QCR Holdings Inc

NASDAQ:QCRHUnited States

Oct 23, 2024

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• -- Earnings Flash (QCRH) QCR HOLDINGS Posts Q3 EPS $1.78, from 4:20PM ET on Wednesday Oct 23, 2024 by MT Newswires

  4:20PM ET on Wednesday Oct 23, 2024 by MT Newswires
  Companies Mentioned: QCRH
  04:20 PM EDT, 10/23/2024 (MT Newswires) -- ...

• *DJ QCR Holdings 3Q EPS $1.64 >QCRH, from 4:05PM ET on Wednesday Oct 23, 2024 by Dow Jones

  4:05PM ET on Wednesday Oct 23, 2024 by Dow Jones
  Companies Mentioned: QCRH

• QCR Holdings, Inc. Announces Net Income of $27.8 Million for the Third Quarter of 2024, from 4:05PM ET on Wednesday Oct 23, 2024 by Dow Jones

  4:05PM ET on Wednesday Oct 23, 2024 by Dow Jones
  Companies Mentioned: QCRH
  (Non-GAAP) 3.37% 3.27% 3.25% 3.32% 3.31% 3.30% 3.37% Adjusted net interest margin (TEY) (Non-GAAP) 3.34% 3.26% 3.24% 3.29% 3.28% 3.28% 3.34% EFFICIENCY RATIO (5) --------------------------- Noninterest expense (GAAP) $ 53,565 $ 49,888 $ 50,690 $ 60,938 $ 51,081 $ 154,143 $ 149,593 Net interest income (GAAP) $ 59,722 $ 56,163 $ 54,699 $ 55,736 $ 55,255 $ 170,584 $ 165,270 Noninterest income (GAAP) 27,157 30,889 26,858 47,729 26,593 84,904 84,955 ---------- ---------- ---------- ---------- ---------- ---------- ---------- Total income $ 86,879 $ 87,052 $ 81,557 $ 103,465 $ 81,848 $ 255,488 $ 250,225 Efficiency ratio (noninterest expense/total income) (Non-GAAP) 61.65% 57.31% 62.15% 58.90% 62.41% 60.33% 59.78% Adjusted efficiency ratio (core noninterest expense/core total income) (Non-GAAP) 58.45% 57.19% 62.01% 58.57% 62.15% 59.16% 59.43% (1) Adjusted net income, adjusted earnings per common share, adjusted return on average assets and average equity are non-GAAP financial measures. The Company's management believes that these measurements are important to investors as they exclude non-core or non-recurring income and expense items, therefore, they provide a more realistic run-rate for future periods. In compliance with applicable rules of the SEC, these non-GAAP measures are reconciled to net income, which is the most directly comparable GAAP financial measure. (2) Non-core or non-recurring items (post-tax) are calculated using an estimated effective federal tax rate of 21% with the exception of goodwill impairment which is not deductible for tax. (3) Interest earned and yields on nontaxable securities and loans are determined on a tax equivalent basis using a 21% effective federal tax rate. (4) Net interest margin (TEY) is a non-GAAP financial measure. The Company's management utilizes this measurement to take into account the tax benefit associated with certain loans and securities. It is also standard industry practice to measure net interest margin using tax-equivalent measures. In compliance with applicable rules of the SEC, this non-GAAP measure is reconciled to net interest income, which is the most directly comparable GAAP financial measure. In addition, the Company calculates net interest margin without the impact of acquisition accounting net accretion as this can fluctuate and it's difficult to provide a more realistic run-rate for future periods. (5) Efficiency ratio is a non-GAAP measure. The Company's management utilizes this ratio to compare to industry peers. The ratio is used to calculate overhead as a percentage of revenue. In compliance with the applicable rules of the SEC, this non-GAAP measure is reconciled to noninterest expense, net interest income and noninterest income, which are the most directly comparable GAAP financial measures.