QCR HOLDINGS INC
For the period ended Dec 31, 2024. Filed Feb 28, 2025.
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FY2024 · Filed Feb 28, 2025
QCRH$102.99-0.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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● Note 20: Parent Company Only Financial Statements
The following is condensed financial information of QCR Holdings, Inc. (parent company only):
Condensed Balance Sheets**
**December 31, 2024 and 2023
| | | | | | | |
|---|---|---|---|---|---|---|
| · 2024 · 2023 | ||||||
| | | (dollars in thousands) | ||||
| Assets | | | | | | |
| Cash and due from banks | | $28,635 | | $53,331 | ||
| Investment in bank subsidiaries | | 1,259,571 | | 1,122,803 | ||
| Investment in nonbank subsidiaries | | 6,319 | | 6,129 | ||
| Premises and equipment, net | | 13,404 | | 9,286 | ||
| Other assets | | 16,370 | | 14,512 | ||
| Total assets | | $1,324,299 | | $1,206,061 | ||
| | | | ||||
| Liabilities and Stockholders' Equity | | | ||||
| Liabilities: | | | ||||
| Subordinated notes | | $233,489 | | $233,064 | ||
| Junior subordinated debentures | | 48,860 | | 48,731 | ||
| Other liabilities | | 44,563 | | 37,670 | ||
| Total liabilities | | 326,912 | | 319,465 | ||
| | | | ||||
| Stockholders' Equity: | | | ||||
| Common stock | | 16,882 | | 16,749 | ||
| Additional paid-in capital | | 374,975 | | 370,814 | ||
| Retained earnings | | 665,171 | | 554,992 | ||
| Accumulated other comprehensive loss | | (59,641) | | (55,959) | ||
| Total stockholders' equity | | 997,387 | | 886,596 | ||
| Total liabilities and stockholders' equity | | $1,324,299 | | $1,206,061 | ||
| | | | | | | |
Note 20. Parent Company Only Financial Statements (continued)
Condensed Statements of Income**
**Years Ended December 31, 2024, 2023, and 2022
| | | | | | | | | | |
|---|---|---|---|---|---|---|---|---|---|
| · 2024 · 2023 · 2022 | |||||||||
| · · (dollars in thousands) | |||||||||
| | | | | | | | | | |
| Total interest income | | $13 | | $— | | $26 | |||
| Equity in net income of bank subsidiaries | | 140,197 | | 137,451 | | 128,941 | |||
| Equity in net income of nonbank subsidiaries | | 2,221 | | 2,220 | | 1,294 | |||
| Other | | 369 | | 704 | | (53) | |||
| Total income | | 142,800 | | 140,375 | | 130,208 | |||
| | | | | ||||||
| Interest expense | | 17,088 | | 16,066 | | 11,836 | |||
| Salaries and employee benefits | | 11,558 | | 9,940 | | 15,551 | |||
| Professional fees | | 539 | | 12 | | 1,789 | |||
| Acquisition costs | | — | | — | | 3,715 | |||
| Post-acquisition compensation, transition and integration costs | | — | | 207 | | 5,526 | |||
| Other | | 4,083 | | 3,744 | | 3,331 | |||
| Total expenses | | 33,268 | | 29,969 | | 41,748 | |||
| | | | | ||||||
| Income before income tax benefit | | 109,532 | | 110,406 | | 88,460 | |||
| | | | | ||||||
| Income tax benefit | | 4,318 | | 3,152 | | 10,606 | |||
| Net income | | $113,850 | | $113,558 | | $99,066 | |||
| | | | | | | | | | |
Note 20. Parent Company Only Financial Statements (continued)
Condensed Statements of Cash Flows**
**Years Ended December 31, 2024, 2023, and 2022
| | | | | | | | | | |
|---|---|---|---|---|---|---|---|---|---|
| · 2024 · 2023 · 2022 | |||||||||
| · · (dollars in thousands) | |||||||||
| Cash Flows from Operating Activities: · · · | |||||||||
| Net income | | $113,850 | | $113,558 | | $99,066 | |||
| Adjustments to reconcile net income to net cash provided by (used in) operating activities: | | | | ||||||
| Earnings of bank subsidiaries | | | (140,197) | | (137,451) | | (128,941) | ||
| Earnings of nonbank subsidiaries | | (2,221) | | (2,220) | | (1,294) | |||
| Distributions from bank subsidiaries | | — | | — | | 36,000 | |||
| Distributions from nonbank subsidiaries | | 129 | | 114 | | 40 | |||
| Deferred income taxes | | | 1,410 | | | (349) | | | (2,443) |
| Accretion of acquisition fair value adjustments | | 129 | | 129 | | 137 | |||
| Depreciation | | 603 | | 576 | | 477 | |||
| Deferred compensation expense accrued | | | 5,793 | | | 4,063 | | | 4,062 |
| Stock-based compensation expense | | 2,825 | | 2,678 | | 2,438 | |||
| Gain on sale of fixed assets | | | 54 | | | — | | | — |
| Decrease (increase) in other assets | | (794) | | (2,649) | | 621 | |||
| Increase in other liabilities | | 1,061 | | 9,062 | | 10,827 | |||
| Net cash provided by (used in) operating activities | | (17,358) | | (12,489) | | 20,990 | |||
| | | | | ||||||
| Cash Flows from Investing Activities: | | | | ||||||
| Net decrease in interest-bearing deposits at financial institutions | | — | | — | | 5,950 | |||
| Capital infusion, bank subsidiaries | | — | | (10,000) | | — | |||
| Capital infusion, non-bank subsidiaries | | | — | | | — | | | (300) |
| Net cash received in dissolution of subsidiary | | | — | | | 3,184 | | | — |
| Net cash paid for acquisitions | | — | | — | | (26,039) | |||
| Purchase of premises and equipment | | (4,775) | | (224) | | (1,484) | |||
| Net cash used in investing activities | | (4,775) | | (7,040) | | (21,873) | |||
| | | | | ||||||
| Cash Flows from Financing Activities: | | | | ||||||
| Proceeds from subordinated notes | | | — | | | — | | | 100,000 |
| Payment of cash dividends | | (4,032) | | (4,029) | | (3,944) | |||
| Proceeds from issuance of common stock, net | | 1,469 | | 1,403 | | 422 | |||
| Repurchase and cancellation of shares | | — | | (8,686) | | (52,954) | |||
| Net cash provided by (used in) financing activities | | (2,563) | | (11,312) | | 43,524 | |||
| | | | | ||||||
| Net increase (decrease) in cash and due from banks | | (24,696) | | (30,841) | | 42,641 | |||
| | | | | ||||||
| Cash and due from banks: | | | | ||||||
| Beginning | | 53,331 | | 84,172 | | 41,531 | |||
| Ending | | $28,635 | | $53,331 | | $84,172 | |||
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