QCR Holdings, Inc. Announces Record Quarterly Net Income of $36.7 Million for the Third Quarter of 2025

QCR Holdings, Inc. Announces Record Quarterly Net Income of $36.7 Million for the Third Quarter of 2025 Board Approves New Share Repurchase Program Authorization for Up to 1.7 Million Shares Third Quarter 2025 Highlights Record third quarter net income of $36.7 million, or $2.16 per diluted shareRecord adjusted net income1 of $36.9 million, or $2.17 per diluted shareNet interest income growth of 18% annualized and NIM TEY1 expansion of five basis points to 3.51%ROAA of 1.57% annualizedCapital markets revenue of $23.8 million, up 141% on a linked-quarter basisLoan growth of 15% annualizedTangible book value per share1 growth of $2.50, or 19% annualizedRepurchased 115,735 shares, a total of 129,056 through October 20th, 2025 MOLINE, Ill., Oct. 22, 2025 (GLOBE NEWSWIRE) -- QCR Holdings, Inc. (NASDAQ: QCRH) (the “Company”) today announced record quarterly net income of $36.7 million and diluted earnings per share (“EPS”) of $2.16 for the third quarter of 2025, compared to net income of $29.0 million and diluted EPS of $1.71 for the second quarter of 2025. Adjusted net income1 and adjusted diluted EPS1 for the third quarter of 2025 were $36.9 million and $2.17, respectively, compared to $29.4 million and $1.73, respectively, for the second quarter of 2025 and $30.3 million, and $1.78 respectively for the third quarter of 2024. For the Quarter Ended September 30, June 30, September 30,$in millions (except per share data) 2025 2025 2024Net Income $36.7 $29.0 $27.8Diluted EPS $2.16 $1.71 $1.64Adjusted Net Income1 $36.9 $29.4 $30.3Adjusted Diluted EPS1 $2.17 $1.73 $1.78  “We delivered outstanding third quarter results, achieving record net income and strong EPS growth of 26% compared to the second quarter,” said Todd Gipple, President and Chief Executive Officer. “Our exceptional performance was driven by a strong rebound in capital markets revenue, as well as robust loan growth and continued net interest margin expansion that led to a significant increase in net interest income.” Strong Margin Expansion Fuels Significant Net Interest Income Growth Net interest income for the third quarter of 2025 totaled $64.8 million, an increase of $2.7 million, or 18% annualized, from the second quarter of 2025, driven by strong earning asset growth, expanded loan and investment yields, and a stable cost of funds. Net interest margin (“NIM”) was 3.00% and NIM on a tax-equivalent yield (“TEY”) basis1 was 3.51% for the third quarter, as compared to 2.97% and 3.46% for the prior quarter, respectively. “Our NIM TEY1 increased five basis points from the second quarter of 2025, exceeding the high end of our guidance range,” said Nick Anderson, Chief Financial Officer. “Looking ahead, we anticipate continued margin expansion and are guiding to an increase in fourth quarter NIM TEY1 ranging from 3 to 7 basis points, assuming no further Federal Reserve rate cuts,” added Mr. Anderson. Robust Noninterest Income from Capital Markets and Wealth Management Revenue Noninterest income for the third quarter of 2025 was $36.7 million, up 66% from $22.1 million in the second quarter of 2025. The Company generated $23.8 million of capital markets revenue in the third quarter of 2025 compared to $9.9 million in the prior quarter. Wealth Management revenue totaled $5.0 million for the quarter, representing an 8% increase from the second quarter of 2025 and a 15% annualized increase year-over-year. “During the third quarter of 2025, activity rebounded sharply in our low-income housing tax credit (“LIHTC”) lending business, underscoring the continued demand for affordable housing and the strength of our seasoned team. Developers are actively navigating the broader macroeconomic challenges from earlier in the year, demonstrating resilience and a commitment to advancing their projects. We continue to view LIHTC lending as a highly durable, highly profitable, and differentiated line of business for QCRH, anchored by our deep network of developer relationships and the historically high-quality assets that our platform consistently delivers,” said Mr. Gipple. “Our LIHTC lending team has worked incredibly hard to extend our market position the past three quarters, gaining additional projects from our long-term developer relationships and creating new relationships with 10 experienced LIHTC developer clients. These new clients are some of the best LIHTC developers in the country and this success will further extend our LIHTC lending platform. Given the strength of our pipeline, we are increasing our capital markets revenue guidance to be in a range of between $55 and $65 million over the next four quarters,” added Mr. Gipple. Noninterest Expense Discipline Helps Drive Operating Leverage Noninterest expense for the third quarter of 2025 totaled $56.6 million compared to $49.6 million for the second quarter of 2025 and $53.6 million for the third quarter of 2024. The $7.0 million linked-quarter increase was primarily due to robust capital markets revenue and loan growth in the quarter, which drove variable compensation higher. Professional and data processing expenses and occupancy and equipment expenses related to the Company’s digital transformation also contributed to the increase in noninterest expense. The Company’s highly incentivized variable compensation structure is designed to enhance operating leverage and provide expense flexibility across changing revenue cycles. “For the third quarter, the Company’s efficiency ratio1 of 55.78% was our lowest in four years. Compared to the first nine months of 2024, adjusted noninterest expenses1 remain well controlled, up less than 1% on an annualized basis, while adjusted net income1 has grown by 9% annualized,” said Mr. Anderson. For the fourth quarter of 2025, the Company expects noninterest expense to be in the range of $52 to $55 million, which assumes capital markets revenue and loan growth are within their guidance ranges and includes costs for the digital transformation, including the successful completion of the first core operating system conversion in early October. Loan Growth Accelerates in both LIHTC and Traditional Bank Lending In the third quarter of 2025, the Company’s total loans and leases held for investment grew by $253.7 million, to $7.2 billion. “Loan growth was 17% annualized when adding back the impact from the planned runoff of m2 Equipment Finance (“m2”) loans and leases. Third quarter loan growth was driven by acceleration in both our LIHTC lending and traditional lending businesses. With a strong pipeline in place, we anticipate solid loan growth through year-end and are guiding to gross loan growth in a range of 10% to 15% in the final quarter of the year,” said Mr. Gipple. Core Deposit Strength Continues Total core deposits increased by $99.0 million, or 6% annualized from the second quarter, while average deposit balances increased $164.8 million. Year-to-date, core deposits have increased by $410.2 million, or 8% annualized. The deposit mix remained stable while total brokered deposits declined by $37.2 million. The Company’s total deposits have averaged $7.3 billion year-to-date, an increase of $536.0 million, or 8%. “We continue to generate strong deposit growth across our markets. These results reflect the success of our relationship-driven strategy of growing core deposits, providing a solid funding base that supports future growth,” added Mr. Gipple. Asset Quality Further Strengthens and Remains Excellent The nonperforming assets (“NPAs”) to total assets ratio was 0.45% as of September 30, 2025, down one basis point from the prior quarter. NPAs totaled $42.7 million at the end of the third quarter of 2025, consistent with the prior quarter. Total criticized loans decreased by $5.6 million on a linked-quarter basis. The ratio of criticized loans to total loans and leases as of September 30, 2025 decreased to 2.01% as compared to 2.16% as of June 30, 2025, and remains well below the Company’s long-term historical average. The Company recorded a total provision for credit losses of $4.3 million during the quarter, which was up slightly from $4.0 million in the prior quarter. Net charge-offs were $4.2 million during the third quarter of 2025, a decrease of $2.1 million from the prior quarter driven by significantly lower m2 portfolio charge-offs. Credit loss expenses for the m2 portfolio are down 45%, or $4 million, and nonperforming assets are down 29% year-over-year, reflecting both the runoff of the higher-risk assets and the improved seasoning of the remaining portfolio. The allowance for credit losses to total loans held for investment was 1.24% as of September 30, 2025. Continued Strong Tangible Book Value and Regulatory Capital The Company’s tangible book value per share1 (“TBV”) increased by $2.50, or 19% annualized, during the third quarter of 2025 due to the combination of strong earnings and improved accumulated other comprehensive losses partially offset by share repurchases. As of September 30, 2025, the Company’s tangible common equity to tangible assets ratio (“TCE”)1 increased five basis points to 9.97%. The improvement in TCE1 was driven by strong earnings during the quarter. The total risk-based capital ratio decreased to 14.03% and the common equity tier 1 ratio decreased to 10.34% due to solid earnings growth during the quarter, offset by strong loan growth and share repurchases. By comparison, these ratios were 9.92%, 14.26%, and 10.43%, respectively, as of June 30, 2025. The Company remains committed to maintaining strong regulatory capital. Opportunistic Share Repurchases and New Share Repurchase Plan Authorization From the beginning of the third quarter through October 20th, the Company returned $10.0 million of capital to shareholders with 129,056 shares repurchased at an average price of $77.49 per share. Additionally, the Company’s Board of Directors authorized a new share repurchase program on October 20, 2025, permitting the repurchase of up to 1,700,000 shares of its outstanding common stock, or approximately 10% of the outstanding shares as of September 30, 2025. This program replaces the Company’s prior repurchase program announced on May 19, 2022, which has been terminated. “The opportunistic repurchases were completed at attractive valuation levels of TBV1. The new share repurchase program authorization equips us with a flexible capital allocation tool, enabling us to continue repurchasing shares when it aligns with our strategic and financial objectives, underscoring our confidence in the long-term earnings power of the Company and our commitment to enhancing shareholder value,” said Mr. Gipple. Conference Call Details The Company will host an earnings call/webcast tomorrow, October 23, 2025, at 10:00 a.m. Central Time. Dial-in information for the call is toll-free: 888-346-9286 (international 412-317-5253). Participants should request to join the QCR Holdings, Inc. call. The event will be available for replay through October 30, 2025. The replay access information is 877-344-7529 (international 412-317-0088); access code 5245751. A webcast of the teleconference can be accessed on the Company’s News and Events page at www.qcrh.com. An archived version of the webcast will be available at the same location shortly after the live event has ended. About Us QCR Holdings, Inc., headquartered in Moline, Illinois, is a relationship-driven, multi-bank holding company serving the Quad Cities, Cedar Rapids, Cedar Valley, Des Moines/Ankeny and Springfield communities through its wholly owned subsidiary banks. The banks provide full-service commercial and consumer banking and trust and wealth management services. Quad City Bank & Trust Company, based in Bettendorf, Iowa, commenced operations in 1994, Cedar Rapids Bank & Trust Company, based in Cedar Rapids, Iowa, commenced operations in 2001, Community State Bank, based in Ankeny, Iowa, was acquired by the Company in 2016, and Guaranty Bank, based in Springfield, Missouri, was acquired by the Company in 2018. Additionally, the Company serves the Waterloo/Cedar Falls, Iowa community through Community Bank & Trust, a division of Cedar Rapids Bank & Trust Company. The Company has 36 locations in Iowa, Missouri, and Illinois. As of September 30, 2025, the Company had $9.6 billion in assets, $7.2 billion in loans and $7.4 billion in deposits. For additional information, please visit the Company’s website at www.qcrh.com. Endnotes 1Adjusted non-GAAP measurements of financial performance exclude non-core and/or nonrecurring income and expense items that management believes are not reflective of the anticipated future operation of the Company’s business. The Company believes these adjusted measurements provide a better comparison for analysis and may provide a better indicator of future performance. See GAAP to non-GAAP reconciliations. Special Note Concerning Forward-Looking Statements. This document contains, and future oral and written statements of the Company and its management may contain, forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 with respect to the financial condition, results of operations, plans, objectives, future performance and business of the Company. Forward-looking statements, which may be based upon beliefs, expectations and assumptions of the Company’s management and on information currently available to management, are generally identifiable by the use of words such as “believe,” “expect,” “anticipate,” “bode”, “predict,” “suggest,” “project”, “appear,” “plan,” “intend,” “estimate,” ”annualize,” “may,” “will,” “would,” “could,” “should,” “likely,” “might,” “potential,” “continue,” “annualized,” “target,” “outlook,” as well as the negative forms of those words, or other similar expressions. Additionally, all statements in this document, including forward-looking statements, speak only as of the date they are made, and the Company undertakes no obligation to update any statement in light of new information or future events. A number of factors, many of which are beyond the ability of the Company to control or predict, could cause actual results to differ materially from those in its forward-looking statements. These factors include, but are not limited to: (i) the strength of the local, state, national and international economies and financial markets, including effects of inflationary pressures, the threat or implementation of tariffs, trade wars and changes to immigration policy; (ii) changes in, and the interpretation and prioritization of, local, state and federal laws, regulations and governmental policies (including those concerning the Company’s general business); (iii) the economic impact of any future terrorist threats and attacks, widespread disease or pandemics, acts of war or threats thereof (including the Russian invasion of Ukraine and ongoing conflicts in the Middle East), or other adverse events that could cause economic deterioration or instability in credit markets, and the response of the local, state and national governments to any such adverse external events; (iv) new or revised accounting policies and practices, as may be adopted by state and federal regulatory agencies, the FASB, the Securities and Exchange Commission (the “SEC”) or the PCAOB; (v) the imposition of tariffs or other governmental policies impacting the value of products produced by the Company’s commercial borrowers; (vi) increased competition in the financial services sector, including from non-bank competitors such as credit unions, fintech companies, and digital asset service providers and the inability to attract new customers; (vii) rapid technological changes implemented by us and our third-party vendors, including the development and implementation of tools incorporating artificial intelligence; (viii) unexpected results of acquisitions, including failure to realize the anticipated benefits of the acquisitions and the possibility that transaction and integration costs may be greater than anticipated; (ix) the loss of key executives and employees, talent shortages and employee turnover; (x) changes in consumer spending; (xi) unexpected outcomes and costs of existing or new litigation or other legal proceedings and regulatory actions involving the Company; (xii) the economic impact on the Company and its customers of climate change, natural disasters and exceptional weather occurrences such as tornadoes, floods and blizzards; (xiii) fluctuations in the value of securities held in our securities portfolio, including as a result of changes in interest rates; (xiv) credit risk and risks from concentrations (by type of borrower, geographic area, collateral and industry) within our loan portfolio and large loans to certain borrowers (including CRE loans); (xv) the overall health of the local and national real estate market; (xvi) the ability to maintain an adequate level of allowance for credit losses on loans; (xvii) the concentration of large deposits from certain clients who have balances above current FDIC insurance limits and who may withdraw deposits to diversify their exposure; (xviii) the ability to successfully manage liquidity risk, which may increase dependence on non-core funding sources such as brokered deposits, and may negatively impact the Company’s cost of funds; (xix) the level of non-performing assets on our balance sheet; (xx) interruptions involving our information technology and communications systems or third-party servicers; (xxi) the occurrence of fraudulent activity, breaches or failures of our third-party vendors’ information security controls or cybersecurity-related incidents, including as a result of sophisticated attacks using artificial intelligence and similar tools or as a result of insider fraud; (xxii) changes in the interest rates and repayment rates of the Company’s assets; (xxiii) the effectiveness of the Company’s risk management framework, (xxiv) the effects of the current U.S. government shutdown, including the impact of prolonged closures or staffing reductions at government agencies effecting our business (for instance, the U.S. Department of Housing and Urban Development involvement with our LIHTC lending business), and (xxv) the ability of the Company to manage the risks associated with the foregoing. These risks and uncertainties should be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements. Additional information concerning the Company and its business, including additional factors that could materially affect the Company’s financial results, is included in the Company’s filings with the SEC. Contact: Nick W. Anderson Chief Financial Officer (309) 743-7707 [email protected] QCR Holdings, Inc. Consolidated Financial Highlights (Unaudited) As of September 30, June 30, March 31, December 31, September 30, 2025 2025 2025 2024 2024 (dollars in thousands)CONDENSED BALANCE SHEET Cash and due from banks $77,581 $104,769 $98,994 $91,732 $103,840 Federal funds sold and interest-bearing deposits 160,033 145,704 225,716 170,592 159,159 Securities, net of allowance for credit losses 1,308,689 1,263,452 1,220,717 1,200,435 1,146,046 Loans receivable held for sale (1) 1,457 1,162 2,025 2,143 167,047 Loans/leases receivable held for investment 7,177,464 6,923,762 6,821,142 6,782,261 6,661,755 Allowance for credit losses (88,770) (88,732) (90,354) (89,841) (86,321)Intangibles 9,077 9,738 10,400 11,061 11,751 Goodwill 138,595 138,595 138,595 138,595 138,596 Derivatives 207,775 184,982 180,997 186,781 261,913 Other assets 576,401 558,899 544,547 532,271 524,779 Total assets $9,568,302 $9,242,331 $9,152,779 $9,026,030 $9,088,565 Total deposits $7,380,068 $7,318,353 $7,337,390 $7,061,187 $6,984,633 Total borrowings 706,827 509,359 429,921 569,532 660,344 Derivatives 230,742 209,505 206,925 214,823 285,769 Other liabilities 163,750 154,560 155,796 183,101 181,199 Total stockholders’ equity 1,086,915 1,050,554 1,022,747 997,387 976,620 Total liabilities and stockholders’ equity $9,568,302 $9,242,331 $9,152,779 $9,026,030 $9,088,565 ANALYSIS OF LOAN PORTFOLIO Loan/lease mix: (2) Commercial and industrial - revolving $386,674 $380,029 $388,479 $387,991 $387,409 Commercial and industrial - other 1,107,896 1,180,859 1,231,198 1,295,961 1,321,053 Commercial and industrial - other - LIHTC 222,772 194,830 212,921 218,971 89,028 Total commercial and industrial 1,717,342 1,755,718 1,832,598 1,902,923 1,797,490 Commercial real estate, owner occupied 586,578 593,675 599,488 605,993 622,072 Commercial real estate, non-owner occupied 1,053,732 1,036,049 1,040,281 1,077,852 1,103,694 Construction and land development 515,787 454,022 403,001 395,557 342,335 Construction and land development - LIHTC 1,028,978 1,075,000 1,016,207 917,986 913,841 Multi-family 316,353 301,432 289,782 303,662 324,090 Multi-family - LIHTC 1,187,243 950,331 888,517 828,448 973,682 Direct financing leases 11,090 12,880 14,773 17,076 19,241 1-4 family real estate 599,838 592,253 592,127 588,179 587,512 Consumer 161,980 153,564 146,393 146,728 144,845 Total loans/leases $7,178,921 $6,924,924 $6,823,167 $6,784,404 $6,828,802 Less allowance for credit losses 88,770 88,732 90,354 89,841 86,321 Net loans/leases $7,090,151 $6,836,192 $6,732,813 $6,694,563 $6,742,481 ANALYSIS OF SECURITIES PORTFOLIO Securities mix: U.S. government sponsored agency securities $14,208 $14,267 $17,487 $20,591 $18,621 Municipal securities 1,085,669 1,033,642 1,003,985 971,567 965,810 Residential mortgage-backed and related securities 57,108 58,864 43,194 50,042 53,488 Asset backed securities 4,918 6,684 7,764 9,224 10,455 Other securities 63,824 67,358 66,105 65,745 39,190 Trading securities (3) 83,225 82,900 82,445 83,529 58,685 Total securities $1,308,952 $1,263,715 $1,220,980 $1,200,698 $1,146,249 Less allowance for credit losses 263 263 263 263 203 Net securities $1,308,689 $1,263,452 $1,220,717 $1,200,435 $1,146,046 ANALYSIS OF DEPOSITS Deposit mix: Noninterest-bearing demand deposits $931,774 $952,032 $963,851 $921,160 $969,348 Interest-bearing demand deposits 5,176,364 5,087,783 5,119,601 4,828,216 4,715,087 Time deposits 1,004,980 974,341 951,606 953,496 942,847 Brokered deposits 266,950 304,197 302,332 358,315 357,351 Total deposits $7,380,068 $7,318,353 $7,337,390 $7,061,187 $6,984,633 ANALYSIS OF BORROWINGS Borrowings mix: Term FHLB advances $145,383 $145,383 $145,383 $145,383 $145,383 Overnight FHLB advances 145,000 80,000 — 140,000 230,000 Other borrowings (4) 130,609 — — — — Other short-term borrowings 2,850 1,350 2,050 1,800 2,750 Subordinated notes 234,027 233,701 233,595 233,489 233,383 Junior subordinated debentures 48,958 48,925 48,893 48,860 48,828 Total borrowings $706,827 $509,359 $429,921 $569,532 $660,344 ______________________________ (1) Loans with a fair value of $0 million, $0 million, $0 million, $0 million and $165.9 million have been identified for securitization and are included in LHFS at September 30, 2025, June 30, 2025, March 31, 2025, December 31, 2024 and September 30, 2024, respectively.(2) Loan categories with significant LIHTC loan balances have been broken out separately. Total LIHTC balances within the loan/lease portfolio were $2.5 billion at September 30, 2025.(3) Trading securities consisted of retained beneficial interests acquired in conjunction with Freddie Mac securitizations completed by the Company.(4) During the third quarter of 2025, the Company entered into a secured borrowing transaction where $200.3 million of HTM Municipal securities were pledged in exchange for $134.2 million of borrowings, net of issuance costs of $3.6 million. QCR Holdings, Inc. Consolidated Financial Highlights (Unaudited) For the Quarter Ended September 30, June 30, March 31, December 31, September 30, 2025 2025 2025 2024 2024 (dollars in thousands, except per share data)INCOME STATEMENT Interest income $125,015 $120,247 $116,673 $121,642 $125,420 Interest expense 60,216 58,165 56,687 60,438 65,698 Net interest income 64,799 62,082 59,986 61,204 59,722 Provision for credit losses 4,305 4,043 4,234 5,149 3,484 Net interest income after provision for credit losses $60,494 $58,039 $55,752 $56,055 $56,238 Trust fees (1) $3,544 $3,395 $3,686 $3,456 $3,270 Investment advisory and management fees (1) 1,488 1,254 1,254 1,320 1,229 Deposit service fees 2,231 2,187 2,183 2,228 2,294 Gains on sales of residential real estate loans, net 529 556 297 734 385 Gains on sales of government guaranteed portions of loans, net 6 40 61 49 — Capital markets revenue 23,832 9,869 6,516 20,552 16,290 Earnings on bank-owned life insurance 952 998 524 797 814 Debit card fees 1,648 1,648 1,488 1,555 1,575 Correspondent banking fees 664 699 614 560 507 Loan related fee income 846 1,096 898 950 949 Fair value gain (loss) on derivatives and trading securities 324 230 (1,007) (1,781) (886)Other 587 143 378 205 730 Total noninterest income $36,651 $22,115 $16,892 $30,625 $27,157 Salaries and employee benefits $34,338 $28,474 $27,364 $33,610 $31,637 Occupancy and equipment expense 7,363 6,837 6,455 6,354 6,168 Professional and data processing fees 6,741 6,089 5,144 5,480 4,457 Restructuring expense — — — — 1,954 FDIC insurance, other insurance and regulatory fees 2,035 1,960 1,970 1,934 1,711 Loan/lease expense 345 407 381 513 587 Net cost of (income from) and gains/losses on operations of other real estate 3 50 (9) 23 (42)Advertising and marketing 1,830 1,746 1,613 1,886 2,124 Communication and data connectivity 40 274 290 345 333 Supplies 259 252 207 252 278 Bank service charges 678 720 596 635 603 Correspondent banking expense 338 314 329 328 325 Intangibles amortization 662 661 661 691 690 Goodwill impairment — — — — 431 Payment card processing 569 547 594 516 785 Trust expense 412 413 357 381 395 Other 974 839 587 551 1,129 Total noninterest expense $56,587 $49,583 $46,539 $53,499 $53,565 Net income before income taxes $40,558 $30,571 $26,105 $33,181 $29,830 Federal and state income tax expense 3,844 1,552 308 2,956 2,045 Net income $36,714 $29,019 $25,797 $30,225 $27,785 Basic EPS $2.17 $1.71 $1.53 $1.80 $1.65 Diluted EPS $2.16 $1.71 $1.52 $1.77 $1.64 Weighted average common shares outstanding 16,919,785 16,928,542 16,900,785 16,871,652 16,846,200 Weighted average common and common equivalent shares outstanding 17,015,730 17,006,282 17,013,992 17,024,481 16,982,400 ______________________________ (1) Trust fees and investment advisory and management fees when combined are referred to as wealth management revenue. QCR Holdings, Inc. Consolidated Financial Highlights (Unaudited) For the Nine Months Ended September 30, September 30, 2025 2024 (dollars in thousands, except per share data)INCOME STATEMENT Interest income $361,935 $360,215 Interest expense 175,068 189,631 Net interest income 186,867 170,584 Provision for credit losses 12,582 11,949 Net interest income after provision for credit losses $174,285 $158,635 Trust fees $10,625 $9,572 Investment advisory and management fees 3,996 3,544 Deposit service fees 6,601 6,302 Gains on sales of residential real estate loans, net 1,382 1,307 Gains on sales of government guaranteed portions of loans, net 107 36 Capital markets revenue 40,217 50,505 Earnings on bank-owned life insurance 2,474 4,646 Debit card fees 4,784 4,612 Correspondent banking fees 1,977 1,529 Loan related fee income 2,840 2,747 Fair value loss on derivatives and trading securities (453) (998)Other 1,108 1,102 Total noninterest income $75,658 $84,904 Salaries and employee benefits $90,176 $94,576 Occupancy and equipment expense 20,655 19,059 Professional and data processing fees 17,974 13,893 Restructuring expense — 1,954 FDIC insurance, other insurance and regulatory fees 5,965 5,510 Loan/lease expense 1,133 1,116 Net cost of (income from) and gains/losses on operations of other real estate 44 (44)Advertising and marketing 5,189 5,172 Communication and data connectivity 604 1,052 Supplies 718 812 Bank service charges 1,994 1,793 Correspondent banking expense 981 993 Intangibles amortization 1,984 2,070 Goodwill impairment — 431 Payment card processing 1,710 2,137 Trust expense 1,182 1,199 Other 2,400 2,420 Total noninterest expense $152,709 $154,143 Net income before income taxes $97,234 $89,396 Federal and state income tax expense 5,704 5,771 Net income $91,530 $83,625 Basic EPS $5.41 $4.97 Diluted EPS $5.38 $4.94 Weighted average common shares outstanding 16,916,371 16,814,787 Weighted average common and common equivalent shares outstanding 17,011,877 16,938,309 QCR Holdings, Inc. Consolidated Financial Highlights (Unaudited) As of and for the Quarter Ended For the Nine Months Ended September 30, June 30, March 31, December 31, September 30, September 30, September 30, 2025 2025 2025 2024 2024 2025 2024 (dollars in thousands, except per share data) COMMON SHARE DATA Common shares outstanding 16,838,866 16,934,698 16,920,363 16,882,045 16,861,108 Book value per common share (1) $64.55 $62.04 $60.44 $59.08 $57.92 Tangible book value per common share (Non-GAAP) (2) $55.78 $53.28 $51.64 $50.21 $49.00 Closing stock price $75.64 $67.90 $71.32 $80.64 $74.03 Market capitalization $1,273,692 $1,149,866 $1,206,760 $1,361,368 $1,248,228 Market price / book value 117.18% 109.45% 117.99% 136.49% 127.81% Market price / tangible book value 135.61% 127.45% 138.11% 160.59% 151.07% Earnings per common share (basic) LTM (3) $7.21 $6.69 $6.71 $6.77 $6.93 Price earnings ratio LTM (3) 10.49x 10.15 x 10.63 x 11.91 x 10.68 x TCE / TA (Non-GAAP) (4) 9.97% 9.92% 9.70% 9.55% 9.24% CONDENSED STATEMENT OF CHANGES IN STOCKHOLDERS’ EQUITY Beginning balance $1,050,554 $1,022,747 $997,387 $976,620 $936,319 Net income 36,714 29,019 25,797 30,225 27,785 Other comprehensive income (loss), net of tax 8,342 (1,671) 404 (9,628) 12,057 Common stock cash dividends declared (1,017) (1,016) (1,015) (1,013) (1,012) Repurchase and cancellation of shares of common stock as a result of a share repurchase program (8,993) — — — — Other (5) 1,315 1,475 174 1,183 1,471 Ending balance $1,086,915 $1,050,554 $1,022,747 $997,387 $976,620 REGULATORY CAPITAL RATIOS (6): Total risk-based capital ratio 14.03% 14.26% 14.18% 14.10% 13.87% Tier 1 risk-based capital ratio 10.85% 10.96% 10.81% 10.57% 10.33% Tier 1 leverage capital ratio 11.29% 11.22% 11.06% 10.73% 10.50% Common equity tier 1 ratio 10.34% 10.43% 10.27% 10.03% 9.79% KEY PERFORMANCE RATIOS AND OTHER METRICS Return on average assets (annualized) 1.57% 1.27% 1.14% 1.34% 1.24% 1.33% 1.27%Return on average total equity (annualized) 13.65% 11.15% 10.14% 12.15% 11.55% 11.68% 12.00%Net interest margin 3.00% 2.97% 2.95% 2.95% 2.90% 2.97% 2.85%Net interest margin (TEY) (Non-GAAP)(7) 3.51% 3.46% 3.42% 3.43% 3.37% 3.46% 3.30%Efficiency ratio (Non-GAAP) (8) 55.78% 58.89% 60.54% 58.26% 61.65% 58.17% 60.33%Gross loans/leases held for investment / total assets 75.01% 74.91% 74.53% 75.14% 73.30% 75.01% 73.30%Gross loans/leases held for investment / total deposits 97.25% 94.61% 92.96% 96.05% 95.38% 97.25% 95.38%Effective tax rate 9.48% 5.08% 1.18% 8.91% 6.86% 5.87% 6.46%Full-time equivalent employees (9) 994 1,001 972 980 976 994 976 AVERAGE BALANCES Assets $9,354,411 $9,155,473 $9,015,439 $9,050,280 $8,968,653 $9,176,349 $8,765,913 Loans/leases 7,048,314 6,881,731 6,790,312 6,839,153 6,840,527 6,907,731 6,739,773 Deposits 7,383,373 7,218,540 7,146,286 7,109,567 6,858,196 7,250,268 6,714,251 Total stockholders’ equity 1,075,715 1,041,428 1,017,487 995,012 962,302 1,045,090 929,341 ______________________________ (1) Includes accumulated other comprehensive income (loss).(2) Includes accumulated other comprehensive income (loss) and excludes intangible assets. See GAAP to Non-GAAP reconciliations.(3) LTM: Last twelve months.(4) TCE / TCA: tangible common equity / total tangible assets. See GAAP to non-GAAP reconciliations.(5) Includes mostly common stock issued for options exercised and the employee stock purchase plan, as well as stock-based compensation.(6) Ratios for the current quarter are subject to change upon final calculation for regulatory filings due after earnings release.(7) TEY: Tax equivalent yield. See GAAP to Non-GAAP reconciliations.(8) See GAAP to Non-GAAP reconciliations.(9) The increase in full-time equivalent employees in the second quarter of 2025 includes 21 summer interns. QCR Holdings, Inc. Consolidated Financial Highlights (Unaudited) ANALYSIS OF NET INTEREST INCOME AND MARGIN For the Quarter Ended September 30, 2025 June 30, 2025 September 30, 2024 Average Balance Interest Earned or Paid Average Yield or Cost Average Balance Interest Earned or Paid Average Yield or Cost Average Balance Interest Earned or Paid Average Yield or Cost (dollars in thousands)Fed funds sold $13,808 $154 4.36% $14,285 $159 4.40% $12,596 $173 5.37%Interest-bearing deposits at financial institutions 128,126 1,341 4.15% 151,898 1,634 4.31% 145,597 1,915 5.23%Investment securities - taxable 400,765 4,878 4.86% 401,657 4,805 4.79% 381,285 4,439 4.64%Investment securities - nontaxable (1) 952,542 13,841 5.81% 893,753 12,872 5.76% 760,645 10,744 5.65%Restricted investment securities 31,959 570 6.98% 34,037 622 7.23% 42,546 840 7.73%Loans (1) 7,048,314 115,094 6.48% 6,881,731 110,245 6.43% 6,840,527 116,854 6.80%Total earning assets (1) $8,575,514 $135,878 6.29% $8,377,361 $130,337 6.24% $8,183,196 $134,965 6.56% Interest-bearing deposits $5,197,006 $40,221 3.07% $5,080,367 $38,604 3.05% $4,739,757 $42,180 3.54%Time deposits 1,237,232 12,595 4.04% 1,193,035 12,409 4.17% 1,164,560 13,206 4.51%Short-term borrowings 2,022 21 4.15% 1,420 15 4.23% 2,485 32 5.07%Federal Home Loan Bank advances 204,786 2,348 4.49% 250,603 2,853 4.50% 445,632 5,972 5.24%Other borrowings 48,295 479 3.97% — — 0.00% — — 0.00%Subordinated notes 236,783 3,861 6.52% 233,631 3,599 6.16% 233,313 3,616 6.20%Junior subordinated debentures 48,936 690 5.52% 48,904 685 5.54% 48,806 693 5.56%Total interest-bearing liabilities $6,975,060 $60,215 3.42% $6,807,960 $58,165 3.42% $6,634,553 $65,699 3.93% Net interest income (1) $75,663 $72,172 $69,266 Net interest margin (2) 3.00% 2.97% 2.90%Net interest margin (TEY) (Non-GAAP) (1) (2) (3) 3.51% 3.46% 3.37%Adjusted net interest margin (TEY) (Non-GAAP) (1) (2) (3) 3.50% 3.45% 3.34%Cost of funds (4) 3.01% 3.01% 3.44% For the Nine Months Ended September 30, 2025 September 30, 2024 Average Balance Interest Earned or Paid Average Yield or Cost Average Balance Interest Earned or Paid Average Yield or Cost (dollars in thousands)Fed funds sold $12,385 $412 4.38% $15,196 $625 5.40%Interest-bearing deposits at financial institutions 149,287 4,778 4.28% 106,195 4,254 5.35%Investment securities - taxable 401,067 14,272 4.75% 377,538 12,986 4.57%Investment securities - nontaxable (1) 896,990 38,434 5.72% 717,284 29,557 5.50%Restricted investment securities 32,191 1,726 7.07% 41,348 2,383 7.57%Loans (1) 6,907,731 332,780 6.44% 6,739,773 337,244 6.68%Total earning assets (1) $8,399,651 $392,402 6.24% $7,997,334 $387,049 6.46% Interest-bearing deposits $5,094,180 $116,523 3.06% $4,639,937 $122,207 3.52%Time deposits 1,211,739 37,693 4.16% 1,121,508 37,679 4.49%Short-term borrowings 1,761 55 4.09% 1,846 76 5.47%Federal Home Loan Bank advances 211,189 7,197 4.49% 421,782 16,948 5.28%Other borrowings 16,275 479 3.93% — — 0.00%Subordinated notes 234,659 11,062 6.29% 233,207 10,678 6.10%Junior subordinated debentures 48,904 2,059 5.55% 48,774 2,074 5.59%Total interest-bearing liabilities $6,818,707 $175,068 3.43% $6,467,054 $189,662 3.91% Net interest income (1) $217,334 $197,387 Net interest margin (2) 2.97% 2.85%Net interest margin (TEY) (Non-GAAP) (1) (2) (3) 3.46% 3.30%Adjusted net interest margin (TEY) (Non-GAAP) (1) (2) (3) 3.45% 3.28%Cost of funds (4) 3.01% 3.41% ______________________________ (1) Includes nontaxable securities and loans. Interest earned and yields on nontaxable securities and loans are determined on a tax equivalent basis using a 21% effective federal tax rate.(2) See “Select Financial Data – Subsidiaries” for a breakdown of amortization/accretion included in net interest margin for each period presented.(3) TEY: Tax equivalent yield. See GAAP to Non-GAAP reconciliations.(4) Cost of funds includes the effect of noninterest-bearing deposits. QCR Holdings, Inc. Consolidated Financial Highlights (Unaudited) As of September 30, June 30, March 31, December 31, September 30, 2025 2025 2025 2024 2024 (dollars in thousands, except per share data) ROLLFORWARD OF ALLOWANCE FOR CREDIT LOSSES ON LOANS/LEASES Beginning balance $88,732 $90,354 $89,841 $86,321 $87,706 Change in ACL for transfer of loans to LHFS — — — 93 (1,812)Provision for credit losses 4,225 4,667 4,743 6,832 3,828 Loans/leases charged off (4,746) (6,490) (4,944) (4,787) (3,871)Recoveries on loans/leases previously charged off 559 201 714 1,382 470 Ending balance $88,770 $88,732 $90,354 $89,841 $86,321 NONPERFORMING ASSETS Nonaccrual loans/leases $42,167 $42,482 $47,259 $40,080 $33,480 Accruing loans/leases past due 90 days or more 43 7 356 4,270 1,298 Total nonperforming loans/leases 42,210 42,489 47,615 44,350 34,778 Other real estate owned — 62 402 661 369 Other repossessed assets 510 113 122 543 542 Total nonperforming assets $42,720 $42,664 $48,139 $45,554 $35,689 ASSET QUALITY RATIOS Nonperforming assets / total assets 0.45% 0.46% 0.53% 0.50% 0.39%ACL for loans and leases / total loans/leases held for investment 1.24% 1.28% 1.32% 1.32% 1.30%ACL for loans and leases / nonperforming loans/leases 210.31% 208.84% 189.76% 202.57% 248.21%Net charge-offs as a % of average loans/leases 0.06% 0.09% 0.06% 0.05% 0.05% INTERNALLY ASSIGNED RISK RATING (1) Special mention $76,750 $68,621 $55,327 $73,636 $80,121 Substandard (2) 67,319 81,040 85,033 84,930 70,022 Doubtful (2) — — — — — Total Criticized loans (3) $144,069 $149,661 $140,360 $158,566 $150,143 Classified loans as a % of total loans/leases (2) 0.94% 1.17% 1.25% 1.25% 1.03%Total Criticized loans as a % of total loans/leases (3) 2.01% 2.16% 2.06% 2.34% 2.20% ______________________________ (1) Amounts exclude the government guaranteed portion, if any. The Company assigns internal risk ratings of Pass for the government guaranteed portion.(2) Classified loans are defined as loans with internally assigned risk ratings of 10 or 11, regardless of performance, and include loans identified as Substandard or Doubtful.(3) Total Criticized loans are defined as loans with internally assigned risk ratings of 9, 10, or 11, regardless of performance, and include loans identified as Special Mention, Substandard, or Doubtful. QCR Holdings, Inc. Consolidated Financial Highlights (Unaudited) For the Quarter Ended For the Nine Months Ended September 30, June 30, September 30, September 30, September 30,SELECT FINANCIAL DATA - SUBSIDIARIES 2025 2025 2024 2025 2024 (dollars in thousands) TOTAL ASSETS Quad City Bank and Trust (1) $2,794,136 $2,662,450 $2,552,962 m2 Equipment Finance, LLC 211,524 242,722 349,166 Cedar Rapids Bank and Trust 2,760,379 2,664,293 2,625,943 Community State Bank 1,680,476 1,605,966 1,519,585 Guaranty Bank 2,446,635 2,365,944 2,360,301 TOTAL DEPOSITS Quad City Bank and Trust (1) $2,407,371 $2,309,942 $2,205,465 Cedar Rapids Bank and Trust 1,890,779 1,884,370 1,765,964 Community State Bank 1,296,255 1,272,296 1,269,147 Guaranty Bank 1,835,993 1,866,749 1,778,453 TOTAL LOANS & LEASES Quad City Bank and Trust (1) $2,118,791 $2,032,168 $2,090,856 m2 Equipment Finance, LLC 217,966 250,019 353,259 Cedar Rapids Bank and Trust 1,894,594 1,852,316 1,743,809 Community State Bank 1,269,359 1,206,735 1,161,805 Guaranty Bank 1,896,178 1,833,706 1,832,331 TOTAL LOANS & LEASES / TOTAL DEPOSITS Quad City Bank and Trust (1) 88% 88% 95% Cedar Rapids Bank and Trust 100% 98% 99% Community State Bank 98% 95% 92% Guaranty Bank 103% 98% 103% TOTAL LOANS & LEASES / TOTAL ASSETS Quad City Bank and Trust (1) 76% 76% 82% Cedar Rapids Bank and Trust 69% 70% 66% Community State Bank 76% 75% 76% Guaranty Bank 78% 78% 78% ACL ON LOANS/LEASES HELD FOR INVESTMENT AS A PERCENTAGE OF LOANS/LEASES HELD FOR INVESTMENT Quad City Bank and Trust (1) 1.24% 1.32% 1.49% m2 Equipment Finance, LLC 4.48% 4.26% 4.11% Cedar Rapids Bank and Trust 1.31% 1.35% 1.38% Community State Bank 0.97% 1.09% 1.06% Guaranty Bank 1.34% 1.29% 1.14% RETURN ON AVERAGE ASSETS (ANNUALIZED) Quad City Bank and Trust (1) 1.20% 1.24% 0.76% 1.25% 0.81%Cedar Rapids Bank and Trust 3.26% 2.36% 2.52% 2.60% 2.84%Community State Bank 1.40% 1.31% 1.46% 1.27% 1.33%Guaranty Bank 1.30% 0.85% 1.28% 0.96% 1.20% NET INTEREST MARGIN PERCENTAGE (2) Quad City Bank and Trust (1) 3.40% 3.45% 3.50% 3.43% 3.40%Cedar Rapids Bank and Trust 4.03% 3.99% 3.88% 4.01% 3.80%Community State Bank 3.90% 3.87% 3.76% 3.85% 3.74%Guaranty Bank (3) 3.22% 3.11% 3.12% 3.13% 3.03% ACQUISITION-RELATED AMORTIZATION/ACCRETION INCLUDED IN NET INTEREST MARGIN, NET Community State Bank $(1) $(1) $(1) $(3) $(3)Guaranty Bank 216 118 496 552 1,194 QCR Holdings, Inc. (4) (33) (33) (32) (98) (97) ______________________________ (1) Quad City Bank and Trust amounts include m2 Equipment Finance, LLC, as this entity is wholly-owned and consolidated with the Bank. m2 Equipment Finance, LLC is also presented separately for certain (applicable) measurements.(2) Includes nontaxable securities and loans. Interest earned and yields on nontaxable securities and loans are determined on a tax equivalent basis using a 21% effective federal tax rate.(3) Guaranty Bank’s net interest margin percentage includes various purchase accounting adjustments. Excluding those adjustments, net interest margin (Non-GAAP) would have been 3.00% for the quarter ended September 30, 2025, 2.86% for the quarter ended June 30, 2025, and 2.94% for the quarter ended September 30, 2024.(4) Relates to the junior subordinated debentures acquired as part of the Guaranty Bank acquisition in 2017 and the Community National Bank acquisition in 2013. QCR Holdings, Inc. Consolidated Financial Highlights (Unaudited) As of September 30, June 30, March 31, December 31, September 30,GAAP TO NON-GAAP RECONCILIATIONS 2025 2025 2025 2024 2024 (dollars in thousands, except per share data)TANGIBLE COMMON EQUITY TO TANGIBLE ASSETS RATIO (1) Stockholders’ equity (GAAP) $1,086,915 $1,050,554 $1,022,747 $997,387 $976,620 Less: Intangible assets 147,672 148,333 148,995 149,657 150,347 Tangible common equity (non-GAAP) $939,243 $902,221 $873,752 $847,730 $826,273 Total assets (GAAP) $9,568,302 $9,242,331 $9,152,779 $9,026,030 $9,088,565 Less: Intangible assets 147,672 148,333 148,995 149,657 150,347 Tangible assets (non-GAAP) $9,420,630 $9,093,998 $9,003,784 $8,876,373 $8,938,218 Tangible common equity to tangible assets ratio (non-GAAP) 9.97% 9.92% 9.70% 9.55% 9.24% ______________________________ (1) This ratio is a non-GAAP financial measure. The Company’s management believes that this measurement is important to many investors in the marketplace who are interested in changes period-to-period in common equity. In compliance with applicable rules of the SEC, this non-GAAP measure is reconciled to stockholders’ equity and total assets, which are the most directly comparable GAAP financial measures. QCR Holdings, Inc. Consolidated Financial Highlights (Unaudited) GAAP TO NON-GAAP RECONCILIATIONS For the Quarter Ended For the Nine Months Ended September 30, June 30, March 31, December 31, September 30, September 30, September 30,ADJUSTED NET INCOME (1) 2025 2025 2025 2024 2024 2025 2024 (dollars in thousands, except per share data)Net income (GAAP) $36,714 $29,019 $25,797 $30,225 $27,785 $91,530 $83,625 Less non-core items (post-tax) (2): Income: Fair value loss on derivatives, net (223) (397) (156) (2,594) (542) (776) (831)Total adjusted income (non-GAAP) $(223) $(397) $(156) $(2,594) $(542) $(776) $(831) Expense: Goodwill impairment — — — — 431 — 431 Restructuring expense — — — — 1,544 — 1,544 Total adjusted expense (non-GAAP) $— $— $— $— $1,975 $— $1,975 Adjusted net income (non-GAAP) (1) $36,937 $29,416 $25,953 $32,819 $30,302 $92,306 $86,431 ADJUSTED EARNINGS PER COMMON SHARE (1) Adjusted net income (non-GAAP) (from above) $36,937 $29,416 $25,953 $32,819 $30,302 $92,306 $86,431 Weighted average common shares outstanding 16,919,785 16,928,542 16,900,785 16,871,652 16,846,200 16,916,371 16,814,787 Weighted average common and common equivalent shares outstanding 17,015,730 17,006,282 17,013,992 17,024,481 16,982,400 17,011,877 16,938,309 Adjusted earnings per common share (non-GAAP): Basic $2.18 $1.74 $1.54 $1.95 $1.80 $5.46 $5.14 Diluted $2.17 $1.73 $1.53 $1.93 $1.78 $5.43 $5.10 ADJUSTED RETURN ON AVERAGE ASSETS AND AVERAGE EQUITY (1) Adjusted net income (non-GAAP) (from above) $36,937 $29,416 $25,953 $32,819 $30,302 $92,306 $86,431 Average Assets $9,354,411 $9,155,473 $9,015,439 $9,050,280 $8,968,653 $9,176,349 $8,765,913 Adjusted return on average assets (annualized) (non-GAAP) 1.58% 1.29% 1.15% 1.45% 1.35% 1.34% 1.31%Adjusted return on average equity (annualized) (non-GAAP) 13.73% 11.30% 10.20% 13.19% 12.60% 11.78% 12.40% NET INTEREST MARGIN (TEY) (3) Net interest income (GAAP) $64,799 $62,082 $59,986 $61,204 $59,722 $186,867 $170,584 Plus: Tax equivalent adjustment (4) 10,864 10,090 9,513 9,698 9,544 30,467 26,803 Net interest income - tax equivalent (non-GAAP) $75,663 $72,172 $69,499 $70,902 $69,266 $217,334 $197,387 Less: Acquisition accounting net accretion 182 84 184 471 463 451 1,094 Adjusted net interest income $75,481 $72,088 $69,315 $70,431 $68,803 $216,883 $196,293 Average earning assets $8,575,514 $8,377,361 $8,241,035 $8,241,190 $8,183,196 $8,399,651 $7,997,334 Net interest margin (GAAP) 3.00% 2.97% 2.95% 2.95% 2.90% 2.97% 2.85%Net interest margin (TEY) (non-GAAP) 3.51% 3.46% 3.42% 3.43% 3.37% 3.46% 3.30%Adjusted net interest margin (TEY) (non-GAAP) 3.50% 3.45% 3.41% 3.40% 3.34% 3.45% 3.28% EFFICIENCY RATIO (5) Noninterest expense (GAAP) $56,587 $49,583 $46,539 $53,499 $53,565 $152,709 $154,143 Net interest income (GAAP) $64,799 $62,082 $59,986 $61,204 $59,722 $186,867 $170,584 Noninterest income (GAAP) 36,651 22,115 16,892 30,625 27,157 75,658 84,904 Total income $101,450 $84,197 $76,878 $91,829 $86,879 $262,525 $255,488 Efficiency ratio (noninterest expense/total income) (non-GAAP) 55.78% 58.89% 60.54% 58.26% 61.65% 58.17% 60.33%Adjusted efficiency ratio (adjusted noninterest expense/adjusted total income) (non-GAAP) 55.62% 58.54% 60.38% 56.25% 58.45% 57.95% 59.16% ______________________________ (1) Adjusted net income, adjusted earnings per common share, adjusted return on average assets and average equity are non-GAAP financial measures. The Company’s management believes that these measurements are important to investors as they exclude non-core or non-recurring income and expense items, therefore, they provide a more realistic run-rate for future periods. In compliance with applicable rules of the SEC, these non-GAAP measures are reconciled to net income, which is the most directly comparable GAAP financial measure.(2) Non-core or non-recurring items (post-tax) are calculated using an estimated effective federal tax rate of 21% with the exception of goodwill impairment which is not deductible for tax.(3) Interest earned and yields on nontaxable securities and loans are determined on a tax equivalent basis using a 21% effective federal tax rate.(4) Net interest margin (TEY) is a non-GAAP financial measure. The Company's management utilizes this measurement to take into account the tax benefit associated with certain loans and securities. It is also standard industry practice to measure net interest margin using tax-equivalent measures. In compliance with applicable rules of the SEC, this non-GAAP measure is reconciled to net interest income, which is the most directly comparable GAAP financial measure. In addition, the Company calculates net interest margin without the impact of acquisition accounting net accretion as this can fluctuate and it's difficult to provide a more realistic run-rate for future periods.(5) Efficiency ratio is a non-GAAP measure. The Company’s management utilizes this ratio to compare to industry peers. The ratio is used to calculate overhead as a percentage of revenue. In compliance with the applicable rules of the SEC, this non-GAAP measure is reconciled to noninterest expense, net interest income and noninterest income, which are the most directly comparable GAAP financial measures. Source: QCR Holdings, Inc.