QCR Holdings, Inc. (NASDAQ: QCRH) Enters Consulting Services Agreement with John H. Anderson

QCR Holdings, Inc., a financial holding company headquartered in Moline, Illinois, disclosed a notable development in a recent 8-K filing with the Securities and Exchange Commission. The company reported a Consulting Services Agreement with John H. Anderson, former Chief Deposit Officer and Chief Executive Officer of Quad City Bank and Trust Company (QCBT), its wholly-owned bank subsidiary. The agreement, effective January 3, 2025, pertains to Anderson’s retirement, scheduled for the same day.

The Consulting Services Agreement outlines that John H. Anderson will extend his professional services to QCBT until December 31, 2025. These services include advisory roles in various aspects like business development, employee coaching, and mentoring. In addition to existing benefits stipulated in his Employment Agreement, Anderson will receive a monthly consulting retainer and specific expense reimbursements throughout the agreement’s duration.

The details of the Consulting Services Agreement between Quad City Bank and Trust Company and John H. Anderson were submitted by QCR Holdings, Inc. as part of its filing with the SEC. The complete terms and conditions of this agreement can be accessed in Exhibit 10.1 attached to the Form 8-K filing.

This agreement signifies a strategic move by QCR Holdings, Inc. and Quad City Bank and Trust Company to ensure a smooth transition following Anderson’s retirement. The company aims to benefit from Anderson’s expertise and experience during this consulting period to facilitate operational continuity and transition.

For more information on this filing, investors and interested parties can refer to the official documents filed with the SEC or access the company’s website for additional details. This development underscores QCR Holdings, Inc.’s commitment to strategic planning and smooth executive transitions in its operations.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read QCR’s 8K filing here.

About QCR

QCR Holdings, Inc, a multi-bank holding company, provides commercial and consumer banking, and trust and asset management services. The company’s deposit products include noninterest-bearing demand, interest-bearing demand, time, and brokered deposits. It also provides various commercial and retail lending/leasing, and investment services to corporations, partnerships, individuals, and government agencies.