QCR Holdings

QCR Holdings, Inc., through its subsidiaries, provides commercial and consumer banking, and trust and asset management services for the Quad City and Cedar Rapids communities. QCR Holdings, Inc. was founded in 1993 and is headquartered in Moline, Illinois.[2]

QCR Holdings
TypePublic
NASDAQ: QCRH
Russell 2000 Component
IndustryFinance
HeadquartersMoline, Illinois, U.S.
Key people
Patrick S. Baird, Chairman
Larry J. Helling, CEO
ProductsBanks
RevenueUS$99.08 million (2008)[1]
US$23.63 million (2008)[1]
US$6.71 million (2008)[1]
Number of employees
343

About

QCR Holdings, Inc. is a multi-bank holding company headquartered in Moline, Illinois that serves the Quad Cities and Cedar Rapids communities through its wholly owned subsidiary banks. Each bank provides full-service commercial and consumer banking, trust, and asset management services. The company also engages in commercial leasing through its 80% owned subsidiary, M2 Lease Funds, LLC, based in Milwaukee, Wisconsin.:[3]

QCR Holdings' deposit products include non-interest and interest-bearing demand deposits, time deposits, negotiable order of withdrawal accounts, regular checking accounts, savings deposits, and brokered certificates of deposits. The company offers commercial and retail lending and investment services to corporations, partnerships, individuals, and government agencies. Its loan portfolio comprises commercial loans, including loans to wholesalers, manufacturers, building contractors, business services companies, other banks, and retailers; commercial loans, including commercial real estate loans; and business loans, such as lines of credit for working capital and operational purposes. The company's loan portfolio also includes term loans for the acquisition of facilities, equipment, and other purposes; and consumer loans, including motor vehicle, home improvement, home equity, signature loans, and small personal credit lines. In addition, it offers direct financing lease contracts services.[2]

Subsidiary Banks

The subsidiary banks of QCR Holdings include:[3]

  • Quad City Bank and Trust - Based in Bettendorf, Iowa - Commenced operations in 1994
  • Cedar Rapids Bank and Trust - Based in Cedar Rapids, Iowa - Commenced operations in 2001

QCR Holdings signed an agreement to sell its Milwaukee subsidiary, First Wisconsin Bank & Trust, to National Bancshares, Inc. near the end of 2008. First Wisconsin commenced operations in 2006.[4]

QCR Holdings announced an agreement to sell its Rockford subsidiary, Rockford Bank and Trust, to Heartland Financial USA, Inc. subsidiary Illinois Bank & Trust on August 13, 2019.[5] The sale closed on November 30, 2019[6] and the bank's systems conversion occurred on February 7, 2020.[7]

References
  1. Yahoo Finance Income Statement, Accessed January 26, 2010
  2. https://finance.yahoo.com/q/pr?s=QCRH Yahoo Finance Company Profile, Accessed January 26, 2010
  3. http://www.snl.com/irweblinkx/corporateprofile.aspx?iid=1024092 SNL Financial Corporate Profile, Accessed January 26, 2010
  4. http://community.investopedia.com/news/GlobeNewswire/935373152063.aspx%5B%5D QCR Holdings, Inc. Announces Sale of First Wisconsin Bank & Trust, GlobeNewswire, October 13, 2008
  5. "Press Release - QCR Holdings, Inc". www.snl.com. Retrieved 2020-02-13.
  6. "Press Release - QCR Holdings, Inc". www.snl.com. Retrieved 2020-02-13.
  7. "Merger | Illinois Bank & Trust". www.illinoisbank.com. Retrieved 2020-02-13.
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