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EX - 99.1 2 ex991q22021 pressrelease.htm EX - 99.1 HTLF Strength . Insight . Growth . CONTACT : Bryan R. McKeag Executive Vice President Chief Financial Officer ( 563 ) 589-1994 BMcKeag@htlf.com news FOR IMMEDIATE RELEASE July 26 , 2021 HEARTLAND FINANCIAL USA , INC . ( " HTLF " ) REPORTS RECORD QUARTERLY AND YEAR TO DATE RESULTS AS OF JUNE 30 , 2021 Highlights and Developments § Net income available to common stockholders of $ 59.6 million compared to $ 30.1 million for the second quarter of 2020 , an increase of $ 29.5 million or 98 % § Net income available to common stockholders of $ 110.4 million compared to $ 50.2 million for the six months ended June 30 , 2020 , an increase of $ 60.2 million or 120 % § Diluted earnings per common share of $ 1.41 compared to $ 0.82 for the second quarter of the prior year , an increase of $ 0.59 or 72 % § Quarterly loan growth was $ 287.7 million or 13 % annualized , exclusive of Paycheck Protection Program ( " PPP " ) loans § Non - time deposit growth of $ 133.3 million or 1 % for the second quarter of 2021 and $ 780.0 million or 6 % for the six months ended June 30 , 2021 § Annualized net charge off ratio of 0.12 % , nonperforming assets to total assets of 0.50 % , and 30-89 day loan delinquencies of 0.17 % § Announced a 14 % increase in the regular quarterly dividend to $ 0.25 per common share Quarter Ended June 30 , Six Months Ended June 30 , 2021 2020 Net income available to common stockholders ( in millions ) Diluted earnings per common share 59.6 1.41 $ 30.1 $ 2021 110.4 2020 50.2 0.82 2.61 1.36 Return on average assets 1.35 % 0.84 % 1.27 % 0.73 % Return on average common equity 12.07 7.69 11.29 6.32 Return on average tangible common equity ( non - GAAP ) ( 1 ) Net interest margin 18.05 11.97 16.99 9.95 3.37 3.81 3.40 3.81 Net interest margin , fully tax - equivalent ( non - GAAP ) ( 1 ) Efficiency ratio , fully - tax equivalent ( non - GAAP ) ( 1 ) 3.41 3.85 3.45 3.85 57.11 55.75 56.86 58.64 ( 1 ) Refer to " Non - GAAP Measures " in this earnings release for additional information on the usage and presentation of these non - GAAP measures , and refer to the financial tables for reconciliations to the most directly comparable GAAP measures . " HTLF's second quarter 2021 financial performance was strong . Net income available to common stockholders totaled $ 59.6 million , which was a 98 % increase over the same quarter last year . Loan growth , excluding PPP loans , non - time deposit growth and improved credit quality all contributed to our success this quarter . " Bruce K. Lee , president and chief executive officer , HTLF