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.
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QCR Holdings, Inc. announced strong financial results for the first quarter of 2023, reporting a net income of $27.2 million and diluted earnings per share of $1.60. Adjusted net income reached $28.0 million with adjusted diluted EPS at $1.65. Capital Markets Revenue from swap fees increased by 50% to $17.0 million. The company's core deposits grew by 1.4%, and they maintained a strong liquidity position with approximately $1.5 billion available. The tangible book value per share rose 5.1%, and the total risk-based capital ratio stood at 14.50%. However, net interest income fell to $56.8 million, down from $65.2 million in the previous quarter.