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Sep 30, 2021
Heartland Financial Q3 2021 Earnings Report
Reported solid quarterly results driven by strong balance sheet and excellent credit metrics.
Key Takeaways
Heartland Financial USA, Inc. reported a strong third quarter with net income available to common stockholders of $53.9 million, an 18% increase compared to the third quarter of 2020. The company saw growth in non-PPP loans and a record low level of loan delinquencies.
Net income available to common stockholders increased by 18% to $53.9 million.
Quarterly loan growth, excluding PPP loans, was $262.8 million, an 11% annualized increase.
Net recoveries on previously charged off loans were $1.3 million, with nonperforming assets declining to 0.46% of total assets.
The company announced an 8% increase in the regular quarterly dividend to $0.27 per common share.
Forward Guidance
The company is continuing to explore ways to improve operational efficiency, including evaluating the consolidation of its 11 bank charters.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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