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QCR Holdings to expand Missouri banking footprint with Guaranty acquisition


QCR Holdings Inc. and Guaranty Federal Bancshares Inc. jointly announced a definitive agreement this week in which QCR Holdings, a Moline, Ill.-based multi-bank holding company, will acquire Guaranty, which is based in Springfield, Mo. With the acquisition, QCR will merge Guaranty Bank, the banking subsidiary of Guaranty, into Springfield First Community Bank, which is QCR Holdings’ Springfield, Mo.-based bank charter. The combined bank will operate under the Guaranty Bank name in the Springfield and southwest Missouri markets. Established in 1913, Guaranty Bank currently has 16 banking locations in Springfield, Joplin, Carthage, Ozark, Nixa and Neosho, Mo., which will expand and complement QCR Holdings’ presence in and commitment to the region. Guaranty reported approximately $1.2 billion in assets and $1 billion in deposits as of Sept. 30. The combined bank would have approximately $2 billion in total assets, $1.5 billion in total loans and $1.6 billion in total deposits as of Sept. 30. Based upon the $59.99 closing price of QCR Holdings common stock as of Nov. 5, the transaction is valued at approximately $151.6 million. The transaction is subject to regulatory approvals, approval by Guaranty’s stockholders and certain customary closing conditions, and is expected to close in the first or second quarter of 2022. QCR Holdings has 24 locations in Iowa, Missouri, Wisconsin and Illinois, including Community State Bank in Ankeny, which QCR acquired in 2016.

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