QCR HOLDINGS INC

For the period ended Dec 31, 2024. Filed Feb 28, 2025.

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FY2024 · Filed Feb 28, 2025

QCRH$103.26+2.4%Stored close · as of Nov 9, 2026

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Contents

● Note 22: Business Segment Information

Selected financial and descriptive information is required to be disclosed for reportable operating segments, applying a “management perspective” as the basis for identifying reportable segments. The management perspective is determined by the view that management takes of the segments within the Company when making operating decisions, allocating resources, and measuring performance. The segments of the Company have been defined by the structure of the Company’s internal organization, focusing on the financial information that the Company’s operating decision-makers routinely use to make decisions about operating matters. The chief operating decision maker consists of the Chief Executive Officer and President/Chief Financial Officer of the Company. The chief operating decision maker reviews financial reports that detail the interest income, interest expense, provision for credit losses, noninterest income, salaries and benefits expense, occupancy expense, other noninterest expenses, income tax expense and net income from continuing operations and compares the actual results to the amounts budgeted and the reason for variances. The results of this review allow the Company’s chief operating decision maker to make operating decisions and allocate resources. Capital markets revenue is considered a significant source of noninterest income. Salaries and benefits expense and occupancy expense are considered significant noninterest expenses.

The Company’s Commercial Banking business is geographically divided by markets into the operating segments which are thefour subsidiary banks wholly-owned by the Company: QCBT, CRBT, CSB and GB. Each of these operating segments offer similar products and services, but are managed separately due to different pricing, product demand, and consumer markets. Each offers commercial, consumer, and mortgage loans and deposit services.

The Company's All Other segment includes the corporate operations of the parent and operations of all other consolidated subsidiaries and/or defined operating segments that fall below the segment reporting thresholds.

N****ote 22. Business Segment Information (continued)

Selected financial information on the Company’s business segments is presented as follows as of and for the years ended December 31, 2024, 2023, and 2022:


· · Commercial Banking · · · · Intercompany · · Consolidated
· QCBT · CRBT · CSB · GB · All other · Eliminations · Total
· · (dollars in thousands)
Year Ended December 31, 2024 · · · · · · · ·
Interest and dividend income	$148,530	$126,316	$80,650	$126,977	$294	$(910)	$481,857
Interest expense	76,027	54,476	34,762	70,143	17,088	(2,427)	250,069
Net interest income	72,503	71,840	45,888	56,834	(16,794)	1,517	231,788
Provision for credit losses	10,460	5,365	(154)	1,427	—	—	17,098
Noninterest income
Capital markets revenue	270	62,418	—	8,369	—	—	71,057
Other segment revenue items	19,115	10,666	5,603	10,326	145,001	(146,239)	44,472
Total noninterest income	19,385	73,084	5,603	18,695	145,001	(146,239)	115,529
Noninterest expense
Salaries and benefits expense	32,062	36,521	18,403	29,642	11,558	—	128,186
Occupancy expense	5,963	6,221	4,577	6,700	1,952	—	25,413
Other segment expense items	18,954	14,373	8,480	11,651	3,004	(2,419)	54,043
Total noninterest expense	56,979	57,115	31,460	47,993	16,514	(2,419)	207,642
Income tax expense	2,019	10,383	619	(30)	(4,264)	—	8,727
Net income (loss) from continuing operations	$22,430	$72,061	$19,566	$26,139	$115,957	$(142,303)	$113,850

Goodwill	$2,791	$14,980	$9,888	$110,936	$—	$—	$138,595
Intangibles	—	628	865	9,568	—	—	11,061
Total assets	2,588,587	2,614,570	1,531,559	2,342,958	1,332,834	(1,384,478)	9,026,030

Year Ended December 31, 2023
Interest and dividend income	$128,280	$108,113	$68,069	$110,130	$181	$(1,363)	$413,410
Interest expense	60,379	40,700	24,413	53,464	16,066	(2,618)	192,404
Net interest income	67,901	67,413	43,656	56,666	(15,885)	1,255	221,006
Provision for credit losses	12,512	2,139	1,248	640	—	—	16,539
Noninterest income
Capital markets revenue	246	82,593	—	9,226	—	—	92,065
Other segment revenue items	16,849	10,587	5,184	8,682	142,427	(143,110)	40,619
Total noninterest income	17,095	93,180	5,184	17,908	142,427	(143,110)	132,684
Noninterest expense
Salaries and benefits expense	28,470	51,733	16,749	29,727	9,940	—	136,619
Occupancy expense	5,627	6,029	4,489	7,108	1,778	—	25,031
Other segment expense items	14,693	14,457	7,997	11,749	2,284	(2,299)	48,881
Total noninterest expense	48,790	72,219	29,235	48,584	14,002	(2,299)	210,531
Income tax expense	1,927	13,857	330	71	(3,123)	—	13,062
Net income (loss) from continuing operations	$21,767	$72,378	$18,027	$25,279	$115,663	$(139,556)	$113,558

Goodwill	$3,223	$14,980	$9,888	$110,936	$—	$—	$139,027
Intangibles	—	883	1,430	11,508	—	—	13,821
Total assets	2,448,957	2,419,146	1,426,202	2,281,296	1,213,954	(1,250,661)	8,538,894


Year Ended December 31, 2022
Interest and dividend income	$88,195	$75,411	$48,604	$79,266	$58	$1,037	$292,571
Interest expense	16,591	10,019	7,824	15,532	11,835	(350)	61,451
Net interest income	71,604	65,392	40,780	63,734	(11,777)	1,387	231,120
Provision for loan/lease losses	1,073	(961)	(1,336)	9,508	—	—	8,284
Noninterest income
Capital markets revenue	479	38,772	144	1,914	—	—	41,309
Other segment revenue items	14,946	13,887	5,381	6,700	131,865	(133,359)	39,420
Total noninterest income	15,425	52,659	5,525	8,614	131,865	(133,359)	80,729
Noninterest expense
Salaries and benefits expense	27,895	36,339	16,180	19,403	15,551	—	115,368
Occupancy expense	4,953	5,376	4,513	5,447	1,686	—	21,975
Other segment expense items	12,148	12,537	7,961	8,606	13,215	(1,794)	52,673
Total noninterest expense	44,996	54,252	28,654	33,456	30,452	(1,794)	190,016
Income tax expense	7,110	11,185	1,762	5,094	(10,668)	—	14,483
Net income (loss) from continuing operations	$33,850	$53,575	$17,225	$24,290	$100,304	$(130,178)	$99,066

Goodwill	$3,223	$14,980	$9,888	$109,516	$—	$—	$137,607
Intangibles	—	1,225	2,027	13,507	—	—	16,759
Total assets	2,312,012	2,185,500	1,297,812	2,146,474	1,086,351	(1,079,312)	7,948,837

N****ote 22. Business Segment Information (continued)

Intercompany eliminations included in the selected financial information on the Company’s business segments consist of equity in net income of each subsidiary bank and investment in each subsidiary bank as follows:


· · Commercial Banking ·
· · QCBT · CRBT · CSB · GB · Total ·
· · (dollars in thousands) ·
Year Ended December 31, 2024
Other segment revenue items:
Equity in net income of subsidiary bank	$22,430	$72,061	$19,566	$26,140	$140,197
Total assets:
Investment in subsidiary bank	280,945	423,857	173,133	381,636	1,259,571

Year Ended December 31, 2023
Other segment revenue items:
Equity in net income of subsidiary bank	$21,766	$72,378	$18,027	$25,280	$137,451
Total assets:
Investment in subsidiary bank	$260,160	353,299	153,838	355,506	1,122,803

Year Ended December 31, 2022
Other segment revenue items:
Equity in net income of subsidiary bank	$33,850	$53,576	$17,225	$24,289	$128,940
Total assets:
Investment in subsidiary bank	238,631	277,812	122,826	326,704	965,973

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