Heartland Financial USA, Inc. Depositary Shares, each representing a 1/400th ownership interest in a share of 7.00% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series E - HTLFP STOCK NEWS

Heartland Financial USA, Inc. (NASDAQ: HTLF) reported quarterly net income of $46.1 million, a decrease of 16% compared to the same period last year. Diluted earnings per common share were $1.08, down 16%. Loan growth was $154.5 million or 1%, and total customer deposit growth was $152.3 million or 1%. Nonperforming assets and 30-89 day loan delinquencies remained unchanged at 0.33% and 0.12%, respectively. Nonperforming loans decreased to 0.44% from 0.54% in the previous quarter. The company completed the consolidation of two bank charters and expects total consolidation restructuring costs to be $18-$19 million.

HTLF announces quarterly cash dividend on common stock and dividend for Series E Preferred Stock

HTLF to host conference call for Q3 2023 financial results

Heartland Financial USA, Inc. (NASDAQ: HTLF) reported quarterly net income of $47.4 million and diluted earnings per share of $1.11. Total revenue grew by 1% to $179.6 million. The company experienced loan growth and opened new deposit accounts. They also completed the consolidation of two bank charters. For the six months ended June 30, 2023, net income increased by 8% to $98.2 million. Earnings per diluted share increased by 7% to $2.30. Total revenue increased by 5% to $361.8 million.

HTLF announces quarterly cash dividend on common stock and preferred stock

HTLF to host conference call for Q2 2023 financial results on July 31, 2023

Heartland Financial USA, Inc. (NASDAQ: HTLF) reported a strong performance for Q1 2023, with net income rising to $50.8 million, a 24% increase from $41.1 million in Q1 2022. Earnings per diluted share also improved to $1.19, up 23%. The bank maintained a common equity tier 1 ratio of 11.28%, significantly above the well-capitalized requirement of 6.50%. However, total customer deposits fell 4%, decreasing by $618.2 million. The bank's net interest income increased by 13% to $152.2 million and the efficiency ratio improved to 57.16%. Recent charter consolidations are expected to yield $20 million in annual benefits, although restructuring costs are projected at $19-$20 million.

Heartland Financial USA, Inc. (NASDAQ: HTLF) has announced a quarterly cash dividend of $0.30 per share on its common stock, payable on May 26, 2023. Stockholders must be on record by the close of business on May 12, 2023. The company has 42,558,726 common shares outstanding as of March 31, 2023.

Additionally, a dividend of $175 for Series E Preferred Stock (NASDAQ: HTLFP), equating to $0.4375 per depositary share, has been approved. This dividend will be payable on July 17, 2023, to stockholders of record by June 30, 2023.

Heartland Financial, based in Denver, has assets totaling $20.2 billion as of December 31, 2022, serving multiple states with a diversified range of financial services.

HTLF (NASDAQ: HTLF) announced a conference call scheduled for April 24, 2023, at 5 p.m. ET to discuss its first quarter 2023 financial results, led by President and CEO Bruce K. Lee and CFO Bryan R. McKeag. The financial results will be available on the company’s website post-market close on the same day.

Participants can join the call via phone or webcast, with registration details provided in the press release. HTLF operates with $20.2 billion in assets as of December 31, 2022, serving various U.S. states and offering a range of financial services.