Parent company of Guaranty Bank increases quarterly profits by 10.8%

Moline, Illinois-based QCR Holdings Inc. (Nasdaq: QCRH), the parent company of Guaranty Bank in Springfield, reported improved profits in the third quarter.

QCR Holdings' earnings grew by 10.8% to $27.8 million from $25.1 million a year earlier, according to a news release. Diluted share earnings rose to $1.64 from $1.49 per share.

“We produced exceptional third-quarter results, highlighted by our significant growth in net interest income and margin expansion. We also had another quarter of strong capital markets and wealth management revenue,” QCR Holdings CEO Larry J. Helling said in the release. “In addition, we grew core deposits, maintained our excellent asset quality and significantly increased our tangible book value per share."

Guaranty Bank's assets and deposits were roughly flat at $2.4 billion and $1.8 billion, respectively, as of Sept. 30.

QCRH shares were trading at $77.66 as of 11:15 a.m., compared with a 52-week range of $45.84 to $82 per share.