QCR HOLDINGS INC
For the period ended Mar 31, 2026. Filed May 8, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2026 · Filed May 8, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Investment Securities
The composition of the Company’s securities portfolio is managed to meet liquidity needs while prioritizing the impact on interest rate risk, maximizing return and minimizing credit risk. In recent years, the Company has continued to shift the mix of the portfolio by decreasing U.S. government sponsored agency securities, while increasing tax-exempt municipal securities. Of the latter, the large majority are privately placed tax-exempt debt issuances by municipalities located in the Midwest (with some in or near the Company’s existing markets) that require a thorough underwriting process before investment and are generated by our specialty finance group.
Trading securities had a fair value of $82.7 million as of March 31, 2026 and consisted of retained beneficial interests acquired in conjunction with loan securitizations completed by the Company in prior years. See also Note 4 to the Consolidated Financial Statements for details of these securitizations.
Following is a breakdown of the Company's securities portfolio by type, the percentage of net unrealized gains (losses) to carrying value on the total portfolio, and the portfolio duration:
| | | | | | | | | | | | | | | | | | | | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| · · As of · | |||||||||||||||||||
| · · March 31, 2026 · · · · December 31, 2025 · · March 31, 2025 | |||||||||||||||||||
| · · Amount · · % · · · · Amount · · % · · · Amount · · % · | |||||||||||||||||||
| · · (dollars in thousands) | |||||||||||||||||||
| | | | | | | | | | | | | | | | | | | | |
| U.S. treasuries and govt. sponsored agency securities | | $15,059 | 1% | | | $16,024 | 1% | | $17,487 | 1% | |||||||||
| Municipal securities | | 1,081,102 | 81% | | | 1,081,002 | 82% | | 1,003,985 | 82% | |||||||||
| Residential mortgage-backed and related securities | | 86,222 | 7% | | | 68,855 | 5% | | 43,194 | 4% | |||||||||
| Asset-backed securities | | | 4,076 | | 1% | | | | 4,439 | | 1% | | | 7,764 | | 1% | |||
| Other securities | | 55,845 | 4% | | | 58,133 | 5% | | 66,105 | 5% | |||||||||
| Trading securities | | 82,728 | 6% | | | 83,857 | 6% | | 82,445 | 7% | |||||||||
| | | $1,325,032 | 100% | | | $1,312,310 | 100% | | $1,220,980 | 100% | |||||||||
| | | | | | | | | | | | | | | ||||||
| Securities as a % of total assets | | 13.78% | | | | | 13.82% | | | | 13.44% | | | ||||||
| Net unrealized losses as a % of Amortized Cost | | (12.48)% | | | | | (10.82)% | | | | (11.45)% | | | ||||||
| Duration (in years) | | 5.2 | | | | | | 5.4 | | | | | 5.6 | | | | |||
| Annual yield on investment securities (tax equivalent) | | | 5.62% | | | | | | 4.77% | | | | | 5.24% | | | |||
The Company has not invested in non-agency commercial or residential mortgage-backed securities or pooled trust preferred securities. See Note 2 to the Consolidated Financial Statements for additional information regarding the Company's investment securities.
Part I
Item 2
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