Quad City Bank & Trust Announces Sale of Credit Card Division
MOLINE, Ill., Jan. 31, 2013 (GLOBE NEWSWIRE) -- John Anderson, President and
CEO of Quad City Bank & Trust, announced the sale of its credit card portfolio
and servicing to Fifth Third Bank. Fifth Third Bank is a well- respected
vendor of cardholder services that will allow Quad City Bank & Trust the
opportunity to enhance credit card product offerings to their bank clients.
"We believe we have found a partner in Fifth Third Bank that understands and
believes in the delivery of relationship banking that is core to our Quad City
Bank & Trust brand," stated John Anderson. "Quad City Bank & Trust is pleased
to be able to offer new credit card products and services not only to our
local Quad Cities based clients, but to our agent (correspondent) banks as
Paul Siegfried, Vice President, Credit Card, Fifth Third Bank, added, "Fifth
Third Bank is excited about the opportunity to work with Quad City Bank &
Trust. We are proud to partner with an organization that places such a high
emphasis on building relationships in the communities they serve while
delivering on the promise of providing exceptional customer service and
superior products. We feel that our shared focus on providing positive
customer experiences in the local community will enable us to build and
maintain a mutually beneficial and long lasting relationship."
Fifth Third has participated in the agent bank credit card issuer business for
many years and currently partners with and issues credit cards for more than
70 financial institutions across the country.
ABOUT QUAD CITY BANK & TRUST:The mission of Quad City Bank & Trust is to be
the most customer-focused financial institution in the Quad Cities. Quad City
Bank & Trust is a local bank with over $1.1 billion in assets and is
headquartered in Bettendorf, IA. The bank employs 150 individuals in five Quad
City-area locations, providing full service commercial and consumer banking,
trust and asset management services. Visit www.qcbt.com for more information.
ABOUT FIFTH THIRD: Fifth Third Bancorp is a diversified financial services
company headquartered inCincinnati, Ohio. The Company has $122 billion in
assets and operates 15 affiliates with 1,324 full-service Banking Centers,
including 106 Bank Mart® locations open seven days a week inside select
grocery stores and 2,410 ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois,
Florida, Tennessee, West Virginia, Pennsylvania, Missouri, Georgia and North
Carolina. Fifth Third operates four main businesses: Commercial Banking,
Branch Banking, Consumer Lending, and Investment Advisors.Fifth Third also
has a 33% interest in Vantiv Holding, LLC. Investor information and press
releases can be viewed at www.53.com. Fifth Third's common stock is traded on
the NASDAQ® National Global Select Market under the symbol "FITB."
CONTACT: For More Information Contact:
Quad City Bank & Trust
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