QCR Holdings, Inc. (NASDAQ:QCRH) reported first quarter earnings before the bell today, that beat street view.
On a GAAP basis, QCRH reported net income of $ 10.55 million or 74 cents per share, compared with income of $ 9.19 million or 68 cents per share, a year ago period.
Headquartered in , QCRH recorded net interest income that rose 17% to $ 32.40 million from $ 27.67 million in the same quarter last year.
Analysts polled by Thomson Reuters expected Qcr Holdings Inc to reveal income of $ 0.72 per share on revenue of $ 35.99 million for the first quarter.
Douglas M. Hultquist, President and CEO, commented, We delivered solid organic loan growth, meaningful fee income, excellent credit quality and improved profitability through the execution of our ongoing key initiatives. We are also pleased to announce that we have reached a definitive agreement to enter the Springfield, Missouri market by merging with Springfield Bancshares, Inc., the holding company of Springfield First Community Bank, based in Springfield, Missouri.
QCR Holdings headquartered in Moline, Illinois, is a relationship-driven, multi-bank holding company, which serves the Quad City, Cedar Rapids, Cedar Valley, Des Moines/Ankeny, and Rockford communities through its wholly owned subsidiary banks.