QCR HOLDINGS INC
For the period ended Mar 31, 2024. Filed May 9, 2024.
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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, 2024 · Filed May 9, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
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Financial Condition
Following is a table that represents the major categories of the Company’s balance sheet.
| | | | | | | | | | | | | | | | | | | | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| · · As of · | |||||||||||||||||||
| · · March 31, 2024 · · · December 31, 2023 · · March 31, 2023 · · | |||||||||||||||||||
| · · (dollars in thousands) · | |||||||||||||||||||
| | | | | | | | | | | | | | | | | | | | |
| · Amount · % · · Amount · % · Amount · % · | |||||||||||||||||||
| Cash, federal funds sold, and interest-bearing deposits | | $158,008 | 2% | | $237,492 | 3% | | $318,292 | 4% | | |||||||||
| Securities | | | 1,031,861 | 12% | | | 1,005,528 | 12% | | | 877,446 | 11% | | ||||||
| Net loans/leases | | | 6,563,866 | 76% | | | 6,456,216 | 75% | | | 6,103,449 | 76% | | ||||||
| Derivatives | | | 183,888 | | 2% | | | 187,341 | | 2% | | | 130,350 | | 2% | | |||
| Other assets | | | 661,926 | | 8% | | | 652,317 | | 8% | | | 607,367 | | 7% | | |||
| Total assets | | $8,599,549 | 100% | | $8,538,894 | 100% | | $8,036,904 | 100% | | |||||||||
| | | | | | | | | | | | | | | | | | | | |
| Total deposits | | $6,806,775 | 79% | | $6,514,005 | 77% | | $6,501,663 | 80% | | |||||||||
| Total borrowings | | | 489,633 | 6% | | | 718,295 | 8% | | | 417,480 | 5% | | ||||||
| Derivatives | | | 211,677 | | 2% | | | 215,735 | | 3% | | | 150,401 | | 2% | | |||
| Other liabilities | | | 184,122 | 2% | | | 204,263 | 2% | | | 165,866 | 3% | | ||||||
| Total stockholders' equity | | | 907,342 | 11% | | | 886,596 | 10% | | | 801,494 | 10% | | ||||||
| Total liabilities and stockholders' equity | | $8,599,549 | 100% | | $8,538,894 | 100% | | $8,036,904 | 100% | | |||||||||
| | | | | | | | | | | | | | | | | | | | |
During the first quarter of 2024, the Company's total assets increased $60.7 million, or 1%, from December 31, 2023, to a total of $8.6 billion. The Company’s net loans/leases increased $107.7 million in the first quarter of 2024. The increase in net loans/leases was driven primarily by strength in our low-income housing tax credit lending business. The Company also experienced improved loan demand from its traditional commercial lending/leasing businesses. Deposits grew $292.8 million, or 4%, during the first quarter of 2024. Borrowings decreased $228.7 million, or 32%, during the first quarter of 2024 due primarily to an increase in core deposits which allowed the Company to reduce its short-term borrowings.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.