contained in this news release which are not historical
facts may be forward-looking statements as that term is defined in the
Private Securities Litigation Reform Act of 1995. Such forward-looking
statements are subject to risks and uncertainties which could cause
actual results to differ materially from those currently anticipated
due to a number of factors. Factors which could result in material
variations include, but are not limited to, changes in interest rates
which could affect net interest margin and net interest income,
competitive factors which could affect net interest income and
noninterest income, changes in demand for loans, deposits and other
financial services in Quaint Oak Bancorp's market area; changes in
asset quality, general economic conditions as well as other factors
discussed in documents filed by Quaint Oak Bancorp with the Securities
and Exchange Commission from time to time. Quaint Oak Bancorp
undertakes no obligation to update these forward-looking statements to
reflect events or circumstances that occur after the date on which
such statements were made.

Quaint Oak Bancorp, Inc.
Robert T. Strong, President and Chief Executive Officer
215-364-4059

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