Exhibit 12.1 — Computation of Ratios

QCR Holdings, Inc.
Calculation of earnings to fixed charges

	Dec-06		Dec-05		Dec-04		Dec-03		Dec-02		Jun-02
Earnings before income taxes		3,660		7,092		7,721		8,156		4,879		4,277
Add: preferred dividends on a pretax basis		164		—		—		—		—		—
Add: fixed charges		39,293		21,888		13,832		12,414		6,713		13,389
Earnings including interest expense on deposits (1)		43,117		28,980		21,553		20,570		11,592		17,666
Less: interest expense on deposits		27,065		12,842		6,852		7,005		4,151		8,895
Earnings excluding interest expense on deposits (2)		16,052		16,138		14,701		13,565		7,441		8,772
Fixed charges:
Interest expense on deposits		27,065		12,842		6,852		7,005		4,151		8,895
Interest expense on borrowings		11,842		8,439		6,473		4,945		2,332		3,976
Portion of rents representative of interest factor		386		607		507		464		230		519
Fixed charges including interest expense on deposits (3)		39,293		21,888		13,832		12,414		6,713		13,389
Less interest expense on deposits		27,065		12,842		6,852		7,005		4,151		8,895
Fixed charges excluding interest expense on deposits (4)		12,228		9,046		6,980		5,409		2,562		4,494
Rents		660		1,038		867		837		431		796
Portion of rents representative of interest factor		386		607		507		464		230		519
Ratio of earnings to fixed charges and preferred stock dividends:
Excluding interest expense on deposits ( (2)/(4) )		1.31		1.78		2.11		2.51		2.90		1.95
Including interest expense on deposits ( (1)/(3) )		1.10		1.32		1.56		1.66		1.73		1.32