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Sep 30, 2020
QCR Holdings Q3 2020 Earnings Report
Reported record third quarter earnings despite elevated COVID-19 provisioning.
Key Takeaways
QCR Holdings, Inc. announced record quarterly net income of $17.3 million and diluted earnings per share (“EPS”) of $1.09 for the third quarter of 2020. Pre-provision, pre-tax adjusted net income (non-GAAP) increased $5.4 million in the third quarter compared to the second quarter, led by record swap fee income, strong loan growth and improved net interest income and margin.
Net income reached a record $17.3 million, with EPS at $1.09.
Pre-provision, pre-tax adjusted net income increased by $5.4 million compared to the previous quarter.
Loan portfolio experienced annualized growth of 11.5%, excluding PPP loans.
Net interest income totaled $44.6 million.
QCR Holdings
QCR Holdings
QCR Holdings Revenue by Segment
Revenue by Segment
Wealth Management Revenue
CapyFin.com Forward Guidance
The company now believes that it will be able to achieve organic loan growth of between 6% and 8% for the full year, higher than previous guidance.