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Note 21 - Parent Company Only Financial Statements | 12 Months Ended
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Dec. 31, 2020
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, 2020 and 2019 ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2020 |  | 2019
​ | ​ | (dollars in thousands)
Assets | ​ | ​ | ​ | ​ | ​ | ​
Cash and due from banks | ​ | $ | 88,610 | ​ | $ | 59,529
Interest-bearing deposits at financial institutions | ​ |  | 7,200 | ​ |  | 5,601
Investment in bank subsidiaries | ​ |  | 655,232 | ​ |  | 570,698
Investment in nonbank subsidiaries | ​ |  | 4,540 | ​ |  | 13,239
Premises and equipment, net | ​ |  | 9,242 | ​ |  | 9,424
Goodwill | ​ | ​ | — | ​ | ​ | 682
Intangibles | ​ | ​ | — | ​ | ​ | 1,503
Other assets | ​ |  | 7,225 | ​ |  | 15,150
Total assets | ​ | $ | 772,049 | ​ | $ | 675,826
​ | ​ |  |  | ​ |  |
Liabilities and Stockholders' Equity | ​ |  |  | ​ |  |
Liabilities: | ​ |  |  | ​ |  |
Subordinated notes | ​ | $ | 113,691 | ​ | $ | 63,531
Junior subordinated debentures | ​ |  | 37,993 | ​ |  | 37,838
Other liabilities | ​ |  | 26,572 | ​ |  | 39,106
Total liabilities | ​ |  | 178,256 | ​ |  | 140,475
​ | ​ |  |  | ​ |  |
Stockholders' Equity: | ​ |  |  | ​ |  |
Common stock | ​ |  | 15,806 | ​ |  | 15,828
Additional paid-in capital | ​ |  | 275,807 | ​ |  | 274,785
Retained earnings | ​ |  | 300,804 | ​ |  | 245,836
Accumulated other comprehensive loss | ​ |  | 1,376 | ​ |  | (1,098)
Total stockholders' equity | ​ |  | 593,793 | ​ |  | 535,351
Total liabilities and stockholders' equity | ​ | $ | 772,049 | ​ | $ | 675,826
​ Note 21. Parent Company Only Financial Statements (continued) Condensed Statements of Income Years Ended December 31, 2020, 2019, and 2018 ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2020 |  | 2019 |  | 2018
​ | ​ | (dollars in thousands)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total interest income | ​ | $ | 29 | ​ | $ | 77 | ​ | $ | 88
Equity in net income of bank subsidiaries | ​ |  | 79,624 | ​ |  | 69,966 | ​ |  | 55,209
Equity in net income of nonbank subsidiaries | ​ |  | (261) | ​ |  | 6,797 | ​ |  | (436)
Other | ​ |  | 289 | ​ |  | 314 | ​ |  | (322)
Total income | ​ |  | 79,681 | ​ |  | 77,154 | ​ |  | 54,539
​ | ​ |  |  | ​ |  |  | ​ |  |
Interest expense | ​ |  | 6,662 | ​ |  | 5,836 | ​ |  | 3,637
Salaries and employee benefits | ​ |  | 11,825 | ​ |  | 8,739 | ​ |  | 6,598
Professional fees | ​ |  | 2,558 | ​ |  | 1,545 | ​ |  | 1,872
Acquisition costs | ​ |  | — | ​ |  | — | ​ |  | 1,654
Post-acquisition compensation, transition and integration costs | ​ |  | 145 | ​ |  | 3,171 | ​ |  | 165
Disposition costs | ​ | ​ | 312 | ​ | ​ | 1,606 | ​ | ​ | —
Goodwill impairment | ​ |  | 500 | ​ |  | 3,000 | ​ |  | —
Other | ​ |  | 2,505 | ​ |  | 2,147 | ​ |  | 1,026
Total expenses | ​ |  | 24,507 | ​ |  | 26,044 | ​ |  | 14,952
​ | ​ |  |  | ​ |  |  | ​ |  |
Income before income tax benefit | ​ |  | 55,174 | ​ |  | 51,110 | ​ |  | 39,587
​ | ​ |  |  | ​ |  |  | ​ |  |
Income tax benefit | ​ |  | 5,408 | ​ |  | 6,298 | ​ |  | 3,533
Net income | ​ | $ | 60,582 | ​ | $ | 57,408 | ​ | $ | 43,120
​ ​ Note 21. Parent Company Only Financial Statements (continued) Condensed Statements of Cash Flows Years Ended December 31, 2020, 2019, and 2018 ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2020 |  | 2019 |  | 2018
​ | ​ | (dollars in thousands)
Cash Flows from Operating Activities: |  | ​ |  |  | ​ |  |  | ​ |
Net income | ​ | $ | 60,582 | ​ | $ | 57,408 | ​ | $ | 43,120
Adjustments to reconcile net income to net cash provided by operating activities: | ​ |  |  | ​ |  |  | ​ |  |
Earnings of bank subsidiaries | ​ | ​ | (79,624) | ​ |  | (69,966) | ​ |  | (55,209)
Earnings (losses) of nonbank subsidiaries | ​ |  | 261 | ​ |  | (6,797) | ​ |  | 436
Distributions from bank subsidiaries | ​ |  | — | ​ |  | — | ​ |  | 34,500
Distributions from nonbank subsidiaries | ​ |  | 40 | ​ |  | 45,058 | ​ |  | 63
Deferred income taxes | ​ | ​ | 6,909 | ​ | ​ | 2,498 | ​ | ​ | 1,292
Accretion of acquisition fair value adjustments | ​ |  | 378 | ​ |  | 305 | ​ |  | 183
Depreciation | ​ |  | 454 | ​ |  | 327 | ​ |  | 249
Stock-based compensation expense | ​ |  | 2,150 | ​ |  | 2,469 | ​ |  | 1,443
Loss on sale of subsidiary | ​ | ​ | 158 | ​ | ​ | — | ​ | ​ | —
Goodwill impairment | ​ | ​ | 500 | ​ | ​ | 3,000 | ​ | ​ | —
Decrease (increase) in other assets | ​ |  | 1,663 | ​ |  | (2,472) | ​ |  | 940
Increase (decrease) in other liabilities | ​ |  | (14,966) | ​ |  | 7,814 | ​ |  | (7,226)
Net cash provided by (used in) operating activities | ​ |  | (21,495) | ​ |  | 39,644 | ​ |  | 19,791
​ | ​ |  |  | ​ |  |  | ​ |  |
Cash Flows from Investing Activities: | ​ |  |  | ​ |  |  | ​ |  |
Net increase in interest-bearing deposits at financial institutions | ​ |  | (1,599) | ​ |  | (4,600) | ​ |  | (1,000)
Capital infusion, bank subsidiaries | ​ |  | — | ​ |  | (8,600) | ​ |  | (3,500)
Capital infusion, non-bank subsidiaries | ​ | ​ | — | ​ | ​ | (100) | ​ | ​ | —
Net cash received in dissolution of subsidiary | ​ | ​ | 8,450 | ​ | ​ | — | ​ | ​ | —
Net cash paid for acquisitions | ​ |  | — | ​ |  | — | ​ |  | (5,183)
Net cash received in sale of subsidiary | ​ | ​ | 195 | ​ | ​ | — | ​ | ​ | —
Purchase of premises and equipment | ​ |  | (272) | ​ |  | (2,861) | ​ |  | (2,257)
Net cash provided by (used in) investing activities | ​ |  | 6,774 | ​ |  | (16,161) | ​ |  | (11,940)
​ | ​ |  |  | ​ |  |  | ​ |  |
Cash Flows from Financing Activities: | ​ |  |  | ​ |  |  | ​ |  |
Activity in other borrowings: | ​ |  |  | ​ |  |  | ​ |  |
Proceeds from other borrowings | ​ | ​ | — | ​ |  | — | ​ |  | 9,000
Paydown on revolving line of credit | ​ |  | — | ​ | ​ | (9,000) | ​ | ​ | —
Prepayments | ​ |  | — | ​ | ​ | (21,313) | ​ | ​ | —
Calls, maturities and scheduled payments | ​ | ​ | — | ​ |  | (1,799) | ​ |  | (12,550)
Proceeds from subordinated notes | ​ | ​ | 50,000 | ​ | ​ | 63,393 | ​ | ​ | —
Payment of cash dividends on common and preferred stock | ​ |  | (3,779) | ​ |  | (3,767) | ​ |  | (3,300)
Proceeds from issuance of common stock, net | ​ |  | 1,360 | ​ |  | 1,926 | ​ |  | 1,279
Repurchase and cancellation of shares | ​ |  | (3,779) | ​ |  | — | ​ |  | —
Net cash provided by (used in) financing activities | ​ |  | 43,802 | ​ |  | 29,440 | ​ |  | (5,571)
​ | ​ |  |  | ​ |  |  | ​ |  |
Net increase in cash and due from banks | ​ |  | 29,081 | ​ |  | 52,923 | ​ |  | 2,280
​ | ​ |  |  | ​ |  |  | ​ |  |
Cash and due from banks: | ​ |  |  | ​ |  |  | ​ |  |
Beginning | ​ |  | 59,529 | ​ |  | 6,606 | ​ |  | 4,326
Ending | ​ | $ | 88,610 | ​ | $ | 59,529 | ​ | $ | 6,606
​

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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 205 -SubTopic 10 -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04(Schedule I)) -URI http://asc.fasb.org/extlink&oid=120391182&loc=d3e5864-122674 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 Reference 3: 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(a)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690 + Details
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