Welcome to our dedicated page for Qcr Holdings news (Ticker: QCRH), a resource for investors and traders seeking the latest updates and insights on Qcr Holdings stock.
QCR Holdings, Inc. reports recurring developments as a relationship-driven multi-bank holding company serving Midwestern markets through wholly owned subsidiary banks. Its updates center on commercial and consumer banking, trust and wealth management services, loan and deposit growth, net interest income, noninterest income, capital markets revenue, and balance-sheet management across its bank network.
Company news also includes quarterly and annual financial results, conference-call announcements, cash dividend declarations, share repurchases, credit-rating activity, and capital-management actions. QCRH disclosures frequently reference Quad City Bank & Trust, Cedar Rapids Bank & Trust, Community State Bank, Guaranty Bank, Community Bank & Trust, low-income housing tax credit financing, and m2 Equipment Finance portfolio runoff.
QCR Holdings reported net income of $13.7 million, or $0.86 per diluted share, for Q2 2020, improving from $11.2 million and $0.70 per share in Q1. Adjusted net income rose to $14.0 million ($0.88 per share). Noninterest income surged to $28.6 million, driven by record swap fee income of $19.9 million. The company's pre-provision, pre-tax adjusted net income reached a record $36.8 million, with a stable net interest margin (NIM) of 3.14%. However, provision expense increased to $19.9 million due to COVID-19 related concerns, raising the allowance for loan losses to 1.47%.
QCR Holdings, Inc. (NASDAQ: QCRH) will release its second quarter earnings results for the period ending June 30, 2020, after market close on July 27, 2020. A conference call is scheduled for July 28, 2020, at 10:00 a.m. Central Time to discuss these results. Shareholders and interested parties can join the call via dial-in or webcast. The company, headquartered in Moline, Illinois, operates multiple banks in the Midwest, managing approximately $5.2 billion in assets and offering full-service banking and wealth management.
On May 20, 2020, QCR Holdings (NASDAQ: QCRH) elected four Class III directors during its annual stockholder meeting. Re-elected were James M. Field, Timothy B. O’Reilly, and Marie Z. Ziegler. New independent director Elizabeth “Libby” S. Jacobs was elected, bringing her diverse expertise in business and public policy. Additionally, the board declared a cash dividend of $0.06 per share, payable on July 8, 2020, to stockholders of record as of June 19, 2020. As of March 31, 2020, QCR Holdings reported approximately $5.2 billion in assets.