Quaint Oak Bancorp, Inc. Announces Establishment of New Services

SOUTHAMPTON, Pa.--(Business Wire)--
Quaint Oak Bancorp, Inc. (the "Company") (OTCBB:QNTO), the holding company for
Quaint Oak Bank, announced today that the Bank will begin offering mortgage
banking, real estate sales and title insurance services in the Lehigh Valley.
These new offerings are made possible by the establishment of three Quaint Oak
Bank subsidiaries. These subsidiaries will be staffed by experienced
professionals from within each business area. In addition, the Bank has received
approval to establish a branch office as part of its retail expansion. Quaint
Oak`s new branch office will be located on Union Boulevard in Allentown,
Pennsylvania, which we expect will begin operations late in the third quarter or
early fourth quarter of this year.

Robert T. Strong, President and Chief Executive Officer, stated, "Building upon
our 80 year history in the Delaware Valley, we are expanding our services to the
Lehigh Valley. These new ventures present an exciting opportunity to offer a
wider array of products and services, as well as a new location to accommodate
our customer`s needs." Mr. Strong continued, "We are excited by the
opportunities that lie ahead and look forward to this new offering of location
and services to our existing customers along with an invitation to new customers
to join the Quaint Oak Experience."

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 margins 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
the Company's market area; changes in asset quality, general economic conditions
as well as other factors discussed in documents filed by the Company with the
Securities and Exchange Commission from time to time. The Company 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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