QCR Holdings, Inc. Announces Annual Meeting Results and a Cash Dividend of $0.06 per Share
23 Maggio 2019 - 10:15PM
QCR Holdings, Inc. (NASDAQ: QCRH) (the “Company”) today announced
the election of three Class II directors at the Company’s annual
meeting of its stockholders. The directors, Patrick S. Baird, Larry
J. Helling and Mark C. Kilmer, were re-elected to three-year terms.
As previously announced, effective at the annual stockholders’
meeting, Douglas M. Hultquist retired from the Company’s board of
directors and from his roles as President and Chief Executive
Officer, and leadership of QCR Holdings, Inc. transitioned to
current executive leaders and Company directors, Larry J. Helling
and Todd A. Gipple. Mr. Helling is now Chief Executive Officer of
the Company, and Mr. Gipple is President in addition to his roles
of Chief Operating Officer and Chief Financial Officer.
Additionally, Linda K. Neuman, a Company director since 2013,
previously informed the board that she would not seek re-election
at the meeting and thus was not re-nominated.
“We again want to thank Doug for his dedication to QCR Holdings
over the last 25 years. We will miss his vision and leadership but
wish him well in his new chapter in life,” said Pat Baird, Chair of
QCR Holdings. “The board would also like to thank Linda for her
many years of thoughtful perspective and expertise which helped
guide us well.”
He continued, “Finally, we’d like to congratulate both Larry and
Todd and wish them all the success that we know they will have in
their new roles. We have all the confidence that QCR Holdings will
continue to thrive under their leadership and direction.”
Immediately following the annual meeting of stockholders, the
Company’s board of directors declared a cash dividend of $0.06 per
share distributable on July 3, 2019, to holders of common stock of
the Company of record on June 21, 2019.
About Us
QCR Holdings, Inc., headquartered in Moline, Illinois, is a
relationship-driven, multi-bank holding company serving the Quad
Cities, Cedar Rapids, Cedar Valley, Des Moines/Ankeny, Springfield
and Rockford communities through its wholly owned subsidiary banks
which provide full-service commercial and consumer banking and
trust and wealth management services. Quad City Bank & Trust
Company, based in Bettendorf, Iowa, commenced operations in 1994,
Cedar Rapids Bank & Trust Company, based in Cedar Rapids, Iowa,
commenced operations in 2001, Community State Bank, based in
Ankeny, Iowa, was acquired by the Company in 2016, and Rockford
Bank & Trust Company, based in Rockford, Illinois, commenced
operations in 2005. In 2018, the Company acquired the Bates
Companies, a wealth management firm. Quad City Bank & Trust
Company also provides correspondent banking services. In addition,
Quad City Bank & Trust Company engages in commercial leasing
through its wholly owned subsidiary, m2 Lease Funds, LLC, based in
Milwaukee, Wisconsin. Additionally, the Company serves the
Waterloo/Cedar Falls, Iowa community through Community Bank &
Trust, a division of Cedar Rapids Bank & Trust Company. In July
2018, QCR Holdings completed a merger with Springfield Bancshares,
Inc., the holding company of Springfield First Community Bank of
Springfield, Missouri. With this addition of Springfield First
Community Bank, the Company has 27 locations in Illinois, Iowa,
Wisconsin and Missouri. As of March 31, 2019, QCR Holdings had
approximately $5.1 billion in assets, $3.8 billion in loans and
$4.2 billion in deposits. For additional information, please visit
our website at www.qcrh.com.
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, state, national and international economies;
(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; (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)
unexpected results of acquisitions, which may include failure to
realize the anticipated benefits of the acquisition and the
possibility that the transaction costs may be greater than
anticipated; (viii) the loss of key executives or employees;
(ix) changes in consumer spending; (x) unexpected
outcomes of existing or new litigation involving the Company; and
(xi) 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.
Contacts:
Todd A. GipplePresidentChief Operating OfficerChief Financial
Officer(309) 743-7745tgipple@qcrh.com
Christopher J. LindellExecutive Vice PresidentCorporate
Communications(319) 743-7006clindell@qcrh.com
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