HEARTLAND FINANCIAL USA : "HTLF") REPORTS QUARTERLY AND YEAR TO...
October 25, 2021 at 04:15 pm EDT
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Q3-21 Earnings
HEARTLAND FINANCIAL USA, INC. ("HTLF") REPORTS QUARTERLY AND YEAR TO DATE RESULTS AS OF SEPTEMBER 30, 2021
Monday, October 25, 2021
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Quarterly net income available to common stockholders of $53.9 million compared to $45.5 million for the third quarter of 2020, an increase of $8.4 million or 18%
Year to date net income available to common stockholders of $164.3 million compared to $95.7 million for the nine months ended September 30, 2020, an increase of $68.6 million or 72%
Quarterly loan growth of $262.8 million or 11% annualized, exclusive of Paycheck Protection Program ("PPP") loans
Net recoveries on previously charged off loans of $1.3 million, nonperforming assets to total assets declined to 0.46%, and 30-89 day loan delinquencies fell to 0.12% of total loans for the third quarter of 2021
PPP loan forgiveness received of $419.9 million during the third quarter of 2021
Completed offering of $150.0 million of subordinated notes with net proceeds totaling $147.6 million and fixed-to-floating interest rate set at 2.75% for the first five years
Announced an 8% increase in the regular quarterly dividend to $0.27 per common share
Quarter Ended
September 30,
Nine Months Ended
September 30,
2021
2020
2021
2020
Net income available to common stockholders (in millions)
$
53.9
$
45.5
$
164.3
$
95.7
Diluted earnings per common share
1.27
1.23
3.88
2.59
Return on average assets
1.19
%
1.26
%
1.25
%
0.92
%
Return on average common equity
10.32
10.90
10.95
7.90
Return on average tangible common equity (non-GAAP)(1)
15.14
16.11
16.34
12.10
Net interest margin
3.30
3.51
3.37
3.70
Net interest margin, fully tax-equivalent (non-GAAP)(1)
Heartland Financial USA Inc. published this content on 25 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 October 2021 20:13:25 UTC.
Heartland Financial USA, Inc. is a bank holding company. The Company conducts its banking business through multiple independently branded divisions in the states of Arizona, California, Colorado, Illinois, Iowa, Kansas, Minnesota, Missouri, Montana, New Mexico, Texas, and Wisconsin. The principal business of its Banks consists of making loans to and accepting deposits. Its Banks provide a range of commercial, small business and consumer banking services to businesses, including public sector and non-profit entities, and to individuals. It provides multiple service delivery channels, including online banking, mobile/remote banking, and telephone banking. Its Banks provide a suite of banking products and services comprised of deposit and credit offerings, with treasury management, wealth management and retirement plan services. Its primary lines of business include commercial banking, small business banking, agricultural banking, residential real estate mortgage lending, and others.
HEARTLAND FINANCIAL USA, INC. 
