REPORT2022 relationship driven.
3
COLLABORATION…
THE KEY TO SUCCESS
A Message from the Chair of the Board
Along with the expansion of our
company and commitment to our
communities, we accomplished another
year of record earnings. We know this
would not be possible without the
1,000+ team members that provide
excellent customer service for both
internal and external clients. With this
solid foundation and our excellent
management team, I am confident in the
continued success and future growth of
our company.
Thank you for being a shareholder.
MARIE Z. ZIEGLER
Chair of the Board, QCR Holdings, Inc.
On behalf of the entire
Board of Directors, I am
proud to bring you this
year’s Annual Report.
Collaboration and adaptation to
change were the keys to our company’s
outstanding growth and success this
past year. These differentiators kept QCR
Holdings solidly performing in the top
quartile of our peers and drove us to
unprecedented success again in 2022.
In April, we welcomed into the
QCR Holdings family the shareholders,
customers, and employees of
Guaranty Bank. This acquisition was a
strong fit due to the 220 relationship-
driven employees and the thriving
Springfield market. Most importantly,
Guaranty Bank holds the same regard
for relationships and business values
that guide our own company.
Our value of relationships was
demonstrated throughout the year
by each entity’s involvement in its
community. Whether through CRA
(Community Reinvestment Act)
initiatives, sponsorships, DEI (diversity,
equity, and inclusion) engagement, or
volunteerism, our team members added
value every day to the communities in
which they live and work.
2022 Annual Report 4
GROWING
AND THRIVING
A Message from Larry Helling and Todd Gipple
As we transition into 2023, QCR Holdings
is not just growing, but thriving. With the
guiding principles of our 9-6-5 strategy,
combined with our successful acquisition of
Guaranty Bank, we have grown adjusted net
income and adjusted EPS at a compounded
annual growth rate of 25.4% and 21.9%,
respectively, since 2018. While growing at a
consistent pace, we have also significantly
increased our profitability, with our
performance now in the top quartile of our
peer group.
LARRY J. HELLING
Chief Executive Officer,
QCR Holdings, Inc.
TODD A. GIPPLE
President, Chief Operating Officer and
Chief Financial Officer, QCR Holdings, Inc.
In 2022, we reported record net income of
$99.1 million for the year. After adjusting
for the one-time costs associated with the
acquisition, our adjusted net income was
$114.9 million, which is an increase of 14.8%
from 2021. Our adjusted EPS was $6.80 per
diluted share, which is an increase of 8.5%.
One of the primary ways we accomplished
record earnings is through attracting and
retaining the best bankers and clients in our
markets, which leads to reduced turnover,
improved efficiency, higher profitability, and
enhanced shareholder value.
While our historical performance is
impressive, we remain focused on the future
and expect to continue to perform at the top
of our peer group over the long-term. The
combination of our traditional banking and
our high-performing business lines provides
diverse revenue streams, which has helped
us outperform in a variety of economic
environments.
We remain focused on the
future and expect to continue
to perform at the top of our
peer group over the long-term.
While we are mindful of recessionary
concerns, we remain cautiously optimistic
about the relative economic resiliency of our
markets. Additionally, our strong capital and
earning momentum have put us in a position
to continue to grow and thrive in 2023.
QCR Holdings, Inc. 2022 Annual Report
5
A SIMPLE
AND FOCUSED STRATEGY
Grow earnings and drive attractive
long-term returns for our shareholders.
Our 9-6-5 strategy has resulted in record net income and top quartile performance.
Grow loans by 9%
per year, funded with
core deposits
Grow fee income no
less than 6% per year
We continue to gain
market share across our
charters by capitalizing
on the value that
our clients place on
relationship-based
community banking. Our
goal is to organically
grow loans and leases
by 9% per year and to
fund this growth with a
corresponding increase
in our core deposits.
We continue to
diversify our revenue
mix and develop
more opportunities to
increase profitability with
continued gains in non-
interest income. Our goal
is to grow our fee-based
income by no less than
6% per year.
Improve efficiencies
and hold expense
growth to less than
5% per year
We remain focused on
improving operational
efficiencies and
managing our non-
interest expenses. Our
goal is to limit our annual
operating expense
growth to less than 5%
per year.
965 6
OUR
MISSION
We make financial
dreams a reality.
OUR
VISION
Exceptional people providing
extraordinary performance for
our clients, shareholders,
and communities.
OUR
VALUES
Passion
We care.
Achievement
We expect to win.
Accountability
We drive it.
Collaboration
We work together.
Innovation
We embrace change.
Inclusion
We respect all.
QCR Holdings, Inc. 7
Adjusted Loan
and Lease Growth
14.6%
Adjusted Earnings
Per Share
$6.80
Adjusted
Net Income
$114.9 m
NPAs/Assets
0.11%
340 New Relationships
in Wealth Management
Totaling
$481 m
Adjusted Return on
Average Assets
1.59%
Adjusted Return on Average Total Equity 15.4%
Expanded
Net Interest Margin
Strong
Asset Quality
Increased
Adjusted Earnings
2022 Annual Report 8
QCR Holdings, Inc.
FINANCIAL
HIGHLIGHTS
Summary of Financial Results (in thousands)
Adjusted Non-GAAP Results
2018
2019
2020
2021
2022
Net interest income
$142,395
$155,559
$166,950
$178,233
$231,120
Non-interest income
$41,541
$66,510
$111,580
$100,303
$78,754
Non-interest expense
($114,976)
($143,892)
($146,304)
($152,136)
($180,775)
Pre-tax pre-provision net income
$68,960
$78,177
$132,226
$126,400
$129,099
Provision for credit losses
($12,658)
($7,066)
($55,704)
($3,486)
$4,110
Net income before taxes
$56,302
$71,111
$76,522
$122,914
$133,209
Income taxes
($9,890)
($12,630)
($13,281)
($22,866)
($18,348)
Net income
$46,412
$58,481
$63,241
$100,048
$114,861
GROSS LOANS/LEASES
(MILLIONS)
ADJUSTED NET INCOME
(MILLIONS)
12.31.22
12.31.21
12.31.20
12.31.19
$4,680
$4,251
$3,690
$6,139
12.31.22
12.31.22
12.31.21
12.31.21
12.31.20
12.31.20
12.31.19
12.31.19
$63,241
$63,241
$58,481
$58,481
$114,861
$114,861
$100,048
$100,048
$0
$3,000
$6,000
$0
$40,000
$80,000
$120,000
TOTAL ASSETS
(MILLIONS)
BOOK VALUE VS FAIR MARKET
VALUE COMMON STOCK
(MILLIONS)
$7,949
BOOK VALUE
FAIR MARKET VALUE
12.31.22
12.31.21
12.31.20
12.31.19
$6,096
$5,705
$4,909
$0
$2,000
$4,000
$6,000
$8,000
$800
$600
$400
$200
$0
12.31.19
12.31.20
12.31.21
12.31.22
10
A COMMITMENT
TO COMMUNITY
QCR Holdings is built on relationships and integrity. We adhere to those principles in all areas of
our business and believe that our environmental, social, and governance (ESG) initiatives will
drive shareholder value and make us a better company.
2022 ESG Achievements by the Numbers
Volunteer
Hours
20,365
Individual
Volunteers
539
Employee
Engagement Score
78%
2.0% above National Benchmark
Financial Literacy
Volunteer Hours
4,468
Donations and
Sponsorships
$1,663,083
CRA Eligible Loans
and Investments
$753,033,203
Environmental: We believe in responsible use of our resources with a focus on sustainability, including:
• Facility enhancements to reduce our carbon footprint, including the purchase of a 59,820 square-foot LEED Silver Certified building
• Reduction in courier delivery frequency resulting in at least 7,000 fewer miles driven per year
• $36.1 million in financing for solar projects and $2.9 million in Property Assessed Clean Energy financing outstanding as of year-end 2022
Social: We are committed to fostering and preserving a culture of diversity, equity, and inclusion,
promoting a highly engaged workforce, and supporting the communities in which we live and work.
• Since 2018, we have provided LIHTC investments and loans totaling near $2 billion, helping build over 15,000 units
• View our 2022 DEI Achievements on the next page
Governance: We are committed to integrity in our business practices and strong corporate
governance principles, including:
• A strong and diverse holding company board compromised of 45% women and minorities
• A total of 162 standard operating procedures implemented as of year-end 2022 to allow for collaboration, agility, transformation, and innovation
QCR Holdings, Inc. 11
A CULTURE
OF INCLUSION
At QCR Holdings, we are committed to fostering and preserving a culture of diversity, equity, and
inclusion (DEI) and strongly believe that it is our differences - of all kinds - that make our company
and our communities better and stronger. Through our six inclusion committees and various
public speaking engagements, we are able to demonstrate DEI leadership in our industry.
2022 DEI Achievements by the Numbers
DEI Workshops
and Educational
Sessions
179
Employee DEI
Survey Score (1-5)
3.9%
3.4% Increase from 2021
Number of Participants
in DEI Workshops
and Educational Sessions
800+
Inclusion Committees
Created
6
1:1 Meetings
with Diversity Officer
570
Cultural Event
Participation
15
2022 Annual Report 12
OUR LEADERSHIP
BOARD OF DIRECTORS
LARRY J. HELLING
Chief Executive Officer,
QCR Holdings, Inc. and
Cedar Rapids Bank & Trust
TODD A. GIPPLE
President, Chief Operating
Officer, Chief Financial Officer,
QCR Holdings, Inc.
MARIE Z. ZIEGLER
Chair of the Board,
QCR Holdings, Inc.,
Vice President and Deputy
Financial Officer (Retired),
Deere and Company
JAMES M. FIELD
Vice Chair of the Board,
QCR Holdings, Inc.,
President, Worldwide Construction
& Forestry Division and Deere
Power Systems (Retired),
Deere and Company
MARY KAY BATES
President and Chief Executive
Officer, Bank Midwest
JOHN-PAUL E. BESONG
Retired Executive,
Rockwell Collins
BRENT R. COBB
Chief Executive Officer,
World Class Industries, Inc.
JOHN F. GRIESEMER
President and Chief Executive
Officer, Erien Group
ELIZABETH S. JACOBS
President,
The Jacobs Group, LLC
MARK C. KILMER
President,
The Republic Companies
DONNA J. SORENSEN, J.D.
President,
Sorensen Consulting
QCR Holdings, Inc. MANAGEMENT
CABINET
Our Management Cabinet is made up of 6 key leaders within
our organization who oversee QCR Holdings, Inc. strategic
development, critical decision making, and talent management.
They work hand-in-hand with our Leadership Team.
13
JOHN H. ANDERSON
Chief Executive Officer,
Quad City Bank & Trust and
Chief Deposit Officer,
QCR Holdings, Inc.
TODD A. GIPPLE
President, Chief Operating
Officer, Chief Financial Officer,
QCR Holdings, Inc.
LARRY J. HELLING
Chief Executive Officer,
QCR Holdings, Inc. and
Cedar Rapids Bank & Trust
ANNE E. HOWARD
Senior Vice President,
Director of Human Resources,
QCR Holdings, Inc.
MONTE C. MCNEW
Chief Executive Officer,
Guaranty Bank and
Chief Lending Officer,
QCR Holdings, Inc.
REBA K. WINTER
Executive Vice President,
Chief Information Officer,
QCR Holdings, Inc.
LEADERSHIP
TEAM
Members of the Leadership Team include the Management Cabinet
and other key leaders from around the company. Their leadership
ensures effective communication and execution of the holding
company’s strategic plan and reinforces our values and culture.
STACEY J. BENTLEY
President and Chief
Executive Officer,
Community Bank & Trust
ROBERT M. EBY
Executive Vice President,
Chief Credit Officer,
QCR Holdings, Inc.
KURT A. GIBSON
President and Chief
Executive Officer,
Community State Bank
CARI J. HENSON
Vice President Corporate
Communications Manager,
QCR Holdings, Inc.
TODD C. KERSKA
Executive Vice President,
Best-In-Class Initiatives,
QCR Holdings, Inc.
Cashier, Cedar Rapids Bank
& Trust
JAMES D. KLEIN
President, Cedar Rapids
Bank & Trust
2022 Annual Report 14
CONDENSED BALANCE SHEET (Dollars in thousands)
December 31, 2022
December 31, 2021
Amount
Amount
Cash and due from banks
Federal funds sold and interest-bearing deposits
Securities
Net loans/leases
Intangibles
Goodwill
Derivatives
Other assets
Total assets
Total deposits
Total borrowings
Derivatives
Other liabilities
Total stockholders' equity
Total liabilities and stockholders' equity
ANALYSIS OF LOAN PORTFOLIO
Loan/lease mix:
Commercial and industrial - revolving
Commercial and industrial - other
Commercial real estate, owner occupied
Commercial real estate, non-owner occupied
Construction and land development
Multi-family
Direct financing leases
1-4 family real estate
Consumer
Total loans/leases
Less allowance for credit losses
Net loans/leases
ANALYSIS OF SECURITIES PORTFOLIO
Securities mix:
U.S. government sponsored agency securities
Municipal securities
Residential mortgage-backed and related securities
Asset backed securities
Other securities
Total securities
Less: allowance for credit losses
Net securities
ANALYSIS OF DEPOSITS
Deposit mix:
Noninterest-bearing demand deposits
Interest-bearing demand deposits
Time deposits
Brokered deposits
Total deposits
ANALYSIS OF BORROWINGS
Borrowings mix:
Overnight FHLB advances
Federal funds purchased
Subordinated notes
Junior subordinated debentures
Total borrowings
$
$
$
$
$
$
$
$
$
$
$
$
$
$
59,723
124,270
928,102
6,051,165
16,759
137,607
177,631
453,580
7,948,837
5,984,217
825,894
200,701
165,301
772,724
7,948,837
296,869
1,451,693
629,367
963,239
1,192,061
963,803
31,889
499,529
110,421
6,138,871
87,706
6,051,165
16,981
779,450
66,215
18,728
46,908
928,282
180
928,102
1,262,981
3,875,497
744,593
101,146
5,984,217
415,000
129,630
232,662
48,602
825,894
$
$
$
$
$
$
$
$
$
$
$
$
$
$
37,490
87,662
810,215
4,601,411
9,349
74,066
222,220
253,719
6,096,132
4,922,772
170,805
225,135
100,410
677,010
6,096,132
248,483
1,346,602
421,701
646,500
918,571
600,412
45,191
377,361
75,311
4,680,132
78,721
4,601,411
23,328
639,799
94,323
27,124
25,839
810,413
198
810,215
1,268,788
3,232,633
421,348
3
4,922,772
15,000
3,800
113,850
38,155
170,805
QCR Holdings, Inc. INCOME STATEMENT (Dollars in thousands)
December 31, 2022
December 31, 2021
15
(1) Provision for credit losses for the year ended December 31, 2022 included $11.0 million related to the acquired Guaranty Bank non-PCD loans and $1.4
million related to acquired Guaranty Bank OBS exposures.
2022 Annual ReportAmountAmountInterest income292,571$ 200,155$ Interest expense61,451 21,922 Net interest income 231,120 178,233 Provision for credit losses (1)8,284 3,486 Net interest income after provision for credit222,836$ 174,747$ Trust fees10,641$ 11,206$ Investment advisory and management fees3,858 4,080 Deposit service fees8,134 6,132 Gain on sales of residential real estate loans2,411 4,397 Gain on sales of government guaranteed portions of loans119 227 Capital Markets Revenue41,309 60,992 Securities gains (losses), net- (88) Earnings on bank-owned life insurance2,056 1,838 Debit card fees5,459 4,216 Correspondent banking fees967 1,114 Loan related fee income2,428 2,268 Fair value gain on derivatives1,975 170 Other 1,372 3,870 Total noninterest income80,729$ 100,422$ Salaries and employee benefits115,368$ 100,907$ Occupancy and equipment expense21,975 15,918 Professional and data processing fees16,282 14,579 Acquisition costs3,715 624 Post-acquisition compensation, transition and integration costs5,526 - Disposition costs- 13 FDIC insurance, other insurance and regulatory fees5,806 4,475 Loan/lease expense1,829 1,671 Net cost of operation of other real estate(40) (1,420) Advertising and marketing4,958 4,254 Communication and data connectivity2,213 1,798 Supplies1,109 1,053 Bank service charges2,282 2,173 Correspondent banking expense840 799 Core deposit intangible amortization2,854 2,032 Payment card processing1,964 1,412 Trust expense775 758 Other2,560 2,656 Total noninterest expense190,016$ 153,702$ Net income before taxes113,549$ 121,467$ Income tax expense14,483 22,562 Net income99,066$ 98,905$ Basic EPS5.94$ 6.30$ Diluted EPS5.87$ 6.20$ Weighted average common shares outstanding16,681,844 15,708,744 Weighted average common and common equivalent shares outstanding16,890,007 15,944,708 16
EQUITY & PERFORMANCE (Dollars in thousands except Common Share Data)
December 31, 2022
December 31, 2021
(1) Includes accumulated other comprehensive income (loss).
(2) Includes accumulated other comprehensive income (loss) and excludes intangible assets (Non-GAAP).
(3) LTM : Last twelve months.
(4) TCE : tangible common equity / total tangible assets. See GAAP to Non-GAAP reconciliations in the Company’s Form 10-K and earnings release.
(5) Includes mostly common stock issued for options exercised and the employee stock purchase plan, as well as stock-based compensation.
(6) TEY : Tax equivalent yield.
(7) See GAAP to Non-GAAP reconciliations in the Company’s Form 10-K and earnings release.
(8) Increase due to the acquisition of Guaranty Bank.
QCR Holdings, Inc.COMMON SHARE DATACommon shares outstanding 16,795,94215,613,460Book value per common share (1)$46.01$43.36Tangible book value per common share (2)$36.82$38.02Closing stock price$49.64$56.00Market capitalization$833,751$874,354Market price / book value107.90%129.15%Market price / tangible book value134.83%147.30%Earnings per common share (basic) LTM (3)$5.95$6.30Price earnings ratio LTM (3)8.35 x8.88 xTCE / TA (4)7.93%9.87%CONDENSED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITYBeginning balance677,010$593,793$Cumulative effect from the adoption of ASU 2016-13 CECL- )739(Net income 660,99 509,89Other comprehensive income (loss), net of tax )054,66( 671Proceeds from issuance of 2,071,291 shares of common stock as a result of the 412,711- )459,25( )861,41( )220,4( )187,3( 068,2 220,3772,724$ 677,010$ acquisition of Guaranty Federal Bancshares Repurchase and cancellation of shares of common as a result of share repurchase programs Common stock cash dividends declaredOther (5)Ending balanceREGULATORY CAPITAL RATIOSTotal risk-based capital ratio14.28%14.77%Tier 1 risk-based capital ratio9.95%11.46%Tier 1 leverage capital ratio9.61%10.46%Common equity tier 1 ratio9.29%10.76%KEY PERFORMANCE RATIOS ANDOTHER METRICSReturn on average assets (annualized)1.37%1.68%Return on average total equity (annualized)13.24%15.52%Net interest margin3.49%3.30%Net interest margin (TEY) (Non-GAAP)(6) (7)3.73%3.49%Efficiency ratio (Non-GAAP) (7)60.93%55.16%Gross loans and leases / total assets 77.23%76.77%Full-time equivalent employees (8)973726AVERAGE BALANCES Assets7,206,180$ 5,873,357$Loans/leases 470,406,5 164,654,4Deposits 645,676,5 575,677,4Total stockholders' equity 230,847 091,7361 ASSET QUALITY (Dollars in thousands)
December 31, 2022
December 31, 2021
17
(1) Credit loss expense on loans/leases for the quarter ended June 30, 2022 included $11.0 million related to the acquired Guaranty Bank non-PCD loans.
(2) The increase in nonaccrual loans for the quarter ended June 30, 2022 is due to the addition of $7.3 million related to the acquired Guaranty Bank
loan portfolio.
2022 Annual Report1December 31,December 31,2022221ROLLFORWARD OF ALLOWANCE FOR CREDIT LOSSES ON LOANS/LEASESBeginning balance78,721$ 84,376$ Adoption of ASU 2016-13 "CECL" - Day 1 adjustment- (8,102) Initial ACL recorded for acquired loans5,902 - Credit loss expense (1)9,636 5,702 Loans/leases charged off(7,525) (4,538) Recoveries on loans/leases previously charged off972 1,283 Ending balance87,706$ 78,721$ NONPERFORMING ASSETS Nonaccrual loans/leases (2)8,765$ 2,759$ Accruing loans/leases past due 90 days or more5 1 Total nonperforming loans/leases8,770 2,760 Other real estate owned133 - Total nonperforming assets8,903$ 2,760$ ASSET QUALITY RATIOSNonperforming assets / total assets0.11%0.05%ACL for loans and leases / total loans/leases 1.43%1.68%ACL for loans and leases / nonperforming loans/leases 1000.07%2852.21%INTERNALLY ASSIGNED RISK RATING (3)Special mention (rating 6)98,333$ 62,510$ Substandard (rating 7)66,021 53,159 Doubtful (rating 8)- - 164,354$ 115,669$ Criticized loans (4)164,354$ 115,669$ Classified loans (5)66,021 53,159 Criticized loans as a % of total loans/leases2.68%2.47%Classified loans as a % of total loans/leases1.08%1.14%(1) Credit loss expense on loans/leases for the quarter ended June 30, 2022 included $11.0 million related to the acquired Guaranty Bank non-PCD loans.(2) The increase in nonaccrual loans for the quarter ended June 30, 2022 is due to the addition of $7.3 million related to the acquired Guaranty Bank loan portfolio.(3) Amounts exclude the government guaranteed portion, if any. The Company assigns internal risk ratings of Pass (Rating 2) for the government guaranteed portion.(4) Criticized loans are defined as C&I and CRE loans with internally assigned risk ratings of 6, 7, or 8, regardless of performance.(5) Classified loans are defined as C&I and CRE loans with internally assigned risk ratings of 7 or 8, regardless of performance.(dollars in thousands) 18
NET INTEREST INCOME AND MARGIN
Year End December 31, 2022
Year End December 31, 2021
(1) Includes nontaxable securities and loans. Interest earned and yields on nontaxable securities and loans are determined on a tax
equivalent basis using a 21% tax rate.
(2) TEY: Tax equivalent yield.
QCR Holdings, Inc.ANALYSIS OF NET INTEREST INCOME AND MARGIN Average Balance Interest Earned or Paid Average Yield or Cost Average Balance Interest Earned or Paid Average Yield or Cost Fed funds sold14,436$ 410$ 2.84%1,964$ 2$ 0.10%Interest-bearing deposits at financial institutions63,448 1,089 1.72%116,421 173 0.15%Securities (1)910,712 36,359 3.99%804,636 29,504 3.66%Restricted investment securities35,554 2,068 5.73%19,386 950 4.83%Loans (1)5,604,074 268,985 4.80%4,456,461 179,738 4.03%Total earning assets (1)6,628,224$ 308,911$ 4.66%5,398,868$ 210,367$ 3.90%Interest-bearing deposits3,715,017$ 35,359$ 0.95%3,058,917$ 8,621$ 0.28%Time deposits568,245 7,003 1.23%448,191 4,679 1.04%Short-term borrowings8,637 299 3.46%6,281 5 0.08%Federal Home Loan Bank advances 286,474 6,954 2.39%23,389 70 0.30%Other borrowings1,068 53 4.96%- - 0.00%Subordinated notes165,685 9,200 5.55%115,398 6,272 5.44%Junior subordinated debentures45,497 2,583 5.60%38,067 2,276 5.90%Total interest-bearing liabilities4,790,623$ 61,451$ 1.28%3,690,243$ 21,923$ 0.59%Net interest income / spread (1)247,460$ 188,444$ Net interest margin3.49%3.30%Net interest margin (TEY) (Non-GAAP) (1) (2)3.73%3.49%Adjusted net interest margin (TEY) (Non-GAAP) (1)(2)3.60%3.47%(1) Includes nontaxable securities and loans. Interest earned and yields on nontaxable securities and loans are determined on a tax equivalent basis using a 21% tax rate. (2) TEY: Tax equivalent yield.December 31, 2022December 31, 2021(dollars in thousands)For the Year Ended1 STOCK LISTING INFORMATION
The common stock of QCR Holdings, Inc. is traded on the
Nasdaq Global Market under the symbol “QCRH”.
19
Dividend Information
Record
Date
Payment
Date
Cash
Amount
03/18/22
04/06/22
$ 0.06
06/17/22
07/06/22
$ 0.06
09/16/22
10/05/22
$ 0.06
12/16/22
01/05/23
$ 0.06
2022 Stock Performance - Price Change (%)
24
12
0
(12)
(24)
(36)
(48)
QCRH
Russell 2000
KBW Nasdaq Regional Bank Index
-11.06%
Feb ‘22
Apr ‘22
Jun ‘22
Aug ‘22
Oct ‘22
Dec ‘22
2022 Annual ReportANALYSIS OF NET INTEREST INCOME AND MARGIN Average Balance Interest Earned or Paid Average Yield or Cost Average Balance Interest Earned or Paid Average Yield or Cost Fed funds sold14,436$ 410$ 2.84%1,964$ 2$ 0.10%Interest-bearing deposits at financial institutions63,448 1,089 1.72%116,421 173 0.15%Securities (1)910,712 36,359 3.99%804,636 29,504 3.66%Restricted investment securities35,554 2,068 5.73%19,386 950 4.83%Loans (1)5,604,074 268,985 4.80%4,456,461 179,738 4.03%Total earning assets (1)6,628,224$ 308,911$ 4.66%5,398,868$ 210,367$ 3.90%Interest-bearing deposits3,715,017$ 35,359$ 0.95%3,058,917$ 8,621$ 0.28%Time deposits568,245 7,003 1.23%448,191 4,679 1.04%Short-term borrowings8,637 299 3.46%6,281 5 0.08%Federal Home Loan Bank advances 286,474 6,954 2.39%23,389 70 0.30%Other borrowings1,068 53 4.96%- - 0.00%Subordinated notes165,685 9,200 5.55%115,398 6,272 5.44%Junior subordinated debentures45,497 2,583 5.60%38,067 2,276 5.90%Total interest-bearing liabilities4,790,623$ 61,451$ 1.28%3,690,243$ 21,923$ 0.59%Net interest income / spread (1)247,460$ 188,444$ Net interest margin3.49%3.30%Net interest margin (TEY) (Non-GAAP) (1) (2)3.73%3.49%Adjusted net interest margin (TEY) (Non-GAAP) (1)(2)3.60%3.47%(1) Includes nontaxable securities and loans. Interest earned and yields on nontaxable securities and loans are determined on a tax equivalent basis using a 21% tax rate. (2) TEY: Tax equivalent yield.December 31, 2022December 31, 2021(dollars in thousands)For the Year Ended1
20
STOCK LISTING
INFORMATION
2023 Annual Meeting of Stockholders
Stock Transfer Agent
We invite you to electronically attend the virtual annual
meeting which will be held on Thursday, May 18, 2023
at 8:00 a.m. Central Daylight Time. You will be able
to attend the meeting and vote during the meeting
by visiting: www.virtualshareholdermeeting.com/
QCRH2023. Prior to the meeting, you will be able to
vote by visiting www.proxyvote.com.
Stockholders interested in information may contact:
Shellee R. Showalter
Senior Vice President,
Director of Investor Services & Compensation
QCR Holdings, Inc.
3551 Seventh Street, Moline, IL 61265
309.743.7760
Annual Report on Form 10-K
Copies of the QCR Holdings annual report on
Form 10-K and exhibits filed with the Securities and
Exchange Commission are available to stockholders
without charge by accessing our website at
www.qcrh.com or may contact:
Nick W. Anderson
Senior Vice President, Chief Accounting Officer
QCR Holdings, Inc.
3551 Seventh Street, Moline, IL 61265
309.743.7707
Internet Information
Information on our subsidiaries’ history, locations,
products and services can be accessed on the internet
at: www.qcbt.bank, www.crbt.bank, www.communitybt.
bank, www.bankcsb.com, www.gbankmo.com, and
www.m2equipmentfinance.com
Inquiries related to stockholder records, stock transfers,
lost certificates, changes of ownership, changes of
address, and dividend payments should be sent to our
transfer agent at the following address:
AST Shareholder Services
Attn: Operations Center
6201 15th Avenue, Brooklyn, NY 11219
1.718.921.8124 or 1.800.937.5449
Analysts or other investors interested in
information may contact:
Todd A. Gipple
President, Chief Operating Officer and
Chief Financial Officer
QCR Holdings, Inc.
3551 Seventh Street, Moline, IL 61265
309.743.7745
Heather L. Brummel
Group Operations Executive Administrative Assistant
QCR Holdings, Inc.
3551 Seventh Street, Moline, IL 61265
309.277.2657
Independent Registered Public Accounting Firm
RSM US LLP, Davenport, IA
Corporate Counsel
Lane & Waterman LLP, Davenport, IA
Barack Ferrazzano Kirschbaum & Nagelberg LLP, Chicago, IL
QCR Holdings, Inc. relationship driven.
3551 Seventh Street | Moline, IL 61265qcrh.com