qcr holdings inc (QCRH) Snapshot

QCR Holdings Inc. announced that on May 1, 2013, the board of directors of the company appointed Michael L. Peterson as a Class III director, pursuant to the company's obligations under the Agreement and Plan of Merger dated as of February 13, 2013, between the Company, QCR Acquisition, LLC and Community National Bancorporation. Mr. Peterson's appointment is subject to, and effective as of, the consummation of the transactions contemplated in the Merger Agreement, expected to occur on or about May 13, 2013, pending approval by CNB's stockholders and the fulfillment of other customary closing conditions. As with other Class III directors, Mr. Peterson's term will expire at the 2014 annual meeting of stockholders. Mr. Peterson's appointment will fill the vacant seat created by the retirement of Charles M. Peters from the Board effective May 1, 2013. Mr. Peterson is also expected to serve on the Company's Strategic Direction Committee. Michael L. Peterson is Chairman of CNB and Community National Bank, based in Waterloo, Iowa. Mr. Peterson is also owner and President of Peterson Genetics Inc.

QCR Holdings Inc. announced that on May 1, 2013 the Company's board of directors declared a cash dividend of $0.04 per share payable on July 8, 2013, to stockholders of record on June 21, 2013.

QCR Holdings Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2013. Net income attributable to common stockholders of the company of $2.5 million or $1.89 per basic share compared to $2.3 million or $1.18 per basic share reported in the same period last year. Net income before taxes was $4.4 million against $4.6 million reported last year. Interest income was $18.5 million against $19.4 million reported last year. Net interest income was $14.2 million against $14.2 million reported last year. Return on average assets (annualized) was 0.62% against 0.65%, return on average common equity (annualized) was 11.14% against 11.25% and return on average total equity (annualized) was 9.25% against 9.00% reported last year. Book value per common share was $18.04 against $16.62 and tangible book value per common share was $17.38 against $15.94 reported last year. For the quarter, the company also reported net charge-offs (calendar year-to-date) of $214,000 against $563,000 reported in the same period last year.