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Dec 31, 2022
QCR Holdings Q4 2022 Earnings Report
Announced net income for the fourth quarter and record net income for the full year.
Key Takeaways
QCR Holdings, Inc. reported a strong fourth quarter with net income of $30.9 million and diluted earnings per share of $1.81. The company's performance was driven by robust loan growth, increased net interest income, and excellent credit quality. The successful integration of Guaranty Bank also contributed to the company's strong results.
Net income for the fourth quarter of 2022 was $30.9 million, with diluted EPS of $1.81.
Adjusted net income (non-GAAP) for the fourth quarter of 2022 was $31.1 million, with adjusted diluted EPS (non-GAAP) of $1.83.
Net interest income for the fourth quarter of 2022 totaled $65.2 million.
Loans and leases grew by $130.3 million during the fourth quarter of 2022, representing an annualized growth rate of 8.7%.
QCR Holdings
QCR Holdings
Forward Guidance
QCR Holdings anticipates loan growth for the full year 2023 to be between 8% and 10%, consistent with their long-term goals. Capital markets revenue is expected to be in a range of $40 to $48 million for the full year 2023.
Positive Outlook
- Targeting loan growth for the full year 2023 between 8% and 10%.
- Strong pipeline for the capital markets business.
- Economics associated with low-income housing tax credit projects continue to be favorable.
- Capital markets revenue has averaged just over $10 million per quarter for the last four quarters.
- Expect capital markets revenue to be in a range of $40 to $48 million for the full year 2023.