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QCR HOLDINGS , INC . a relationship driven organization * Guaranty Federal Bancshares Exhibit 99.1 PRESS RELEASE QCR Holdings , Inc. Announces Acquisition of Guaranty Federal Bancshares , Inc. FOR IMMEDIATE RELEASE Moline , IL , Springfield , MO , Nov. 9 , 2021 -- QCR Holdings , Inc. ( NASDAQ : QCRH ) ( “ QCR Holdings ” ) and Guaranty Federal Bancshares , Inc. ( NASDAQ : GFED ) ( " Guaranty " ) jointly announced today the signing of a definitive agreement whereby QCR Holdings will acquire Guaranty and merge Guaranty Bank , the banking subsidiary of Guaranty into Springfield First Community Bank ( " SFC Bank ” ) , QCR Holdings ' Springfield - based charter . The combined bank will operate under the Guaranty Bank name in all Springfield and southwest Missouri markets . " Springfield and neighboring southwest Missouri markets make up a vibrant region where strong relationships with our clients matter . Guaranty Bank strongly aligns with our culture and our dedication to client service , " said Larry Helling , QCR Holdings Chief Executive Officer . " Enhancing our market share in this region supports our strategic goals and enables us to extend our high - performing and profitable niche business lines benefiting clients and shareholders alike . " Established in 1913 , Guaranty Bank currently has 16 banking locations in Springfield , Joplin , Carthage , Ozark , Nixa and Neosho , Missouri , which will expand and complement QCR Holdings ' presence in and commitment to the region . Guaranty reported approximately $ 1.2 billion in assets and $ 1.0 billion in deposits as of September 30 , 2021 . As of September 30 , 2021 , the combined bank would have approximately $ 2.0 billion in total assets , $ 1.5 billion in total loans and $ 1.6 billion in total deposits . In addition , the combined bank would rank # 4 in deposit market share in the Springfield market as of June 30 , 2021. Consolidated pro forma total assets as of September 30 , 2021 would be $ 7.2 billion , while consolidated pro forma loans and deposits would be $ 5.4 billion and $ 5.9 billion , respectively . " Our M & A strategy has always been about finding the right partners in the right markets that share our core values and business strategy , " said Todd A. Gipple , President , Chief Operating Officer and Chief Financial Officer of QCR Holdings . “ The blending of talent and expertise from both SFC Bank and Guaranty Bank , and the increased product and service capabilities of the combined bank , will result in continued strong growth in Springfield and surrounding communities . We are very excited about the opportunities this merger provides . "