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Jun 30, 2020
Heartland Financial Q2 2020 Earnings Report
Reported quarterly results, driven by solid net interest margin and strong efficiency ratio.
Key Takeaways
Heartland Financial USA, Inc. reported a net income of $30.1 million, or $0.82 per diluted common share, for the quarter ended June 30, 2020. The company funded approximately 4,800 PPP loans totaling $1.20 billion and completed the issuance of $115.0 million of preferred equity.
Quarterly net income of $30.1 million or $0.82 per diluted common share.
Net interest margin of 3.81% during the second quarter of 2020.
Efficiency ratio of 55.75% compared to 64.13% for the second quarter of 2019.
Funded approximately 4,800 Paycheck Protection Program ("PPP") loans totaling $1.20 billion.