Michael Bauer, co-founder of QCR Holdings and Quad Cities Bank & Trust, is leaving the latter’s board.
Bauer helped form the Moline, Ill., holding company in 1993, securing its charter the next year. He led the bank for more than a decade, retiring as president and CEO of QCBT in 2007. He remained with Bettendorf, Iowa-based QCBT as a consultant and director through June of this year.
A native of Davenport, Iowa, Bauer began his banking career at Davenport Bank & Trust in 1971, serving in a variety of leadership roles until the company was acquired by Norwest Bank in 1991. He stayed with Norwest after the merger for a couple years before he partnered with Doug Hultquist to form QCR. Hultquist retired as president and CEO of the company in 2019.
“When it comes to serving our clients, Mike Bauer set the example and the standard we still uphold at our company today,” said QCBT CEO John Anderson. “It was, and still is, his vision for creating a community bank that would always put the community first that inspires us every day to be the people you can bank on in the Quad Cities.”
A graduate of the University of Idaho, Bauer was awarded the Modern Woodmen William B. Foster Award in 1998 in recognition of his community service. Along with Hultquist, he won the Ernst & Young Entrepreneur of the Year in 1998, and the pair was also inducted into the Junior Achievement Business Hall of Fame in 2002.
Since its founding, QCR has grown to more than $5.8 billion in total assets with four charters — three in Iowa and one in Missouri — as well as an equipment leasing division in Milwaukee.
The $2.1 billion QCBT also announced QCR Vice Chair Jim Field and QCBT President Laura “Divot” Ekizian joined the board.