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Dec 31, 2020
QCR Holdings Q4 2020 Earnings Report
Announced record net income for the fourth quarter and full year.
Key Takeaways
QCR Holdings announced record net income of $18.3 million and diluted earnings per share of $1.14 for the fourth quarter of 2020. Strong results were driven by robust revenue growth, record fee income and increased net interest income.
Net income was $18.3 million, and diluted EPS was $1.14 for the fourth quarter of 2020.
Pre-provision, pre-tax adjusted net income (non-GAAP) was $30.4 million in the fourth quarter of 2020.
Adjusted net income (non-GAAP) was $19.1 million and adjusted diluted EPS was $1.20 for the fourth quarter of 2020.
Asset quality and credit metrics improved during the quarter as nonperforming assets decreased by 22%.
QCR Holdings
QCR Holdings
Forward Guidance
The company is targeting organic loan growth for the full year 2021 of between 6% and 8%.