YOUR BUSINESS AUTHORITY
Springfield, MO
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.
Connected to Watkins Elementary School is a new storm shelter now under construction.
Updated: Systematic Savings Bank to be acquired in $14M deal
Former CoxHealth colleagues starting communications firm
Warby Parker store planned in Springfield
Former Wentzville superintendent to get $1M in contract buyout
STL construction firm buys KC company
NPR editor resigns after writing piece critical of organization
Survey finds increase in average salary Americans willing to take