Qcr Holdings - QCRH STOCK NEWS

QCR Holdings, Inc. (NASDAQ: QCRH) held its annual stockholder meeting on May 23, 2022, where three Class II directors, Brent R. Cobb, Larry J. Helling, and Mark C. Kilmer, were re-elected for three-year terms. Additionally, the Board declared a cash dividend of $0.06 per share, set to be paid on July 6, 2022, to shareholders on record as of June 17, 2022. As of March 31, 2022, QCR Holdings reported approximately $6.2 billion in assets, $4.8 billion in loans, and $4.8 billion in deposits, solidifying its position in multiple banking communities.

QCR Holdings, Inc. (NASDAQ: QCRH) has announced a share repurchase program, enabling the repurchase of up to 1,500,000 shares, approximately 8.5% of its outstanding stock as of May 1, 2022. This initiative reflects the company's commitment to enhancing shareholder value. The repurchased shares can be acquired through various means, including open market transactions, as per SEC regulations. The timing and amount of repurchases will depend on market conditions and legal requirements. As of March 31, 2022, QCR Holdings reported $6.2 billion in assets and $4.8 billion in loans.

QCR Holdings, Inc. reported net income of $23.6 million for Q1 2022, translating to $1.49 per diluted share. This marks a decline from $27.0 million and $1.71 per share in Q4 2021. Adjusted net income was $24.4 million, slightly down from $27.4 million previously. The company achieved a net interest margin of 3.30% and 14.6% annualized loan growth, excluding PPP loans. Nonperforming assets hit a record low at 0.04% of total assets, and the company completed the acquisition of Guaranty Federal Bancshares, enhancing its market position.

QCR Holdings, Inc. (NASDAQ: QCRH) will release its first quarter financial results for the period ending March 31, 2022, on April 26, 2022, after market close. A conference call will follow on April 27, 2022, at 10:00 a.m. Central Time to discuss these results. Participants can join via telephone by calling 888-346-9286 (international 412-317-5253). The event will also be webcast, and archived for later access. QCR Holdings is a multi-bank holding company with approximately $7.3 billion in assets as of December 31, 2021, serving several communities across Iowa, Missouri, Wisconsin, and Illinois.

QCR Holdings, Inc. (NASDAQ: QCRH) has appointed John F. Griesemer to its Board of Directors. Griesemer brings significant experience from his role as President and CEO of Erlen Group and will enhance QCRH's strategic expansion in southwest Missouri. Larry Helling, CEO of QCR Holdings, expressed confidence in Griesemer's community involvement and leadership. With 40 locations and approximately $7.3 billion in assets, QCRH continues to strengthen its position in the banking sector.

On April 1, 2022, QCR Holdings (NASDAQ: QCRH) announced the successful acquisition of Guaranty Federal Bancshares. The merger of Guaranty's banking subsidiary, Guaranty Bank, will be effective April 2, 2022, merging into Springfield First Community Bank. The transaction is valued at approximately $144.1 million, based on QCRH's closing price of $56.59 as of March 31, 2022. Former Guaranty stockholders may receive cash, stock, or a mix for their shares. The combined bank will have 17 locations across southwest Missouri, enhancing QCR Holdings' presence in the region.

On March 23, 2022, QCR Holdings, Inc. (NASDAQ: QCRH) announced the receipt of all regulatory approvals needed to finalize its acquisition of Guaranty Federal Bancshares, Inc. The merger, anticipated to close on April 1, 2022, follows an Agreement initiated on November 9, 2021. CEO Larry Helling expressed confidence in the acquisition, highlighting its strategic significance for expanding QCR's presence in Southwest Missouri.

On March 21, 2022, QCR Holdings announced that stockholders of Guaranty Federal Bancshares approved the acquisition in a special meeting. The merger allows Guaranty shareholders to receive cash, shares of QCRH, or a mix of both, with total consideration comprising 80% stock and 20% cash. The election deadline for Guaranty shareholders to choose their preferred form of payment is March 25, 2022. QCR Holdings aims to enhance its market position in Southwest Missouri through this merger, as stated by CEO Larry Helling.