QCR Holdings, Inc. has purchased land for a new corporate headquarters in Bettendorf, at the southeast corner of the intersection of Forest Grove Drive and Middle Road, near TBK Bank Sports Complex, the company announced Wednesday/
The location will also house a new consumer banking branch of Quad City Bank & Trust (QCBT). This will be the 6th branch for Quad City Bank & Trust, which has the largest deposit market share in the Quad Cities area, the company said. Construction is anticipated to begin in late 2024.
QCBT will continue to operate its current branch in Moline (3551 7th St.) and the bank is committed to maintaining continued operations in the Illinois QC, the release said.
The current QCR Holdings headquarters is at The Velie Building, 3551 7th Street, Moline, and once the new QCR Holdings headquarters is built, the QC-based employees of QCR will move to the new facility, according to the company.
Quad City Bank & Trust is one of four wholly-owned subsidiary banks within QCR Holdings, Inc. These banks provide full-service commercial and consumer banking, as well as trust and wealth management services. QCBT itself has $2.4 billion in assets and 158 employees.
Employees in the holding company provide support services for all the banks, providing consistent, efficient, and shared solutions. In contrast, each bank manages products, clients, and community involvement at the local level. This unique business structure allows the company to provide relationship-based community banking within the communities each bank serves, the release said.
In January, QCR reported record quarterly net income of $32.9 million for the fourth quarter of 2023, compared to net income of $25.1 million for the third quarter of 2023, and reported net income of $113.6 million for the full year.
As of Dec. 31, 2023, the company had $8.5 billion in assets, $6.5 billion in loans and $6.5 billion in deposits.
QCR Holdings, Inc., is a multi-bank holding company serving the Quad Cities, Cedar Rapids, Cedar Valley, and Des Moines/Ankeny, Iowa, and the Springfield and Joplin, Missouri communities through its wholly-owned subsidiary banks.
Quad City Bank & Trust Company, based in Bettendorf, began operations in 1994; Cedar Rapids Bank & Trust Company, based in Cedar Rapids, began operations in 2001; Community State Bank, based in Ankeny, Iowa, was acquired by the company in 2016; Springfield First Community Bank, based in Springfield, Mo., was acquired by the company in 2018; and Guaranty Bank, also based in Springfield, Mo., was acquired by the company and merged with Springfield First Community Bank on April 1, 2022, with the combined entity operating under the Guaranty Bank name.
Additionally, the company serves the Waterloo/Cedar Falls area through Community Bank & Trust, a division of Cedar Rapids Bank & Trust Company.
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