Heartland Financial USA, Inc. Announces Completion of Its Redemption of Trust Preferred Securities
October 01 2004 - 5:08PM
PR Newswire (US)
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/
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