Springfield, MO, April 1, 2022 – SFC Bank's parent company, QCR Holdings, Inc. (NASDAQ: QCRH) ("QCR Holdings") today announced the successful completion of the acquisition of Guaranty Federal Bancshares, Inc. ("Guaranty"). Guaranty's banking subsidiary, Guaranty Bank, will be merged into QCR Holdings' Springfield-based charter, Springfield First Community (SFC) Bank, with the bank merger to be effective April 2, 2022. The new combined bank will retain the Guaranty Bank name and operate under the leadership of CEO Monte McNew and President Shaun Burke.
"We are very pleased to expand our presence in the vibrant southwest Missouri markets where strong relationships with our clients matter," said Monte McNew, Guaranty Bank Chief Executive Officer. "Our organizations share core values and business strategies, and we look forward to serving our clients in the region."
"We are excited to begin a new chapter in southwest Missouri and look forward to serving our clients and our communities as one bank and one team," said Burke, Guaranty Bank president. "There's tremendous opportunity for us to grow our business with both new and existing clients in these markets while providing the exceptional service they have come to expect."
Following the bank merger, the Guaranty Bank franchise will have 17 banking locations in Springfield, Joplin, Carthage, Ozark, Marshfield, Nixa and Neosho, Missouri.
About QCR Holdings, Inc.
QCR Holdings, Inc., headquartered in Moline, Illinois, is a relationship-driven, multi-bank holding company serving the Quad Cities, Cedar Rapids, Cedar Valley, Des Moines/Ankeny and southwest Missouri communities through its wholly-owned subsidiary banks. The banks provide full-service commercial and consumer banking and trust and wealth management services. Including the recent Guaranty Bank acquisition, the Company has 40 locations in Iowa, Missouri, Wisconsin and Illinois. As of December 31, 2021, the combined Company had approximately $7.3 billion in assets, $5.4 billion in loans and $5.9 billion in deposits. For additional information, please visit the Company's website at www.qcrh.com.
About Guaranty Bank
Upon completion of the merger, Guaranty Bank will have 17 locations in Greene, Christian, Jasper, Newton and Webster counties.
Guaranty Bank strives to have a positive impact through volunteerism, philanthropy, and a responsible approach to financial services. Guaranty is dedicated to meeting the financial needs of the surrounding community and exceeding the expectations of clients. For more information visit the Guaranty Bank website www.gbankmo.com.
|Andrea Gill||Marketing Coordinator||(417) email@example.com|
|Monte McNew||CEO, Guaranty Bank||(417) firstname.lastname@example.org|
|Shaun Burke||President, Guaranty Bank||(417) email@example.com|