Parent Company Only Financial Information (Tables)
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12 Months Ended |
Dec. 31, 2013
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Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
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Schedule of Condensed Balance Sheet |
Condensed financial information for Heartland Financial USA, Inc. is as follows: | | | | | | | | | BALANCE SHEETS | (Dollars in thousands) | | December 31, | | 2013 | | 2012 | Assets: | | | | Cash and interest bearing deposits | $ | 17,912 |
| | $ | 17,447 |
| Trading securities | 1,801 |
| | 380 |
| Securities available for sale | 3,952 |
| | 6,027 |
| Other investments, at cost | 235 |
| | 235 |
| Investment in subsidiaries | 561,272 |
| | 517,256 |
| Other assets | 33,407 |
| | 29,303 |
| Due from subsidiaries | 6,000 |
| | 7,000 |
| Total assets | $ | 624,579 |
| | $ | 577,648 |
| Liabilities and stockholders’ equity: | | | | Other borrowings | $ | 174,153 |
| | $ | 158,752 |
| Accrued expenses and other liabilities | 10,966 |
| | 17,091 |
| Total liabilities | 185,119 |
| | 175,843 |
| Stockholders’ equity: | | | | Preferred stock | 81,698 |
| | 81,698 |
| Common stock | 18,399 |
| | 16,828 |
| Capital surplus | 91,632 |
| | 50,359 |
| Retained earnings | 265,067 |
| | 236,279 |
| Accumulated other comprehensive income (loss) | (17,336 | ) | | 16,641 |
| Treasury stock | — |
| | — |
| Total stockholders’ equity | 439,460 |
| | 401,805 |
| Total liabilities and stockholders’ equity | $ | 624,579 |
| | $ | 577,648 |
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Schedule of Condensed Income Statement |
| | | | | | | | | | | | | INCOME STATEMENTS | (Dollars in thousands) | | For the Years Ended December 31, | | 2013 | | 2012 | | 2011 | Operating revenues: | | | | | | Dividends from subsidiaries | $ | 47,750 |
| | $ | 42,800 |
| | $ | 26,400 |
| Securities gains, net | 2,316 |
| | — |
| | 1,424 |
| Gain on trading account securities | 1,421 |
| | 47 |
| | 89 |
| Other | 726 |
| | 664 |
| | 476 |
| Total operating revenues | 52,213 |
| | 43,511 |
| | 28,389 |
| Operating expenses: | | | | | | Interest | 9,206 |
| | 9,133 |
| | 9,113 |
| Salaries and benefits | 5,104 |
| | 6,191 |
| | 5,741 |
| Professional fees | 3,671 |
| | 3,100 |
| | 2,498 |
| Other operating expenses | 1,577 |
| | 2,417 |
| | 3,146 |
| Total operating expenses | 19,558 |
| | 20,841 |
| | 20,498 |
| Equity in undistributed earnings (losses) | (1,275 | ) | | 19,739 |
| | 12,852 |
| Income before income tax benefit | 31,380 |
| | 42,409 |
| | 20,743 |
| Income tax benefit | 5,409 |
| | 7,383 |
| | 7,301 |
| Net income | 36,789 |
| | 49,792 |
| | 28,044 |
| Preferred dividends and discount | (1,093 | ) | | (3,400 | ) | | (7,640 | ) | Net income available to common stockholders | $ | 35,696 |
| | $ | 46,392 |
| | $ | 20,404 |
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Schedule of Condensed Cash Flow Statement |
| | | | | | | | | | | | | STATEMENTS OF CASH FLOWS | (Dollars in thousands) | | For the Years Ended December 31, | | 2013 | | 2012 | | 2011 | Cash flows from operating activities: | | | | | | Net income | $ | 36,789 |
| | $ | 49,792 |
| | $ | 28,044 |
| Adjustments to reconcile net income to net cash provided by operating activities: | | | | | | Undistributed earnings (losses) of subsidiaries | 1,275 |
| | (19,739 | ) | | (12,852 | ) | Security gains, net | (2,316 | ) | | — |
| | (1,424 | ) | (Increase) decrease in due from subsidiaries | 1,000 |
| | (4,250 | ) | | — |
| Increase (decrease) in accrued expenses and other liabilities | (6,125 | ) | | 4,448 |
| | 5,714 |
| Increase in other assets | (4,104 | ) | | (7,163 | ) | | (2,157 | ) | Increase in trading account securities | (1,421 | ) | | (47 | ) | | (89 | ) | Other, net | 4,089 |
| | 1,776 |
| | (442 | ) | Net cash provided by operating activities | 29,187 |
| | 24,817 |
| | 16,794 |
| Cash flows from investing activities: | | | | | | Capital contributions to subsidiaries | (69,429 | ) | | (32,841 | ) | | (6,000 | ) | Purchases of other securities | — |
| | (195 | ) | | — |
| Proceeds from sales of available for sale securities | 2,925 |
| | — |
| | 1,507 |
| Proceeds from sale of other investments | — |
| | 155 |
| | — |
| Net assets acquired | 44,697 |
| | — |
| | — |
| Net cash used by investing activities | (21,807 | ) | | (32,881 | ) | | (4,493 | ) | Cash flows from financing activities: | | | | | | Net change in short-term borrowings | — |
| | — |
| | (5,000 | ) | Proceeds from other borrowings | 80 |
| | 10,000 |
| | 18,165 |
| Repayments of other borrowings | (1,255 | ) | | (6,374 | ) | | (3,938 | ) | Proceeds from issuance of preferred stock | — |
| | — |
| | 81,698 |
| Payment for the repurchase of preferred stock | — |
| | — |
| | (81,698 | ) | Redemption of warrant | — |
| | — |
| | (1,800 | ) | Cash dividends paid | (8,001 | ) | | (11,695 | ) | | (11,172 | ) | Purchase of treasury stock | (2,004 | ) | | (2,937 | ) | | (389 | ) | Proceeds from issuance of common stock | 4,265 |
| | 9,557 |
| | 1,428 |
| Net cash provided (used) by financing activities | (6,915 | ) | | (1,449 | ) | | (2,706 | ) | Net increase (decrease) in cash and cash equivalents | 465 |
| | (9,513 | ) | | 9,595 |
| Cash and cash equivalents at beginning of year | 17,447 |
| | 26,960 |
| | 17,365 |
| Cash and cash equivalents at end of year | $ | 17,912 |
| | $ | 17,447 |
| | $ | 26,960 |
| Supplemental disclosure: | | | | | | Stock consideration granted for acquisition | $ | 38,755 |
| | $ | — |
| | $ | — |
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