Exhibit 99.1

                                  Press Release

                                                                        Contact:
                                                                  Todd A. Gipple
                                                        Executive Vice President
FOR IMMEDIATE RELEASE                                    Chief Financial Officer
February 19, 2004                                                 (309) 743-7745




              QCR HOLDINGS, INC. COMPLETES ISSUANCE OF $20,000,000
                          OF TRUST PREFERRED SECURITIES

QCR Holdings,  Inc. (Nasdaq Smallcap/QCRH)  announced today the issuance of $8.0
million of Floating  Rate  Capital  Securities  and $12.0  million of Fixed Rate
Capital Securities (together,  the "Trust Preferred Securities") of QCR Holdings
Statutory  Trust II and QCR Holdings  Statutory  Trust III (the  "Trusts").  The
securities  represent undivided  beneficial  interests in the Trusts, which were
established by QCR Holdings, Inc. for the purpose of issuing the Trust Preferred
Securities.  The Trust Preferred  Securities were sold in a private  transaction
exempt from  registration  under the  Securities  Act of 1933,  as amended  (the
"Act") and have not been  registered  under the Act. The  securities may only be
offered  or  sold in the  United  States  with  appropriate  registration  or an
applicable exemption from registration requirements.

The  securities  issued by the  Trusts  mature in 30 years.  The  Floating  Rate
Capital  Securities  are  callable  at par after  five  years and the Fixed Rate
Capital  Securities  are  callable at par after seven years.  The Floating  Rate
Capital  Securities have a variable rate based on the three-month  LIBOR,  reset
quarterly,  with the  initial  rate set at  3.97%,  and the Fixed  Rate  Capital
Securities have a fixed rate of 6.93%,  payable  quarterly,  for seven years, at
which  time they have a  variable  rate based on the  three-month  LIBOR,  reset
quarterly.  The Trusts used the  proceeds  from the sale of the Trust  Preferred
Securities to purchase Junior Subordinated  Debentures of QCR Holdings, Inc. The
Company  intends  to use  its  net  proceeds  for  general  corporate  purposes,
including  the  possible  redemption  in June 2004 of the $12.0  million of 9.2%
cumulative trust preferred securities issued by QCR Capital Trust I in 1999.

Special Note Concerning Forward-Looking Statements

         This press release contains,  and future oral and written statements of
QCR  Holdings,   Inc.  (the   "Company")   and  its   management   may  contain,
forward-looking   statements  within  the  meaning  of  the  Private  Securities
Litigation Reform Act of 1995 with respect to the financial  condition,  results
of  operations,  plans,  objectives,  future  performance  and  business  of the
Company.   Forward-looking   statements,   which  may  be  based  upon  beliefs,
expectations  and  assumptions  of the Company's  management  and on information
currently  available to  management,  are generally  identifiable  by the use of
words such as "believe," "expect,"  "anticipate,"  "plan," "intend," "estimate,"
"may,"  "will,"  "would,"  "could,"  "should"  or  other  similar   expressions.
Additionally,  all statements in this press release,  including  forward-looking
statements,  speak only as of the date they are made, and the Company undertakes
no  obligation  to update any  statement in light of new  information  or future
events.

         A number  of  factors,  many of which are  beyond  the  ability  of the
Company to control or predict,  could cause actual results to differ  materially
from those in its  forward-looking  statements.  These  factors  include,  among
others, the following:  (i) the strength of the local and national economy; (ii)
the economic  impact of past and any future  terrorist  attacks,  acts of war or
threats  thereof and the  response of the United  States to any such threats and
attacks;  (iii) changes in state and federal laws,  regulations and governmental
policies  concerning the Company's  general  business;  (iv) changes in interest
rates and prepayment rates of the Company's assets; (v) increased competition in
the financial  services sector and the inability to attract new customers;  (vi)
changes  in  technology  and the  ability  to develop  and  maintain  secure and
reliable  electronic  systems;  (vii) the loss of key  executives  or employees;
(viii) changes in consumer  spending;  (ix) unexpected  results of acquisitions;
(x) unexpected outcomes of existing or new litigation involving the Company; and
(xi) changes in accounting policies and practices. These risks and uncertainties
should be considered in evaluating forward-looking statements and undue reliance
should not be placed on such statements.  Additional  information concerning the
Company and its business,  including  additional  factors that could  materially
affect the Company's  financial  results,  is included in the Company's  filings
with the Securities and Exchange Commission.


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