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Heartland Financial USA, Inc. Reports Second Quarter 2010 Earnings
Second Quarter 2010 Highlights
- Net income of $5.1 million for the quarter
- Net interest margin of 4.09% for the quarter
- Net interest income increased $3.4 million or 11% over the second quarter of 2009
- Nonperforming assets not covered by loss share agreements increased $10.9 million during the quarter to $118.0 million
- Allowance for loan and lease losses increased during the quarter from 1.96% to 2.03% of total loans and leases
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