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Guaranty Bank became a QCR subsidiary in April.
SBJ file
Guaranty Bank became a QCR subsidiary in April.

Changing of the guard at Guaranty yields new CFO

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Moline, Illinois-based QCR Holdings Inc. (Nasdaq: QCRH), the new parent company of Guaranty Bank, has named a chief financial officer for the company after the exit of a longtime staffer.

Teri Harris has been promoted to first vice president and CFO of Guaranty, according to a news release. Harris, who previously worked as vice president and controller for Guaranty, on LinkedIn changed her job title to CFO last month.

Carter Peters, the company's former CFO, is now listed as a self-employed bank consultant, as of May, in his LinkedIn profile. Peters, who worked at Guaranty Bank for nearly 17 years, was not mentioned in the release about Harris’ promotion.

Reached via email this morning, Peters said he made the decision to exit the company.

"I’m confident I would’ve been offered a lesser role of some sort just like the rest of the executives," he said.

Peters said he now plans to "enjoy time away and see what I may want to do next, which may not be banking at all."

In a statement provided by Vice President of Marketing Carlye Wannenmacher, Guaranty officials said Peters "left to pursue other opportunities after Guaranty Bank’s acquisition by QCR Holdings Inc."

QCR in April finalized its $152 million acquisition of Guaranty Bank. With the deal, Guaranty merged its operations with that of Springfield First Community Bank, a company QCR purchased in 2018 for $90.7 million, according to past reporting. Guaranty Bank is the surviving name of the joint entity in the Springfield-area market.

New CFO Harris has been with Guaranty Bank since 1997. She's held a variety of roles, including branch manager, mortgage loan officer, internal auditor and teller, according to the release.

“Teri has a long-demonstrated history of working in the banking industry. She has done a tremendous job for Guaranty Bank in terms of financial reporting, budgeting, asset management, internal audit and risk management,” Guaranty CEO Monte McNew said in the release. “She has worked hard and developed her multifaceted expertise to prepare for the CFO position."

Shaun Burke, who previously was president and CEO of Guaranty Bank, is now president of the combined entity.

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