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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 and Year-to-Date 2012 Earnings

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

11-Oct-2012

Gahanna, Ohio – October 11, 2012 - G. Scott McComb, Chairman & CEO of Heartland BancCorp, parent company of Heartland Bank, today reported a 10% increase in 3rd quarter 2012 earnings over the 3rd quarter of 2011. Net income of $1.412 million or $0.91 per diluted share for the three months ended September 30, 2012 compares to net income of $1.284 million or $0.83 per diluted share for the third quarter of 2011. In addition to the increase in earnings, total assets increased to $578 million at September 30, 2012.

Earnings were higher for the 3rd quarter of 2012 as a result of higher net interest income and non-interest income and lower provision expense. Net interest income after provision increased 6% to $4.911 million for the 3rd quarter of 2012 over net interest income after provision of $4.621 million for the 3rd quarter of 2011. Interest income totaled $6.408 million during the 3rd quarter of 2012 a decrease of 6% compared to interest income of $6.795 million for the same period in 2011. Interest expense declined to $1.016 million, a decrease of 29% for the 3rd quarter of 2012 compared to interest expense of $1.424 million for the 3rd quarter of 2011. Overall, interest rates have fallen and remained at historically low levels since 2007 resulting in the downward repricing of both earning assets as well as interest bearing liabilities throughout 2012 and 2011. Provision expense during the 3rd quarter of 2012 totaled $480 thousand down $270 thousand over provision expense of $750 thousand in 2011.

Net income for the nine-month period ending September 30, 2012 increased 54% to $5.914 million or $3.80 per diluted share, compared to earnings of $3.840 million or $2.47 per diluted share for the same nine-month period in 2011. YTD 2012 earnings improved over the prior year due to higher net interest income, lower provision expense and higher non-interest income Net interest income increased 1% in 2012 to $16 million, up $209 thousand due primarily to a 24% decrease in the cost of funds for the 9 months ending September 30, 2012.

Year to date 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.

Assets totaling $578 million grew $17 million for the period ending September 30, 2012. Net loans of $392.7 million at September 30, 2012 increased $4.5 million or 1% from net loans of $388 million at September 30, 2011. The securities portfolio grew $15.3 million, an increase of 11% at September 30, 2012 compared to September 30, 2011. Deposits of $490 million at September 30, 2012 increased $16.5 million representing an increase of 3% over prior year levels. Growth in transaction account balances of $37 million or 18% partially offset by an 8% or $21 million decline in time deposits since September 30, 2011 contributed to the increase in net interest income and reflects customer preferences to remain in accounts providing liquidity. Shareholders’ equity at September 30, 2012 grew to $55.9 million or $36.28 per share, an increase of 11% from $50.5 million or $32.81 per share, at September 30, 2011.

McComb commented “Our solid third quarter and year-to-date performance was achieved through our continued focus on attracting and enhancing new and current customer relationships throughout our central Ohio market. We are pleased with our growth in both assets and earnings despite the unsettled economic environment and intensified competitive challenges. Heartland BancCorp has achieved solid financial results thus far during 2012. I am pleased to report higher year-over-year quarterly and year-to-date earnings supported by a strong net interest margin, non-interest income and prudent management of operating expenses providing strong core earnings growth. Our focus continues to be concentrated on achieving our strategic goals to grow our institution profitably, ensuring the future success for our customers, employees and our shareholders.

“Heartland BancCorp continues to maintain a strong capital position supported by solid core earnings and liquidity. I am particularly encouraged to report Heartland’s solid year over year growth in shareholders’ equity. Heartland BancCorp’s book value per share of $36.28 represents an 11% increase over the prior year. Heartland Bank remains a ‘Well Capitalized’ banking institution for regulatory capital purposes and the capital ratios continue to trend higher over prior periods. Our high capital ratios put us in a good position to take advantage of strategic opportunities that may arise. An example of this is our new Newark, Ohio branch office scheduled to open later in the month of October, 2012. Newark and the Licking County community represent one of our most important markets as evidenced by our investment in this new office. While we have been on the Courthouse Square for 18 years, this new facility will enable us to expand our services to our customers and our prospective customers affording them a convenient and efficient banking experience.”

About Heartland Bank
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 ATTACHED]

For Immediate Release:

MEDIA CONTACT:
G. Scott McComb
President and CEO
614.337.4600

 

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