Core Insights - QCR Holdings reported a revenue of $107.02 million for the quarter ended December 2025, marking a year-over-year increase of 16.5% and exceeding the Zacks Consensus Estimate of $95.95 million by 11.54% [1] - The company's EPS for the same period was $2.21, up from $1.93 a year ago, also surpassing the consensus EPS estimate of $1.96 by 12.9% [1] Financial Performance Metrics - Efficiency Ratio (Non-GAAP) was reported at 58.7%, higher than the estimated 53.2% by three analysts [4] - Net interest margin (GAAP) stood at 3.1%, below the average estimate of 3.6% from three analysts [4] - Average Balance of Total earning assets was $8.87 billion, slightly above the $8.75 billion average estimate from two analysts [4] - Net charge-offs as a percentage of average loans/leases were 0.1%, better than the estimated 0.3% by two analysts [4] - Total noninterest income reached $38.67 million, significantly higher than the estimated $27.7 million by three analysts [4] - Gains on sales of residential real estate loans were $0.67 million, compared to the average estimate of $0.51 million [4] - Capital markets revenue was reported at $24.48 million, exceeding the average estimate of $15.25 million from two analysts [4] - Deposit service fees were $2.09 million, slightly below the estimated $2.28 million by two analysts [4] - Net Interest Income was $68.35 million, marginally above the estimated $68.14 million from two analysts [4] - Net interest income - tax equivalent (non-GAAP) was $79.63 million, compared to the average estimate of $78.5 million from two analysts [4] Stock Performance - Shares of QCR Holdings have returned +3.5% over the past month, outperforming the Zacks S&P 500 composite's +0.4% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the broader market in the near term [3]

Fourth Quarter 2025 Conference Call Safe Harbor This presentation contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements reflect the current views of First Western Financial, Inc.'s ("First Western") management with respect to, among other things, future events and First Western's financial performance. These statements are often, but not always, ma ...

Financial Data and Key Metrics Changes - The company reported diluted earnings per share (EPS) of $0.89 for the fourth quarter, a 7% increase compared to the linked quarter [4] - For the full year of 2025, net interest income improved by 2% compared to 2024, while the net interest margin declined by seven basis points [13][14] - The efficiency ratio for the fourth quarter was stable at 57.8%, with a full-year efficiency ratio of 58.7% compared to 58% for 2024 [16][18] Business Line Data and Key Metrics Changes - Loan growth for the full year was 6% compared to 2024, with a fourth-quarter annualized loan growth of 2% [10] - Fee-based income improved by 5% in the fourth quarter and 6% for the full year compared to 2024, driven by higher lease income and trust and investment income [15][16] - The provision for credit losses totaled $8.1 million for the fourth quarter, driven by net charge-offs and loan growth [6][7] Market Data and Key Metrics Changes - Non-performing loans grew nearly $4 million compared to the linked quarter, while criticized loans declined by $32 million [9] - At year-end, 98.6% of the loan portfolio was considered current, down from 99% at September 30 [10] - The loan-to-deposit ratio remained around 89%, consistent with the linked quarter-end and prior year-end [17] Company Strategy and Development Direction - The company is focusing on technological capabilities and has implemented state-of-the-art software programs to enhance operational efficiency [20][21] - There is a strategic emphasis on maintaining a neutral interest rate risk position and managing deposit costs [14][17] - The company plans to achieve positive operating leverage for 2026 and anticipates loan growth between 3% and 5% compared to 2025 [24][25] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about loan growth, particularly in the commercial sector, despite potential payoffs in a declining rate environment [33][34] - The company expects to cross the $10 billion asset threshold in 2027 but has no plans to do so organically [23][24] - Management anticipates a slight reduction in net charge-offs for 2026 compared to 2025, positively impacting the provision for credit losses [26] Other Important Information - The company plans to continue investing in data provision and warehousing, new talent, and specialty areas within existing businesses [84] - The Chief Commercial Banking Officer is set to retire, with a successor already appointed [22] Q&A Session Summary Question: Margin guidance and accretion benefit - Management indicated that the accretion benefit for the full year is expected to be closer to five basis points [31] Question: Tax rate expectations - The tax rate for 2025 was around 21%, with expectations for 2026 to be in the 22% range [32] Question: Loan demand outlook - Management expressed encouragement regarding loan growth, particularly in commercial lending, despite some expected payoffs [33] Question: M&A environment and criteria - The company is focused on strategic patience in evaluating M&A opportunities, primarily within its existing footprint [43][44] Question: North Star Leasing performance - Management acknowledged a slight increase in charge-offs but remains optimistic about the long-term outlook for the leasing business [48] Question: Capital actions and share buybacks - Management confirmed ongoing share buyback programs and a continuation of the dividend rate [74] Question: Fee income growth outlook - Management discussed the challenges in the insurance market but remains committed to growth through acquisitions [81] Question: Deposit growth expectations - Management does not expect deposits to keep pace with loan growth, anticipating an increase in the loan-to-deposit ratio [95]

Core Viewpoint - Columbia Banking System is positioned as a superior investment compared to Sound Financial Bancorp based on various financial metrics and analyst recommendations [1]. Dividends - Columbia Banking System offers an annual dividend of $1.48 per share with a yield of 5.1%, while Sound Financial Bancorp pays $0.76 per share with a yield of 1.8% [2]. - Columbia Banking System has a payout ratio of 66.7% of its earnings, compared to 28.8% for Sound Financial Bancorp, indicating a stronger dividend growth potential [2]. - Columbia Banking System has increased its dividend for 4 consecutive years, whereas Sound Financial Bancorp has done so for 2 years [2]. Analyst Recommendations - Columbia Banking System has a consensus rating score of 2.33, with 11 hold ratings, 3 buy ratings, and 1 strong buy rating [4]. - Sound Financial Bancorp has a lower consensus rating score of 2.00, with only 1 hold rating and no buy or strong buy ratings [4]. - Analysts suggest a target price of $29.58 for Columbia Banking System, indicating a potential upside of 2.54% [5]. Earnings & Valuation - Columbia Banking System reported gross revenue of $2.97 billion and net income of $533.67 million, with an earnings per share (EPS) of $2.22 and a price-to-earnings (P/E) ratio of 13.00 [7]. - In contrast, Sound Financial Bancorp has gross revenue of $62.03 million, net income of $4.64 million, an EPS of $2.64, and a P/E ratio of 16.37 [7]. - Columbia Banking System is trading at a lower P/E ratio, suggesting it is more affordable compared to Sound Financial Bancorp [7]. Profitability - Columbia Banking System has a net margin of 15.98%, return on equity of 11.13%, and return on assets of 1.18% [9]. - Sound Financial Bancorp shows lower profitability metrics with a net margin of 10.97%, return on equity of 6.48%, and return on assets of 0.65% [9]. Institutional and Insider Ownership - Institutional investors hold 92.5% of Columbia Banking System shares, while 68.9% of Sound Financial Bancorp shares are held by institutional investors [10]. - Insider ownership is 0.7% for Columbia Banking System and 12.4% for Sound Financial Bancorp, indicating stronger institutional confidence in Columbia Banking System [10]. Summary - Columbia Banking System outperforms Sound Financial Bancorp in 14 out of 18 comparative factors, highlighting its overall stronger financial position and investment potential [11].

Core Viewpoint - Security Federal reported strong financial performance for Q2 2025, with significant year-over-year growth in net interest income and earnings per share, despite a slight contraction in loan balances [1][5][6] Financial Performance - Earnings per share (GAAP) increased to $0.75, up 13.6% from $0.66 in Q2 2024 [2] - Net income available to common shareholders rose to $2.4 million, an 11.6% increase from $2.13 million in the same quarter last year [2][5] - Net interest income reached $11.3 million, reflecting a 10.8% growth compared to $10.2 million in Q2 2024 [2][6] - Non-interest income grew by 6.1% to $2.6 million, up from $2.45 million [2] - Non-interest expense increased by 7.2% to $10.4 million, compared to $9.7 million in the prior year [2][7] Asset and Loan Metrics - Total assets at the end of the period were $1.63 billion, a 5.3% increase from $1.54 billion in Q2 2024 [2] - Total loans receivable slightly declined to $685.5 million, down 0.2% since year-end 2024 [5] Capital and Credit Quality - Non-performing assets decreased to $5.95 million, representing 0.37% of total assets, down from 0.47% at the end of 2024 [9] - The allowance for credit losses was 2.00% of gross loans, showing a modest increase since year-end [9] - Regulatory capital ratios remain strong, with a total risk-based capital ratio of 20.46%, well above required levels [9] Preferred Stock Dividends - Preferred stock dividends surged to $415,000, more than four times the previous year's $97,000, impacting net income available to common shareholders [8] Business Focus and Strategy - Security Federal operates as a community-oriented bank with a focus on local businesses and individuals, offering a range of loan products [3][4] - The bank is designated as a Certified Community Development Financial Institution (CDFI), emphasizing lending to low- and moderate-income areas [4] Management Outlook - No explicit financial guidance for the remainder of fiscal 2025 was provided, leaving investors without specific targets for loan growth or earnings [11] - Investors are encouraged to monitor loan balances, non-interest expense trends, and the impact of preferred dividends on future performance [12]

Financial Performance - Net income available to common shareholders was $2.5 million, resulting in diluted earnings per share of $0.26 in 2Q25[12, 13] - Net interest income increased by $0.4 million, a 2.3% increase, from $17.5 million in 1Q25 to $17.9 million in 2Q25[10, 43] - Total assets under management increased by $320 million, a 4.5% increase, during the quarter to $7.50 billion[34] Loan Portfolio - Total loans held for investment increased by $114.4 million from the prior quarter due to strong loan production[24] - New loan production in 2Q25 reached $166.9 million, with a focus on relationship-based lending[24] - Total loans reached $2.57 billion[18] Deposits - Total deposits increased by 0.4% from $2.52 billion in 1Q25 to $2.53 billion in 2Q25[29] - Noninterest-bearing deposits decreased by 11.7% from $410 million in 1Q25 to $362 million in 2Q25, primarily due to seasonal outflows[29] Expenses and Efficiency - Non-interest expense decreased to $19.1 million from $19.4 million in 1Q25, driven by a decrease in salaries and employee benefits expense[53] - The efficiency ratio improved from 79.16% in 1Q25 to 78.83% in 2Q25[53] Asset Quality - ACL/Total Loans increased from 0.74% in 1Q25 to 0.75% in 2Q25[57]