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Consolidated Statements of Income (Unaudited) (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
INTEREST INCOME:        
Interest and fees on loans and leases $ 49,311 $ 40,154 $ 143,796 $ 119,707
Interest on securities:        
Taxable 7,547 4,803 22,755 14,174
Nontaxable 3,249 3,443 10,079 10,001
Interest on federal funds sold 1 0 1 0
Interest on interest bearing deposits in other financial institutions 6 3 20 9
TOTAL INTEREST INCOME 60,114 48,403 176,651 143,891
INTEREST EXPENSE:        
Interest on deposits 4,655 4,769 14,010 14,911
Interest on short-term borrowings 227 131 655 387
Interest on other borrowings (includes $577 and $523 of interest expense related to derivatives reclassified from accumulated other comprehensive income (loss) for the three months ended September 30, 2014 and 2013, respectively, and $1,671 and $1,552 of interest expense related to derivatives reclassified from accumulated other comprehensive income (loss) for the nine months ended September 30, 2014 and 2013, respectively) 3,741 3,623 11,084 11,122
TOTAL INTEREST EXPENSE 8,623 8,523 25,749 26,420
NET INTEREST INCOME 51,491 39,880 150,902 117,471
Provision for loan and lease losses 2,553 5,149 11,635 7,648
NET INTEREST INCOME AFTER PROVISION FOR LOAN AND LEASE LOSSES 48,938 34,731 139,267 109,823
NONINTEREST INCOME:        
Service charges and fees 4,857 4,487 15,007 12,775
Loan servicing income 1,319 598 4,223 865
Trust fees 3,194 2,918 9,747 8,764
Brokerage and insurance commissions 1,044 1,277 3,325 3,315
Securities gains, net (includes $825 and $1,118 of net security gains reclassified from accumulated other comprehensive income (loss) for the three months ended September 30, 2014 and 2013, respectively, and $2,460 and $6,612 of net security gains reclassified from accumulated other comprehensive income (loss) for the nine months ended September 30, 2014 and 2013, respectively.) 825 1,118 2,460 6,612
Gain (loss) on trading account securities 0 263 (38) 839
Gains on sale of loans held for sale 8,384 8,637 23,559 34,842
Loss on sales/valuations of other real estate and repossessed assets, net (444) (339) (1,365) (2,440)
Valuation adjustment on mortgage servicing rights 0 0 0 496
Income on bank owned life insurance 371 409 1,073 1,129
Other noninterest income 612 1,011 1,635 2,407
TOTAL NONINTEREST INCOME 20,162 20,379 59,626 69,604
NONINTEREST EXPENSES:        
Salaries and employee benefits 33,546 28,847 98,428 88,103
Occupancy 3,807 3,387 11,841 9,796
Furniture and equipment 2,033 1,917 6,008 6,033
Professional fees 4,429 4,486 13,169 12,262
FDIC insurance assessments 888 745 2,848 2,508
Advertising 1,383 1,360 4,082 3,836
Intangible assets amortization 521 196 1,736 594
Other real estate and loan collection expenses 215 730 1,785 2,446
Other noninterest expenses 7,389 5,140 20,590 14,642
TOTAL NONINTEREST EXPENSES 54,211 46,808 160,487 140,220
INCOME BEFORE INCOME TAXES 14,889 8,302 38,406 39,207
Income taxes (includes $93 and $222 of income tax expense reclassified from accumulated other comprehensive income (loss) for the three months ended September 30, 2014 and 2013, respectively, and $296 and $1,887 of income tax expense reclassified from accumulated other comprehensive income (loss) for the nine months ended September 30, 2014 and 2013, respectively) 2,916 1,492 8,769 10,289
NET INCOME 11,973 6,810 29,637 28,918
Net income available to noncontrolling interest, net of tax 0 0 0 (64)
NET INCOME ATTRIBUTABLE TO HEARTLAND 11,973 6,810 29,637 28,854
Preferred dividends and discount (205) (276) (613) (889)
NET INCOME AVAILABLE TO COMMON STOCKHOLDERS $ 11,768 $ 6,534 $ 29,024 $ 27,965
EARNINGS PER COMMON SHARE - BASIC (in dollars per share) $ 0.64 $ 0.39 $ 1.57 $ 1.65
EARNINGS PER COMMON SHARE - DILUTED (in dollars per share) $ 0.63 $ 0.38 $ 1.55 $ 1.63
CASH DIVIDENDS DECLARED PER COMMON SHARE (in dollars per share) $ 0.10 $ 0.10 $ 0.30 $ 0.30