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Mar 31, 2023
Heartland Financial Q1 2023 Earnings Report
Heartland Financial's financial health remained strong amidst challenging headwinds, delivering solid regulatory capital ratios and excellent credit metrics.
Key Takeaways
Heartland Financial USA, Inc. reported a strong first quarter with net income available to common stockholders of $50.8 million and diluted earnings per common share of $1.19. The company maintained solid regulatory capital ratios, enhanced its strong liquidity position, and delivered excellent credit metrics.
Net income available to common stockholders was $50.8 million.
Diluted earnings per common share reached $1.19.
Total deposits increased by $168.3 million.
Efficiency ratio, fully tax-equivalent (non-GAAP) was 57.16%.
Forward Guidance
The remaining four charters are expected to be consolidated by the end of 2023. Total consolidation restructuring costs are projected to be $19-$20 million with approximately $8-$9 million of expenses remaining to be incurred in 2023. Total benefits are estimated to be approximately $20 million annually after the project is completed.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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