» Contact Us     » Locations & Hours       
Central Ohio’s Community Bank Since 1911
InvestmentsInsuranceInvestor RelationsBank Owned Property for Sale

News & Info

Heartland BancCorp in Top 200 Community Banks and Thrifts in the Nation, Four Years Running12-May-2014

Gahanna, Ohio – May 1, 2014…Leading business management publication American Banker Magazine has just released its annual list of the..

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..


»HEARTLAND NEWS

We're making it even easier to bank with us with our Online Account Center. It's quick and easy...

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

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

17-Jul-2013 Gahanna, Ohio - Scott McComb, Chairman & CEO of Heartland BancCorp, parent company of Heartland Bank, today reported earnings for the 2nd quarter and six months ending June 30, 2013. Net income for the 2nd quarter 2013 totaled $1.282 million or $0.82 per diluted share compared to net income of $3.225 million or $2.08 per diluted share for the three months ended June 30, 2012. Year to date 2013 net income of $2.372 million or $1.52 per diluted share compares to earnings of $4.501 million or $2.90 per diluted share for the first six months of 2012. Both 2nd quarter and year to date 2012 earnings include net tax exempt life insurance proceeds totaling $1.983 million recorded in other non-interest income from Heartland Bank’s key-man insurance policies on its former Chairman and Founder. As of June 30, 2013 year to date net income of $2.372 million declined $146 thousand or 6% compared to net income of $2.518 million excluding the one- time net insurance benefit.

Excluding the one- time net insurance benefit of $1.983 million during the 2nd quarter of 2012 Non-interest income of $1.161 million for the 2nd quarter of 2013 increased $407 thousand or 54%. The increase in 2013 resulted from gains recorded on the sales of investment securities totaling $465 thousand. Non- interest or operating expenses of $4.232 million increased $251 thousand or 7% over $3.981 million for 2nd quarter of 2012.

Net interest income after provision of $4.772 million for the 2nd quarter of 2013 trailed the prior year 2nd quarter amount by 3% or $146 thousand. The decrease in net interest income was substantially due to the early redemption of the company’s $3 million 10.60% trust preferred security increasing 2nd quarter and year to date interest expense $162 thousand. This increase in interest expense represents the early redemption penalty and unamortized issuance costs as of the redemption date of March 7, 2013. Provision expense increased 16% totaling $555 thousand, $75 thousand higher than the $480 thousand for 2nd quarter 2012.

As of June 30, 2013 year to date net income of $2.372 million declined $146 thousand or 6% compared to net income of $2.518 million (excluding the one- time net insurance benefit of $1.983 million during the 2nd quarter of 2012.)

Net interest income after provision expense was $9.301 million for the first six months of 2013 representing a decline of 4% compared to net interest income after provision of $9.729 million for the same period in 2012. The decline in net interest income was due to a 6% or $767 thousand decline in interest income partially offset by a 23% or $523 thousand decrease in interest expense. Both
declined as a result of continued low market interest rates during this period. Non-interest income totaled $2.012 million for the 1st 6 months of 2013 and includes gains recorded from the sale of investment securities totaling $684 thousand.

McComb stated “These continue to be challenging times for the banking industry to maintain net interest margins with competitive aggressive refinancing terms coupled with rising regulatory compliance costs. Rates are poised to increase in the future and we have tried to position the bank to protect the net interest margin at the sacrifice of some growth. However, with the local economy improving along with loan demand, we have been able to deflate the investment portfolio and re-deploy that capital into higher yielding loans. An improving economy will create opportunity for us to grow without out the downside risk of deploying capital at unprofitable levels.”

Other financial highlights for the first half of 2013 compared to the same period in 2012 include:

• Total Assets declined $4.8 million, less than 1% year-over-year. The decline was due primarily to the March 7, 2013 early redemption of a $3 million 10.60% trust preferred security.

• Total loans increased $10.2 million up 3% over the prior year

• Non-interest bearing and interest bearing transaction accounts increased $14.7 million or 6.14%

McComb noted “During their July 16, 2013 meeting, the Directors of Heartland BancCorp declared a 3rd quarter 2013 cash dividend of $0.3217 per share to shareholders of record September 25, 2013, payable October 10, 2013. Based on the closing price of our common stock on June 30, 2013, this dividend represents an annualized dividend yield of 3.83% to our shareholders who are accustomed to a consistent and fair return on their investment. This consistent performance shows the level of risk management and the strength of our franchise.”


Heartland BancCorp is a registered Ohio bank holding company and the parent of Heartland Bank, which operates eleven full-service banking offices. Heartland Bank, founded in 1911, provides full-service commercial, small business, and consumer banking services; alternative investment services; insurance services; and other financial products and services. 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 worldwide access at www.heartlandbank.com 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. Learn more about Heartland Bank at HeartlandBank.com.


Heartland BancCorp

Earnings Profile

Second Quarter and Year-To-Date

June 30, 2013 and 2012

 

 

 

2013

2012

Net Interest Income (after provision)

Noninterest Income

$4,772,155

1,161,192

$4,918,162

2,736,958

Net Income

1,282,653

 

3,225,442

 

Basic Earnings Per Share

$0.83

$2.09

Diluted Earnings Per Share

$0.82

$2.08

 

 

 

Net Interest Income (after provision)

Noninterest Income

$9,301,425

2,012,264

$9,729,390

3,571,818

Net Income

2,372,208

4,501,410

Basic Earnings Per Share

$1.54

$2.92

Diluted Earnings Per Share

$1.52

$2.90

 

 

 

 

Your PrivacyCareersFAQsSecurity CenterSite Map