Heartland Financial USA, Inc. - HTLF STOCK NEWS

Heartland Financial USA, Inc. (NASDAQ: HTLF) has announced a public offering of $150 million in 2.75% Fixed-to-Floating Rate Subordinated Notes due 2031, expected to close by September 8, 2021, under the sole management of Piper Sandler & Co. The proceeds will support organic growth, strategic acquisitions, and retiring higher interest debt. Notably, HTLF aims to pay off a $21.25 million note with an existing 5.425% interest rate. The notes offering will comply with SEC requirements and will not be available in jurisdictions where it’s unlawful.

Heartland Financial USA (HTLF) has been recognized among the top U.S. commercial credit card issuers for the sixth consecutive year, according to the Nilson Report. In 2020, HTLF achieved a purchasing card volume exceeding $548 million, marking a 21% increase from the prior year, with the fourth highest growth rate overall. The company focuses on enhancing digital payment solutions, such as Integrated Payables and Visa Commercial Pay, to improve customer cash flow and reduce operational costs. HTLF also rebranded in 2021 and was named one of America's best banks by Forbes.

HTLF announced the appointment of Joe Wheeler as the new Director of Customer Experience. Wheeler will be tasked with enhancing customer experience across all channels, aiming to boost customer retention and growth. With extensive experience in the financial services sector, including a pivotal role at J.D. Powers, Wheeler is expected to leverage his expertise to improve customer satisfaction. HTLF, with assets of $18.37 billion, operates banks across multiple states and offers a wide range of financial services.

Heartland Financial reported robust financial performance for Q2 2021, with net income of $59.6 million, a 98% increase year-over-year. Diluted earnings per share rose 72% to $1.41. Loan growth reached $287.7 million, excluding PPP loans, while non-time deposit growth was $133.3 million. The company declared a 14% dividend increase to $0.25 per share. Credit quality improved, with a 0.12% net charge-off ratio. Total assets at $18.37 billion reflect 3% growth since year-end 2020.

Heartland Financial USA, Inc. (NASDAQ: HTLFP) declared a dividend of $175.00 per share on its Series E Preferred Stock, equating to $0.4375 per depositary share. This dividend is for stockholders of record on September 30, 2021, with a payment date of October 15, 2021.

Heartland boasts assets totaling $18.2 billion and operates banking services across many states including Arizona, California, and Texas. The company emphasizes a strong commitment to its commercial business and diversified financial services.

Heartland Financial USA, Inc. (NASDAQ: HTLF) has announced a 14% increase in its quarterly cash dividend, raising it to $0.25 per share. This dividend will be paid on August 30, 2021, to stockholders on record as of August 16, 2021. With approximately 42.2 million common shares outstanding, this decision reflects the company's commitment to returning value to its shareholders. Heartland has assets totaling $18.2 billion and operates in several states across the U.S., providing a diverse range of financial services.

Heartland Financial USA, Inc. (NASDAQ: HTLF) will host a conference call on July 26, 2021, at 5:00 p.m. ET to discuss its Second Quarter 2021 earnings. The call will feature Executive Operating Chairman Lynn B. Fuller, President and CEO Bruce K. Lee, and CFO Bryan R. McKeag. Financial results will be available on the company’s website after market close on the same day. Interested parties must register in advance to obtain access details. Heartland operates with assets of approximately $18.2 billion and offers a diverse range of financial services across multiple states.

Heartland Financial USA, operating as HTLF, announced Kathryn Graves Unger as an independent director on its Board following the annual shareholder meeting on May 19, 2021. With over 20 years of business and government relations experience, her leadership is expected to enhance the Board's effectiveness. Currently a Vice President at Cargill, Unger has also held positions at Cummins and is a certified public accountant. HTLF, with $18.2 billion in assets, offers a range of financial services across multiple states, focusing on core commercial banking and retail operations.

HTLF reported a record net income of $50.8 million for Q1 2021, a 153% increase from $20.0 million in Q1 2020. Diluted earnings per share rose to $1.20, up 122% year-over-year. The company's net interest income also surged to $139.6 million, a 24% increase from the prior year. Key metrics include an annualized net charge-off ratio of 0.06% and nonperforming assets at 0.54%.

HTLF's efficiency ratio improved to 56.61% from 61.82% year-over-year, reflecting enhanced operational performance.