QCR HOLDINGS INC
For the period ended Sep 30, 2024. Filed Nov 8, 2024.
View on SEC.govAbout this filing
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.
Sep 30, 2024 · Filed Nov 8, 2024
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Financial Condition
Following is a table that represents the major categories of the Company’s balance sheet:
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|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| · · As of · | |||||||||||||||||||||||||
| · · September 30, 2024 · · · June 30, 2024 · · · December 31, 2023 · · September 30, 2023 · · | |||||||||||||||||||||||||
| · · (dollars in thousands) · | |||||||||||||||||||||||||
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| · Amount · % · · Amount · % · · Amount · % · Amount · % · | |||||||||||||||||||||||||
| Cash, federal funds sold, and interest-bearing deposits | | $262,999 | 3% | | $194,435 | 2% | | $237,492 | 3% | | $184,915 | 2% | | ||||||||||||
| Securities | | | 1,146,046 | 13% | | | 1,033,199 | 12% | | | 1,005,528 | 12% | | | 896,394 | 10% | | ||||||||
| Net loans/leases | | | 6,742,481 | 74% | | | 6,766,680 | 76% | | | 6,456,216 | 75% | | | 6,518,638 | 77% | | ||||||||
| Derivatives | | | 261,913 | | 3% | | | 194,354 | | 2% | | | 187,341 | | 2% | | | 291,295 | | 3% | | ||||
| Other assets | | | 675,126 | | 7% | | | 683,323 | | 8% | | | 652,317 | | 8% | | | 648,815 | | 8% | | ||||
| Total assets | | $9,088,565 | 100% | | $8,871,991 | 100% | | $8,538,894 | 100% | | $8,540,057 | 100% | | ||||||||||||
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| Total deposits | | $6,984,633 | 77% | | $6,764,667 | 76% | | $6,514,005 | 77% | | $6,494,852 | 76% | | ||||||||||||
| Total borrowings | | | 660,344 | 7% | | | 768,671 | 9% | | | 718,295 | 8% | | | 712,126 | 8% | | ||||||||
| Derivatives | | | 285,769 | | 3% | | | 221,798 | | 2% | | | 215,735 | | 3% | | | 320,220 | | 4% | | ||||
| Other liabilities | | | 181,199 | 2% | | | 180,536 | 2% | | | 204,263 | 2% | | | 184,476 | 2% | | ||||||||
| Total stockholders' equity | | | 976,620 | 11% | | | 936,319 | 11% | | | 886,596 | 10% | | | 828,383 | 10% | | ||||||||
| Total liabilities and stockholders' equity | | $9,088,565 | 100% | | $8,871,991 | 100% | | $8,538,894 | 100% | | $8,540,057 | 100% | | ||||||||||||
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During the third quarter of 2024, the Company's total assets increased $216.6 million, or 2%, from June 30, 2024, to a total of $9.1 billion. The Company’s net loans/leases decreased $24.2 million in the third quarter of 2024. The decrease in net loans/leases was driven primarily by a decrease in loans held for sale with the closing of a loan securitization in the third quarter of 2024. Loans and leases held for investment increased $53.5 million as compared to the second quarter of 2024. The Company continues to experience strong loan demand from its LIHTC lending business. Deposits increased $220.0 million, or 3%, during the third quarter of 2024. Borrowings decreased $108.3 million, or 14%, during the third quarter of 2024 due primarily to strong deposit growth reducing funding needs.
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