Dubuque, IA, April 26, 2021 (GLOBE NEWSWIRE) —
Highlights and Developments
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Record net income available to common stockholders of $50.8 million compared to $20.0 million for the first quarter of 2020, an increase of $30.8 million or 153%
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Diluted earnings per common share of $1.20 compared to $0.54 for the first quarter of the prior year, an increase of $0.66 or 122%
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Annualized net charge off ratio of 0.06%, nonperforming assets to total assets of 0.54%, and 30-89 day loan delinquencies of 0.16%
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Net interest income of $139.6 million compared to $112.5 million for the first quarter of 2020, an increase of $27.1 million or 24%
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Efficiency ratio (non-GAAP)1 of 56.61% compared to 61.82% for the first quarter of 2020
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Completed the AimBank systems conversion on February 19, 2021
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Announced a branding change on April 14, 2021 from Heartland Financial to HTLF
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Three Months Ended March 31, |
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|
2021 |
2020 |
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|
Net income available to common stockholders (in millions) |
$ |
50.8 |
$ |
20.0 |
|||
|
Diluted earnings per common share |
1.20 |
0.54 |
|||||
|
Return on average assets |
1.19 |
% |
0.61 |
% |
|||
|
Return on average common equity |
10.49 |
4.98 |
|||||
|
Return on average tangible common equity (non-GAAP)(1) |
15.90 |
8.00 |
|||||
|
Net interest margin |
3.44 |
3.81 |
|||||
|
Net interest margin, fully tax-equivalent (non-GAAP)(1) |
3.48 |
3.84 |
|||||
|
Efficiency ratio, fully-tax equivalent (non-GAAP)(1) |
56.61 |
61.82 |
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(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…
