Heartland Financial Commercial Card Volume Up, Nationally Ranked Fifth Year in a Row

Monday, June 29, 2020

Dubuque, Iowa, June 29, 2020 — Heartland Financial USA, Inc. (NASDAQ: HTLF) announced today that for the fifth year in a row, it has been ranked among the top U.S. commercial credit card issuers for purchase volume growth.

The Nilson Report ranked Heartland’s commercial credit card program among the top 35 Purchasing Card programs, with over $453 million in purchasing card volume in 2019, a growth of 53.9 percent over the previous year. The Nilson Report is a leading publication covering payment systems worldwide for 50 years. Earlier this year, Heartland Financial USA, Inc. was also named by Forbes as the 40th best bank in America.

“The growth we have seen in our credit card purchasing volume over the past few years is a result of our commitment to providing the best-in-class technology and personalized service for our customers. Today, more than ever, we understand the importance for our clients to manage cash flow, maintain relationships with vendors, and negotiate favorable terms,” said Nicole Tipton, Director of Strategy and Product Development. “We are committed to continuing to innovate to meet business’s needs, and we look forward to introducing new solutions such as contactless cards and Integrated Payables later this year – another way we are helping our clients maximize their accounts payable department.”

Even before the pandemic, the Association of Financial Professionals 2019 Electronic Payments Survey shared that 47 percent of companies surveyed said “Cost Savings” is a top benefit of sending electronic payments, and 53 percent of companies surveyed said “Speed of Settlement” is a top benefit of receiving electronic payments. With this method of payment rapidly becoming more common, Heartland and its member banks are helping clients reduce operating costs, increase fraud protection and provide more streamlined payments processes.

About Heartland Financial USA, Inc.

Heartland Financial USA, Inc. is a diversified financial services company with assets of $13.2 billion. The company provides banking, mortgage, private client, investment and insurance services to individuals and businesses. Heartland currently has 114 banking locations serving 83 communities in Iowa, Illinois, Wisconsin, New Mexico, Arizona, Montana, Colorado, Minnesota, Kansas, Missouri, Texas and California. Additional information about Heartland Financial USA, Inc. is available at www.htlf.com.

Safe Harbor Statement

This release, and future oral and written statements of Heartland and its management, may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 about Heartland’s financial condition, results of operations, plans, objectives, future performance and business. Although these forward-looking statements are based upon the beliefs, expectations and assumptions of Heartland’s management, there are a number of factors, many of which are beyond the ability of management to control or predict, that could cause actual results to differ materially from those in its forward-looking statements. These factors, which are detailed in the risk factors included in Heartland’s Annual Report on Form 10-K filed with the Securities and Exchange Commission, include, among others: (i) the strength of the local and national economy; (ii) the economic impact of past and any future terrorist threats and attacks and any acts of war, (iii) changes in state and federal laws, regulations and governmental policies concerning the Company’s general business; (iv) changes in interest rates and prepayment rates of the Company’s assets; (v) increased competition in the financial services sector and the inability to attract new customers; (vi) changes in technology and the ability to develop and maintain secure and reliable electronic systems; (vii) the loss of key executives or employees; (viii) changes in consumer spending; (ix) unexpected results of acquisitions; (x) unexpected outcomes of existing or new litigation involving the Company; and (xi) changes in accounting policies and practices. All statements in this release, including forward-looking statements, speak only as of the date they are made, and Heartland undertakes no obligation to update any statement in light of new information or future events.