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Consolidated Statements of Income (USD $)
In Thousands, except Per Share data
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
INTEREST INCOME:        
Interest and fees on loans and leases $ 37,480 $ 38,270 $ 74,446 $ 75,598
Interest on securities:        
Taxable 7,583 8,938 14,994 18,393
Nontaxable 3,518 3,047 7,082 5,896
Interest on federal funds sold 1 1 1 1
Interest on interest bearing deposits in other financial institutions 0 7 1 12
TOTAL INTEREST INCOME 48,582 50,263 96,524 99,900
INTEREST EXPENSE:        
Interest on deposits 7,675 9,955 15,701 20,715
Interest on short-term borrowings 225 291 484 525
Interest on other borrowings 4,081 4,208 8,017 8,167
TOTAL INTEREST EXPENSE 11,981 14,454 24,202 29,407
NET INTEREST INCOME 36,601 35,809 72,322 70,493
Provision for loan and lease losses 3,845 9,955 13,854 18,849
NET INTEREST INCOME AFTER PROVISION FOR LOAN AND LEASE LOSSES 32,756 25,854 58,468 51,644
NONINTEREST INCOME:        
Service charges and fees 3,599 3,494 6,960 6,698
Loan servicing income 1,298 1,620 2,847 3,047
Trust fees 2,656 2,330 5,135 4,511
Brokerage and insurance commissions 856 785 1,704 1,497
Securities gains, net 4,756 1,050 6,845 2,506
Gain (loss) on trading account securities 81 (264) 297 (216)
Gains on sale of loans 1,308 1,083 2,710 1,881
Income on bank owned life insurance 331 293 734 607
Other noninterest income (216) 443 45 896
TOTAL NONINTEREST INCOME 14,669 10,834 27,277 21,427
NONINTEREST EXPENSES        
Salaries and employee benefits 17,480 15,574 35,666 30,997
Occupancy 2,213 2,201 4,599 4,495
Furniture and equipment 1,360 1,599 2,769 3,046
Professional fees 3,053 2,549 6,072 4,760
FDIC insurance assessments 786 1,384 2,131 2,804
Advertising 1,113 1,052 1,963 1,866
Intangible assets amortization 144 145 290 296
Net loss on repossessed assets 2,511 1,636 4,143 3,700
Other noninterest expenses 3,683 3,435 7,597 6,512
NONINTEREST EXPENSES 32,343 29,575 65,230 58,476
INCOME BEFORE INCOME TAXES 15,082 7,113 20,515 14,595
Income taxes 4,870 2,035 6,082 4,195
NET INCOME 10,212 5,078 14,433 10,400
Net income available to noncontrolling interest, net of tax 9 25 25 50
NET INCOME ATTRIBUTABLE TO HEARTLAND 10,221 5,103 14,458 10,450
Preferred dividends and discount (1,336) (1,336) (2,672) (2,672)
NET INCOME AVAILABLE TO COMMON STOCKHOLDERS $ 8,885 $ 3,767 $ 11,786 $ 7,778
EARNINGS PER COMMON SHARE - BASIC $ 0.54 $ 0.23 $ 0.72 $ 0.48
EARNINGS PER COMMON SHARE - DILUTED $ 0.54 $ 0.23 $ 0.71 $ 0.47
CASH DIVIDENDS DECLARED PER COMMON SHARE $ 0.10 $ 0.1 $ 0.20 $ 0.20