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EXHIBIT 99.1
QUAD CITY HOLDINGS, INC.
3551 7TH STREET
MOLINE, ILLINOIS 61265
APRIL 5, 2000
FOR MORE INFORMATION CONTACT:
DOUG HULTQUIST AT (309) 736-3580
MIKE BAUER AT (319) 344-0600
TODD GIPPLE AT (309) 736-3580
FOR IMMEDIATE RELEASE
QUAD CITY HOLDINGS, INC. ANNOUNCES STOCK REPURCHASE PROGRAM
MOLINE, ILLINOIS - Douglas Hultquist, the President and Chief Executive
Officer of Quad City Holdings, Inc. (Nasdaq: QCHI), the holding company for
Quad City Bank and Trust Company, announced today that the Company's board of
directors approved a stock repurchase program enabling the Company to
repurchase up to 60,000 shares of its outstanding stock. It is anticipated
that these purchases will be made in the open market and/or through privately
negotiated transactions. As of March 31, 2000 there were approximately
2,325,000 shares of common stock outstanding.
"The Company's board of directors continues to believe that the
Company's stock is undervalued by the market and the board decided to take
advantage of this opportunity to capture some of this value for our
continuing stockholders," Mr. Hultquist explained.
Quad City Holdings, Inc. is a community based banking organization which
serves the Quad City area with locations in Bettendorf and Davenport, Iowa
and Moline, Illinois.
