Page 1

EX - 99.1 2 tm2130923d1_ex99-1.htm EXHIBIT 99.1 PRESS RELEASE OCR HOLDINGS , INC . a relationship driven organization " QCR Holdings , Inc. Announces Record Net Income of $ 31.6 Million for the Third Quarter of 2021 Exhibit 99.1 FOR IMMEDIATE RELEASE Third Quarter 2021 Highlights Record net income of $ 31.6 million , or $ 1.99 per diluted share Net Interest Margin ( “ NIM ” ) increased by 8 basis points and Adjusted NIM ( TEY ) ( non - GAAP ) increased by 9 bps to 3.36 % and 3.53 % , respectively Adjusted net interest income ( non - GAAP ) increased $ 2.8 million , or 6.2 % Annualized core loan and lease growth ( non - GAAP ) of 23 % for the quarter and 18 % YTD , excluding SBA Paycheck Protection Program ( “ PPP ” ) loans Annualized core deposit growth of 15.6 % for the quarter Nonperforming assets improved by 32 % for the quarter and now represent only 0.11 % of total assets Allowance for credit losses ( " ACL " ) to total loans / leases of 1.79 % , excluding PPP loans ( non - GAAP ) Moline , IL , October 27 , 2021 -- QCR Holdings , Inc. ( NASDAQ : QCRH ) ( the " Company " ) today announced record net income of $ 31.6 million and diluted earnings per share ( " EPS ” ) of $ 1.99 for the third quarter of 2021 , compared to net income of $ 22.3 million and diluted EPS of $ 1.39 for the second quarter of 2021 . Adjusted net income ( non - GAAP ) and adjusted diluted EPS ( non - GAAP ) for the third quarter of 2021 were the same as GAAP net income and diluted EPS , as there were no meaningful non - core adjustments during the quarter . For the second quarter of 2021 , adjusted net income ( non - GAAP ) was $ 22.5 million and adjusted diluted EPS ( non - GAAP ) was $ 1.40 . For the third quarter of 2020 , adjusted net income ( non - GAAP ) and adjusted diluted EPS ( non - GAAP ) were $ 17.7 million and $ 1.11 , respectively . $ in millions ( except per share data ) Net Income Diluted EPS Adjusted Net Income ( non - GAAP ) Adjusted Diluted EPS ( non - GAAP ) September 30 , 2021 For the Quarter Ended June 30 , 2021 September 30 , 2020 $ 31.6 $ 22.3 $ 17.3 $ 1.99 $ 1.39 $ 1.09 $ 31.6 $ 22.5 $ 17.7 $ 1.99 $ 1.40 $ 1.11 Adjusted non - GAAP measurements of financial performance exclude non - recurring income and expense items that management believes are not reflective of the anticipated future operation of the Company's business . The Company believes these measurements provide a better comparison for analysis and may provide a better indicator of future performance . See GAAP to non - GAAP reconciliations . " We are very pleased with our outstanding financial performance for the third quarter , " said Larry J. Helling , Chief Executive Officer . " We delivered another record quarter of net income , driven by exceptional loan growth , strong fee income , an expanded net interest margin and strong credit quality . We grew core loans 23 % on an annualized basis , largely funded with core deposit growth of 16 % . This exceptional performance is reflective of our core values , one of which is our relationship - based community banking model , emphasizing the importance of strong relationships with new and existing clients . "