Heartland BancCorp Announces Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Declares Cash Dividend for the Fourth Quarter of 2014, Payable on April 10, 2015
January 20, 2015 at 04:26 pm EST
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Heartland BancCorp announced consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported net interest income of $6,126,121 compared to $5,493,650 a year ago. Net interest income after provision for loan losses was $5,901,121 compared to $18,819,618 a year ago. Income before income tax was $2,273,310 compared to $1,824,479 a year ago. Net income was $1,656,085 or $1.05 per diluted share compared to $1,404,109 or $0.90 per diluted share a year ago.
For the year, the company reported net interest income of $ 22,846,987 compared to $20,789,618 a year ago. Net interest income after provision for loan losses was $21,591,987 compared to $21,591,987 a year ago. Income before income tax was $8,366,578 compared to $6,887,435 a year ago. Net income was $6,081,214 or $3.87 per diluted share compared to $5,216,160 or $3.34 per diluted share a year ago. Book value per share as at December 31, 2014 was $39.05 compared to $35.00 a year ago. Tangible book value per common shares as at December 31, 2014 was $38.79 compared to $34.73 a year ago.
The company announced that it's board of directors declared cash dividend for the fourth quarter of 2014 of $0.3547 per share. The dividend will be payable on April 10, 2015 to shareholders of record March 25, 2015.
Heartland BancCorp is a financial holding company. The Companyâs principal activity is the ownership and management of its subsidiaries, Heartland Bank (the Bank) and TransCounty Title Agency, LLC. The Bank is primarily engaged in providing a full range of banking and financial services to individual and corporate customers in central Ohio and northern Kentucky. The Bank operates approximately 19 full-service offices located in Fairfield, Franklin and Licking Counties of Central Ohio and Boone, Campbell and Kenton counties of Northern Kentucky. It offers personal banking, business banking and lending services and products. Personal banking offering includes checking, savings, online banking, mobile wallet, rate center, debit and credit cards, and additional products and services. Business banking offering includes checking, savings, treasury management, products and services, and rate center. Lending solutions include home mortgage, personal loan, business loan, agribusiness and other.
Heartland BancCorp Announces Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Declares Cash Dividend for the Fourth Quarter of 2014, Payable on April 10, 2015