QCR Holdings, Inc. announced that it has completed private placements of $100 million in aggregate principal amount subordinated notes. The private placements were issued in two separate tranches consisting of $45 million in aggregate principal amount of Fixed-to-Floating Rate Subordinated Notes due September 2032 (the 2032 Notes) and $55 million in aggregate principal amount of Fixed-to-Floating Subordinated Notes due September 2037 (the 2037 Notes). The 2032 Notes will bear interest at a fixed rate of 5.50% per year from, and including, August 18, 2022 to, but excluding, September 1, 2027, and from, and including, September 1, 2027 to, but excluding, September 1, 2032 (or earlier redemption date) the interest rate will reset quarterly to a floating rate, which is expected to be the then current three-month term SOFR plus 279 basis points.

The 2032 Notes are redeemable by the Company, in whole or in part, on or after September 1, 2027, and at any time upon the occurrence of certain events. The 2037 Notes will bear interest at a fixed rate of 5.95% per year from, and including, August 18, 2022 to, but excluding, September 1, 2032, and from, and including September 1, 2037 to, but excluding, September 1, 2037 (or earlier redemption date) the interest rate will reset quarterly to a floating rate, which is expected to be the then current three-month term SOFR plus 300 basis points. The 2037 Notes are redeemable by the Company, in whole or in part, on or after September 1, 2032, and at any time upon the occurrence of certain events.