Update: The deal announced in November 2021 has been completed. Click on the article below to read more about this transaction.
- Global News Wire (April 1, 2022)
November 11, 2021 - QCR Holdings, Inc. Press Release
QCR Holdings, Inc. Announces Acquisition of Guaranty Federal Bancshares, Inc.
The BFKN Financial Institutions Group served as legal counsel to QCR Holdings, Inc. (NASDAQ: QCRH) in the acquisition of Guaranty Federal Bancshares, Inc. (NASDAQ: GFED) and its banking subsidiary, Guaranty Bank. In connection with the transaction, QCR Holdings will merge Guaranty Bank into Springfield First Community Bank, QCR Holdings’ Springfield, Missouri-based charter.
After closing, QCR Holdings intends to operate its branches under the Guaranty Bank name in southwest Missouri. As of September 30, 2021, the combined bank will have approximately $2.0 billion in total assets, $1.5 billion in total loans and $1.6 billion in total deposits.
“Springfield and neighboring southwest Missouri markets make up a vibrant region where strong relationships with our clients matter. Guaranty Bank strongly aligns with our culture and our dedication to client service,” said Larry Helling, QCR Holdings Chief Executive Officer.
BFKN’s legal team was led by Financial Institutions Group co-chair Robert M. Fleetwood and partners Abdul R. Mitha and Katherine Fritzi Getz. Executive compensation and benefits were handled by partner Donald L. Norman, Jr. and associate Alex Freund. Tax considerations of the transaction were handled by partners Michael J. Towne and Alice Lin and associate Megan E. Toal.
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