QCR Holdings Inc. in Moline, Ill., has agreed to buy Farmers State Bank of Ridgeland, Wis., from Ridgeland Bancorp Inc. of Tony, Wis.
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The acquisition would give the $1.2 billion-asset QCR its first Wisconsin state charter. It currently has one charter in Illinois and two in Iowa. Its Illinois subsidiary, the $80 million-asset Rockford Bank and Trust Co., has one branch in Pewaukee, Wis.
After completing the deal, QCR would transfer the Pewaukee branch from the Rockford bank to Farmers. It would then sell Farmers two branches, in Ridgeland and Dallas, Wis., to the $153 million-asset Security Bank Shares Inc. of Iron River, Wis.
It did not give the prices for the deals, which were announced Monday after the markets closed.
