QCR Holdings Inc 2024年度报告

FORM10-K ☒ANNUAL REPORT PURSUANT TO SECTION13 OR 15(d)OF THE SECURITIES EXCHANGE ACT OF 1934For the fiscalyear endedDecember31, 2024.☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF1934 Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule405 of the Securities Act.Yes[ X ]No[ ] Indicate by check mark if the registrant is not required to file reports pursuant to Section13 or Section15(d)of the Exchange Act.Yes[ ]No[ X ] Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d)of the SecuritiesExchange Act of 1934 during the preceding 12months (or for such shorter period that the registrant was required to file suchreports), and (2)has been subject to such filing requirements for past 90days.Yes[ X ]No[ ] Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule405 of Regulation S-T during the preceding 12months (or for such shorter period that the registrant was required tosubmit and post such files).Yes[ X ]No[ ] Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smallerreporting company,” and “emerging growth company” in Rule12b-2 of the Exchange Act. Large accelerated filer[X]Accelerated filer[ ]Non-accelerated filer[]Smallerreportingcompany[]Emerginggrowthcompany[] If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.[] Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of theeffectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) bythe registered public accounting firm that prepared or issued its audit report.[X] If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of theregistrant included in the filing reflect the correction of an error to previously issued financial statements.[] Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-basedcompensation received by any of the registrant's executive officers during the relevant recovery period pursuant to §240.10D-1(b).[] Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Act). Yes[]No[ X ] The aggregate market value of the voting and non-voting common equity held by non-affiliates of the registrant, based on the lastsales price quoted on The Nasdaq Global Market on June30, 2024, the last business day of the registrant’s most recently completedsecond fiscal quarter, was approximately $974,960,645. As of February12, 2025 the Registrant had outstanding16,901,169shares of common stock, $1.00 par value per share. Documents incorporated by reference:PartIII of Form10-K incorporates by reference portions of the proxy statement for annual meeting of stockholders to be held in May2025. QCR HOLDINGS,INC. AND SUBSIDIARIESINDEX Part IItem 1.BusinessItem1A.Risk FactorsItem1B.Unresolved Staff CommentsItem1C.CybersecurityItem 2.PropertiesItem 3.Legal ProceedingsItem 4.Mine Safety Disclosures Part II36Item 5.Market for Registrant’s Common Equity, Related Stockholder Matters andIssuer Purchases of Equity Securities36Item 6.[Reserved]38Item 7.Management’s Discussion and Analysis of Financial Condition and Results ofOperations39General39Critical Accounting Policies and Critical Accounting Estimates39Executive Overview41Strategic Financial Metrics42Strategic Developments43GAAP to Non-GAAP Reconciliations44Net Interest Income and Margin (Tax Equivalent Basis)(Non-GAAP)45Results of Operations48Interest Income48Interest Expense49Provision for Credit Losses49Noninterest Income50Noninterest Expenses52Income Tax Expense54Financial Condition54Overview54Investment Securities54Loans/Leases56Allowance for Credit Losses on Loans/Leasesand OBS Exposures57Nonperforming Assets60Deposits61Short-Term Borrowings62FHLB Advances and Other Borrowings62Subordinated Notes62Junior Subordinated Debentures63Stockholders’ Equity63Liquidity and Capital Resources64Commitments, Contingencies, Contractual Obligations, and Off-BalanceSheetArrangements65Impact of Inflation and Changing Prices67Forward-Looking Statements67Item7A.Quantitative and Qualitative Disclosures About Market Risk69Item 8.Financial Statements and Supplementary Data71Consolidated Balance Sheets as of December 31, 2024 and 202374Consolidated Statements of Income for the years ended December