signature=118e844de9fea3f1fc98782813f19425,Document

Exhibit

CONTACT:FOR IMMEDIATE RELEASE

Bryan R. McKeagJuly 23, 2018

Executive Vice President

Chief Financial Officer

(563) 589-1994

bmckeag@htlf.com

HEARTLAND FINANCIAL USA, INC. REPORTS SECOND QUARTER 2018 RESULTS

Highlights

§Quarterly net income available to common stockholders of $27.9 million in comparison with $21.9 million for the second quarter of the prior year

§Diluted earnings per common share of $0.85 in comparison with $0.81 for the second quarter of the prior year

§Net interest margin of 4.23%, fully tax-equivalent (non-GAAP)(1)of 4.30%

§Organic loan growth of $50.6 million or 3% annualized and organic demand deposit growth of $111.6 million or 14% annualized

§Return on average common equity of 9.81% and return on average tangible common equity (non-GAAP)(2)of 14.56%

§Tangible common equity ratio (non-GAAP)(3)of 7.46%

§Completed the acquisition of First Bank Lubbock Bancshares, Inc. on May 18, 2018

Quarter Ended

June 30,Six Months Ended

June 30,

2018201720182017

Net income (in millions)$27.9$22.0$51.1$40.0

Net income available to common stockholders (in millions)27.921.951.139.9

Diluted earnings per common share0.850.811.611.49

Return on average assets1.05%1.06%1.01%0.97%

Return on average common equity9.8111.139.5810.44

Return on average tangible common equity (non-GAAP)(2)14.5614.0713.8213.18

Net interest margin4.233.944.213.95

Net interest margin, fully tax-equivalent (non-GAAP)(1)4.304.144.284.15

"Heartland's strong financial performance continued during the second quarter of 2018. Net income available to common stockholders was $27.9 million, which was a 27% increase over the same quarter a year ago. "

Lynn B. Fuller, executive operating chairman, Heartland Financial USA, Inc.

(1) Refer to the "Reconciliation of Annualized Net Interest Margin, Fully Tax-Equivalent (non-GAAP)" table included in this earnings release.

(2) Refer to the "Reconciliation of Return on Average Tangible Common Equity (non-GAAP)" table included in this earnings release.

(3) Refer to the "Reconciliation of Tangible Common Equity Ratio (non-GAAP)" table included in this earnings release.

Dubuque, Iowa, Monday, July 23, 2018-Heartland Financial USA, Inc. (NASDAQ: HTLF)today reported net income available to common stockholders of $27.9 million, or $0.85 per diluted common share, for the quarter ended June 30, 2018, compared to $21.9 million, or $0.81 per diluted common share, for the second quarter of 2017. Return on average common equity was 9.81% and return on average assets was 1.05% for the second quarter of 2018, compared to 11.13% and 1.06%, respectively, for the same quarter in 2017.

Net income available to common stockholders for the six months ended June 30, 2018, was $51.1 million or $1.61 per diluted common share, compared to $39.9 million or $1.49 per diluted common share for the six months ended June 30, 2017. Return on average common equity was 9.58% and return on average assets was 1.01% for the first six months of 2018, compared to 10.44% and 0.97% for the same period in 2017.

Commenting on Heartland’s second quarter results, Lynn B. Fuller, Heartland’s executive operating chairman, said, "Heartland's strong financial performance continued during the second quarter of 2018. Net income available to common stockholders was $27.9 million, which was a 27% increase over the same quarter a year ago."

On February 23, 2018, Heartland completed the acquisition of Signature Bancshares, Inc., parent company of Signature Bank, based in Minnetonka, Minnesota. Based on Heartland's closing common stock price of $53.55 per share as of February 23, 2018, the aggregate consideration was $61.4 million, with approximately 10% of the consideration paid in cash and 90% paid by delivery of Heartland common stock. Simultaneous with the closing of the transaction, Signature Bank merged into Heartland's Minnesota Bank & Trust subsidiary. As of the closing date, Signature Bancshares, Inc. had, at fair value, total assets of $427.1 million, total loans held to maturity of $324.5 million and total deposits of $357.3 million. The systems conversion for this transaction occurred on April 20, 2018.

On May 18, 2018, Heartland completed the acquisition of Lubbock, Texas based First Bank Lubbock Bancshares, Inc. ("FBLB"), parent company of First Bank & Trust, and PrimeWest Mortgage Corporation, which is a wholly-owned subsidiary of First Bank & Trust. Based on Heartland's closing common stock price of $55.05 per share on May 18, 2018, the aggregate consideration paid to FBLB common shareholders was $189.9 million, with approximately 3% of the consideration paid in cash and 97% paid by delivery of Heartland common stock. As a result of the transaction, First Bank & Trust became a wholly-owned subsidiary of Heartland and its 11th state-chartered bank. First Bank & Trust and PrimeWest Mortgage Corporation continue to operate under their present brands and management teams. As of the closing date, FBLB had, at fair value, total assets of $1.12 billion, total loans held to maturity of $681.1 million and total deposits of $893.8 million. Heartland also assumed, at fair value, $8.2 million of trust preferred debt. The systems conversion for this transaction is expected to occur in the third quarter of 2018.

In the first quarter of 2018, Heartland recorded $2.6 million of restructuring expenses related to its legacy mortgage lending operation. The restructuring projects are primarily related to outsourcing the loan application processing, underwriting and loan closing functions and include a workforce reduction of approximately 100 employees and the discontinuation of several current systems.

Bruce K. Lee, Heartland's president and chief executive officer, stated, "Our mortgage restructuring projects are nearing completion. When completed, we look forward to providing an enhanced customer experience and streamlined operations that will reduce the volatility and cost of originating mortgage loans."

Fully Tax-Equivalent Net Interest Margin Increases from Second Quarter of 2017

Net interest margin, expressed as a percentage of average earning assets, was 4.23% (4.30% on a fully tax-equivalent basis, non-GAAP) during the second quarter of 2018, compared to 4.19% (4.26% on a fully tax-equivalent basis, non-GAAP) during the first quarter of 2018 and 3.94% (4.14% on a fully tax-equivalent basis, non-GAAP) during the second quarter of 2017.

"On a fully tax equivalent basis, net interest margin for the second quarter of 2018 increased 16 basis points to 4.30 percent from 4.14 percent for the second quarter of 2017. The strong margin was driven by an improved earning asset mix and strong demand deposit growth," Lee said.

Total interest income for the second quarter of 2018 was $113.4 million compared to $82.1 million recorded in the second quarter of 2017. The taxable equivalent adjustment for income taxes saved on the interest earned on nontaxable securities and loans was $1.6 million for the second quarter of 2018 and $3.8 million for the second quarter of 2017. With these adjustments, total interest income on a tax-equivalent basis was $115.0 million for the second quarter of 2018, an increase of $29.1 million or 34%, compared to total interest income of $85.9 million for the second quarter

of 2017. Average earning assets increased $2.03 billion or 27% from the second quarter of 2017, which was primarily attributable to the acquisitions completed in the third quarter of 2017 and the first half of 2018. The average rate on earning assets increased 26 basis points to 4.80% for the second quarter of 2018 compared to 4.54% for the same quarter in 2017. The increase in interest income on a tax-equivalent basis was primarily due to recent increases in market interest rates and the increase in average earning assets.

Interest expense on deposits and borrowings for the second quarter of 2018 was $12.0 million, an increase of $4.5 million or 60% from $7.5 million in the second quarter of 2017. Average interest bearing deposits increased $1.08 billion or 23% to $5.79 billion for the quarter ended June 30, 2018, from $4.71 billion in the same quarter in 2017, which was primarily attributable to recent acquisitions. The average interest rate paid on Heartland's interest bearing deposits increased 20 basis points to 0.55% for the second quarter of 2018 compared to 0.35% for the same quarter in 2017. Average borrowings declined $19.8 million or 5% to $415.3 million during the second quarter of 2018 from $435.1 million during the same quarter in 2017. The average interest rate paid on Heartland's borrowings was 3.88% for the second quarter of 2018 compared to 3.06% in the second quarter of 2017. The increase in the average interest rate paid on Heartland's interest bearing liabilities was primarily due to recent increases in market interest rates.

Net interest income was $101.4 million during the second quarter of 2018 compared to $74.6 million during the second quarter of 2017, an increase of $26.8 million or 36%. After the tax-equivalent adjustment discussed above, net interest income on a tax-equivalent basis totaled $103.0 million during the second quarter of 2018 compared to net interest income on a tax-equivalent basis of $78.4 million during the second quarter of 2017, an increase of $24.6 million or 31%.

Noninterest Income and Noninterest Expenses Increase from Second Quarter of 2017

Noninterest income totaled $27.6 million during the second quarter of 2018 compared to $25.6 million during the second quarter of 2017, an increase of $2.0 million or 8%. Service charges and fees increased $2.4 million or 25% to $12.1 million for the second quarter of 2018 compared to $9.7 million for the same quarter of 2017. Service charges related to credit card income increased $806,000 or 37% to $3.0 million for the second quarter of 2018 from $2.2 million for the same quarter of 2017. The remainder of the increase in service charges was primarily attributable to Heartland's larger customer base as a result of recent acquisitions. Securities losses, net, totaled $259,000 for the second quarter of 2018 compared to net securities gains of $1.4 million for the second quarter of 2017. Other noninterest income increased $429,000 or 58% to $1.2 million for the second quarter of 2018 compared to $738,000 for the second quarter of 2017. Included in this increase was $174,000 of reimbursements from customers for loan workout expenses that had been incurred and paid in prior years.

For the second quarter of 2018, noninterest expenses totaled $88.9 million compared to $69.3 million during the second quarter of 2017, an increase of $19.6 million or 28%. Salaries and employee benefits increased $9.6 million or 23% to $50.8 million for the second quarter of 2018 compared to $41.1 million for the same quarter in 2017, which was primarily due to the increase in full time equivalent employees from recent acquisitions. Heartland had 2,216 full time equivalent employees at June 30, 2018, compared to 1,862 full time equivalent employees at June 30, 2017. Advertising expenses increased $786,000 or 58% to $2.1 million for the second quarter of 2018 compared to $1.4 million for the second quarter of 2017, primarily related to increased marketing efforts to support Heartland's expanding footprint. For the second quarter of 2018, losses of $1.5 million were recorded on sales/valuations of assets compared to a net gain of $112,000 for the same quarter of 2017. This increase of $1.6 million was primarily due to write-downs and losses on repossessed assets of $993,000 during the second quarter of 2018.

Heartland's effective tax rate was 21.09% for the second quarter of 2018 compared to 26.85% for the second quarter of 2017. Federal low-income housing tax credits included in the determination of Heartland's income taxes totaled $307,000 during the second quarter of 2018 compared to $310,000 for the second quarter of 2017. Heartland's effective tax rate was also affected by the passage of the Tax Cuts and Jobs Act in December 2017, which reduced the federal income tax rate from a maximum of 35% to 21% beginning January 1, 2018. The level of tax-exempt interest income as a percentage of pre-tax income was 16.77% during the second quarter of 2018 compared to 23.49% during the second quarter of 2017.

Loans and Deposits Increase Since December 31, 2017

Total assets were $11.30 billion at June 30, 2018, an increase of $1.49 billion or 15% from $9.81 billion at year-end 2017. Excluding $427.1 million of assets acquired at fair value in the Signature Bancshares Inc. transaction and $1.12 billion of assets acquired at fair value in the FBLB transaction, total assets decreased $53.1 million or 1% since

December 31, 2017. The decrease in assets was primarily due to a reduction in the securities portfolio, which represented 22% and 25% of total assets at June 30, 2018, and December 31, 2017, respectively.

Total loans held to maturity were $7.48 billion at June 30, 2018, compared to $6.39 billion at year-end 2017, an increase of $1.09 billion or 17%. This change includes $324.5 million of total loans held to maturity acquired at fair value in the Signature Bancshares, Inc. transaction and $681.1 million of total loans held to maturity acquired at fair value in the FBLB transaction. Exclusive of these transactions, total loans held to maturity increased $50.6 million or 3% annualized during the second quarter of 2018 and $80.7 million or 3% annualized for the first six months of 2018.

Total deposits were $9.49 billion as of June 30, 2018, compared to $8.15 billion at year-end 2017, an increase of $1.34 billion or 16%. This increase included $357.3 million of deposits, at fair value, acquired in the Signature Bancshares, Inc. transaction and $893.8 million of deposits, at fair value, acquired in the FBLB transaction. Exclusive of these transactions, total deposits increased $91.1 million or 1% since December 31, 2017. Demand deposits increased $416.5 million or 14% to $3.40 billion at June 30, 2018 compared to $2.98 billion at December 31, 2017. Excluding $299.0 million of demand deposits attributable to the Signature Bancshares, Inc. and FBLB transactions, demand deposits increased $117.5 million or 4% since year-end 2017. Excluding demand deposits acquired in the second quarter of 2018, demand deposits increased $111.6 million or 4% since March 31, 2018. Savings deposits increased $624.4 million or 15% to $4.86 billion at June 30, 2018, from $4.24 billion at December 31, 2017. Excluding savings deposits of $619.0 million acquired in the Signature Bancshares, Inc. and FBLB transactions, savings deposits increased $5.4 million or less than 1% since year-end 2017. Excluding savings deposits acquired in the second quarter of 2018, savings deposits decreased $95.2 million or 2% since March 31, 2018.

"We were encouraged by both organic loan growth of $50.6 million and organic demand deposit growth of $111.6 million in the second quarter. Quality loan and demand deposit growth remain among our top priorities," Lee stated.

Nonperforming Assets Increase Since December 31, 2017

Nonperforming assets were $81.0 million or 0.72% of total assets at June 30, 2018, compared to $74.6 million or 0.76% of total assets at December 31, 2017. Excluding $10.4 million of nonperforming assets acquired in the Signature Bancshares, Inc. and FBLB transactions, nonperforming assets decreased $4.0 million or 5% since year-end 2017. Nonperforming loans were $69.4 million or 0.93% of total loans at June 30, 2018, compared to $63.4 million or 0.99% of total loans at December 31, 2017.

The allowance for loan losses at June 30, 2018, was 0.82% of loans and 88.32% of nonperforming loans, compared to 0.87% of loans and 87.82% of nonperforming loans at December 31, 2017. The provision for loan losses increased $3.9 million to $4.8 million for the second quarter of 2018 compared to $889,000 for the same quarter in 2017. Included in the provision expense for the second quarter of 2018 was $2.1 million of specific reserves related to updated collateral values on two agricultural relationships and two commercial relationships. The remaining increase is attributable to a combination of several factors, including higher loan growth, acquired loans moving out of the purchased accounting pools and general changes in credit quality.

Conference Call Details

Heartland will host a conference call for investors at 5:00 p.m. EDT today. To participate, dial 877-407-0782 at least five minutes before start time. To listen to the live webcast, log on towww.htlf.comat least 15 minutes before start time. A replay will be available until July 22, 2019, by logging on towww.htlf.com.

About Heartland Financial USA, Inc.

Heartland Financial USA, Inc. is a diversified financial services company with assets of $11.3 billion. The company provides banking, mortgage, private client, investment, insurance and consumer finance services to individuals and businesses. Heartland currently has 125 banking locations serving 93 communities in Iowa, Illinois, Wisconsin, New Mexico, Arizona, Montana, Colorado, Minnesota, Kansas, Missouri, Texas and California. Additional information about Heartland Financial USA, Inc. is available atwww.htlf.com.

Safe Harbor Statement

This release, and future oral and written statements of Heartland and its management, may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 about Heartland's financial condition, results of operations, plans, objectives, future performance and business. Although these forward-looking statements are based upon the beliefs, expectations and assumptions of Heartland's management, there are a number

of factors, 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 are detailed in the risk factors in Heartland's Annual Report on Form 10-K filed with the Securities and Exchange Commission, contained, among others: (i) the strength of the local and national economy; (ii) the economic impact of past and any future terrorist threats and attacks and any acts of war; (iii) changes in state and federal laws, regulations and governmental policies as they impact the company's general business; (iv) changes in interest rates and prepayment rates of the company's assets; (v) increased competition in the financial services sector and the inability to attract new customers; (vi) changes in technology and the ability to develop and maintain secure and reliable electronic systems; (vii) the potential impact of acquisitions and Heartland's ability to successfully integrate acquired banks; (viii) the loss of key executives or employees; (ix) changes in consumer spending; (x) unexpected outcomes of existing or new litigation involving the company; and (xi) changes in accounting policies and practices. All statements in this release, including forward-looking statements, speak only as of the date they are made, and Heartland undertakes no obligation to update any statement in light of new information or future events.

-FINANCIAL TABLES FOLLOW

-###

HEARTLAND FINANCIAL USA, INC.

CONSOLIDATED FINANCIAL HIGHLIGHTS (Unaudited)

DOLLARS IN THOUSANDS, EXCEPT PER SHARE DATA

For the Quarter Ended

June 30,For the Six Months Ended

June 30,

2018201720182017

Interest Income

Interest and fees on loans$96,787$68,094$182,438$134,992

Interest on securities:

Taxable12,2708,59923,84716,852

Nontaxable3,5845,0207,16310,211

Interest on federal funds sold—3—3

Interest bearing deposits with the Federal Reserve Bank and other banks and other short-term investments7683451,175554

Total Interest Income113,40982,061214,623162,612

Interest Expense

Interest on deposits7,9834,16313,7497,893

Interest on short-term borrowings54790815227

Interest on other borrowings3,4703,2287,0666,884

Total Interest Expense12,0007,48121,63015,004

Net Interest Income101,40974,580192,993147,608

Provision for loan losses4,8318899,0944,530

Net Interest Income After Provision for Loan Losses96,57873,691183,899143,078

Noninterest Income

Service charges and fees12,0729,69622,15119,153

Loan servicing income1,8071,3513,5613,075

Trust fees4,6153,9799,2957,610

Brokerage and insurance commissions8779761,7842,012

Securities gains/(losses), net(259)1,3921,1823,874

Unrealized gain/(loss) on equity securities, net71—43—

Net gains on sale of loans held for sale6,8006,81710,85112,964

Valuation adjustment on servicing rights(216)19(218)24

Income on bank owned life insurance7006561,3141,273

Other noninterest income1,1677382,3871,532

Total Noninterest Income27,63425,62452,35051,517

Noninterest Expense

Salaries and employee benefits50,75841,12699,46882,893

Occupancy6,3155,05612,35810,129

Furniture and equipment3,1842,5865,9335,087

Professional fees9,9487,58318,40715,892

FDIC insurance assessments6849091,6731,716

Advertising2,1451,3594,0853,783

Core deposit intangibles and customer relationship intangibles amortization2,2741,2184,1372,389

Other real estate and loan collection expenses9483651,6801,193

(Gain)/loss on sales/valuations of assets, net1,528(112)1,331300

Restructuring expenses——2,564—

Other noninterest expenses11,0989,20820,89217,656

Total Noninterest Expense88,88269,298172,528141,038

Income Before Income Taxes35,33030,01763,72153,557

Income taxes7,4518,05912,57413,589

Net Income27,87921,95851,14739,968

Preferred dividends(13)(13)(26)(32)

Interest expense on convertible preferred debt—4—9

Net Income Available to Common Stockholders$27,866$21,949$51,121$39,945

Earnings per common share-diluted$0.85$0.81$1.61$1.49

Weighted average shares outstanding-diluted32,830,75126,972,58031,746,12626,798,134

HEARTLAND FINANCIAL USA, INC.

CONSOLIDATED FINANCIAL HIGHLIGHTS (Unaudited)

DOLLARS IN THOUSANDS, EXCEPT PER SHARE DATA

For the Quarter Ended

6/30/20183/31/201812/31/20179/30/20176/30/2017

Interest Income

Interest and fees on loans$96,787$85,651$86,108$82,906$68,094

Interest on securities:

Taxable12,27011,57711,11910,3948,599

Nontaxable3,5843,5794,4015,0865,020

Interest on federal funds sold——5343

Interest bearing deposits with the Federal Reserve Bank and other banks and other short-term investments768407435558345

Total Interest Income113,409101,214102,06898,97882,061

Interest Expense

Interest on deposits7,9835,7665,3135,0734,163

Interest on short-term borrowings54726818027190

Interest on other borrowings3,4703,5963,7193,7903,228

Total Interest Expense12,0009,6309,2129,1347,481

Net Interest Income101,40991,58492,85689,84474,580

Provision for loan losses4,8314,2635,3285,705889

Net Interest Income After Provision for Loan Losses96,57887,32187,52884,13973,691

Noninterest Income

Service charges and fees12,07210,0799,89210,1389,696

Loan servicing income1,8071,7541,4001,1611,351

Trust fees4,6154,6804,3363,8723,979

Brokerage and insurance commissions8779071,071950976

Securities gains/(losses), net(259)1,4411,4201,6791,392

Unrealized gain/(loss) on equity securities, net71(28)———

Net gains on sale of loans held for sale6,8004,0514,2904,9976,817

Valuation adjustment on servicing rights(216)(2)(8)519

Income on bank owned life insurance700614733766656

Other noninterest income1,1671,2202,3941,409738

Total Noninterest Income27,63424,71625,52824,97725,624

Noninterest Expense

Salaries and employee benefits50,75848,71043,28945,22541,126

Occupancy6,3156,0435,8926,2235,056

Furniture and equipment3,1842,7493,1482,8262,586

Professional fees9,9488,4598,5378,4507,583

FDIC insurance assessments684989985894909

Advertising2,1451,9402,0881,3581,359

Core deposit intangibles and customer relationship intangibles amortization2,2741,8631,8251,8631,218

Other real estate and loan collection expenses948732687581365

(Gain)/loss on sales/valuations of assets, net1,528(197)8331,342(112)

Restructuring expenses—2,564———

Other noninterest expenses11,0989,79410,5949,9979,208

Total Noninterest Expense88,88283,64677,87878,75969,298

Income Before Income Taxes35,33028,39135,17830,35730,017

Income taxes7,4515,12321,5068,7258,059

Net Income27,87923,26813,67221,63221,958

Preferred dividends(13)(13)(13)(13)(13)

Interest expense on convertible preferred debt———34

Net Income Available to Common Stockholders$27,866$23,255$13,659$21,622$21,949

Earnings per common share-diluted$0.85$0.76$0.45$0.72$0.81

Weighted average shares outstanding-diluted32,830,75130,645,21230,209,04329,910,43726,972,580

HEARTLAND FINANCIAL USA, INC.

CONSOLIDATED FINANCIAL HIGHLIGHTS (Unaudited)

DOLLARS IN THOUSANDS, EXCEPT PER SHARE DATA

As of

6/30/20183/31/201812/31/20179/30/20176/30/2017

Assets

Cash and due from banks$193,069$143,071$168,723$180,751$141,100

Interest bearing deposits with the Federal Reserve Bank and other banks and other short-term investments194,937123,27527,28070,98540,676

Cash and cash equivalents388,006266,346196,003251,736181,776

Time deposits in other financial institutions6,8036,2979,82019,79330,241

Securities:

Carried at fair value2,197,1172,027,6652,216,7532,093,3851,789,441

Held to maturity, at cost244,271249,766253,550256,355259,586

Other investments, at cost26,72522,98222,56323,17621,094

Loans held for sale55,68424,37644,56035,79548,848

Loans:

Held to maturity7,477,6976,746,0156,391,4646,373,4155,325,082

Allowance for loan losses(61,324)(58,656)(55,686)(54,885)(54,051)

Loans, net7,416,3736,687,3596,335,7786,318,5305,271,031

Premises, furniture and equipment, net199,959172,862174,301178,961163,003

Goodwill391,668270,305236,615236,615141,461

Core deposit intangibles and customer relationship intangibles, net52,69841,06335,20337,02822,850

Servicing rights, net31,99625,47125,85726,59934,736

Cash surrender value on life insurance159,302143,444142,818142,073120,281

Other real estate, net11,07411,80110,77713,2269,269

Other assets120,244106,126106,141122,355111,104

Total Assets$11,301,920$10,055,863$9,810,739$9,755,627$8,204,721

Liabilities and Equity

Liabilities

Deposits:

Demand$3,399,598$3,094,457$2,983,128$3,009,940$2,355,410

Savings4,864,7734,536,1064,240,3284,227,3403,704,579

Time1,224,773910,977923,453994,604870,180

Total deposits9,489,1448,541,5408,146,9098,231,8846,930,169

Short-term borrowings229,890131,240324,691171,871139,130

Other borrowings258,708276,118285,011301,473281,096

Accrued expenses and other liabilities68,43155,46062,67168,71548,356

Total Liabilities10,046,1739,004,3588,819,2828,773,9437,398,751

Stockholders' Equity

Preferred equity938938938938938

Common stock34,43831,06829,95329,94626,701

Capital surplus740,128557,990503,709503,262352,500

Retained earnings524,786500,959481,331468,556450,228

Accumulated other comprehensive loss(44,543)(39,450)(24,474)(21,018)(24,397)

Total Equity1,255,7471,051,505991,457981,684805,970

Total Liabilities and Equity$11,301,920$10,055,863$9,810,739$9,755,627$8,204,721

HEARTLAND FINANCIAL USA, INC.

CONSOLIDATED FINANCIAL HIGHLIGHTS (Unaudited)

DOLLARS IN THOUSANDS, EXCEPT PER SHARE DATA

For the Quarter Ended

June 30,For the Six Months Ended

June 30,

2018201720182017

Average Balances

Assets$10,643,306$8,333,301$10,204,061$8,283,681

Loans, net of unearned7,123,1825,376,8266,826,0185,371,271

Deposits9,018,9457,050,1268,637,1656,973,897

Earning assets9,614,8007,586,2569,238,3917,544,609

Interest bearing liabilities6,205,1875,146,2435,951,1755,168,475

Common stockholders' equity1,139,876791,0391,076,083771,464

Total stockholders' equity1,140,814791,9771,077,021772,575

Tangible common stockholders' equity(1)767,732625,929745,937611,050

Key Performance Ratios

Annualized return on average assets1.05%1.06%1.01%0.97%

Annualized return on average common equity (GAAP)9.81%11.13%9.58%10.44%

Annualized return on average tangible common equity (non-GAAP)(2)14.56%14.07%13.82%13.18%

Annualized ratio of net charge-offs to average loans0.12%0.14%0.11%0.18%

Annualized net interest margin (GAAP)4.23%3.94%4.21%3.95%

Annualized net interest margin, fully tax-equivalent (non-GAAP)(3)4.30%4.14%4.28%4.15%

Efficiency ratio, fully tax-equivalent(4)65.04%65.61%66.53%67.75%

Reconciliation of Return on Average Tangible Common Equity (non-GAAP)(5)

Net income available to common shareholders (GAAP)$27,866$21,949$51,121$39,945

Average common stockholders' equity (GAAP)$1,139,876$791,039$1,076,083$771,464

Less average goodwill325,781141,461288,185136,976

Less average core deposit intangibles and customer relationship intangibles, net46,36323,64941,96123,438

Average tangible common equity (non-GAAP)$767,732$625,929$745,937$611,050

Annualized return on average common equity (GAAP)9.81%11.13%9.58%10.44%

Annualized return on average tangible common equity (non-GAAP)14.56%14.07%13.82%13.18%

Reconciliation of Annualized Net Interest Margin, Fully Tax-Equivalent (non-GAAP)(6)

Net Interest Income (GAAP)$101,409$74,580$192,993$147,608

Plus tax-equivalent adjustment(7)1,5753,7963,1197,656

Net interest income, tax-equivalent (non-GAAP)$102,984$78,376$196,112$155,264

Average earning assets$9,614,800$7,586,256$9,238,391$7,544,609

Annualized net interest margin (GAAP)4.23%3.94%4.21%3.95%

Annualized net interest margin, fully tax-equivalent (non-GAAP)4.30%4.14%4.28%4.15%

(1) Calculated as common stockholders' equity less goodwill and core deposit intangibles and customer relationship intangibles, net.

(2) Refer to the "Reconciliation of Return on Average Tangible Common Equity (non-GAAP)" table.

(3) Refer to the "Reconciliation of Annualized Net Interest Margin, Fully Tax-Equivalent (non-GAAP)" table.

(4) Refer to the "Reconciliation of Non-GAAP Measure-Efficiency Ratio" table that follows for details of this non-GAAP measure.

(5) Return on average tangible common equity is net income available to common stockholders divided by average common stockholders' equity less goodwill and core deposit intangibles and customer deposit intangibles, net. This financial measure is included as it is considered to be a critical metric to analyze and evaluate financial condition and capital strength. This measure should not be considered a substitute for operating results determined in accordance with GAAP.

(6) Annualized net interest margin, fully tax-equivalent is a non-GAAP measure, which 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. This measure should not be considered a substitute for operating results determined in accordance with GAAP.

(7) Computed on a tax-equivalent basis using an effective tax rate of 21% beginning January 1, 2018, and 35% for all prior periods.

HEARTLAND FINANCIAL USA, INC.

CONSOLIDATED FINANCIAL HIGHLIGHTS (Unaudited)

DOLLARS IN THOUSANDS, EXCEPT PER SHARE DATA

For the Quarter Ended

6/30/20183/31/201812/31/20179/30/20176/30/2017

Average Balances

Assets$10,643,306$9,759,936$9,807,621$9,639,844$8,333,301

Loans, net of unearned7,123,1826,525,5536,343,9236,286,2645,376,826

Deposits9,018,9458,251,1408,293,0068,100,0287,050,126

Earning assets9,614,8008,857,8018,891,4328,726,2287,586,256

Interest bearing liabilities6,205,1875,694,3375,663,8165,697,7135,146,243

Common stockholders' equity1,139,8761,011,580986,026954,511791,039

Total stockholders' equity1,140,8141,012,518986,964955,449791,977

Tangible common stockholders' equity(1)767,732723,898713,018691,464625,929

Key Performance Ratios

Annualized return on average assets1.05%0.97%0.55%0.89%1.06%

Annualized return on average common equity (GAAP)9.81%9.32%5.50%8.99%11.13%

Annualized return on average tangible common equity (non-GAAP)(2)14.56%13.03%7.60%12.41%14.07%

Annualized ratio of net charge-offs to average loans0.12%0.08%0.28%0.31%0.14%

Annualized net interest margin (GAAP)4.23%4.19%4.14%4.08%3.94%

Annualized net interest margin, fully tax-equivalent (non-GAAP)(3)4.30%4.26%4.30%4.26%4.14%

Efficiency ratio, fully tax-equivalent(4)65.04%68.21%62.26%64.54%65.61%

Reconciliation of Return on Average Tangible Common Equity (non-GAAP)(5)

Net income available to common shareholders (GAAP)$27,866$23,255$13,659$21,622$21,949

Average common stockholders' equity (GAAP)$1,139,876$1,011,580$986,026$954,511$791,039

Less average goodwill325,781250,172236,615226,097141,461

Less average core deposit intangibles and customer relationship intangibles, net46,36337,51036,39336,95023,649

Average tangible common equity (non-GAAP)$767,732$723,898$713,018$691,464$625,929

Annualized return on average common equity (GAAP)9.81%9.32%5.50%8.99%11.13%

Annualized return on average tangible common equity (non-GAAP)14.56%13.03%7.60%12.41%14.07%

Reconciliation of Annualized Net Interest Margin, Fully Tax-Equivalent (non-GAAP)(6)

Net Interest Income (GAAP)$101,409$91,584$92,856$89,844$74,580

Plus tax-equivalent adjustment(7)1,5751,5443,5583,9253,796

Net interest income, fully tax-equivalent (non-GAAP)$102,984$93,128$96,414$93,769$78,376

Average earning assets$9,614,800$8,857,801$8,891,432$8,726,228$7,586,256

Annualized net interest margin (GAAP)4.23%4.19%4.14%4.08%3.94%

Annualized net interest margin, fully tax-equivalent (non-GAAP)4.30%4.26%4.30%4.26%4.14%

(1) Calculated as common stockholders' equity less goodwill and core deposit intangibles and customer relationship intangibles, net.

(2) Refer to the "Reconciliation of Return on Average Tangible Common Equity (non-GAAP)" table.

(3) Refer to the "Reconciliation of Annualized Net Interest Margin, Fully Tax-Equivalent (non-GAAP)" table.

(4) Refer to the "Reconciliation of Non-GAAP Measure-Efficiency Ratio" table that follows for details of this non-GAAP measure.

(5) Return on average common tangible equity is net income available to common stockholders divided by average common stockholders' equity less goodwill and core deposit intangibles and customer relationship intangibles, net. This financial measure is included as it is considered to be a critical metric to analyze and evaluate financial condition and capital strength. This measure should not be considered a substitute for operating results determined in accordance with GAAP.

(6) Annualized net interest margin, fully tax-equivalent is a non-GAAP measure, which 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. This measure should not be considered a substitute for operating results determined in accordance with GAAP.

(7) Computed on a tax-equivalent basis using an effective tax rate of 21% beginning January 1, 2018, and 35% for all prior periods.

HEARTLAND FINANCIAL USA, INC.

CONSOLIDATED FINANCIAL HIGHLIGHTS (Unaudited)

DOLLARS IN THOUSANDS, EXCEPT PER SHARE DATA

For the Quarter Ended

June 30,For the Six Months Ended

June 30,

Reconciliation of Non-GAAP Measure-Efficiency Ratio(1)2018201720182017

Net interest income$101,409$74,580$192,993$147,608

Tax-equivalent adjustment(2)1,5753,7963,1197,656

Fully tax-equivalent net interest income102,98478,376196,112155,264

Noninterest income27,63425,62452,35051,517

Securities (gains)/losses, net259(1,392)(1,182)(3,874)

Unrealized (gain)/loss on equity securities, net(71)—(43)—

Adjusted income$130,806$102,608$247,237$202,907

Total noninterest expenses$88,882$69,298$172,528$141,038

Less:

Core deposit intangibles and customer relationship intangibles amortization2,2741,2184,1372,389

Partnership investment in tax credit projects—876—876

(Gain)/loss on sales/valuations of assets, net1,528(112)1,331300

Restructuring expenses——2,564—

Adjusted noninterest expenses$85,080$67,316$164,496$137,473

Efficiency ratio, fully tax-equivalent (non-GAAP)65.04%65.61%66.53%67.75%

Reconciliation of Non-GAAP Measure-Efficiency Ratio(1)For the Quarter Ended

6/30/20183/31/201812/31/20179/30/20176/30/2017

Net interest income$101,409$91,584$92,856$89,844$74,580

Tax-equivalent adjustment(2)1,5751,5443,5583,9253,796

Fully tax-equivalent net interest income102,98493,12896,41493,76978,376

Noninterest income27,63424,71625,52824,97725,624

Securities (gains)/losses, net259(1,441)(1,420)(1,679)(1,392)

Unrealized (gain)/loss on equity securities, net(71)28———

Gain on extinguishment of debt——(1,280)——

Adjusted income$130,806$116,431$119,242$117,067$102,608

Total noninterest expenses$88,882$83,646$77,878$78,759$69,298

Less:

Core deposit intangibles and customer relationship intangibles amortization2,2741,8631,8251,8631,218

Partnership investment in tax credit projects——984—876

(Gain)/loss on sales/valuation of assets, net1,528(197)8331,342(112)

Restructuring expenses—2,564———

Adjusted noninterest expenses$85,080$79,416$74,236$75,554$67,316

Efficiency ratio, fully tax-equivalent (non-GAAP)65.04%68.21%62.26%64.54%65.61%

(1) 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 the table. This measure should not be considered a substitute for operating results determined in accordance with GAAP.

(2) Computed on a tax-equivalent basis using an effective tax rate of 21% beginning January 1, 2018, and 35% for all prior periods.

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

6/30/20183/31/201812/31/20179/30/20176/30/2017

Common Share Data

Book value per common share$36.44$33.81$33.07$32.75$30.15

Tangible book value per common share (non-GAAP)(1)$23.53$23.79$23.99$23.61$24.00

Common shares outstanding, net of treasury stock34,438,44531,068,23929,953,35629,946,06926,701,226

Tangible common equity ratio (non-GAAP)(2)7.46%7.59%7.53%7.46%7.97%

Reconciliation of Tangible Book Value Per Common Share (non-GAAP)(3)

Common stockholders' equity (GAAP)$1,254,809$1,050,567$990,518$980,746$805,032

Less goodwill391,668270,305236,615236,615141,461

Less core deposit intangibles and customer relationship intangibles, net52,69841,06335,20337,02822,850

Tangible common stockholders' equity (non-GAAP)$810,443$739,199$718,700$707,103$640,721

Common shares outstanding, net of treasury stock34,438,44531,068,23929,953,35629,946,06926,701,226

Common stockholders' equity (book value) per share (GAAP)$36.44$33.81$33.07$32.75$30.15

Tangible book value per common share (non-GAAP)$23.53$23.79$23.99$23.61$24.00

Reconciliation of Tangible Common Equity Ratio (non-GAAP)(4)

Total assets (GAAP)$11,301,920$10,055,863$9,810,739$9,755,627$8,204,721

Less goodwill391,668270,305236,615236,615141,461

Less core deposit intangibles and customer relationship

intangibles, net52,69841,06335,20337,02822,850

Total tangible assets (non-GAAP)$10,857,554$9,744,495$9,538,921$9,481,984$8,040,410

Tangible common equity ratio (non-GAAP)7.46%7.59%7.53%7.46%7.97%

Loan Data

Loans held to maturity:

Commercial and commercial real estate$5,721,138$5,129,777$4,809,875$4,777,856$3,803,011

Residential mortgage683,051624,725624,279635,611596,385

Agricultural and agricultural real estate562,353518,386511,588511,764495,243

Consumer512,899474,929447,484450,088431,052

Unearned discount and deferred loan fees(1,744)(1,802)(1,762)(1,904)(609)

Total loans held to maturity$7,477,697$6,746,015$6,391,464$6,373,415$5,325,082

Other Selected Trend Information

Effective tax rate21.09%18.04%61.13%28.74%26.85%

Full time equivalent employees2,2162,0222,0082,0241,862

Total residential mortgage loan applications$341,978$234,825$232,946$271,476$308,113

Residential mortgage loans originated$225,563$149,768$185,580$198,911$216,637

Residential mortgage loans sold$201,808$127,963$168,527$188,501$180,296

Residential mortgage loan servicing portfolio$4,158,107$3,535,988$3,558,090$3,557,866$4,340,243

(1) Refer to the "Reconciliation of Tangible Book Value Per Common Share (non-GAAP)" table.

(2) Refer to the "Reconciliation of Tangible Common Equity Ratio (non-GAAP)" table.

(3) Tangible book value per common share is total common stockholders' equity less goodwill and core deposit intangibles and customer relationship intangibles, net, divided by common shares outstanding, net of treasury. This is a non-GAAP financial measure but has been included as it is considered to be a critical metric with which to analyze and evaluate financial condition and capital strength. This measure should not be considered a substitute for operating results determined in accordance with GAAP.

(4) The tangible common equity ratio is total common stockholders' equity less goodwill and core deposit intangibles and customer relationship intangibles, net, divided by total assets less goodwill and core deposit intangibles and customer relationship intangibles, net. This is a non-GAAP financial measure but has been included as it is considered to be a critical metric with which to analyze and evaluate financial condition and capital strength. This measure should not be considered a substitute for operating results determined in accordance with GAAP.

HEARTLAND FINANCIAL USA, INC.

CONSOLIDATED FINANCIAL HIGHLIGHTS (Unaudited)

DOLLARS IN THOUSANDS, EXCEPT PER SHARE DATA

As of and for the Quarter Ended

6/30/20183/31/201812/31/20179/30/20176/30/2017

Allowance for Loan Losses

Balance, beginning of period$58,656$55,686$54,885$54,051$54,999

Provision for loan losses4,8314,2635,3285,705889

Charge-offs(3,164)(2,224)(5,628)(5,759)(2,766)

Recoveries1,0019311,101888929

Balance, end of period$61,324$58,656$55,686$54,885$54,051

Asset Quality

Nonaccrual loans$69,376$64,806$62,581$63,456$65,393

Loans past due ninety days or more as to interest or principal payments54228302,348698

Other real estate owned11,07411,80110,77713,2269,269

Other repossessed assets499423411773675

Total nonperforming assets$81,003$77,052$74,599$79,803$76,035

Performing troubled debt restructured loans$4,012$3,206$6,617$10,040$11,157

Nonperforming Assets Activity

Balance, beginning of period$77,052$74,599$79,803$76,035$75,667

Net loan charge offs(2,163)(1,293)(4,527)(4,871)(1,837)

New nonperforming loans16,2548,5469,9119,11713,700

Acquired nonperforming assets7,9732,459—7,991—

Reduction of nonperforming loans(1)(15,696)(6,549)(7,177)(5,183)(7,443)

OREO/Repossessed assets sales proceeds(1,541)(657)(2,917)(3,328)(3,734)

OREO/Repossessed assets writedowns, net(993)(16)(146)(56)(259)

Net activity at Citizens Finance Co.117(37)(348)98(59)

Balance, end of period$81,003$77,052$74,599$79,803$76,035

Asset Quality Ratios

Ratio of nonperforming loans to total loans0.93%0.96%0.99%1.03%1.24%

Ratio of nonperforming assets to total assets0.72%0.77%0.76%0.82%0.93%

Annualized ratio of net loan charge-offs to average loans0.12%0.08%0.28%0.31%0.14%

Allowance for loan losses as a percent of loans0.82%0.87%0.87%0.86%1.02%

Allowance for loan losses as a percent of nonperforming loans88.32%90.48%87.82%83.41%81.78%

Loans delinquent 30-89 days as a percent of total loans0.30%0.21%0.27%0.33%0.38%

(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

June 30, 2018June 30, 2017

Average

BalanceInterestRateAverage

BalanceInterestRate

Earning Assets

Securities:

Taxable$1,890,468$12,2702.60%$1,516,745$8,5992.27%

Nontaxable(1)448,8444,5374.05624,9157,7234.96

Total securities2,339,31216,8072.882,141,66016,3223.06

Interest bearing deposits with the Federal Reserve Bank and other banks and other short-term investments211,4147681.46121,7783451.14

Federal funds sold———1,26230.95

Loans:(2)

Commercial and commercial real estate(1)5,403,44771,3015.293,824,06146,9124.92

Residential mortgage685,0057,5624.43633,3446,5094.12

Agricultural and agricultural real estate(1)542,2496,8505.07488,2225,8074.77

Consumer492,4819,1927.49431,1998,2897.71

Fees on loans2,504—1,670—

Less: allowance for loan losses(59,108)——(55,270)——

Net loans7,064,07497,4095.535,321,55669,1875.21

Total earning assets9,614,800114,9844.80%7,586,25685,8574.54%

Nonearning Assets1,028,506747,045

Total Assets$10,643,306$8,333,301

Interest Bearing Liabilities

Savings$4,748,306$5,5350.47%$3,881,219$2,5050.26%

Time, $100,000 and over482,5931,0660.89350,7867270.83

Other time deposits558,9971,3820.99479,1649310.78

Short-term borrowings152,5765471.44153,565900.24

Other borrowings262,7153,4705.30281,5093,2284.60

Total interest bearing liabilities6,205,18712,0000.78%5,146,2437,4810.58%

Noninterest Bearing Liabilities

Noninterest bearing deposits3,229,0492,338,957

Accrued interest and other liabilities68,25656,124

Total noninterest bearing liabilities3,297,3052,395,081

Stockholders' Equity1,140,814791,977

Total Liabilities and Stockholders' Equity$10,643,306$8,333,301

Net interest income, fully tax-equivalent (non-GAAP)(1)$102,984$78,376

Net interest spread(1)4.02%3.96%

Net interest income, fully tax-equivalent (non-GAAP) to total earning assets(3)4.30%4.14%

Interest bearing liabilities to earning assets64.54%67.84%

Reconciliation of annualized net interest margin, fully tax-equivalent (non-GAAP)(3)

Net interest income, fully tax-equivalent (non-GAAP)$102,984$78,376

Adjustments for tax-equivalent interest(1)(1,575)(3,796)

Net interest income (GAAP)$101,409$74,580

Average earning assets$9,614,800$7,586,256

Annualized net interest margin (GAAP)4.23%3.94%

Annualized net interest margin, fully tax-equivalent (non-GAAP)4.30%4.14%

(1) Computed on a tax-equivalent basis using an effective tax rate of 21% beginning January 1, 2018, and 35% for all prior periods.

(2) Nonaccrual loans are included in the average loans outstanding.

(3) Annualized net interest margin, fully tax-equivalent is a non-GAAP measure, which 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. This measure should not be considered a substitute for operating results determined in accordance with GAAP.

HEARTLAND FINANCIAL USA, INC.

CONSOLIDATED FINANCIAL HIGHLIGHTS (Unaudited)

DOLLARS IN THOUSANDS

For the Six Months Ended

June 30, 2018June 30, 2017

Average

BalanceInterestRateAverage

BalanceInterestRate

Earning Assets

Securities:

Taxable$1,847,858$23,8472.60%$1,483,087$16,8522.29%

Nontaxable(1)448,7439,0674.07635,16815,7094.99

Total securities2,296,60132,9142.892,118,25532,5613.10

Interest bearing deposits with the Federal Reserve Bank and other banks and other short-term investments173,3491,1751.37109,0955541.02

Federal funds sold———79130.76

Loans:(2)

Commercial and commercial real estate(1)5,158,483134,1145.243,818,68992,8254.90

Residential mortgage663,71114,4134.38639,90213,1924.16

Agricultural and agricultural real estate(1)528,09312,8544.91485,66511,3614.72

Consumer475,73117,8527.57427,01516,3427.72

Fees on loans4,420—3,430—

Less: allowance for loan losses(57,577)——(54,803)——

Net loans6,768,441183,6535.475,316,468137,1505.20

Total earning assets9,238,391217,7424.75%7,544,609170,2684.55%

Nonearning Assets965,670739,072

Total Assets$10,204,061$8,283,681

Interest Bearing Liabilities

Savings$4,554,484$9,3260.41%$3,859,730$4,6100.24%

Time, $100,000 and over430,3091,8420.86349,7891,4520.84

Other time deposits544,8202,5810.96481,7361,8310.77

Short-term borrowings150,1718151.09194,2722270.24

Other borrowings271,3917,0665.25282,9486,8844.91

Total interest bearing liabilities5,951,17521,6300.73%5,168,47515,0040.59%

Noninterest Bearing Liabilities

Noninterest bearing deposits3,107,5522,282,642

Accrued interest and other liabilities68,31359,989

Total noninterest bearing liabilities3,175,8652,342,631

Stockholders' Equity1,077,021772,575

Total Liabilities and Stockholders' Equity$10,204,061$8,283,681

Net interest income, fully tax-equivalent (non-GAAP)(1)$196,112$155,264

Net interest spread(1)4.02%3.96%

Net interest income, fully tax-equivalent (non-GAAP) to total earning assets(3)4.28%4.15%

Interest bearing liabilities to earning assets64.42%68.51%

Reconciliation of annualized net interest margin, fully tax-equivalent (non-GAAP)(3)

Net interest income, fully tax-equivalent (non-GAAP)$196,112$155,264

Adjustments for tax-equivalent interest(1)(3,119)(7,656)

Net interest income (GAAP)$192,993$147,608

Average earning assets$9,238,391$7,544,609

Annualized net interest margin (GAAP)4.21%3.95%

Annualized net interest margin, fully tax-equivalent (non-GAAP)4.28%4.15%

(1) Computed on a tax-equivalent basis using an effective tax rate of 21% beginning January 1, 2018, and 35% for all prior periods.

(2) Nonaccrual loans are included in the average loans outstanding.

(3) Annualized net interest margin, fully tax-equivalent is a non-GAAP measure, which 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. This measure should not be considered a substitute for operating results determined in accordance with GAAP.

HEARTLAND FINANCIAL USA, INC.

SELECTED FINANCIAL DATA - SUBSIDIARY BANKS (Unaudited)

DOLLARS IN THOUSANDS

As of and For the Quarter Ended

6/30/20183/31/201812/31/20179/30/20176/30/2017

Total Assets

Citywide Banks(1)$2,295,261$2,299,818$2,289,956$2,391,727$817,859

Dubuque Bank and Trust Company1,500,1081,490,1001,443,4191,479,6471,441,655

New Mexico Bank & Trust1,466,3111,416,7881,453,5341,425,1851,407,991

First Bank & Trust1,123,559————

Wisconsin Bank & Trust1,034,0751,017,0531,079,2221,030,1921,035,628

Premier Valley Bank846,215805,014925,078886,495850,956

Illinois Bank & Trust815,905751,371783,127761,285740,153

Minnesota Bank & Trust660,469631,852210,157217,246216,957

Arizona Bank & Trust653,596633,474602,182566,951566,339

Morrill & Janes Bank and Trust Company602,630648,568654,871719,246748,286

Rocky Mountain Bank504,243490,917487,136486,790476,829

Total Deposits

Citywide Banks(1)$1,867,626$1,914,726$1,895,540$1,924,605$682,872

Dubuque Bank and Trust Company1,136,4311,193,2711,084,4151,139,5121,178,368

New Mexico Bank & Trust1,242,6731,202,0511,229,3241,221,1341,190,758

First Bank & Trust887,181————

Wisconsin Bank & Trust874,035835,919890,835852,489874,845

Premier Valley Bank696,460660,070705,142714,605681,298

Illinois Bank & Trust753,022674,391692,227691,680669,532

Minnesota Bank & Trust561,257533,893178,036189,749193,365

Arizona Bank & Trust558,895567,515522,490500,270493,419

Morrill & Janes Bank and Trust Company498,798558,174563,638605,390627,857

Rocky Mountain Bank443,359429,000424,487426,405416,436

Net Income

Citywide Banks(1)$7,018$5,463$1,069$4,541$746

Dubuque Bank and Trust Company4,4263,2149,0277033,477

New Mexico Bank & Trust7,0436,4442,9544,9725,855

First Bank & Trust1,925————

Wisconsin Bank & Trust2,4702,6172,2103,3683,448

Premier Valley Bank2,6642,3731,5082,9072,573

Illinois Bank & Trust2,4212,7127942,2861,984

Minnesota Bank & Trust581762106791563

Arizona Bank & Trust3,6232,104(103)1,4511,073

Morrill & Janes Bank and Trust Company9611,1866501,7602,210

Rocky Mountain Bank1,1851,1721,7691,6311,732

(1) Formerly known as Centennial Bank and Trust.