Document


CONTACT:			FOR IMMEDIATE RELEASE
Bryan R. McKeag			April 25, 2022
Executive Vice President
Chief Financial Officer
(563) 589-1994
BMcKeag@htlf.com

UPDATING AND REPLACING HEARTLAND FINANCIAL USA, INC. ("HTLF") REPORTS QUARTERLY RESULTS AS OF MARCH 31, 2022

Please replace with this revised version to update certain Q1 2022 financial information issued April 25, 2022, at 4:00 PM ET. Please refer to Form 8-K/A furnished May 9, 2022 for additional information.

The updated release reads:

Highlights and Developments


§			Quarterly loan growth of $348.6 million or 4%, exclusive of Paycheck Protection Program ("PPP") loans
§			Quarterly non-time deposit growth of $219.4 million or 1%
§			Quarterly net income available to common stockholders of $41.1 million
§			Diluted earnings per common share of $0.97



§			Nonperforming assets to total assets of 0.34% and 30-89 day loan delinquencies were 0.10% of total loans


	Three Months Ended March 31,
		2022			2021
Net income available to common stockholders (in millions)		$	41.1		$	50.8
Diluted earnings per common share		0.97			1.20

Return on average assets		0.91		%	1.19		%

Return on average common equity		8.32			10.49
Return on average tangible common equity (non-GAAP)(1)		12.41			15.90
Net interest margin		3.08			3.44
Net interest margin, fully tax-equivalent (non-GAAP)(1)		3.12			3.48
Efficiency ratio, fully-tax equivalent (non-GAAP)(1)		64.65			56.61

(1) Refer to "Non-GAAP Measures" in this earnings release for additional information on the usage and presentation of these non-GAAP measures, and refer to the financial tables for reconciliations to the most directly comparable GAAP measures.


"HTLF is off to a great start in 2022. The execution of our growth strategies and recent investments in talent and technology resulted in strong loan growth, increased fee revenue and excellent credit metrics for the first quarter."
Bruce K. Lee, president and chief executive officer, HTLF

Dubuque, Iowa, Monday, April 25, 2022-Heartland Financial USA, Inc. (NASDAQ: HTLF) today reported the following results for the quarter ended March 31, 2022 compared to the quarter ended March 31, 2021:

•Net income available to common stockholders of $41.1 million compared to $50.8 million, a decrease of $9.7 million or 19%.

•Earnings per diluted common share of $0.97 compared to $1.20, a decrease of $0.23 or 19%.

•Net interest income of $134.7 million compared to $139.6 million, a decrease of $4.9 million or 4%.

•Return on average common equity was 8.32% and return on average assets was 0.91% compared to 10.49% and 1.19%.

•Return on average tangible common equity (non-GAAP) was 12.41% compared to 15.90%.

"HTLF is off to a great start in 2022. The execution of our growth strategies and recent investments in talent and technology resulted in strong loan growth, increased fee revenue and excellent credit metrics for the first quarter," said Bruce K. Lee, president and chief executive officer of HTLF.

Charter Consolidation Update

The HTLF Board of Directors unanimously approved a plan to consolidate its 11 separate bank charters. The consolidation project is underway and is expected to be completed by the end of 2023. The remaining estimated restructuring costs of the project are approximately $17.0 million. The ongoing financial benefits from consolidation are expected to be approximately $20.0 million when the project is completed and are expected to arise from the elimination of redundancies and improved operating processes. The consolidation will also increase operating capacity to be leveraged with future growth and provide better alignment of products and services.

Net Interest Income and Net Interest Margin

Net interest margin, expressed as a percentage of average earning assets, was 3.08% (3.12% on a fully tax-equivalent basis, non-GAAP) for the first quarter of 2022 compared to 3.44% (3.48% on a fully tax-equivalent basis, non-GAAP) during the first quarter of 2021.

Total interest income and average earning asset changes for the first quarter of 2022 compared to the first quarter of 2021 were:

•Total interest income was $141.3 million, which was a decrease of $6.2 million or 4% from $147.5 million and primarily attributable to lower yields and a reduction of PPP loan interest income. PPP loan interest income totaled $4.3 million compared to $10.1 million, which was a decrease of $5.8 million or 57%.

•Total interest income on a tax-equivalent basis (non-GAAP) was $143.4 million, which was a decrease of $5.8 million or 4% from $149.2 million.

•Average earning assets increased $1.30 billion or 8% to $17.76 billion compared to $16.46 billion, which was primarily attributable to increases in the securities portfolio.

•The average rate on earning assets decreased 41 basis points to 3.27% compared to 3.68%, which was primarily due to a shift in earning asset mix. Total average securities were 43% of total average earning assets compared to 39%.

Total interest expense and average interest bearing liability changes for the first quarter of 2022 compared to the first quarter of 2021 were:

•Total interest expense was $6.6 million, a decrease of $1.3 million or 16% from $7.8 million, based on a decrease in the average interest rate paid, which was partially offset by an increase in average interest bearing liabilities.

•The average interest rate paid on interest bearing liabilities decreased to 0.26% compared to 0.32%.

•Average interest bearing deposits increased $695.6 million or 8% to $9.96 billion from $9.27 billion which was primarily attributable to deposit growth.

•The average interest rate paid on interest bearing deposits decreased 7 basis points to 0.12% compared to 0.19%.

•Average borrowings decreased $159.4 million or 24% to $491.8 million from $651.2 million, which was primarily attributable to reduced advances from the PPP lending fund used to fund PPP loans to borrowers. Average advances from the PPP lending fund were $0 compared to $143.7 million. The average interest rate paid on borrowings was 2.97% compared to 2.15%.

Net interest income changes for the first quarter of 2022 compared to the first quarter of 2021 were:

•Net interest income totaled $134.7 million compared to $139.6 million, which was a decrease of $4.9 million or 4%. PPP loan interest income totaled $4.3 million compared to $10.1 million, which was a decrease of $5.8 million or 57%.

•Net interest income on a tax-equivalent basis (non-GAAP) totaled $136.8 million compared to $141.4 million, which was a decrease of $4.6 million or 3%.

Noninterest Income and Noninterest Expense

Total noninterest income was $34.6 million during the first quarter of 2022 compared to $30.3 million during the first quarter of 2021, an increase of $4.3 million or 14%. Significant changes within the noninterest income category for the first quarter of 2022 compared to the first quarter of 2021 were:

•Service charges and fees increased $1.6 million or 12% to $15.3 million from $13.7 million. Credit card revenue was $5.6 million compared to $4.3 million, which was an increase of $1.3 million or 31%.

•Net security gains totaled $2.9 million compared to net losses of $30,000.

•Net gains on sales of loans held for sale totaled $3.4 million compared to $6.4 million, which was a decrease of $3.0 million or 47% and was primarily attributable to a decrease of loans sold to the secondary market.

•Other noninterest income totaled $3.9 million compared to $1.2 million, which was an increase of $2.8 million. Commercial swap fee income and syndication income totaled $3.0 million compared to $77,000.

Total noninterest expense was $110.8 million during the first quarter of 2022 compared to $102.4 million during the first quarter of 2021, which was an increase of $8.4 million or 8%. Significant changes within the noninterest expense category for the first quarter of 2022 compared to the first quarter of 2021 were:

•Salaries and employee benefits totaled $66.2 million compared to $59.1 million, which was an increase of $7.1 million or 12%. The increase was primarily attributable to higher salary and health care expenses as a result of more full time equivalent employees and normalized health care usage. Full-time equivalent employees increased 77 to 2,208 compared to 2,131.

•Professional fees increased $1.7 million or 12% to $15.2 million compared to $13.5 million. The increase was primarily attributable to higher cloud based computing expenses.

•Other noninterest expenses increased $2.5 million or 22% to $14.1 million compared to $11.6 million. The following items impacted the first quarter of 2022 compared to the first quarter of 2021:

•Travel and staff and customer entertainment expenses increased $651,000 to $1.1 million from $482,000. In-person meetings and events were limited in the first quarter of 2021 due to the pandemic.

•Credit card processing and rebate expenses increased $1.2 million or 53% to $3.5 million from $2.3 million, which was primarily attributable to increased volume.

The effective tax rate was 21.95% for the first quarter of 2022 compared to 22.50% for the first quarter of 2021. The following items impacted the first quarter 2022 and 2021 tax calculations:

•Solar energy tax credits of $0 compared to $97,000.

•Federal low-income housing tax credits of $135,000 in each quarterly calculation.

•New markets tax credits of $75,000 in each quarterly calculation.

•Historic rehabilitation tax credits of $63,000 compared to $0.

•Tax-exempt interest income as a percentage of pre-tax income of 12.42% compared to 9.72%.

•Tax benefit of $172,000 compared to $153,000 resulting from the vesting of restricted stock units.

Total Assets, Total Loans and Total Deposits

Total assets were $19.23 billion at March 31, 2022, a decrease of $43.7 million or less than 1% from $19.27 billion at year-end 2021. Securities represented 37% and 40% of total assets at March 31, 2022, and December 31, 2021, respectively.

Total loans held to maturity were $10.18 billion at March 31, 2022, compared to $9.95 billion at December 31, 2021, which was an increase of $222.8 million or 2%. Excluding total PPP loans, loans increased $348.6 million or 4% during the first quarter of 2022.

Significant changes by loan category at March 31, 2022 compared to December 31, 2021 included:

•Commercial and business lending, which includes commercial and industrial, PPP and owner occupied commercial real estate loans, increased $69.4 million or 1% to $5.15 billion compared to $5.09 billion.

•PPP loans originated in 2020 ("PPP I") decreased $21.4 million or 79%. PPP loans originated in 2021 ("PPP II") decreased $104.4 million or 60%.

•Excluding total PPP loans, commercial and business lending increased $195.2 million or 4% to $5.08 billion from $4.89 billion.

•Commercial real estate lending, which includes non-owner occupied commercial real estate and construction loans, increased $137.5 million or 5% to $3.00 billion compared to $2.87 billion.

Total deposits were $16.67 billion as of March 31, 2022, compared to $16.42 billion at December 31, 2021. Significant deposit changes by category at March 31, 2022 compared to December 31, 2021 included:

•Demand deposits decreased $119.1 million or 2% to $6.38 billion compared to $6.50 billion.

•Savings deposits increased $338.5 million or 4% to $9.24 billion from $8.90 billion.

Provision and Allowance

Provision and Allowance for Credit Losses for Loans

Provision for credit losses for loans for the first quarter of 2022 was $2.6 million, which was an increase of $2.6 million from provision expense of $16,000 recorded in the first quarter of 2021. The provision benefit for the first quarter of 2022 was impacted by several factors, including:

•charge-offs totaling $13.2 million, including $9.2 million related to two lending relationships for which information received subsequent to March 31, 2022 indicated collateral deficiencies due to customer fraud,

•decrease in nonperforming loans of $27.5 million to $64.4 million or 0.63% of total loans compared to $91.9 million or 0.91% of total loans at March 31, 2021,

•nonpass loans declined to 6.3% of total loans compared to 11.5% of total loans at March 31, 2021,

•loans delinquent 30-89 days as a percent of total loans fell to 0.10% compared to 0.16% at March 31, 2021, and

•improved macroeconomic factors compared to the first quarter of 2021.

The allowance for credit losses for loans totaled $100.5 million and $110.1 million at March 31, 2022, and December 31, 2021, respectively. The following items have impacted the allowance for credit losses for loans for the three months ended March 31, 2022:

•Provision for the three months ended March 31, 2022, totaled $2.6 million.

•Net charge offs of $12.2 million were recorded for the first three months of 2022.

Provision and Allowance for Credit Losses for Unfunded Commitments

The allowance for unfunded commitments totaled $16.1 million at March 31, 2022, which was an increase of $617,000 from $15.5 million at December 31, 2021. Unfunded commitments increased $300.1 million to $4.13 billion at March 31, 2022 compared to $3.83 billion at December 31, 2021.

Total Provision and Allowance for Lending Related Credit Losses

The total provision for lending related credit losses was $3.2 million for the first quarter of 2022 compared to $645,000 for the first quarter of 2021. The total allowance for lending related credit losses was $116.6 million or 1.15% of total loans at March 31, 2022, compared to $125.6 million or 1.26% of total loans as of December 31, 2021.

Nonperforming Assets

Nonperforming assets decreased $6.0 million or 8% to $65.9 million or 0.34% of total assets at March 31, 2022, compared to $71.9 million or 0.37% of total assets at December 31, 2021. Nonperforming loans were $64.4 million

or 0.63% of total loans at March 31, 2022, compared to $69.9 million or 0.70% of total loans at December 31, 2021. At March 31, 2022, loans delinquent 30-89 days were 0.10% of total loans compared to 0.07% of total loans at December 31, 2021.

Non-GAAP Financial Measures

This earnings release contains references to financial measures which are not defined by generally accepted accounting principles ("GAAP"). Management believes the non-GAAP measures are helpful for investors to analyze and evaluate the company's financial condition and operating results. However, these non-GAAP measures have inherent limitations and should not be considered a substitute for operating results determined in accordance with GAAP. Additionally, because non-GAAP measures are not standardized, it may not be possible to compare the non-GAAP measures in this earnings release with other companies' non-GAAP measures. Reconciliations of each non-GAAP measure to the most directly comparable GAAP measure may be found in the financial tables in this earnings release.

Below are the non-GAAP measures included in this earnings release, management's reason for including each measure and the method of calculating each measure:

•Annualized net interest margin, fully tax-equivalent, adjusts net interest income for the tax-favored status of certain loans and securities. Management believes this measure enhances the comparability of net interest income arising from taxable and tax-exempt sources.

•Efficiency ratio, fully tax equivalent, expresses noninterest expenses as a percentage of fully tax-equivalent net interest income and noninterest income. This efficiency ratio is presented on a tax-equivalent basis which adjusts net interest income and noninterest expenses for the tax favored status of certain loans, securities, and tax credit projects. Management believes the presentation of this non-GAAP measure provides supplemental useful information for proper understanding of the financial results as it enhances the comparability of income and expenses arising from taxable and nontaxable sources and excludes specific items as noted in reconciliation contained in this earnings release.

•Net interest income, fully tax equivalent, is net income adjusted for the tax-favored status of certain loans and securities. Management believes this measure enhances the comparability of net interest income arising from taxable and tax-exempt sources.

•Tangible book value per common share is total common equity less goodwill and core deposit and customer relationship intangibles, net, divided by common shares outstanding, net of treasury. This measure is included as it is considered to be a critical metric to analyze and evaluate use of equity, financial condition and capital strength.

•Tangible common equity ratio is total common equity less goodwill and core deposit and customer relationship intangibles, net, divided by total assets less goodwill and core deposit and customer relationship intangibles, net. This measure is included as it is considered to be a critical metric to analyze and evaluate financial condition and capital strength.

•Annualized return on average tangible common equity is net income excluding intangible amortization calculated as (1) net income excluding tax-effected core deposit and customer relationship intangibles amortization, divided by (2) average common equity less goodwill and core deposit and customer relationship intangibles, net. This measure is included as it is considered to be a critical metric to analyze and evaluate use of equity, financial condition and capital strength.

Conference Call Details

HTLF will host a conference call for shareholders, analysts and other interested parties at 5:00 p.m. EDT today. To join, please register in advance of the conference using the link provided below. Upon registering, participant dial-in numbers, Direct Event passcode and unique registrant ID will be provided. Direct Event online registration can be found at: http://www.directeventreg.com/registration/event/5974087. In the 10 minutes prior to the call start time, participants need to use the conference access information provided in the email received at the point of registering. A replay will be available until April 24, 2023, by logging on to www.htlf.com.

About HTLF

Heartland Financial USA, Inc., operating under the brand name HTLF, is a financial services company with assets of $19.23 billion. HTLF has banks serving communities in Arizona, California, Colorado, Illinois, Iowa, Kansas, Minnesota, Missouri, Montana, New Mexico, Texas and Wisconsin. HTLF is committed to its core commercial business, supported by a strong retail operation, and provides a diversified line of financial services including

treasury management, residential mortgage, wealth management, investment and insurance. Additional information is available at www.htlf.com.

Safe Harbor Statement

This release (including any information incorporated herein by reference) contains, and future oral and written statements of HTLF and its management may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, with respect to the business, financial condition, results of operations, plans, objectives and future performance of HTLF.

Any statements about HTLF's expectations, beliefs, plans, objectives, assumptions or future events or performance are not historical facts and may be forward-looking. Forward-looking statements may include information about possible or assumed future results of HTLF's operations or performance, and may be based upon beliefs, expectations and assumptions of HTLF's management. These forward-looking statements are generally identified by the use of the words such as "believe", "expect", "anticipate", "plan", "intend", "estimate", "project", "may", "will", "would", "could", "should", "may", "view", "opportunity", "potential", or similar or negative expressions of these words or phrases that are used in this release, and future oral and written statements of HTLF and its management. Although HTLF may make these statements based on management’s experience, beliefs, expectations, assumptions and best estimate of future events, the ability of HTLF to predict results or the actual effect or outcomes of plans or strategies is inherently uncertain, and there may be events or factors that management has not anticipated. Therefore, the accuracy and achievement of such forward-looking statements and estimates are subject to a number of risks, many of which are beyond the ability of management to control or predict, that could cause actual results to differ materially from those in its forward-looking statements. These factors, which HTLF currently believes could have a material effect on its operations and future prospects, are detailed below and in the risk factors in HTLF's reports filed with the Securities and Exchange Commission ("SEC"), including the "Risk Factors" section under Item 1A of Part I of HTLF’s Annual Report on Form 10-K for the year ended December 31, 2021, include, among others:

•Coronavirus Disease 2019 ("COVID-19") Pandemic Risks, including risks related to the ongoing COVID-19 pandemic and measures enacted by the U.S. federal and state governments and adopted by private businesses in response to the COVID-19 pandemic;

•Economic and Market Conditions Risks, including risks related to changes in the U.S. economy in general and in the local economies in which HTLF conducts its operations and future civil unrest, natural disasters, terrorist threats or acts of war;

•Credit Risks, including risks of increasing credit losses due to deterioration in the financial condition of HTLF's borrowers, changes in asset and collateral values and climate and other borrower industry risks which may impact the provision for credit losses and net charge-offs;

•Liquidity and Interest Rate Risks, including the impact of capital market conditions and changes in monetary policy on our borrowings and net interest income;

•Operational Risks, including processing, information systems, cybersecurity, vendor, business interruption, and fraud risks;

•Strategic and External Risks, including economic, political and competitive forces impacting our business;

•Legal, Compliance and Reputational Risks, including regulatory and litigation risks; and

•Risks of Owning Stock in HTLF, including stock price volatility and dilution as a result of future equity offerings and acquisitions.

There can be no assurance that other factors not currently anticipated by HTLF will not materially and adversely affect HTLF's business, financial condition and results of operations. In addition, many of these risks and uncertainties are currently amplified by and may continue to be amplified by the COVID-19 pandemic and the impact of varying governmental responses that affect HTLF’s customers and the economies where they operate. Additionally, all statements in this release, including forward-looking statements speak only as of the date they are made. HTLF does not undertake and specifically disclaims any obligation to publicly release the results of any revisions which may be made to any forward-looking statement to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events or to otherwise update any statement in light of new information or future events. Further information concerning HTLF and its business, including additional factors that could materially affect HTLF’s financial results, is included in HTLF's filings with the SEC.

-FINANCIAL TABLES FOLLOW-

###


HEARTLAND FINANCIAL USA, INC.
CONSOLIDATED FINANCIAL HIGHLIGHTS (Unaudited)
DOLLARS IN THOUSANDS, EXCEPT PER SHARE DATA
	For the Three Months Ended March 31,
		2022		2021
Interest Income
Interest and fees on loans		$	102,369	$	112,439
Interest on securities:
Taxable		32,620		30,443
Nontaxable		6,202		4,503
Interest on federal funds sold		—		1
Interest on deposits with other banks and short-term investments		71		66
Total Interest Income		141,262		147,452
Interest Expense
Interest on deposits		2,977		4,395
Interest on short-term borrowings		46		152
Interest on other borrowings		3,560		3,300
Total Interest Expense		6,583		7,847
Net Interest Income		134,679		139,605
Provision (benefit) for credit losses		3,245		(648)
Net Interest Income After Provision for Credit Losses		131,434		140,253
Noninterest Income
Service charges and fees		15,251		13,671
Loan servicing income		286		838
Trust fees		6,079		5,777
Brokerage and insurance commissions		869		853
Securities gains/(losses), net		2,872		(30)
Unrealized gain/ (loss) on equity securities, net		(283)		(110)

Net gains on sale of loans held for sale		3,411		6,420
Valuation adjustment on servicing rights		1,658		917
Income on bank owned life insurance		524		829
Other noninterest income		3,902		1,152
Total Noninterest Income		34,569		30,317
Noninterest Expense
Salaries and employee benefits		66,174		59,062
Occupancy		7,362		7,918
Furniture and equipment		3,519		3,093
Professional fees		15,156		13,490

Advertising		1,555		1,469
Core deposit and customer relationship intangibles amortization		2,054		2,516
Other real estate and loan collection expenses, net		195		135
(Gain)/loss on sales/valuations of assets, net		46		194
Acquisition, integration and restructuring costs		576		2,928
Partnership investment in tax credit projects		77		35
Other noninterest expenses		14,083		11,583
Total Noninterest Expense		110,797		102,423
Income Before Income Taxes		55,206		68,147
Income taxes		12,117		15,333
Net Income		43,089		52,814


Preferred dividends		(2,013)		(2,013)

Net Income Available to Common Stockholders		$	41,076	$	50,801
Earnings per common share-diluted		$	0.97	$	1.20
Weighted average shares outstanding-diluted		42,540,953		42,335,747


HEARTLAND FINANCIAL USA, INC.
CONSOLIDATED FINANCIAL HIGHLIGHTS (Unaudited)
DOLLARS IN THOUSANDS, EXCEPT PER SHARE DATA
	For the Quarter Ended
	3/31/2022		12/31/2021		9/30/2021		6/30/2021		3/31/2021
Interest Income
Interest and fees on loans	$	102,369	$	107,721	$	112,062	$	111,915	$	112,439
Interest on securities:
Taxable	32,620		30,637		32,384		31,546		30,443
Nontaxable	6,202		5,595		4,609		4,561		4,503
Interest on federal funds sold	—		—		—		—		1
Interest on deposits with other banks and short-term investments	71		86		132		60		66
Total Interest Income	141,262		144,039		149,187		148,082		147,452
Interest Expense
Interest on deposits	2,977		3,168		3,444		3,790		4,395
Interest on short-term borrowings	46		123		98		98		152
Interest on other borrowings	3,560		3,554		3,102		2,976		3,300
Total Interest Expense	6,583		6,845		6,644		6,864		7,847
Net Interest Income	134,679		137,194		142,543		141,218		139,605
Provision (benefit) for credit losses	3,245		(5,313)		(4,534)		(7,080)		(648)
Net Interest Income After Provision for Credit Losses	131,434		142,507		147,077		148,298		140,253
Noninterest Income
Service charges and fees	15,251		15,349		15,551		15,132		13,671
Loan servicing income	286		781		784		873		838
Trust fees	6,079		6,380		6,221		6,039		5,777
Brokerage and insurance commissions	869		962		866		865		853
Securities gains/(losses), net	2,872		1,563		1,535		2,842		(30)
Unrealized gain/ (loss) on equity securities, net	(283)		(27)		112		83		(110)

Net gains on sale of loans held for sale	3,411		4,151		5,281		4,753		6,420
Valuation adjustment on servicing rights	1,658		502		195		(526)		917
Income on bank owned life insurance	524		1,056		940		937		829
Other noninterest income	3,902		2,013		1,239		2,166		1,152
Total Noninterest Income	34,569		32,730		32,724		33,164		30,317
Noninterest Expense
Salaries and employee benefits	66,174		63,031		60,689		57,332		59,062
Occupancy	7,362		7,282		7,366		7,399		7,918
Furniture and equipment	3,519		3,364		3,365		3,501		3,093
Professional fees	15,156		17,631		17,242		16,237		13,490

Advertising	1,555		2,218		1,921		1,649		1,469
Core deposit and customer relationship intangibles amortization	2,054		2,169		2,295		2,415		2,516
Other real estate and loan collection expenses, net	195		363		78		414		135
(Gain)/loss on sales/valuations of assets, net	46		214		(3)		183		194
Acquisition, integration and restructuring costs	576		1,989		204		210		2,928
Partnership investment in tax credit projects	77		2,549		2,374		1,345		35
Other noninterest expenses	14,083		14,576		15,096		12,691		11,583
Total Noninterest Expense	110,797		115,386		110,627		103,376		102,423
Income Before Income Taxes	55,206		59,851		69,174		78,086		68,147
Income taxes	12,117		10,271		13,250		16,481		15,333
Net Income	43,089		49,580		55,924		61,605		52,814


Preferred dividends	(2,013)		(2,012)		(2,013)		(2,012)		(2,013)

Net Income Available to Common Stockholders	$	41,076	$	47,568	$	53,911	$	59,593	$	50,801
Earnings per common share-diluted	$	0.97	$	1.12	$	1.27	$	1.41	$	1.20
Weighted average shares outstanding-diluted	42,540,953		42,479,442		42,415,993		42,359,873		42,335,747


HEARTLAND FINANCIAL USA, INC.
CONSOLIDATED FINANCIAL HIGHLIGHTS (Unaudited)
DOLLARS IN THOUSANDS, EXCEPT PER SHARE DATA
	As of
	3/31/2022		12/31/2021		9/30/2021		6/30/2021		3/31/2021
Assets
Cash and due from banks	$	198,559	$	163,895	$	192,247	$	208,702	$	198,177
Interest bearing deposits with other banks and short-term investments	406,343		271,704		135,158		240,426		269,685
Cash and cash equivalents	604,902		435,599		327,405		449,128		467,862
Time deposits in other financial institutions	2,894		2,894		3,138		3,138		3,138
Securities:

Carried at fair value	7,025,243		7,530,374		7,449,936		6,543,978		6,370,495
Held to maturity, at cost, less allowance for credit losses	81,785		84,709		85,354		85,439		85,293
Other investments, at cost	82,751		82,567		83,332		76,809		74,935
Loans held for sale	22,685		21,640		37,078		33,248		43,037
Loans:
Held to maturity	10,177,385		9,954,572		9,854,907		10,012,014		10,050,456

Allowance for credit losses	(100,522)		(110,088)		(117,533)		(120,726)		(130,172)
Loans, net	10,076,863		9,844,484		9,737,374		9,891,288		9,920,284
Premises, furniture and equipment, net	213,752		215,827		221,996		226,358		225,047
Goodwill	576,005		576,005		576,005		576,005		576,005
Core deposit and customer relationship intangibles, net	30,934		32,988		35,157		37,452		39,867
Servicing rights, net	8,102		6,890		6,351		6,201		6,953
Cash surrender value on life insurance	192,267		191,722		190,576		189,619		188,521
Other real estate, net	1,422		1,927		4,744		6,314		6,236

Other assets	311,274		246,923		237,779		246,029		236,754
Total Assets	$	19,230,879	$	19,274,549	$	18,996,225	$	18,371,006	$	18,244,427
Liabilities and Equity
Liabilities
Deposits:
Demand	$	6,376,249	$	6,495,326	$	6,537,722	$	6,299,289	$	6,175,946
Savings	9,236,427		8,897,909		8,416,204		8,189,223		8,179,251
Time	1,054,008		1,024,020		1,068,317		1,126,606		1,203,854
Total deposits	16,666,684		16,417,255		16,022,243		15,615,118		15,559,051

Short-term borrowings	107,372		131,597		265,620		152,563		140,597
Other borrowings	372,290		372,072		371,765		271,244		349,514
Accrued expenses and other liabilities	152,676		171,447		164,345		172,295		139,058
Total Liabilities	17,299,022		17,092,371		16,823,973		16,211,220		16,188,220
Stockholders' Equity
Preferred equity	110,705		110,705		110,705		110,705		110,705
Common stock	42,370		42,275		42,250		42,245		42,174
Capital surplus	1,073,048		1,071,956		1,068,913		1,066,765		1,063,497
Retained earnings	992,655		962,994		926,834		883,484		833,171
Accumulated other comprehensive income (loss)	(286,921)		(5,752)		23,550		56,587		6,660

Total Equity	1,931,857		2,182,178		2,172,252		2,159,786		2,056,207


Total Liabilities and Equity	$	19,230,879	$	19,274,549	$	18,996,225	$	18,371,006	$	18,244,427


HEARTLAND FINANCIAL USA, INC.
CONSOLIDATED FINANCIAL HIGHLIGHTS (Unaudited)
DOLLARS IN THOUSANDS, EXCEPT PER SHARE DATA AND FULL TIME EQUIVALENT EMPLOYEE DATA
	For the Quarter Ended
	3/31/2022			12/31/2021			9/30/2021			6/30/2021			3/31/2021
Average Balances
Assets	$	19,229,872		$	19,151,691		$	18,608,775		$	18,293,756		$	17,964,723
Loans, net of unearned	10,043,594			9,886,027			9,920,047			10,072,071			9,952,152
Deposits	16,459,378			16,265,476			15,817,778			15,576,345			15,044,561
Earning assets	17,757,067			17,681,917			17,123,824			16,819,978			16,460,124
Interest bearing liabilities	10,453,400			10,207,255			9,881,350			9,871,302			9,917,159
Common equity	2,003,424			2,061,973			2,072,593			1,980,904			1,963,674
Total stockholders' equity	2,114,129			2,172,678			2,183,298			2,091,609			2,074,379
Tangible common equity (non-GAAP)(1)	1,395,488			1,451,950			1,460,309			1,366,285			1,346,270

Key Performance Ratios
Annualized return on average assets	0.91		%	1.03		%	1.19		%	1.35		%	1.19		%

Annualized return on average common equity (GAAP)	8.32			9.15			10.32			12.07			10.49
Annualized return on average tangible common equity (non-GAAP)(1)	12.41			13.47			15.14			18.05			15.90

Annualized ratio of net charge-offs/(recoveries) to average loans	0.49			0.03			(0.05)			0.12			0.06
Annualized net interest margin (GAAP)	3.08			3.08			3.30			3.37			3.44
Annualized net interest margin, fully tax-equivalent (non-GAAP)(1)	3.12			3.12			3.34			3.41			3.48
Efficiency ratio, fully tax-equivalent (non-GAAP)(1)	64.65			63.86			60.38			57.11			56.61


HEARTLAND FINANCIAL USA, INC.
CONSOLIDATED FINANCIAL HIGHLIGHTS (Unaudited)
DOLLARS IN THOUSANDS, EXCEPT PER SHARE AND FULL TIME EQUIVALENT EMPLOYEE DATA
	As of and for the Quarter Ended
	3/31/2022			12/31/2021			9/30/2021			6/30/2021			3/31/2021
Common Share Data
Book value per common share	$	42.98		$	49.00		$	48.79		$	48.50		$	46.13
Tangible book value per common share (non-GAAP)(1)	$	28.66		$	34.59		$	34.33		$	33.98		$	31.53

Common shares outstanding, net of treasury stock	42,369,908			42,275,264			42,250,092			42,245,452			42,173,675
Tangible common equity ratio (non-GAAP)(1)	6.52		%	7.84		%	7.89		%	8.08		%	7.54		%

Other Selected Trend Information
Effective tax rate	21.95		%	17.16		%	19.15		%	21.11		%	22.50		%
Full time equivalent employees	2,208			2,249			2,163			2,091			2,131

Loans Held to Maturity
Commercial and industrial	$	2,814,513		$	2,645,085		$	2,538,369		$	2,518,908		$	2,421,260
Paycheck Protection Program ("PPP")	74,065			199,883			409,247			829,175			1,155,328
Owner occupied commercial real estate	2,266,076			2,240,334			2,135,227			1,940,134			1,837,559
Commercial and business lending	5,154,654			5,085,302			5,082,843			5,288,217			5,414,147
Non-owner occupied commercial real estate	2,161,761			2,010,591			2,020,487			1,987,369			1,967,183
Real estate construction	842,483			856,119			814,001			854,295			796,027
Commercial real estate lending	3,004,244			2,866,710			2,834,488			2,841,664			2,763,210
Total commercial lending	8,158,898			7,952,012			7,917,331			8,129,881			8,177,357
Agricultural and agricultural real estate	766,443			753,753			684,670			679,608			683,969
Residential mortgage	825,242			829,283			840,356			800,884			786,994
Consumer	426,802			419,524			412,550			401,641			402,136
Total loans held to maturity	$	10,177,385		$	9,954,572		$	9,854,907		$	10,012,014		$	10,050,456













Total unfunded loan commitments	$	4,130,316		$	3,830,219		$	3,583,417		$	3,433,062		$	3,306,042

(1) Refer to "Non-GAAP Measures" in this earnings release for additional information on the usage and presentation of these non-GAAP measures, and refer to these financial tables for the reconciliations to the most directly comparable GAAP measures.


HEARTLAND FINANCIAL USA, INC.
CONSOLIDATED FINANCIAL HIGHLIGHTS (Unaudited)
DOLLARS IN THOUSANDS, EXCEPT PER SHARE DATA
	As of and for the Quarter Ended
	3/31/2022			12/31/2021			9/30/2021			6/30/2021			3/31/2021
Allowance for Credit Losses-Loans
Balance, beginning of period	$	110,088		$	117,533		$	120,726		$	130,172		$	131,606

Provision (benefit) for credit losses	2,628			(6,808)			(4,448)			(6,466)			16
Charge-offs	(13,217)			(1,953)			(1,167)			(3,497)			(2,126)
Recoveries	1,023			1,316			2,422			517			676
Balance, end of period	$	100,522		$	110,088		$	117,533		$	120,726		$	130,172

Allowance for Unfunded Commitments
Balance, beginning of period	$	15,462		$	13,967		$	14,002		$	14,619		$	15,280

Provision (benefit) for credit losses	617			1,495			(35)			(617)			(661)
Balance, end of period	$	16,079		$	15,462		$	13,967		$	14,002		$	14,619

Allowance for lending related credit losses	$116,601			$125,550			$131,500			$134,728			$144,791

Provision for Credit Losses
Provision (benefit) for credit losses-loans	$	2,628		$	(6,808)		$	(4,448)		$	(6,466)		$	16
Provision (benefit) for credit losses-unfunded commitments	617			1,495			(35)			(617)			(661)
Provision (benefit) for credit losses-held to maturity securities	—			—			(51)			3			(3)
Total provision (benefit) for credit losses	$	3,245		$	(5,313)		$	(4,534)		$	(7,080)		$	(648)

Asset Quality

Nonaccrual loans	$	64,174		$	69,369		$	82,375		$	85,268		$	91,718
Loans past due ninety days or more	246			550			861			97			171
Other real estate owned	1,422			1,927			4,744			6,314			6,236
Other repossessed assets	34			43			166			50			239
Total nonperforming assets	$	65,876		$	71,889		$	88,146		$	91,729		$	98,364







Performing troubled debt restructured loans	$	882		$	817		$	1,817		$	2,122		$	2,394

Nonperforming Assets Activity
Balance, beginning of period	$	71,889		$	88,146		$	91,729		$	98,364		$	94,970
Net loan (charge offs)/recoveries	(12,194)			(637)			1,255			(2,980)			(1,450)
New nonperforming loans	15,832			5,886			6,908			7,989			14,936

Reduction of nonperforming loans(1)	(8,448)			(18,429)			(8,581)			(10,948)			(8,884)
Net OREO/repossessed assets sales proceeds and losses	(1,203)			(3,077)			(3,165)			(696)			(1,208)


Balance, end of period	$	65,876		$	71,889		$	88,146		$	91,729		$	98,364

Asset Quality Ratios
Ratio of nonperforming loans to total loans	0.63		%	0.70		%	0.84		%	0.85		%	0.91		%
Ratio of nonperforming loans and performing trouble debt restructured loans to total loans	0.64			0.71			0.86			0.87			0.94
Ratio of nonperforming assets to total assets	0.34			0.37			0.46			0.50			0.54
Annualized ratio of net loan charge-offs/(recoveries) to average loans	0.49			0.03			(0.05)			0.12			0.06
Allowance for loan credit losses as a percent of loans	0.99			1.11			1.19			1.21			1.30
Allowance for lending related credit losses as a percent of loans	1.15			1.26			1.33			1.35			1.44
Allowance for loan credit losses as a percent of nonperforming loans	156.04			157.45			141.20			141.42			141.66
Loans delinquent 30-89 days as a percent of total loans	0.10			0.07			0.12			0.17			0.16

(1) Includes principal reductions, transfers to performing status and transfers to OREO.


HEARTLAND FINANCIAL USA, INC.
CONSOLIDATED FINANCIAL HIGHLIGHTS (Unaudited)
DOLLARS IN THOUSANDS
	For the Quarter Ended
	March 31, 2022							December 31, 2021							March 31, 2021
	Average Balance			Interest		Rate		Average Balance			Interest		Rate		Average Balance			Interest		Rate
Earning Assets
Securities:
Taxable	$	6,501,664		$	32,620	2.03	%	$	6,730,511		$	30,637	1.81	%	$	5,693,097		$	30,443	2.17	%
Nontaxable(1)	1,106,951			7,851		2.88		964,712			7,082		2.91		730,565			5,700		3.16
Total securities	7,608,615			40,471		2.16		7,695,223			37,719		1.94		6,423,662			36,143		2.28
Interest on deposits with other banks and short-term investments	216,451			71		0.13		218,809			86		0.16		204,488			66		0.13
Federal funds sold	11			—		—		—			—		—		14,020			1		0.03
Loans:(2)
Commercial and industrial(1)	2,744,336			27,053		4.00		2,614,685			26,465		4.02		2,500,250			28,222		4.58
PPP loans	132,050			4,323		13.28		302,829			8,106		10.62		992,517			10,149		4.15
Owner occupied commercial real estate	2,243,522			21,278		3.85		2,166,768			22,007		4.03		1,778,829			19,565		4.46
Non-owner occupied commercial real estate	2,060,548			21,163		4.17		1,996,186			21,744		4.32		1,937,564			22,121		4.63
Real estate construction	847,250			9,276		4.44		837,716			9,390		4.45		806,315			9,698		4.88
Agricultural and agricultural real estate	745,348			7,006		3.81		697,521			7,089		4.03		681,279			8,051		4.79
Residential mortgage	843,881			8,085		3.89		853,208			8,615		4.01		849,923			9,830		4.69
Consumer	426,659			4,655		4.42		417,114			4,793		4.56		405,475			5,367		5.37
Less: allowance for credit losses-loans	(111,604)			—		—		(118,142)			—		—		(134,198)			—		—
Net loans	9,931,990			102,839		4.20		9,767,885			108,209		4.40		9,817,954			113,003		4.67
Total earning assets	17,757,067			143,381		3.27	%	17,681,917			146,014		3.28	%	16,460,124			149,213		3.68	%
Nonearning Assets	1,472,805							1,469,774							1,504,599
Total Assets	$	19,229,872						$	19,151,691						$	17,964,723
Interest Bearing Liabilities
Savings	$	8,889,950		$	2,394	0.11	%	$	8,609,596		$	2,160	0.10	%	$	8,032,308		$	2,430	0.12	%
Time deposits	1,071,675			583		0.22		1,048,785			1,008		0.38		1,233,682			1,965		0.65
Short-term borrowings	119,588			46		0.16		176,956			123		0.28		240,037			152		0.26
Other borrowings	372,187			3,560		3.88		371,918			3,554		3.79		411,132			3,300		3.26
Total interest bearing liabilities	10,453,400			6,583		0.26	%	10,207,255			6,845		0.27	%	9,917,159			7,847		0.32	%
Noninterest Bearing Liabilities
Noninterest bearing deposits	6,497,753							6,607,095							5,778,571
Accrued interest and other liabilities	164,590							164,663							194,614
Total noninterest bearing liabilities	6,662,343							6,771,758							5,973,185
Equity	2,114,129							2,172,678							2,074,379
Total Liabilities and Equity	$	19,229,872						$	19,151,691						$	17,964,723
Net interest income, fully tax-equivalent (non-GAAP)(1)(3)				$	136,798						$	139,169						$	141,366
Net interest spread(1)						3.01	%						3.01	%						3.36	%
Net interest income, fully tax-equivalent (non-GAAP)(1)(3) to total earning assets						3.12	%						3.12	%						3.48	%
Interest bearing liabilities to earning assets	58.87		%					57.73		%					60.25		%

(1) Computed on a tax-equivalent basis using an effective tax rate of 21%.
(2) Nonaccrual loans and loans held for sale are included in the average loans outstanding.
(3) Refer to "Non-GAAP Measures" in this earnings release for additional information on the usage and presentation of these non-GAAP measures, and refer to these financial tables for the reconciliations to the most directly comparable GAAP measures.


HEARTLAND FINANCIAL USA, INC.
SELECTED FINANCIAL DATA - SUBSIDIARY BANKS (Unaudited)
DOLLARS IN THOUSANDS
	As of and For the Quarter Ended
	3/31/2022		12/31/2021		9/30/2021		6/30/2021		3/31/2021
Total Assets
Arizona Bank & Trust	$	1,903,616	$	1,969,184	$	1,808,943	$	1,645,816	$	1,614,740
Bank of Blue Valley	1,419,999		1,441,980		1,460,751		1,419,003		1,425,434
Citywide Banks	2,647,931		2,696,695		2,685,554		2,611,842		2,632,199
Dubuque Bank and Trust Company	2,292,161		2,235,630		1,968,612		1,990,040		1,932,234
First Bank & Trust	2,892,823		2,878,173		2,855,671		2,882,969		2,991,053
Illinois Bank & Trust	1,708,750		1,686,038		1,680,558		1,671,240		1,584,561
Minnesota Bank & Trust	877,851		865,825		872,291		955,638		995,692
New Mexico Bank & Trust	2,578,150		2,623,597		2,586,951		2,494,257		2,356,918
Premier Valley Bank	1,225,543		1,224,396		1,198,540		1,126,807		1,062,607
Rocky Mountain Bank	716,300		713,930		718,956		646,821		620,800
Wisconsin Bank & Trust	1,210,498		1,224,689		1,209,954		1,252,096		1,264,009











Total Deposits
Arizona Bank & Trust	$	1,732,187	$	1,768,793	$	1,617,732	$	1,450,248	$	1,453,888
Bank of Blue Valley	1,185,749		1,179,294		1,192,868		1,168,617		1,178,114
Citywide Banks	2,275,838		2,291,912		2,282,703		2,174,237		2,231,320
Dubuque Bank and Trust Company	1,793,770		1,750,071		1,705,753		1,471,564		1,565,782
First Bank & Trust	2,454,620		2,397,350		2,367,353		2,361,391		2,427,920
Illinois Bank & Trust	1,575,274		1,496,262		1,509,847		1,512,106		1,426,426
Minnesota Bank & Trust	752,210		719,489		734,292		762,549		813,693
New Mexico Bank & Trust	2,332,574		2,308,939		2,206,099		2,195,838		2,077,304
Premier Valley Bank	1,074,076		1,051,286		988,579		963,459		896,715
Rocky Mountain Bank	648,497		640,757		602,155		568,961		549,894
Wisconsin Bank & Trust	1,063,490		1,070,161		1,048,367		1,093,119		1,067,735


HEARTLAND FINANCIAL USA, INC.
CONSOLIDATED FINANCIAL HIGHLIGHTS (Unaudited)
DOLLARS IN THOUSANDS, EXCEPT PER SHARE DATA AND FULL TIME EQUIVALENT EMPLOYEE DATA
	For the Quarter Ended
	3/31/2022			12/31/2021			9/30/2021			6/30/2021			3/31/2021
Reconciliation of Annualized Return on Average Tangible Common Equity (non-GAAP)
Net income available to common stockholders (GAAP)	$	41,076		$	47,568		$	53,911		$	59,593		$	50,801
Plus core deposit and customer relationship intangibles amortization, net of tax(1)	1,623			1,713			1,814			1,907			1,988
Net income available to common stockholders excluding intangible amortization (non-GAAP)	$	42,699		$	49,281		$	55,725		$	61,500		$	52,789

Average common equity (GAAP)	$	2,003,424		$	2,061,973		$	2,072,593		$	1,980,904		$	1,963,674
Less average goodwill	576,005			576,005			576,005			576,005			576,005
Less average core deposit and customer relationship intangibles, net	31,931			34,018			36,279			38,614			41,399
Average tangible common equity (non-GAAP)	$	1,395,488		$	1,451,950		$	1,460,309		$	1,366,285		$	1,346,270
Annualized return on average common equity (GAAP)	8.32		%	9.15		%	10.32		%	12.07		%	10.49		%
Annualized return on average tangible common equity (non-GAAP)	12.41		%	13.47		%	15.14		%	18.05		%	15.90		%

Reconciliation of Annualized Net Interest Margin, Fully Tax-Equivalent (non-GAAP)
Net Interest Income (GAAP)	$	134,679		$	137,194		$	142,543		$	141,218		$	139,605
Plus tax-equivalent adjustment(1)	2,119			1,975			1,714			1,762			1,761
Net interest income, fully tax-equivalent (non-GAAP)	$	136,798		$	139,169		$	144,257		$	142,980		$	141,366

Average earning assets	$	17,757,067		$	17,681,917		$	17,123,824		$	16,819,978		$	16,460,124


Annualized net interest margin (GAAP)	3.08		%	3.08		%	3.30		%	3.37		%	3.44		%
Annualized net interest margin, fully tax-equivalent (non-GAAP)	3.12			3.12			3.34			3.41			3.48
Net purchase accounting discount amortization on loans included in annualized net interest margin	0.05			0.05			0.08			0.09			0.12


Reconciliation of Tangible Book Value Per Common Share (non-GAAP)
Common equity (GAAP)	$	1,821,152		$	2,071,473		$	2,061,547		$	2,049,081		$	1,945,502
Less goodwill	576,005			576,005			576,005			576,005			576,005
Less core deposit and customer relationship intangibles, net	30,934			32,988			35,157			37,452			39,867
Tangible common equity (non-GAAP)	$	1,214,213		$	1,462,480		$	1,450,385		$	1,435,624		$	1,329,630

Common shares outstanding, net of treasury stock	42,369,908			42,275,264			42,250,092			42,245,452			42,173,675
Common equity (book value) per share (GAAP)	$	42.98		$	49.00		$	48.79		$	48.50		$	46.13
Tangible book value per common share (non-GAAP)	$	28.66		$	34.59		$	34.33		$	33.98		$	31.53

Reconciliation of Tangible Common Equity Ratio (non-GAAP)
Tangible common equity (non-GAAP)	$	1,214,213		$	1,462,480		$	1,450,385		$	1,435,624		$	1,329,630

Total assets (GAAP)	$	19,230,879		$	19,274,549		$	18,996,225		$	18,371,006		$	18,244,427
Less goodwill	576,005			576,005			576,005			576,005			576,005
Less core deposit and customer relationship intangibles, net	30,934			32,988			35,157			37,452			39,867
Total tangible assets (non-GAAP)	$	18,623,940		$	18,665,556		$	18,385,063		$	17,757,549		$	17,628,555
Tangible common equity ratio (non-GAAP)	6.52		%	7.84		%	7.89		%	8.08		%	7.54		%

(1) Computed on a tax-equivalent basis using an effective tax rate of 21%.


HEARTLAND FINANCIAL USA, INC.
CONSOLIDATED FINANCIAL HIGHLIGHTS (Unaudited)
DOLLARS IN THOUSANDS, EXCEPT PER SHARE DATA
Reconciliation of Efficiency Ratio (non-GAAP)	For the Quarter Ended
	3/31/2022			12/31/2021			9/30/2021			6/30/2021			3/31/2021
Net interest income (GAAP)	$	134,679		$	137,194		$	142,543		$	141,218		$	139,605
Tax-equivalent adjustment(1)	2,119			1,975			1,714			1,762			1,761
Fully tax-equivalent net interest income	136,798			139,169			144,257			142,980			141,366
Noninterest income	34,569			32,730			32,724			33,164			30,317
Securities (gains)/losses, net	(2,872)			(1,563)			(1,535)			(2,842)			30
Unrealized (gain)/loss on equity securities, net	283			27			(112)			(83)			110

Valuation adjustment on servicing rights	(1,658)			(502)			(195)			526			(917)
Adjusted revenue (non-GAAP)	$	167,120		$	169,861		$	175,139		$	173,745		$	170,906

Total noninterest expenses (GAAP)	$	110,797		$	115,386		$	110,627		$	103,376		$	102,423
Less:
Core deposit and customer relationship intangibles amortization	2,054			2,169			2,295			2,415			2,516
Partnership investment in tax credit projects	77			2,549			2,374			1,345			35
(Gain)/loss on sales/valuation of assets, net	46			214			(3)			183			194
Acquisition, integration and restructuring costs	576			1,989			204			210			2,928
Adjusted noninterest expenses (non-GAAP)	$	108,044		$	108,465		$	105,757		$	99,223		$	96,750
Efficiency ratio, fully tax-equivalent (non-GAAP)	64.65		%	63.86		%	60.38		%	57.11		%	56.61		%

Acquisition, integration and restructuring costs
Salaries and employee benefits	$	340		$	—		$	—		$	44		$	534
Occupancy	—			—			—			1			9
Furniture and equipment	—			—			7			41			607
Professional fees	236			1,989			145			63			670
Advertising	—			—			11			6			156
(Gain)/loss on sales/valuations of assets, net	—			—			39			—			—
Other noninterest expenses	—			—			2			55			952
Total acquisition, integration and restructuring costs	$	576		$	1,989		$	204		$	210		$	2,928
After tax impact on diluted earnings per common share(1)	$	0.01		$	0.05		$	—		$	—		$	0.05
















(1) Computed on a tax-equivalent basis using an effective tax rate of 21%.