Heartland Financial USA, Inc. - HTLF STOCK NEWS

HTLF announced quarterly dividends for both common and preferred stock. The company declared a common stock dividend of $0.30 per share, payable on November 26, 2024, to stockholders of record as of November 12, 2024. HTLF has maintained or increased its common stock dividend quarterly for over 40 years. Additionally, a Series E Preferred Stock dividend of $175 ($0.4375 per depositary share) was approved, payable January 15, 2025, to stockholders of record as of December 31, 2024.

Heartland Financial USA (NASDAQ: HTLF) announced its Q2 2024 results with a net income of $37.7M, or $0.88 per share, and adjusted earnings of $49.6M, or $1.15 per share. The report highlights $6.0M in acquisition costs and a $10.6M pre-tax loss from selling $108.4M in CRE securities to improve risk and liquidity.

The common equity ratio increased to 10.19%, and the tangible common equity ratio rose to 7.28%. The net interest margin improved to 3.73% from 3.57% in Q1, with an annual loan yield increase to 6.76% and deposit costs down to 2.08%. The sale of all Rocky Mountain Bank branches, expected to yield a $30M gain, closed in mid-July.

Compared to Q2 2023, net income fell by $9.7M, and EPS dropped by $0.23. However, adjusted earnings rose to $49.6M from $46.5M. Net interest income climbed to $158.7M, up by $11.6M. Notably, noninterest income fell by $14.3M due to increased security losses and decreased service charges. Noninterest expenses rose by $6.8M.

Heartland Financial USA, Inc. (NASDAQ: HTLF), operating as HTLF, has announced its latest dividend payments. The company's Board of Directors approved a quarterly cash dividend of $0.30 per share on common stock, payable on August 27, 2024, to stockholders of record as of August 13, 2024. Notably, HTLF has maintained or increased its common stock dividend every quarter for over 40 years.

Additionally, the Board approved a dividend of $175 for Series E Preferred Stock (NASDAQ: HTLFP), equating to $0.4375 per depositary share. This dividend will be paid on October 15, 2024, to stockholders of record as of September 30, 2024. These announcements demonstrate HTLF's commitment to providing consistent returns to its shareholders.

UMB Financial (Nasdaq: UMBF) has announced the acquisition of Heartland Financial USA, Inc. (Nasdaq: HTLF) in an all-stock transaction valued at $2.0 billion. This will increase UMB's total assets by more than 40% and expand its geographic footprint across 13 states. The deal, the largest in UMB's history, will create a regional banking powerhouse with $64.5 billion in assets, elevating it to the top 5% of publicly traded banks in the U.S. The transaction is expected to close in the first quarter of 2025.

Heartland Financial USA, Inc. (HTLF) reported a solid quarter with net income of $49.7 million, adjusted earnings of $52.4 million, and increased common equity and tangible common equity ratios. Key highlights include growth in customer deposits, decrease in wholesale deposits, and stable credit quality. The sale of Rocky Mountain Bank aligns with HTLF 3.0 strategic initiatives aimed at efficiency and growth. Financial metrics improved across interest margin, loan yield, and cost of deposits. Various noninterest income categories saw changes, while expenses also increased. Nonperforming assets decreased, and provisions for credit losses were adjusted. Overall, HTLF shows positive financial performance amid strategic changes.

UMB Financial (Nasdaq: UMBF) will acquire Heartland Financial USA, Inc. (Nasdaq: HTLF) in an all-stock transaction valued at about $2.0 billion, increasing UMB's assets by over 40%. This historic merger will create a regional banking powerhouse across 13 states, adding $19.4 billion in assets, $16.2 billion in total deposits, and $12.1 billion in total loans from HTLF. The deal elevates UMB to the top 5% of publicly traded banks in the U.S., with $64.5 billion in assets. Former HTLF stockholders will own approximately 31% of the combined company, and this acquisition will boost UMB's private wealth management's AUM/AUA by 31%.

Heartland Financial USA, Inc. (HTLF) has announced dividends for their Common Stock and Series E Preferred Stock. The Common Stock dividend is set at $0.30 per share, payable on May 28, 2024, while the Series E Preferred Stock dividend is $0.4375 per depositary share, payable on July 15, 2024. HTLF has a history of consistently increasing or maintaining its common stock dividend for over 40 years.

HTLF schedules first quarter earnings conference call for May 1, 2024, with President and CEO Bruce K. Lee and CFO Kevin L. Thompson conducting the call. Financial results will be available on the company's website after market close on the same day.

Heartland Financial USA, Inc. (HTLF) reported a net loss of ($72.4) million in Q4 2023, with adjusted earnings of $45.6 million. Loan growth and average customer deposits increased by 2%. The company's new strategic plan, HTLF 3.0, includes investment in growth, expansion of Treasury Management products, and creation of digital platforms. The charter consolidation initiative resulted in an expense of $1.3 million. Net interest margin improved by 34 basis points to 3.52%. Noninterest income decreased by $111.8 million, while noninterest expense increased by $13.1 million. Total assets decreased by 4%, and total deposits decreased by 5%. Customer demand deposits decreased by 6%, while customer savings deposits increased by 3%. Wholesale and institutional deposits decreased by 42%. Provision for credit losses for loans was $12.8 million.