Business
QCR Holdings, Inc. Announces Net Income of $30.9 Million for the Fourth Quarter and Record Net Income of $99.1 Million for the Full Year 2022
Fourth Quarter Highlights Fourth quarter net income of $30.9 million, or $1.81 per diluted shareAdjusted fourth quarter net income (non-GAAP) of $31.1
About this update from Qcr Holdings, Inc.
[{"type":"text","content":"Fourth Quarter Highlights Fourth quarter net income of $30.9 million, or $1.81 per diluted shareAdjusted fourth quarter net income (non-GAAP) of $31.1 million, or $1.83 per diluted shareRecord quarterly net interest income of $65.2 millionNet Interest Margin (“NIM”) of 3.62% and NIM (TEY)(non-GAAP) of 3.93% Nonperforming assets improved by 51% and represent 0.11% of total assetsIncreased TCE/TA ratio (non-GAAP) to 7.93% and total risk-based capital to 14.47% Full Year 2022 Highlights Annual net income of $99.1 million, or $5.87 per diluted shareRecord adjusted net income (non-GAAP) of $114.9 million, or $6.80 per diluted share, an increase of 14.8% and 8.5%, respectively, excluding one-time expenses associated with the Guaranty Bank acquisitionFull year loan and lease growth of 14.6%, excluding PPP and Guaranty Bank acquired loans (non-GAAP) MOLINE, Ill., Jan. 24, 2023 (GLOBE NEWSWIRE) -- QCR Holdings, Inc. (NASDAQ: QCRH) (the “Company”) today announced net income of $30.9 million and diluted earnings per share (“EPS”) of $1.81 for the fourth quarter of 2022, compared to net income of $29.3 million and diluted EPS of $1.71 for the third quarter of 2022. For the full year, the Company reported net income of $99.1 million, or $5.87 per diluted share. Adjusted net income (non-GAAP) and adjusted diluted EPS (non-GAAP) for the fourth quarter of 2022 were $31.1 million and $1.83, respectively. For the third quarter of 2022, adjusted net income (non-GAAP) was $28.9 million and adjusted diluted EPS (non-GAAP) was $1.69. For the fourth quarter of 2021, net income and diluted EPS were $27.0 million and $1.71, respectively, and adjusted net income (non-GAAP) and adjusted diluted EPS (non-GAAP) were $27.4 million and $1.73, respectively. For the Quarter Ended December 31,September 30,December 31, $ in millions (except per share data)202220222021 Net Income$30.9$29.3$27.0 Diluted EPS$1.81$1.71$1.71 Adjusted Net Income (non-GAAP)*$31.1$28.9$27.4 Adjusted Diluted EPS (non-GAAP)*$1.83$1.69$1.73 *Adjusted non-GAAP measurements of financial performance exclude non-core and/or nonrecurring 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 comparison for analysis and may provide a better indicator of future perf...