QCR Holdings, Inc., the parent company of Quad City Bank & Trust, announced record quarterly net income of $36.7 million and diluted earnings per share of $2.16 for the third quarter.
In an earnings report released Wednesday, Oct. 22, the Moline-based holding company said the results compared to its second quarter 2025 net income of $29.0 million and diluted EPS of $1.71.
Adjusted net income and adjusted diluted EPS for the latest quarter, ended Sept. 30, were $36.9 million and $2.17, respectively, compared to $29.4 million and $1.73, respectively, for the previous quarter and $30.3 million, and $1.78, for third quarter of 2024.
QCR is the parent of wholly owned bank subsidiaries in the Quad Cities; Cedar Rapids, Cedar Valley and Des Moines/Ankeny in Iowa; and Springfield, Missouri, markets.
“We delivered outstanding third quarter results, achieving record net income and strong EPS growth of 26% compared to the second quarter,” QCR President and CEO Todd Gipple said in the release. “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.”
Now headquartered in the former Velie Mansion in Moline, QCR broke ground in mid-May on a new headquarters and Quad City Bank & Trust branch in northern Bettendorf in the rapidly growing area surrounding the TBK Bank Sports Complex. The new 100,000-square-foot office complex is being built on what was vacant farmland in the heart of The Plex commercial area at Forest Grove Drive and Middle Road.
3Q earnings highlights
Other highlights from the third quarter report include:
- Net interest income for the quarter of 2025 totaled $64.8 million, an increase of $2.7 million, or 18% annualized, from the second quarter of 2025. It was driven by strong earning asset growth, expanded loan and investment yields, and a stable cost of funds.
- Noninterest income for the quarter 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 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.
- Total loans and leases held for investment grew by $253.7 million, to $7.2 billion, in the third quarter.
- Total core deposits increased by $99 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. Total deposits have averaged $7.3 billion year-to-date, an increase of $536.0 million, or 8%.
Share repurchase
As part of the earnings release, QCR also announced that its board of directors approved a new Share Repurchase Plan for up to 1.7 million shares.
QCR reported that from the beginning of the third quarter through Monday, Oct. 20, it returned $10.0 million of capital to shareholders with 129,056 shares repurchased at an average price of $77.49 per share.
Also on Monday, the QCR Board of Directors authorized the share repurchase program to permit the repurchase of up to 1.7 million shares of its outstanding common stock, or approximately 10% of the outstanding shares as of Sept. 30. It replaces a prior repurchase program, announced in May of 2022, that has been terminated.
“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, who took the helm of the company in May.
Loan growth in LIHTC
“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,” Mr. Gipple said. “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 …”
He added that the LIHTC lending team has been working to extend QCR’s market position and gained additional projects from its long-term developer clients as well as new relationships with 10 experienced LIHTC developer clients.
“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,” he added.
