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Sep 30, 2023
QCR Holdings Q3 2023 Earnings Report
QCR Holdings reported solid third quarter results, driven by a static net interest margin, robust loan growth, and significant fee income.
Key Takeaways
QCR Holdings announced a net income of $25.1 million and EPS of $1.49 for Q3 2023. The company saw growth in net interest income and strong loan growth, particularly in low-income housing tax credit lending. Asset quality remained strong, and core deposits remained relatively stable.
Net income was $25.1 million, with diluted EPS of $1.49.
Net interest income increased by $2.1 million from the previous quarter.
Total loans and leases grew by $227.0 million.
Nonperforming assets to total assets ratio was 0.41%.
Revenue by Segment
Forward Guidance
QCR Holdings expects loan growth for the fourth quarter to be in the range of 9 to 12% on an annualized basis. The company has two low-income housing tax credit loan securitizations scheduled to close in the fourth quarter.
Positive Outlook
- Maintaining guidance for growth in loans held for investment for Q4 to be in the range of 9 to 12% on an annualized basis.
- Pipeline continues to be strong.
- Two low-income housing tax credit loan securitizations scheduled to close in Q4.
- Plan to continue to utilize securitizations on an ongoing basis as it is viewed as an effective tool in managing liquidity and capital.
- Securitization will provide ongoing capacity for continued low-income housing tax credit production and the corresponding capital markets revenue.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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