Guaranty Bank parent company's Q4 profits rise by 18%

Moline, Illinois-based QCR Holdings Inc. (Nasdaq: QCRH), the parent company of Guaranty Bank in Springfield, ended 2024 with an increase in net income.

QCR Holdings reported fourth-quarter profits of $35.7 million, a roughly 18% increase from $30.2 million in the same quarter of 2024, according to a news release. Year-over-year diluted share earnings rose to $2.21 from $1.93.

For the full year, net income was $127.2 million, an 11.7% increase from $113.9 million in 2024.

"We delivered our strongest quarter and record full-year results as we continue to see improved performance in our traditional banking, wealth management and (Low-Income Housing Tax Credit) lending businesses," QCR Holdings President and CEO Todd Gipple said in the release. "Performance was very strong across all key operating metrics, approaching or exceeding the upper end of our guidance ranges for net interest margin expansion, gross loan growth and capital markets revenue."

According to the release, Guaranty Bank's assets were $2.4 billion, and deposits were $1.8 billion as of Dec. 31. QCR Holdings' total assets were $9.6 billion, and deposits were $7.4 billion at the end of the year.

QCRH shares were trading at $92.86 as of 9:19 a.m., compared with a 52-week range of $60.83 to $94.30 per share.