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Note 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 6 Months Ended
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Jun. 30, 2025
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of presentation: The interim unaudited Consolidated Financial Statements contained herein should be read in conjunction with the audited Consolidated Financial Statements and accompanying notes to the consolidated financial statements for the fiscal year ended December 31, 2024, included in the Company's Annual Report on Form 10-K for the year ended December 31, 2024, as filed with the SEC on February 28, 2025. Accordingly, footnote disclosures, which would substantially duplicate the disclosures contained in the audited Consolidated Financial Statements, have been omitted. The financial information of the Company included herein has been prepared in accordance with GAAP for interim financial reporting and has been prepared pursuant to the rules and regulations for reporting on Form 10-Q and Rule 10-01 of Regulation S-X. Such information reflects all adjustments (consisting of normal recurring adjustments) that are, in the opinion of management, necessary for a fair presentation of the financial position and results of operations for the periods presented. Any differences appearing between the numbers presented in financial statements and management's discussion and analysis are due to rounding. The results of the interim period ended June 30, 2025 are not necessarily indicative of the results expected for the year ending December 31, 2025, or for any other period. The acronyms and abbreviations identified below are used throughout this Quarterly Report on Form 10-Q. It may be helpful to refer back to this page as you read this report.
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ACL: Allowance for credit losses | FTEs: Full-time equivalents
AFS: Available for sale | GAAP: Generally Accepted Accounting Principles
Allowance: Allowance for credit losses | GB: Guaranty Bank
AOCI: Accumulated other comprehensive income (loss) | GFED: Guaranty Federal Bancshares, Inc.
ASC: Accounting Standards Codification | HTM: Held to maturity
ASU: Accounting Standards Update | ICS: Insured Cash Sweep
BOLI: Bank-owned life insurance | LIHTC: Low-income housing tax credit
Caps: Interest rate cap derivatives | m2: m2 Equipment Finance, LLC
CDARS: Certificate of Deposit Account Registry Service | NIM: Net interest margin
CECL: Current Expected Credit Losses | NPA: Nonperforming asset
Community National: Community National Bancorporation | NPL: Nonperforming loan
Company: QCR Holdings, Inc. | OBS: Off-balance sheet
CRBT: Cedar Rapids Bank & Trust Company | OREO: Other real estate owned
CRE: Commercial real estate | PCAOB: Public Company Accounting Oversight Board
CSB: Community State Bank | Provision: Provision for credit losses
C&I: Commercial and industrial | QCBT: Quad City Bank & Trust Company
EBA: Excess balance account | ROAA: Return on average assets
EPS: Earnings per share | ROAE: Return on average equity
Exchange Act: Securities Exchange Act of 1934, as | SEC: Securities and Exchange Commission
amended | SOFR: Secured Overnight Financing Rate
FASB: Financial Accounting Standards Board | SPE: Special purpose entity
FDIC: Federal Deposit Insurance Corporation | Swaption: Swap option
Federal Reserve: Board of Governors of the Federal | TA: Tangible assets
Reserve System | TCE: Tangible common equity
FHLB: Federal Home Loan Bank | TEY: Tax equivalent yield
FRB: Federal Reserve Bank of Chicago | VIE: Variable interest entities
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​ The Consolidated Financial Statements include the accounts of the Company and its wholly owned subsidiaries which include the accounts of four commercial banks: QCBT, CRBT, CSB and GB. All four banks are state-chartered commercial banks and all are members of the Federal Reserve system. The Company also engages in direct financing lease contracts through m2, a wholly owned subsidiary of QCBT. Additionally, the Company also engages in wealth management services through its banking subsidiaries. All material intercompany transactions and balances have been eliminated in consolidation. Recent accounting developments: In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures.” Under the standard, the accounting guidance enhances the transparency and decision usefulness of income tax disclosures. Investors, lenders, creditors and other allocators of capital information will be able to use the expanded disclosures to better assess how an entity’s operations and related tax risks and tax planning and operation opportunities affect its tax rate and prospects for future cash flows. The ASU is effective for public business entities for annual periods beginning after December 15, 2024. The standard is not expected to have a significant impact on the Company’s financial statements. In March 2024, the FASB issued ASU 2024-01, “Compensation – Stock Compensation (Topic 718): Scope Application of Profits Interest and Similar Awards.” Under the standard, the accounting guidance improves GAAP by adding an illustrative example to demonstrate how an entity should apply the scope guidance of “Topic 718, Compensation - Stock Compensation” for profits interest and similar awards. The illustrative examples will benefit investors and other allocators of capital by providing them with more consistent information. The ASU is effective for public business entities for annual periods beginning after December 15, 2024, and interim periods within those annual periods. The standard was adopted on January 1, 2025 and did not have a significant impact on the Company’s financial statements. In November 2024, the FASB issued ASU 2024-03, “Disaggregation of Income Statement Expenses.” Under the standard, the accounting guidance improves disclosures about a public business entity’s expenses, and provides more detailed information about the types of expenses in commonly presented expense captions. The ASU is effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027. The standard is not expected to have a significant impact on the Company’s financial statements. ​

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