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 ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______to________ Commission file number 0-22208 QCR HOLDINGS, INC. (Exact name of Registrant as specified in its charter) Delaware 42-1397595 (State or ot ...

Financial Data and Key Metrics Changes - The company reported adjusted net income of $26.9 million, or $1.59 per diluted share, with a return on average assets (ROAA) of 1.25% and return on average equity (ROAE) of 11.83% for the quarter, indicating strong performance relative to peers [3][11][13] - Total loans grew by 6.4% on an annualized basis, translating to a net growth of $105 million, primarily driven by the low-income housing tax credit (LIHTC) lending program [43][50] - Core deposits increased by $316 million during the quarter, representing over 20% annualized growth, which is crucial for sustaining future loan growth [21][43] Business Line Data and Key Metrics Changes - Non-interest income for the first quarter was $26.9 million, down from a record $47.7 million in the previous quarter, with capital markets revenue at $16.5 million benefiting from strong demand for affordable housing [27][59] - The wealth management business generated $4.3 million in revenue, reflecting a 16% annualized increase from the previous quarter, with significant growth anticipated in new markets [58][102] Market Data and Key Metrics Changes - The company maintained a low level of uninsured and uncollateralized deposits at 20% of total deposits, indicating strong liquidity management [52] - The ratio of non-performing assets (NPAs) to total assets improved to 36 basis points, remaining below historical averages, showcasing excellent asset quality [13][60] Company Strategy and Development Direction - The company is focused on its 9-6-5 strategy, aiming to sustain top-tier financial performance across key metrics such as earnings per share and tangible book value per share growth [17][49] - Future loan growth is expected to be funded through core deposit growth and ongoing securitizations, with a commitment to enhancing employee and client experiences through technology investments [19][21] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism regarding the economic resilience of their markets, noting no significant signs of weakness among clients [45][46] - The company is well-positioned to navigate potential rate cuts, with expectations of benefiting from improved margins if rates decrease [110] Other Important Information - The tangible common equity ratio increased to 8.94%, driven by strong earnings, with a goal to reach the low nines for better capital positioning [30][125] - The effective tax rate for the quarter was 4%, significantly lower than the previous quarter, aided by tax-exempt loan and bond portfolios [31][32] Q&A Session Summary Question: What is the impact of upcoming LIHTC securitizations? - Management expects a $275 million securitization to occur in the third quarter, which will enhance liquidity and positively impact net interest margin [35][75] Question: How are deposit costs evolving? - There has been a reduction in non-interest bearing deposits, but management noted a stabilization in deposit pricing, with expectations of maintaining competitive rates [68][76] Question: What is the outlook for loan growth? - The company maintains confidence in achieving 4% to 6% growth with securitization and 8% to 10% without it, supported by strong early quarter performance [90] Question: How is the wealth management business performing? - The wealth management segment is growing well, with an 11% increase in assets under management and a strong client acquisition rate [102] Question: What are the priorities for capital management? - The focus is on strengthening the balance sheet and capital ratios before considering stock buybacks or dividends, with M&A being a lower priority currently [125]

Financial Performance - Net income for Q1 2024 was $26.7 million, with diluted EPS of $1.58, down from $32.9 million and $1.95 in Q4 2023[2] - Adjusted net income (non-GAAP) for Q1 2024 was $26.9 million, compared to $33.3 million in Q4 2023[3] - Net income for the quarter was $26,726,000, down from $32,855,000 in the prior quarter, representing a decrease of 18.6%[39] - Basic EPS for the quarter was $1.59, compared to $1.96 in the previous quarter, a decline of 18.9%[39] - Adjusted net income (non-GAAP) for Q1 2024 was $26,855,000, a decrease of 19.5% from $33,315,000 in Q4 2023[64] - Adjusted earnings per common share (non-GAAP) for Q1 2024 were $1.60 (basic) and $1.59 (diluted), compared to $1.99 (basic) and $1.97 (diluted) in Q4 2023[64] Income and Expenses - Noninterest income totaled $26.9 million, down from $47.7 million in Q4 2023, with capital markets revenue at $16.5 million[12] - Total noninterest income decreased to $26,858,000 from $47,729,000 in the previous quarter, a decline of 43.8%[39] - Total noninterest expense decreased to $50,690,000 from $60,938,000 in the previous quarter, a reduction of 16.8%[39] - Noninterest expense (GAAP) for Q1 2024 was $50,690,000, a decrease from $60,938,000 in Q4 2023[65] Asset and Deposit Growth - Total assets increased to $8,599,549 thousand as of March 31, 2024, compared to $8,538,894 thousand at December 31, 2023, reflecting a growth of 0.7%[34] - Total deposits rose to $6,806,775 thousand, up 4.5% from $6,514,005 thousand at December 31, 2023[35] - Total assets for Quad City Bank and Trust increased to $2,618,727,000 from $2,448,957,000 in the previous quarter, representing a growth of 6.9%[55] - Total deposits at Quad City Bank and Trust rose to $2,161,515,000, up 14.9% from $1,878,375,000 in the previous quarter[55] Loan and Lease Performance - Total loans and leases grew by $104.9 million to $6.6 billion, representing a 6.4% annualized growth[19] - The company maintains a loan growth target of 8% to 10% for the full year 2024[21] - The loan portfolio included significant LIHTC balances totaling $1.9 billion as of March 31, 2024[36] - Total loans and leases for Quad City Bank and Trust increased to $2,046,038,000, a rise of 3.1% from $1,983,679,000 in the previous quarter[55] Asset Quality - Nonperforming assets decreased by 8.5% to $31.3 million, improving the ratio of NPAs to total assets to 0.36%[22] - The allowance for credit losses decreased to $84,470 thousand from $87,200 thousand, indicating improved asset quality[34] - Nonperforming assets totaled $31,327 thousand, representing 0.36% of total assets, an improvement from 0.40% in the previous quarter[52] - The allowance for credit losses on loans/leases decreased to $84,470 thousand from $87,200 thousand in the previous quarter[52] Capital and Ratios - The total risk-based capital ratio was 14.30%, with a common equity tier 1 ratio of 9.91% as of March 31, 2024[25] - Tangible book value per share (non-GAAP) increased by $1.12, or 10.2% annualized[26] - Total stockholders' equity increased to $907,342 thousand, up from $886,596 thousand, marking a growth of 2.8%[34] - Total stockholders' equity rose to $903,371,000, an increase of 6.00% from $852,163,000 in the prior quarter[43] Efficiency and Returns - The efficiency ratio (Non-GAAP) increased to 62.15% from 58.90% in the previous quarter, indicating a decline in operational efficiency[42] - Return on average assets (annualized) decreased to 1.25% from 1.53% in the previous quarter[42] - Adjusted return on average assets (annualized) decreased to 1.26% in Q1 2024 from 1.56% in Q4 2023[65] - The net interest margin (TEY) (non-GAAP) for Q1 2024 was 3.25%, a decrease from 3.32% in Q4 2023[65]

Table of Contents U.S. SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023. ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 0-22208 QCR HOLDINGS, INC. (Exact name of registrant as specified in its charter) Delaware 42-1397595 (State of incorporation) (I.R.S. Employer Identification No.) 3551 7th S ...

Financial Data and Key Metrics Changes - The company reported record net income of $32.9 million or $1.95 per diluted share for the fourth quarter, with adjusted net income at $33.3 million or $1.97 per diluted share [18] - Total loans grew at a compounded annual rate of 12%, while deposits increased at 10%, supporting a 17% compounded annual growth in core diluted earnings per share and a 30% growth in tangible book value per share [4] - The allowance for credit losses to total loans held for investment was 1.33%, with a provision for credit losses of $5.2 million during the quarter [25][51] Business Line Data and Key Metrics Changes - Core deposits, excluding short-term broker deposits, increased by $346 million or 6% for the year, reflecting the importance of a diversified deposit franchise [5][8] - Capital markets revenue surged to a record $37 million for the fourth quarter, significantly exceeding the previous quarter's $15.6 million [21][49] - Wealth management revenue increased by $1.1 million or 7% for the full year, with the addition of 340 new client relationships and $700 million in assets under management [22] Market Data and Key Metrics Changes - The company experienced a lower increase in the cost of funds, with a shift in the composition of deposits from non-interest and lower beta deposits to higher beta deposits [9] - The total risk-based capital ratio was 14.15% at quarter end, a decline of 33 basis points due to increased risk-weighted assets from LIHTC lending [26] Company Strategy and Development Direction - The company plans to target loan growth of 8% to 10% for 2024, with a planned securitization of LIHTC loans of approximately $200 million in mid-2024 [43] - The focus on growing core deposits is expected to drive long-term shareholder value, with incentives for bankers to grow both deposits and loans [5][36] - The company aims to maintain strong capital levels and is focused on building its capital base in the year ahead, targeting capital ratios in the top quartile of its peer group [44] Management's Comments on Operating Environment and Future Outlook - Management remains cautiously optimistic about the economic resiliency of their markets despite elevated interest rates [15] - The company expects that the increase in average loan and investment yields will offset any further increase in funding costs, guiding to a relatively static net interest margin [19] - Management noted that the effective tax rate is expected to remain in the range of 8% to 11% for the full year 2024 [27] Other Important Information - The company successfully completed its first two loan securitizations totaling $265 million, which is seen as a significant tool for managing liquidity and capital [3][7] - Non-interest expense for the fourth quarter totaled $60.9 million, primarily due to higher variable employee compensation based on strong full-year results [23] Q&A Session Summary Question: How does the company view the margin impact from Fed rate cuts? - Management indicated that a 25 basis point cut might yield $2 million to $3 million in net interest income annually and three to five basis points of net interest margin accretion [34] Question: What are the expectations for capital markets revenue? - The company raised its capital markets revenue guidance for the next 12 months to a range of $50 million to $60 million, reflecting strong demand and a healthy pipeline [50] Question: How does the company plan to manage expenses in 2024? - The guidance for non-interest expense in the first quarter is set between $49 million to $52 million, reflecting a focus on managing recurring expenses [24] Question: What is the outlook for loan growth and core deposit gathering? - The company expects to keep pace with loan growth through core deposits, with a loan-to-deposit ratio returning to 97% [85] Question: How does the company view the competitive landscape? - Management noted that some competitors are slowing down their activity due to capital constraints, allowing the company to gain market share [119]

Part I: Financial Information Presents unaudited consolidated financial statements and management's discussion and analysis [Item 1: Consolidated Financial Statements (Unaudited)](index=3&type=section&id=Item%201%20Consolidated%20Financial%20Statements%20(Unaudited)) Unaudited consolidated financial statements for QCR Holdings, Inc., detailing balance sheets, income, equity, and cash flows [Consolidated Balance Sheets](index=4&type=section&id=Consolidated%20Balance%20Sheets) Presents the Company's financial position, detailing assets, liabilities, and stockholders' equity | Metric | Sep 30, 2023 (in thousands) | Dec 31, 2022 (in thousands) | | :-------------------------------- | :-------------------------- | :-------------------------- | | Total Assets | **$8,540,057** | **$7,948,837** | | Total Liabilities | **$7,711,674** | **$7,176,113** | | Total Stockholders' Equity | **$828,383** | **$772,724** | - Total assets increased by **$591.2 million** (**7.4%**) from December 31, 2022, to September 30, 2023, primarily driven by growth in net loans/leases and derivatives[12](index=12&type=chunk) - Total deposits increased by **$510.6 million** (**8.5%**) from December 31, 2022, to September 30, 2023[12](index=12&type=chunk) [Consolidated Statements of Income (Three Months Ended September 30, 2023 and 2022)](index=5&type=section&id=Consolidated%20Statements%20of%20Income%20(Three%20Months%20Ended%20September%2030%2C%202023%20and%202022)) Details the Company's revenues, expenses, and net income for the three months ended September 30 | Metric (in thousands) | Q3 2023 | Q3 2022 | Change ($) | Change (%) | | :-------------------- | :---------- | :---------- | :---------- | :---------- | | Total Interest Income | **$108,568** | **$79,267** | **$29,301** | **37.0%** | | Total Interest Expense| **$53,313** | **$18,498** | **$34,815** | **188.2%** | | Net Interest Income | **$55,255** | **$60,769** | **$(5,514)** | **(9.1)%** | | Provision for Credit Losses | **$3,806** | **$0** | **$3,806** | N/A | | Total Noninterest Income | **$26,593** | **$21,095** | **$5,498** | **26.1%** | | Total Noninterest Expense | **$51,081** | **$47,746** | **$3,335** | **7.0%** | | Net Income | **$25,121** | **$29,294** | **$(4,173)** | **(14.2)%** | | Basic EPS | **$1.50** | **$1.73** | **$(0.23)** | **(13.3)%** | | Diluted EPS | **$1.49** | **$1.71** | **$(0.22)** | **(12.9)%** | - Net interest income decreased by **9.1%** year-over-year in Q3 2023, primarily due to a significant increase in interest expense (up **188.2%**) outpacing the growth in interest income (up **37.0%**)[14](index=14&type=chunk) - Noninterest income saw a substantial increase of **26.1%** in Q3 2023, driven by capital markets revenue and earnings on bank-owned life insurance[14](index=14&type=chunk) [Consolidated Statements of Income (Nine Months Ended September 30, 2023 and 2022)](index=7&type=section&id=Consolidated%20Statements%20of%20Income%20(Nine%20Months%20Ended%20September%2030%2C%202023%20and%202022)) Details the Company's revenues, expenses, and net income for the nine months ended September 30 | Metric (in thousands) | 9M 2023 | 9M 2022 | Change ($) | Change (%) | | :-------------------- | :---------- | :---------- | :---------- | :---------- | | Total Interest Income | **$301,162** | **$198,534** | **$102,628** | **51.7%** | | Total Interest Expense| **$135,892** | **$32,632** | **$103,260** | **316.4%** | | Net Interest Income | **$165,270** | **$165,902** | **$(632)** | **(0.4)%** | | Provision for Credit Losses | **$11,340** | **$8,284** | **$3,056** | **36.9%** | | Total Noninterest Income | **$84,955** | **$59,510** | **$25,445** | **42.8%** | | Total Noninterest Expense | **$149,593** | **$140,319** | **$9,274** | **6.6%** | | Net Income | **$80,703** | **$68,160** | **$12,543** | **18.4%** | | Basic EPS | **$4.82** | **$4.25** | **$0.57** | **13.4%** | | Diluted EPS | **$4.79** | **$4.20** | **$0.59** | **14.0%** | - For the nine months ended September 30, 2023, net income increased by **18.4%** year-over-year, despite a slight decrease in net interest income, primarily driven by a significant increase in noninterest income (up **42.8%**)[18](index=18&type=chunk) - Interest expense surged by **316.4%** for the nine-month period, reflecting the rising interest rate environment and increased cost of funds[18](index=18&type=chunk) [Consolidated Statements of Comprehensive Income](index=8&type=section&id=Consolidated%20Statements%20of%20Comprehensive%20Income) Reports net income and other comprehensive income/loss, reflecting changes in equity from non-owner sources | Metric (in thousands) | Q3 2023 | Q3 2022 | 9M 2023 | 9M 2022 | | :-------------------- | :---------- | :---------- | :---------- | :---------- | | Net Income | **$25,121** | **$29,294** | **$80,703** | **$68,160** | | Other Comprehensive Loss, net of tax | **$(19,415)** | **$(24,783)** | **$(16,426)** | **$(76,409)** | | Comprehensive Income (Loss) | **$5,706** | **$4,511** | **$64,277** | **$(8,249)** | - Comprehensive income for the nine months ended September 30, 2023, was **$64.3 million**, a significant improvement from a comprehensive loss of **$8.2 million** in the prior year, largely due to a reduced other comprehensive loss[19](index=19&type=chunk) - Unrealized losses on securities available for sale and derivatives contributed to other comprehensive loss, though the magnitude of these losses decreased significantly in 2023 compared to 2022[19](index=19&type=chunk) [Consolidated Statements of Changes in Stockholders' Equity](index=9&type=section&id=Consolidated%20Statements%20of%20Changes%20in%20Stockholders'%20Equity) Outlines changes in common stock, retained earnings, and accumulated other comprehensive income/loss | Metric (in thousands) | Dec 31, 2022 | Sep 30, 2023 | | :-------------------- | :----------- | :----------- | | Common Stock | **$16,796** | **$16,732** | | Additional Paid-In Capital | **$370,712** | **$369,833** | | Retained Earnings | **$450,114** | **$523,142** | | Accumulated Other Comprehensive (Loss) | **$(64,898)** | **$(81,324)** | | Total Stockholders' Equity | **$772,724** | **$828,383** | - Total stockholders' equity increased by **$55.6 million** from December 31, 2022, to September 30, 2023, primarily driven by net income, partially offset by an increase in accumulated other comprehensive loss[21](index=21&type=chunk) - The company repurchased and canceled **175,000 shares** of common stock during the nine months ended September

QCR Holdings, Inc. (NASDAQ:QCRH) Q3 2023 Earnings Conference Call October 26, 2023 11:00 AM ET Company Participants Larry Helling - Chief Executive Officer Todd Gipple - President and Chief Financial Officer Conference Call Participants Damon DelMonte - KBW Nathan Race - Piper Sandler Brian Martin - Janney Daniel Tamayo - Raymond James Operator Greetings and welcome to the QCR Holdings Inc. Earnings Conference Call for the Third Quarter of 2023. Yesterday after market close the company distributed its third ...