QCR Holding Inc., of Moline, Ill., said Tuesday that it has launched Rockford Bank and Trust Co.
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The new bank is the third the $832 million-asset QCR has opened in the past 10 years. Rockford Bank and Trust, in the Illinois city of the same name, had $10 million of initial capital, which was raised through a combination of debt, and $5 million in equity, raised mostly through a private placement of common shares sold to community residents.
QCR opened Quad City Bank and Trust in Bettendorf, Iowa, in January 1994. That bank now has $628 million of assets. In 2001 QCR opened Cedar Rapids Bank and Trust Co. in Iowa, which now has $204 million. QCR also owns Quad City Bancard Inc., a Moline provider of credit card processing services.
