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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Stockholders' Equity
The table below presents the composition of the Company's stockholders' equity.
| | | | | | | | | | | | | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| · · As of · | ||||||||||||
| · March 31, 2024 · December 31, 2023 · · March 31, 2023 · | ||||||||||||
| | | (dollars in thousands) | | |||||||||
| | | | | | | | | | | | | |
| Common stock | | $16,807 | | $16,749 | | | $16,714 | | | |||
| Additional paid in capital | | 371,157 | | 370,814 | | | 368,302 | | | |||
| Retained earnings | | 580,711 | | 554,992 | | | 472,051 | | | |||
| AOCI | | (61,333) | | (55,959) | | | (55,573) | | | |||
| Total stockholders' equity | | $907,342 | | $886,596 | | | $801,494 | | | |||
| | | | | | | | | | | | | |
| TCE / TA ratio (non-GAAP)* | | 8.94% | 8.75% | | 8.21% | | ||||||
*TCE/TA ratio is defined as total common stockholders' equity excluding goodwill and other intangibles divided by total assets. This ratio is a non-GAAP financial measure. See GAAP to Non-GAAP Reconciliations.
As of March 31, 2024 and 2023, no preferred stock was outstanding.
AOCI decreased $5.4 million during the first quarter of 2024 due to an decrease in the value of the Company’s AFS securities portfolio and certain derivatives resulting from the change in interest rates during the first quarter.
On May 19, 2022, the board of directors of the Company approved a share repurchase program under which the Company is authorized to repurchase, from time to time as the Company deems appropriate, up to 1,500,000 shares of its outstanding common stock, or approximately 10% of the outstanding shares as of December 31, 2021. No shares were repurchased during the first quarter of 2024. There were 760,915 shares of common stock remaining for repurchase as of March 31, 2024.
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