KBRA Releases Surveillance Report for Heartland Financial USA, Inc.

On May 1, 2024, KBRA placed the long-term ratings of Denver, Colorado-based Heartland Financial USA, Inc. (NASDAQ: HTLF) on Watch Upgrade, including the senior unsecured debt rating of BBB+, the subordinated debt rating of BBB, and the preferred shares rating of BBB- following the recently proposed merger announcement with UMB Financial Corporation (NASDAQ: UMBF). In addition, KBRA affirmed the short-term debt rating of K2. KBRA also placed the ratings of HTLF's lead subsidiary, HTLF Bank, on Watch Upgrade, including the deposit and senior unsecured debt ratings of A- and short-term deposit and debt ratings of K2.

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