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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, 2013
Sep. 30, 2012
Sep. 30, 2013
Sep. 30, 2012
INTEREST INCOME:        
Interest and fees on loans and leases $ 40,154 $ 39,208 $ 119,707 $ 116,989
Interest on securities:        
Taxable 4,803 4,452 14,174 17,050
Nontaxable 3,443 2,896 10,001 7,786
Interest on federal funds sold 0 0 0 1
Interest on interest bearing deposits in other financial institutions 3 3 9 5
TOTAL INTEREST INCOME 48,403 46,559 143,891 141,831
INTEREST EXPENSE:        
Interest on deposits 4,769 5,504 14,911 16,883
Interest on short-term borrowings 131 215 387 652
Interest on other borrowings (includes $523 and $1,552 of interest expense related to derivatives reclassified from accumulated other comprehensive income for the three and nine months ended September 30, 2013, respectively) 3,623 4,028 11,122 12,114
TOTAL INTEREST EXPENSE 8,523 9,747 26,420 29,649
NET INTEREST INCOME 39,880 36,812 117,471 112,182
Provision for loan and lease losses 5,149 (502) 7,648 4,852
NET INTEREST INCOME AFTER PROVISION FOR LOAN AND LEASE LOSSES 34,731 37,314 109,823 107,330
NONINTEREST INCOME:        
Service charges and fees 4,487 3,944 12,775 11,240
Loan servicing income 3,984 3,016 11,461 7,832
Trust fees 2,918 2,667 8,764 7,940
Brokerage and insurance commissions 1,277 908 3,315 2,757
Securities gains, net (includes $1,118 and $6,612 of net security gains reclassified from accumulated other comprehensive income for the three and nine months ended September 30, 2013, respectively) 1,118 5,212 6,612 14,106
Gain (loss) on trading account securities 263 (163) 839 (117)
Impairment loss on securities 0 0 0 (981)
Gains on sale of loans held for sale 5,251 13,750 24,246 34,941
Valuation adjustment on mortgage servicing rights 0 (493) 496 (674)
Income on bank owned life insurance 409 382 1,129 1,131
Other noninterest income 1,011 543 2,407 3,257
TOTAL NONINTEREST INCOME 20,718 29,766 72,044 81,432
NONINTEREST EXPENSES:        
Salaries and employee benefits 28,847 27,064 88,103 76,444
Occupancy 3,387 2,596 9,796 7,612
Furniture and equipment 1,917 1,541 6,033 4,504
Professional fees 4,486 4,217 12,262 10,938
FDIC insurance assessments 745 811 2,508 2,482
Advertising 1,360 1,183 3,836 3,558
Intangible assets amortization 196 146 594 399
Net loss on repossessed assets 1,069 3,775 4,886 7,986
Other noninterest expenses 5,140 5,826 14,642 14,835
TOTAL NONINTEREST EXPENSES 47,147 47,159 142,660 128,758
INCOME BEFORE INCOME TAXES 8,302 19,921 39,207 60,004
Income taxes (includes $222 and $1,887 of income tax expense reclassified from accumulated other comprehensive income for the three and nine months ended September 30, 2013, respectively) 1,492 6,338 10,289 19,642
NET INCOME 6,810 13,583 28,918 40,362
Net (income) loss available to noncontrolling interest, net of tax 0 4 (64) 23
NET INCOME ATTRIBUTABLE TO HEARTLAND 6,810 13,587 28,854 40,385
Preferred dividends and discount (276) (949) (889) (2,991)
NET INCOME AVAILABLE TO COMMON STOCKHOLDERS $ 6,534 $ 12,638 $ 27,965 $ 37,394
EARNINGS PER COMMON SHARE - BASIC (in dollars per share) $ 0.39 $ 0.77 $ 1.65 $ 2.27
EARNINGS PER COMMON SHARE - DILUTED (in dollars per share) $ 0.38 $ 0.75 $ 1.63 $ 2.24
CASH DIVIDENDS DECLARED PER COMMON SHARE (in dollars per share) $ 0.10 $ 0.10 $ 0.30 $ 0.30