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Note 21 - Parent Company Only Financial Statements | 12 Months Ended
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Dec. 31, 2019
Notes to Financial Statements |
Parent Company Only Financial Statements | Note 21. Parent Company Only Financial Statements The following is condensed financial information of QCR Holdings, Inc. (parent company only): Condensed Balance Sheets December 31, 2019 and 2018
|  | 2019 |  | 2018
|  | (dollars in thousands)
Assets |  |  |  |  |  |
Cash and due from banks |  | $ | 59,529 |  | $ | 6,606
Interest-bearing deposits at financial institutions |  |  | 5,601 |  |  | 1,001
Investment in bank subsidiaries |  |  | 570,698 |  |  | 532,164
Investment in nonbank subsidiaries |  |  | 13,239 |  |  | 4,880
Premises and equipment, net |  |  | 9,424 |  |  | 6,956
Goodwill |  |  | 682 |  |  | 3,766
Intangibles |  |  | 1,503 |  |  | 1,855
Other assets |  |  | 15,150 |  |  | 14,794
Total assets |  | $ | 675,826 |  | $ | 572,022
Liabilities and Stockholders' Equity |  |  |  |  |  |
Liabilities: |  |  |  |  |  |
Other borrowings |  | $ | — |  | $ | 32,250
Subordinated notes |  |  | 63,531 |  |  | —
Junior subordinated debentures |  |  | 37,838 |  |  | 37,670
Other liabilities |  |  | 39,106 |  |  | 28,964
Total liabilities |  |  | 140,475 |  |  | 98,884
Stockholders' Equity: |  |  |  |  |  |
Common stock |  |  | 15,828 |  |  | 15,718
Additional paid-in capital |  |  | 274,785 |  |  | 270,761
Retained earnings |  |  | 245,836 |  |  | 192,203
Accumulated other comprehensive loss |  |  | (1,098) |  |  | (5,544)
Total stockholders' equity |  |  | 535,351 |  |  | 473,138
Total liabilities and stockholders' equity |  | $ | 675,826 |  | $ | 572,022
Note 21. Parent Company Only Financial Statements (continued) Condensed Statements of Income Years Ended December 31, 2019, 2018, and 2017
|  | 2019 |  | 2018 |  | 2017
|  | (dollars in thousands)
Total interest income |  | $ | 77 |  | $ | 88 |  | $ | 13
Equity in net income of bank subsidiaries |  |  | 69,966 |  |  | 55,209 |  |  | 45,104
Equity in net income of nonbank subsidiaries |  |  | 6,797 |  |  | (436) |  |  | 75
Securities gains |  |  | — |  |  | — |  |  | 6
Other |  |  | 314 |  |  | (322) |  |  | 3
Total income |  |  | 77,154 |  |  | 54,539 |  |  | 45,201
Interest expense |  |  | 5,836 |  |  | 3,637 |  |  | 2,658
Salaries and employee benefits |  |  | 8,739 |  |  | 6,598 |  |  | 5,022
Professional fees |  |  | 1,545 |  |  | 1,872 |  |  | 1,345
Acquisition costs |  |  | — |  |  | 1,654 |  |  | 1,069
Post-acquisition compensation, transition and integration costs |  |  | 3,171 |  |  | 165 |  |  | 3,151
Disposition costs |  |  | 1,606 |  |  | — |  |  | —
Goodwill impairment |  |  | 3,000 |  |  | — |  |  | —
Other |  |  | 2,147 |  |  | 1,026 |  |  | 1,134
Total expenses |  |  | 26,044 |  |  | 14,952 |  |  | 14,379
Income before income tax benefit |  |  | 51,110 |  |  | 39,587 |  |  | 30,822
Income tax benefit |  |  | 6,298 |  |  | 3,533 |  |  | 4,885
Net income |  | $ | 57,408 |  | $ | 43,120 |  | $ | 35,707
Note 21. Parent Company Only Financial Statements (continued) Condensed Statements of Cash Flows Years Ended December 31, 2019, 2018, and 2017
|  | 2019 |  | 2018 |  | 2017
|  | (dollars in thousands)
Cash Flows from Operating Activities: |  |  |  |  |  |  |  |  |
Net income |  | $ | 57,408 |  | $ | 43,120 |  | $ | 35,707
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |  |  |  |  |  |  |
Earnings of bank subsidiaries |  |  | (69,966) |  |  | (55,209) |  |  | (45,104)
Earnings (losses) of nonbank subsidiaries |  |  | (6,797) |  |  | 436 |  |  | (75)
Distributions from bank subsidiaries |  |  | — |  |  | 34,500 |  |  | 21,000
Distributions from nonbank subsidiaries |  |  | 45,058 |  |  | 63 |  |  | 39
Accretion of acquisition fair value adjustments |  |  | 305 |  |  | 183 |  |  | 149
Depreciation |  |  | 327 |  |  | 249 |  |  | 225
Stock-based compensation expense |  |  | 2,469 |  |  | 1,443 |  |  | 1,187
Securities gains, net |  |  | — |  |  | — |  |  | (6)
Goodwill impairment |  |  | 3,000 |  |  | — |  |  | —
Decrease (increase) in other assets |  |  | 26 |  |  | 2,232 |  |  | (969)
(Decrease) increase in other liabilities |  |  | 7,814 |  |  | (7,226) |  |  | (6,919)
Net cash provided by operating activities |  |  | 39,644 |  |  | 19,791 |  |  | 5,234
Cash Flows from Investing Activities: |  |  |  |  |  |  |  |  |
Net increase (decrease) in interest-bearing deposits at financial institutions |  |  | (4,600) |  |  | (1,000) |  |  | —
Activity in securities portfolio: |  |  |  |  |  |  |  |  |
Calls, maturities and redemptions |  |  | — |  |  | — |  |  | 6
Sales |  |  | — |  |  | — |  |  | 32
Capital infusion, bank subsidiaries |  |  | (8,600) |  |  | (3,500) |  |  | —
Capital infusion, non-bank subsidiaries |  |  | (100) |  |  | — |  |  | —
Net cash paid for acquisitions |  |  | — |  |  | (5,183) |  |  | (3,369)
Purchase of premises and equipment |  |  | (2,861) |  |  | (2,257) |  |  | (69)
Net cash (used in) investing activities |  |  | (16,161) |  |  | (11,940) |  |  | (3,400)
Cash Flows from Financing Activities: |  |  |  |  |  |  |  |  |
Activity in other borrowings: |  |  |  |  |  |  |  |  |
Proceeds from other borrowings |  |  | — |  |  | 9,000 |  |  | 7,000
Paydown on revolving line of credit |  |  | (9,000) |  |  | — |  |  | —
Prepayments |  |  | (21,313) |  |  | — |  |  | —
Calls, maturities and scheduled payments |  |  | (1,799) |  |  | (12,550) |  |  | (11,000)
Proceeds from subordinated notes |  |  | 63,393 |  |  | — |  |  | —
Payment of cash dividends on common and preferred stock |  |  | (3,767) |  |  | (3,300) |  |  | (2,494)
Proceeds from issuance of common stock, net |  |  | 1,926 |  |  | 1,279 |  |  | 2,056
Net cash provided by (used in) financing activities |  |  | 29,440 |  |  | (5,571) |  |  | (4,438)
Net increase (decrease) in cash and due from banks |  |  | 52,923 |  |  | 2,280 |  |  | (2,604)
Cash and due from banks: |  |  |  |  |  |  |  |  |
Beginning |  |  | 6,606 |  |  | 4,326 |  |  | 6,930
Ending |  | $ | 59,529 |  | $ | 6,606 |  | $ | 4,326

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e24072-122690 Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=108774443&loc=d3e5283-111683 + Details
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