Extracting a block of text from a large block of text

Bad idea to parse on "semicolons" (I think you mean colons).

Colons can be part of the data as in "11:30AM".

The way to do this is with script using regular expressions. Additionally using formulas will wastefully recompute what should be a one time parsing.

CORRECTION: QuickBase probably does not recompute formulas where the inputs do not change.

I  put this on my to do list.