HEARTLAND FINANCIAL USA INC
htlf.comNo Longer Reporting
The company has not filed an annual or quarterly report since its Q3 FY2024 10-Q, filed Nov 8, 2024. Its latest SEC filing is a SCHEDULE 13G/A from May 15, 2025.
10-Q for Q3 FY2024, filed Nov 8, 2024
The sections below describe the company as of the FY2023 annual report.
What Did They Do?
Provides commercial and consumer banking, plus wealth services, to businesses and individuals.
10-K for FY2023, filed Feb 23, 2024The principal business of our Banks consists of making loans to and accepting deposits from businesses and consumers, while offering other…View ↗
We enhance the customer-centric local services in our Bank Markets with a full complement of value-added services, including wealth…View ↗
We are engaged in the business of banking, with the expertise to serve a wide range of businesses and the scale to compete at many levels.…View ↗
How Did They Make Money?
Bank customers pay service charges for deposit accounts, card use and other services, usually immediately or the following month; account fees accrue over the service period and transaction fees when services are provided. Trust customers pay monthly fees based on managed assets, while brokerage and insurance commissions come after transactions or insurance payments.
10-K for FY2023, filed Feb 23, 2024Service charges on deposit accounts consist of account analysis fees (i.e., net fees earned on analyzed business and public checking…View ↗
Credit card fee income and debit card income are comprised of interchange fees, ATM fees, and merchant services income. Credit card fee…View ↗
Trust fees are primarily comprised of fees earned from the management and administration of trusts and other customer assets. HTLF's…View ↗
Brokerage commission primarily consists of commissions related to broker-dealer contracts. The contracts are between the customer and the…View ↗
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10-K for FY2023, filed Feb 23, 2024
FY2023 revenue by product or service ↗
$97.5M
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10-K for FY2023, filed Feb 23, 2024
$97.5M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Service charges and fees
Mix
10-K for FY2023, filed Feb 23, 2024 |
76%
FY2020: 67%
|
Service charges and fees, FY2023
$74M Sources
|
Mix |
|
Trust fees
Recurring
10-K for FY2023, filed Feb 23, 2024 |
21%
FY2020: 29%
|
Trust fees, FY2023
$20.7M Sources
|
Recurring |
|
Brokerage and insurance commissions
Sold outright
|
2.9%
FY2020: 3.9%
|
Brokerage and insurance commissions, FY2023
$2.8M Sources
|
Sold outright |
Who Were Their Customers?
Bankers actively solicit new and established companies in their communities, while customers can use online, mobile and telephone banking channels.
10-K for FY2023, filed Feb 23, 2024
Did Revenues Turn Into Profits?
Yes. It kept 82 cents of every revenue dollar as net income in FY2023 and turned 280 cents into free cash flow.
How Were They Changing?
10-Q for Q3 FY2024, filed Nov 8, 2024
Open tableView ↗
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Feb 3, 2025
UMB completed its merger with HTLF
HTLF survived briefly as UMB’s wholly owned subsidiary before merging into UMB; HTLF Bank also merged into UMB Bank.
Sources
8-K, filed Feb 3, 2025
Pursuant to the Merger Agreement, on the Closing Date, Merger Sub merged with and into HTLF (the “Merger”), with HTLF surviving the Merger…View ↗
Grew. Revenue grew 29% in 4 years, from $75.3M in FY2019 to $97.5M in FY2023, about 7% a year.
Retirement-plan services
The older report included retirement-plan services among its offerings; the latest says HTLF transferred recordkeeping and administration to July and expects to offer clients retirement solutions through a partnership.
10-K for FY2020, filed Feb 25, 2021 10-K for FY2023, filed Feb 23, 2024We enhance the customer-centric local services of our Banks with a full complement of value-added services, including wealth management…View ↗
HTLF completed strategic divestitures of certain non-core assets during 2023. Dubuque Bank & Trust, a division of HTLF Bank, sold and…View ↗
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