Heartland Financial (HTLF) Tops Q4 EPS by 6c

Heartland Financial (NASDAQ: HTLF) reported Q4 EPS of $1.03, $0.06 better than the analyst estimate of $0.97.

Highlights

• Record annual net income available to common stockholders of $149.1 million, an increase of $32.2 million or 28% from $117.0 million for 2018
• Quarterly net income available to common stockholders of $37.9 million or $1.03 per diluted common share in comparison with $32.1 million or $0.93 per diluted common share for the fourth quarter of the prior year
• Net interest margin of 3.86%, fully tax-equivalent (non-GAAP)(1) of 3.90% for the fourth quarter of 2019
• Return on average common equity of 9.56% and return on average tangible common equity (non-GAAP)(1) of 14.65% for the fourth quarter of 2019
• Efficiency ratio (non-GAAP)(1) for the fourth quarter of 2019 of 60.69%
• Tangible common equity ratio (non-GAAP)(1) of 8.52% at December 31, 2019
• Organic commercial and commercial real estate loan growth of $96.8 million and organic non-time deposit growth of $225.0 million for the fourth quarter of 2019
• Completed the acquisition of substantially all of the assets and deposits and certain other liabilities of Rockford Bank and Trust Company

Bruce K. Lee, president and chief executive officer, Heartland Financial USA, Inc.

“We are pleased that we have advanced our goal to have two additional charters over $1 billion dollars in assets with the acquisitions in 2019 of Bank of Blue Valley and Rockford Bank & Trust," commented Lynn B. Fuller, Heartland's executive operating chairman.

For earnings history and earnings-related data on Heartland Financial (HTLF) click here.

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