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Sep 30, 2024
Heartland Financial Q3 2024 Earnings Report
Reported quarterly results with net income available to common stockholders of $62.1 million, or $1.44 per common share.
Key Takeaways
Heartland Financial USA, Inc. reported a solid third quarter with an increase in net interest margin and an improved tangible common equity ratio. The company completed the strategic sale of Rocky Mountain Bank in Montana, resulting in a net gain of $29.7 million.
Net income available to common stockholders was $62.1 million, or $1.44 per common share.
Adjusted earnings available to common stockholders were $50.6 million, or $1.17 per adjusted diluted share (non-GAAP).
Common equity to total assets increased to 11.11%, and the tangible common equity ratio (non-GAAP) improved to 8.14%.
Net interest margin, full tax-equivalent (non-GAAP) increased to 3.78%.
Heartland Financial
Heartland Financial
Forward Guidance
The company expects to close the transaction with UMB in Q1 2025.