Quaint Oak Bancorp in Southampton, Pa., is selling stock to another Puerto Rican investor.
The $754 million-asset company disclosed in a regulatory filing that it sold about 85,000 shares of common stock to Fintech Holdings, or roughly 3.4% of its outstanding shares, for $1 million.
Fintech Holdings has an option to buy another 39,000 shares between now and mid-June, which would boost its stake to about 4.9%.
Quaint Oak in November sold a 4.9% stake in itself to ItalBank International in Puerto Rico for about $1.6 million.