Proxy filing: McNew among top-paid execs at Guaranty’s new parent

Monte McNew, who became CEO of Guaranty Bank after a recently closed acquisition deal, is now one of the top-paid executives at parent company QCR Holdings Inc. (Nasdaq: QCRH).

McNew's total compensation in 2021 was $492,390, according to a proxy filing from QCR with the U.S. Securities and Exchange Commission. He previously was not a named officer at QCR, meaning his prior annual compensation is not disclosed in the filing.

During 2021, McNew's salary was $242,400, with nonequity incentive plan compensation coming in at $110,168, stock awards at $100,041 and all other compensation at $39,781, according to the SEC filing.

McNew is the only person in Springfield among QCR’s five named officers.

Moline, Illinois-based QCR's top-paid officer in 2021 was CEO Larry Helling, who had total compensation of $1.9 million, according to the filing. That was down slightly from $2 million in 2020.

QCR on April 1 finalized its $152 million acquisition of Guaranty Bank. The deal triggered the merger of Guaranty Bank's operations with that of Springfield First Community Bank, which QCR bought in 2018 for $90.7 million. Former SFC Bank President and CEO McNew became CEO of the combined bank, with Guaranty President and CEO Shaun Burke appointed president, according to past reporting.