BankIowa to Buy Community Bank & Trust Division
QCR Holdings said the Waterloo/Cedar Falls unit sale will sharpen focus on markets with the greatest long-term growth potential.
QCR Holdings, Inc. (QCRH) said its subsidiary Cedar Rapids Bank & Trust Company entered a definitive agreement with BankIowa, based in Cedar Rapids, Iowa, to sell the Community Bank & Trust division, three branches serving the Waterloo-Cedar Falls metropolitan area.
The sale includes two branches in Waterloo, Iowa, and one in Cedar Falls, Iowa, along with certain deposits and loans associated with those branches totaling approximately $140 million and $29 million, respectively, as of September 30, 2026. Certain wealth management relationships in the market are also expected to transition, representing approximately $153 million in assets under management as of that date.
Todd A. Gipple, President and CEO of QCR Holdings, said: “This transaction reflects our ongoing commitment to strategically allocate resources and optimize our Company for sustained top-tier financial performance.” He added that the company believes the sale provides the best opportunity for clients, employees, and communities in Waterloo and Cedar Falls while allowing it to sharpen its focus on markets where it sees the greatest long-term growth potential.
Alison Urbina, President and CEO of BankIowa, said the transaction strengthens the company’s presence in the Cedar Valley market and aligns with its commitment to deliver exceptional service to individuals, families, and businesses in the area.
Community Bank & Trust is a division of Cedar Rapids Bank & Trust Company and serves the Waterloo/Cedar Falls, Iowa community. QCR Holdings, a multi-bank holding company headquartered in Moline, Illinois, has 35 locations in Iowa, Missouri, and Illinois. As of September 30, 2026, QCR Holdings reported $9.8 billion in assets, $7.2 billion in loans and $7.2 billion in deposits.
Cedar Rapids Bank & Trust had $2.98 billion in assets, $2.04 billion in deposits and $2.07 billion in loans and leases as of September 30, 2026. Clients of Community Bank & Trust will continue to be served through their existing branch locations and will receive additional information regarding account and service transitions prior to closing.
The transaction is not expected to result in a material gain or loss to QCR Holdings. It is anticipated to close during the first quarter of 2027, subject to customary closing conditions and regulatory approvals.