QCRH - Earnings call transcript Q3 2024

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Operator

Greetings, and welcome to the QCR Holdings, Inc. Earnings Conference Call for the Third Quarter of 2024.

Yesterday, after market close, the company distributed its third quarter earnings press release. If there is anyone on the call who has not received a copy, you may access it on the company's website, www.qcrh.com.

With us today from management are Larry Helling, CEO; and Todd Gipple, President and CFO. summary call financial to a we'll and provide the open questions will of results, the then Management from analysts.

I information today Commission. begin, some defined by of we would and remind as to Before Exchange Securities everyone forward-looking of statements the under we'll falls providing the be the guidelines like that

from company's are these and materially predictions expectations of made projected. forward-looking part could beliefs, and those any As results during this the future hopes, statements guidelines, call statements, actual concerning the of differ

Additional available website. on which information is company's the included on these on factors SEC filings, are company's the

Additionally, measures, most today and information to supplement directly the to well refer GAAP website release management the measures. other but quantitative to as measures. non-GAAP GAAP the may financial press The to which are as reconciliation the discussed comparable for be of available non-GAAP not the substitute on intended contains

and through company's afternoon, As hour It being this available of this the be recorded is will this starting be XXXX, call. also replay a accessible conference approximately the X, completion on will for website. after reminder, X November

will the call over QCR Holdings. to I now Larry Helling Mr. turn at

Larry Helling

highlights operator. performance will start you today. thank Thank by additional everyone, details. strong with for follow our for us presenting joining Welcome, you, the and quarter, Todd some of financial I'll and

margin We produced and in expansion. exceptional income third quarter interest results, highlighted growth by our net significant

We grew controlled, continues Core deposits quality had of funds. and excellent. and core quarter management strong total another be credit also revenue. maintained markets to our We well cost a capital and remained expenses of stable wealth

value. to tangible led a in this book All increase of significant

share. at $X.XX $X.XX of million and be an Net higher the adjusted on group. We X.XX% basis our of which an ROAE was of diluted the generated ROAA income or or per share XX.XX%, diluted during peer income This adjusted quarter. net $XX adjusted to of an continues $XX per produced million end

the expanded is with in is XX.X% loan securitized X%. This target was $X.X third total increased combined by growth year-to-date This when growth income Annualized XX%. Our net third significantly above driven loans an range quarter by margin. nearly the quarter. of our or million in including balances, annual just that were interest in X% investment X% to loan strong or and

low-income loan have and Our growth. lending the housing credit program conventional our lending tax of drivers commercial our business primary been

We this growth Total of have a securitizations. growth and through a liquidity deposit has loan robust core from our annualized funded combination deposit growth been loan provided year-to-date X.X%.

basis produced with higher margins Stabilizing deposit and higher balances, quarter. yields, drove NIM investment loan the an in noninterest-bearing cost adjusted combined and and from X point prior expansion

total income was the noninterest $XX primarily markets by quarter $XX of million our million. for third capital Our driven revenue

Additionally, management. generate in our continues assets under outstanding wealth management growth business to

under by of nearly $X We or new volume. XX% significant assets billion driven have added client year-to-date management

support key continued We Our Central in AUM revenues addition XX% business. growth Southwest the favorable regions management of strong that year-to-date. drove XX% believe help the and in for increase annualized Iowa total continued quarter growth and market the personnel and a will Missouri conditions in wealth this

operating diligently annualized. X% only adjusting for noninterest manage expenses. have core increased items, continue to We onetime our Year-to-date, expenses after

for announced expenses Finance total onetime increased changes the During impairment. primarily prior goodwill expenses charge We from to due a our noninterest of restructuring quarter, incurred quarter, the third the subsidiary. Equipment million and mX at $X.X

quarters. over recover X to expect these next the We costs

lines change risk-adjusted banking that and franchise. finance to This generate on returns. new The to decision will our core reinforces to equipment to business reallocate discontinue improve higher profitability, our capital liquidity us allow providing focus increase leases and loans our business

well to improved and as assets a below and static assets percent averages. of when our excellent quality our compared remain historical asset credit were last total prior Nonperforming remains from trends Our quarter. quarter the

Total lower for the total classified are fourth lower, declined loans criticized having consecutive quarter. loans are meaningfully and also

loans $X was improvements of overall credit quarter percent as lower held for a due credit investment losses was million losses quality. X.XX% in for The this credit for allowance to Our total provision the for quarter.

by the economic of encouraged the sheet and our markets balance clients. of are We stability our strength

are our meaningful indicators seeing of We not financial any across stress markets.

We comfortable estate with are commercial real our concentration levels.

entire this high-quality We class. solid the performance class our roughly has for best our make portfolio. asset LIHTC is and record Our X up several in of investment long credit loans cycles. a track that through loan asset this LIHTC half believe exposure The in of nearly decades industry to

total excluding indications LIHTC estate of real of low remains and suburban of concerns. consistent with size an of loan X% less than repayment properties average only our Commercial expectations Our office of Most loans, XXX% with capital. in total are markets no is exposure, risk-based these $XXX,XXX. commercial with performing are at space exposure loans

a We continue program our company. This lending capital markets LIHTC generates which meaningfully to for have contributes initiative has of program been key LIHTC to strategic income. robust revenue, a pipeline loans. high-quality our noninterest significant The

their securitization and In ideal due addition, are loans substantial strong investor record LIHTC demand. track to for

Securitization increases liquidity sheet, of expands our LIHTC net improves loans improves and TCE, our the optionality in our interest balance margin.

continue Additionally, we of our book $XX tangible Securitizations and sheet our growth. as to value the on-balance drive it the billion moderates asset earnings approach growth will level. sustainability

targeted the is fourth for securitization next quarter. Our

to and focus levels regulatory on our solid, capital. we increasing continue Capital are

ratio earnings generate combined than steady our to with and TCE Our our peers. capital and our modest dividend, strong more us increase quickly growth, allows

client-focused, value EPS to well-being live in which are meaningful performance, work. and by growth. positive includes delivering book we share a creating and top tangible quartile financial dedicated communities We employee in the create impact value per and which ROAA delivering remaining top-tier growth, We shareholder

we performance. industry-leading believe to and outstanding client to strong committed will which are service, we results summary, In operating continue drive

to to our I third will now details turn regarding the results. call over provide quarter Todd further

Todd Gipple

everyone. Thank you, with quarter. joining earnings Thanks I'll the morning, my today. comments our details us for for start Larry. Good on performance

per share $X.XX million of We for or the $XX diluted delivered adjusted quarter. net income

income, were markets capital income from net management Our and growth driven noninterest revenue, solid financial expenses. wealth core with results well-managed strong by combined interest in significant

was X% second combined quarter growth Net expansion. linked significant $X.X in million was strong with income margin investments, This from interest in million, NII driven and $XX growth increase by loans a quarter. the

NIM upper tax exceeded yields a on second quarter of equivalent of and our investment guidance. costs. a by end improving the the basis basis increase yield deposit fueled from X expanded combination loan adjusted points and Our by and stable The was

Fed's sheet, lower are our with quarter. positioned to to from decision ahead, rates balance benefit in interest the the Looking third we liability-sensitive well

growth mix fourth the income interest Assuming funding and a in no quarter. Fed stable net action, for continued we anticipate additional

TEY to X quarter of range We between in increase are fourth updating and in our X guidance for the points. NIM basis the adjusted

Our noninterest quarter, of continued strong supported million capital $XX was income for revenue million. third markets $XX the by

fees revenue from steady for continue by affordable to be and demand Our fueled housing. the LIHTC lending swap

Our pipeline business in this remains healthy.

next be are, We $XX in $XX of a months the capital million. to therefore, for range million reaffirming guidance XX markets revenue our to

extremely our by knowledgeable the we and business with of Year-to-date, X management annualized management legal advisers driven our markets. our wealth growth value is wealth grown and expansion growth that have relationships billion generated base client proposition high-touch network XX% second our of the into key by management and increase driven strong deliver, referral quarter, the existing This of assets clients built sources. $X the a Our team revenue million in business $X.X under quarter. in from third of of advisers our trusted the a this have by

adverse in quarter, During portfolio. the we If the of value ratios capped the the as gains company's interest the a These interest in $XXX would noncore a capital with item. reflect of or These designed strategy derivative regulatory swaps unhedged notional that premium. upfront to impact long-term effects executed value a our third the will we in the against derivatives rates derivative a derivatives our value income reduction decline a are recorded long-term significant market and back-to-back in of of noninterest million. with safeguard LIHTC are and increase, mark-to-market, at loan are reflected rates losses

rates offset capital of derivative the interest our ratios. will record market risk will decline, to regulatory in long-term increase we should help the an value the that However,

loss we derivatives recorded For of those the on quarter, a $XXX,XXX.

result execution. economics we to recorded addition, the securitization quarter. $XXX,XXX a due on better our anticipated improved in This was third In in the loss than

increase from higher an $XX advertising onetime of noninterest million, core quarter million the our incentive $XX and Now $X included noninterest our quarter turning quarter expenses range $X.X driven expenses. of increase restructuring totaled and third expense within resulting from was of $XX for million, for linked resulted The for our onetime quarter new Noninterest discontinue business. charges equipment expenses. increase $XX the in the Adjusting The to third leases decision the primarily million. million. million approximately expense through offering those charges to to and guidance in and by totaling compensation our expenses goodwill impairment loans finance prior

increased expenses year-to-date remain X% only annually. having Our noninterest core controlled, well

carefully We operating continue manage core to our expenses.

automation, team a with Our approach best-in-class multi-charter our technology includes and investments combined operations that banking community model. supports in

we expenses to fourth $XX range to million $XX quarter, be we continue expect look noninterest As million. of to our the ahead in the to

were grown and $XXX million of loans million our range of Turning the loans to total or deposits guidance grown the loans above annualized, in by XX.X% $XXX by Including have that funded X% million. securitized year-to-date to balance $XXX Year-to-date, of sheet. have X% total our quarter, just during growth core XX%.

for designated $XXX planned securitization LIHTC million our sale. we of as for loan of quarter, next loans anticipation held In fourth have the

reduced securitization underscores securitizing continued within create our business revenue it LIHTC the and strategy the we we loans, future sustained significant revenue generates. enhanced swap and maintain liquidity, long-term Our markets strengthened By concentration for LIHTC our capital TCE, of LIHTC success established generation, portfolio levels. costs, funding capacity

of in stabilized will loans. consist of LIHTC securitization fourth the upcoming million quarter Our taxable $XXX

expect execution last and lower costs. future transaction has initial securitizations with improved year, since and economics administrative late our we from securitizations improved Our

million X% combination focus an Total $XXX growth during us core annualized Deposit increased deposits remains core million reliance have a quarter. funding. our on or total company cost with or in basis. $XXX our and, higher or decrease annualized deposits for increased Year-to-date, the helps XX% wholesale securitizations, on

and uninsured XX% low quite total deposits uncollateralized Our total at deposits. remain of

end, billion liquidity instantly quarter at company had accessible liquidity. billion the $X Additionally, $X.X approximately available of includes which of

Turning quality, to our excellent. asset remains which

During basis loans and criticized improvement, fourth decreased resulting a the This million points total consecutive reduction total the loans of quarter of XX balances. X.XX% criticized marks leases. quarter, to $XX in in total

or points is which XX $XX $X million to relationships Two basis NPAs increase million in of by quarter. this static moderate assets, total the drove to prior increased NPAs.

NPAs our of total are XX% X comprised relationships. just approximately of Additionally,

credit quarter, due improvements. losses to We was for reduction the losses during a of the The quarter. decline quarter $X primarily the credit in from million prior provision for during quality the the credit recorded provision of total $X.X a overall million representing

included primarily for $X.X third charge-offs million at the prior quarter, smaller The increase and from an were leases million loans in charge-offs increase $X.X Net the mX. of quarter. net

The X.XX% quarter. credit for to investment decreased losses total X.XX% allowance to loans the prior held for of from as

X.XX% Our was and common in increased equity basis strong improvement to up the to at tangible in XX X% ratio tangible AOCI. at from end, quarter end an by TCE of assets very June. The increase by driven earnings points

capital XX.XX% We risk-based investment ratio our growth, in capital ratio regulatory peer end, equity quartile due and decreased loan common growing and the targeting total strong to earnings. group. to on sizable top Our our partially TCE decreased of X Tier quarter remain at focused to our and X.XX% by offset

increase grew the quarter. share, XX% significant growth book which $X.XX, value for saw representing in annualized another per our We a tangible by

our a our compound has more past to on financial XX% the performance shareholder strong TBV and value. long-term X Over highlighting grown years, annual commitment basis, by building than

rate Finally, end just of X%, our for low the quarter under our the tax was guidance. effective

and Our consistently high-yielding, tax-exempt obligation portfolios low and tax our bond our have benefited shareholders. preserved loan

the fourth rate in effective be our in We XX% the expect continue X% tax range to to to of quarter.

our With quarter questions. let's context Operator, for on for are first financial ready call added third our open the results, we question. that your

Operator

first Our from comes KBW. question DelMonte Damon with Instructions] [Operator

Damon Del Monte

I question, on the just to First back commentary, wanted circle Todd. margin

to Is any you I rates. that characterized guidance for your way in the changes absent is think that? the quarter, basis points here X X said you in fourth of expansion

Todd Gipple

does that we to get X to X If could were for cut. not Yes, points add or question. X early November, additional you to guide points action the Damon. basis in NIM the include range. Thanks that X an Yes, basis

Damon Del Monte

Got it.

Okay.

X So for points XX basis or cut? every X basis points

Todd Gipple

Yes. Correct.

Damon Del Monte

think could tied I Could kind of us of And amount an please? that that remind remind to us are reprice? deposits you Okay. the the index, immediately. just of it's you that,

Todd Gipple

the cut. we one We action. Fed those much down $X.X That's We in we that. do to points of XX that the We points $XXX core took basis happy high the range performance after not be I'd Damon. as half somewhere deposits. in to reasons beta, indexed Sure, had good directly had took down another but XX billion day the actually the $X.X of basis the the back million of $XXX third of since of had Fed repriced immediately such million billion, XX like the quarter. as

those our So RSLs. buckets are two of big

right RSLs are billion. $X.X Our around $X.X RSAs total billion. are

we continue really have reductions. impacting So overpowering and nice on seeing delta rate yet. We're that not to a RSLs loan yields the

saw, rate even cuts, the QX, were have of up to of loan yields you pleased that As so in very reprice level face to RSLs immediately.

Damon Del Monte

it. Got

for of there this And items from reiterated over Okay. $XX of $XX be Or quarter that kind what away going kind that, the in level. that expenses, keep you half to just in here the million looking then million of the might outlook Is some you $XX of Great. you gives you kind on are that With secondly, the the upper confidence quarter range? end on not quarterly at expenses? getting fourth could kind how quarter? the third the of million

Todd Gipple

Yes, We to those had recover so of third QX upfront we that the charges from reduced year. $XXX,XXX quarter, next roughly One, we're benefit next two mX over but expenses the quarters, the will QX, going and with X decision. in things.

it higher kicking in So growing up performance in, would incentives that per of to really of earnings against that to thing end bring in things, continue think that's might I quarter. the below We moving think, for some those growing a with share. us still the parts. can only fourth the helping. may cause the that see or bump if million in, be have we good growing would range high we be, $XX success Then NII, two lot earnings, and I probably

of And a fan incentive big as you we're comp. know,

incentives. approach. like have So our with our that We employees XX% compensation rewarded year, far like We of about get this those is then to shareholders incentivized. and first

can that's So range. what's confidence the given we it within hold us

Operator

comes question next Our from Race Sandler. Piper with Nathan

Nathan Race

as much repricing that balance back to versus is the securitization Curious how going next you the of well? of Just the of the further versus deleveraging side loans in the function just just a the XQ sheet in XQ planned discussion. what balance have margin sheet of on expect with in expansion right you terms

Todd Gipple

if holding to X maybe half in question Of Sure. cut that on XX benefit say I the Nate, we basis the accretion for would to I of No, guess, a clarifying loan get more thanks, early client-based say of the November, point that. of really X would yield, repricing or X to margins. really, on X, I deposits, about that is

deck one quarter. the from middle benefit say, on the that. let's accomplished maybe And securitizations we have half of QX half So other roughly be the the and in fourth the here would of for

So probably about half and half.

Nathan Race

the in Okay. the securitizations any door of you. improvement out seeing more lately? these you are economics getting you're as the Got And on

Todd Gipple

asking for that, Thanks are. about absolutely Yes, Nate.

about good had in there. that So [ did ] have loss outcome of very tax-exempt half than $XXX,XXX, actually of our in less a expectation a million but guidance. QX, $XXX loans. we was modest our and We of initially did

I think last million be might we that a loss. quarter guided $X

continued So and on better execution those. better

we on expect taxable quarter we our million quarter a The that of we're million here that going indicated doing $XXX there to that that fourth one the reaffirm $X guidance we'll to last be million, $X gain in execution.

year net $XXX doing million million of $X.X million for probably around $X.X the securitization. So a gain to full on

around ones If that that and gain a had late only about same million, $XXX of on our last of $XXX,XXX first activity. you recall, level did volume year we we

economics to this. see better asking, So as perfect execution stronger and we you Nate. I do We continue appreciate

Nathan Race

That's Got switching markets great And revenue. capital hear. just then you. to to

XX-month obviously You last exceeded guys of you've provided next have guidance now. for quarterly the the over that average midpoint kind several the of quarters the

just thoughts vertical. any the of curious just across the a why that function see what part fairly increase Or are and we Is it in recently? guys the of X-year of updated just on curve that kind that you seeing you're XX- just still conservative So some more of remaining there or kind front. of pipeline the on

Larry Helling

Nate, this I'll one. take

inherent businesses. know, some you As variability there's in these quarter-to-quarter

in tended last was right on we've quarter to numbers. how performance for these our of conservative this. this we've be guided for So X-year The top average

continues be pipeline the strong. to So

we So potentially this faster we certainly in don't we've now, get at. once see a the remains we in here we pipeline. of And to we're in But change pipeline. this outlook That We consistency where could we've create space. transactions time in of do to over to positive this What trying as is the business. much do takes kind the right like because been level. possible people after consistent a this baseline it. like grow got as

Nathan Race

maybe one have excess Very And forward. capital me while one Curious last your Okay. Larry. you, updated I for helpful. on get to management going thoughts

built You to year course TCE not in continues pretty margin likely as that over will and play increase, the guys next if the obviously continue, of the quarter, nicely out. improvement

So just to order to optimize that curious just tangible. on thinking about return you're in managing how TCE try

Larry Helling

Yes. all now. economy interest of, call certainly the things variability and There's and a in lot rates it, right and those I'll outlook

for So to We're of us where do certainly certainly our not rid things to in to going in have TCE we're some that's get a next capital. rush spot an a option year.

enough to want we sure growth. capital we've support all, to of got our make First

of Our uniquely our been growth to has peers. good most compared

want So that. capital we to support

we'd Then We And year. right good now, got us. momentum, of becomes We go be don't just probably look we and M&A transaction might next we're a of want it's when not right would to distracted that probably in and next the buybacks We've to sub M&A, purview that at some portion some some our how at later be lastly, look get such of think now. callable. executing not an we're on place right the may Secondly, priority debt. that going to retire our for distracting, a year.

Operator

Our next Jeff question Davidson. D.A. with comes Rulis from

Jeff Rulis

in fourth Todd, XX think the back to just 'XX? I to positive but that next to wanted the you change, can direction. the imagine certainly appreciate quarter. It I point get year, holds would that into 'XX on tailwind feel and do I margin. general year, sounds into circle close understanding components for other per guide into cut, basis your on relationship X to X a wanted the

Todd Gipple

appreciate continue would that Fed $X of expect to continue margin million, the asking. improvement We million Fed million, I annual Jeff. of you NII to $X.X kind Sure, million in were accretion rates for cuts. quarter to if cutting $X every $X

So reasonable it's year to we're full of the there's expect be dollars But some that with other think And cut. actually have into to lot January that percentage you go to And I I linear. nice in it lift continue results. we expect on to perfectly that see to detailed were that. does in a if 'XX NIM going more do won't NII continue think that, saying Fed things 'XX guidance and

that's think assume to fair I So that.

Jeff Rulis

Okay. I wanted to a hop into credit minute. for

of in Was mX? I Is due think also that mentioned the a criticized? drop you that also were in case net lowering charge-offs bulk mX-related. the the to

Larry Helling

which several really business, guess I'd the some is in a stress is a drop mean, business was charge-offs of of in. call several some The little I bit Yes. business the elevated. small mX Where the maybe sector upgrades, credit were micro I seeing we're combination that factors,

And portfolios really on pressures cost the some to deal business is micro with their they're structures. inflation struggled that really other have ones the as of in our

of really a those so it's factors. And combination

they're past. It's XX% that. still of certainly hopefully, And that classified. those reserve because environment that We lows through. are XX-year resolved, this me. we've That's work a made to you. to good. perspective already just NPAs, couple our in to can I'd got got But close that to be talked got deal, our being just in that kind a X we've resolved. to some seems the closer kind in That's we of we where forward-looking next that's few I'd forward-looking quarters, We've to indicated, books NPAs not we in that now. right in X to When the off as handful NPA of and numbers say get surprisingly tell of and we're That handle crazy the good the the it taken criticized we've and like progress. needs our classified, about criticized

So we the strong really credit know outlook right now given is what today.

economy on, the all pretty those X and today, it in Now what looks going like and given the it quarters. volatility rosy. who But rates will things gee, of look knows interest

Jeff Rulis

landscape, of in it. that Got to last a changed loan you as has sort could is, of if question. at if parts on two, months. have post of all, more cut? guess more And evolved like guess One the that's how seen the one. I Fed you I'm Interested the couple I And then how well? in touch demand one, competitive speaking behavior, two last customer

Larry Helling

back with I'll end start first. Yes. the

able this Our growth yield and and power things. XX% a those year. a a have bit steady to grow maybe over pricing norms historical compared pricing of LIHTC good. been we've business. our a to loan power That's the at demand got of to pipeline we're and From unique when looking feel little standpoint, which curve business, is continues margins still we've kind expand got like We pricing XX%,

a of to our this normal. of pre-pandemic it kind is single digits pipeline is up. traditional I back. lines move say first yet. say certainly went levels of believe part growth, think credit I back when they is accustomed shock think And would back seen to line the utilization, improving improving yet to moved but I'd traditional And We're now of I are they commercial a utilization that maybe were people But interest modestly, getting normal. the not rates bit. just commercial loan them low kind toward of on credit that We've demand way halfway

adjusted. think have So our of I kind businesses

is labor feeling where we deal the businesses not from hour. those $XX to But As can't that's one going our that $XX pain the really costs of some are with an dollars bulk still said, at. sector micro

Operator

question with Tamayo Our Daniel from comes next Raymond James.

Daniel Tamayo

quick the Maybe side. question a deposit on

wanting get about talked ratio to range. XX% the into to the you think loan-to-deposit down XX% I

You're basically of end top there at that the range.

you as going good you that range kind or Just the you're growth similar to feels if looking closer into to loan where to curious the guys bring down forward bring growth to of if deposit still want midpoint? back that

Todd Gipple

Yes, Danny, for thanks asking.

We full and pleased that deposit this had year. here this are very with growth certainly the we in quarter

We to focus then are committed take fund to a all huge of drive that's loan-to-deposit continuing to asset have do level and across that's growth we focus. that footprint, know going We with the core continue down. We do entire that some. know a to ratio to We going to take deposits but want while.

visited about Larry meeting, a that us and days was to ago, deposits. He our talk it way X just in with what deposits. a meeting deposits. to folks in both I Springfield talk the the operating just here doesn't or you we subject he are And about I would was with tell or I Larry of and credit way in way market a found about to team yesterday. a I matter we a much found big talk will of if is, find a

put we're gas going our deposit we're growth, very not to foot regard. in So on that the core off and focused

net really on want are deposit all strategies banks to focused in many on our to want continue growth. to continue new we and liquid. X core run accounts So that. of more And focus We to

Daniel Tamayo

of Okay. for the discussion the are $XX below might having billion a can And Great. related impact you second for you if you Durbin But to just earlier. you the And $XX we kind capital guys period. stay would what remind billion? then securitizations cross on certainly, were you you? have a allowing mentioned just us question curious longer to thought But when actually be guys

Larry Helling

We're securitization buy help little that Yes. that's ready for get us to a we pleased have bit time more to going it.

probably it. much to $XX going be now, We that. the over probably from we're years over probably it can't billion, manage Going X after

as big we because us, nearly Durbin heavily for For are the some. not as impact us commercial, is

As $XX getting this we've expense talked billion, to our in million over of $X run then a and probably million million. ready $X rate probably already get historically, another, have run $X year we'll to and million rate in for this our or another about expense $XX build billion; be we after $X year ready

so us, I million, the think year years million and And pulling our X that the in $X is on as that our structures we what $X rate, a don't basically from place And our can through to you for plans we all manage levers run notice. go so total expense impact we've focused we maybe And so got through other billion, $XX now. power are is way that. revenues

high a bank Our different than situation a is could much that retail have huge impact. Durbin

some of though. going costs. than more gradual, the side, The in. a regulators increased to expectation, on way be increase we part got that off We It's the which so And expense we're already will today. feel fall pretty we good will at have about cliff where built

we a So can notice. way we feel do good about where we're Hopefully, you don't even it at. in

Daniel Tamayo

Okay.

you're is saying? So is what basically the impact revenue negligible,

Larry Helling

a that save we've other couple couple so got on place over already million try that. of years, that, year, and a in but plans to be might dollars we the It next can of overpower places

Operator

any concludes conference back Helling remarks. closing would I question-and-answer Larry like to This turn our for session. to over the

Larry Helling

soon. with to for of and again connecting to look you today. of interest day, joining in all we a call your you appreciate Thanks forward great our Have company. each We our

Operator

today's concluded. for The conference attending you Thank has now presentation.

may You disconnect. now

QCR (QCRH) 24 Oct 242024 Q3 Earnings call transcript