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Mar 31, 2023
QCR Holdings Q1 2023 Earnings Report
Reported strong results with increased fee income and managed expenses.
Key Takeaways
QCR Holdings, Inc. announced a net income of $27.2 million and diluted earnings per share of $1.60 for the first quarter of 2023. The company experienced core deposit growth, bolstered on-balance sheet liquidity, and maintained strong capital levels.
Net income was $27.2 million and diluted EPS was $1.60.
Core deposits grew by $19.9 million, reaching a total of $5.9 billion.
Noninterest income jumped 22% to $25.8 million, driven by capital markets revenue.
Loans and leases grew by $51.2 million, totaling $6.2 billion.
QCR Holdings
QCR Holdings
Forward Guidance
The company is guiding to loan growth in the second quarter in the range of zero to 5%, on an annualized basis net of the planned loan securitization.