Heartland Financial USA, Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2015. For the quarter, the company reported net income available to common stockholders of $14.4 million, or $0.67 per diluted common share compared to $12.1 million, or $0.64 per diluted common share, for the fourth quarter of 2014. Return on average tangible common equity was 12.78% and return on average assets was 0.79% compared to 13.22% and 0.80%, respectively, for the same quarter in 2014. Net interest income increased $10.5 million or 20% to $62.7 million in the fourth quarter of 2015 from the $52.2 million recorded in the fourth quarter of 2014. The increase in interest income in the fourth quarter of 2015, as compared to the fourth quarter of 2014, was primarily due to an increase in average earning assets, which increased $1.00 billion or 18% during the fourth quarter of 2015. Income before income taxes was $18.95 million compared to $16.59 million a year ago. Annualized return on average assets was 0.79% compared to 0.80% a year ago. Annualized return on average tangible common equity was 13.90% compared to 12.04% a year ago. Tangible book value per common share was $20.60 as on December 31, 2015 compared to $19.99 as on December 31, 2014. Adjusted income was $86,764,000 against $74,746,000 a year ago. Book value per common share was $25.92 as on December 31, 2015.

Net income available to common stockholders for the year ended December 31, 2015, was $59.2 million, or $2.83 per diluted common share, compared to $41.1 million, or $2.19 per diluted common share, recorded during the prior year. Return on average common equity was 11.92% and return on average assets was 0.88% for 2014, compared to 10.62% and 0.70%, respectively, for 2014. Income before income taxes was $80.94 million compared to $54.99 million a year ago. Total interest income was $265.96 million compared to $237.04 million a year ago. Net interest income was $233.99 million compared to $203.07 million a year ago. Adjusted income was $342,525,000 against $291,927,000 a year ago.

Net charge-offs were $591,000 for the fourth quarter. $931,000 of charge-offs were taken by consumer finance company.