Guaranty Bank parent posts roughly flat quarterly profits

The publicly traded parent company of Springfield-based Guaranty Bank had roughly flat profits during the first quarter.

Moline, Illinois-based QCR Holdings Inc. (Nasdaq: QCRH) reported profits of $26.7 million, or $1.58 per diluted share, compared with $27.2 million, or $1.60 per diluted share, a year earlier, according to a news release.

“We delivered strong first-quarter results, highlighted by significant fee income and continued growth in both our core deposit and loan balances,” said Larry J. Helling, CEO of QCR Holdings, in the release. “In addition, we continued to benefit from well-managed expenses, improved upon our already excellent asset quality and further strengthened our capital levels.”

Guaranty Bank's assets rose by 8.4% to $2.3 billion in the first quarter compared with the same period a year earlier. Deposits at Guaranty Bank moved up 5.9% to $1.7 billion.

QCRH shares were trading at $57.14 as of 8:35 a.m., compared with a 52-week range of $35.14 to $62.94 per share.