Business
QCR Holdings, Inc. Announces Fourth Quarter Results and Record Net Income of $113.9 Million for the Full Year 2024
Fourth Quarter Highlights Net income of $30.2 million, or $1.77 per diluted shareAdjusted net income of $32.8 million, or $1.93 per diluted share (non-GAAP)
About this update from Qcr Holdings, Inc.
[{"type":"text","content":"Fourth Quarter Highlights Net income of $30.2 million, or $1.77 per diluted shareAdjusted net income of $32.8 million, or $1.93 per diluted share (non-GAAP) Record quarterly net interest income of $61.2 million Expanded NIM by 5 basis points and adjusted NIM (TEY) (non-GAAP) by 6 basis points to 3.40%Significant capital markets revenue of $20.6 million, including a $1.4 million gain on fourth securitizationTangible book value per share (non-GAAP) grew $1.21, or 10% annualizedTCE/TA ratio (non-GAAP) improved by 31 basis points to 9.55% Full Year Highlights Record annual net income of $113.9 million, or $6.71 per diluted shareRecord adjusted net income (non-GAAP) of $119.3 million, or $7.03 per diluted share (non-GAAP)Significant capital markets revenue of $71.1 millionRobust loan growth of 10% prior to loan securitizations and strong deposit growth of 8%Tangible book value per share (non-GAAP) increased $6.40, or 15%TCE/TA ratio (non-GAAP) improved by 80 basis points to 9.55% MOLINE, Ill., Jan. 22, 2025 (GLOBE NEWSWIRE) -- QCR Holdings, Inc. (NASDAQ: QCRH) (the “Company”) today announced quarterly net income of $30.2 million and diluted earnings per share (“EPS”) of $1.77 for the fourth quarter of 2024, compared to net income of $27.8 million and diluted EPS of $1.64 for the third quarter of 2024. For the full year, the Company reported record net income of $113.9 million, or $6.71 per diluted share. Adjusted net income (non-GAAP) and adjusted diluted EPS (non-GAAP) for the fourth quarter of 2024 were $32.8 million and $1.93, respectively. For the third quarter of 2024, adjusted net income (non-GAAP) was $30.3 million and adjusted diluted EPS (non-GAAP) was $1.78. For the fourth quarter of 2023, net income and diluted EPS were $32.9 million and $1.95, respectively, and adjusted net income (non-GAAP) and adjusted diluted EPS (non-GAAP) were $33.3 million and $1.97, respectively. Adjusted net income (non-GAAP) and adjusted diluted EPS (non-GAAP) for the full year of 2024 were $119.3 million and $7.03, respectively. For the Quarter Ended December 31,September 30,December 31,$ in millions (except per share data)202420242023Net Income$30.2 $27.8 $32.9 Diluted EPS$1.77 $1.64 $1.95 Adjusted Net Income (non-GAAP)*$32.8 $30.3 $33.3 Adjusted Diluted EPS (non-GAAP)*$1.93 $1.78 $1.97 *Adjusted non-GAAP measurements of financial performance e...