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Note 20 - Parent Company Only Financial Statements

12 Months Ended

Dec. 31, 2024

Notes to Financial Statements

Parent Company Only Financial Statements

Note 20. Parent Company Only Financial Statements

The following is condensed financial information of QCR Holdings, Inc. (parent company only):

Condensed Balance Sheets
December 31, 2024 and 2023

​

​	​	​	​	​	​	​
​		2024			2023
​	​	(dollars in thousands)
Assets	​	​	​	​	​	​
Cash and due from banks	​	$	28,635	​	$	53,331
Investment in bank subsidiaries	​		1,259,571	​		1,122,803
Investment in nonbank subsidiaries	​		6,319	​		6,129
Premises and equipment, net	​		13,404	​		9,286
Other assets	​		16,370	​		14,512
Total assets	​	$	1,324,299	​	$	1,206,061
​	​			​
Liabilities and Stockholders' Equity	​			​
Liabilities:	​			​
Subordinated notes	​	$	233,489	​	$	233,064
Junior subordinated debentures	​		48,860	​		48,731
Other liabilities	​		44,563	​		37,670
Total liabilities	​		326,912	​		319,465
​	​			​
Stockholders' Equity:	​			​
Common stock	​		16,882	​		16,749
Additional paid-in capital	​		374,975	​		370,814
Retained earnings	​		665,171	​		554,992
Accumulated other comprehensive loss	​		(59,641)	​		(55,959)
Total stockholders' equity	​		997,387	​		886,596
Total liabilities and stockholders' equity	​	$	1,324,299	​	$	1,206,061
​	​	​	​	​	​	​

​

Note 20. Parent Company Only Financial Statements (continued)

Condensed Statements of Income
Years Ended December 31, 2024, 2023, and 2022

​

​	​	​	​	​	​	​	​	​	​
​		2024			2023			2022
​	​	(dollars in thousands)
​	​	​	​	​	​	​	​	​	​
Total interest income	​	$	13	​	$	—	​	$	26
Equity in net income of bank subsidiaries	​		140,197	​		137,451	​		128,941
Equity in net income of nonbank subsidiaries	​		2,221	​		2,220	​		1,294
Other	​		369	​		704	​		(53)
Total income	​		142,800	​		140,375	​		130,208
​	​			​			​
Interest expense	​		17,088	​		16,066	​		11,836
Salaries and employee benefits	​		11,558	​		9,940	​		15,551
Professional fees	​		539	​		12	​		1,789
Acquisition costs	​		—	​		—	​		3,715
Post-acquisition compensation, transition and integration costs	​		—	​		207	​		5,526
Other	​		4,083	​		3,744	​		3,331
Total expenses	​		33,268	​		29,969	​		41,748
​	​			​			​
Income before income tax benefit	​		109,532	​		110,406	​		88,460
​	​			​			​
Income tax benefit	​		4,318	​		3,152	​		10,606
Net income	​	$	113,850	​	$	113,558	​	$	99,066
​	​	​	​	​	​	​	​	​	​

​

​

Note 20. Parent Company Only Financial Statements (continued)

Condensed Statements of Cash Flows
Years Ended December 31, 2024, 2023, and 2022

​

​	​	​	​	​	​	​	​	​	​
​		2024			2023			2022
​	​	(dollars in thousands)
Cash Flows from Operating Activities:		​			​			​
Net income	​	$	113,850	​	$	113,558	​	$	99,066
Adjustments to reconcile net income to net cash provided by (used in) operating activities:	​			​			​
Earnings of bank subsidiaries	​	​	(140,197)	​		(137,451)	​		(128,941)
Earnings of nonbank subsidiaries	​		(2,221)	​		(2,220)	​		(1,294)
Distributions from bank subsidiaries	​		—	​		—	​		36,000
Distributions from nonbank subsidiaries	​		129	​		114	​		40
Deferred income taxes	​	​	1,410	​	​	(349)	​	​	(2,443)
Accretion of acquisition fair value adjustments	​		129	​		129	​		137
Depreciation	​		603	​		576	​		477
Deferred compensation expense accrued	​	​	5,793	​	​	4,063	​	​	4,062
Stock-based compensation expense	​		2,825	​		2,678	​		2,438
Gain on sale of fixed assets	​	​	54	​	​	—	​	​	—
Decrease (increase) in other assets	​		(794)	​		(2,649)	​		621
Increase in other liabilities	​		1,061	​		9,062	​		10,827
Net cash provided by (used in) operating activities	​		(17,358)	​		(12,489)	​		20,990
​	​			​			​
Cash Flows from Investing Activities:	​			​			​
Net decrease in interest-bearing deposits at financial institutions	​		—	​		—	​		5,950
Capital infusion, bank subsidiaries	​		—	​		(10,000)	​		—
Capital infusion, non-bank subsidiaries	​	​	—	​	​	—	​	​	(300)
Net cash received in dissolution of subsidiary	​	​	—	​	​	3,184	​	​	—
Net cash paid for acquisitions	​		—	​		—	​		(26,039)
Purchase of premises and equipment	​		(4,775)	​		(224)	​		(1,484)
Net cash used in investing activities	​		(4,775)	​		(7,040)	​		(21,873)
​	​			​			​
Cash Flows from Financing Activities:	​			​			​
Proceeds from subordinated notes	​	​	—	​	​	—	​	​	100,000
Payment of cash dividends	​		(4,032)	​		(4,029)	​		(3,944)
Proceeds from issuance of common stock, net	​		1,469	​		1,403	​		422
Repurchase and cancellation of shares	​		—	​		(8,686)	​		(52,954)
Net cash provided by (used in) financing activities	​		(2,563)	​		(11,312)	​		43,524
​	​			​			​
Net increase (decrease) in cash and due from banks	​		(24,696)	​		(30,841)	​		42,641
​	​			​			​
Cash and due from banks:	​			​			​
Beginning	​		53,331	​		84,172	​		41,531
Ending	​	$	28,635	​	$	53,331	​	$	84,172

​

X

- Definition

The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3

Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481231/810-10-45-11

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X

- References

No definition available.

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