secwatch.observer — SEC 8-K summary
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Issuer:     QCR HOLDINGS INC (QCRH)
CIK:        0000906465
Form:       8-K
Filed at:   2024-09-05T23:59:59+00:00
Accession:  0001104659-24-097366
Event type: other_material
Sentiment:  neutral
Materiality: 0.65
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

QCR Holdings discontinues new loans/leases via m2 Equipment Finance; $2.1M restructuring charge
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- m2's $360M portfolio will be serviced by reduced staff; majority expected to amortize over 3 years.
- One-time restructuring expense of ~$2.1M and goodwill write-down of ~$0.4M in Q3 2024.
- CEO expects move to improve profitability, liquidity, and reduce credit losses; charge to be earned back in 2 quarters.
- Company to focus on business units with greater deposit-gathering potential and higher risk-adjusted returns.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/906465/000110465924097366/0001104659-24-097366-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/906465/000110465924097366/tm2423194d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-097366

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