Heartland in Iowa Files to Raise $75 Million

By Chris Cumming August 29, 2013, 9:52 a.m. EDT 1 Min Read

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Heartland Financial in Iowa Hires CFO

Heartland Financial in Dubuque, Iowa, has hired a chief financial officer.

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Community banking

Heartland Financial to Buy Morrill in Kansas for $62M

Heartland Financial USA in Dubuque, Iowa, has agreed to buy Morrill Bancshares in Merriam, Kan.

By Brian Browdie

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Heartland Financial (HTLF) in Dubuque, Iowa, plans to raise up to $75 million.

The $5 billion-asset company plans to raise the money by selling common stock or warrants, it said in a prospectus filed Wednesday. The company said it may sell the shares through underwriters or directly.

Heartland said it plans to use the proceeds for general corporate purposes, including possible stock or debt redemptions or acquisitions.

Also on Wednesday, Heartland announced that Bryan McKeag, corporate controller at Associated Banc-Corp (ASBC), will join the company as chief financial officer.

Heartland agreed in June to buy Morrill Bancshares in Kansas for $62 million. Heartland has nine banking subsidiaries in eight states.

Chris Cumming

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