WATERLOO, IOWA - November 2, 2026 – BankIowa and Community Bank & Trust (CBT) announced plans for CBT’s three Cedar Valley branch locations to join BankIowa, marking a new chapter for community banking in the Cedar Valley. Cedar Rapids Bank & Trust Company, a subsidiary of QCR Holdings, Inc. (Nasdaq: QCRH), has entered into a definitive agreement for BankIowa to purchase its CBT division, including its two branches in Waterloo and one in Cedar Falls.

The transaction is anticipated to close during the first quarter of 2027, subject to customary closing conditions and regulatory approvals.

Clients of Community Bank & Trust will continue to be served through their existing CBT branch locations until March 1, 2027.  Additional information from BankIowa will be communicated to clients regarding account and service transitions prior to the transition.

“We are excited to welcome clients to BankIowa,” said Alison Urbina, President and CEO of BankIowa. “This transaction strengthens our presence in the Cedar Valley market and aligns with our commitment to deliver exceptional service and support to the individuals, families, and businesses in the area.”

“As someone who lives and works right here in the Cedar Valley, I couldn’t be more excited about bringing these two community-minded banks together,” said Luke Lesyshen, Cedar Valley Market President of BankIowa. “Our top priority throughout this transition is ensuring a seamless experience for CBT clients as they join BankIowa as well as continuing to deliver a high level of service to our existing BankIowa customers.”

BankIowa established office locations in the Cedar Valley in the late 1990s and currently has two offices in Waterloo and one in Cedar Falls. BankIowa’s employees are active in the Cedar Valley through volunteerism and involvement in community organizations.

With the new acquisition, BankIowa will remain focused on providing outstanding client service with its local decision-making and relationship banking, offering competitive consumer, investment, trust, and agriculture and commercial banking services.

About BankIowa

BankIowa is a full-service community bank founded in Independence, Iowa in 1921. Its foundations of Hometown Heritage, Commitment to Community, and Legacy of Leadership underpin its mission ‘Your Financial Future…Our Professional Passion.’ BankIowa proudly serves communities in Amana, Cedar Falls, Cedar Rapids, Independence, Jesup, Lamont, Marion, Norway, Rowley, and Waterloo. According to Bauer Financial Inc, BankIowa is designated an Exceptional Performance Bank by maintaining a 5-Star rating continuously for more than 10 years. For more information, visit BankIowa.com.

About Community Bank & Trust

Community Bank & Trust provides full-relationship commercial and consumer banking and trust and asset management services with three convenient locations across the Cedar Valley market. CBT was recently recognized as the 2025 Business of the Year by Grow Cedar Valley and as a Best of the Best 2026 award winner in the Best Bank and Financial/Investment categories by The Courier.