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Springfield First Community Bank’s assets exceed $760 million in the second quarter.
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Springfield First Community Bank’s assets exceed $760 million in the second quarter.

SFC Bank’s assets, deposits grow

Posted online

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.

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