Keefe, Bruyette & Woods, Inc. served as financial advisor to QCR Holdings and Barack Ferrazzano Kirschbaum & Nagelberg LLP served as legal counsel. D.A. Davidson & Co. served as financial advisor to Springfield Bancshares and Stinson Leonard Street LLP served as legal counsel.
QCR Holdings, Inc. (NASDAQ:QCRH) and Springfield Bancshares, Inc. jointly announced today the signing of a definitive agreement whereby QCR Holdings will purchase 100% of the outstanding common stock of Springfield Bancshares, Inc., the holding company of Springfield First Community Bank. Established as a de novo bank in 2008, SFC Bank is headquartered in Springfield, Missouri. QCR Holdings will continue to operate SFC Bank retaining its separate charter and brand within the Springfield, Missouri market to promote continuity and to build upon SFC Bank’s legacy of high-touch service to its commercial and retail customers in that market.
The merger with Springfield Bancshares is consistent with QCR Holdings’ stated strategic plan to selectively acquire other high-performing financial institutions in vibrant mid-sized metropolitan markets with a concentration of commercial clients. SFC Bank has one banking location and more than $560 million in assets and $445 million in deposits as of March 31, 2018. Springfield Bancshares and QCR Holdings share similar values and approaches to client service and community involvement.
Barack Ferrazzano advised QCR Holdings, Inc. with a team including Abdul Mitha (Picture), Rob Fleetwood, Fritzi Getz, John Freechack and Andy Strimaitis.
Law Firms: Barack Ferrazzano;
Clients: QCR Holdings, Inc.;