HEARTLAND FINANCIAL USA, INC. ("HTLF") REPORTS RECORD QUARTERLY RESULTS AS OF MARCH 31, 2021

Dubuque, IA, April 26, 2021 (GLOBE NEWSWIRE) --

Highlights and Developments

• Record net income available to common stockholders of $50.8 million compared to $20.0 million for the first quarter of 2020, an increase of $30.8 million or 153%
• Diluted earnings per common share of $1.20 compared to $0.54 for the first quarter of the prior year, an increase of $0.66 or 122%
• Annualized net charge off ratio of 0.06%, nonperforming assets to total assets of 0.54%, and 30-89 day loan delinquencies of 0.16%
• Net interest income of $139.6 million compared to $112.5 million for the first quarter of 2020, an increase of $27.1 million or 24%
• Efficiency ratio (non-GAAP)¹ of 56.61% compared to 61.82% for the first quarter of 2020
• Completed the AimBank systems conversion on February 19, 2021
• Announced a branding change on April 14, 2021 from Heartland Financial to HTLF
  

	Three Months Ended March 31,
	2021				2020
Net income available to common stockholders (in millions)	$	50.8			$	20.0
Diluted earnings per common share	1.20				0.54
Return on average assets	1.19		%		0.61		%
Return on average common equity	10.49				4.98
Return on average tangible common equity (non-GAAP)(1)	15.90				8.00
Net interest margin	3.44				3.81
Net interest margin, fully tax-equivalent (non-GAAP)(1)	3.48				3.84
Efficiency ratio, fully-tax equivalent (non-GAAP)(1)	56.61				61.82