QCR Holdings, Inc. (QCRH) Q4 2021 Earnings Call

Investor webinar replay

Replay transcript excerpt

good day and welcome to the qcr holdings incorporated fourth quarter 2021 financial results conference call all participants will be in a listen only mode should you need assistance please signal conference specialist by pressing the star key followed by zero after today's presentation there will be an opportunity to ask questions to ask a question you may press star then one on your telephone keypad and to withdraw your question please press star then two please note this event is being recorded I would now like to turn the conference over to Mr. Larry Helling, CEO. Please go ahead, sir. Thank you, operator. Welcome, ladies and gentlemen, and thank you for taking the time to join us today. I will start the call with a brief discussion regarding our full year performance. Todd will follow with additional details on our financial results for the fourth quarter. We are very pleased with our financial performance in the fourth quarter and for the full year. highlighted by record net income and earnings per share. Our 2021 record results were driven by robust loan growth and expanded net interest margin, solid fee income, carefully managed expenses, and excellent credit quality. Our adjusted net income increased 58% for the year and diluted EPS by 63%. We grew our tangible book value per share by nearly $6 to just over $38 per share, representing 18% year-over-year growth. Additionally, we strengthened our capital ratios in 2021 with our tangible common equity to tangible assets ratio, improving by 82 basis points to 9.87% at year-end. We experienced healthy demand from our client base and grew loans by nearly 17% when excluding PPP loans. We capitalized on strengthening economic conditions in our markets and continue to gain market share across our charters. Our clients...