Changing of the guard at an Illinois bank
QCR Holdings in Moline, Ill., has named its next leader.
Larry Helling will take the baton from Douglas Hultquist at the $4.8 billion-asset company's annual shareholder meeting scheduled for May 23.
Hultquist will retire as president and CEO but continue to serve on the board of Springfield First Community Bank, QCR’s newest subsidiary.
Helling will take over as CEO of the overall company and remain president and CEO at the $1.3 billion-asset Cedar Rapids Bank & Trust, another one of QCR's brands.
Todd Gipple — the chief financial officer and chief operating officer of QCR — will add the president's title. Gipple has been with QCR since 2000.
Chairman Pat Baird in a press release Monday praised Hultquist's "dedication to local control and ... collaborative style" in overseeing the growth of the company from a de novo bank in 1993 to a holding company with five charters today.
Helling, in the same release, said he would "continue to build relationships that help our clients" and benefit shareholders as well.