Update: The deal announced in April 2018 has been completed. Click on the article below to read more about this transaction.
- Globe Newswire (July 2, 2018)
April 19, 2018 - Globe Newswire
QCR Holdings, Inc. Announces Plan to Acquire Springfield Bancshares, Inc.
The Barack Ferrazzano Financial Institutions Group acted as legal counsel to QCR Holdings, Inc. (“QCR Holdings”) (Nasdaq: QCRH) in connection with its announced acquisition of Springfield Bancshares, Inc. (“Springfield Bancshares”).
Springfield Bancshares is the holding company of Springfield Community Bank (“SFC Bank”), which was established as a de novo bank in 2008. Headquartered in Springfield, MO, SFC Bank has one banking location and more than $560 million in assets and $445 million in deposits as of March 31, 2018.
Under the terms of the agreement, QCR Holdings will acquire 100% of the outstanding common stock of Springfield Bancshares, while SFC Bank will retain its separate charter and brand under QCR Holdings’ operation. This agreement is consistent with QCR Holdings’ stated strategic plan to selectively acquire other high-performing financial institutions in vibrant mid-sized metropolitan markets with a concentration of commercial clients.
Barack Ferrazzano’s team was led by Abdul R. Mitha who was assisted by Robert M. Fleetwood, Katherine Fritzi Getz and John E. Freechack . Executive compensation was handled by Andrew K. Strimaitis.
To read more about the transaction, click here.
QCR Holdings, Inc.
QCR Holdings, Inc., headquartered in Moline, Illinois, is a $4.6 billion relationship-driven, multi-bank holding company, which serves the Quad Cities, Cedar Rapids, Cedar Valley, Des Moines/Ankeny, Springfield, and Rockford communities through its wholly owned subsidiary banks.
Barack Ferrazzano Financial Institutions Group
Our 30-attorney Group has represented more than 250 financial institutions across the country. Our M&A experience is unparalleled—in 2017 we were the #1 legal advisor in the U.S. by announced bank and thrift M&A transactions and over the past decade, our Group ranked #1 in the Midwest region by number of announced bank and thrift merger and acquisition transactions, according to S&P Global Market Intelligence. The Financial Institutions Group was again named as one of the top financial institution groups in the nation in the U.S. News & Best Lawyers 2018 report.