Have you been paying attention to shares of QCR Holdings (QCRH) ? Shares have been on the move with the stock up 26.6% over the past month. The stock hit a new 52-week high of $76.97 in the previous session. QCR Holdings has gained 30.1% since the start of the year compared to the 13.2% move for the Zacks Finance sector and the 18.1% return for the Zacks Banks - Midwest industry. Valuation Metrics In terms of its value breakdown, the stock currently trades at 12.7X current fiscal year EPS estimates, which i ...

QCR Holdings, Inc. (NASDAQ:QCRH) Q2 2024 Earnings Conference Call July 25, 2024 11:00 AM ET Company Participants Larry Helling - CEO Todd Gipple - President and CFO Conference Call Participants Damon DelMonte - KBW Daniel Tamayo - Raymond James Brian Martin - Janney Jeff Rulis - DA Davidson Nathan Race - Piper Sandler Operator Greetings, and welcome to the QCR Holdings Incorporated Earnings Conference Call for the Second Quarter of 2024. Yesterday, after market closed, the company distributed its second qua ...

Core Insights - QCR Holdings reported an earnings surprise of 24.46%, with actual earnings of $1.59 per share compared to an expected $1.32 per share, marking a 20.45% surprise from the previous quarter [1] - The company posted revenues of $87.05 million for the quarter ended June 2024, exceeding the Zacks Consensus Estimate by 5.90% and showing a year-over-year increase from $85.73 million [2] - QCR Holdings shares have increased approximately 23.3% year-to-date, outperforming the S&P 500's gain of 16.5% [3] Earnings Performance - The latest quarterly earnings for QCR Holdings were $1.73 per share, surpassing the Zacks Consensus Estimate of $1.39 per share and showing an increase from $1.69 per share a year ago [9] - The company has consistently exceeded consensus EPS estimates, achieving this for four consecutive quarters [10] Future Outlook - The current consensus EPS estimate for the upcoming quarter is $1.38 on revenues of $85.7 million, while the estimate for the current fiscal year is $5.78 on revenues of $330.65 million [5] - The estimate revisions trend for QCR Holdings is mixed, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market [13] Industry Context - The Banks - Midwest industry, to which QCR Holdings belongs, is currently ranked in the top 42% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [14]

Financial Performance - Net income for Q2 2024 was $29.1 million, or $1.72 per diluted share, compared to $26.7 million and $1.58 per diluted share in Q1 2024, representing a 9% increase in net income[1][2] - Adjusted net income for Q2 2024 was $29.3 million, with adjusted diluted EPS at $1.73, up from $26.9 million and $1.59 in Q1 2024[2][3] - Net income for Q2 2024 was $29,114 thousand, compared to $28,425 thousand in Q2 2023, reflecting a 2.4% increase[36] - Basic EPS for Q2 2024 was $1.73, an increase from $1.70 in Q2 2023, indicating a growth of 1.8%[36] - The company reported a net income of $29.1 million for Q2 2024, reflecting strong financial performance[51] Income and Revenue - Interest income for Q2 2024 reached $119,746 thousand, up from $98,377 thousand in Q2 2023, representing a 21.7% increase year-over-year[36] - Total noninterest income for Q2 2024 was $30,889 thousand, up from $32,520 thousand in Q2 2023, showing a decrease of 5.0%[36] - Capital markets revenue for Q2 2024 was $17,758 thousand, up from $15,596 thousand in Q2 2023, representing a 13.9% increase[36] - Total income for June 2024 reached $87,052 thousand, compared to $81,557 thousand in March 2024, indicating a 6.1% increase[59] Expenses and Efficiency - Noninterest expenses were well-controlled at $49.9 million, down from $50.7 million in Q1 2024, contributing to a 500 basis point improvement in the efficiency ratio to 57%[9][8] - Total noninterest expense for the six months ended June 30, 2024, was $100,578 thousand, compared to $98,512 thousand in the same period last year, reflecting a 2.1% increase[39] - Efficiency ratio (noninterest expense/total income) improved to 57.31% in June 2024 from 62.15% in March 2024, showing enhanced operational efficiency[59] Loans and Leases - Total loans and leases grew by $206.1 million to $6.9 billion, with year-to-date loan growth at 9.5% annualized, within the target range of 8% to 10%[14][15] - Total loans/leases increased to $6,854,386 thousand, up from $6,648,336 thousand, representing a growth of approximately 3.1%[31] - Net loans/leases reached $6,766,680 thousand, compared to $6,563,866 thousand, indicating an increase of about 3.1%[31] - Total commercial and industrial loans reached $1,825,313 thousand, an increase from $1,796,738 thousand, representing a growth of approximately 1.6%[31] - Multi-family loans, including LIHTC, increased to $1,477,483 thousand from $1,303,566 thousand, indicating a significant growth of about 13.3%[31] Asset Quality - The company's nonperforming assets ratio was 0.39%, with total NPAs at $34.5 million, a slight increase from the prior quarter[17][18] - Total nonperforming assets increased to $34.514 million in Q2 2024 from $31.327 million in Q1 2024, indicating a deterioration in asset quality[48] - The ratio of nonperforming assets to total assets was 0.39% in Q2 2024, up from 0.36% in Q1 2024, highlighting increasing asset quality issues[48] - Total criticized loans decreased to $165.441 million in Q2 2024 from $182.570 million in Q1 2024, showing improvement in credit quality[48] Capital and Ratios - The company's total risk-based capital ratio increased to 14.33%, with the common equity tier 1 ratio at 10.00% as of June 30, 2024[23] - Tangible book value per share increased by $1.72, or 15.3% annualized, during Q2 2024, reflecting strong earnings and a modest dividend[24] - Return on average assets (annualized) increased to 1.34% from 1.25% in the previous quarter[41] - Return on average total equity (annualized) rose to 12.72% from 11.83% in the previous quarter[41] Deposits and Borrowings - Total deposits decreased to $6,764,667 thousand from $6,806,775 thousand, reflecting a decline of approximately 0.6%[33] - Total borrowings increased significantly to $768,671 thousand from $489,633 thousand, representing a rise of approximately 56.9%[33] - Noninterest-bearing demand deposits were $956,445 thousand, slightly up from $955,167 thousand, reflecting a growth of about 0.1%[33] Market Presence and Growth - The company has expanded its banking services across multiple communities, enhancing its market presence in Iowa, Missouri, Wisconsin, and Illinois[47] - The average yield on loans was 6.69%, up from 6.56% in the prior quarter, indicating a positive trend in loan profitability[43]

Core Insights - QCR Holdings, Inc. reported a net income of $29.1 million and diluted earnings per share (EPS) of $1.72 for Q2 2024, showing an increase from $26.7 million and $1.58 in Q1 2024 [1][9]. Financial Performance - Net interest income for Q2 2024 was $56.2 million, up $1.5 million or nearly 3% from Q1 2024, with an annualized growth rate of 11% [3][9]. - Adjusted net interest margin (NIM) on a tax-equivalent yield (TEY) basis expanded by 2 basis points to 3.26% from Q1 2024 [4][12]. - Noninterest income increased to $30.9 million in Q2 2024, up from $26.9 million in Q1 2024, with capital markets revenue at $17.8 million [4][9]. - Noninterest expenses were well-controlled at $49.9 million, down $0.8 million or nearly 2% from the previous quarter [5][14]. Asset Quality and Growth - Total loans and leases grew by $206.1 million to $6.9 billion, with year-to-date loan growth at 9.5% annualized [6][16]. - The ratio of criticized loans to total loans improved to 2.41% from 2.75% in the previous quarter, indicating enhanced asset quality [6][17]. - The company's nonperforming assets (NPAs) to total assets ratio was 0.39%, a slight increase from 0.36% in the prior quarter [17]. Capital and Liquidity - The company maintained strong capital levels, with a total risk-based capital ratio of 14.33% and a Tier 1 risk-based capital ratio of 10.58% as of June 30, 2024 [29]. - As of June 30, 2024, QCR Holdings had approximately $3.1 billion in available liquidity sources [15]. Shareholder Value - Tangible book value per share increased by $1.72, or 15.3% annualized, during Q2 2024, reflecting strong earnings and a modest dividend [19].

Net interest margin ("NIM") was 2.82% and NIM on a tax-equivalent yield ("TEY") basis (non-GAAP) was 3.27% for the second quarter, as compared to 2.82% and 3.25% for the prior quarter, respectively. Adjusted NIM TEY (non-GAAP) of 3.26%, represented an increase of 2 basis points from 3.24% for the first quarter of 2024. Second Quarter 2024 Highlights Total uninsured and uncollateralized deposits remain very low at 18% of total deposits as of the end of the second quarter of 2024, as compared to 20% as of the ...

QCR Holdings, Inc., headquartered in Moline, Illinois, is a relationship-driven, multi-bank holding company serving the Quad Cities, Cedar Rapids, Cedar Valley, Des Moines/Ankeny, and Springfield communities through its wholly owned subsidiary banks. The banks provide full-service commercial and consumer banking and trust and wealth management services. Quad City Bank & Trust Company, based in Bettendorf, Iowa, commenced operations in 1994; Cedar Rapids Bank & Trust Company, based in Cedar Rapids, Iowa, com ...

Group 1 - QCR Holdings, Inc. announced the retirement of John H. Anderson, Chief Deposit Officer and CEO of Quad City Bank and Trust Company, effective January 3, 2025 [1] - Laura "Divot" Ekizian will succeed Mr. Anderson as CEO of QCBT while continuing her role as President [1] - Mr. Anderson has been a leader in the Quad Cities banking industry for 40 years, with 26 years at QCBT and 17 years as CEO [1] Group 2 - QCR Holdings, Inc. is a multi-bank holding company headquartered in Moline, Illinois, serving various communities through its wholly owned subsidiary banks [2] - The company provides full-service commercial and consumer banking, as well as trust and wealth management services [2] - As of March 31, 2024, QCR Holdings had $8.6 billion in assets, $6.6 billion in loans, and $6.8 billion in deposits [2]

MOLINE, Ill., May 17, 2024 (GLOBE NEWSWIRE) -- QCR Holdings, Inc. (NASDAQ: QCRH) today announced the election of four Class I directors at the Company's annual meeting of its stockholders. The directors, Mary Kay Bates, John-Paul E. Besong, Todd A. Gipple, and Donna J. Sorenson, were re-elected to three-year terms. Additionally, on May 15, 2024, the Company's Board of Directors declared a cash dividend of $0.06 per share payable on July 3, 2024, to holders of common stock of the Company of record on June 14 ...

MOLINE, Ill., May 17, 2024 (GLOBE NEWSWIRE) -- QCR Holdings, Inc. (NASDAQ: QCRH) today announced the election of four Class I directors at the Company's annual meeting of its stockholders. The directors, Mary Kay Bates, John-Paul E. Besong, Todd A. Gipple, and Donna J. Sorenson, were re-elected to three-year terms. Contact: Todd A. Gipple President Chief Financial Officer (309) 743-7745 tgipple@qcrh.com Additionally, on May 15, 2024, the Company's Board of Directors declared a cash dividend of $0.06 per sha ...