Guaranty Bank was acquired by QCR Holdings, and its banking subsidiary, Guaranty Bank, was subsequently merged into QCR Holdings' Springfield-based charter, Springfield First Community (SFC) Bank.
Details of the Acquisition
QCR Holdings completed the acquisition of Guaranty Federal Bancshares Inc., the parent company of Guaranty Bank. Following this acquisition, Guaranty Bank became part of the QCR Holdings family of companies. The specific merger of the banking operations saw Guaranty Bank integrate with Springfield First Community (SFC) Bank.
Key Merger Information
To clarify the entities involved and the merger process:
| Entity Type | Name | Role in Acquisition |
|---|---|---|
| Acquiring Holding Company | QCR Holdings | Acquired Guaranty Federal Bancshares Inc., the parent company of Guaranty Bank. |
| Acquiring Bank | Springfield First Community (SFC) Bank | The specific bank subsidiary of QCR Holdings into which Guaranty Bank was merged. |
| Acquired Bank | Guaranty Bank | The banking subsidiary of Guaranty Federal Bancshares Inc. that was merged into SFC Bank. |
| Effective Date of Bank Merger | April 2, 2022 | The date when Guaranty Bank's operations officially merged into SFC Bank. |
This strategic move expanded QCR Holdings' presence, particularly in the Springfield, Missouri market through its SFC Bank charter.
Implications for Customers
For customers of Guaranty Bank, the merger into Springfield First Community (SFC) Bank typically meant:
- Account Transition: Existing accounts, loans, and services were transferred to SFC Bank.
- Branch Integration: Guaranty Bank branch locations likely transitioned to SFC Bank branches, providing continued local service.
- System Updates: Customers would have received information regarding changes to online banking platforms, debit cards, and other banking tools.
These types of mergers aim to provide customers with continued access to banking services, potentially with enhanced offerings and a broader network.
