HEARTLAND FINANCIAL USA, INC. HTLF Income Statement

Heartland financial usa, inc. (HTLF)

Income statement / TTM

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Sep'10	Jun'10
INTEREST INCOME:
Interest and fees on loans
430,573	424,615	422,749	417,916	408,676	393,871	374,279	351,452	322,759	304,006	287,746	274,886	276,601	278,128	268,185	256,467	242,482	227,106	217,427	208,410	200,687	194,022	188,791	179,634	171,259	164,702	159,217	158,271	157,927	156,499	154,753	152,938	151,036	149,603	150,595	151,472	0	0	0
Interest on securities:
Taxable
79,002	73,147	66,417	62,283	58,430	54,131	49,399	45,360	41,689	38,365	35,591	33,114	32,467	32,858	31,430	29,371	28,158	26,646	26,701	28,390	29,098	29,727	30,082	27,338	24,603	21,501	19,253	18,902	19,216	22,129	20,478	24,077	28,356	28,195	32,992	33,879	0	0	0
Nontaxable
8,958	9,868	11,233	12,604	13,634	14,120	15,054	16,650	18,086	19,698	19,589	18,220	16,766	15,085	14,104	13,464	12,772	12,178	12,057	12,229	13,063	13,269	13,373	13,567	13,219	13,295	12,913	12,366	11,625	10,698	14,216	13,465	12,642	13,935	10,787	11,689	0	0	0
Interest on federal funds sold
0	4	4	4	4	0	5	39	42	42	37	4	2	12	33	33	33	24	3	3	2	1	1	0	0	-	0	-	-	-	0	0	-	-	0	0	-	0	0
Interest on interest bearing deposits in other financial institutions
6,124	6,695	7,027	6,114	4,583	3,698	2,848	2,168	1,745	1,547	1,404	852	510	396	107	105	105	14	14	16	20	23	23	20	15	12	12	12	12	8	4	1	0	1	3	10	0	0	0
TOTAL INTEREST INCOME
524,657	514,329	507,430	498,921	485,327	465,820	441,585	415,669	384,321	363,658	344,367	327,076	326,346	326,479	313,859	299,440	283,550	265,968	256,202	249,048	242,870	237,042	232,271	220,560	209,097	199,511	191,398	189,554	188,784	189,338	189,453	190,485	192,037	191,737	194,379	197,051	0	0	0
INTEREST EXPENSE:
Interest on deposits
65,103	63,734	59,159	51,269	43,114	35,667	29,154	24,135	20,315	18,279	16,710	15,638	15,496	15,939	15,967	15,733	15,531	15,530	15,902	16,790	17,548	18,154	19,067	19,181	19,670	19,968	20,258	20,993	21,531	22,230	23,378	24,902	26,973	29,224	31,762	34,689	0	0	0
Interest on short-term borrowings
1,155	1,748	1,894	2,108	2,317	1,696	1,459	1,266	809	678	617	581	1,010	1,202	1,283	1,276	969	838	860	859	849	877	1,076	980	886	808	553	637	753	818	856	846	847	893	994	1,080	0	0	0
Interest on other borrowings (includes $(183) and $165 of interest expense/(benefit) related to derivatives reclassified from accumulated other comprehensive income/(loss) for the three months ended March 31, 2020 and 2019, respectively.
15,114	15,118	15,110	14,920	14,571	14,503	14,445	14,575	14,333	14,393	14,428	14,408	14,853	14,672	14,403	14,182	14,275	15,602	15,971	16,163	16,082	14,938	14,869	14,751	14,768	14,907	15,142	15,547	15,870	16,134	16,200	16,295	16,351	16,226	16,353	16,438	0	0	0
TOTAL INTEREST EXPENSE
81,372	80,600	76,163	68,297	60,002	51,866	45,058	39,976	35,457	33,350	31,755	30,627	31,359	31,813	31,653	31,191	30,775	31,970	32,733	33,812	34,479	33,969	35,012	34,912	35,324	35,683	35,953	37,177	38,154	39,182	40,434	42,043	44,171	46,343	49,109	52,207	0	0	0
NET INTEREST INCOME
443,285	433,729	431,267	430,624	425,325	413,954	396,527	375,693	348,864	330,308	312,612	296,449	294,987	294,666	282,206	268,249	252,775	233,998	223,469	215,236	208,391	203,073	197,259	185,648	173,773	163,828	155,445	152,377	150,630	150,156	149,019	148,442	147,866	145,394	145,270	144,844	0	0	0
Provision for credit losses
36,542	16,657	21,435	21,472	21,385	24,013	19,660	20,127	16,185	15,563	12,416	12,039	13,268	11,694	11,684	9,537	13,093	12,697	13,392	12,764	9,841	14,501	13,684	16,280	15,391	9,697	10,998	5,347	6,485	8,202	12,636	20,865	21,710	29,365	26,380	28,608	0	0	0
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES
406,743	417,072	409,832	409,152	403,940	389,941	376,867	355,566	332,679	314,745	300,196	284,410	281,719	282,972	270,522	258,712	239,682	221,301	210,077	202,472	198,550	188,572	183,575	169,368	158,382	154,131	144,447	147,030	144,145	141,954	136,383	127,577	126,156	116,029	118,890	116,236	0	0	0
NONINTEREST INCOME:
Revenue from contract with customers
75,116	75,342	76,648	76,866	73,948	71,612	66,695	0	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loan servicing income
4,077	4,843	5,949	6,798	7,267	7,292	6,631	6,122	5,666	5,636	5,304	5,016	4,957	4,501	5,137	5,632	5,503	5,276	4,932	4,883	5,113	5,583	5,006	4,285	3,033	1,648	-7,118	-4,700	-1,785	-151	9,836	7,901	6,143	5,932	5,790	6,329	0	0	0
Securities gains, net includes $1,658 and $1,575 of net security gains reclassified from accumulated other comprehensive income/(loss) for the three months ended March 31, 2020 and 2019, respectively.
7,742	7,659	7,216	5,058	1,219	1,085	2,457	4,281	5,932	6,973	7,161	7,066	10,296	11,340	13,645	13,828	12,316	13,143	10,438	9,496	7,240	3,668	2,969	3,262	4,475	7,121	6,504	10,598	13,482	13,998	18,280	15,153	14,958	13,104	11,088	10,053	0	0	0
Unrealized gain on equity securities, net
36	525	629	539	498	212	97	43	-28	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on trading account securities, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-38	544	807	1,069	1,421	1,003	577	364	47	-242	-162	-130	89	232	51	0	0	0
Impairment loss on securities (includes $0, $0, and $253 of net security losses reclassified from accumulated other comprehensive income for the years ended December 31, 2017, 2016, and 2015, respectively)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	981	981	981	981	0	0	0	0	-	-
Net gains on sale of loans held for sale
17,039	15,555	15,381	18,118	20,575	21,450	22,551	20,138	20,155	22,251	23,801	30,263	34,716	39,634	40,879	39,243	42,572	45,249	45,942	44,503	38,700	31,337	28,912	29,165	33,417	40,195	60,550	65,663	65,304	60,649	40,414	29,847	18,466	11,366	8,287	6,187	0	0	0
Valuation allowance on servicing rights
1,887	911	1,637	781	633	46	-4	221	-14	-21	-37	-37	28	33	41	46	0	-	0	0	-	-	-	-	-	-496	-693	-200	-6	477	693	200	6	19	1,239	0	0	0	-
Loss on sales/valuations of other real estate and repossessed assets, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-
Income on bank owned life insurance
3,384	3,785	3,255	3,266	3,078	2,793	2,939	2,813	2,769	2,772	2,581	2,435	2,370	2,275	2,377	2,129	1,997	1,999	1,754	1,753	1,633	1,472	1,499	1,537	1,513	1,555	1,440	1,413	1,365	1,442	1,538	1,364	1,428	1,349	1,338	1,423	0	0	0
Other noninterest income
9,801	9,410	7,782	5,724	5,209	4,762	5,930	6,190	5,761	5,335	5,529	5,148	5,174	5,580	3,995	3,891	3,728	3,409	3,351	3,039	2,836	2,580	2,481	2,880	3,198	3,253	3,863	3,395	2,828	4,713	3,469	2,755	2,390	86	223	837	0	0	0
TOTAL NONINTEREST INCOME
115,308	116,208	115,223	115,588	111,161	109,160	107,643	102,855	100,845	102,022	100,949	104,514	109,916	113,601	113,527	109,965	109,600	110,685	107,537	103,163	94,037	82,224	81,006	80,779	82,502	89,618	96,833	106,220	111,240	108,662	100,470	83,966	70,357	59,577	53,148	50,720	0	0	0
NONINTEREST EXPENSES:
Salaries and employee benefits
200,213	200,541	197,036	196,930	197,693	196,118	192,678	187,982	178,350	171,407	167,233	162,741	163,600	163,547	158,015	154,315	149,181	144,105	141,937	138,450	134,162	129,843	128,549	123,850	120,803	118,224	117,386	115,603	111,471	105,727	98,579	89,251	81,347	75,537	68,904	66,742	0	0	0
Occupancy
25,314	25,450	26,259	26,013	25,892	25,328	24,598	24,473	23,214	22,244	21,428	20,304	20,468	20,398	19,656	18,864	17,672	16,928	16,499	15,999	15,955	15,746	15,504	15,084	14,324	13,459	12,813	12,022	11,332	10,629	9,980	9,780	9,459	9,363	9,282	9,087	0	0	0
Furniture and equipment
12,516	12,100	11,896	12,508	12,472	12,529	12,551	11,907	11,309	11,061	10,857	10,777	10,633	10,245	9,645	9,020	8,754	8,747	8,500	8,412	8,321	8,105	8,015	7,899	7,879	8,040	7,855	7,479	6,931	6,326	5,979	5,830	5,673	5,636	5,676	5,883	0	0	0
Professional fees
51,500	50,022	48,724	49,393	45,057	43,510	45,012	40,662	37,613	36,474	31,537	29,072	28,975	27,676	26,984	26,250	24,013	23,047	21,616	20,794	19,759	18,241	18,439	18,496	18,515	17,532	16,662	16,393	16,121	15,338	14,323	13,216	12,308	12,567	11,803	11,242	0	0	0
FDIC insurance assessments
-	-	-	-	-	-	-	-	-	-	3,327	3,613	3,824	4,185	4,354	4,192	3,971	3,759	3,833	3,703	3,784	3,808	3,884	3,741	3,622	3,544	3,318	3,384	3,330	3,292	3,330	3,317	3,296	3,777	4,260	4,846	0	0	0
Advertising
9,913	10,028	10,444	10,461	9,945	9,565	8,927	7,531	6,745	7,229	7,415	7,396	7,588	6,448	5,798	5,786	5,568	5,465	5,283	5,339	5,517	5,524	5,540	5,517	5,254	5,294	5,572	5,395	5,451	5,294	4,696	4,704	4,513	4,292	4,060	3,921	0	0	0
Core deposit intangibles and customer relationship intangibles amortization
12,084	11,972	11,673	11,400	10,361	9,355	8,588	7,825	6,769	6,077	5,399	4,827	4,906	5,630	5,381	4,824	4,242	2,978	2,567	2,354	2,230	2,223	2,205	1,880	1,487	1,063	757	707	631	562	540	535	557	572	580	584	0	0	0
Goodwill impairment charge
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-
Other real estate and loan collection expenses
-668	-1,035	-1,348	-2,221	-3,007	-3,038	-3,151	-2,948	-2,365	-2,461	-2,346	-2,405	-2,699	-2,443	-2,594	-2,450	-2,544	-2,437	-2,238	-1,957	-1,722	-2,309	-3,785	-4,300	-4,659	-4,445	2,651	-394	-824	-2,890	-12,241	-9,875	-11,079	-9,807	-9,771	-9,998	0	0	0
(Gain)/loss on sales/valuations of assets, net
16,402	19,422	20,969	20,413	599	-2,208	-3,076	-3,506	-1,866	-2,475	-2,056	-1,508	-1,577	-1,478	-5,302	-5,229	-6,781	-6,821	-2,699	-2,425	-2,295	-2,105	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Acquisition, integration and restructuring costs
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Partnership investment in tax credit projects
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Restructuring expenses
-	-	3,227	3,227	-	2,564	2,564	2,564	2,564	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other noninterest expenses
55,286	54,208	54,616	52,086	50,555	49,673	44,410	41,483	39,593	38,247	38,111	36,734	36,829	37,618	37,981	38,349	39,015	36,759	33,868	32,266	29,131	27,896	27,250	25,004	23,114	21,926	26,037	26,723	26,302	26,230	19,293	17,157	16,317	15,745	14,564	14,309	0	0	0
TOTAL NONINTEREST EXPENSES
351,790	349,161	345,116	344,688	358,472	353,888	342,945	329,165	309,581	297,675	289,709	279,377	281,099	279,668	275,710	269,279	261,741	251,046	239,040	231,699	222,876	215,800	218,194	210,347	202,854	196,561	194,842	195,193	189,486	183,381	168,961	153,665	144,549	137,296	130,539	128,251	0	0	0
INCOME BEFORE INCOME TAXES
170,261	184,119	179,939	180,052	156,629	145,213	141,565	129,256	123,943	119,092	111,436	109,547	110,536	116,905	108,339	99,398	87,541	80,940	78,574	73,936	69,711	54,996	46,387	39,800	38,030	47,188	46,438	58,057	65,899	67,235	67,892	57,878	51,964	38,310	41,499	38,705	0	0	0
Income taxes (includes $466 and $358 of income tax expense reclassified from accumulated other comprehensive income/(loss) for the three months ended March 31, 2020 and 2019, respectively.)
32,589	34,990	36,520	37,535	31,402	28,215	43,036	42,805	43,413	43,820	30,674	30,209	32,186	36,556	32,561	29,246	23,199	20,898	20,860	18,831	18,992	13,096	8,815	7,391	6,839	10,335	8,031	12,877	16,311	17,384	21,313	17,524	15,362	10,302	12,818	12,304	0	0	0
NET INCOME
-	-	143,419	142,517	-	116,998	98,529	86,451	80,530	75,272	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	36,789	38,287	45,064	49,465	49,792	46,612	40,383	36,638	28,044	28,681	26,401	0	0	0
Net (income) loss available to noncontrolling interest, net of tax
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	64	146	142	149	59	-54	-30	-46	-36	-35	-80	0	0	0
NET INCOME
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0	-	37,572	32,409	31,191	36,853	38,381	45,154	49,562	49,851	46,600	40,355	36,612	28,008	28,716	26,481	0	0	0
Preferred dividends
-	-	0	13	-	39	52	52	52	58	64	104	143	292	477	629	781	817	817	817	817	817	817	888	889	1,093	1,298	1,971	2,787	3,400	4,012	7,010	7,325	7,640	7,955	5,344	0	0	0
Interest expense on convertible preferred debt
-	-	-	-	-	-	-	-	-	-12	-15	-29	-56	-51	-48	-31	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
NET INCOME AVAILABLE TO COMMON STOCKHOLDERS
137,672	149,129	143,419	142,504	125,201	116,959	98,477	86,402	80,485	75,226	80,713	79,263	78,263	80,108	75,349	69,554	63,561	59,225	56,897	54,288	49,902	41,083	36,755	31,521	30,302	35,696	36,963	43,067	46,652	46,392	42,621	33,374	29,323	20,404	20,761	21,137	0	0	0
EARNINGS PER COMMON SHARE - BASIC (in dollars per share)
0.54	1.03	0.94	1.26	0.91	0.95	0.98	0.85	0.76	0.44	0.73	0.82	0.68	0.75	0.82	0.85	0.84	0.67	0.70	0.73	0.77	0.66	0.64	0.57	0.36	0.42	0.39	0.55	0.72	0.53	0.77	0.79	0.72	0.31	0.21	0.54	0.18	0.34	0.23
EARNINGS PER COMMON SHARE - DILUTED (in dollars per share)
0.54	1.03	0.94	1.26	0.91	0.94	0.97	0.85	0.76	0.44	0.72	0.81	0.68	0.75	0.81	0.84	0.82	0.66	0.69	0.72	0.76	0.64	0.63	0.56	0.36	0.42	0.38	0.54	0.70	0.54	0.75	0.77	0.71	0.31	0.20	0.54	0.18	0.34	0.23
CASH DIVIDENDS DECLARED PER COMMON SHARE (in dollars per share)
0.20	0.18	0.18	0.16	0.16	0.19	0.14	0.13	0.13	0.18	0.11	0.11	0.11	0.20	0.10	0.10	0.10	0.15	0.10	0.10	0.10	0.10	0.10	0.10	0.10	0.10	0.10	0.10	0.10	0.20	0.10	0.10	0.10	0.10	0.10	0.10	0.10	0.10	0.10
Service charges and fees
Revenue from contract with customers
51,384	52,157	53,449	53,978	51,421	48,706	44,938	42,181	39,805	39,183	37,419	35,559	33,885	31,590	30,116	28,188	26,066	24,308	22,732	21,239	20,593	20,085	19,892	19,522	18,548	17,660	16,777	16,234	15,666	15,242	14,926	14,639	14,526	14,303	14,282	14,119	0	0	0
Trust fees
Revenue from contract with customers
19,947	19,399	18,857	18,397	18,187	18,393	18,130	17,503	16,867	15,818	15,200	15,017	14,663	14,845	14,357	14,175	14,463	14,281	14,401	14,088	13,518	13,097	12,691	12,415	12,014	11,708	11,302	11,051	10,769	10,478	10,277	9,994	9,990	9,856	9,786	9,732	0	0	0
Brokerage and insurance commissions
Revenue from contract with customers
3,785	3,786	4,342	4,491	4,340	4,513	3,966	3,805	3,904	4,033	3,917	3,973	3,883	3,869	3,831	3,694	3,724	3,789	3,987	4,162	4,404	4,440	4,571	4,804	4,733	4,561	4,260	3,891	3,743	3,702	3,646	3,656	3,573	3,511	3,361	3,228	0	0	0