$QCRH

QCR HOLDINGS INC

CIK:0000906465|SEC Filings

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Loans/leases, including fees:
Taxable	$ 77,584	$ 75,122	$ 154,241	$ 149,210
Nontaxable	24,520	27,747	49,978	54,095
Securities:
Taxable	4,755	4,805	9,717	9,393
Nontaxable	12,244	10,158	23,312	19,370
Interest-bearing deposits at financial institutions	1,353	1,634	2,841	3,438
Restricted investment securities	519	622	904	1,156
Federal funds sold	52	159	125	258
Total interest and dividend income	121,027	120,247	241,118	236,920
Interest expense:
Deposits	46,794	51,013	92,349	101,400
Short-term borrowings	31	15	58	33
Federal Home Loan Bank advances	1,383	2,853	1,680	4,849
Other borrowings	1,264		2,431
Subordinated notes	2,923	3,599	7,843	7,201
Junior subordinated debentures	716	685	1,403	1,369
Total interest expense	53,111	58,165	105,764	114,852
Net interest income	67,916	62,082	135,354	122,068
Provision for credit losses	4,708	4,043	7,162	8,277
Net interest income after provision for credit losses	63,208	58,039	128,192	113,791
Noninterest income:
Gains on sales of residential real estate loans, net	507	556	1,121	853
Capital markets revenue	15,392	9,869	26,093	16,385
Earnings on bank-owned life insurance	1,025	998	1,956	1,522
Loan related fee income	1,066	1,096	2,016	1,994
Fair value gain on derivatives and trading securities	802	230
Other	189	183	1,056	622
Total noninterest income	29,427	22,115	52,379	39,007
Noninterest expense:
Salaries and employee benefits	32,120	28,474	63,509	55,838
Occupancy and equipment expense	7,342	6,837	14,821	13,292
Professional and data processing fees	5,597	6,089	10,759	11,233
FDIC insurance, other insurance and regulatory fees	1,973	1,960	4,045	3,930
Loan/lease expense	291	407	397	788
Net cost of (income from) and losses/(gains) on operations of other real estate	(11)	50	5	41
Advertising and marketing	1,822	1,746	3,597	3,359
Communication and data connectivity	243	274	445	564
Supplies	265	252	498	459
Bank service charges	711	720	1,375	1,316
Correspondent banking expense	335	314	668	643
Intangibles amortization	506	661	1,012	1,322
Payment card processing	496	547	1,004	1,141
Trust expense	455	413	929	770
Other	1,012	839	2,218	1,426
Total noninterest expense	53,157	49,583	105,282	96,122
Net income before income taxes	39,478	30,571	75,289	56,676
Federal and state income tax expense	3,227	1,552	5,655	1,860
Net income	$ 36,251	$ 29,019	$ 69,634	$ 54,816
Basic earnings per common share (in dollars per share)	$ 2.2	$ 1.71	$ 4.2	$ 3.24
Diluted earnings per common share (in dollars per share)	$ 2.19	$ 1.71	$ 4.18	$ 3.22
Weighted average common shares outstanding	16,489,987	16,928,542	16,570,898	16,914,663
Weighted average common and common equivalent shares outstanding	16,569,815	17,006,282	16,655,678	17,010,136
Cash dividends declared per common share	$ 0.1	$ 0.06	$ 0.2	$ 0.12
Trust fees
Noninterest income:
Revenue	$ 4,281	$ 3,395	$ 8,175	$ 7,081
Investment advisory and management fees
Noninterest income:
Revenue	1,551	1,254	3,090	2,508
Deposit service fees
Noninterest income:
Revenue	2,115	2,187	4,088	4,370
Debit card fees
Noninterest income:
Revenue	1,752	1,648	3,411	3,136
Correspondent banking fees
Noninterest income:
Revenue	$ 747	$ 699	$ 1,440	$ 1,313

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 69,634	$ 54,816
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	4,974	4,515
Provision for credit losses	7,162	8,277
Stock-based compensation expense	1,743	1,920
Deferred compensation expense accrued	3,314	2,982
Gains on other real estate owned, net		(31)
Amortization of securities premiums/discounts, net	1,065	400
Fair value loss on derivatives and trading securities	67	777
Ineffectiveness on fair value hedges	7	16
Loans originated for sale	(46,141)	(39,310)
Proceeds on sales of loans	206,671	41,245
Gains on sales of residential real estate loans	(1,121)	(853)
Proceeds from loan securitizations	247,702
Net loss on loan securitizations	1,272
Net loss on LIHTC construction loan sales	287
Losses on sales and disposals of premises and equipment	1
Amortization of intangibles	1,012	1,322
Accretion of acquisition fair value adjustments, net	(920)	(268)
Increase in cash value of bank-owned life insurance	(1,858)	(1,522)
Gain on bank-owned life insurance proceeds	(98)
Increase (decrease) in other assets	19,258	(5,328)
Increase in other liabilities	(38,143)	(30,282)
Net cash provided by operating activities	475,888	38,676
CASH FLOWS FROM INVESTING ACTIVITIES
Net decrease in federal funds sold	3,450	150
Net (increase) decrease in interest-bearing deposits at financial institutions	(32,847)	24,738
Proceeds from sales of other real estate owned	190	740
Activity in securities portfolio:
Purchases	(95,782)	(119,930)
Calls, maturities and redemptions	38,222	31,081
Paydowns	2,931	17,535
Activity in restricted investment securities:
Purchases	(3,866)	(64)
Redemptions	2,144	2,585
Proceeds from bank-owned life insurance	330
Net increase in loans/leases originated and held for investment	(318,786)	(149,755)
Purchase of premises and equipment	(25,694)	(27,135)
Net cash used in investing activities	(429,708)	(220,055)
CASH FLOWS FROM FINANCING ACTIVITIES
Net increase in deposit accounts	3,136	257,166
Net increase (decrease) in short-term borrowings	6,257	(450)
Activity in Federal Home Loan Bank advances:
Term advances	226
Net change in short-term and overnight advances	23,000	(60,000)
Activity in other borrowings:
Repayments	(8,185)
Payment of cash dividends on common stock	(2,686)	(2,028)
Proceeds from issuance of common stock, net	1,232	(272)
Repurchase and cancellation of common stock	(34,312)
Net cash provided by (used in) financing activities	(11,332)	194,416
Net increase in cash and due from banks	34,848	13,037
Cash and due from banks, beginning	76,494	91,732
Cash and due from banks, ending	111,342	104,769
Supplemental disclosure of cash flow information, cash payments for:
Interest	108,150	116,887
Income/franchise taxes	2,827	249
Supplemental schedule of noncash investing activities:
Change in fair value of fair value hedges	2,075	(2,058)
Transfers of loans to other real estate owned		110
Transfer of loans to held for sale for securitizations in preparation	281,737
Transfer of loans to held for sale for LIHTC construction loan sale	161,711
Increase (decrease) in the fair value of back-to-back interest rate swap assets and liabilities	24,019	(60)
Dividends payable	$ 1,652	$ 1,016

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Assets
Cash and due from banks	$ 111,342	$ 76,494
Federal funds sold	19,700	23,150
Interest-bearing deposits at financial institutions	60,708	53,249
Securities held to maturity, at amortized cost (including securities pledged on other borrowings of $168,156 and $176,632, respectively, net of allowance for credit losses)	991,452	948,676
Securities available for sale, at fair value	293,989	279,777
Securities trading, at fair value	115,967	83,857
Total securities	1,401,408	1,312,310
Loans receivable held for sale	3,731	1,429
Loans/leases receivable held for investment	7,029,199	7,165,526
Gross loans/leases receivable	7,032,930	7,166,955
Less allowance for credit losses	(87,185)	(90,127)
Net loans/leases receivable	6,945,745	7,076,828
Bank-owned life insurance	114,563	112,937
Premises and equipment, net	236,130	215,411
Restricted investment securities	35,211	33,489
Other real estate owned, net	350	540
Goodwill	138,595	138,595
Intangibles	7,068	8,080
Derivatives	211,178	188,409
Other assets	238,645	258,702
Total assets	9,520,643	9,498,194
Liabilities and Stockholders' Equity
Noninterest-bearing	1,024,247	950,977
Interest-bearing	6,393,087	6,463,221
Total deposits	7,417,334	7,414,198
Short-term borrowings	8,907	2,650
Federal Home Loan Bank advances	268,609	245,383
Other borrowings	99,430	107,395
Subordinated notes	234,312	234,122
Junior subordinated debentures	49,057	48,991
Derivatives	131,921	137,051
Other liabilities	161,316	196,093
Total liabilities	8,370,886	8,385,883
Stockholders' Equity:
Preferred stock, $1 par value; shares authorized 250,000 June 30, 2026 and December 31, 2025 - no shares issued or outstanding
Common stock, $1 par value; shares authorized 20,000,000 June 30, 2026 - 16,367,268 shares issued and outstanding December 31, 2025 - 16,690,603 shares issued and outstanding	16,367	16,691
Additional paid-in capital	367,018	372,851
Retained earnings	814,481	773,353
Accumulated other comprehensive loss:
Securities available for sale	(33,558)	(35,655)
Derivatives	(14,551)	(14,929)
Total stockholders' equity	1,149,757	1,112,311
Total liabilities and stockholders' equity	$ 9,520,643	$ 9,498,194