HEARTLAND BANC CORP - HLAN STOCK NEWS

Heartland BancCorp announced the opening of its nineteenth banking center in the Cincinnati market, located at 7755 Montgomery Road, Suite 180, set to open in late December 2022. This expansion marks the first in-state location outside Central Ohio and complements existing centers in Northern Kentucky. G. Scott McComb, the Company’s Chairman and CEO, highlighted the positive reception of their community banking model in the region. The expansion aligns with the bank's strategic growth initiatives in Greater Cincinnati.

Heartland BancCorp (OTCQX: HLAN) reported Q3 2022 net income of $5.1 million, or $2.50 per diluted share, up from $4.8 million a year ago. Year-to-date net income rose to $13 million, or $6.43 per share, compared to $13.6 million in the same period in 2021. The company declared a quarterly cash dividend of $0.69 per share, payable on January 10, 2023. Notable financial metrics include an expanded net interest margin of 4.20% and a 14.8% increase in net loans to $1.3 billion. Total assets grew by 8.3% to $1.58 billion, with a strong loan-to-deposit ratio of 96.4%.

Heartland BancCorp (OTCQX: HLAN) has announced plans to establish its nineteenth branch at 1754 Columbus Pike in Delaware, Ohio, with groundbreaking scheduled for mid-September 2022. The new branch will be designed as a universal model, featuring a night drop, drive-thru, and ATM. A community room will also be included for local gatherings. Construction is expected to take around twelve months, aiming for a late summer 2023 opening. Heartland Bank currently operates 18 branches and has been recognized as a top publicly traded community bank.

Heartland BancCorp (OTCQX: HLAN) reported a net income of $3.9 million, or $1.94 per diluted share, for Q2 2022, down from $4.2 million in Q2 2021. Year-to-date earnings reached $8.0 million. The company declared a quarterly cash dividend of $0.69 per share, payable on October 11, 2022. Loan portfolio growth was notable, with gross loans climbing 15.5% year-over-year, reaching $1.21 billion. The net interest margin expanded to 3.92%, despite a decline in noninterest income. Credit quality remained strong with nonperforming loans at 0.12%.

Heartland BancCorp (OTCQX: HLAN) announced the election of Ohio Lt. Governor Jon A. Husted to its Board of Directors, effective May 17, 2022. Husted brings extensive experience from his previous governmental roles, including Secretary of State and Speaker of the Ohio House. Chairman G. Scott McComb emphasized Husted's strategic decision-making skills, which will bolster the bank's growth in Ohio. Heartland BancCorp is the parent company of Heartland Bank, which operates 18 banking offices and offers a range of financial services.

Heartland BancCorp (OTCQX: HLAN) reported a net income of $4.0 million, or $1.99 per diluted share, for Q1 2022, down from $4.6 million a year prior. This decline reflects reduced interest from SBA Paycheck Protection Program (PPP) loans. The company declared a quarterly cash dividend of $0.69 per share, payable on July 10, 2022. Total assets decreased by 7.4% to $1.45 billion, mainly due to PPP loan forgiveness. Despite these challenges, core loan growth remains stable, with nonperforming assets decreasing to 0.09% of total assets.

Heartland BancCorp (OTCQX: HLAN) reported a net income of $5.0 million or $2.48 per diluted share for Q4 2021, down from $5.8 million or $2.87 per diluted share a year earlier. However, full-year net income rose to $18.6 million, up 25.9% from 2020. Net loans, excluding PPP loans, increased by $56.9 million (5.3%) on a linked quarter basis. The company declared a quarterly cash dividend of $0.69 per share, a 10% increase. The net interest margin improved to 3.86%, reflecting strong loan growth and better loan mix.