QCR Holdings, Inc. Named a Top 50 Large Community Bank by S&P Global Market Intelligence
MOLINE, Ill., March 24, 2022 (GLOBE NEWSWIRE) -- QCR Holdings, Inc. (NASDAQ: QCRH) (“QCR Holdings”) today announced that it has been ranked as one of the 50 top-performing large community banks ($3B-$10B) in the United States by S&P Global Market Intelligence for the second consecutive year.
“We’re proud to earn this recognition and an improved position on the list. This ranking reflects our commitment to our strong credit culture, careful expense management and disciplined growth,” said Larry Helling, QCR Holdings Chief Executive Officer. “Our financial performance in 2021 showcased our ability to deliver for our shareholders. With our relationship-based community banking model, which emphasizes exceptional client service and local market expertise, we generated record net income and earnings per share in 2021, driven by 17% loan growth and excellent credit quality.”
S&P Global Market Intelligence’s ranking is based on measurements of financial and operating strength for community banks with assets between $3 billion and $10 billion. To compile this ranking, S&P Global Market Intelligence calculated scores for each company based on six metrics: pretax return on tangible common equity; efficiency ratio; operating revenue growth; net charge-offs to average loans and leases net of Paycheck Protection Program loans ratio; nonperforming assets and loans 90 days or more past due as a percentage of total assets, net of PPP loans; and leverage ratio. Each company's standard deviation from the industry mean was calculated for every ranking metric, weighted, then combined to derive a performance score. To help normalize the data and mitigate the impact of outliers, caps and floors were applied for each metric.
About QCR Holdings, Inc.
QCR Holdings, Inc., headquartered in Moline, Illinois, is a relationship-driven, multi-bank holding company serving the Quad Cities, Cedar Rapids, Cedar Valley, Des Moines/Ankeny and Springfield communities through its wholly-owned subsidiary banks. The banks provide full-service commercial and consumer banking and trust and wealth management services. Quad City Bank & Trust Company, based in Bettendorf, Iowa, commenced operations in 1994, Cedar Rapids Bank & Trust Company, based in Cedar Rapids, Iowa, commenced operations in 2001, Community State Bank, based in Ankeny, Iowa, was acquired by the Company in 2016, and Springfield First Community Bank, based in Springfield, Missouri, was acquired by the Company in 2018. Additionally, the Company serves the Waterloo/Cedar Falls, Iowa community through Community Bank & Trust, a division of Cedar Rapids Bank & Trust Company. Quad City Bank & Trust Company offers equipment loans and leases to businesses through its wholly-owned subsidiary, m2 Equipment Finance, LLC, based in Milwaukee, Wisconsin, and also provides correspondent banking services. The Company has 24 locations in Iowa, Missouri, Wisconsin and Illinois. As of December 31, 2021, the Company had approximately $6.1 billion in assets, $4.7 billion in loans and $4.9 billion in deposits. For additional information, please visit the Company’s website at www.qcrh.com.
Contacts:
Todd Gipple | Kim Garrett |
