Guaranty Bank parent improves quarterly earnings

The publicly traded parent company of Springfield-based Guaranty Bank reported higher net income during the second quarter.

Moline, Illinois-based QCR Holdings Inc. (Nasdaq: QCRH) posted profits of $29.1 million, up from $28.4 million in the same quarter of 2023, according to a news release. Diluted share earnings rose to $1.72 from $1.69 per share.

“We delivered outstanding second-quarter results, highlighted by expanded net interest margin and growth in net interest income. We also had another quarter of strong capital markets revenue and well-controlled expenses,” said Larry J. Helling, CEO of QCR Holdings, in the release. “In addition, we maintained our excellent asset quality and further strengthened our capital levels.”

Guaranty Bank's assets increased to $2.4 billion from $2.2 billion a year earlier, and deposits rose to $1.8 billion from $1.7 billion.

QCRH shares were trading at $74.95 as of 10:48 a.m., compared with a 52-week range of $45.84 to $76.97 per share.