QCR Holdings, Inc. (NASDAQ: QCRH) shares moved into the green Friday on the announcement that the company completed the acquisition of Guaranty Federal Bancshares, Inc.. 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. 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 welcome Guaranty Bank to the QCR Holdings team as we expand our presence in the vibrant southwest Missouri markets where strong relationships with our clients matter,” said CEO Larry Helling. “This combination brings together two organizations that share core values and business strategies, and we look forward to further building upon our market share 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 McNew. “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.
QCRH shares added 93 cents, or 1.6%, to $57.52