<SEC-DOCUMENT>0001171843-24-003680.txt : 20240627
<SEC-HEADER>0001171843-24-003680.hdr.sgml : 20240627
<ACCEPTANCE-DATETIME>20240627161709
ACCESSION NUMBER:		0001171843-24-003680
CONFORMED SUBMISSION TYPE:	11-K
PUBLIC DOCUMENT COUNT:		5
CONFORMED PERIOD OF REPORT:	20231231
FILED AS OF DATE:		20240627
DATE AS OF CHANGE:		20240627

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			QCR HOLDINGS INC
		CENTRAL INDEX KEY:			0000906465
		STANDARD INDUSTRIAL CLASSIFICATION:	STATE COMMERCIAL BANKS [6022]
		ORGANIZATION NAME:           	02 Finance
		IRS NUMBER:				421397595
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		11-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-22208
		FILM NUMBER:		241079499

	BUSINESS ADDRESS:	
		STREET 1:		3551 7TH STREET
		CITY:			MOLINE
		STATE:			IL
		ZIP:			61265
		BUSINESS PHONE:		3097363580

	MAIL ADDRESS:	
		STREET 1:		3551 7TH STREET
		CITY:			MOLINE
		STATE:			IL
		ZIP:			61265

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	QUAD CITY HOLDINGS INC
		DATE OF NAME CHANGE:	19930805
</SEC-HEADER>
<DOCUMENT>
<TYPE>11-K
<SEQUENCE>1
<FILENAME>f11k_062824.htm
<DESCRIPTION>FORM 11-K
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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 16pt">UNITED STATES</FONT></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="font-size: 16pt">SECURITIES AND EXCHANGE COMMISSION</FONT></P>

<P STYLE="font-size: 10pt; font-style: italic; text-align: center; margin: 0pt 0"><FONT STYLE="font-size: 12pt; font-style: normal">Washington,
D.C. 20549</FONT></P>

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<P STYLE="font-size: 10pt; font-style: italic; text-align: center; margin: 0pt 0"><FONT STYLE="font-style: normal">_______________</FONT></P>

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<P STYLE="font-size: 10pt; font-style: italic; text-align: center; margin: 0pt 0"><FONT STYLE="font-size: 14pt; font-style: normal">FORM
11-K</FONT></P>

<P STYLE="font-size: 10pt; font-style: italic; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font-size: 10pt; margin: 0pt 0">(Mark One)</P>

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<TD STYLE="width: 0; text-align: right"></TD><TD STYLE="width: 0.5in">[ x ]</TD><TD STYLE="text-align: justify">Annual report pursuant to Section 15(d) of the Securities Exchange Act of 1934</TD>
</TR></TABLE>

<P STYLE="margin: 0pt; font-size: 10pt; text-indent: 0.5in">For the fiscal year ended <U>December 31, 2023&#9; </U>&#9;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0; text-align: right"></TD><TD STYLE="width: 0.5in">[&nbsp;&nbsp;&nbsp;]</TD><TD STYLE="text-align: justify">Transition report pursuant to Section 15(d) of the Securities Exchange Act of 1934</TD>
</TR></TABLE>

<P STYLE="margin: 0pt; font-size: 10pt; text-indent: 0.5in">For the transition period from __________________ to __________________</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt; font-size: 10pt; text-indent: 0.5in">Commission file number <U>333-77420&#9;</U></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: -1in; margin: 0pt 0 0pt 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">A.</TD><TD>Full title of the plan and the address of the plan, if different from that of the issuer named below:</TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-indent: -1in; margin: 0pt 0 0pt 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 50%; font-size: 10pt; font-weight: bold">QCR Holdings, Inc. 401(k) Plan</TD></TR>
  </TABLE>


<P STYLE="font-size: 10pt; text-indent: -1in; margin: 0pt 0 0pt 1in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">B.</TD><TD>Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:</TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-indent: -1in; margin: 0pt 0 0pt 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 50%; font-size: 10pt; font-weight: bold">QCR Holdings, Inc.</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold">3551 Seventh Street, Suite 204</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold">Moline, Illinois 61265</TD></TR>
  </TABLE>


<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>&nbsp;</B></P>

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<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>REQUIRED INFORMATION</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 0.5in">The QCR Holdings, Inc. 401(k) Plan is subject to the Employee Retirement
Income Security Act of 1974, as amended (&#8220;ERISA&#8221;). Accordingly, the financial statements prepared in accordance with ERISA
are provided as Exhibit 99.1 to this Form 11-K.</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 0.5in"><I>The Plan. </I>Pursuant to the requirements of the Securities Exchange
Act of 1934, the trustees (or other persons who administer the employee benefit plan) have duly caused this annual report to be signed
on its behalf by the undersigned hereunto duly authorized.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

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    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold">QCR HOLDINGS, INC.</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold">401(k) PLAN</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; font-weight: bold; width: 50%">&nbsp;</TD><TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 45%">&nbsp;</TD></TR>
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    <TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
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    <TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">Date: June 27, 2024</TD><TD STYLE="font-size: 10pt">By: </TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">/s/ Shellee R. Showalter</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">Shellee R. Showalter</TD></TR>
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<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B></B></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"><B>QCR HOLDINGS, INC. 401(k) PLAN</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>EXHIBIT INDEX</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>TO</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>ANNUAL REPORT ON FORM 11-K</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

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    <TD STYLE="text-align: left; white-space: nowrap; font-size: 10pt; border-bottom: Black 1pt solid">No.</TD><TD STYLE="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; border-bottom: Black 1pt solid">Description</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 10%; font-size: 10pt; text-align: left"><A HREF="exh_231.htm">23.1</A></TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 88%; font-size: 10pt; text-align: left"><A HREF="exh_231.htm">Consent of Plante &amp; Moran, PLLC</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: left"><A HREF="exh_991.htm">99.1</A></TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left"><A HREF="exh_991.htm">Financial Statements</A></TD></TR>
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<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt">4</FONT></P>


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<DOCUMENT>
<TYPE>EX-23.1
<SEQUENCE>2
<FILENAME>exh_231.htm
<DESCRIPTION>EXHIBIT 23.1
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<P STYLE="text-align: right; margin: 0"><B>Exhibit 23.1</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 50%"><IMG SRC="plantemoranlogo.jpg" ALT=""></TD>
  <TD STYLE="text-align: right; width: 50%"><IMG SRC="plantemoranaddress.jpg" ALT=""></TD></TR>
</TABLE>

<P STYLE="margin: 0"></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Consent of Independent Registered Public Accounting Firm</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">We consent to the incorporation by reference in the Registration Statement (No. 333-116022)
on Form S-8 of QCR Holdings, Inc. of our report dated June 26, 2024 relating to the financial statements and supplemental schedules of
QCR Holdings, Inc. 401(k) Plan appearing in the annual report on Form 11-K for the year ended December 31, 2023.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">/s/ Plante &amp; Moran, PLLC</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Chicago, Illinois</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">June 26, 2024</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>3
<FILENAME>exh_991.htm
<DESCRIPTION>EXHIBIT 99.1
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<P STYLE="text-align: right"><FONT STYLE="font-size: 10pt"><B>Exhibit 99.1</B></FONT></P>

<P STYLE="text-align: right"><FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="text-align: right"><FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT></p>

<P STYLE="font: bold 20pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 16pt"><B>QCR
Holdings, Inc.</B></FONT></P>

<P STYLE="font: bold 20pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 16pt"><B>401(k)
Plan</B></FONT></P>

<P STYLE="font: bold 10pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: bold 10pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>

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<P STYLE="font: bold 10pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT>&nbsp;</P>

<P STYLE="font: bold 14pt Calibri, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 16pt">Financial
Report</FONT></P>

<P STYLE="font: bold 14pt Calibri, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 16pt">December
31, 2023</FONT></P>

<P STYLE="font: bold 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0"></P>

<P STYLE="font: bold 20pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>QCR
Holdings, Inc. 401(k) Plan</B></FONT></P>

<P STYLE="font: bold 20pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B></B></FONT></P>

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<P STYLE="font: bold 20pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>Contents</B></FONT></P>

<P STYLE="font: bold 20pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: bold 20pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B></B></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 12pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 50%"><FONT STYLE="font-size: 10pt"><B><A HREF="#report">Report Letter</A></B></FONT></TD>
    <TD STYLE="text-align: right; width: 50%"><FONT STYLE="font-size: 10pt"><A HREF="#report">1</A></FONT></TD></TR>
  <TR STYLE="vertical-align: top; text-align: left">
    <TD><FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top; text-align: left">
    <TD><FONT STYLE="font-size: 10pt"><B><A HREF="#netassets">Statement of Net Assets Available for Benefits</A></B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt"><A HREF="#netassets">2</A></FONT></TD></TR>
  <TR STYLE="vertical-align: top; text-align: left">
    <TD><FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top; text-align: left">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><A HREF="#changesinnetassets">Statement of Changes in Net Assets Available for Benefits</A></B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt"><A HREF="#changesinnetassets">3</A></FONT></TD></TR>
  <TR STYLE="vertical-align: top; text-align: left">
    <TD><FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top; text-align: left">
    <TD><FONT STYLE="font-size: 10pt"><B><A HREF="#notesstart">Notes to Financial Statements</A></B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt"><FONT STYLE="font-weight: normal"><A HREF="#notesstart">4-</A><A HREF="#notesend">10</A></FONT></FONT></TD></TR>
  <TR STYLE="vertical-align: top; text-align: left">
    <TD><FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top; text-align: left">
    <TD><FONT STYLE="font-size: 10pt"><B><A HREF="#scheduleofassets">Schedule of Assets Held at End of Year</A></B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt"><FONT STYLE="font-weight: normal"><A HREF="#scheduleofassets">Schedule 1</A></FONT></FONT></TD></TR>
  <TR STYLE="vertical-align: top; text-align: left">
    <TD><FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top; text-align: left">
    <TD><FONT STYLE="font-size: 10pt"><B><A HREF="#scheduleoftransactions">Schedule of Nonexempt Transactions</A></B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt"><A HREF="#scheduleoftransactions">Schedule 2</A></FONT></TD></TR>
  </TABLE>

<P STYLE="font: bold 20pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B></B></FONT></P>

<P STYLE="font: 12pt Humanst521 BT; margin: 0; text-indent: 366.25pt">&nbsp;</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"></P>

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<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 50%"><IMG SRC="plantemoranlogo.jpg" ALT=""></TD>
  <TD STYLE="text-align: right; width: 50%"><IMG SRC="plantemoranaddress.jpg" ALT=""></TD></TR>
</TABLE>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B></B></FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B><A NAME="report"></A>Report
of Independent Registered Public Accounting Firm</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt; font-size: 10pt">To the Plan Administrator and Plan Participants</P>

<P STYLE="margin: 0pt; font-size: 10pt">QCR Holdings, Inc. 401(k) Plan</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt; font-size: 10pt"><I>Opinion on the Financial Statements</I></P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 1.95pt"><B><I>&nbsp;</I></B></P>

<P STYLE="text-align: justify; margin: 0pt; font-size: 10pt">We have audited the accompanying statement of net assets
available for benefits of the QCR Holdings, Inc 401(k) Plan (the &ldquo;Plan&rdquo;) as of December 31, 2023 and 2022, and the related
statement of changes in net assets available for benefits for the years then ended, and the related notes (collectively referred to as
the &ldquo;financial statements&rdquo;). In our opinion, the financial statements present fairly, in all material respects, the net assets
of the Plan as of December 31, 2023 and 2022, and the changes in its net assets for the years then ended, in conformity with accounting
principles generally accepted in the United States of America.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 5.1pt 0pt 1.95pt">&nbsp;</P>

<P STYLE="margin: 0pt; text-align: justify; font-size: 10pt"><I>Basis of Opinion</I></P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 1.95pt"><B><I>&nbsp;</I></B></P>

<P STYLE="margin: 0pt; text-align: justify; font-size: 10pt">The Plan&rsquo;s management is responsible for these financial
statements. Our responsibility is to express an opinion on the Plan&rsquo;s financial statements based on our audits. We are a public
accounting firm registered with the Public Company Accounting Oversight Board (United States) (&ldquo;PCAOB&rdquo;) and are required to
be independent with respect to the Plan in accordance with the U.S. federal securities laws and the applicable rules and regulations of
the Securities and Exchange Commission and the PCAOB.</P>

<P STYLE="margin: 0pt; text-align: justify; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt; text-align: justify; font-size: 10pt">We conducted our audits in accordance with the standards
of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements
are free of material misstatement, whether due to error or fraud. The Plan is not required to have, nor were we engaged to perform, an
audit of its internal control over financial reporting. As part of our audits, we are required to obtain an understanding of internal
control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Plan&rsquo;s internal control
over financial reporting. Accordingly, we express no such opinion.</P>

<P STYLE="margin: 0pt 5.2pt 0pt 1.95pt; font-size: 10pt; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0pt; text-align: justify; font-size: 10pt">Our audits included performing procedures to assess the
risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those
risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.
Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating
the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt; text-align: justify; font-size: 10pt"><I>Supplemental Information</I></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B><I>&nbsp;</I></B></P>

<P STYLE="margin: 0pt; text-align: justify; font-size: 10pt">The supplemental information in the accompanying schedules
of assets held at end of year as of December 31, 2023 and nonexempt transactions for the year ended December 31, 2023 have been subjected
to audit procedures performed in conjunction with the audit of the Plan&rsquo;s financial statements. The supplemental information is
the responsibility of the Plan&rsquo;s management. Our audit procedures included determining whether the supplemental information reconciles
to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness
and accuracy of the information presented in the supplemental information. In forming our opinion on the supplemental information, we
evaluated whether the supplemental information, including its form and content, is presented in conformity with Department of Labor&rsquo;s
Rules and Regulations for Reporting under the Employee Retirement Income Security Act of 1974. In our opinion, the supplemental information
is fairly stated, in all material respects, in relation to the financial statements as a whole.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 5.15pt 0pt 1.95pt">&nbsp;</P>

<P STYLE="margin: 0pt; text-align: justify; font-size: 10pt"></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 5.15pt 0pt 1.95pt"></P>

<P STYLE="margin: 0pt; text-align: justify; font-size: 10pt">/s/ Plante &amp; Moran, PLLC</P>

<P STYLE="margin: 0pt; text-align: justify; font-size: 10pt">We have served as the Plan&rsquo;s auditor since 2008.</P>

<P STYLE="margin: 0pt; text-align: justify; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt; text-align: justify; font-size: 10pt">Chicago, Illinois</P>

<P STYLE="margin: 0pt; text-align: justify; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">June 26, 2024</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="font: 13pt Calibri, Helvetica, Sans-Serif; margin: 0"></P>

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<P STYLE="font: 13pt Calibri, Helvetica, Sans-Serif; margin: 0">

<P STYLE="font: bold 20pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>QCR
Holdings, Inc. 401(k) Plan</B></FONT></P>

<P STYLE="font: bold 20pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B></B></FONT></P>

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<P STYLE="font: bold 10pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B></B></FONT></P>

<P STYLE="font: bold 20pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: bold 20pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; text-align: center"></P>

<P STYLE="font: bold 13pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 24pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><A NAME="netassets"></A>Statement
of Net Assets Available for Benefits</FONT></p>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Humanst521 BT">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="text-align: center; border-bottom: Black 1pt solid">December 31</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">2023</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">2022</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: 400; font-style: normal; text-align: left"><FONT STYLE="font-size: 10pt">Assets<FONT STYLE="font-family: Humanst521 BT, sans-serif; font-style: normal; font-weight: 400"></FONT></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 70%; text-align: left; padding-left: 42px">Investments at fair value</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD>
    <TD STYLE="width: 12%; text-align: right">124,090,617</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD>
    <TD STYLE="width: 12%; text-align: right">98,566,511</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 42px">Participant notes receivable</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">1,354,384</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">932,900</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 42px">Employer contribution receivable</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">3,209,151</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">2,998,428</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Net Assets Available for Benefits</TD>
    <TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">128,654,152</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">102,497,839</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt">See Notes to Financial Statements.</FONT></P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt"></FONT></P>

<P STYLE="font: bold 20pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"></FONT></P>

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<P STYLE="font: bold 20pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>QCR
Holdings, Inc. 401(k) Plan</B></FONT></P>

<P STYLE="font: bold 20pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B></B></FONT></P>

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<P STYLE="font: bold 20pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B></B></FONT></P>

<P STYLE="font: bold 20pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: bold 20pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B></B></FONT></P>

<P STYLE="text-align: right; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 12pt"><B><A NAME="changesinnetassets"></A>Statement
of Changes in Net Assets Available for Benefits</B></FONT></P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt"><B></B></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Humanst521 BT">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="text-align: center; border-bottom: Black 1pt solid">Year Ended December 31</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">2023</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">2022</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left">Additions to Net Assets</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 20pt">Contributions:</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 70%; text-align: left; padding-left: 30pt">Employer</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD>
    <TD STYLE="width: 12%; text-align: right">3,209,150</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD>
    <TD STYLE="width: 12%; text-align: right">2,998,428</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 30pt">Participant</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">7,445,400</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">6,781,287</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 30pt">Rollover</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">2,706,904</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">3,562,758</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 84px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 50pt">Total contributions</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">13,361,454</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">13,342,473</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 84px">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 20pt">Investment income:</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 30pt">Interest and dividends</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">2,037,671</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">1,510,937</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 30pt">Net realized and unrealized gains (losses) on investments</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">17,858,099</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">(23,759,880</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 50pt">Total investment income (loss)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">19,895,770</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">(22,248,943</TD>
    <TD STYLE="text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 168px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 30pt">Interest from participant notes receivable</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">66,183</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">46,299</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 50pt">Total additions - Net</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">33,323,407</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">(8,860,171</TD>
    <TD STYLE="text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left">Deductions from Net Assets</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 20pt">Benefits paid to participants</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">6,920,250</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">7,251,433</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 20pt">Administrative expenses</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">246,844</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">236,294</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 50pt">Total deductions</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">7,167,094</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">7,487,727</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left">Net Increase (Decrease) in Net Assets Available for Benefits</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">26,156,313</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">(16,347,898</TD>
    <TD STYLE="text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left">Net Assets Available for Benefits</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 20pt">Beginning of year</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">102,497,839</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">118,845,737</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 42px">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt; padding-left: 20pt">End of year</TD>
    <TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">128,654,152</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">102,497,839</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt">See Notes to Financial Statements.</FONT></P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0"></P>

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<P STYLE="font: 12pt Humanst521 BT; margin: 0"></P>

<P STYLE="font: bold 20pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>QCR
Holdings, Inc. 401(k) Plan</B></FONT></P>

<P STYLE="font: bold 20pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B></B></FONT></P>

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<P STYLE="font: bold 20pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B></B></FONT></P>

<P STYLE="font: bold 13pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: right">&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><A NAME="notesstart"></A>Notes
to Financial Statements</FONT></P>

<P STYLE="font: bold 13pt Calibri, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">December
31, 2023 and 2022</FONT></P>

<P STYLE="font: bold 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 12pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Note
1 - Description of the Plan</FONT></P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 11pt 0.8in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following description of the QCR Holdings, Inc. 401(k) (the &#8220;Plan&#8221;) provides only general information. Participants should
refer to the plan agreement for a complete description of the Plan&#8217;s provisions.</FONT></P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 11pt 0.8in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>General
</B>- The Plan is a defined contribution plan covering substantially all employees of QCR Holdings, Inc., and its subsidiaries, Quad City
Bank and Trust Company, Cedar Rapids Bank and Trust Company, Community State Bank, Springfield First Community Bank (merged into Guaranty
Bank in 2022), Guaranty Bank, and m2 Equipment Finance LLC, (collectively referred to as the &#8220;Company&#8221;) who are at least 18
years of age. The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974 (ERISA).</FONT></P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 11pt 0.8in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Contributions
</B>- Participants may contribute up to 100 percent of their eligible compensation in the form of a salary reduction, subject to certain
limitations. Participants may also contribute amounts representing distributions from other qualified defined benefit or defined contribution
plans in the form of a rollover contributions.</FONT></P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 11pt 0.8in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
2021, the Company remitted certain employee contributions to the Plan after the Department of Labor&#8217;s required timeframe. A contribution
of lost earnings was made in 2022.</FONT></P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 11pt 0.8in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company makes discretionary matching contributions equal to 100 percent of the first 3 percent of the participant&#8217;s compensation
deferred and 50 percent of the next 3 percent of compensation deferred. The Company&#8217;s profit-sharing contribution to the Plan is
discretionary and is determined annually by the board of directors. There were no discretionary profit-sharing contributions made for
the years ended December 31, 2023 and 2022. Participants must complete 1,000 hours of service during the plan year and be actively employed
on the last day of the plan year or have terminated employment due to death, disability, or retirement in order to be eligible for matching
or profit-sharing contributions.</FONT></P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 11pt 0.8in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Participant
Accounts</B> - Each participant&#8217;s account is credited with the participant&#8217;s contribution and the Company&#8217;s matching
contribution, allocations of the Company&#8217;s discretionary profit-sharing contribution, plan earnings (losses), and administrative
expenses. Allocations of the Company&#8217;s profit-sharing contribution are based on participant eligible wages. Allocations of the plan
earnings are based on account balances. The benefit to which a participant is entitled is the benefit that can be provided from the participant&#8217;s
vested account.</FONT></P>

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<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0pt 0in; text-align: justify">

<P STYLE="font: bold 20pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>QCR
Holdings, Inc. 401(k) Plan</B></FONT></P>

<P STYLE="font: bold 20pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B></B></FONT></P>

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<P STYLE="font: bold 20pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B></B></FONT></P>

<P STYLE="font: bold 13pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: right">&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Notes
to Financial Statements</FONT></P>

<P STYLE="font: bold 13pt Calibri, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">December
31, 2023 and 2022</FONT></P>

<P STYLE="font: 13pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B></B></FONT></P>

<P STYLE="font: bold 12pt Calibri, Helvetica, Sans-Serif; text-align: left; margin-top: 0; margin-right: 0; margin-bottom: 12pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Note
1 - Description of the Plan (Continued)</FONT></P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 12pt 0.8in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Investment
Options</B> - Participants were able to select from various investments, including mutual funds, a common collective trust fund, and QCR
Holdings, Inc. common stock, during the years ended December 31, 2023 and 2022. All contributions are allocated according to the participants&#8217;
investment directions.</FONT></P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 12pt 0.8in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Vesting
</B>- Participants are immediately vested in their voluntary contributions and actual earnings thereon. Vesting in the Company&#8217;s
discretionary matching contribution, discretionary profit-sharing contribution, and earnings thereon is based on years of service. Vesting
is based on years of continuous service beginning at 20 percent after 1 year of service and increasing 20 percent for each year of continuous
service thereafter. A participant is 100 percent vested after 5 years of continuous service.</FONT></P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 12pt 0.8in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Participant
Notes Receivable </B>- The Plan allows eligible participants to borrow up to the lesser of one-half of their vested balance or $50,000
from the Plan. Under the terms of this provision, borrowings are subject to certain limitations, including a minimum borrowing of $1,000
and a maximum term of five years or a reasonable period of time, which may exceed five years for notes receivable used to acquire a principal
residence. For the years ended December 31, 2023 and 2022, interest rates were fixed at the prime rate plus 1 percent at the note inception
date. Principal and interest are paid through payroll deductions.</FONT></P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 12pt 0.8in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Payment
of Benefits </B>- Upon termination of service due to death, retirement, or disability, participants or their beneficiaries may elect either
a lump-sum payment equal to the value of their account or monthly installments over a period not to exceed their life expectancy. For
termination of service for other reasons, a participant may receive the value of the vested interest in his or her account as a lump-sum
distribution. Involuntary distributions, in the form of rollovers, are made from terminated participant accounts with balances less than
$5,000 Under certain circumstances, participants may receive a hardship distribution prior to termination upon approval of the plan administrator.
Upon attaining the age of 59 1/2, participants are eligible to receive in-service distributions of all vested balances.</FONT></P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 12pt 0.8in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Forfeitures
</B>- The Company may elect to have forfeitures of terminated participants&#8217; nonvested employer match and profit-sharing portions
of their accounts used to pay administrative plan expenses or reduce future Company matching and profit-sharing contributions.</FONT></P>

<P STYLE="font: 13pt Calibri, Helvetica, Sans-Serif; margin: 0"></P>

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<P STYLE="font: 13pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT>

<P STYLE="font: bold 20pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>QCR
Holdings, Inc. 401(k) Plan</B></FONT></P>

<P STYLE="font: bold 20pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B></B></FONT></P>

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<P STYLE="font: bold 20pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B></B></FONT></P>

<P STYLE="font: bold 13pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: right">&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Notes
to Financial Statements</FONT></P>

<P STYLE="font: bold 13pt Calibri, Helvetica, Sans-Serif; margin: 0pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">December
31, 2023 and 2022</FONT></P>

<P STYLE="font: bold 13pt Calibri, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: right"></P>

<P STYLE="font: bold 12pt Calibri, Helvetica, Sans-Serif; text-align: left; margin-top: 0; margin-bottom: 12pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Note
2 &#8211; Summary of Significant Accounting Policies</FONT></P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 12pt 0.8in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Revenue
Sharing </B>- The Company has a revenue sharing agreement in place whereby fees earned by some of the mutual fund companies are shared
with the Plan, which are used for the benefit of the Plan to pay administrative expenses. For the years ended December 31, 2023 and 2022,
expenses to the Plan were reduced by $17,015 and $19,275, respectively, as these were paid under the revenue sharing agreement.</FONT></P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 0.8in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Investment
Valuation </B>- The Plan&#8217;s investments are stated at fair value. The common collective trust fund is valued at net asset value
per share (or its equivalent) of the fund, which is based on the fair value of the fund underlying net assets. There were no unfunded
commitments or redemption restrictions on the common collective trust fund. Shares of mutual funds and Company common stock are valued
at quoted market prices.</FONT></P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 0.8in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 0.8in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
methods described above may produce a fair value calculation that may not be indicative of net realizable value or reflective of future
fair values. Furthermore, while the Plan believes its valuation methods are appropriate and consistent with other market participants,
the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in different
fair value measurements at the reporting date.</FONT></P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 0.8in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt 0.8in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Participant
Notes Receivable</B> - Participant notes receivable are recorded at their unpaid principal balance plus any accrued interest. Participant
notes receivable are written off and considered deemed distributions in the quarter after the notes receivable become delinquent.</FONT></P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt 0.8in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Payment
of Benefits </B>- Benefits are recorded when paid.</FONT></P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt 0.8in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Expenses
</B>- Certain administrative and operating expenses are paid by the Plan&#8217;s sponsor.</FONT></P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt 0.8in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Use
of Estimates </B>- The preparation of financial statements in conformity with accounting principles generally accepted in the United
States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and
changes therein, and disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of
additions and deductions during the reporting period. Actual results could differ from those estimates.</FONT></P>




<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0"></P>

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<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0"><P STYLE="font: bold 20pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>QCR
Holdings, Inc. 401(k) Plan</B></FONT></P>

<P STYLE="font: bold 20pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B></B></FONT></P>

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<P STYLE="font: bold 20pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B></B></FONT></P>

<P STYLE="font: bold 13pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: right">&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Notes
to Financial Statements</FONT></P>

<P STYLE="font: bold 13pt Calibri, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">December
31, 2023 and 2022</FONT></P>

<P STYLE="font: bold 13pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: right"></P>

<P STYLE="font: bold 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 12pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Note
2 - Summary of Significant Accounting Policies (Continued)</FONT></P>

<P STYLE="font: bold 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 12pt 0.8in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Risks
and Uncertainties <FONT STYLE="font-weight: normal">- The Plan invests in various investment securities. Investment securities are exposed
to various risks such as interest rate, market, and credit risks. Due to the level of risk associated with certain investment securities,
it is at least reasonably possible that changes in the values of investment securities will occur in the near term and that such changes
could materially affect participants&#8217; account balances and the amounts reported in the financial statements.</FONT></FONT></P>

<P STYLE="font: bold 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Note
3 - Fair Value Measurement of Investments</FONT></P>

<P STYLE="font: bold 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 58.5pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Plan accounts for its financial assets in accordance with Accounting Standards Codification 820, Fair Value Measurements and Disclosures
(ASC 820), which are carried at fair value on a recurring basis in its financial statements. ASC 820 establishes a fair value hierarchy
that requires assets measured at fair value to be categorized into one of three levels based on the inputs used in the valuation. Assets
are classified in their entirety based on the lowest level of input significant to the fair value measurement. The three levels are defined
as follows:</FONT></P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 58.5pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 58.5pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Level
1</B>  &#8211; Quoted prices in active markets for identical assets that the Plan has the ability to access.</FONT></P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 58.5pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 58.5pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Level
2</B> &#8211; Observable inputs, other than Level 1 prices, such as quoted prices for similar assets in active markets, and other inputs
such as interest rates and yield curves that are observable at commonly quoted intervals.</FONT></P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 58.5pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 58.5pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Level
3</B> &#8211; Unobservable inputs, including inputs that are available in situations where there is little, if any, market activity
for the related asset.&nbsp; These Level 3 fair value measurements are based primarily on management&#8217;s own estimates using
pricing models, discounted cash flow methodologies, or similar techniques taking into account the characteristics of the
asset.&nbsp;</FONT></P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 58.5pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 58.5pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
instances where inputs used to measure fair value fall into different levels in the above fair value hierarchy, fair value measurements
in their entirety are categorized based on the lowest level input that is significant to the valuation. The Plan&#8217;s assessment of
the significance of particular inputs to these fair value measurements requires judgment and considers factors specific to each asset.</FONT></P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 3.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>




<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0"></P>

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<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0"><P STYLE="font: bold 20pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>QCR
Holdings, Inc. 401(k) Plan</B></FONT></P>

<P STYLE="font: bold 20pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B></B></FONT></P>

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<P STYLE="font: bold 20pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B></B></FONT></P>

<P STYLE="font: bold 13pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: right">&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Notes
to Financial Statements</FONT></P>

<P STYLE="font: bold 13pt Calibri, Helvetica, Sans-Serif; margin: 0pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">December
31, 2023 and 2022</FONT></P>

<P STYLE="font: bold 13pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 12pt Calibri, Helvetica, Sans-Serif; text-align: left; margin-top: 0; margin-bottom: 12pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Note
3 - Fair Value Measurement of Investments (Continued)</FONT></P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 58.5pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Plan&#8217;s policy is to recognize transfers between levels of the fair value hierarchy as of the actual date of the event of change
in circumstances that caused the transfer.</FONT></P>

<P STYLE="font: 12pt Humanst521 BT; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Humanst521 BT; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 12pt Humanst521 BT; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Assets
Measured at Fair Value on a Recurring Basis at December 31, 2023</B></FONT></P>

<P STYLE="font: 12pt Humanst521 BT; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Humanst521 BT; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Humanst521 BT">
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">Total</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">Level 1</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 70%; text-align: left">Mutual funds</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">108,259,409</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">108,259,409</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">QCR Holdings, Inc. common stock</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">12,841,124</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">12,841,124</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Total investments measured at fair value</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">121,100,533</TD><TD STYLE="border-bottom: Black 2.5pt double; padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">121,100,533</TD><TD STYLE="border-bottom: Black 2.5pt double; padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Investments measured at net asset value:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common collective trust fund</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">2,990,084</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total investments at fair value</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">124,090,617</TD><TD STYLE="border-bottom: Black 2.5pt double; padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 12pt Humanst521 BT; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: bold 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 12pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>

<P STYLE="text-align: center; font: bold 12pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Assets
Measured at Fair Value on a Recurring Basis at December 31, 2022</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Humanst521 BT">
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">Total</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">Level 1</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 70%; text-align: left">Mutual funds</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">84,134,022</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">84,134,022</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">QCR Holdings, Inc. common stock</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">10,953,049</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">10,953,049</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Total investments measured at fair value</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">95,087,071</TD><TD STYLE="border-bottom: Black 2.5pt double; padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">95,087,071</TD><TD STYLE="border-bottom: Black 2.5pt double; padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Investments measured at net asset value:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common collective trust fund</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">3,479,440</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total investments at fair value</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">98,566,511</TD><TD STYLE="border-bottom: Black 2.5pt double; padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: bold 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 12pt"></P>

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<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0"><P STYLE="font: bold 20pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>QCR
Holdings, Inc. 401(k) Plan</B></FONT></P>

<P STYLE="font: bold 20pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B></B></FONT></P>

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<P STYLE="font: bold 20pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B></B></FONT></P>

<P STYLE="font: bold 13pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: right">&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Notes
to Financial Statements</FONT></P>

<P STYLE="font: bold 13pt Calibri, Helvetica, Sans-Serif; margin: 0pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">December
31, 2023 and 2022</FONT></P>

<P STYLE="font: bold 13pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: bold 12pt Calibri, Helvetica, Sans-Serif; text-align: left; margin-top: 0; margin-bottom: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: bold 12pt Calibri, Helvetica, Sans-Serif; text-align: left; margin-top: 0; margin-bottom: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Note
4 - Related Party Transactions</FONT></P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 11pt 0.8in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certain
plan investments include investments in shares of the Company&#8217;s common stock. For the years ended December 31, 2023 and 2022, the
Plan purchased 21,147 and 16,075 shares of QCR Holdings, Inc. common stock, respectively, at a cost of $987,055 and $870,952, respectively.
For the years ended December 31, 2023 and 2022, the Plan sold 21,877 and 14,269 shares of QCR Holdings, Inc. common stock, respectively,
with proceeds of $1,232,037 and $781,691, respectively. As of December 31, 2023 and 2022, the Plan held $12,841,124 (219,920 shares)
and $10,953,049 (220,650 shares), respectively, of QCR Holdings, Inc. common stock.</FONT></P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 11pt 0.8in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
addition, the Company pays certain expenses for the Plan. These transactions qualify as party&#45;in&#45;interest transactions as defined
under ERISA guidelines.</FONT></P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 11pt 0.8in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
2023, certain nonexempt transactions with a party-in-interest occurred when the Company contributed funds to the Plan for participants
that were then reversed. The Company reimbursed the participants directly and then requested the funds be returned to the Company instead
of moving the amounts to the forfeitures account. This transaction is reported on the schedule of nonexempt transactions. The Company
intends to reimburse the Plan for the reported amount and related lost earnings.</FONT></P>

<P STYLE="font: bold 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 6pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Note
5 - Plan Termination</FONT></P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 11pt 0.8in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Although
it has not expressed any intent to do so, the Company has the right under the Plan to discontinue its contributions at any time and to
terminate the Plan subject to the provisions of ERISA. In the event of termination of the Plan, the accounts of all participants shall
become 100 percent vested and shall be distributed to the participants or their beneficiaries.</FONT></P>

<P STYLE="font: bold 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 6pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Note
6 - Tax Status</FONT></P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 6pt 0.8in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company&#8217;s Board of Directors adopted a pre-approved 401(k) plan document. The plan sponsor has received, from the Internal Revenue
Service, an opinion letter dated June 30, 2020, stating that the written form of the underlying pre-approved plan is qualified under
Section 401(a) of the Internal Revenue Code (the &#8220;Code&#8221;) and that any employer adopting this form of the Plan will be considered
to have a plan qualified under Sections 401(a) of the Code. The Plan is required to operate in conformity with the Code to maintain its
qualification. The plan administrator believes the Plan is being operated in compliance with the applicable requirements of the Code
and, therefore, believes the Plan is qualified and the related trust is tax exempt. The plan administrator believes the Plan is no longer
subject to tax examinations for years prior to 2020.</FONT></P>




<P STYLE="font: bold 13pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: right"></P>

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<P STYLE="font: bold 13pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: right"></P>

<P STYLE="font: bold 20pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>QCR
Holdings, Inc. 401(k) Plan</B></FONT></P>

<P STYLE="font: bold 20pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B></B></FONT></P>

<!-- Field: Rule-Page --><DIV STYLE="margin: 3pt auto; width: 100%"><DIV STYLE="border-top: Black 2pt solid; font-size: 1pt">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: bold 20pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B></B></FONT></P>

<P STYLE="font: bold 13pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: right">&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><A NAME="notesend"></A>Notes
to Financial Statements</FONT></P>

<P STYLE="font: bold 13pt Calibri, Helvetica, Sans-Serif; margin: 0pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">December
31, 2023 and 2022</FONT></P>

<P STYLE="font: bold 13pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: bold 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 12pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: bold 12pt Calibri, Helvetica, Sans-Serif; text-align: left; margin-top: 0; margin-bottom: 12pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Note
7 &#8211; Reconciliation of the Financial Statements to Form 5500</FONT></P>

<P STYLE="text-align: justify; font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0pt 12pt 0.8in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal">The
following is a reconciliation of net assets available for benefits per the financial statements at December 31, 2023 and 2022 to the
Form 5500:</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Humanst521 BT">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">2023</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">2022</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 70%; text-align: left; padding-left: 0pt"><P STYLE="margin-left: 60pt; text-indent: -60pt; margin-top: 0; margin-bottom: 0">Net assets available for benefits per the financial</P>
                                                                 <P STYLE="text-indent: 20pt; margin-top: 0; margin-bottom: 0">statements</P></TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">128,654,152</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">102,497,839</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 0pt"><P STYLE="margin-left: 40pt; text-indent: -40pt; margin-top: 0; margin-bottom: 0">Difference in valuation of the common collective trust</P>
                                                                          <P STYLE="text-indent: 20pt; margin-top: 0; margin-bottom: 0">fund from net asset value to fair value</P></TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(178,334</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(250,731</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Net assets available for benefits per Form 5500</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">128,475,818</TD><TD STYLE="border-bottom: Black 2.5pt double; padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">102,247,108</TD><TD STYLE="border-bottom: Black 2.5pt double; padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: bold 12pt Humanst521 XBd BT; margin: 0 0 12pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>

<P STYLE="text-align: justify; font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 49.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal"></FONT></P>

<P STYLE="text-align: justify; font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0pt 12pt 0.8in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal">The
following is a reconciliation of net increase (decrease) in net assets available for benefits per the financial statements at December
31, 2023 and 2022 to the Form 5500:</FONT></P>

<P STYLE="font: bold 13pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Humanst521 BT">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">2023</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">2022</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 70%; text-align: left; padding-left: 0pt"><P STYLE="text-indent: 0pt; margin-top: 0; margin-bottom: 0">Net increase (decrease) in net assets available for benefits</P>
                                                                 <P STYLE="text-indent: 20pt; margin-top: 0; margin-bottom: 0">per the financial statements</P></TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">26,156,313</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">(16,347,898</TD><TD STYLE="width: 1%; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 0pt"><P STYLE="margin-top: 0; margin-bottom: 0">Difference in valuation of the common collective trust</P>
                                                                          <P STYLE="text-indent: 20pt; margin-top: 0; margin-bottom: 0">fund from net asset value to fair value</P></TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">72,397</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(281,102</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 0pt; padding-left: 0pt"><P STYLE="margin-top: 0; margin-bottom: 0">Net increase (decrease) in net assets available for benefits</P>
                                                                            <P STYLE="margin-left: 20pt; margin-top: 0; margin-bottom: 0">per Form 5500</P></TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">26,228,710</TD><TD STYLE="border-bottom: Black 2.5pt double; padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(16,629,000</TD><TD STYLE="border-bottom: Black 2.5pt double; padding-bottom: 2.5pt; text-align: left">)</TD></TR>
  </TABLE>

<P STYLE="font: bold 13pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: bold 13pt Humanst521 XBd BT; margin: 0; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT>&nbsp;</P>

<P STYLE="font: bold 13pt Humanst521 XBd BT; margin: 0; text-align: left"></P>

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<P STYLE="font: bold 13pt Humanst521 XBd BT; margin: 0; text-align: left"></P>

<P STYLE="font: bold 13pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: right"></P>



<P STYLE="font: bold 20pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>QCR
Holdings, Inc. 401(k) Plan</B></FONT></P>

<P STYLE="font: bold 20pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B></B></FONT></P>

<!-- Field: Rule-Page --><DIV STYLE="margin: 3pt auto; width: 100%"><DIV STYLE="border-top: Black 2pt solid; font-size: 1pt">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: bold 20pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B></B></FONT></P>

<P STYLE="font: bold 13pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: right">&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><A NAME="scheduleofassets"></A>Schedule
of Assets Held at End of Year</FONT></P>

<P STYLE="font: bold 13pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Form
5500, Schedule H, Item 4i</FONT></P>

<P STYLE="font: bold 13pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">EIN
42-1397595, Plan Number 001</FONT></P>

<P STYLE="font: bold 13pt Calibri, Helvetica, Sans-Serif; margin: 0 0 14pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">December
31, 2023</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Humanst521 BT">
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="text-align: center">(a)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">(b)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">(c)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">(d)</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">(e)</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: center; border-bottom: Black 1pt solid">Issue</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: center; border-bottom: Black 1pt solid">Description</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">Cost</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">Current Value</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 1%; text-align: center">&nbsp;</TD><TD STYLE="vertical-align: top; width: 3%; text-align: center">&nbsp;**&nbsp;</TD><TD STYLE="width: 1%; text-align: center">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 50%; text-align: left">QCR Holdings, Inc. Stock</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 19%; text-align: left">Common stock</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: center">&nbsp;</TD><TD STYLE="width: 3%; text-align: center">*</TD><TD STYLE="width: 1%; text-align: center">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 15%; text-align: right">12,841,124</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">American Funds Capital World Growth &amp; Income R6</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Mutual fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">*</TD><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,370,076</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">American Funds EuroPacific Growth R6</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Mutual fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">*</TD><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8,645,350</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">BNY Mellon Small/Mid Cap Growth</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Mutual fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">*</TD><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,378,822</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Goldman Sachs International Small Cap Insights Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Mutual fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">*</TD><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,229,260</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Invesco Developing Markets Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Mutual fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">*</TD><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,966,814</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Janus Henderson Small-Mid Cap Value</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Mutual fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">*</TD><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,491,780</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">PGIM Strategic Bond Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Mutual fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">*</TD><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,885,418</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">T. Rowe Price Spectrum Conservative Allocation Fund I</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Mutual fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">*</TD><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">147,694</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">T. Rowe Price Spectrum Moderate Allocation Fund I</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Mutual fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">*</TD><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">202,466</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">T. Rowe Price Spectrum Moderate Growth Allocation Fund I</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Mutual fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">*</TD><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">430,550</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">T. Rowe Price Blue Chip Growth</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Mutual fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">*</TD><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8,968,867</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Vanguard 500 Index ADM</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Mutual fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">*</TD><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">13,438,520</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Vanguard Intermediate Term Bond Index ADM</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Mutual fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">*</TD><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,239,192</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Vanguard Developed Markets Index ADM</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Mutual fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">*</TD><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">554,708</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Vanguard Emerging Markets Index ADM</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Mutual fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">*</TD><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">247,554</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Vanguard Mid Cap Index ADM</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Mutual fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">*</TD><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,292,845</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Vanguard Small Cap Index ADM</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Mutual fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">*</TD><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,604,211</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Vanguard Target Retirement 2020 Inv</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Mutual fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">*</TD><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,175,390</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Vanguard Target Retirement 2025 Inv</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Mutual fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">*</TD><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,815,183</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Vanguard Target Retirement 2030 Inv</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Mutual fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">*</TD><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,716,890</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Vanguard Target Retirement 2035 Inv</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Mutual fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">*</TD><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7,052,269</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Vanguard Target Retirement 2040 Inv</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Mutual fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">*</TD><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,481,770</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Vanguard Target Retirement 2045 Inv</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Mutual fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">*</TD><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,257,848</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Vanguard Target Retirement 2050 Inv</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Mutual fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">*</TD><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,438,188</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Vanguard Target Retirement 2055 Inv</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Mutual fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">*</TD><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,229,167</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Vanguard Target Retirement 2060 Inv</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Mutual fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">*</TD><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">980,995</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Vanguard Target Retirement 2065 Inv</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Mutual fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">*</TD><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">851,258</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Vanguard Target Retirement 2070 Inv</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Mutual fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">*</TD><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">120,629</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Vanguard Target Retirement Income Inv</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Mutual fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">*</TD><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">560,087</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Vanguard Total Stock Market Index ADM</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Mutual fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">*</TD><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,465,281</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Vanguard Windsor II Admiral</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Mutual fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">*</TD><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7,883,973</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Western Asset Core Plus Bond I</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Mutual fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">*</TD><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,136,354</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Morley Stable Value Fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Common collective trust fund</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">*</TD><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,990,084</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: right; padding-bottom: 1pt">Subtotal</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">124,090,617</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 21px">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;**&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: left; padding-bottom: 1pt">Participant notes receivable, bearing interest at rates of 4.25% to 9.50%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,354,384</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; padding-left: 21px">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; padding-left: 21px">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">Total</TD><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><B>125,445,001</B>&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: bold 13pt Humanst521 XBd BT; margin: 0 0 14pt; text-align: left"></P>

<P STYLE="font: 13pt Humanst521 XBd BT; margin: 0pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*
Cost information not required for participant-directed investments</FONT></P>

<P STYLE="font: 13pt Humanst521 XBd BT; margin: 0 0 14pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">** Party-in-interest, as defined by ERISA</FONT></P>

<P STYLE="font: 13pt Humanst521 XBd BT; margin: 0 0 14pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>




<P STYLE="text-align: center; font: 13pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Schedule
1</FONT></P>

<!-- Field: Page; Sequence: 13 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 13pt Calibri, Helvetica, Sans-Serif; margin: 0"><P STYLE="font: bold 20pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>QCR
Holdings, Inc. 401(k) Plan</B></FONT></P>

<P STYLE="font: bold 20pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B></B></FONT></P>

<!-- Field: Rule-Page --><DIV STYLE="margin: 3pt auto; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: bold 13pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><A NAME="scheduleoftransactions"></A>&nbsp;Schedule
of Nonexempt Transactions</FONT></P>

<P STYLE="font: bold 13pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Form
5500, Schedule G, Part III</FONT></P>

<P STYLE="font: bold 13pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">EIN
42-1397595, Plan Number 001</FONT></P>

<P STYLE="font: bold 13pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">December
31, 2023</FONT></P>

<P STYLE="font: bold 13pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="border-top: black 2.25pt solid; border-right: black 2.25pt solid; border-left: black 2.25pt solid; padding-right: 0.1in; padding-left: 0.1in"><P STYLE="border-bottom: Black 1pt solid; font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0.2in 0 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)
    Identity of party involved</FONT></P></TD>
    <TD COLSPAN="2" STYLE="border-top: black 2.25pt solid; border-right: black 2.25pt solid; padding-right: 0.1in; padding-left: 0.1in"><P STYLE="border-bottom: Black 1pt solid; font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0.2in 0 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)
    Relationship to plan, employer, or other party&#45;in&#45;interest</FONT></P></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="border-right: black 2.25pt solid; border-bottom: black 2.25pt solid; border-left: black 2.25pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 0.1in; padding-right: 0.1in; padding-left: 0.1in; text-indent: -0.1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9;QCR
    Holdings, Inc.</FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: black 2.25pt solid; border-bottom: black 2.25pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 0.1in; padding-right: 0.1in; padding-left: 0.1in; text-indent: -0.1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;Plan
    Sponsor</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="4" STYLE="border-right: black 2.25pt solid; border-left: black 2.25pt solid; padding-right: 0.1in; padding-left: 0.1in"><P STYLE="border-bottom: Black 1pt solid; font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0.2in 0 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)
    Description of transactions including maturity date, rate of interest, collateral, par or maturity value</FONT></P></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="4" STYLE="border-right: black 2.25pt solid; border-bottom: black 2.25pt solid; border-left: black 2.25pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 0.1in; padding-right: 0.1in; padding-left: 0.1in; text-indent: -0.1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9;Inadvertent
    loan to Plan Sponsor</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 29%; border-left: black 2.25pt solid; border-right: black 2.25pt solid; padding-right: 0.1in; padding-left: 0.1in"><P STYLE="border-bottom: Black 1pt solid; font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0.2in 0 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)
    Purchase price</FONT></P></TD>
    <TD STYLE="width: 27%; border-right: black 2.25pt solid; padding-right: 0.1in; padding-left: 0.1in"><P STYLE="border-bottom: Black 1pt solid; font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0.2in 0 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(e)
    Selling price</FONT></P></TD>
    <TD STYLE="width: 27%; border-right: black 2.25pt solid; padding-right: 0.1in; padding-left: 0.1in"><P STYLE="border-bottom: Black 1pt solid; font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0.2in 0 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(f)
    Lease rental/loan amount involved</FONT></P></TD>
    <TD STYLE="width: 17%; border-right: black 2.25pt solid; padding-right: 0.1in; padding-left: 0.1in"><P STYLE="border-bottom: Black 1pt solid; font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0.2in 0 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(g)
    Expenses incurred in connection with transaction</FONT></P></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: black 2.25pt solid; border-left: black 2.25pt solid; font: 8pt Arial, Helvetica, Sans-Serif; padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-right: black 2.25pt solid; font: 8pt Arial, Helvetica, Sans-Serif; padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-right: black 2.25pt solid; font: 8pt Arial, Helvetica, Sans-Serif; padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-right: black 2.25pt solid; font: 8pt Arial, Helvetica, Sans-Serif; padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: black 2.25pt solid; border-bottom: black 2.25pt solid; border-left: black 2.25pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 0.1in; padding-left: 0.1in; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$&#45;</FONT></TD>
    <TD STYLE="border-right: black 2.25pt solid; border-bottom: black 2.25pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 0.1in; padding-left: 0.1in; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$&#45;</FONT></TD>
    <TD STYLE="border-right: black 2.25pt solid; border-bottom: black 2.25pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 0.1in; padding-left: 0.1in; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$7,027</FONT></TD>
    <TD STYLE="border-right: black 2.25pt solid; border-bottom: black 2.25pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 0.1in; padding-left: 0.1in; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$&#45;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: black 2.25pt solid; border-left: black 2.25pt solid; padding-right: 0.1in; padding-left: 0.1in"><P STYLE="border-bottom: Black 1pt solid; font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0.2in 0 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(h)
    Cost of asset</FONT></P></TD>
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    Current value of asset</FONT></P></TD>
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    Net gain (loss) on each transaction</FONT></P></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: black 2.25pt solid; border-left: black 2.25pt solid; font: 8pt Arial, Helvetica, Sans-Serif; padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-right: black 2.25pt solid; font: 8pt Arial, Helvetica, Sans-Serif; padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
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    <TD STYLE="border-right: black 2.25pt solid; border-bottom: black 2.25pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 0.1in; padding-left: 0.1in; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$&#45;</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 0.1in; padding-left: 0.1in; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-right: black 2.25pt solid; border-bottom: black 2.25pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 0.1in; padding-left: 0.1in; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$&#45;</FONT></TD></TR>
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<P STYLE="font: bold 13pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: right">&nbsp;</P>

<P STYLE="font: bold 13pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: right">&nbsp;</P>

<P STYLE="font: bold 13pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: right">&nbsp;</P>

<P STYLE="font: bold 13pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: right">&nbsp;</P>

<P STYLE="font: 13pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Schedule
2</FONT></P>

<P STYLE="font: bold 13pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: right"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin: 3pt auto; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 4pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: bold 13pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
