QCR HOLDINGS INC
For the period ended Dec 31, 2023. Filed Feb 29, 2024.
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FY2023 · Filed Feb 29, 2024
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Strategic Financial Metrics
The Company has estopablished strategic financial metrics by which it manages its business and measures its performance. The metrics are periodically updated to reflect business developments. While the Company is determined to work prudently to achieve these metrics, there is no assurance that they will be met. Moreover, the Company’s ability to achieve these metrics may be affected by the factors discussed under “Forward Looking Statements” as well as the factors detailed in the “Risk Factors” section included under Item 1A. of Part I of this Annual Report on Form 10-K. The Company’s strategic financial metrics are as follows:
| ● | Grow loans/leases by 9% per year, funded by core deposits; |
| ● | Grow fee-based income by at least 6% per year; and |
| ● | Limit our annual operating expense growth to 5% per year. |
The following table shows the evaluation of the Company’s strategic financial metrics:
| · · · · · · · · · · | |||||||
|---|---|---|---|---|---|---|---|
| · · · · · For the Year Ending | |||||||
| Strategic Financial Metric* · Key Metric · Target · December 31, 2023 · December 31, 2022 | |||||||
| Loan and lease growth organically ** | Loans and leases growth | > 9% annually | | 6.6% | | 14.6% | |
| Fee income growth *** | Fee income growth | > 6% annually | | 75.1% | | (21.5)% | |
| Improve operational efficiencies and hold noninterest expense growth | | Noninterest expense growth | < 5% annually | | 16.3% | | 18.8% |
- The fee income growth and noninterest expense growth calculations provided exclude non-core noninterest income and noninterest expense.
** Loan and lease growth excludes the initial loan balances from the GFED acquisition.
*** Fee income growth and noninterest expense growth are both impacted by the GFED acquisition.
It should be noted that these initiatives are long-term targets.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.