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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
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 u9UjWJuqD6LaPjHY9fUJpw==

<SEC-DOCUMENT>0001169232-05-003670.txt : 20050722
<SEC-HEADER>0001169232-05-003670.hdr.sgml : 20050722
<ACCEPTANCE-DATETIME>20050722144652
ACCESSION NUMBER:		0001169232-05-003670
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20050722
FILED AS OF DATE:		20050722
DATE AS OF CHANGE:		20050722

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			RHODES ANN M
		CENTRAL INDEX KEY:			0001259732

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-12668
		FILM NUMBER:		05968448

	MAIL ADDRESS:	
		STREET 1:		500 ST THOMAS COURT
		CITY:			IOWA CITY
		STATE:			IA
		ZIP:			52245

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			HILLS BANCORPORATION
		CENTRAL INDEX KEY:			0000732417
		STANDARD INDUSTRIAL CLASSIFICATION:	STATE COMMERCIAL BANKS [6022]
		IRS NUMBER:				421208067
		STATE OF INCORPORATION:			IA
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		131 MAIN ST
		CITY:			HILLS
		STATE:			IA
		ZIP:			52235
		BUSINESS PHONE:		3196792291

	MAIL ADDRESS:	
		STREET 1:		131 MAIN ST
		CITY:			HILLS
		STATE:			IA
		ZIP:			52235
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>d05-64600_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2005-07-22</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000732417</issuerCik>
        <issuerName>HILLS BANCORPORATION</issuerName>
        <issuerTradingSymbol>HBIA.PK</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001259732</rptOwnerCik>
            <rptOwnerName>RHODES ANN M</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>500 ST. THOMAS COURT</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>IOWA CITY</rptOwnerCity>
            <rptOwnerState>IA</rptOwnerState>
            <rptOwnerZipCode>52245</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2005-07-22</value>
                <footnoteId id="F1"/>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>2165</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>39.25</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>1000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Sale of 2,165 shares of stock to nine directors of Hills Bancorporation</footnote>
    </footnotes>

    <remarks>James G. Pratt P.O.A. - Limited Power
of Attorney for Section 16
Reporting Obligations - Dated October 22, 2002</remarks>

    <ownerSignature>
        <signatureName>/s/ Ann M. Rhodes by James Pratt</signatureName>
        <signatureDate>2005-07-22</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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