QCR Holdings, Inc. (Nasdaq: QCRH) announced on November 2, 2026, that its wholly-owned subsidiary, Cedar Rapids Bank & Trust Company, has entered into a definitive agreement to sell its Community Bank & Trust division to BankIowa. The transaction involves the sale of three branch locations serving the Waterloo-Cedar Falls metropolitan area in Iowa, including two branches in Waterloo and one branch in Cedar Falls.
The sale includes specific assets and liabilities associated with these branches. As of September 30, 2026, the transaction encompasses approximately $140 million in deposits and $29 million in loans. Additionally, certain wealth management relationships are expected to transition as part of the deal, representing approximately $153 million in assets under management as of the same date.
The transaction is not expected to result in a material gain or loss for QCR Holdings. The company anticipates the deal will close during the first quarter of 2027, subject to customary closing conditions and regulatory approvals. QCR Holdings stated that the sale reflects a commitment to strategically allocate resources and optimize the company for sustained performance.
Todd A. Gipple, President and CEO of QCR Holdings, noted that while the company is grateful for the relationships built in the Waterloo and Cedar Falls markets, the transaction provides the best opportunity for clients, employees, and communities. Alison Urbina, President and CEO of BankIowa, expressed excitement about welcoming the clients and employees to strengthen the bank's presence in the Cedar Valley market.
