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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.
Revenue by Segment
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.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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