QCR Holdings, Inc. (NASDAQ: QCRH) has acquired Guaranty Federal Bancshares, Inc. (NASDAQ: GFED). QCR will acquire Guaranty and merge its subsidiary, Guaranty Bank, into Springfield First Community Bank.

The combined entity will operate under the Guaranty Bank name in all Springfield and Southwest Missouri Markets. Guaranty Bank has 16 banking locations across Missouri and reported $1.2 billion in assets and $1 billion in deposits as of the end of September, 2021.

“Our M&A strategy has always been about finding the right partners in the right markets that share our core values and business strategy,” said Todd Gipple, president, COO and CFO of QCR Holdings. “The blending of talent and expertise from both SFC Bank and Guaranty Bank, and the increased product and service capabilities of the combined bank, will result in continued strong growth in Springfield and surrounding communities.”

“Joining the QCR Holdings family and the team at SFC Bank is an exciting opportunity for us to expand our product and service offerings while continuing our track record of delivering exceptional client service,” added Shaun Burke, Guaranty Bank president and CEO.