QCR HOLDINGS INC

For the period ended Jun 30, 2025. Filed Aug 8, 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.

Jun 30, 2025 · Filed Aug 8, 2025

QCRH$100.85-0.3%Stored close · as of Nov 6, 2026

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

See the whole filing, with its images and exhibits

Contents

Executive Overview

The Company reported net income of $29.0 million and diluted EPS of $1.71 for the quarter ended June 30, 2025. By comparison, for the quarter ended March 31, 2025, the Company reported net income of $25.8 million and diluted EPS of $1.52. For the quarter ended June 30, 2024, the Company reported net income of $29.1 million, and diluted EPS of $1.72. For the six months ended June 30, 2025, the Company reported net income of $54.8 million and diluted EPS of $3.22. By comparison, for the six months ended June 30, 2024 the Company reported net income of $55.8 million and diluted EPS of $3.30.

Part I

Item 2

The second quarter of 2025 was also highlighted by the following results and events (see section titled “GAAP to Non-GAAP Reconciliations” for additional information):

●	Adjusted net income (non-GAAP) of $29.4 million or $1.73 per diluted share;

●	NIM (TEY) (non-GAAP) expanded 4 basis points to 3.46%;

●	Adjusted ROAA (non-GAAP) of 1.29% annualized;

●	Capital markets revenue growth of 51% on a linked-quarter basis;

●	Nonperforming assets declined $5.5 million, or 11%;

●	Tangible book value per share (non-GAAP) grew $1.64, or 13% annualized; and

●	TCE/TA ratio (non-GAAP) improved 22 basis points to 9.92%.

Following is a table that represents various net income measurements for the Company:


· · For the three months ended · · For the six months ended ·
· June 30, 2025 · March 31, 2025 · June 30, 2024 · June 30, 2025 · June 30, 2024 ·
· · (dollars in thousands) ·

Net income	$29,019	$25,797	$29,114	$54,816	$55,840

Diluted earnings per common share	$1.71	$1.52	$1.72	$3.22	$3.30

Weighted average common and common equivalent shares outstanding	17,006,282	17,013,992	16,921,854	17,010,136	16,916,264

The Company reported adjusted net income (non-GAAP) of $29.4 million, with adjusted diluted EPS (non-GAAP) of $1.73 for the three months ended June 30, 2025. See section titled “GAAP to Non-GAAP Reconciliations” for additional information. The Company reported adjusted net income (non-GAAP) of $55.4 million, with adjusted diluted EPS (non-GAAP) of $3.26 for the six months ended June 30, 2025. See section titled “GAAP to Non-GAAP Reconciliations” for additional information. Adjusted net income (non-GAAP) for the three and six months ended June 30, 2025 excludes a number of non-core or non-recurring items, after-tax, as set forth in the GAAP to Non-GAAP Reconciliation section.

Following is a table that represents the major income and expense categories for the Company:


· · For the three months ended · · For the six months ended ·
· June 30, 2025 · March 31, 2025 · June 30, 2024 · June 30, 2025 · June 30, 2024
· · (dollars in thousands) ·

Net interest income	$62,082	$59,986	$56,163	$122,068	$110,862
Provision for credit losses	4,043	4,234	5,496	8,277	8,465
Noninterest income	22,115	16,892	30,889	39,007	57,747
Noninterest expense	49,583	46,539	49,888	96,122	100,578
Federal and state income tax expense	1,552	308	2,554	1,860	3,726
Net income	$29,019	$25,797	$29,114	$54,816	$55,840

Following are certain noteworthy developments in the Company's financial results for the quarter ended June 30, 2025:

●

Net interest income in the second quarter of 2025 increased 3% compared to the first quarter of 2025 and increased 11% compared to the second quarter of 2024 due to higher average earning assets and higher investment yields. Net interest income increased 10% when comparing the first six months of 2025 to the same period of the prior year. The increase was primarily due to higher average earning assets and higher investment securities yields and a decrease in the cost of interest-bearing deposits.

●	Provision for credit losses in the second quarter of 2025 decreased $191 thousand compared to the first quarter of 2025. The decrease was primarily due to lower loan growth. Provision expense decreased $1.5 million

Part I

Item 2

compared to the second quarter of 2024. The decrease was primarily due to lower loan growth and a decrease in criticized loans. Provision expense in the first six months of 2025 decreased $188 thousand compared to the first six months of 2024. The decrease was due to a decrease in criticized loans. See the “Provision for Credit Losses” section of this report for additional details.

●

Noninterest income in the second quarter of 2025 increased $5.2 million, or 31%, compared to the first quarter of 2025. The increase was primarily due to higher capital markets revenue from swap fees as clients adjusted to the current environment. Noninterest income in the second quarter of 2025 decreased $8.8 million, or 28%, compared to the second quarter of 2024 and noninterest income decreased $18.7 million, or 32%, when comparing the first six months of 2025 to the same period of the prior year. The decreases were primarily due to a decrease in capital markets revenue. Capital markets revenue in the first six months of 2025 was affected by macroeconomic and governmental uncertainty. Despite this, sustained, long-term demand for affordable housing remains strong. The demand for low-income housing remains healthy and the economics associated with these tax credit projects continue to be favorable. The Company has a strong pipeline for this business that continues to improve as clients adapt to evolving market conditions. The Company expects its capital markets revenue will normalize to historical levels over the next four quarters and continue to be a solid source of fee income.

●

Noninterest expense in the second quarter of 2025 increased $3.0 million, or 7%, compared to the first quarter of 2025. The increase was primarily due to higher capital markets revenue and its impact on variable compensation as well as higher professional fees related to the Company’s digital transformation. Noninterest expense decreased $305 thousand, or 1%, compared to the second quarter of 2024. Noninterest expense decreased $4.5 million, or 4%, when comparing the first six months of 2025 to the same period in the prior year. These decreases were primarily due to lower capital markets revenue and its impact on variable compensation.

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.