QCR HOLDINGS INC

For the period ended Mar 31, 2025. Filed May 9, 2025.

About 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.

Mar 31, 2025 · Filed May 9, 2025

QCRH$102.99-0.3%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits

Contents

GAAP to Non-GAAP Reconciliations

The following table presents certain non-GAAP financial measures related to the “TCE/TA ratio,” “adjusted net income,” “adjusted EPS,” “adjusted ROAA,” “NIM (TEY),” “adjusted NIM (TEY),” “efficiency ratio,” and “adjusted efficiency ratio.” In compliance with applicable rules of the SEC, all non-GAAP measures are reconciled to the most directly comparable GAAP measure, as follows:

●	TCE/TA ratio (non-GAAP) is reconciled to stockholders’ equity and total assets;

●	Adjusted net income, adjusted EPS and adjusted ROAA (all non-GAAP measures) are reconciled to net income;

●	NIM (TEY) (non-GAAP) and adjusted NIM (TEY) (non-GAAP) are reconciled to NIM; and

●	Efficiency ratio (non-GAAP) and adjusted efficiency ratio (non-GAAP) are reconciled to noninterest expense, net interest income and noninterest income.

The TCE/TA non-GAAP ratio has been a focus for investors, and management believes that this ratio may assist investors in analyzing the Company’s capital position without regard to the effects of intangible assets.

The following tables also include several “adjusted” non-GAAP measurements of financial performance. The Company’s management believes that these measures are important to investors as they exclude non-core or non-recurring income and expense items; therefore, they provide a better comparison for analysis and may provide a better indicator of future performance.

NIM (TEY) is a financial measure that the Company’s management utilizes to determine the tax benefit associated with certain tax-exempt loans and securities. It is standard industry practice to measure net interest margin using tax-equivalent measures. In addition, the Company calculates NIM without the impact of acquisition accounting net accretion (adjusted NIM), as accretion amounts can fluctuate widely, making comparisons difficult.

The efficiency ratio and adjusted efficiency ratio are utilized by management to compare the Company to its peers. They are standard ratios used to calculate overhead as a percentage of revenue in the banking industry and is widely utilized by investors.

Non-GAAP financial measures have inherent limitations, are not required to be uniformly applied, and are not audited. Although these non-GAAP financial measures are frequently used by investors to evaluate a company, they have limitations as analytical tools and should not be considered in isolation, or as a substitute for analyses of results as reported under GAAP.


· · As of · · · · ·
GAAP TO NON-GAAP · March 31, · December 31, · March 31, · · · · · ·
RECONCILIATIONS · · 2025 · · 2024 · · 2024 · · · · · ·
· (dollars in thousands, except per share data) · · · · · ·
TCE/TA RATIO · · · · · · · · · · · ·
Stockholders' equity (GAAP)	$1,022,747	$997,387	$907,342
Less: Intangible assets	148,995	149,657	152,158
TCE (non-GAAP)	$873,752	$847,730	$755,184

Total assets (GAAP)	$9,152,779	$9,026,030	$8,599,549
Less: Intangible assets	148,995	149,657	152,158
TA (non-GAAP)	$9,003,784	$8,876,373	$8,447,391

TCE/TA ratio (non-GAAP)	9.70%	9.55%	8.94%

Part I

Item 2


· · For the Quarter Ended · · ·
· · March 31, · December 31, · March 31, · ·
· 2025 · 2024 · 2024 · ·
			(dollars in thousands, except per share data)
ADJUSTED NET INCOME
Net income (GAAP)	$25,797	$30,225		$26,726
Less non-core items (post-tax) (*):
Income:
Fair value gain (loss) on derivatives, net	(156)	(2,594)		(129)
Total non-core income (non-GAAP)	$(156)	$(2,594)		$(129)


Adjusted net income (non-GAAP)	$25,953	$32,819		$26,855

ADJUSTED EPS
Adjusted net income (non-GAAP) (from above)	$25,953	$32,819		$26,855

Weighted average common shares outstanding	16,900,785	16,871,652		16,783,348
Weighted average common and common equivalent shares outstanding	17,013,992	17,024,481		16,910,675

Adjusted EPS (non-GAAP):
Basic	$1.54	$1.95		$1.60
Diluted	$1.53	$1.93		$1.59

ADJUSTED ROAA (non-GAAP)
Adjusted net income (non-GAAP) (from above)	$25,953	$32,819		$26,855

Average Assets	$9,015,439	$9,050,280		$8,550,855

Adjusted ROAA (non-GAAP)	1.15%	1.45%		1.26%
Adjusted ROAE (non-GAAP)	10.20%	13.19%		11.89%

ADJUSTED NIM (TEY)*
Net interest income (GAAP)	$59,986	$61,204		$54,699
Plus: Tax equivalent adjustment	9,513	9,698		8,377
Net interest income - tax equivalent (non-GAAP)	$69,499	$70,902		$63,076
Less: Acquisition accounting net accretion	184	471		363
Adjusted net interest income	$69,315	$70,431		$62,713

Average earning assets	$8,241,035	$8,241,190		$7,807,720

NIM (GAAP)	2.95%	2.95%		2.82%
NIM (TEY) (non-GAAP)	3.42%	3.43%		3.25%
Adjusted NIM (TEY) (non-GAAP)	3.41%	3.40%		3.24%

EFFICIENCY RATIO
Noninterest expense (GAAP)	$46,539	$53,499		$50,690

Net interest income (GAAP)	$59,986	$61,204		$54,699
Noninterest income (GAAP)	16,892	30,625		26,858
Total income	$76,878	$91,829		$81,557

Efficiency ratio (noninterest expense/total income) (non-GAAP)	60.54%	58.26%		62.15%
Adjusted efficiency ratio (core noninterest expense/core total income) (Non-GAAP)	60.38%	56.25%		62.01%

Non-core or non-recurring items (after-tax) are calculated using an estimated effective federal tax rate of 21% with the exception of goodwill impairment which is not deductible for tax.

Part I

Item 2

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.