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QCR Holdings Inc (NASDAQ: QCRH) is a distinguished multi-bank holding company headquartered in Moline, Illinois. The company serves diverse communities across the Quad Cities, Cedar Rapids, Cedar Valley, Des Moines/Ankeny, and Springfield through its wholly-owned subsidiary banks. These include Quad City Bank & Trust Company, Cedar Rapids Bank & Trust Company, Community State Bank, and Guaranty Bank.
Core Business Segments
- Commercial Banking: Providing full-service commercial and consumer banking through community-based branches.
- Wealth Management: Offering trust and wealth management services to individuals and businesses.
Recent Achievements
- Announced net income of $32.9 million for Q4 2023, a record for the company.
- Completed two significant loan securitizations in low-income housing tax credits (LIHTC), amounting to $265 million.
- Increased tangible book value per share by 35% annualized during Q4 2023.
Financial Performance
- Reported net interest income of $55.7 million for Q4 2023, showing positive growth trends.
- Core deposits grew by 6% in 2023, reflecting strong customer loyalty and market expansion.
- Maintained strong asset quality with nonperforming assets (NPAs) at 0.40% of total assets.
Partnerships and Strategic Initiatives
- Deep-rooted partnerships with local communities to drive economic growth.
- Focus on expanding market share and building lasting relationships with clients.
QCR Holdings is dedicated to its mission of being the premier provider of financial services to businesses and individuals who value relationships, in markets where it can excel. With a strong balance sheet, solid financial performance, and strategic initiatives, QCR Holdings continues to deliver impressive results and add value for its shareholders.
QCR Holdings (NASDAQ: QCRH) reported strong Q2 2024 results with net income of $29.1 million and diluted EPS of $1.72. Key highlights include:
- Net interest income up 3% from Q1, with 11% annualized growth
- Noninterest income increased 15% to $30.9 million
- Strong capital markets revenue of $17.8 million
- Well-controlled expenses at $49.9 million, down 2% from Q1
- Tangible book value per share grew 15% annualized
- Solid loan growth of 9.5% annualized year-to-date
- Excellent asset quality with NPAs to total assets at 0.39%
- Strong capital levels with total risk-based capital ratio at 14.33%
The company maintained its 8-10% loan growth target for 2024 and expects Q3 adjusted NIM TEY to be static to up 5 basis points.
QCR Holdings (NASDAQ: QCRH) announced it will release its second quarter 2024 financial results after the market closes on July 24, 2024.
The Company will host a conference call and webcast on July 25, 2024, at 10:00 a.m. Central Time to discuss the results.
Interested parties can join the call by dialing 888-346-9286 (international 412-317-5253).
The event will be available for replay through August 1, 2024, by calling 877-344-7529 (international 412-317-0088), access code 8771212.
A webcast can also be accessed and will be archived on the Company’s website.
QCR Holdings (QCRH) announced the retirement of John H. Anderson, Chief Deposit Officer and CEO of its subsidiary Quad City Bank and Trust (QCBT). Effective January 3, 2025, Anderson will retire after a 40-year career in the Quad Cities banking industry, including 26 years with QCBT and 17 years as its CEO. Laura 'Divot' Ekizian, current President and Chief Relationship Officer of QCBT, will succeed him as CEO while maintaining her role as President. The transition will be managed smoothly over the next few months, with Anderson working closely with Ekizian. QCRH CEO Larry Helling thanked Anderson for his leadership and contributions.
QCR Holdings announced the re-election of four Class I directors, Mary Kay Bates, John-Paul E. Besong, Todd A. Gipple, and Donna J. Sorenson, at its annual stockholders' meeting. These directors will serve three-year terms. Additionally, the Board of Directors declared a cash dividend of $0.06 per share. The dividend is payable on July 3, 2024, to shareholders of record as of June 14, 2024.
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