YOUR BUSINESS AUTHORITY
Springfield, MO
Moline, Illinois-based QCR Holdings Inc. (Nasdaq: QCRH), the new owner of Springfield First Community Bank, reported a 19 percent uptick in second-quarter net income.
The company’s earnings came to $10.4 million, or 73 cents per diluted share, compared with $8.8 million, or 64 cents per share, a year earlier, according to a news release.
QCR recorded $500,000 in post-acquisition costs during the quarter ahead of closing on its $90.7 million acquisition of SFC Bank on July 1.
“We are excited they have joined us, as this merger fits well with our strategic growth plans by combining two high-performing financial institutions who share similar values and approaches to client service and community involvement,” QCR President and CEO Douglas Hultquist said in the release. “The merger also positions us to continue growing our franchise and creating value for our shareholders."
Second-quarter financial notes:
• Interest income rose 26 percent to $40.8 million.
• Salaries and employee benefits climbed 22 percent to $15.8 million.
• The company took on SFC Bank’s $573 million in assets, $487 million in loans and $439 million in deposits.
As of July 1, QCR had assets of $4.7 billion, deposits of $3.7 billion and loans of $3.6 billion, according to the release.
QCRH shares were trading at $45.15 as of 8:53 a.m., compared with a 52-week range of $39.85 to $49.70.
The Republic School District is on track to open its Intermediate School for fifth- and sixth-grade students for the 2025-26 academic year.
Legacy Bank president exits amid investigation into 'employee-related allegations'
Chick N Max plans Springfield debut
Executive director hired at The Victim Center
Biblical history attraction planned at former Andy Williams theater
Developer seeks approval of C-Street project, including Missouri Hotel renovation
Photo Gallery: New Fire in the Hole debuts at Silver Dollar City