MOLINE, Ill. - QCR Holdings , Inc. (NASDAQ:QCRH), a multi-bank holding company, announced today the planned retirement of John H. Anderson, the Chief Deposit Officer of QCRH and CEO of Quad City Bank and Trust Company (QCBT).
Mr. Anderson's departure is set for January 3, 2025. He has been a prominent figure in the Quad Cities banking sector for four decades, dedicating 26 years to QCBT, including 17 as CEO.
Laura Divot Ekizian is slated to succeed Anderson as CEO of QCBT while continuing in her current role as President. Ekizian has served as President and Chief Relationship Officer for the past four years. The transition period will see Anderson collaborating with Ekizian to facilitate a smooth handover of responsibilities.
Larry Helling, CEO of QCRH, expressed gratitude on behalf of the company and board for Anderson's dedication and leadership contributions, wishing him a fulfilling retirement.
QCR Holdings, headquartered in Moline, Illinois, operates through its subsidiary banks providing a range of commercial, consumer banking, trust, and wealth management services. With a history dating back to 1994, the company has expanded to 36 locations across Iowa, Missouri, Wisconsin, and Illinois. As of March 31, 2024, QCR Holdings reported $8.6 billion in assets, $6.6 billion in loans, and $6.8 billion in deposits.
This leadership change reflects the company's commitment to strategic planning and ensuring continuity in its management team. The information regarding the transition is based on a press release statement from QCR Holdings, Inc.
InvestingPro Insights
As QCR Holdings, Inc. (NASDAQ:QCRH) prepares for a significant leadership transition with the retirement of John H. Anderson, investors and stakeholders may find the following insights from InvestingPro particularly valuable.
With a market capitalization of approximately $983.12 million and a reputation for consistent dividend payments, the company stands out in the financial sector. Notably, QCR Holdings has maintained dividend payments for 23 consecutive years, showcasing its commitment to shareholder returns.
Analyzing the company's financial health, QCR Holdings currently trades at an attractive P/E ratio of 8.73, which is considered low relative to its near-term earnings growth. This is underscored by the fact that analysts have revised their earnings upwards for the upcoming period, indicating optimism about the company's profitability.
Despite challenges such as weak gross profit margins, QCR Holdings has delivered a high return over the last year, with a 54.28% total return. This performance is a testament to the company's resilience and the strategic direction upheld by its leadership.
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