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NOTE 4 - DERIVATIVES AND HEDGING ACTIVITIES (Tables) | 3 Months Ended
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Mar. 31, 2021
Notes Tables |
Summary of derivatives | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | March 31, 2021 |  | December 31, 2020
​ | ​ | (dollars in thousands)
Assets: | ​ | ​ | ​ | ​ | ​ | ​
Interest rate caps - hedged | ​ | $ | 892 | ​ | $ | 259
Interest rate caps | ​ |  | 231 | ​ |  | 67
Interest rate swaps | ​ |  | 121,545 | ​ |  | 222,431
​ | ​ | $ | 122,668 | ​ | $ | 222,757
​ | ​ | ​ | ​ | ​ | ​ | ​
Liabilities: | ​ | ​ | ​ | ​ | ​ | ​
Interest rate swaps - hedged | ​ | $ | (4,318) | ​ | $ | (6,839)
Interest rate swaps | ​ | ​ | (121,545) | ​ | ​ | (222,431)
​ | ​ | $ | (125,863) | ​ | $ | (229,270)
​ | ​ | ​ | ​ | ​ | ​ | ​
Schedule of hedged interest rate swaps and non-hedged interest rate swaps are collateralized by investment securities with carrying values | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | March 31, 2021 | ​ | December 31, 2020
​ | ​ | (dollars in thousands)
​ | ​ | ​ | ​ | ​ | ​ | ​
Cash | ​ | $ | 6,790 | ​ | $ | 45,719
U.S govt. sponsored agency securities | ​ | ​ | 3,612 | ​ | ​ | 3,628
Municipal securities | ​ | ​ | 85,895 | ​ | ​ | 85,937
Residential mortgage-backed and related securities | ​ |  | 78,733 | ​ |  | 89,646
​ | ​ | $ | 175,030 | ​ | $ | 224,930
​ | ​ | ​ | ​ | ​ | ​ | ​
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 | ​ | March 31, 2021 | ​ | ​ | December 31, 2020 | ​ | ​
(dollars in thousands) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Deposits | ​ | 1/1/2020 | ​ | 1/1/2023 | ​ | Other Assets | ​ | $ | 25,000 | ​ | 1.75 | % | ​ | $ | 8 | ​ | ​ | $ | 3 | ​ | ​
Deposits | ​ | 1/1/2020 | ​ | 1/1/2023 | ​ | Other Assets | ​ | ​ | 50,000 | ​ | 1.57 | ​ | ​ | ​ | 17 | ​ | ​ | ​ | 5 | ​ | ​
Deposits | ​ | 1/1/2020 | ​ | 1/1/2023 | ​ | Other Assets | ​ | ​ | 25,000 | ​ | 1.80 | ​ | ​ | ​ | 8 | ​ | ​ | ​ | 3 | ​ | ​
Deposits | ​ | 1/1/2020 | ​ | 1/1/2024 | ​ | Other Assets | ​ | ​ | 25,000 | ​ | 1.75 | ​ | ​ | ​ | 52 | ​ | ​ | ​ | 15 | ​ | ​
Deposits | ​ | 1/1/2020 | ​ | 1/1/2024 | ​ | Other Assets | ​ | ​ | 50,000 | ​ | 1.57 | ​ | ​ | ​ | 108 | ​ | ​ | ​ | 31 | ​ | ​
Deposits | ​ | 1/1/2020 | ​ | 1/1/2024 | ​ | Other Assets | ​ | ​ | 25,000 | ​ | 1.80 | ​ | ​ | ​ | 54 | ​ | ​ | ​ | 15 | ​ | ​
Deposits | ​ | 1/1/2020 | ​ | 1/1/2025 | ​ | Other Assets | ​ | ​ | 25,000 | ​ | 1.75 | ​ | ​ | ​ | 159 | ​ | ​ | ​ | 46 | ​ | ​
Deposits | ​ | 1/1/2020 | ​ | 1/1/2025 | ​ | Other Assets | ​ | ​ | 50,000 | ​ | 1.57 | ​ | ​ | ​ | 324 | ​ | ​ | ​ | 94 | ​ | ​
Deposits | ​ | 1/1/2020 | ​ | 1/1/2025 | ​ | Other Assets | ​ | ​ | 25,000 | ​ | 1.80 | ​ | ​ | ​ | 162 | ​ | ​ | ​ | 47 | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 300,000 | ​ | ​ | ​ | ​ | $ | 892 | ​ | ​ | $ | 259 | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
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 | ​ | ​ | March 31, 2021 | ​ | ​ | December 31, 2020 | ​ | ​
​ | ​ | (dollars in thousands) | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 1/1/2020 | ​ | 1/1/2023 | ​ | Other Assets | ​ | $ | 25,000 | ​ | 1.90 | % | ​ | $ | 7 | ​ | ​ | $ | 2 | ​ | ​
​ | ​ | 2/1/2020 | ​ | 2/1/2024 | ​ | Other Assets | ​ | ​ | 25,000 | ​ | 1.90 | ​ | ​ | ​ | 52 | ​ | ​ | ​ | 15 | ​ | ​
​ | ​ | 3/1/2020 | ​ | 3/1/2025 | ​ | Other Assets | ​ | ​ | 25,000 | ​ | 1.90 | ​ | ​ | ​ | 172 | ​ | ​ | ​ | 50 | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 75,000 | ​ | ​ | ​ | ​ | $ | 231 | ​ | ​ | $ | 67 | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
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 | ​ | March 31, 2021 | ​ | December 31, 2020
(dollars in thousands)
QCR Holdings Statutory Trust II |  | 9/30/2018 | ​ | 9/30/2028 | ​ | Derivatives - Liabilities |  | ​ | 10,000 | ​ | 3.05 | % | ​ |  | 5.85 | % | ​ | ​ | (1,113) | ​ | ​ | (1,767)
QCR Holdings Statutory Trust III |  | 9/30/2018 | ​ | 9/30/2028 | ​ | Derivatives - Liabilities |  | ​ | 8,000 | ​ | 3.05 | % | ​ |  | 5.85 | % | ​ | ​ | (891) | ​ | ​ | (1,414)
QCR Holdings Statutory Trust V |  | 7/7/2018 | ​ | 7/7/2028 | ​ | Derivatives - Liabilities |  | ​ | 10,000 | ​ | 1.79 | % | ​ |  | 4.54 | % | ​ | ​ | (1,091) | ​ | ​ | (1,721)
Community National Statutory Trust II |  | 9/20/2018 | ​ | 9/20/2028 | ​ | Derivatives - Liabilities |  | ​ | 3,000 | ​ | 2.36 | % | ​ |  | 5.17 | % | ​ | ​ | (334) | ​ | ​ | (529)
Community National Statutory Trust III |  | 9/15//2018 | ​ | 9/15/2028 | ​ | Derivatives - Liabilities |  | ​ | 3,500 | ​ | 1.93 | % | ​ |  | 4.75 | % | ​ | ​ | (389) | ​ | ​ | (616)
Guaranty Bankshares Statutory Trust I |  | 9/15/2018 | ​ | 9/15/2028 | ​ | Derivatives - Liabilities |  | ​ | 4,500 | ​ | 1.93 | % | ​ |  | 4.75 | % | ​ | ​ | (500) | ​ | ​ | (792)
​ |  |  | ​ | ​ | ​ | ​ |  | $ | 39,000 | ​ | 2.45 | % | ​ |  | 5.24 | % | ​ | $ | (4,318) | ​ | $ | (6,839)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Changes in the fair value of the underlying derivative contracts | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | March 31, 2021 | ​ | December 31, 2020
​ | ​ | ​ | Notional Amount | ​ | Estimated Fair Value | ​ | Notional Amount | ​ | Estimated Fair Value
​ | ​ | ​ | (dollars in thousands)
Non-Hedging Interest Rate Derivatives Assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate swap contracts | ​ | ​ | $ | 3,062,090 | ​ | $ | 121,545 | ​ | $ | 1,539,602 | ​ | $ | 222,431
Non-Hedging Interest Rate Derivatives Liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate swap contracts | ​ | ​ | $ | 3,062,090 | ​ | $ | 121,545 | ​ | $ | 1,539,602 | ​ | $ | 222,431

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