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Sep 30, 2022
Heartland Financial Q3 2022 Earnings Report
Reported solid results driven by loan growth, improved efficiency ratio and clean credit metrics.
Key Takeaways
Heartland Financial reported a net income available to common stockholders of $54.6 million for the quarter ended September 30, 2022, compared to $53.9 million for the same period in 2021. Diluted earnings per common share increased to $1.28 from $1.27. The company's efficiency ratio improved, and it experienced solid loan growth.
Quarterly loan growth of $254.8 million or 2%, exclusive of Paycheck Protection Program ("PPP") loans
Total revenue growth of $8.1 million or 5% during the quarter to $185.1 million
Quarterly net income available to common stockholders of $54.6 million
Efficiency ratio of 55.26%