Heartland Financial USA Inc

HTLF

Equity

ISIN US42234Q1022 / Valor 276946

NASDAQ (2024-12-26)

USD 63.00+0.02%

Heartland Financial USA Inc
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About company

Heartland Financial USA Inc is a financial services company that focuses on providing a wide range of banking and wealth management services to its customers. The company's Chief Innovation and Digital Officer, Zach Hamilton, is responsible for developing and implementing digital strategies to enhance the customer experience. Additionally, Angela leads the Wealth Management business line, overseeing investments, wealth planning, retirement plan services, and brokerage divisions. With a strong background in financial technology, the company aims to stay at the forefront of innovation in the industry to better serve its clients.

Summarized from source with an LLMView SourceSector: Finance

Net Income

Heartland Financial USA Inc. reported a net loss available to common stockholders of $72.4 million for the fourth quarter of 2023, compared to a net income of $58.6 million in the same quarter of 2022. This represents a significant decrease of $131.0 million or 223% year-over-year.

Adjusted Earnings

For the fourth quarter of 2023, Heartland Financial USA Inc. reported adjusted earnings available to common stockholders of $45.6 million, down from $62.5 million in the fourth quarter of 2022. This marks a decrease of $16.9 million or 27% year-over-year.

Net Interest Income

Heartland Financial USA Inc.'s net interest income for the fourth quarter of 2023 was $156.1 million, a decrease of $9.1 million or 5% compared to $165.2 million in the fourth quarter of 2022. The net interest margin was 3.47%, down from 3.61% in the same period the previous year.

Strategic Plan HTLF 3.0

In the fourth quarter of 2023, Heartland Financial USA Inc. initiated its new strategic plan, HTLF 3.0. This plan includes investing in growth through banker expansion, expanding Treasury Management products, creating consumer and small business digital platforms, and optimizing footprint and facilities for efficient capital return.

Charter Consolidation

During the fourth quarter of 2023, Heartland Financial USA Inc. completed the consolidation of all 11 charters, including Dubuque Bank and Trust Company into HTLF Bank. The total consolidation restructuring costs amounted to $17 million, with $1.3 million incurred in the fourth quarter of 2023.

Summarized from source with an LLMView Source

Key figures

63.8%1Y

25.0%3Y

27.0%5Y

Performance

36.6%1Y

35.3%3Y

41.8%5Y

Volatility