QCR Holdings, Inc., the parent company of Quad City Bank & Trust (QCBT), has been named one of the Top 50 Best-Performing Community Banks of 2021 for a second year in a row.
The Quad Cities company was recognized by S&P Global Market Intelligence. The ranking is based on measurements of financial and operating strength for community banks with assets between $3 billion and $10 billion.
Headquartered in Moline, QCR Holdings is a multi-bank holding company that includes Quad City Bank & Trust; Cedar Rapids Bank & Trust in Cedar Rapids, Iowa; Community State Bank, based in Ankeny, Iowa; SFC Bank, based in Springfield, Missouri; Community Bank & Trust, a division of Cedar Rapids Bank & Trust, located in the Cedar Falls/Waterloo, Iowa, area.
“Quad City Bank & Trust is proud to be a part of QCR Holdings. It’s humbling to be recognized as one of the top performing banks while also improving our position for the year,” John Anderson, the bank’s CEO, said in a news release. “We pride ourselves on building strong relationships with our clients and our communities. I believe our performance is a reflection of our team’s dedication to those values.”
To compile the annual ranking, S&P Global Market Intelligence calculated scores for each company based on six metrics. They are: pretax return on tangible common equity; efficiency ratio; operating revenue growth; net charge-offs to average loans and leases net of Paycheck Protection Program (PPP) loans ratio; nonperforming assets and loans 90 days or more past due as a percentage of total assets, net of PPP loans; and leverage ratio.
Each company’s standard deviation from the industry mean was calculated for every ranking metric, weighted, then combined to derive a performance score. To help normalize the data and mitigate the impact of outliers, caps and floors were applied for each metric.
Founded in 1994, QCBT has grown to be a local community bank with more than $2.1 billion in assets. Headquartered in Bettendorf, QCBT provides full-service commercial and consumer banking, correspondent banking, trust and asset management services. The bank employs 160 people at five Quad Cities area locations. For more information, visit www.qcbt.com.