trending Market Intelligence /marketintelligence/en/news-insights/trending/osrqidolzuwjihdua8zwha2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

QCR to acquire wealth advisory Bates Cos.

Street Talk Episode 70 - Banks' liquidity conundrum could fuel M&A activity

StreetTalk – Episode 69: Banks left with pockets full of cash and few places to go

Street Talk – Episode 69: Banks left with pockets full of cash and few places to go

Street Talk Episode 68 - As many investors zig away from bank stocks, 2 vets in the space zag toward them

QCR to acquire wealth advisory Bates Cos.

In Illinois, Moline-based bank QCR Holdings Inc. is acquiring Rockford-based Bates Cos., which includes Bates Financial Advisors Inc., Bates Securities Inc., Bates Financial Services Inc. and Bates Financial Group Inc.

QCR will pay $3 million in cash and up to $3 million of its common stock in the transaction and will merge the acquired entities into Rockford Bank and Trust Co.'s wealth management unit. Rockford had $461.7 million in assets at the end of 2017, according to S&P Global Market Intelligence data. Bates Cos. had approximately $700 million in assets under management at that time.

The deal, which is still subject to regulatory approvals, is expected to close late in the second quarter or early in the third. Bates Cos. President George Bates will stay on in his role after the merger.

QCR is also planning a private placement of about 21,528 common shares upon the merger's completion. If the merger's total stock consideration reaches $3 million, QCR may issue a total of 64,583 common shares, based on its current stock price.

In the first full year following the acquisition, the transaction is projected to be 0.3% accretive to EPS, excluding the impact of future consideration. The internal rate of return is anticipated to be higher than 15%.

Piper Jaffray & Co. and Barack Ferrazzano Kirschbaum & Nagelberg LLP served as QCR's financial adviser and legal counsel, respectively. For Bates Cos., DeWitt Ross & Stevens SC was legal counsel.