QCR Holdings Announces Leadership Transition and New Executive Employment Agreements

QCR Holdings, Inc. (NASDAQ: QCRH) announced a management succession plan in a recent SEC Form 8-K filing, detailing the upcoming retirement of CEO Larry J. Helling and the appointment of new executives effective immediately following the company’s annual stockholders’ meeting on May 22, 2025.

Under the plan, Mr. Helling will retire from the board of directors and his roles as Chief Executive Officer of QCR Holdings and of Cedar Rapids Bank and Trust Company. The transition will see current President, Chief Financial Officer, and director Todd A. Gipple assuming the role of Chief Executive Officer, while Nick W. Anderson is slated to become the Chief Financial Officer.

Mr. Gipple, who has served as CFO since 2000 and as COO from 2008 to 2023, will now transition to CEO at age 61. Mr. Anderson, age 49, who rejoined the Company in 2012 and has held the position of Senior Vice President and Chief Accounting Officer since 2019, will step into the CFO role.

In conjunction with the leadership transition, QCR Holdings entered into a transitional employment agreement with Mr. Helling on February 20, 2025. The agreement provides for an 18‐month non‐executive employment period during which Mr. Helling will serve as a part-time Special Advisor and receive compensation of $120,000 per year. He will also be eligible for COBRA continuation coverage under the Company’s group health plans.

Additionally, the Company finalized new employment agreements for Mr. Gipple and Mr. Anderson, effective on May 22, 2025, through December 31, 2027. The agreement for Mr. Gipple includes an annual base salary of $455,000 along with a performance-based annual incentive bonus opportunity target of 162.5% of his base salary. Mr. Anderson’s agreement outlines an annual base salary of $220,000 with a performance-based bonus target of 49% of his base salary. Both agreements also provide for one-time restricted stock unit grants, the possibility for automatic one-year extensions, and severance benefits in the event of termination under specified conditions.

A press release announcing these changes was issued on February 24, 2025, providing further details on the leadership succession and the new employment terms, which have been filed as exhibits to the Form 8-K.

This planned transition underscores QCR Holdings’ structured approach to leadership succession and its commitment to maintaining competitive and stable executive operations through clearly defined employment agreements and transitional measures.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read QCR’s 8K filing here.

QCR Company Profile

QCR Holdings, Inc, a multi-bank holding company, provides commercial and consumer banking, and trust and asset management services. The company’s deposit products include noninterest-bearing demand, interest-bearing demand, time, and brokered deposits. It also provides various commercial and retail lending/leasing, and investment services to corporations, partnerships, individuals, and government agencies.