QCR Holdings, Inc., through its subsidiaries, provides commercial and consumer banking, and trust and asset management services for the Quad City, Cedar Rapids, and Rockford communities. QCR Holdings, Inc. was founded in 1993 and is headquartered in Moline, Illinois.
QCR Holdings, Inc. is a multi-bank holding company headquartered in Moline, Illinois that serves the Quad Cities, Cedar Rapids and Rockford communities through its wholly owned subsidiary banks. Each bank provides full-service commercial and consumer banking, trust, and asset management services. The company also engages in commercial leasing through its 80% owned subsidiary, M2 Lease Funds, LLC, based in Milwaukee, Wisconsin.[3]:
QCR Holdings' deposit products include non-interest and interest-bearing demand deposits, time deposits, negotiable order of withdrawal accounts, regular checking accounts, savings deposits, and brokered certificates of deposits. The company offers commercial and retail lending and investment services to corporations, partnerships, individuals, and government agencies. Its loan portfolio comprises commercial loans, including loans to wholesalers, manufacturers, building contractors, business services companies, other banks, and retailers; commercial loans, including commercial real estate loans; and business loans, such as lines of credit for working capital and operational purposes. The company’s loan portfolio also includes term loans for the acquisition of facilities, equipment, and other purposes; and consumer loans, including motor vehicle, home improvement, home equity, signature loans, and small personal credit lines. In addition, it offers direct financing lease contracts services.
QCR is the holding company for Quad City Bank and Trust, formed in 1993; Cedar Rapids Bank and Trust, formed in 2001; Rockford Bank and Trust, formed in 2005; and First Wisconsin Bank and Trust, formed in February 2007. Together, they represent 10 offices throughout the Quad Cities (Rock Island, Ill.; Moline, Ill.; Davenport, Iowa; and Bettendorf, Iowa), Cedar Rapids, Iowa; Rockford, Illinois; and Milwaukee, Wisconsin.
Although reaching a state of profitability takes longer when starting from scratch, QCR has avoided many of the pitfalls associated with bank acquisitions. “Most banks have a high expectation of what their bank is worth upon sale, but not all key employees and clients can be retained, and you run the risk of inheriting unpleasant surprises,” he said. “Our model allows us to put systems and structures in place according to our own standards, and more importantly, we can hand-pick our staff, which gives us an incredible advantage.”
Going public right out of the box gave QCR another advantage. Hultquist explained that most start-up banks gather capital from their respective communities to get started and raise capital as needed thereafter. “We predicted the opportunity for growth would be significant and we should be careful not to start off undercapitalized,” he said. Being a public company enabled the QCR to reach $200 million without seeking additional capital. “Going public comes with a fairly significant cost—there are SEC and NASDAQ requirements to meet and so forth, but it has given us access to capital we needed to grow.”
Community focused
According to Hultquist, each QCR bank was created under a separate charter and given a community-centric name to illustrate the company’s commitment to relationship-based banking. In addition, each bank has its own board of directors. “A lot of consultants advise financial institutions on how to collapse charters, but that is not our model. Our game plan would not work if we didn’t present ourselves as a local bank focused on the community,” he said.
Nearly 85% of QCR’s loan portfolio is made up of commercial loans and leases, meaning the company has to target a wide array of businesses and industries. The company is selectively involved in real estate development, manufacturing, and the professional arena, including doctors, lawyers, and accountants. “We don’t want to be overly concentrated in one industry in case it takes a downturn,” said Hultquist.
But there is one exception. QCR serves a high concentration of hospitals and other healthcare-related organizations. “The healthcare industry is an increasingly larger percentage of our GDP, and it appears to be immune to volatile highs and lows.”
At present, QCR is not interested in pursuing geographic growth. Instead, it is looking to increase marketshare in its existing footprint. Hultquist noted that QCR will not open a branch unless it is expected to reach $100 million within five years. “Typically, when banks open a branch, they hope to hit $35 million because that is when they believe profitability starts. We set our mark a little higher,” he said.
As QCR looks to grow marketshare, it is limiting its reliance on bricks and mortar, as well as labor, with the use of technology, such as remote deposit capture. Strong online capabilities are also helping satisfy customer desire to do business at all hours of the day or night. But no matter how large of a role technology plays in QCR’s business, it will never replace face-to-face interactions. “Customers prefer to do some banking online, but they also enjoy working with people, so I don’t think the branch delivery system will ever go away,” Hultquist said
QCR Holdings, Inc. is a multi-bank holding company. The Company serves the Quad City, Cedar Rapids, Rockford and Milwaukee communities through its wholly owned banking subsidiaries, which provide commercial and consumer banking and trust and asset management services. Its subsidiaries include Quad City Bank and Trust Company (Quad City Bank & Trust), Cedar Rapids Bank and Trust Company (Cedar Rapids Bank & Trust) and Rockford Bank and Trust Company (Rockford Bank & Trust). In August 2008, it announced the sale of its Merchant Credit Card acquiring business to Veracity Payment Solutions
QCR Holdings, Inc., headquartered in Moline, Illinois, is a relationship-driven, multi-bank holding company, which serves the Quad City, Cedar Rapids, and Rockford communities through its wholly owned subsidiary banks. Quad City Bank and Trust Company, which is based in Bettendorf, Iowa, and commenced operations in 1994, Cedar Rapids Bank and Trust Company, which is based in Cedar Rapids, Iowa, and commenced operations in 2001, and Rockford Bank and Trust Company, which is based in Rockford, Illinois, and commenced operations in 2005, provide full-service commercial and consumer banking and trust and asset management services. Quad City Bank and Trust Company also engages in commercial leasing through its 80% owned subsidiary, m2 Lease Funds, LLC, based in Milwaukee, Wisconsin.
Special Note Concerning Forward-Looking Statements. This document contains, and future oral and written statements of the Company and its management may contain, forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 with respect to the financial condition, results of operations, plans, objectives, future performance and business of the Company. Forward-looking statements, which may be based upon beliefs, expectations and assumptions of the Company's management and on information currently available to management, are generally identifiable by the use of words such as "believe," "expect," "anticipate," "predict," "suggest," "appear," "plan," "intend," "estimate," "annualize," "may," "will," "would," "could," "should" or other similar expressions. Additionally, all statements in this document, including forward-looking statements, speak only as of the date they are made, and the Company undertakes no obligation to update any statement in light of new information or future events.
A number of factors, many of which are beyond the ability of the Company to control or predict, could cause actual results to differ materially from those in its forward-looking statements. These factors include, among others, the following: (i) the strength of the local and national economy; (ii) the economic impact of any future terrorist threats and attacks, and the response of the United States to any such threats and attacks; (iii) changes in state and federal laws, regulations and governmental policies concerning the Company's general business, including the recently enacted Dodd-Frank Wall Street Reform and Consumer Protection Act and the regulations to be issued thereunder; (iv) changes in interest rates and prepayment rates of the Company's assets; (v) increased competition in the financial services sector and the inability to attract new customers; (vi) changes in technology and the ability to develop and maintain secure and reliable electronic systems; (vii) the loss of key executives or employees; (viii) changes in consumer spending; (ix) unexpected outcomes of existing or new litigation involving the Company; and (x) changes in accounting policies and practices. These risks and uncertainties should be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements. Additional information concerning the Company and its business, including additional factors that could materially affect the Company's financial results, is included in the Company's filings with the Securities and Exchange Commission.
QCR Holdings, Inc. is a multi-bank holding company headquartered in Moline, Illinois that serves the Quad Cities, Cedar Rapids and Rockford communities through its wholly owned subsidiary banks. Each bank provides full-service commercial and consumer banking, trust, and asset management services. The company also engages in commercial leasing through its 80% owned subsidiary, M2 Lease Funds, LLC, based in Milwaukee, Wisconsin.[3]:
QCR Holdings' deposit products include non-interest and interest-bearing demand deposits, time deposits, negotiable order of withdrawal accounts, regular checking accounts, savings deposits, and brokered certificates of deposits. The company offers commercial and retail lending and investment services to corporations, partnerships, individuals, and government agencies. Its loan portfolio comprises commercial loans, including loans to wholesalers, manufacturers, building contractors, business services companies, other banks, and retailers; commercial loans, including commercial real estate loans; and business loans, such as lines of credit for working capital and operational purposes. The company’s loan portfolio also includes term loans for the acquisition of facilities, equipment, and other purposes; and consumer loans, including motor vehicle, home improvement, home equity, signature loans, and small personal credit lines. In addition, it offers direct financing lease contracts services.
QCR is the holding company for Quad City Bank and Trust, formed in 1993; Cedar Rapids Bank and Trust, formed in 2001; Rockford Bank and Trust, formed in 2005; and First Wisconsin Bank and Trust, formed in February 2007. Together, they represent 10 offices throughout the Quad Cities (Rock Island, Ill.; Moline, Ill.; Davenport, Iowa; and Bettendorf, Iowa), Cedar Rapids, Iowa; Rockford, Illinois; and Milwaukee, Wisconsin.
Although reaching a state of profitability takes longer when starting from scratch, QCR has avoided many of the pitfalls associated with bank acquisitions. “Most banks have a high expectation of what their bank is worth upon sale, but not all key employees and clients can be retained, and you run the risk of inheriting unpleasant surprises,” he said. “Our model allows us to put systems and structures in place according to our own standards, and more importantly, we can hand-pick our staff, which gives us an incredible advantage.”
Going public right out of the box gave QCR another advantage. Hultquist explained that most start-up banks gather capital from their respective communities to get started and raise capital as needed thereafter. “We predicted the opportunity for growth would be significant and we should be careful not to start off undercapitalized,” he said. Being a public company enabled the QCR to reach $200 million without seeking additional capital. “Going public comes with a fairly significant cost—there are SEC and NASDAQ requirements to meet and so forth, but it has given us access to capital we needed to grow.”
Community focused
According to Hultquist, each QCR bank was created under a separate charter and given a community-centric name to illustrate the company’s commitment to relationship-based banking. In addition, each bank has its own board of directors. “A lot of consultants advise financial institutions on how to collapse charters, but that is not our model. Our game plan would not work if we didn’t present ourselves as a local bank focused on the community,” he said.
Nearly 85% of QCR’s loan portfolio is made up of commercial loans and leases, meaning the company has to target a wide array of businesses and industries. The company is selectively involved in real estate development, manufacturing, and the professional arena, including doctors, lawyers, and accountants. “We don’t want to be overly concentrated in one industry in case it takes a downturn,” said Hultquist.
But there is one exception. QCR serves a high concentration of hospitals and other healthcare-related organizations. “The healthcare industry is an increasingly larger percentage of our GDP, and it appears to be immune to volatile highs and lows.”
At present, QCR is not interested in pursuing geographic growth. Instead, it is looking to increase marketshare in its existing footprint. Hultquist noted that QCR will not open a branch unless it is expected to reach $100 million within five years. “Typically, when banks open a branch, they hope to hit $35 million because that is when they believe profitability starts. We set our mark a little higher,” he said.
As QCR looks to grow marketshare, it is limiting its reliance on bricks and mortar, as well as labor, with the use of technology, such as remote deposit capture. Strong online capabilities are also helping satisfy customer desire to do business at all hours of the day or night. But no matter how large of a role technology plays in QCR’s business, it will never replace face-to-face interactions. “Customers prefer to do some banking online, but they also enjoy working with people, so I don’t think the branch delivery system will ever go away,” Hultquist said
QCR Holdings, Inc. is a multi-bank holding company. The Company serves the Quad City, Cedar Rapids, Rockford and Milwaukee communities through its wholly owned banking subsidiaries, which provide commercial and consumer banking and trust and asset management services. Its subsidiaries include Quad City Bank and Trust Company (Quad City Bank & Trust), Cedar Rapids Bank and Trust Company (Cedar Rapids Bank & Trust) and Rockford Bank and Trust Company (Rockford Bank & Trust). In August 2008, it announced the sale of its Merchant Credit Card acquiring business to Veracity Payment Solutions
QCR Holdings, Inc., headquartered in Moline, Illinois, is a relationship-driven, multi-bank holding company, which serves the Quad City, Cedar Rapids, and Rockford communities through its wholly owned subsidiary banks. Quad City Bank and Trust Company, which is based in Bettendorf, Iowa, and commenced operations in 1994, Cedar Rapids Bank and Trust Company, which is based in Cedar Rapids, Iowa, and commenced operations in 2001, and Rockford Bank and Trust Company, which is based in Rockford, Illinois, and commenced operations in 2005, provide full-service commercial and consumer banking and trust and asset management services. Quad City Bank and Trust Company also engages in commercial leasing through its 80% owned subsidiary, m2 Lease Funds, LLC, based in Milwaukee, Wisconsin.
Special Note Concerning Forward-Looking Statements. This document contains, and future oral and written statements of the Company and its management may contain, forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 with respect to the financial condition, results of operations, plans, objectives, future performance and business of the Company. Forward-looking statements, which may be based upon beliefs, expectations and assumptions of the Company's management and on information currently available to management, are generally identifiable by the use of words such as "believe," "expect," "anticipate," "predict," "suggest," "appear," "plan," "intend," "estimate," "annualize," "may," "will," "would," "could," "should" or other similar expressions. Additionally, all statements in this document, including forward-looking statements, speak only as of the date they are made, and the Company undertakes no obligation to update any statement in light of new information or future events.
A number of factors, many of which are beyond the ability of the Company to control or predict, could cause actual results to differ materially from those in its forward-looking statements. These factors include, among others, the following: (i) the strength of the local and national economy; (ii) the economic impact of any future terrorist threats and attacks, and the response of the United States to any such threats and attacks; (iii) changes in state and federal laws, regulations and governmental policies concerning the Company's general business, including the recently enacted Dodd-Frank Wall Street Reform and Consumer Protection Act and the regulations to be issued thereunder; (iv) changes in interest rates and prepayment rates of the Company's assets; (v) increased competition in the financial services sector and the inability to attract new customers; (vi) changes in technology and the ability to develop and maintain secure and reliable electronic systems; (vii) the loss of key executives or employees; (viii) changes in consumer spending; (ix) unexpected outcomes of existing or new litigation involving the Company; and (x) changes in accounting policies and practices. These risks and uncertainties should be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements. Additional information concerning the Company and its business, including additional factors that could materially affect the Company's financial results, is included in the Company's filings with the Securities and Exchange Commission.