Guaranty Federal Bancshares Announces Acquisition by QCR Holdings
Nov 9, 2021 By MarketDepth
Guaranty Federal Bancshares, Inc. (NASDAQ: GFED) and QCR Holdings, Inc. (NASDAQ: QCRH) have reported signature on a definitive agreement where QCR Holdings will acquire Guaranty and merge Guaranty Bank, banking subsidiary of guaranty into Springfield First Community Bank, QCR Holdings’ Springfield-based charter. “Springfield and neighboring southwest Missouri markets make up a vibrant region where strong relationships with our clients matter. Guaranty Bank strongly aligns with our culture and our dedication to client service,” said Larry Helling, QCR Holdings Chief Executive Officer. “Enhancing our market share in this region supports our strategic goals and enables us to extend our high-performing and profitable niche business lines benefiting clients and shareholders alike.”
2 Billion in Assets
The combined bank, as of September 30th, 2021 will have approximately USD 2 Billion in total assets, USD 1.5 Billion in total loans and USD 1.6 Billion in total deposits. “Our M&A strategy has always been about finding the right partners in the right markets that share our core values and business strategy,” said Todd A. Gipple, President, Chief Operating Officer and Chief Financial Officer of QCR Holdings. “The blending of talent and expertise from both SFC Bank and Guaranty Bank, and the increased product and service capabilities of the combined bank, will result in continued strong growth in Springfield and surrounding communities. We are very excited about the opportunities this merger provides.”
Front Runner Bank
“We are delighted to be joining forces with Guaranty Bank to serve our clients and our communities,” McNew said. “This partnership positions us to become the preeminent bank in this market. We look forward to demonstrating the value of this merger to all of our stakeholders by showing how we’re better together.”
In Business for Over a Century
“Guaranty Bank has been proud to serve our communities for more than a century,” Burke said. “Joining the QCR Holdings family and the team at SFC Bank is an exciting opportunity for us to expand our product and service offerings while continuing our track record of delivering exceptional client service.”
