Business
QCR Holdings, Inc. Announces Net Income of $27.0 Million for the Fourth Quarter and Record Net Income of $98.9 Million for the Full Year 2021
Fourth Quarter and Full Year 2021 Highlights Record annual net income of $98.9 million, or $6.20 per diluted shareQuarterly net income of $27.0 million, or
About this update from Qcr Holdings, Inc.
[{"type":"text","content":"Fourth Quarter and Full Year 2021 Highlights Record annual net income of $98.9 million, or $6.20 per diluted shareQuarterly net income of $27.0 million, or $1.71 per diluted shareAdjusted quarterly net income (non-GAAP) of $27.4 million, or $1.73 per diluted shareRecord adjusted quarterly net interest income (non-GAAP) of $49.2 million, a 6.1% annualized increase compared to the third quarter of 2021Net Interest Margin (“NIM”) of 3.29% and Adjusted NIM (TEY)(non-GAAP) of 3.49% for the quarterLoan and lease growth of 12.0% (annualized) for the quarter and 16.9% for the full year, excluding SBA Paycheck Protection Program (“PPP”) loans (non-GAAP)Annualized core deposit growth of 4.3% for the quarter and 7.2% for the full yearNonperforming assets improved by 60% for the quarter and 80% for the full year and now represent only 0.05% of total assetsAllowance for credit losses (“ACL”) to total loans/leases of 1.69%, excluding PPP loans (non-GAAP) MOLINE, Ill., Jan. 25, 2022 (GLOBE NEWSWIRE) -- QCR Holdings, Inc. (NASDAQ: QCRH) (the “Company”) today announced net income of $27.0 million and diluted earnings per share (“EPS”) of $1.71 for the fourth quarter of 2021, compared to net income of $31.6 million and diluted EPS of $1.99 for the third quarter of 2021. For the full year, the Company reported record net income of $98.9 million, or $6.20 per diluted share. The Company reported adjusted net income (non-GAAP) of $27.4 million and adjusted diluted EPS of $1.73 for the fourth quarter of 2021, compared to adjusted net income (non-GAAP) of $31.6 million and adjusted diluted EPS of $1.99 for the third quarter of 2021. For the fourth quarter of 2020, net income and diluted EPS were $18.3 million and $1.14, respectively, and adjusted net income (non-GAAP) and adjusted diluted EPS were $19.1 million and $1.20, respectively. For the Quarter Ended December 31,September 30,December 31,$ in millions (except per share data)202120212020Net Income$27.0$31.6$18.3Diluted EPS$1.71$1.99$1.14Adjusted Net Income (non-GAAP)$27.4$31.6$19.1Adjusted Diluted EPS (non-GAAP)$1.73$1.99$1.20 Adjusted non-GAAP measurements of financial performance exclude non-recurring income and expense items that management believes are not reflective of the anticipated future operation of the Company’s business. The Company believes these measurements provide a better comparis...