QCR HOLDINGS INC
For the period ended Jun 30, 2026. Filed Aug 7, 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.
Jun 30, 2026 · Filed Aug 7, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Executive Overview
The Company reported net income of $36.3 million and diluted EPS of $2.19 for the quarter ended June 30, 2026. By comparison, for the quarter ended March 31, 2026, the Company reported net income of $33.4 million and diluted EPS of $1.99. For the quarter ended June 30, 2025, the Company reported net income of $29.0 million, and diluted EPS of $1.71. For the six months ended June 30, 2026, the Company reported net income of $69.6 million and diluted EPS of $4.18. By comparison, for the six months ended June 30, 2025, the Company reported net income of $54.8 million and diluted EPS of $3.22.
Part I
Item 2
The second quarter of 2026 was also highlighted by the following results and events (see section titled “GAAP to Non-GAAP Reconciliations” for additional information):
| ● | Net income of $36.3 million, or $2.19 per diluted share, representing a 28% year-over-year increase in diluted EPS; |
| ● | Strong ROAA of 1.51%; |
| ● | Capital markets revenue from LIHTC production increased 69% year-over-year to $16.7 million; |
| ● | Wealth Management assets under management increased 9% and revenue increased 7% on a linked-quarter basis; |
| ● | Enhanced operating leverage, reflected by a 310-basis point improvement over the linked-quarter in the efficiency ratio to 54.6%; |
| ● | Robust loan growth of 12% annualized, excluding securitization, LIHTC offtake transactions, and planned m2 portfolio runoff; |
| ● | Successful execution of $443.6 million in LIHTC loan offtake transactions; |
| ● | Tangible book value per share (non-GAAP) growth of $2.17, or 15% annualized on a linked-quarter basis; |
| ● | Opportunistic share repurchases of 149,639 common shares at an average price of $90.01 per share; and |
| ● | Asset quality improved to its strongest level since 2019. |
Following is a table that represents various net income measurements for the Company:
| | | | | | | | | | | | | | | | | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| · · For the three months ended · · For the six months ended · | ||||||||||||||||
| · · June 30, 2026 · · March 31, 2026 · · June 30, 2025 · · June 30, 2026 · · June 30, 2025 · | ||||||||||||||||
| · · (dollars in thousands, except per share data) · | ||||||||||||||||
| | | | | | | | | | | | | | | | | |
| Net income | | $36,251 | | $33,383 | | $29,019 | | $69,634 | | $54,816 | | |||||
| | | | | | | | | | | | | | | | | |
| Diluted earnings per common share | | $2.19 | | $1.99 | | $1.71 | | $4.18 | | $3.22 | | |||||
| | | | | | | | | | | | | | | | | |
| Weighted average common and common equivalent shares outstanding | | 16,569,815 | | 16,741,541 | | 17,006,282 | | 16,655,678 | | 17,010,136 | | |||||
The Company reported adjusted net income (non-GAAP) of $36.3 million, with adjusted diluted EPS (non-GAAP) of $2.19 for the three months ended June 30, 2026. See section titled “GAAP to Non-GAAP Reconciliations” for additional information. The Company reported adjusted net income (non-GAAP) of $69.7 million, with adjusted diluted EPS (non-GAAP) of $4.18 for the six months ended June 30, 2026.
Following is a table that represents the major income and expense categories for the Company:
| | | | | | | | | | | | | | | | | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| · · For the three months ended · · For the six months ended · | ||||||||||||||||
| · · June 30, 2026 · · March 31, 2026 · · June 30, 2025 · · June 30, 2026 · · June 30, 2025 | ||||||||||||||||
| · · (dollars in thousands) · | ||||||||||||||||
| | | | | | | | | | | | | | | | | |
| Net interest income | | $67,916 | | $67,438 | | $62,082 | | $135,354 | | $122,068 | | |||||
| Provision for credit losses | | 4,708 | | 2,454 | | 4,043 | | 7,162 | | 8,277 | | |||||
| Noninterest income | | 29,427 | | 22,952 | | 22,115 | | 52,379 | | 39,007 | | |||||
| Noninterest expense | | 53,157 | | 52,125 | | 49,583 | | 105,282 | | 96,122 | | |||||
| Federal and state income tax expense | | 3,227 | | 2,428 | | 1,552 | | 5,655 | | 1,860 | | |||||
| Net income | | $36,251 | | $33,383 | | $29,019 | | $69,634 | | $54,816 | | |||||
| | | | | | | | | | | | | | | | | |
Following are certain noteworthy developments in the Company's financial results for the quarter ended June 30, 2026:
| ● | Net interest income in the second quarter of 2026 increased 1% compared to the first quarter of 2026 and increased 9% compared to the second quarter of 2025 due to higher average earning assets and higher NIM. Net interest |
Part I
Item 2
income increased 11% when comparing the first six months of 2026 to the same period of the prior year due to higher average earning assets and higher NIM.
| ● | The provision for credit losses in the second quarter of 2026 increased $2.3 million compared to the first quarter of 2026 reflecting loan growth in the current quarter and the prior quarter’s benefit from a reversal of credit loss expense related to loans transferred to held for sale. Provision expense increased $665 thousand compared to the second quarter of 2025. Provision expense in the first six months of 2026 decreased $1.1 million compared to the first six months of 2025. See the “Provision for Credit Losses” section of this report for additional details. |
| ● | Noninterest income in the second quarter of 2026 increased $6.5 million, or 28%, compared to the first quarter of 2026 primarily due to higher capital markets revenue from swap fees during the second quarter. Noninterest income in the second quarter of 2026 increased $7.3 million, or 33%, compared to the second quarter of 2025 and increased $13.4 million, or 34%, when comparing the first six months of 2026 to the same period of the prior year. The increases across both periods were primarily due to higher capital markets revenue from swap fees. The demand for low-income housing remains healthy and the economics associated with these tax credit projects continue to be favorable. The Company has a strong pipeline for this business that continues to improve. The Company expects its capital markets revenue will continue to be a significant source of fee income. |
| ● | Noninterest expense in the second quarter of 2026 increased $1.0 million, or 2%, compared to the first quarter of 2026. The increase was primarily due to higher capital markets revenue and its impact on variable compensation and higher professional and data processing fees. Noninterest expense increased $3.6 million, or 7%, compared to the second quarter of 2025. The increase was primarily due to higher capital markets revenue and its impact on variable compensation, and higher occupancy and equipment expense related to the Company’s digital transformation. Noninterest expense increased $9.2 million, or 10%, when comparing the first six months of 2026 to the same period in the prior year. These increases were primarily due to higher capital markets revenue and its impact on variable compensation and higher occupancy and equipment expense related to the Company’s digital transformation. |
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