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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%.
QCR Holdings
QCR Holdings
QCR Holdings Revenue by Segment
Revenue by Segment
Wealth Management Revenue
CapyFin.comCapital Markets Revenue
CapyFin.com 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