Earnings Call Summary | QCR Holdings(QCRH.US) Q1 2024 Earnings Conference
Earnings Call Summary | QCR Holdings(QCRH.US) Q1 2024 Earnings Conference
The following is a summary of the QCR Holdings, Inc. (QCRH) Q1 2024 Earnings Call Transcript:
以下是QCR Holdings, Inc.(QCRH)2024年第一季度财报电话会议记录摘要:
Financial Performance:
财务业绩:
QCR Holdings reported an adjusted net income of $26.9 million or $1.59 per diluted share for Q1 2024, with ROAA of 1.25% and an ROAE of 11.83%.
Loan growth of 6.4% was achieved annually, largely due to the low-income housing tax credit lending program.
There were increases in core deposits by $316 million or 20.3% annually, helping to improve the loans held for investment to deposit ratio to 93.6%.
Q1 net interest income totaled $54.7 million, decreasing by $1 million from Q4 2023, primarily due to non-client factors.
Non-interest income was down, at $26.9 million for Q1 from $47.7 million in Q4 2023, attributed to lost revenue from capital markets and wealth management.
There was a decrease in non-interest expenses for Q1, at $50.7 million compared to $60.9 million in Q4 2023, predominantly due to reduced variable employee compensation.
The company's tangible common equity to the tangible assets ratio increased by 19 basis points to 8.94%, up from 8.75% at the end of December.
QCR Holdings报告称,2024年第一季度调整后的净收益为2690万美元,摊薄每股收益为1.59美元,投资回报率为1.25%,投资回报率为11.83%。
每年实现6.4%的贷款增长,这主要是由于低收入住房税收抵免贷款计划。
核心存款每年增加3.16亿美元,增长20.3%,这有助于将持有的投资存款比率提高到93.6%。
第一季度净利息收入总额为5,470万美元,较2023年第四季度减少了100万美元,这主要是由于非客户因素。
由于资本市场和财富管理的收入损失,非利息收入从2023年第四季度的4,770万美元下降至第一季度的2690万美元。
与2023年第四季度的6,090万美元相比,第一季度的非利息支出减少了5,070万美元,这主要是由于可变员工薪酬的减少。
该公司的有形普通股与有形资产的比率从12月底的8.75%上升了19个基点,至8.94%。
Business Progress:
业务进展:
QCR Holdings showed an improvement in asset quality with the ratio of non-performing assets to total assets improving by four basis points during Q1.
The overall exposure to commercial office buildings was minimal and controlled, making up just 3% of total loans with an average loan size of $859,000.
QCR Holdings recently launched a wealth management business in Des Moines, Iowa, giving rise to expectations of further growth.
Vigilant credit administration and underwriting discipline along with efficient management of non-interest expenses continue to show progress.
Plans are in place for an LIHTC loan securitization in Q3 2024 as part of a long-term securitization strategy.
Operations in Cedar Rapids and Quad Cities demonstrate QCR's confidence in its operational infrastructure, client relationships, and growth strategies.
The company is planning to increase its Total Capital Equity (TCE) to the low nineties, potentially considering stock buybacks for the latter half of the year.
QCR Holdings显示资产质量有所改善,不良资产占总资产的比率在第一季度提高了四个基点。
商业办公楼的总体风险敞口微乎其微且受控,仅占贷款总额的3%,平均贷款额为859,000美元。
QCR Holdings最近在爱荷华州得梅因推出了财富管理业务,这激发了人们对进一步增长的预期。
警惕的信贷管理和承保纪律以及对非利息支出的有效管理继续取得进展。
作为长期证券化战略的一部分,已计划在2024年第三季度进行LIHTC贷款证券化。
锡达拉皮兹和四城市的业务表明了QCR对其运营基础设施、客户关系和增长战略的信心。
该公司计划将其总资本权益(TCE)提高至九十年代的低点,可能考虑在下半年进行股票回购。
More details: QCR Holdings IR
更多详情: QCR 控股投资者关系
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