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Heartland BancCorp Announces Higher First Quarter 2014 Earnings15-Apr-2014

G. Scott McComb, Chairman and CEO of Heartland BancCorp, parent company of Heartland Bank, today reported first quarter 2014 net income of $1.234 mill..

William J. Schottenstein elected to the Board of Directors of Heartland Bank09-Apr-2014

G. Scott McComb, Chairman, President and CEO of Heartland Bank announced today that William J. Schottenstein was elected to the Board of Directors..

Columbus Business First: Heartland Bank stepping into limelight: Q&A with CEO Scott McComb20-Mar-2014

Mar 19, 2014, 12:00pm EDT Heartland Bank always has aimed to be the friendly neighborhood bank, and CEO Scott McComb (http://www.bizjournals.com/..

Heartland Bank’s Downtown Columbus Branch Opens This Week31-Jan-2014

Gahanna, Ohio – G. Scott McComb, Chairman, President and CEO of Heartland Bank is pleased to announce that the recently purchased 101 South ..

Heartland Bank to Accept Franklin County Property Tax Payments11-Dec-2013

Gahanna, Ohio - Scott McComb, Chairman, President and CEO of Heartland Bank, in partnership with the Franklin County Treasurer’s Office, is ..

Columbus Business First: Heartland Bank CEO remains hopeful despite industry’s mortgage slump12-Nov-2013

by Evan Weese, Columbus Business First. Banks in the second half of 2013 have grappled with how best to generate mortgage banking income ..

Heartland Bank teams up with Columbus Crew28-Oct-2013

Gahanna, Ohio – Scott McComb, Chairman, President and CEO of Heartland Bank, today announced an exciting partnership with central Ohio&rsqu..

Pennies to Dollars to Help Johnstown-Northridge Community Food Pantry28-Oct-2013

Heartland Bank is proud to support the Johnstown-Northridge Community Food Pantry. To learn more and see how you can support this great cause, p..

Heartland BancCorp Announces Higher 3rd Quarter 2013 Earnings: Directors Increase Dividend17-Oct-2013

Gahanna, Ohio - Scott McComb, Chairman & CEO of Heartland BancCorp, parent company of Heartland Bank, today reported a 2% increase in third quarte..

Pennies to Dollars to Help Glenwood Center for Early Child Development11-Sep-2013

Heartland Bank is proud to support the Glenwood Center for Early Child Development. To learn more and see how you can support this great cause, ..

Hampton Inn construction kicks off after financing finalized with Heartland Bank - Business First20-Aug-2013

Columbus hotel investor and operator David Patel has completed financing on a 152-room Hampton Inn & Suites and wasted no time in getting construc..

Pennies to Dollars to Help Reynoldsburg Church of the Nazarene20-Aug-2013

Heartland Bank is proud to support the Reynoldsburg Church of the Nazarene. To learn more and see how you can support this great cause, please..

Heartland Bank Receives 2013 WWR Outstanding Community Partner Award14-Aug-2013

August 13, 2013, Gahanna, Ohio – Weltman, Weinberg & Reis Co., LPA (WWR) presented Heartland Bank of Gahanna, Ohio with the annual 2013..

Heartland BancCorp Announces 2nd Quarter and Year-To-Date 2013 Earnings17-Jul-2013

Gahanna, Ohio - Scott McComb, Chairman & CEO of Heartland BancCorp, parent company of Heartland Bank, today reported earnings for the 2nd quarter ..

Heartland Bank to serve as Presenting Sponsor of 40th annual Westerville Music & Arts Festival05-Jun-2013

Gahanna, Ohio – June 4, 2013 Heartland Bank is proud to announce their support of the 40th annual Westerville Area Chamber of Commerce Music &am..

Heartland BancCorp Ranks 62nd in American Banker Magazine Top 200 Community Banks in the Nation08-May-2013

GAHANNA, OHIO – May 8, 2013….Leading business management publication American Banker Magazine has just released its annual list of th..

Pennies to Dollars to Help Gahanna Animal Hospital08-May-2013

Heartland Bank is proud to support the Gahanna Animal Hospital. To learn more and see how you can support this great cause, please feel free t..

Heartland BancCorp Announces 1st Quarter 2013 Earnings 15-Apr-2013

G. Scott McComb, Chairman and CEO of Heartland BancCorp, parent company of Heartland Bank, today reported 1st quarter 2013 net income of $1.091 millio..

Pennies to Dollars to Help the Licking County Humane Society15-Apr-2013

Heartland Bank is proud to support the Licking County Humane Society. To learn more and see how you can support this great cause, please feel ..

Over 300 Registered for Heartland Bank’s 6th Annual Money Matters Free Financial Summit11-Mar-2013

GAHANNA, OH – March 11, 2013 – Continuing the tradition of being a financial solutions resource, Heartland Bank was proud to present t..

A Man’s Dream Comes True22-Feb-2013

Gahanna, Ohio – February 21, 2013 – G. Scott McComb, Chairman, President & CEO of Heartland Bank is pleased to announce a partners..

Heartland Bank Reinvests in Downtown Columbus08-Feb-2013

February 7, 2013 - Gahanna, Ohio – G. Scott McComb, Chairman, President & CEO of Heartland Bank is pleased to announce Heartland Bank&rs..

Heartland BancCorp Announces 2012 Earnings22-Jan-2013

Gahanna, Ohio – G. Scott McComb, Chairman & CEO of Heartland BancCorp, parent company of Heartland Bank, today announced 2012 earnings. ..

Early Dividend Payout to Heartland BancCorp Shareholders29-Nov-2012

GAHANNA, OHIO – November 29, 2012 - G. Scott McComb, Chairman & CEO of Heartland BancCorp, parent company of Heartland Bank announced at..

Gerald McClain Family Honored During Heartland Bank’s Newark Office Grand Opening Celebration13-Nov-2012

GAHANNA, OHIO – November 13, 2012 … Over 150 people were in attendance at the Grand Opening Celebration and Ribbon Cutting Ceremony of He..

Heartland BancCorp Announces: Higher 3rd Quarter and Year-to-Date 2012 Earnings11-Oct-2012

Gahanna, Ohio – October 11, 2012 - G. Scott McComb, Chairman & CEO of Heartland BancCorp, parent company of Heartland Bank, today report..


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Heartland BancCorp Announces Record 2010 4th Quarter and Full Year Earnings...

Heartland BancCorp Announces Record 2010 4th Quarter and Full Year Earnings...

25-Jan-2011

Heartland BancCorp Announces Record 2010 4th Quarter and Full Year Earnings Directors Declare Cash Dividend


For Immediate Release: January 25, 2011 – 12:00 noon

Contact: 
Tiney M. McComb - Chairman & CEO or
                  G. Scott McComb - Vice Chairman & President

Phone:      614-337-4600

Tiney M. McComb, Chairman and CEO of Heartland BancCorp, parent company of Heartland Bank, today announced record 4th quarter and full year 2010 earnings.

Earnings for the 4th quarter ended December 31, 2010 totaled $1.275 million or $0.82 per share compared to earnings of $1.048 million or $0.68 per share for the 4th quarter of 2009.  Net interest income before the provision for loan loss was $5.151 million, an improvement of 4% over the 4th quarter of 2009 net interest income of $4.977 million.  Net interest income after the provision for loan loss totaled $4.626 million for the fourth quarter 2010 up 6% from $4.377 million for the prior year 4th quarter.  Non-interest income for the 4th quarter of 2010 was $817 thousand, up 3% compared to $791 thousand for the same period in 2009.  Non-interest expense was $3.709 million for the 4th quarter 2010 substantially unchanged from the prior year’s 4th quarter.

Net income for the year ended December 31, 2010 was $4.570 million or $2.96 per share compared to earnings of $3.592 million or $2.32 per share for the year ended December 31, 2009.  Net interest income before provision for loan loss for 2010 grew 8% to $20.383 million compared to $18.815 million for 2009.  Provision for loan loss of $1.921 million for the full year 2010 compared to $1.625 million for all of 2009.  The added provision in 2010 was used to increase the Bank’s allowance for loan loss while 2010 loan charge-offs remained at 2009 levels. The improvement in net interest income resulted from the combined effect of a 27% decline in the Bank’s cost of funds less a 4% drop in the yield on earning assets.  Lower deposit costs resulted from the continued downward repricing of deposits as the Fed Funds Target rate remained at a range of 0 to .25% throughout 2010.   Total non-interest income of $2.733 million in 2010 compares to $1.889 million for 2009.  The lower level of non-interest income in 2009 was due to a one time charge to earnings totaling $990 thousand resulting from the mark-to-market of an other than temporarily impaired investment security.  Non-interest expense of $14.872 million in 2010 increased 6% over non-interest expense of $14.041 million in 2009.  

Total assets outstanding increased 2% to $537 million at year-end 2010, an increase of $13 million from assets of $524 million at the end of 2009. Reflecting the continued low levels of consumer and overall business sentiment, net loans outstanding declined slightly to $388 million, down 1% under loans of $393 million at the end of 2009.  Deposits increased 2% to $462 million at December 31, 2010. Total shareholders’ equity grew to $45.2 million, up 2% from $44.3 million at year-end 2009. Based upon shares outstanding the book value of Shareholders’ equity increased 2% from $28.83 at year-end 2009 to $29.46 per share at December 31, 2010.

McComb stated, “ We take pride in the record financial results achieved during 2010.  2010 has been a milestone year for Heartland BancCorp and Heartland Bank.  Our capital position and earnings rose to record levels in this our 99th year since our founding. As we enter 2011, our centennial year, we reflect upon the past 100 years, tempered by social and economic turmoil, stressed by two world wars, the great depression and in the first decade of this millennium by this Great Recession. The past three years have provided unprecedented economic challenges for our industry resulting in numerous bank failures. I believe our success has been achieved as a result of our allegiance to our agrarian heritage and values coupled with our adherence to fundamental banking principles to conduct our business in a professional and ethical manner focused on enhancing our customers experience and shareholder value.  During 2011 we celebrate the opportunity to have served in both good times and bad, the diverse financial needs of our customers in the central Ohio communities over the past 100 years.  We pledge to remain focused on our core values and deploy our capital to the benefit of our shareholders while increasing the value of their investment in Heartland BancCorp.   While many financial institutions have in the recent past reduced or discontinued paying dividends, Heartland BancCorp has maintained its annual dividend of $1.29 per common share. In this regard, I am especially pleased to announce our Board of Directors declared a 1st quarter 2010 cash dividend of $0.3217 per share to shareholders of record March 25, 2011 payable April 10, 2011 resulting in a dividend yield of 5.47% based on the closing price of our shares at December 31, 2010.”

Heartland Bank provides a complete line of loan and deposit products accessible from any of our banking offices and ATMs, as well as from home or office using Heartland’s telephone banking at 416-BANK or internet banking at heartlandbank.com

Heartland BancCorp is a Financial Holding Company and is a registered Ohio bank holding company and the parent of Heartland Bank, which operates eleven full-service banking offices.  Alternative investment services are provided through Infinex Financial Group.  Heartland Bank is a member of the Federal Reserve, a member of the FDIC and an Equal Housing Lender.  Heartland BancCorp is currently quoted on the over-the-counter (OTC) Bulletin Board Service under the symbol HLAN.



          

 

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