Heartland Q4 2020 Earnings
HEARTLAND FINANCIAL USA, INC. REPORTS ANNUAL EARNINGS AND FOURTH QUARTER RESULTS AS OF DECEMBER 31, 2020
Highlights
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Quarter Ended |
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Year Ended December 31, |
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2020 |
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2019 |
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2020 |
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2019 |
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Net income available to common stockholders (in millions) |
$ |
37.8 |
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$ |
37.9 |
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$ |
133.5 |
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$ |
149.1 |
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Diluted earnings per common share |
0.98 |
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1.03 |
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3.57 |
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4.14 |
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Return on average assets |
0.92 |
% |
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1.17 |
% |
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0.90 |
% |
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1.24 |
% |
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Return on average common equity |
8.50 |
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9.56 |
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8.06 |
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10.12 |
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Return on average tangible common equity (non-GAAP)(1) |
12.77 |
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14.65 |
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12.28 |
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15.73 |
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Net interest margin |
3.51 |
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3.86 |
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3.65 |
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4.00 |
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Net interest margin, fully tax-equivalent (non-GAAP)(1) |
3.55 |
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3.90 |
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3.69 |
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4.04 |
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Efficiency ratio, fully-tax equivalent (non-GAAP)(1) |
54.93 |
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60.31 |
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56.65 |
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62.50 |
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(1) Refer to "Non-GAAP Measures" in this earnings release for additional information on the usage and presentation of these non-GAAP measures, and refer to the financial tables for reconciliations to the most directly comparable GAAP measures. |
"Heartland successfully navigated a challenging year with net income available to common stockholders of $133.5 million, or $3.57 per diluted common share. Our success was highlighted by an improved efficiency ratio of 56.65%, strong net interest margin of 3.69% and stable credit quality." |
Bruce K. Lee, president and chief executive officer, Heartland Financial USA, Inc. |
Dubuque, Iowa, Monday, January 25, 2021-Heartland Financial USA, Inc. (NASDAQ: HTLF) today reported the following results for the quarter ended December 31, 2020 compared to the quarter ended December 31, 2019:
- Net income available to common stockholders of $37.8 million, or $0.98 per diluted common share compared to $37.9 million, or $1.03 per diluted common share.