QCR HOLDINGS INC QCRH Income Statement

Qcr holdings inc (QCRH)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Sep'10	Jun'10
Interest and dividend income:
Loans/leases, including fees
43,159	46,835	50,406	47,515	45,568	46,504	44,034	35,408	34,214	32,893	29,245	28,114	27,211	28,295	23,001	20,238	19,700	19,086	19,278	18,245	18,004	18,043	17,735	16,868	16,775	-	-	16,369	15,088	-	-	15,973	15,970	16,341	16,215	16,515	15,734	16,710	17,100
Securities:
Taxable
1,727	1,581	1,682	1,678	1,666	1,681	1,522	1,594	1,556	1,374	1,367	1,260	1,142	979	1,057	1,192	1,356	1,454	1,639	1,735	1,942	2,134	2,327	2,573	2,582	-	-	2,629	2,460	-	-	2,765	2,805	2,842	2,877	2,821	2,336	2,595	2,713
Nontaxable
3,459	3,396	3,443	3,474	3,545	3,567	3,517	3,295	3,289	3,054	2,862	2,688	2,647	2,658	2,510	2,276	2,242	2,139	2,021	1,890	1,730	1,640	1,531	1,448	1,454	-	-	944	802	-	-	538	395	239	244	259	239	224	227
Interest-bearing deposits at financial institutions
361	868	951	1,168	923	518	324	228	197	314	141	219	198	167	103	62	60	96	66	64	77	71	66	71	90	-	-	61	59	-	-	92	120	93	97	102	111	55	146
Restricted investment securities
258	284	293	290	307	318	329	212	234	195	172	131	130	125	132	133	130	126	127	108	142	132	128	139	128	-	-	131	125	-	-	164	81	129	126	137	163	116	107
Federal funds sold
18	12	42	56	93	115	105	62	56	44	52	38	14	9	12	10	12	6	7	6	4	6	7	3	3	-	-	2	0	-	-	-	-	-5	7	23	66	38	63
Total interest and dividend income
48,982	52,976	56,817	54,181	52,102	52,703	49,831	40,799	39,546	37,877	33,840	32,453	31,345	32,235	26,816	23,913	23,502	22,909	23,141	22,050	21,901	22,028	21,796	21,105	21,035	-	-	20,139	18,537	-	-	19,534	19,373	19,640	19,569	19,862	18,651	19,740	20,359
Interest expense:
Deposits
9,206	11,177	13,394	13,825	12,479	10,543	8,723	6,528	4,881	4,232	3,556	2,990	2,232	1,912	1,472	1,344	1,289	1,199	1,140	1,083	1,072	1,137	1,168	1,101	1,101	-	-	1,176	1,116	-	-	1,629	1,715	1,990	2,201	2,321	2,425	3,151	3,414
Short-term borrowings
64	114	97	81	71	97	78	63	33	37	33	19	23	20	12	18	43	29	63	53	64	56	64	60	51	-	-	103	64	-	-	77	64	42	65	68	113	132	149
Federal Home Loan Bank advances
449	367	1,023	601	903	688	1,422	1,019	1,064	615	607	354	403	6	420	415	441	528	537	1,001	1,443	1,476	1,497	1,495	1,555	-	-	1,726	1,732	-	-	1,829	1,864	1,918	1,931	1,978	2,143	2,345	2,313
Other borrowings
-	1	-185	92	605	1,188	705	596	718	775	724	695	683	693	974	824	825	947	944	1,108	1,231	1,265	1,279	1,174	1,171	-	-	1,162	1,190	-	-	1,224	1,257	1,278	1,301	1,289	1,279	1,452	1,466
Subordinated notes
994	1,004	1,003	993	564	-	70	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Junior subordinated debentures
571	579	581	576	572	525	519	508	447	423	362	346	332	324	306	301	304	318	316	312	307	311	311	307	305	-	-	261	241	-	-	259	267	253	241	252	480	495	483
Total interest expense
11,284	13,057	16,098	16,168	15,194	13,110	11,517	8,714	7,143	6,084	5,284	4,406	3,676	2,955	3,185	2,904	2,904	3,023	3,003	3,559	4,119	4,246	4,321	4,140	4,185	-	-	4,431	4,346	-	-	5,019	5,170	5,484	5,740	5,911	6,442	7,576	7,828
Net interest income
37,698	39,919	40,719	38,013	36,908	39,593	38,314	32,085	32,403	31,793	28,556	28,046	27,668	29,279	23,630	21,008	20,597	19,886	20,137	18,490	17,782	17,781	17,475	16,965	16,849	-	-	15,708	14,191	-	-	14,515	14,203	14,156	13,828	13,951	12,208	12,163	12,531
Provision for loan/lease losses
8,367	979	2,012	1,941	2,134	1,611	6,206	2,301	2,540	2,255	2,086	2,022	2,105	2,599	1,607	1,197	2,072	1,176	1,635	2,348	1,710	3,647	1,063	1,001	1,094	-	-	1,520	1,057	-	-	1,048	780	1,419	2,456	1,672	1,067	1,434	1,376
Net interest income after provision for loan/lease losses
29,331	38,940	38,707	36,072	34,774	37,982	32,108	29,784	29,863	29,537	26,469	26,023	25,563	26,680	22,022	19,810	18,524	18,709	18,502	16,142	16,071	14,133	16,412	15,963	15,755	-	-	14,187	13,133	-	-	13,467	13,423	12,737	11,371	12,278	11,141	10,729	11,154
Noninterest income:
Revenue
64,178	82,780	76,723	71,246	64,095	67,982	58,640	49,711	48,087	-	40,542	39,235	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gains on sales of residential real estate loans, net
652	823	890	489	369	361	337	102	101	101	98	112	96	142	144	84	60	56	84	95	86	143	120	132	63	-	-	246	291	-	-	271	291	-924	408	755	759	1,109	553
Gains on sales of government guaranteed portions of loans, net
-	159	519	39	31	1	46	0	358	34	91	87	950	457	218	1,603	878	404	759	69	70	1,179	158	508	194	-	-	765	845	-	-	610	107	-	-	-	-	-	-
Swap fee income
6,804	7,409	9,797	7,891	3,198	7,069	1,110	1,649	959	2,459	194	327	113	349	333	167	856	534	62	393	726	92	0	0	62	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Securities losses, net
-	-	-3	-52	-	-	-	-	-	-	-63	38	-	-35	4,251	18	358	321	56	0	421	51	19	0	20	-	-	16	-	-	-	104	-	0	443	148	880	-	-
Earnings on bank-owned life insurance
329	532	489	412	540	341	474	399	418	444	428	459	469	447	450	480	393	443	407	433	478	444	434	388	454	-	-	423	438	-	-	358	438	413	331	356	344	353	286
Participation service fees on commercial loan participations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	201	223	221	-	218	208	206	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Bargain purchase gain on Community National Acquisition
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,841	-	-	-	-	-	-	-	-	-	-	-
Fee income from early termination of leases
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	89	76	84	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Credit card issuing fees
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	133	135	134	-	-	-	-	-	-	-	-	-	-	142	127	103	178	77	141	34	110
Lawsuit award
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	387	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gains (losses) on other real estate owned, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	30	-126	-18	-	-	-83	-446	-	-	-389	-189	-284	42	-107	-25	-188	-102
Other
922	1,868	1,204	1,293	1,064	1,025	890	979	954	1,036	746	794	687	886	860	667	499	2,362	277	298	195	1,306	381	485	106	-	-	791	1,518	-	-	562	871	912	725	641	601	923	629
Total noninterest income
15,196	29,804	19,906	17,065	11,993	15,279	8,809	8,912	8,541	9,714	6,701	6,782	7,283	7,028	10,423	6,762	6,822	6,277	6,402	5,461	6,221	6,028	5,161	5,344	4,746	-	-	6,948	5,204	-	-	4,067	3,956	3,896	4,335	4,173	5,057	4,358	3,538
Noninterest expense:
Salaries and employee benefits
18,519	24,220	24,215	22,749	20,879	19,779	17,433	15,804	15,978	16,059	13,423	12,930	13,307	13,396	11,202	10,917	10,800	10,258	10,583	11,091	11,034	10,038	10,358	9,922	10,017	-	-	9,186	8,742	-	-	8,255	8,124	7,884	7,651	7,355	7,473	6,910	7,068
Occupancy and equipment expense
4,032	4,019	3,860	3,533	3,694	3,367	3,318	3,133	3,066	3,221	2,516	2,698	2,502	2,606	2,086	1,884	1,826	1,519	1,863	1,865	1,794	1,854	1,798	1,838	1,894	-	-	1,586	1,428	-	-	1,364	1,352	1,280	1,359	1,368	1,289	1,410	1,365
Professional and data processing fees
3,369	3,570	4,030	3,031	2,750	3,577	2,396	2,771	2,708	3,382	2,950	2,340	2,083	2,192	1,931	1,542	1,447	839	1,742	1,470	1,470	1,673	1,530	1,403	1,584	-	-	1,438	1,140	-	-	1,126	1,150	1,122	1,077	1,136	1,124	1,096	1,125
Acquisition costs
-	-	-	-	-	-4	1,292	414	93	-	407	-	5	-	1,036	354	-	-	0	0	-	-	-	-	-	-	-	432	356	-	-	-	-	-	-	-	-	-	-
Post-acquisition compensation, transition and integration costs
151	1,856	884	708	134	-	494	165	-	-	522	-	-	-	1,009	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Disposition costs
517	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
FDIC insurance, other insurance and regulatory fees
683	523	542	926	964	1,065	933	840	756	794	690	645	621	682	582	649	634	573	702	730	719	773	711	695	714	-	-	627	555	-	-	576	580	549	578	687	882	887	883
Loan/lease expense
228	350	221	312	214	624	369	260	291	352	257	260	293	242	102	154	162	280	90	208	302	-242	184	377	345	-	-	251	245	-	-	263	218	388	839	656	276	678	411
Net cost of and gains/losses on operations of other real estate
13	231	2,078	1,182	298	2,477	-50	-70	132	120	-160	27	14	78	133	277	102	-3	-1,117	-47	76	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Advertising and marketing
682	1,670	1,056	1,037	785	1,122	984	753	693	778	669	567	609	760	547	433	386	532	460	489	418	590	555	501	337	-	-	412	264	-	-	344	276	452	277	334	224	292	243
Postage and communications
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	220	214	248	-	146	258	290	-	-	257	218	-	-	236	288	233	242	231	230	252	235
Stationery and supplies
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	144	136	142	-	138	145	151	-	-	150	110	-	-	135	142	136	122	123	134	135	123
Bank service charges
504	516	502	508	483	470	462	466	440	439	460	447	423	446	415	415	415	397	392	358	337	331	337	324	298	-	-	284	275	-	-	198	199	200	186	177	161	112	142
Losses on debt extinguishment
-147	-	-148	-	-	-	-	-	-	-	-	-	-	-523	-4,137	0	83	-	0	6,894	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Correspondent banking expense
216	217	209	206	204	208	205	204	204	202	204	201	198	185	205	181	176	185	176	165	175	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Intangibles amortization
549	559	560	615	532	540	542	305	305	308	230	230	230	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Goodwill impairment
500	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Prepayment fees on Federal Home Loan Bank advances
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	832	-	-
Other-than-temporary impairment losses on securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	62	-	-	-	118	-	113	-
Other
1,305	1,950	1,640	1,753	1,498	1,758	2,122	1,325	1,197	1,248	1,221	1,053	982	876	1,089	931	917	1,973	687	523	483	1,698	721	638	505	-	-	606	619	-	-	545	404	404	437	365	382	244	615
Total noninterest expense
31,415	46,294	39,945	36,560	32,435	36,410	30,500	26,370	25,863	31,350	23,395	21,404	21,273	22,307	24,480	17,743	16,954	15,939	15,947	24,101	17,204	16,824	16,482	16,106	16,140	-	-	15,234	13,958	-	-	13,109	12,738	12,651	12,773	12,555	13,012	12,133	12,214
Net income before income taxes
13,112	22,450	18,668	16,577	14,332	16,851	10,417	12,326	12,541	7,901	9,775	11,401	11,574	11,401	7,965	8,829	8,392	9,048	8,957	-2,498	5,089	3,337	5,091	5,201	4,361	-	-	5,902	4,379	-	-	4,425	4,641	3,981	2,933	3,896	3,185	2,953	2,478
Federal and state income tax expense
1,884	6,559	3,573	3,073	1,414	3,535	1,608	1,881	1,991	-2,000	1,921	2,635	2,389	2,872	1,858	2,153	2,019	2,263	2,468	-1,974	911	344	1,028	1,193	472	-	-	1,857	1,113	-	-	1,152	1,238	1,122	667	1,123	954	829	678
Net income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	6,676	6,373	-	6,488	-523	4,177	2,992	4,062	4,007	3,889	3,815	3,811	4,045	3,265	3,245	3,184	3,273	3,402	2,858	2,266	2,773	2,231	2,123	1,799
Less: net income attributable to noncontrolling interests
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	201	166	130	103	98	106	109	62
Net income
11,228	15,891	15,095	13,504	12,918	13,316	8,809	10,445	10,550	9,902	7,853	8,766	9,184	-	6,107	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,072	3,236	2,728	2,163	2,674	2,124	2,014	1,737
Less: preferred stock dividends
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	373	708	-	-	810	810	-	-	935	938	1,027	2,188	1,035	1,032	1,028	1,037
Net income attributable to QCR Holdings, Inc. common stockholders
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,992	4,062	3,633	3,181	-	-	3,234	2,454	-	-	2,136	2,298	1,700	-24	1,639	1,092	985	700
Basic earnings per common share (in dollars per share)
0.71	1.01	0.96	0.86	0.82	0.85	0.56	0.75	0.76	0.71	0.60	0.67	0.70	0.65	0.47	0.54	0.54	0.62	0.55	-0.05	0.52	0.38	0.51	0.46	0.40	-	-	0.60	0.50	-	-	0.44	0.48	0.37	-0.01	0.34	0.23	0.21	0.15
Diluted earnings per common share (in dollars per share)
0.70	1.00	0.94	0.85	0.81	0.84	0.55	0.73	0.74	0.70	0.58	0.65	0.68	0.65	0.46	0.53	0.53	0.59	0.55	-0.05	0.52	0.37	0.50	0.45	0.40	-	-	0.59	0.49	-	-	0.44	0.48	0.36	-0.01	0.34	0.23	0.21	0.15
Weighted average common shares outstanding (in shares)
15,796	15,772	15,739	15,714	15,693	15,641	15,625	13,919	13,888	13,845	13,151	13,170	13,133	13,087	13,066	12,335	11,793	11,744	11,713	9,946	7,975	7,943	7,931	7,924	7,901	-	-	5,393	4,927	-	-	4,835	4,800	4,512	4,866	4,847	4,671	4,598	4,591
Weighted average common and common equivalent shares outstanding (in shares)
16,011	16,033	15,976	15,938	15,922	15,898	15,922	14,232	14,205	14,208	13,507	13,516	13,488	13,323	13,269	12,516	11,953	12,079	11,875	9,946	8,097	8,060	8,053	8,050	8,030	-	-	5,497	5,034	-	-	4,901	4,833	4,731	4,866	4,873	4,683	4,619	4,649
Cash dividends declared per common share (in dollars per share)
0.06	0.06	0.06	0.06	0.06	0.06	0.06	0.06	0.06	0.05	0.05	0.05	0.05	0.04	0.04	0.04	0.04	-	0.00	0.04	-	-	-	0.04	-	-	-	0.04	-	-	-	0.04	0.00	-	-	0.04	-	-	0.04
Unrealized holding losses arising during the period before tax
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-800	-	-	-	2,660	-	-	-	-	-	-	-	-
Less reclassification adjustment for gains included in net income before tax
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	416	-	-	-	-	-	-	-	-	-	-	-	-

-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1,217	-	-	-	2,660	-	-	-	-	-	-	-	-
Other comprehensive loss, before tax
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1,217	-	-	-	-	-	-	-	-	-	-	-	-
Tax benefit
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-399	-	-	-	1,016	-	-	-	-	-	-	-	-
Other comprehensive loss, net of tax
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-818	-	-	-	1,643	-	-	-	-	-	-	-	-
Comprehensive income attributable to QCR Holdings, Inc.
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,993	-	-	-	4,828	-	-	-	-	-	-	-	-
Trust department fees
Revenue
2,312	2,365	2,340	2,361	2,493	2,216	2,196	2,058	2,237	2,034	1,721	1,692	1,740	1,557	1,518	1,512	1,575	1,454	1,531	1,511	1,633	1,414	1,355	1,444	1,500	-	-	1,197	1,039	-	-	852	883	761	762	894	950	803	729
Investment advisory and management fees
Revenue
1,727	1,589	1,782	1,888	1,736	1,657	1,059	1,058	952	1,071	968	868	961	875	765	692	658	721	782	758	710	711	726	710	648	-	-	695	609	-	-	679	521	477	549	550	531	419	471
Deposit service fees
Revenue
1,477	1,787	1,813	1,658	1,554	1,623	1,656	1,610	1,531	1,621	1,522	1,458	1,316	1,410	1,150	946	931	974	984	924	901	502	1,168	1,091	1,045	-	-	1,054	907	-	-	875	904	869	893	856	872	902	860
Debit card fees
Revenue
758	765	886	914	792	807	846	844	766	740	754	743	702	687	475	343	307	418	333	255	238	380	251	280	230	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Correspondent banking fees
Revenue
215	196	189	172	216	179	195	213	265	231	239	200	245	249	253	244	302	274	310	285	319	318	295	218	232	-	-	-	-	-	-	-	-	-	-	-	-	-	-