QCR Holdings: Fourth Quarter Financial Highlights
QCR Holdings, Inc. (QCRH) recently reported its financial results for the fourth quarter of 2024. The company’s net income came in at an impressive $30.2 million, translating to $1.77 per diluted share. This represents a notable improvement from the third quarter’s net income of $27.8 million, or $1.64 per diluted share.
Key Financial Metrics
The fourth quarter also brought significant gains in other financial areas. QCR Holdings reported record net interest income of $61.2 million. The net interest margin (NIM) expanded by 5 basis points to 3.40%, while the adjusted net interest margin (TEY) (non-GAAP) improved by 6 basis points.
Capital markets revenue totaled $20.6 million for the quarter, which included a $1.4 million gain on the fourth securitization. Tangible book value per share grew by $1.21, marking a 10% annualized increase.
Full Year Performance
Over the course of the year, QCR Holdings achieved record annual net income of $113.9 million, equivalent to $6.71 per diluted share. Adjusted net income (non-GAAP) reached $119.3 million, or $7.03 per diluted share. Capital markets revenue totaled $71.1 million for the year.
Robust loan growth of 10%, prior to loan securitizations, and strong deposit growth of 8% were other significant accomplishments for the year. Tangible book value per share increased by $6.40, representing a 15% annualized growth.
Impact on Individuals
For individual investors, QCR Holdings’ strong financial performance in the fourth quarter and throughout 2024 could translate into capital appreciation and potential dividend income. As a shareholder, you may benefit from the company’s continued growth and financial strength.
Impact on the World
On a broader scale, QCR Holdings’ success could have positive implications for the banking sector and the economy as a whole. A financially robust company like QCRH can contribute to economic stability by providing loans to businesses and individuals, facilitating economic growth.
Moreover, the company’s achievements in capital markets revenue and net interest margins could set a positive trend for other financial institutions, potentially leading to increased competition and innovation in the banking sector.
Conclusion
In summary, QCR Holdings’ fourth quarter and full-year financial results demonstrate impressive growth and financial strength. Shareholders may benefit from the company’s capital appreciation and potential dividend income. Additionally, the banking sector and the economy could potentially experience positive effects from QCRH’s success, including increased competition and economic growth.
- QCR Holdings reported net income of $30.2 million and diluted EPS of $1.77 for the fourth quarter of 2024.
- Record net interest income of $61.2 million and expanded NIM and adjusted NIM (TEY) to 3.40%.
- Capital markets revenue of $20.6 million and significant tangible book value per share growth of $1.21.
- Record annual net income of $113.9 million and adjusted net income of $119.3 million.
- Robust loan and deposit growth and improved TCE/TA ratio of 9.55%.
- Individual investors may benefit from capital appreciation and potential dividend income.
- Positive implications for the banking sector and economy due to QCRH’s financial strength.
