Heartland Financial reports Q2 adjusted EPS $1.15, consensus $1.14

Reports Q2 adjusted revenue $188.92M, consensus $183.13M. Reports Q2 tangible book value per share $30.94. Reports Q2 CET1 capital ratio 11.68%. Reports Q2 net charge0offs .23%. The company said, “HTLF delivered a solid second quarter. Net interest income increased while our adjusted efficiency ratio decreased. Our margin expanded through increased loan yields and decreased deposit costs as we continue to pay down high cost wholesale deposits. In July we completed the sale of Rocky Mountain Bank in Montana, a result of our strategic initiatives that will drive efficiency, enhance EPS growth, deliver higher return on assets and more efficient use of capital. We’re excited to be working closely with our partners at UMB on integration planning for our two companies as we continue towards an expected Q1 2025 transaction close date.”