Welcome to Cedar Rapids Bank & Trust!

We look forward to serving you.

 

Important Information for Guaranty Bank Customers.

We understand that there are likely many questions surrounding what took place, what's going to happen, and how these changes are going to impact our clients and our community. We have put together the following information to answer questions you may have about Cedar Rapids Bank & Trust’s (CRBT) acquisition of Guaranty Bank & Trust (Guaranty Bank).

If, after reading the information below, you still have questions, please feel free to call:

Cedar Rapids Bank & Trust:  319.862.2728 from 8:30am to 5:00pm, Monday through Thursday, 8:30am-5:30pm on Fridays and 9:00am-12:00pm on Saturdays.

Guaranty Bank & Trust:  319.286.6200 from 8:30am to 4:30pm, Monday through Friday.

Key Messages

  • Cedar Rapids Bank & Trust, a wholly-owned subsidiary of QCR Holdings, Inc., plans to acquire Guaranty Bank and Trust Company from Guaranty Bankshares, Ltd.
  • Effective with the closing of this merger transaction, which is expected to happen in late third quarter or early fourth quarter of 2017, Guaranty Bank will be merged into CRBT.
  • Despite the merger taking place, customers do not need to do anything now. There will be no immediate changes, and customer will continue to do all of their physical and online banking at Guaranty Bank until the data processing system is converted over to CRBT. This conversion is expected to occur in late fourth quarter of 2017 or early 2018. At that time, our name will officially change to Cedar Rapids Bank & Trust.
  • The two banks are working together to ensure the transition is as smooth as possible with minimal impact to customers.
  • Established in 2001,CRBT is a full-relationship community bank offering commercial and consumer banking, mortgage lending, private banking, and trust and investment services. Our focus is building relationships with clients and our community through exceptional customer service and community involvement.

Communication

Customer Q&A

What is happening to my bank?

On June 8, 2017, Guaranty Bank & Trust announced that it would be acquired by QCR Holdings, Inc., the parent company to Cedar Rapids Bank & Trust.

Why was CRBT selected as the acquirer of Guaranty Bank?

The Board of Directors of Guaranty Bankshares considered all alternatives and believes a sale of Guaranty Bank to QCRH/CRBT represents the best long-term alternative for shareholders, clients and employees.  Guaranty Bank and CRBT share similar cultures of exceptional client service and community involvement. Both are well respected in the Cedar Rapids area and we believe the combination of the two organizations will better serve the community.

What do I need to do? How does this Affect My Account(s)?

CRBT and Guaranty Bank are committed to making the transition as easy as possible. At this time, there’s nothing you need to do - there are no immediate changes. 

Your account(s) will stay the same until the transaction closes later this year. Therefore, Guaranty Bank clients can continue to conduct their banking as usual at all of Guaranty Bank’s five locations. You can continue to use your current checks, deposit slips, debit and ATM cards, and your direct deposits, pre-authorized/recurring transactions and statements will continue without interruption.  You can also continue to use your current online banking accounts and mobile app.  You will be notified well in advance of any changes that may be required by the data processing conversion.  

After the data processing conversion is completed in late fourth quarter of 2017 or early 2018, clients will be converted to CRBT branded materials.  Clients will also begin to access their online banking accounts and mobile app through CRBT’s URL and mobile app. Clients can also anticipate a broader range of products and services available to help them achieve their financial goals.

What is the Expected Timing of the Merger?

The transaction is subject to approval by Guaranty Bankshares' shareholders, banking regulators and certain closing conditions. Currently, the merger is expected to close in the late third quarter or early fourth quarter of 2017, with the data processing conversion to be completed in late fourth quarter of 2017 or early 2018.

Will I receive information from CRBT?

Yes, we will provide clear communication to ensure that Guaranty Bank customers understand how this transition will affect them. You will receive everything you need to ensure the merger is as smooth as possible with minimal impact or inconvenient.

You will receive easy-to-understand conversion material with information and instructions regarding any actions you may need to take for your account options in advance of the data processing conversion. Conversion materials will also be posted here on our website as available.

Should I expect someone to call or email me to verify my deposit account information?

No, neither Guaranty Bank nor CRBT will call or email you to ask for your personal, confidential information. However, if you call us, we may ask you for some of that information to simply verify your identity. Please let us know if someone calls or emails you, claiming to be from Guaranty Bank and/or CRBT, and asks you for personal, confidential information.

Are CRBT’s Products and Services the Same as Guaranty Bank?

Like Guaranty Bank, CRBT offers retail and commercial banking, private banking, mortgage lending, and trust and investment services. However, we believe CRBT will enhance the existing offerings with expanded products and services, enhanced lending and leasing capabilities, and synergy of expertise. In advance of any changes, you will be mailed a CRBT Products and Services Guide, along with important information about the conversion, and steps you may need to take to ensure a smooth transition.

What will happen to my Guaranty Bank Online Banking accounts and Mobile App?

At this time, you can continue to use your current Guaranty Bank online banking accounts and mobile app. You will be notified well in advance of any changes that may be required by the data processing conversion. After the conversion is completed in late fourth quarter of 2017 or early 2018, clients will be begin to access their online banking accounts and mobile app CRBT’s URL and mobile app. We understand the importance of online banking services and will work to make this transition as seamless as possible.

Will my branch location still be open?

There are no immediate changes. Details on the future of Guaranty Bank’s existing five branch locations have yet to be determined. As more information becomes available, we will make every effort to keep you updated on developments.

What is CRBT’s approach to lending and how will it affect my loans with Guaranty Bank?

CRBT takes pride in being extremely responsive to loan requests. We offer a variety of loan products for individuals and businesses at competitive rates. At this time, the terms and conditions of your loan(s) and line(s) of credit will remain the same.

What happens to my FDIC insurance coverage if I have deposits at two insured banks that merge?

After the completed conversion expected in late 2017 or early 2018, if your combined balances at Guaranty Bank and CRBT are less than $250,000, you do not need to worry or make any changes to your accounts. Alternately, if the combined total balances exceed $250,000, there is no reason to immediately withdraw money or restructure your accounts. The FDIC will continue to provide deposit insurance up to $250,000 for each of your account ownership categories. The FDIC has a special rule that says when two banks merge, a customer’s deposits will be considered to be separately insured – as if the two banks are still operating separately, for at least six months. This grace period gives a depositor the opportunity to restructure his or her accounts, if necessary. Prior to making any account changes, simply reach out to your banker to discuss your options. You may be eligible for insurance coverage over $250,000 depending on the ownership structure of your accounts.

Who is Cedar Rapids Bank & Trust?

In Spring 2001, four veteran businessmen took the first leap to create a community bank that would cater to the needs of local customers. Their mission was simple – create an organization where relationships and service matter.  Their vision was to assemble the best banking talent available and to build a bank that would be capable of serving the long-term growth needs of Cedar Rapids and its surrounding communities.

On September 28, 2001, this dream became a reality. CRBT opened to the public with 17 employees and $14.5 million in assets. From day one, their highly-motivated team of bankers has been committed to building relationships through professional, personal service.

CRBT is a full-relationship bank that provides retail and commercial banking, mortgage lending, private banking, and wealth management services. As an organization committed to exceptional service, CRBT strives to add value to clients by helping connect them to other people and services within CRBT, as well as additional resources and tools outside the bank that can assist them in reaching their financial goals. CRBT clients enjoy the tools of a major financial institution, the convenience of a one-stop financial resource, and the responsiveness that can only come from a client-focused bank. But just as important, all of their personnel are right here in our Eastern Iowa communities. CRBT believes local matters and makes a difference.

The Bank has experienced phenomenal organic and strategic growth since its inception. Today, CRBT has grown to 125 employees, 5 locations and over $929 million in assets as of March 31, 2017. This includes the purchase of Village Bank’s assets and liabilities after the Flood of 2008 and more recently, the acquisition of Community Bank & Trust (previously Community National Bank), which operates as a division of Cedar Rapids Bank & Trust with 3 locations in Cedar Falls/Waterloo .

Recent accolades include: #1 SBA Bank in Iowa over the past eight years (based on total dollar volume from FY09-16); #1 USDA Business Lender (Business & Industry) in Iowa and #5 in the Nation (2016); Corridor Business Journal Coolest Places to Work Honoree (2014 & 2015); Corridor Business Journal Worksite Wellness Recognition in the 100-249 employees category (2016), 100% Employee Giving to United Way for 15th Consecutive Year (2016); 12th annual CRBT Movies on the Riverbank series (2017), which has become their signature community event held at the McGrath Amphitheatre during the summer; Presenting Sponsor of the entire Cedar Rapids Downtown Farmers Market (2017-2019) and 4,150 Total Employee Volunteer Hours (2016).

These achievements reflect the confidence of clients and the dedication of their knowledgeable and experienced staff to continually focus on relationships. Under the leadership of CRBT President & CEO, Larry Helling, Cedar Rapids Bank & Trust is committed to the clients and communities we serve. This focus has guided Cedar Rapids Bank & Trust in the past and will continue on as the strategy far into the future.

Who is QCR Holdings, Inc.?

QCR Holdings, Inc., headquartered in Moline, Illinois, is a relationship-driven, multi-bank holding company. Similar to Guaranty Bankshares Ltd., both organizations share a similar culture of delivering exceptional customer service through the local community bank model.  Both organizations strive to hire the very best people in their markets and encourage them to participate heavily in their communities.

QCRH serves the Quad City, Cedar Rapids, Des Moines/Ankeny, and Rockford communities through its wholly owned subsidiary banks.  Quad City Bank & Trust is based in Bettendorf, Iowa, has 5 locations, and commenced operations in 1994.  Cedar Rapids Bank & Trust is based here in Cedar Rapids, Iowa, has 2 locations and commenced operations in 2001.  Community State Bank in Des Moines/ Ankeny was acquired by QCR Holdings in 2016 has 10 locations.  Rockford Bank & Trust Company is based in Rockford, Illinois has 2 locations and commenced operations in 2005. Additionally, the Company serves the Waterloo/Cedar Falls, Iowa community through Community Bank & Trust, a division of Cedar Rapids Bank & Trust Company. In addition, Quad City Bank & Trust engages in commercial leasing through its wholly owned subsidiary, m2 Lease Funds, LLC, based in Milwaukee, WI.