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v3.20.4

Note 7 - Derivatives and Hedging Activities (Tables) | 12 Months Ended
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Dec. 31, 2020
Notes Tables |
Summary of derivatives | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2020 |  | 2019
​ | ​ | (dollars in thousands)
Assets: | ​ | ​ | ​ | ​ | ​ | ​
Interest rate caps - hedged | ​ | $ | 259 | ​ | $ | 3,148
Interest rate caps | ​ |  | 67 | ​ |  | —
Interest rate swaps | ​ |  | 222,431 | ​ |  | 84,679
​ | ​ | $ | 222,757 | ​ | $ | 87,827
​ | ​ | ​ | ​ | ​ | ​ | ​
Liabilities: | ​ | ​ | ​ | ​ | ​ | ​
Interest rate swaps - hedged | ​ | $ | (6,839) | ​ | $ | (3,758)
Interest rate swaps | ​ | ​ | (222,431) | ​ | ​ | (84,679)
​ | ​ | $ | (229,270) | ​ | $ | (88,437)
​ | ​ | ​ | ​ | ​ | ​ | ​
Summary of impact of AOCI | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended
​ |  | December 31, 2020 |  | December 31, 2019
​ | ​ | (dollars in thousands)
​ | ​ | ​ | ​ | ​ | ​ | ​
Unrealized loss at beginning of period, net of tax | ​ | $ | (3,915) | ​ | $ | (1,276)
Amount reclassified from accumulated other comprehensive income to noninterest expense related to unhedging caplet | ​ |  | 513 | ​ |  | —
Amount reclassified from accumulated other comprehensive income to noninterest expense related to swap termination | ​ | ​ | 625 | ​ | ​ | —
Amount reclassified from accumulated other comprehensive income to interest expense related to caplet amortization | ​ |  | 551 | ​ |  | 422
Amount of loss recognized in other comprehensive income, net of tax | ​ |  | (5,406) | ​ |  | (3,061)
Unrealized loss at end of period, net of tax | ​ | $ | (7,632) | ​ | $ | (3,915)
Schedule of hedged interest rate swaps and non-hedged interest rate swaps are collateralized by investment securities with carrying values | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | December 31, 2020 | ​ | December 31, 2019
​ | ​ | (dollars in thousands)
​ | ​ | ​ | ​ | ​ | ​ | ​
Cash | ​ | $ | 45,719 | ​ | $ | —
U.S govt. sponsored agency securities | ​ | ​ | 3,628 | ​ | ​ | 3,541
Municipal securities | ​ | ​ | 85,937 | ​ | ​ | 22,924
Residential mortgage-backed and related securities | ​ |  | 89,646 | ​ |  | 72,090
​ | ​ | $ | 224,930 | ​ | $ | 98,555
​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate cap |
Notes Tables |
Schedule of interest rate caps | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | Balance Sheet | ​ | ​ | ​ | ​ | ​ | ​ | Fair Value as of | ​ | ​
Hedged Item | ​ | Effective Date | ​ | Maturity Date | ​ | Location | ​ | Notional Amount | ​ | Strike Rate | ​ | December 31, 2020 | ​ | ​ | December 31, 2019 | ​ | ​
(dollars in thousands) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Deposits | ​ | 1/1/2020 | ​ | 1/1/2023 | ​ | Other Assets | ​ | $ | 25,000 | ​ | 1.75 | % | ​ | $ | 3 | ​ | ​ | $ | 112 | ​ | ​
Deposits | ​ | 1/1/2020 | ​ | 1/1/2023 | ​ | Other Assets | ​ | ​ | 50,000 | ​ | 1.57 | ​ | ​ | ​ | 5 | ​ | ​ | ​ | 218 | ​ | ​
Deposits | ​ | 1/1/2020 | ​ | 1/1/2023 | ​ | Other Assets | ​ | ​ | 25,000 | ​ | 1.80 | ​ | ​ | ​ | 3 | ​ | ​ | ​ | 109 | ​ | ​
Deposits | ​ | 1/1/2020 | ​ | 1/1/2024 | ​ | Other Assets | ​ | ​ | 25,000 | ​ | 1.75 | ​ | ​ | ​ | 15 | ​ | ​ | ​ | 214 | ​ | ​
Deposits | ​ | 1/1/2020 | ​ | 1/1/2024 | ​ | Other Assets | ​ | ​ | 50,000 | ​ | 1.57 | ​ | ​ | ​ | 31 | ​ | ​ | ​ | 401 | ​ | ​
Deposits | ​ | 1/1/2020 | ​ | 1/1/2024 | ​ | Other Assets | ​ | ​ | 25,000 | ​ | 1.80 | ​ | ​ | ​ | 15 | ​ | ​ | ​ | 201 | ​ | ​
Deposits | ​ | 1/1/2020 | ​ | 1/1/2025 | ​ | Other Assets | ​ | ​ | 25,000 | ​ | 1.75 | ​ | ​ | ​ | 46 | ​ | ​ | ​ | 337 | ​ | ​
Deposits | ​ | 1/1/2020 | ​ | 1/1/2025 | ​ | Other Assets | ​ | ​ | 50,000 | ​ | 1.57 | ​ | ​ | ​ | 94 | ​ | ​ | ​ | 617 | ​ | ​
Deposits | ​ | 1/1/2020 | ​ | 1/1/2025 | ​ | Other Assets | ​ | ​ | 25,000 | ​ | 1.80 | ​ | ​ | ​ | 47 | ​ | ​ | ​ | 309 | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 300,000 | ​ | ​ | ​ | ​ | $ | 259 | ​ | ​ | $ | 2,518 | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Changes in the fair value of the underlying derivative contracts | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | Balance Sheet | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Fair Value as of | ​ | ​
​ | ​ | Effective Date | ​ | Maturity Date | ​ | Location | ​ | Notional Amount | ​ | Strike Rate | ​ | ​ | December 31, 2020 | ​ | ​ | December 31, 2019 | ​ | ​
​ | ​ | (dollars in thousands) | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 1/1/2020 | ​ | 1/1/2023 | ​ | Other Assets | ​ | $ | 25,000 | ​ | 1.90 | % | ​ | $ | 2 | ​ | ​ | $ | 96 | ​ | ​
​ | ​ | 2/1/2020 | ​ | 2/1/2024 | ​ | Other Assets | ​ | ​ | 25,000 | ​ | 1.90 | ​ | ​ | ​ | 15 | ​ | ​ | ​ | 202 | ​ | ​
​ | ​ | 3/1/2020 | ​ | 3/1/2025 | ​ | Other Assets | ​ | ​ | 25,000 | ​ | 1.90 | ​ | ​ | ​ | 50 | ​ | ​ | ​ | 332 | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 75,000 | ​ | ​ | ​ | ​ | $ | 67 | ​ | ​ | $ | 630 | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate swap |
Notes Tables |
Schedule of interest rate caps | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | Balance Sheet | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Fair Value as of
Hedged Item | ​ | Effective Date | ​ | Maturity Date | ​ | Location | ​ | Notional Amount | ​ | Receive Rate | ​ | ​ | Pay Rate | ​ | December 31, 2020 | ​ | December 31, 2019
(dollars in thousands)
QCR Holdings Statutory Trust II |  | 9/30/2018 | ​ | 9/30/2028 | ​ | Derivatives - Liabilities |  | ​ | 10,000 | ​ | 3.10 | % | ​ |  | 5.85 | % | ​ | ​ | (1,767) | ​ | ​ | (971)
QCR Holdings Statutory Trust III |  | 9/30/2018 | ​ | 9/30/2028 | ​ | Derivatives - Liabilities |  | ​ | 8,000 | ​ | 3.10 | % | ​ |  | 5.85 | % | ​ | ​ | (1,414) | ​ | ​ | (777)
QCR Holdings Statutory Trust V |  | 7/7/2018 | ​ | 7/7/2028 | ​ | Derivatives - Liabilities |  | ​ | 10,000 | ​ | 1.79 | % | ​ |  | 4.54 | % | ​ | ​ | (1,721) | ​ | ​ | (944)
Community National Statutory Trust II |  | 9/20/2018 | ​ | 9/20/2028 | ​ | Derivatives - Liabilities |  | ​ | 3,000 | ​ | 2.41 | % | ​ |  | 5.17 | % | ​ | ​ | (529) | ​ | ​ | (291)
Community National Statutory Trust III |  | 9/15//2018 | ​ | 9/15/2028 | ​ | Derivatives - Liabilities |  | ​ | 3,500 | ​ | 1.97 | % | ​ |  | 4.75 | % | ​ | ​ | (616) | ​ | ​ | (339)
Guaranty Bankshares Statutory Trust I |  | 9/15/2018 | ​ | 9/15/2028 | ​ | Derivatives - Liabilities |  | ​ | 4,500 | ​ | 1.97 | % | ​ |  | 4.75 | % | ​ | ​ | (792) | ​ | ​ | (436)
​ |  |  | ​ | ​ | ​ | ​ |  | $ | 39,000 | ​ | 2.48 | % | ​ |  | 5.24 | % | ​ | $ | (6,839) | ​ | $ | (3,758)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Changes in the fair value of the underlying derivative contracts | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | December 31, 2020 | ​ | ​ | December 31, 2019
​ | ​ | ​ | Notional Amount | ​ | Estimated Fair Value | ​ | Notional Amount | ​ | Estimated Fair Value
​ | ​ | ​ | (dollars in thousands)
Non-Hedging Interest Rate Derivatives Assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate swap contracts | ​ | ​ | $ | 1,539,602 | ​ | $ | 222,431 | ​ | $ | 787,221 | ​ | $ | 84,679
Non-Hedging Interest Rate Derivatives Liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate swap contracts | ​ | ​ | $ | 1,539,602 | ​ | $ | 222,431 | ​ | $ | 787,221 | ​ | $ | 84,679

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