A number of factors, many of which are beyond the ability of the Company to control or predict, could cause actual results to differ materially from those in its forward-looking statements. These factors include, among others, the following: (i) the strength of the local, state, national and international economies (including the impact of the new presidential administration and the impact of tariffs, a U.S. withdrawal from or significant renegotiation of trade agreements, trade wars and other changes in trade regulations); (ii) the economic impact of any future terrorist threats and attacks, widespread disease or pandemics (including the COVID-19 pandemic in the United States), or other adverse external events that could cause economic deterioration or instability in credit markets, and the response of the local, state and national governments to any such adverse external events; (iii) changes in accounting policies and practices (including the new current expected credit loss (CECL) impairment standards, that will change how the Company estimates credit losses when implemented); (iv) changes in state and federal laws, regulations and governmental policies concerning the Company's general business; (v) changes in interest rates and prepayment rates of the Company's assets (including the impact of LIBOR phase-out); (vi) increased competition in the financial services sector and the inability to attract new customers; (vii) changes in technology and the ability to develop and maintain secure and reliable electronic systems; (viii) unexpected results of acquisitions, which may include failure to realize the anticipated benefits of acquisitions and the possibility that transaction costs may be greater than anticipated; (ix) the loss of key executives or employees; (x) changes in consumer spending; and (xi) unexpected outcomes of existing or new litigation involving the Company. These risks and uncertainties should be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements. Additional information concerning the Company and its business, including additional factors that could materially affect the Company's financial results, is included in the Company's filings with the Securities and Exchange Commission.
PPP & LRP Participation
PPP
Client Participation in the Paycheck Protection Program (PPP)
In 2020, QCRH originated 1,698 PPP loans with a total of $358MM.
• As of Dec. 31, 2020, 316 of these loans, totaling $85MM were paid off.
This total includes the acquisition of new, highly desired clients in our existing markets:
Number of new client loans: 309 (18% of total PPP loans)
Total of new client loans: $63MM
PPP Loans and Balances as of Dec. 31, 2020
PPP Loan Size
# of Loans
Total ($MM)
Average Loan Size
<$350K*
1,223
$86MM
$154K
$350K - $2MM
132
$102MM
$774K
>$2MM
27
$85MM
$3,000K
TOTAL
1,382
$273MM
$198K
* PPP loans $50K or less accounted for 684 loans, totaling $14MM with an average loan size of $21K. 4
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QCR Holdings Inc. published this content on 27 January 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 January 2021 21:23:02 UTC
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.
QCR HOLDINGS, INC. 
