QCR HOLDINGS INC
For the period ended Mar 31, 2025. Filed May 9, 2025.
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.
Mar 31, 2025 · Filed May 9, 2025
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Income Taxes
In the first quarter of 2025, the Company incurred income tax expense of $308 thousand, compared to income tax expense of $1.2 million in the same period of the prior year. The effective tax rate for the first quarter of 2025 was exceptionally low at 1%, down from 4% in the first quarter of 2024. The decline was primarily due to a combination of the tax benefits from equity compensation in the first quarter of 2025, new state tax credit investments, and lower pre-tax income from
Part I
Item 2
lower capital markets revenue. Given a more normalized mix of revenue, the Company expects its effective tax rate to increase in the second quarter of 2025.
Refer to the reconciliation of the expected income tax rate to the effective tax rate that is included in Note 6 to the Consolidated Financial Statements for additional detail.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.