The pending deal between Missouri-based Springfield Bancshares Inc. and Moline, Ill.-based QCR Holdings Inc. will result in a number of board changes, according to a filing recently obtained by S&P Global Market Intelligence.
Upon the closing of the acquisition in the third quarter, QCR Holdings will appoint Tim O'Reilly, a director of Springfield Bancshares, to its board.
Robert Fulp, current chairman of Springfield First Community Bank, will become a director of the bank. The bank will appoint an independent chairman in his place. It will also name QCR Holdings President and CEO Douglas Hultquist to its board.