QCR Holdings Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2012
January 28, 2013 at 04:11 pm
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QCR Holdings Inc. announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2012. For the quarter, the company reported net interest income of $14,301,000 against $14,156,000 a year ago. Net income before taxes was $4,355,000 against $3,982,000 a year ago. Net income attributable to the company was $3,252,000 against $2,729,000 a year ago. Net income attributable to the company common stockholders was $2,441,000 or $0.49 diluted per share against $1,701,000 or $0.35 diluted per share a year ago. Return on average assets (annualized) was 0.63% against 0.56% a year ago. Return on average common equity (annualized) was 11.27% against 8.58% a year ago. Return on average total equity (annualized) was 9.28% against 7.69% a year ago.
For the year, the company reported net interest income of $57,649,000 against $54,145,000 a year ago. Net income before taxes was $17,640,000 against $13,998,000 a year ago. Net income attributable to the company was $12,618,000 against $9,692,000 a year ago. Net income attributable to the company common stockholders was $9,122,000 or $1.85 diluted per share against $4,408,000 or $0.92 diluted per share a year ago. Return on average assets (annualized) was 0.62% against 0.51% a year ago. Return on average common equity (annualized) was 10.84% against 5.82% a year ago. Book value per share as at December 31, 2012 was $17.74 against $16.60 as at December 31, 2011. Return on average total equity (annualized) was 8.90% against 7.09% a year ago.
QCR Holdings, Inc. is a multi-bank holding company. The Company serves the Quad Cities, Cedar Rapids, Waterloo/Cedar Falls, Des Moines/Ankeny and Springfield communities, through four wholly owned banking subsidiaries (Banks), Quad City Bank & Trust (QCBT), Cedar Rapids Bank & Trust (CRBT), Community State Bank (CSB) and Guaranty Bank (GB), which provides full-service commercial and consumer banking and trust and asset management services. The Companyâs principal business consists of attracting deposits and investing those deposits in loans/leases and securities. The Company is also engaged in direct financing lease contracts and equipment financing agreements through m2, a wholly owned subsidiary of QCBT based in Waukesha, Wisconsin. It is also engaged in wealth management services through its banking subsidiaries. It also provides a range of commercial and retail lending/leasing and investment services to corporations, partnerships, individuals, and government agencies.