Update: The deal announced in June 2017 has been completed. Click on the article below to read more about this transaction.
- Globe Newswire (October 2, 2017)
6/8/2017 - Globe Newswire
QCR Holdings, Inc. Announces Plans to Acquire Guaranty Bank and Trust Company
The Barack Ferrazzano Financial Institutions Group served as legal counsel for QCR Holdings, Inc. ("QCR")(NASDAQ: QCRH) in the signing of a definitive agreement to acquire Guaranty Bank and Trust Company ("Guaranty Bank") from Guaranty Bankshares, Ltd. Guaranty Bank, headquartered in Cedar Rapids, Iowa, was established in 1934. With its acquisition and subsequent merger into Cedar Rapids Bank & Trust Company ("CRBT"), the deposit base of CRBT, a wholly-owned subsidiary of QCR, will help to create a dominant banking franchise in the Cedar Rapids area.
The projected deal value at closing is approximately $44.2 million. The transaction, subject to regulatory approval by bank regulators, approval by Guaranty shareholders, and certain closing conditions is expected to close late in the third quarter or early fourth quarter of 2017.
Barack Ferrazzano's team was led by John E. Freechack, along with Robert M. Fleetwood and Abdul R. Mitha. Executive compensation and benefits were handled by Andrew K. Strimaitis.
Click here to read more about this transaction.
QCR Holdings, Inc.
QCR Holdings, Inc., headquartered in Moline, Illinois, is a relationship-driven, multi-bank holding company, which serves the Quad City, Cedar Rapids, Cedar Valley, Des Moines/Ankeny, 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—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 2017 report.