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QCR Holdings, Inc. Announces CEO Retirement and Transition

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November 26, 2018
Moline, IL, November 19, 2018 – QCR Holdings, Inc. (NASDAQ: QCRH) (“QCR Holdings” or the
“Company”), today announced that, effective at the annual stockholders meeting on May 23, 2019,
Douglas M. Hultquist will retire from the Company’s board of directors and from his roles as President
and Chief Executive Officer. Leadership will transition upon Mr. Hultquist’s retirement to current
executive leaders and Company directors, Larry J. Helling and Todd A. Gipple. Mr. Helling will become
Chief Executive Officer of the Company and Mr. Gipple will become President.

“Our deepest thanks to Doug for his vision and leadership which took QCR Holdings from a concept 25
years ago to today’s successful $4.8 billion multi-bank holding company,” remarked Pat Baird, Chair of
QCR Holdings. “Doug’s unrelenting focus on clients, dedication to local control and his collaborative
style have been the keys to growing the organization from a single de novo bank in 1993 to a regional
company with five charters. We also appreciate Doug giving the Board the time to put together a good
succession plan. We look forward to Doug’s continued friendship and support of our Company for many
years into our future.”

“It’s been a privilege to serve and see the huge positive impact that QCR Holdings has made and
continues to make in the lives of our teammates, clients and communities. Our success has been built on
hiring the best people. Thank you to each of the over 750 very talented employees for your dedication and
the exceptional difference you make for our clients. I shall always be indebted to my friend and cofounder
of the Company, Mike Bauer,” said Mr. Hultquist. “Much like today, 25 years ago the banking
industry was experiencing consolidation. In the Quad Cities commercial clients had few choices. Our
vision was simple – focus on the client relationship. Although I am retiring in May, I will continue to be
a director of Springfield First Community Bank, our newest bank subsidiary, and I will also continue to
serve on the board of my alma mater, Augustana College.”

Days after 9/11 in 2001, Mr. Helling led the Company’s creation of Cedar Rapids Bank & Trust, which
today, at $1.3 billion in assets, is the largest community bank serving the Cedar Rapids, Iowa area. “I’m
honored and humbled to soon take on the CEO role at QCR Holdings,” said Mr. Helling. “I look forward
to leading our team as we continue to build relationships that help our clients. As our clients and
communities prosper our Company will continue to deliver value to our shareholders.”

Mr. Helling, an Iowa native and graduate of Iowa State University, has over 30 years of commercial
banking experience. He previously was the Executive Vice President and Regional Commercial Banking
Manager of Firstar Bank, now US Bank, in Cedar Rapids with a focus on the Cedar Rapids metropolitan
area and the Eastern Iowa region. Prior to his six years with Firstar, Mr. Helling spent 12 years with
Omaha National Bank. Mr. Helling is recognized as a community leader in the Cedar Rapids Metro area
and also serves as the Chief Executive Officer and President of Cedar Rapids Bank & Trust. Mr. Helling
will continue to reside in Cedar Rapids and serve in his roles at Cedar Rapids Bank & Trust.
Mr. Gipple, who joined QCR Holdings in 2000, will remain Chief Financial Officer and Chief Operating
Officer in addition to his new duties as President.

Mr. Gipple, an Iowa native and graduate of the University of Northern Iowa and a Certified Public
Accountant, began his career with KPMG Peat Marwick in 1985 where he and Mr. Hultquist worked
together. He specialized in financial institutions taxation and mergers and acquisitions throughout his 14-
year career in Public Accounting. Today, Mr. Gipple serves in an executive leadership role and is a
valuable board member of multiple QCRH charters. He is also an active community leader in the Quad
Cities.

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. The Company enhanced its presence in Cedar Rapids, Iowa with the acquisition
of Guaranty Bank & Trust Company in October 2017, which merged with Cedar Rapids Bank & Trust in
December 2017. In July 2018, QCR Holdings completed a merger with Springfield Bancshares, Inc., the
holding company of SFC Bank of Springfield, Missouri. With the addition of SFC Bank, QCR Holdings
has 27 locations in Illinois, Iowa, Wisconsin and Missouri. As of September 30, 2018, QCR Holdings had
approximately $4.8 billion in assets, $3.7 billion in loans and $3.8 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. Gipple
Executive Vice President
Chief Operating Officer
Chief Financial Officer
(309) 743-7745
tgipple@qcrh.com

Christopher J. Lindell
Executive Vice President
Corporate Communications
(319) 743-7006
clindell@qcrh.com
 

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