Heartland Financial USA, Inc. Reports Fourth Quarter 2012 Results

Heartland Financial USA, Inc. (NASDAQ: HTLF):
     

Quarter Ended December 31,

Twelve Months Ended December 31,
2012     2011 2012     2011
Net income (in millions) $ 8.9 $ 6.2 $ 49.3 $ 28.0
Net income available to common stockholders (in millions) 8.4 5.2 45.8 20.4
Diluted earnings per common share 0.50 0.31 2.73 1.23
 
Return on average assets 0.71 % 0.49 % 1.03 % 0.50 %
Return on average common equity 10.59 7.77 15.59 7.77
Net interest margin 3.81 4.08 3.98 4.16
 
 

“We are delighted to report that 2012 was an extraordinary year for Heartland by nearly every measure. Net income increased by 76 percent over 2011, with earnings per share growing by 122 percent.”
 

Lynn B. Fuller, chairman, president and chief executive officer, Heartland Financial USA, Inc.
 

Heartland Financial USA, Inc. (NASDAQ: HTLF) today reported net income of $8.9 million for the quarter ended December 31, 2012, an increase of $2.7 million or 43 percent from the $6.2 million recorded for the fourth quarter of 2011. Net income available to common stockholders was $8.4 million, or $0.50 per diluted common share, for the quarter ended December 31, 2012, compared to $5.2 million, or $0.31 per diluted common share, for the fourth quarter of 2011. Return on average common equity was 10.59 percent and return on average assets was 0.71 percent for the fourth quarter of 2012, compared to 7.77 percent and 0.49 percent, respectively, for the same quarter in 2011.

Net income recorded for 2012 was a record $49.3 million, compared to $28.0 million recorded during 2011, an increase of $21.3 million or 76 percent. Net income available to common stockholders was $45.8 million, or $2.73 per diluted common share, for 2012, compared to $20.4 million, or $1.23 per diluted common share, earned during 2011. Return on average common equity was 15.59 percent and return on average assets was 1.03 percent for 2012, compared to 7.77 percent and 0.50 percent, respectively, for 2011.

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