QCR Holdings, Inc. reported a net income of $25.8 million for the first quarter of 2025, translating to diluted earnings per share of $1.52. This represents a decrease from the $30.2 million net income and $1.77 per share reported in the previous quarter, and a slight decline from $26.7 million and $1.58 per share in the same quarter of the previous year. The company's total assets increased to $9.15 billion, up from $9.03 billion at the end of 2024, driven by a $276.2 million increase in deposits, which now total $7.34 billion.
In terms of financial performance, QCR Holdings experienced a 10% year-over-year increase in net interest income, reaching $59.99 million, although this was a 2% decline from the previous quarter. The provision for credit losses rose to $4.23 million, up from $2.97 million a year earlier, reflecting increased loan growth and net charge-offs. Noninterest income saw a significant decline of 37% compared to the previous year, totaling $16.89 million, primarily due to a drop in capital markets revenue, which fell to $6.52 million from $16.46 million in the same quarter of 2024.
Operationally, the company reported a 2.3% annualized growth in loans and leases, totaling $6.82 billion as of March 31, 2025. The loan portfolio is diversified, with significant contributions from commercial and industrial loans, construction and land development, and multi-family real estate. The allowance for credit losses on loans and leases stood at 1.32% of total loans, consistent with the previous quarter. The company also noted an increase in nonperforming assets, which rose to $48.1 million, reflecting challenges in certain client relationships.
Strategically, QCR Holdings has focused on expanding its wealth management services, which saw a 14% annualized revenue growth. The company continues to enhance its correspondent banking services, now serving 189 banks, and has plans to further develop its interest rate swap offerings to manage interest rate risk effectively. Looking ahead, the company anticipates a normalization of capital markets activity and remains committed to maintaining strong asset quality while pursuing growth in its core deposit base.
About QCR HOLDINGS INC
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