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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 Higher 3rd Quarter 2013 Earnings: Directors Increase Dividend

Heartland BancCorp Announces Higher 3rd Quarter 2013 Earnings: Directors Increase Dividend

17-Oct-2013 Gahanna, Ohio - Scott McComb, Chairman & CEO of Heartland BancCorp, parent company of Heartland Bank, today reported a 2% increase in third quarter 2013 earnings over the third quarter of 2012. Net income of $1.440 million or $0.92 per diluted share for the three months ended September 30, 2013 compares to net income of $1.412 million or $0.91 per diluted share for the third quarter of 2012. Earnings were higher for the third quarter of 2013 as a result of higher net interest income, lower provision expense and higher non-interest income. Net interest income before provision increased $95 thousand or 2% to $5.486 million for the third quarter of 2013 over net interest income before provision of $5.391 million for the third quarter of 2012. Interest income totaled $6.227 million during the third quarter of 2013 a decrease of 3% compared to interest income of $6.407 million for the same period in 2012. Interest expense declined to $742 thousand, a decrease of 27% for the third quarter of 2013 compared to interest expense of $1.016 million for the third quarter of 2012. Overall, short-term interest rates remained at historically low levels since 2007 resulting in the downward repricing of both earning assets as well as interest bearing liabilities throughout 2013 and 2012. Provision expense during the third quarter of 2013 totaled $455 thousand down $25 thousand over provision expense of $480 thousand in 2012.

Net income for the nine-month period ending September 30, 2013 declined 36% to $3.812 million or $2.44 per diluted share, compared to earnings of $5.914 million or $3.80 per diluted share for the same nine-month period in 2012. 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. Excluding this one-time revenue item,
2012 year to date earnings would have totaled $3.931 million or $2.52 a diluted share $119 thousand higher than earnings of $3.812 million for the first nine months of 2013.

Assets totaling $584 million at September 30, 2013 increased $5.9 million over total assets of $578 million at September 30, 2012. Net loans of $420.9 million at September 30, 2013 increased $28.2 million up 7% from net loans of $392.7 million at September 30, 2012. Securities of $118.1 million declined $32.7 million or 22% over the prior year. The drop in securities outstanding resulted from the increase in loan demand funded in part by the liquidity from the bank’s securities portfolio.
Deposits outstanding of $500 million at September 30, 2013 increased $10 million, an increase of 2% over prior year levels. Growth in transaction account balances of $31.7 million or 13% partially offset by a 9% or $22 million decline in time deposits since September 30, 2012 contributed to the decrease in interest expense and reflects customer preferences to remain in accounts providing liquidity.

McComb commented “Our solid third quarter and year-to-date 2013 performance was achieved through our continued focus on attracting and enhancing new and current customer relationships.
Heartland Bank remains a ‘Well Capitalized’ banking institution for regulatory capital purposes which put us in a good position to take advantage of strategic opportunities that may arise. The shift in long-term interest rates has allowed us to grow profitably and more businesses and consumers seeking the benefits of community banking, as opposed to mega banking, are filling our branches”

“I am further pleased to announce, in recognition of our strong financial performance through the first nine months of 2013, Heartland BancCorp’s Board of Directors approved a 5% increase in Heartland BancCorps quarterly cash dividend and declared a fourth quarter cash dividend of $0.3378 per share to shareholders of record December 25, 2013 payable January 10, 2014”. A share of Heartland BancCorp common stock has produced a dividend yield of 4.50% over the seven year period beginning in 2007, the beginning of the U.S. economic collapse, projected through 2013.

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
Third Quarter and Year to Date
September 30, 2013 and 2012


 

 

                 2013

 

                 2012

 

Third Quarter

Net Interest Income (after provision)

Non-Interest Income

$5,030,866

851,350

$4,911,116

710,725

 

Net Income

1,439,843

1,412,398

 

Basic Earnings Per Share

$0.93

$0.92

 

 

 

Diluted Earnings Per Share

                       $0.92

                         $0.91

Year to Date

Net Interest Income (after provision)

Non-Interest Income 

$14,332,291

2,863,614

$14,640,506

4,282,543

 

Net Income

3,812,051

5,913,808

 

Basic Earnings Per Share

$2.47

$3.84

 

 

 

Diluted Earnings Per Share

$2.44

$3.80

 

 

 

 

 

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