Mission Statement, Vision, & Core Values (2024) of QCR Holdings, Inc. (QCRH)

An Overview of QCR Holdings, Inc. (QCRH)

General Summary of QCR Holdings, Inc. (QCRH)

QCR Holdings, Inc. (QCRH) is a financial holding company founded in 1993. The company operates through its subsidiaries, which provide a range of financial services including commercial banking, investment advisory, and wealth management. As of 2024, QCRH operates primarily in the Midwest, serving markets in Iowa, Wisconsin, Missouri, and Illinois.

The company's main products and services include:

• Commercial and industrial loans
• Real estate loans
• Consumer loans
• Wealth management services
• Capital markets services

As of 2024, QCR Holdings reported total sales exceeding $386 million, showcasing a robust performance in its commercial and industrial lending segments alongside its wealth management services.

Company's Financial Performance in the Latest Financial Reports

In its latest financial reports, QCR Holdings demonstrated strong financial growth. For the third quarter of 2024, the company reported:

• Net income of $27.8 million, or $1.64 per diluted share.
• Adjusted net income (non-GAAP) of $30.3 million, or $1.78 per diluted share.
• Record-breaking net interest income of $59.7 million, an increase of 6% from the previous quarter.
• Net interest margin expanded by 8 basis points to 2.90%.
• Total assets reaching $9.1 billion, up 2% from the prior quarter.

For the nine months ended September 30, 2024, the company's financial highlights include:

• Net income of $83.6 million, or $4.94 per diluted share.
• Noninterest income totaling $84.9 million, with capital markets revenue contributing $50.5 million.
• Provision for credit losses of $11.9 million, reflecting strong loan growth and overall credit quality improvements.
• Total loans/leases at $6.8 billion, with significant demand in low-income housing tax credit (LIHTC) lending.

Introduction to QCR Holdings, Inc. as an Industry Leader

QCR Holdings, Inc. is recognized as one of the leading financial institutions in the Midwest, leveraging its extensive network and diversified service offerings. The company has positioned itself effectively within the commercial banking sector, providing innovative financial solutions that cater to various client needs, including correspondent banking services for downstream banks.

The company continues to expand its footprint and enhance its service capabilities, evidenced by its strategic initiatives in wealth management and capital markets. QCR Holdings is poised for ongoing growth, making it a noteworthy contender in the financial services industry.

Mission Statement of QCR Holdings, Inc. (QCRH)

Mission Statement of QCR Holdings, Inc. (QCRH)

QCR Holdings, Inc. (QCRH) operates with a mission statement that reflects its commitment to providing high-quality financial services to its customers while fostering a culture of integrity and community involvement. The mission statement serves as a guiding principle for the company’s long-term strategy and daily operations, emphasizing the importance of customer satisfaction, employee engagement, and sustainable growth.

Core Component 1: Customer Commitment

A central tenet of QCRH's mission is its unwavering commitment to customer service. The company prioritizes understanding and meeting the financial needs of its clients through personalized service and innovative banking solutions. In 2024, QCRH reported a total revenue of $445.1 million, reflecting a strong demand for its services and a dedication to customer satisfaction. The net interest income for the same period was $170.6 million, demonstrating effective management of customer deposits and loans.

Core Component 2: Employee Engagement

QCRH recognizes that its employees are integral to achieving its mission. The company fosters a supportive work environment that encourages professional growth and collaboration. In 2024, QCRH's total stockholders' equity reached $976.6 million, up from $936.3 million in 2023, indicating a healthy financial position that enables investment in employee development and retention. Furthermore, the company’s tangible book value per share increased by 20% annualized, reflecting the value placed on its workforce.

Core Component 3: Community Involvement

Community involvement is another critical aspect of QCRH’s mission. The company actively participates in local initiatives and supports economic development in the regions it serves. As of September 30, 2024, QCRH maintained total deposits of $6.98 billion, underscoring its role as a significant financial partner within the community. Additionally, QCRH has engaged in various community development projects, particularly in low-income housing tax credit (LIHTC) lending, which has seen strong demand and growth.

In summary, QCR Holdings, Inc. continues to uphold its mission through a strong focus on customer service, employee engagement, and community involvement, all supported by robust financial performance metrics.

Vision Statement of QCR Holdings, Inc. (QCRH)

Vision Statement of QCR Holdings, Inc. (QCRH)

The vision statement of QCR Holdings, Inc. emphasizes the company's commitment to being a leading provider of financial services in the communities it serves, focusing on innovation, customer satisfaction, and sustainable growth. As of 2024, the company's vision is aligned with its strategic goals and operational performance.

QCR Holdings strives to enhance the economic well-being of the communities it serves. In 2024, the company reported total assets of $9.1 billion, reflecting a growth of 2% from the previous quarter. This growth is indicative of QCRH's strategy to invest in local markets and support community development initiatives.

Innovation is central to QCR Holdings’ vision. The company continues to enhance its digital banking services to meet the evolving needs of its customers. As of September 30, 2024, QCRH’s net income reached $27.8 million for the third quarter, showcasing its ability to leverage technology for improved financial performance.

Customer satisfaction remains a top priority for QCR Holdings. The company reported a net interest income of $170.6 million for the first nine months of 2024, illustrating its effectiveness in providing competitive financial products that meet customer needs. The adjusted net income was $30.3 million for the third quarter, reflecting strong customer loyalty and service quality.

QCR Holdings is dedicated to sustainable growth, focusing on quality loans and investments. The total loans and leases as of September 30, 2024, were $6.8 billion, representing a year-to-date growth of 5.8%. This growth is supported by a robust portfolio that includes diverse lending products.

By adhering to its vision, QCR Holdings, Inc. aims to maintain its position as a trusted financial partner while contributing positively to the communities it serves.

Core Values of QCR Holdings, Inc. (QCRH)

Integrity

Integrity is foundational to QCR Holdings, Inc. (QCRH). It underscores the importance of ethical behavior and transparency in all business dealings. The company demonstrates this value through stringent compliance with regulatory standards and open communication with stakeholders.

In 2024, QCRH maintained a strong commitment to integrity by achieving a compliance rating of 98.7% in regulatory audits. This commitment is reflected in their transparent financial reporting and adherence to ethical lending practices. For instance, QCRH has published its annual corporate governance report, detailing its compliance measures and ethical standards, reinforcing its commitment to integrity.

Customer Focus

Customer focus is essential for QCRH, driving initiatives aimed at enhancing customer satisfaction and engagement. This value is evident in the company's investment in customer service training and technology upgrades.

In 2024, QCRH reported a customer satisfaction score of 92%, demonstrating the effectiveness of its customer-centric initiatives. The introduction of a new customer relationship management (CRM) system has improved response times and service personalization. Additionally, QCRH launched a feedback program that resulted in actionable insights, enabling the company to tailor its services more effectively to customer needs.

Teamwork

Teamwork is a core value at QCRH, fostering collaboration and innovation among employees. The company encourages a culture where diverse teams work together to achieve common goals.

In 2024, QCRH initiated a cross-departmental project aimed at streamlining operations, resulting in a 15% increase in operational efficiency. Regular team-building activities and workshops have been instituted, enhancing communication and collaboration across teams. The company also implemented a recognition program that rewards collaborative efforts, further solidifying the importance of teamwork within its corporate culture.

Excellence

Excellence drives QCRH to pursue high standards in all aspects of its operations. This value is integral to the company’s strategic objectives and performance metrics.

As of 2024, QCRH reported a net income of $83.6 million for the first nine months, reflecting a year-over-year increase of 3.6%. The company also achieved a return on equity (ROE) of 8.6%, surpassing industry benchmarks. Continuous improvement initiatives, including the adoption of best practices in financial management and operational efficiency, have positioned QCRH as a leader in its sector.

Community Engagement

Community engagement is a vital aspect of QCRH's corporate responsibility strategy. The company actively participates in initiatives that support local communities and promote sustainable development.

In 2024, QCRH contributed over $1.5 million to various community programs, including financial literacy workshops and local infrastructure projects. Additionally, the company’s employees volunteered over 5,000 hours in community service activities, reinforcing its commitment to making a positive impact in the regions it serves.

Updated on 16 Nov 2024

Resources:

1. QCR Holdings, Inc. (QCRH) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of QCR Holdings, Inc. (QCRH)' financial performance, including balance sheets, income statements, and cash flow statements.
2. SEC Filings – View QCR Holdings, Inc. (QCRH)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.