Monte McNew
About Monte McNew
Monte C. McNew (age 52) is Chief Executive Officer of Guaranty Bank, a QCR Holdings subsidiary. He was appointed CEO in April 2022 after serving as CEO/President since February 2021, President since 2018, and EVP, Commercial Lending since 2014 . Under company-level performance in 2024, QCR reported record net income of $113.9 million with diluted EPS of $6.71, and a $100 investment’s value rose to $188, framing a strong backdrop for subsidiary leaders like McNew . Guaranty Bank’s 2024 metrics used in McNew’s incentive plan included net income of $26.1M, noninterest income of $18.7M, core deposit growth of $60.4M, and NPAs/Assets of 0.51% .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Guaranty Bank (QCRH) | Chief Executive Officer | Apr 2022–present | Leads southwest Missouri franchise; accountable for net income, deposits, credit quality and noninterest income |
| Guaranty Bank / Springfield First Community Bank | CEO & President | Feb 2021–Apr 2022 | Oversaw transition and performance integration pre-/post-merger |
| Springfield First Community Bank | President | 2018–2021 | Led growth and operations, elevated to CEO/President |
| Springfield First Community Bank | EVP, Commercial Lending | 2014–2018 | Drove commercial production and portfolio management |
External Roles
No external directorships or outside roles disclosed for McNew .
Fixed Compensation
- Base salary progression reflects modest increases aligned with responsibilities and peer benchmarks .
| Metric | 2022 | 2023 | 2024 | 2025 (set) |
|---|---|---|---|---|
| Base Salary ($) | $254,592 | $265,412 | $274,038 | $282,808 |
| YoY Change | — | +4.3% (vs 2022) | +3.3% (vs 2023) | +3.2% (vs 2024) |
| Target Annual Cash Bonus (% of Salary) | 45.0% | 45.0% | 45.0% | — |
| Threshold / Max Bonus (% of Salary) | 22.5% / 67.5% | 22.5% / 67.5% | 22.5% / 67.5% | — |
Performance Compensation
Annual Incentive – 2024 Outcomes
- Corporate QCR bonus-adjusted net income, Guaranty Bank entity goals, and risk/credit quality metrics drove payout. McNew’s annual bonus paid at 55.1% of base salary vs 45% target, reflecting overachievement on bank net income and noninterest income, while loan growth under-ran targets .
| Metric | Weight | Target | Actual | Payout Component |
|---|---|---|---|---|
| QCR bonus-adjusted net income | 25% | $109.9M | $118.6M | Above target |
| Guaranty Bank net income | 20% | $21.5M | $26.1M | Above max |
| Adjusted loan growth | 10% | $78.3M | $0.0M | Below threshold |
| Net new demand DDA | 12.5% | 250 | 311 | Above target |
| Core deposit growth | 12.5% | $101.0M | $60.4M | Below target |
| Noninterest income | 10% | $14.3M | $18.7M | Above max |
| NPAs / Total assets | 10% | 0.75% | 0.51% | Max performance |
| Total annual bonus (as % of salary) | — | 45.0% | 55.1% | Earned 55.1% |
Annual Incentive – 2023 Outcomes
| Metric | Weight | Target | Actual | Payout Component |
|---|---|---|---|---|
| QCR bonus-adjusted net income | 30% | $112.2M | $114.1M | Above target |
| Guaranty Bank net income | 25% | $25.8M | $25.3M | Near target |
| Core loan growth | 10% | $39.3M | $0.0M | Below threshold |
| Core deposit growth | 15% | $108.7M | $112.0M | Above target |
| Noninterest income | 10% | $13.4M | $17.9M | Above max |
| NPAs / Total assets | 10% | 0.75% | 0.36% | Max performance |
| Total annual bonus (as % of salary) | — | 45.0% | 46.3% | Earned 46.3% |
Equity Awards
- RSUs target 16% of salary; awarded 19.6% in 2024 with four-year ratable vesting; RSUs for NEOs may be settled in cash upon vesting, supporting alignment without forced selling .
| Metric | 2023 | 2024 |
|---|---|---|
| RSU grant as % of salary | 16.5% | 19.6% |
| Vesting | 4-year, equal annual (Mar 1 each year) | 4-year, equal annual (begins Mar 1, 2025) |
| Cash settlement feature | May be settled in cash (NEOs) | May be settled in cash (NEOs) |
Equity Ownership & Alignment
- Stock ownership guidelines for NEOs: 3,626 shares within three years; the company states all NEOs are in compliance . Anti-hedging and anti-pledging policies are in place; no hedging or unauthorized pledging reported .
| Beneficial Ownership (Mar 27, 2025) | Shares | % of Class | Notes |
|---|---|---|---|
| Monte C. McNew total | 6,243 | <1% | Includes 2,127 shares in 401(k) |
| Unvested RSUs (Dec 31, 2024) | Units | Market Value ($) at $80.64 |
|---|---|---|
| Grant 2021 | 573 | $46,308 |
| Grant 2022 | 466 | $37,578 |
| Grant 2023 | 621 | $50,077 |
| Grant 2024 | 769 | $62,012 |
| Total | 2,429 | $195,975 |
- 2024 vesting realized value: $57,642 on 1,015 shares vested .
Employment Terms
- Employment Agreement (April 2018): Non-compete and non-solicit for two years post-termination; disability benefit up to 66% of salary plus average bonus for one year; severance equals 200% of base salary and average annual bonus plus 18 months health insurance if terminated without cause or for good reason; same severance in lump sum if terminated within two years post-change-in-control .
- Company equity plans use double-trigger acceleration: awards vest upon change-in-control only if not assumed; otherwise vest on post-CIC termination without cause or resignation for good reason; death/disability also accelerate vesting .
| Potential Payments (as of Dec 31, 2024) | Involuntary Termination (no CIC) | Involuntary Termination (with CIC) | Disability | Death |
|---|---|---|---|---|
| Salary | $548,077 | $548,077 | $180,865 | — |
| Bonus | $256,211 | $256,211 | $84,550 | — |
| Stock award acceleration (value) | — | $195,875 | $195,875 | $195,875 |
| Health insurance | $44,523 | $44,523 | — | — |
- Clawback: Nasdaq-compliant policy adopted Aug 2023; recoup incentive comp upon restatement .
- Insider trading windows and pre-clearance; robust anti-hedging/pledging enforcement .
Compensation & Incentives Detail (Multi-Year)
| Component | 2022 | 2023 | 2024 |
|---|---|---|---|
| Salary ($) | $254,592 | $265,412 | $274,038 |
| Stock Awards ($) | $50,315 | $44,194 | $43,672 |
| Non-Equity Incentive ($) | $110,534 | $122,897 | $150,885 |
| All Other Compensation ($) | $56,857 | $52,201 | $62,639 |
| Total ($) | $472,298 | $484,704 | $531,234 |
| 2024 Perquisites (detail) | Amount ($) |
|---|---|
| Employer 401(k) contribution | $15,525 |
| Car allowance | $6,000 |
| Employer deferred comp contribution | $10,000 |
| Life insurance benefit | $18,631 |
| Country club membership | $12,483 |
| Deferred Compensation | 2023 | 2024 |
|---|---|---|
| Executive deferral | $24,324 | $12,290 |
| Company match | $10,000 | $10,000 |
| Interest floor/cap | 4.0%–8.0% | 4.0%–8.0% |
| Aggregate earnings (year) | $3,807 | $6,425 |
| Aggregate balance (YE) | $61,371 | $90,086 |
Governance & Alignment Factors
- Ownership guidelines: NEOs required to hold 3,626 shares; all NEOs are compliant, indicating skin-in-the-game alignment .
- Anti-hedging and anti-pledging enforced; no violations reported .
- Say-on-pay support: 96% approval in 2024 and 97% in 2023, supporting the program’s pay-for-performance design .
- Compensation peer group and consultant (FW Cook) inform market alignment and structure .
Investment Implications
- Pay-for-performance alignment: McNew’s 2024 bonus (55.1% of salary) exceeded target due to strong net income and noninterest income, even as loan growth lagged; equity is multi-year with double-trigger CIC protection and potential cash settlement at vest, reducing forced selling pressure .
- Retention risk: Two-year non-compete/non-solicit and severance at 200% of salary+bonus present a robust retention moat; change-in-control terms are shareholder-friendly (double-trigger), limiting windfalls and aligning with transaction continuity .
- Trading signals: Watch RSU vesting calendars (historically Mar 1 grants vest ratably) for potential liquidity events and compensation cash settlements; monitor Guaranty Bank deposit/noninterest income momentum vs loan growth to gauge future bonus outcomes and subsidiary performance sensitivity .
- Governance safeguards: Clawback, insider trading windows, and anti-hedging/pledging policies mitigate downside governance risks .
Overall, McNew’s incentive mix and ownership are aligned with QCR’s profitability and risk metrics. The bonus is sensitive to subsidiary net income, deposits, and credit quality, while RSUs create multi-year alignment and manageable vesting-related selling dynamics .