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Heartland Financial USA, Inc. Announces Completion of Its
Redemption of Trust Preferred Securities
DUBUQUE, Iowa, Oct. 1 /PRNewswire-FirstCall/ -- Heartland Financial USA, Inc.
(NASDAQ:HTLF) (the "Company") announced that Heartland Financial Capital Trust
I (the "Trust"), a trust subsidiary of the Company, redeemed all of its 9.60%
Trust Preferred Securities (the "Trust Preferred Securities") (AMEX:HFT) and
its 9.60% Common Securities at a redemption price equal to the $25.00
liquidation amount of each security plus all accrued and unpaid interest per
security. The redemption was completed on September 30, 2004. The Trust
Preferred Securities were originally issued in 1999 and were listed on the
American Stock Exchange.
HFT.Pr holders do not need to take any action to receive payment for the
redemption of the Trust Preferred Securities. On September 30, 2004, funds
were deposited with the Depository Trust Corporation ("DTC") to pay the
redemption price for all the Trust Preferred Securities. DTC will distribute
the funds to the participants.
The Trust took such action in connection with the concurrent redemption by the
Company of all of its $25,780,000 9.60% Debentures due September 30, 2029 which
were held exclusively by the Trust. The Debentures were redeemed on September
30, 2004 at a redemption price equal to the principal outstanding amount of the
Debentures plus all accrued and unpaid interest.
About Heartland Financial USA:
Heartland is a $2.5 billion financial services company with eight banks in
Iowa, Illinois, Wisconsin, New Mexico, Arizona and Montana:
Dubuque Bank and Trust Company, with eight offices in Dubuque, Epworth,
Farley and Holy Cross, Iowa
Galena State Bank and Trust Company, with three offices in Galena and
Stockton, Illinois
First Community Bank, with three offices in Keokuk, Iowa and Carthage,
Illinois
Riverside Community Bank, with three offices in Rockford, Illinois
Wisconsin Community Bank, with seven offices in Cottage Grove, Fitchburg,
Green Bay, Middleton, Monroe and Sheboygan, Wisconsin and Minneapolis,
Minnesota
New Mexico Bank & Trust, with twelve offices in Albuquerque, Clovis,
Melrose, Portales and Santa Fe, New Mexico
Arizona Bank & Trust, with two offices in Mesa and Chandler, Arizona
Rocky Mountain Bank, with eight offices in Bigfork, Billings, Bozeman,
Broadus, Plains, Plentywood, Stevensville and Whitehall, Montana
Other subsidiaries include:
ULTEA, Inc., a fleet management company with offices in Madison,
Wisconsin and Chicago, Illinois
Citizens Finance Co., a consumer finance company with offices in Madison
and Appleton, Wisconsin, Dubuque, Iowa, and Rockford, Illinois
HTLF Capital Corp., an investment banking firm in Denver, Colorado
Heartland's shares are traded on The Nasdaq Stock Market under the symbol HTLF.
Additional information about Heartland is available through our website at
http://www.htlf.com/ .
Special Note Concerning Forward-Looking Statements
This press release contains, and future oral and written statements of
Heartland Financial USA, Inc. (the "Company") and its management may contain,
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995 with respect to the financial condition, results
of operations, plans, objectives, future performance and business of the
Company. Forward-looking statements, which may be based upon beliefs,
expectations and assumptions of the Company's management and on information
currently available to management, are generally identifiable by the use of
words such as "believe," "expect," "anticipate," "plan," "intend," "estimate,"
"may," "will," "would," "could," "should" or other similar expressions.
Additionally, all statements in this press release, including forward-looking
statements, speak only as of the date they are made, and the Company undertakes
no obligation to update any statement in light of new information or future
events. Additional information concerning the Company and its business,
including additional factors that could materially affect the Company's
financial results, is included in the Company's filings with the Securities and
Exchange Commission.
DATASOURCE: Heartland Financial USA, Inc.
CONTACT: John K. Schmidt, Chief Operating Officer and Chief Financial
Officer of Heartland Financial USA, Inc., +1-563-589-1994,
; General Inquiries, Jeff Wilhoit, +1-312-640-6757,
, or Analyst Inquiries, Shelly Faaborg,
+1-310-407-6555, , both of Financial
Relations Board
Web Site: http://www.htlf.com/