Record Quarterly Net Income
QCR Holdings delivered record quarterly adjusted net income of $37 million or $2.17 per diluted share, driven by strong performance across core businesses.
Strong Earnings per Share Growth
Earnings per share grew by 26% compared to the second quarter, indicating strong financial performance and shareholder value.
Robust Loan Growth
Loan growth accelerated significantly, increasing by $286 million or 17% annualized, with strong new loan production from both LIHTC and traditional lending businesses.
Net Interest Margin Expansion
Net interest income increased by $3 million or 18% annualized, supported by continued net interest margin expansion, with a 5 basis points increase from the second quarter.
Wealth Management Growth
Wealth management revenue increased by 8% linked-quarter and 15% year-over-year, with AUM growing by $316 million or 5% in the third quarter.
Strong Capital Markets Revenue
Capital markets revenue rebounded to $24 million, up $14 million from the prior quarter, exceeding the top end of the guidance range.
Asset Quality Improvement
Total criticized loans improved, decreasing by 9% year-to-date, and net charge-offs declined compared to the second quarter.