SFC Bank’s assets, deposits grow

Springfield First Community Bank’s assets and deposits are on the rise, according to parent company QCR Holdings Inc.’s (Nasdaq: QCRH) latest quarterly earnings report.

SFC Bank held assets of $671.6 million and deposits of $471.3 million as of June 30. That’s up from $638.5 million in assets and $445.1 million in deposits three months earlier. The latest figures also are up from the roughly $560 million in assets and $445 million in deposits held by SFC Bank when it was purchased by QCR last year in a deal valued at $90.7 million.

The Springfield company is one of six subsidiaries held by QCR, which reported a second-quarter earnings increase of roughly 30% to $13.5 million, according to a news release.

SFC Bank’s earnings were not included in QCR’s report. The most recent data on file with the Federal Deposit Insurance Corp. show SFC Bank’s first-quarter earnings were down 26% to $1.7 million compared with $2.2 million a year earlier.

As of June 30, QCR’s assets were $5.2 billion and deposits were $4.3 billion. Through its holdings, QCR has 27 locations in Missouri and three other states, according to the release.

QCRH shares were trading at $37.06 as of 8:50 a.m., compared with a 52-week range of $30.15 to $45.15.