Stock Market & Financial Investment News

News Breaks October 11, 2012 11:01 EDT HTLF Heartland Financial USA to acquire Heritage Bank, N.A. in Phoenix for $16M Heartland Financial USA has entered into a definitive agreement to acquire Heritage Bank, National Association, a Phoenix-based commercial bank. Heritage is a subsidiary of Ameri-National Corporation of Overland Park, Kansas. According to terms of the agreement, Heartland will acquire Heritage in an all-cash transaction valued at approximately $16M. The purchase price represents a premium of approximately 1.24 times total equity and a premium on total deposits of 3.54%. The transaction is subject to approval by bank regulatory authorities and expected to close on or before December 14, 2012. After that date, Heartland will operate Heritage Bank as a separate charter until late in the first quarter of 2013 when it expects to combine the Heritage charter with Heartland’s Arizona Bank & Trust subsidiary and complete the systems conversion. Heartland expects the transaction to be accretive to earnings in 2013. News For HTLF From The Last 14 Days Check below for free stories on HTLF the last two weeks. Sign up for a free trial to see the rest of the stories you've been missing. June 12, 2013 16:03 EDT HTLF Heartland Financial and Morrill Bancshares announce merger agreement Heartland Financial USA announced that it has entered into a definitive merger agreement with Morrill Bancshares,, based in Merriam, Kansas. Morrill is the parent of Morrill & Janes Bank and Trust Company, a commercial bank serving the greater Kansas City and northeast Kansas markets. According to terms of the agreement, Morrill Bancshares, Inc. will merge into Heartland and Morrill & Janes Bank and Trust Company will become a subsidiary of Heartland, operating under its present name and management team as Heartland’s tenth state-chartered bank. The stockholders of Morrill Bancshares, Inc. will receive Heartland common stock and cash that together are valued at approximately $61.5M. The transaction is subject to approval by bank regulatory authorities and expected to close no later than October 31. The companies expect to complete the systems conversion during the first quarter of 2014. June 10, 2013 09:18 EDT HTLF Heartland Financial announces departure of EVP, CFO and COO John Schmidt Subscribe for More Information Sign up for a free trial to see the rest of the stories you've been missing.