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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 1st Quarter 2010 Earnings Surpass Prior Year Balance Sheet, Loan...

Heartland BancCorp Announces 1st Quarter 2010 Earnings Surpass Prior Year Balance Sheet, Loan...

29-Apr-2010

Heartland BancCorp Announces 1st Quarter 2010 Earnings Surpass Prior Year Balance Sheet, Loan and Shareholders’ Equity Growth Continues

For Immediate Release: April 27, 2010 – 12:00 noon

Contact: Tiney M. McComb – Chairman and CEO Phone: 614-337-4600

Tiney M. McComb, Chairman and CEO of Heartland BancCorp, parent company of Heartland Bank, today reported 1st quarter 2010 net income of $1.1 million or $0.69 per diluted share up 8% over earnings of $983 thousand or $0.64 per diluted share for the 1st quarter of 2009.

Net interest income increased $687 thousand or 16% for the 1st quarter of 2010 over the prior year. The increase in net interest income was due to a 31% decline in the cost of funds partially offset by a 3% decline in interest income. The improved margin reflects the low and stable interest rates in effect during the quarter resulting in the continued downward repricing of funding costs. Non-interest income of $722 thousand for the 1st quarter of 2010 increased $32 thousand or 5% over the prior year quarter.

Operating expenses increased $343 thousand or 10% over 2009 1st quarter levels. The increase in operating expense was due primarily to a $134 thousand or 175% increase in 1st quarter 2010 FDIC insurance cost representing higher premiums passed through to FDIC insured institutions as well as the cost of elective unlimited product insurance coverage over the $250 thousand FDIC maximum on noninterest bearing transaction accounts. Net Loan charge-offs declined 19% during the 1st quarter of 2010 to $283 thousand from $349 thousand for the 1st quarter of 2009 resulting in increasing the allowance for loan loss to $3.5 million at March 31, 2010.

McComb noted, “I am pleased to report strong year over year quarterly earnings growth. Overall, our asset quality remains strong and coupled with the loan and deposit growth, and improved net interest margin, provides the fundamentals for future earnings growth”.

Other Financial highlights for the 1st quarter 2010 compared to the same period in 2009 include:

  • Total assets increased $12 million or 2% to $542 million.
  • Net loans increased $10.5 million or 3% to $393 million.
  • Shareholders’ equity increased $2.6 million or 6% to $44.3 million.
  • Book value per share increased $1.76 or 7% to $28.84 per share.

McComb stated, “The economic environment during the past two years has been especially difficult for financial institutions and the overall financial industry. The national media has promoted negative images of the banking industry that unfairly include community-banking institutions that have acted responsibly, amongst money center banks. By far, the community-banking sector has continued to demonstrate integrity and commitment to upholding their traditional customer oriented values and adherence to ethical banking standards. Heartland BancCorp did not participate in government bailout programs such as TARP. Heartland Bank maintains a Well-Capitalized regulatory rating, is financially strong and we continue to focus our efforts to grow responsibly while mitigating risk through adherence to our fundamental and time-tested banking principals. As we emerge from a contracting to an expanding economy we are very encouraged about opportunities to advance our market share as we continue to fulfill the banking needs of the communities we serve”.

“As a result of our continued earnings growth, our Board of Directors declared a 2nd quarter 2010 cash dividend $0.3217 per share payable to shareholders of record June 25, 2010, payable July 10, 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 www.heartlandbank.com.

Heartland BancCorp 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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