Company Profile
- Heartland Financial USA, Inc. (NASDAQ: HTLF) (“Heartland” or “the company”) is the holding company for subsidiary, HTLF Bank (“the bank”). The company historically operated 11 independent bank charters, though recently completed its charter consolidation in 4Q23, with HTLF Bank being the surviving entity, though the former bank charters continue to maintain their local brands. HTLF’s operations are scattered throughout the Midwest, Southwest, and Western regions of the U.S., though its headquarters in Denver reflects the most meaningful scale, with $4.2 billion of deposits.
- Founded in 1981, HTLF’s legacy operating footprint was more concentrated in the Midwest markets where the company generally reflects the leading market share among local banks. That said, through a more aggressive M&A strategy (9 closed deals since 2015), HTLF diversified its operating footprint and expanded into and added scale within higher growth markets. Heartland recently…