HTLF - Earnings call transcript Q1 2017 | Heartland Financial USA Inc

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Operator

Greetings, and welcome to the Heartland Financial USA, Inc. and FirstBank Lubbock Bancshares, Inc. Joint Conference Call. [Operator Instructions].

As a reminder, this conference is being recorded. FirstBank merger. a and describing press Heartland proposed the evening, Lubbock joint distributed release Yesterday is on at there copy, www.htlf.com. If anyone you receive did may a not access it Heartland's at this website call who

Heartland; a CEO Fuller, website Heartland; may section. Chairman Executive Heartland's With and Additionally, available today of from investor of in and presentation Chief announcement be detailing is Barry slide management and on the us accessed of FirstBank Orr, relations Chairman the are Officer Heartland. President Lynn Bryan the provide Lee, will Bruce Inc.; the to Chief proposed of Bancshares, Vice open Executive Officer a the call and we your These and President and of Lubbock McKeag, will then questions. merger, up brief Financial summary executives

like the guidelines Securities forward-looking by begin everyone management and presentation, remind Exchange information the defined we that on under be of the providing falls Commission. the will I'd to statements as today some Before

statements out of these and the part As segments; hopes, future those beliefs could materially projected. are the and predictions from any guidelines, this expectations of differ forward-looking must point presentation concerning results company's actual that made I during

to Additional the the XX-Q is factors on from in [Operator Instructions]. obtained included, website. and SEC's information company's the company's XX-K filings, time be these may or which time, on website

ahead, call As a the Lynn I to over reminder, Please sir. turn this conference now Mr. go is at being time, recorded. At will this Fuller Heartland.

Lynn Fuller

agreement FirstBank our good Inc. merge us last exciting announced And distributed Lubbock like Rob. news thank joining the and a companies. signing this when of jointly you, Thank discuss for welcome Bancshares, Heartland definitive the night morning. to to I'd to and morning everyone we

in detailing to our investor I'd and the online start, www.htlf.com, relations last at we press release remind slide that section. are announcement available evening's presentation like Before everyone

Lee, will ask turn for We've building community time, opportunities I'll over Heartland's have on on respect with for this and during call known over West X Bryan become financial elements news. our highlights solidly banks. of and, comments. then a merger. analysis management will and Barry CFO, partnership. then profitable highest the identified up finish expansion FirstBank's in and and of & provide that Board in a and Bruce we'll Well, For for many to EVP The the of the platform a Barry, years this recorded strategic will Trust for in have transaction. very the the color Heartland's Barry earning provide our XX-year bank I'll Orr is many additional indeed Lubbock XXth today's team FirstBank call, exciting And the Orr President, few McKeag, history, Texas Heartland's the Directors from who bank's of announcement. other successes touch companies of charter FirstBank franchise addition Texas. more his a

the the We Clovis, Eastern proposed with criteria linking Bank as like previous Heartland's we've close subsidiary, Mexico, geographical XX, New New New also just highway Lubbock connection merger fits operates in in & Mexico to This ideal down which Mexico. described Trust calls. well to

million, $XXX of goal FirstBank assets state where each in assets very close with $X we of First, to billion reaching our in is operate.

X% its in a with brings deposit solid market the and FirstBank fourth and Second, over share. share market Lubbock bank surrounding communities largest is

accretive bank with mission for risk expense combined borrowings. financial of we strong built rate. finally, and And with XX% a the in is a the is care completed acquirer, health West of diverse and completing support, Third, regional proven bank no positions, Heartland's first Fifth, XX their operations we've acquisitions track believe years. culture fit, share as great the it's vision, current as low it's in execution transaction experienced hub retaining FirstBank thereafter. management are identified makes our year low, team and recent and noninterest acquisitions is Sixth, record stockholders, and some franchise the within serves our already Barry with converting Texas Also, deposit further, strongly expand good an XXXX. reduction. as FirstBank attractive a in with sense a we Lubbock unemployment having economy a leading Texas' And of successfully and has an companies a accretive only bank's since Orr Tech. to eager is growing both core market education Fourth, values. With X candidates. having community common seventh, for the

impacts significant noted, endeavor next continue of the this address Minnesota will boards Signature Barry billion detail of I'm billion. growth, in year project Chairman Minnetonka, and a acquisition the Bryan you've billion Bancshares, FirstBank As with announced assets $XX Act. the assets And will and as with sure leap will approaching we to mitigate currently regulatory this of organic in of a we few That with $XX.X minutes. recently coupled as Dodd-Frank Trust. by transaction threshold. will revenue Inc. Heartland over approach mid-XXXX and & adverse Orr the CEO and combined provides the McKeag more chairs $XX FirstBank finish

become the our these going will bank nucleolus will Texas and excited Garland President what next flagship Heartland charter continue individuals Additionally, forming Greg will be leading forward. in organization. the the soon of billion-dollar as We're FirstBank's in

color of X.X IRR on have book highlight Bryan want our value a on metrics, produce in McKeag tangible deal earnings will based the to per XXXX, excess this deal be providing an and earn-back the immediately in XX% accretive years. to I modeling, be of will that, share fact While

of with margins the has on financials, for Post expansion. margin Western better of West. net no focused Midwest shifts the attractive X.X% with U.S. a further the FirstBank to valuations assets transaction. our Midwest asset bank, Signature from balance CEO Heartland's As point, of and and know, geographic growth our balancing solid our of interest drawn West. and At This of the many of I'm pending the much thoughts will his this Heartland's markets. and will enjoyed We're offer Western remain to many introduce of addition you We Orr, Heartland year-to-date. including who FirstBank, and closing be our by out XX% Barry to Chairman steady exception markets is on approximately to pleased diversification, committed Barry? strategy and acquisition Western credit the

Barry Orr

on Lynn's well of can add vision express you've X & together. FirstBank our the welcome shown And Lynn. want the of interest our other precipitants. do Heartland behalf you, our and me call management for board banks Briefly, team, Thank in what to I my to let appreciation as Trust as to

Our very management start. with Heartland team comfortable felt from the

from will As the and community, we a transition. expect Slide benefits bullets smooth X And in combination on we've of companies. so that X the very common in culture, much will a identified result with numerous terms credit indicate, of

advantages distinct joining many partnership with see Heartland, everything also enhances We of this as it do. in we

the brand, our our essential fact all customer First, management is retain to relationships. our our we that retaining branches team,

home is continuity part most with best X the business. retain bank to those And the of high Heartland Joining importance Heartland and a other very employees complete. any customer-facing way would merger mortgage fact that of is embraces after ensure losing assets. the is mean Becoming

new the PrimeWest punch XX% really net touch, to appreciate a support bank offering of income. subsidiary company. our the has bank to Corp. clients the mortgage this We Mortgage XX% been to bank's with motto Heartland's big holding functions, and success, major as about product the us our communication merger offer technologies, annual contributor ability shifting much with to Our a advanced functions, of provides to broader burden while regulatory adding

FirstBank, type we embraced the of philosophy the culture. attract have amazing, priority put it's values; that of family a family first. and can with on you talent always We

can't that. just underestimate You

it work service. of people these organization this service look will of Heartland but many values us, more kind partner call across that the working our amazing has of that the thought, customers common grow to with door. this to for And they and selected how our you. it's return Lynn, in the bank Texas. the forward make exceptional We these together with culture Our to the and worked folks. as moment hug-your-neck preserve successful. lobby with has even is We the corny, years And to walk well made and It's feel again to welcome goal call I

Lynn Fuller

Thank and the of Trust you, FirstBank Barry, your over for company Bruce? to your some kind merger. this with words. strategic And And has implications & we highly now Bruce for are and specifics built. the the team impressed call on FirstBank Lee turn I'll

Bruce Lee

Thank you, Lynn.

the be you Let me I both the of Trust X & and wish it itself. of begin the FirstBank X of and speaking and the an if to Slides along. X, company follow market to attractiveness presentation, will serves overview with

and in really it expansion, and Heartland's for light familiarity state region. new our presence sense relatively a Mexico of with growing well-established is Texas the While makes in New

prospects balance would X% rate through and a point over Worth Central as the led university, adds, XX% new private X,XXX to In United the current projected household by high-growth States. a addition I or to unemployment Texas U.S. excited further a Lubbock Big of the diversified to economy, the ample business. create we to including of Lubbock name we very care banks year Tech, XX,XXX for an opportunity the of by of with projected of Heartland low our CNBC with And expansion. loan Texas largest mortgage income also public Dallas-Fort and growth start This its area's FirstBank projected in are X markets health The state, the like and banking many economy over visits M&A. and top Lubbock, the a commercial full-service cities metropolitan over out of growth rate and North XX which the inland driven population and XXXX. growth at to offices is were the positive momentum enrollment employers, employees. in of metroplex, in education, the for by The agriculture; near X.X%, origination in area one and stabilized future the centers On impressed XXX

is & exceptional of performance its return X.X%. chip equity as on assets the account average metrics. Lynn earlier, X.X%; franchise assets net XX%; of margin interest year-to-date ratio X.XX%; to and for course, nonperformers-to-total FirstBank's of Tax for of main attraction Texas on average impressed XX%; us a of return status, a mentioned efficiency Of with blue sub-S we FirstBank Trust, with affected are West

Heartland McKeag, the the the provide some will call on when second over the contribution metrics. who color quarter are and bank the adds subsidiary, very We production loan make servicing. $XXX acquiring average Primewest summary, Mortgage be $XXX in brings profitable annual pleased loan also and million FirstBank I'll growing FirstBank's Bryan comes year. that, next will mortgage And Bryan? significant in across a a with business, line to hand in Corp. million to which In to deal

Bryan McKeag

aspects you'll Thank financial Bruce. of find the on Slides XX. outlined I'll X, you, transaction, cover and the which key and XX assumptions X,

Both and and stock on million. current value compared stock is are tangible total XX.Xx of XXXX, FirstBank At XXX% as to transaction cash transaction. and implied will begin its let Slide as in to million, provides value, is shares Based XX, price fluctuate between value, the the now September price close $XX.X price, remaining the total of an moves basis. agreement. considerations Lubbock's key December book of deal XX. X, forth the trailing So Monday, X,XXX,XXX merger on Slide me the the page of multiples overview Heartland's XX X $XXX Then Heartland deal stock XX, set are pricing your assumptions the and on approximately stock Heartland's moving listed The reference. aggregate on closing deal months and on The for and earnings adjustments Slide approximately common of cash to on on potential which consideration after-tax -- consisting the an value subject as transaction.

to in the that of assumptions saves FirstBank's will in million approximately quarter. systems in realize expense third a after base. of saves model conversion more to after transaction, expect begin cost $XX cost phase to about XX% level our noninterest expenses, synergies expect is or the achieve. In cost our pretax significant we These of the review this of One in we FirstBank's

top of about we so slide, saves the will on XXXX. and end or have have the comprehensive a assets due completed portfolio. loan the of reviews performed by place Also, of year XX% these We on coverage that in nonperforming as XX% of our about with the of we file expect credit diligence process the that entire of total noted all the in

mark. $X.X review, Given loan results we or million the XX diligence -- due mark of the rate $XX.X for of million points loan or are a estimating that basis approximately credit and credit another about X.XX%

other TruPS the which day significant the life. we'll X be XX% a over addition, or be remaining will -- fair XX-year estimated million that include the markdown In amortized assuming, of $X.X value on marks

Our and that X.X% that on estimated want to Slide a limit modeling over lending revenue assume and We to not our do core would expect amortize to that product enhanced provide based will don't a we guidance. any believe I for earnings deposits, deposit larger our we that our intangibles I be XX-year for FirstBank's set of is do purposes, opportunities we everyone period. there X remind period. non-time the over -- with but minute, longer back there where move wider earnings enhancements

XXXX XXXX appropriately X% is in in a approximately analyst Signature X.X% Upon X% this earnings Durbin estimates the approximately a and this ratios ratio a of at expected capital conservative transaction, bank we accretion the for end with anticipated risk-based pro estimates, of and closing the to previously for strong of of quarter total estimated of transaction to accretion X.X% and in with our of the So transaction, growth the approximately our XX% projected tangible used FirstBank of XXXX. XXXX. combined generate and When forma of we XXXX ratio have and combination are equity in common expect and Signature X.X% -- impact transaction. second remain our this the earnings capital announced

relative no changes threshold Dodd-Frank, progress we the as I we scenario. of event Now stress by associated that, without costs I'd Congress the well the regarding event $XX the the testing, intend filings interest thus albeit added the any In in towards of post-analysis, we there tests billion our on comment and law, Heartland's stress-testing raised, Slide any our that prepared the to reiterate enacted regulatory best like in essence shareholders. are implement for to XX, believe threshold regardless far. with shown to the will changes ultimately required are the are as and the And -- would still efforts however, crossing is of reiterate to we

XXXX. task we that's stress-testing First, DFAST in have since place been force a mid-year

place Second, in a for of director testing has stress a we who have been almost year.

discussed million offset acquisition we the threshold, risk basis. it related positive year able processes. to readiness impact below well to $X reaching which been XXXX Federal are capabilities regional annual billion $XX early we the the end $XX and Third, When we to we've million result, will the revenue And have have towards a work are next we our invest significantly very be efforts on Durbin, impact of calls, that after, develop in in Durbin discussions organization. to our about July we estimate the should with previous the has had our of bank begins and to And finally, will as enterprise with XXXX. Obviously, Reserve's and a reduction management been a continuing in plan, becomes our effective. confident as of on be $X keep are assets and this $XX out. towards billion effective, pretax closing the FirstBank path Signature the year; to along billion mark soon Also

back wraps addition if official in and I'll stress turn over of our That CEO, the Lynn we In the call And our necessary, anticipate be remarks. DFAST my now test delivery Fuller. would up XXXX. first to

Lynn Fuller

we'll open the Rob? up our questions Thank analysts. you, Bryan. now And for lines phone from

Operator

[Operator Instructions].

Mr. Davidson. Our question first Rulis with from is Jeffrey D.A.

Jeffrey Rulis

I to FirstBank. you expense. saves noninterest is looking back cost you run I of wanted the and the number that about talked I base. kind about get rates to income Bryan, on guess, confirm $XX of, expense guess, million into get at Just noninterest the

Bryan McKeag

that Yes, I believe yes. right, that's

Jeffrey Rulis

then mean the And Well, little noninterest Okay. on is I piece imagine lumpy, a income. but... I the mortgage

Bryan McKeag

It is. Hang on just a second.

have might one? right second I've that several me think just pages this I Is for a Bear of... the I here. here. got with

Jeffrey Rulis

or Any the just about of you've a the in breakup balance there development. out $XXX guess, I'd got and another meantime one the construction is guess thoughts the percent Maybe I there? there commercial I of residential? million. throw that on on what land of mix

Bruce Lee

on Barry, mix do maybe there? comment want you to your

Barry Orr

Yes.

XX% about nonowner permanent, XX% then at I residential is construction sit commercial. mix to about and Our we think

The occupied. is other CRE owner

Jeffrey Rulis

Great, okay.

Bryan McKeag

to income. Yes. the back on get And just noninterest Jeff, you to

I about month think little million. in $XX than it's their a trailing more

Jeffrey Rulis

doing last just to then you're you're on anything And okay. medium-term the Great, Is like over CD with one one, anything XX% base the the on in looks that funding on, near- bases it plans going forward? a pulling little CDs. there

Bryan McKeag

in I that, No, plans change near to any the don't dramatically least there's term. at think

Bruce Lee

management is them after with treasury give the Yes, go commercial require treasury enhanced that to it Jeff, our more offerings. I management that think DDA the thing, relationships will opportunity offerings, an additional only

will XX% to So potentially at mix. CD that away we be able whittle

Operator

Mr. question from Damon DelMonte is next with Our KBW.

Damon DelMonte

guys... what appears pretty be deal to nice Congrats on a you for

Lynn Fuller

Thank you.

Damon DelMonte

first modeling a projecting goodwill total for you from amount? Bryan a My question, probably more are standpoint. guys towards What

Bryan McKeag

Yes, current $XXX I it's or estimate... to take. give million, That's our somewhere think around be going

Damon DelMonte

Okay, core does -- as include that include impact the well? that the intangible does but deposit

Bryan McKeag

Yes, correct... that, that of net would be

Damon DelMonte

for And then just perspective guess, great. Butch, Okay, bigger here. I

You the the could high accelerate XXX a attractiveness become the really the and guys you presence state. what comments to sale? markets in of that I that guys that made Should banks you think versus some for about are other available expand it Texas the Texas of -- be we And appears to in given will amount already looking you some said banks just be was in market. think to start like commercial of the

Lynn Fuller

is we that we've a as Barry in Sure, in in calls, banks spot to expand. we for mean, Damon. Texas release in most contacts West Texas. our of a in great I Well, operate opportunities has earnings lot in, past state the clearly us said but every have

of one us his team, acquisitions and things that's have X they've relations already -- and up. of lined that really that the think I to attracted they had So Barry other

in So opportunities for we're Texas. looking

Operator

is question Mr. from Steve next Our FBR. Moss with

Stephen Moss

up With deals pause regard guess, a the in I we on expect should expect acquisitions, acquisition additional wondering. following question in we I'm to, Should just there. or XXXX?

Lynn Fuller

think you I a expect can 'XX. continuation in

Bryan McKeag

mean, reiterate, to Obviously, before, as just $XX we've get mark. billion goal the obviously our I to said to is

And Durbin forward. most we so now earnings an right that base the sense still's cover so to makes going important that and ourselves get goal that

Stephen Moss

just that FirstBank's wondering. continue it real Or Okay. And Texas then see probably we'll what permanent with is of with remixing your portfolio, estate? regard thoughts construction Any more commercial to towards franchise?

Bruce Lee

Steve. Bruce, is This

I the they like side. today. think we're interacts their especially very comfortable how how it We PrimeWest, with company, operate construction current on the with mix, mortgage residential

any to So with sort you think date. as real question want conversations I you're going up may on follow see books, permanent that of in on least the to us our more don't well. to of at estate Barry,

Barry Orr

residential. XX% that starter The $XXX,XXX, spec-ed, average is home price hear to that presold. that removed And And Yes, usually laugh demand for before. really Lubbock. days. from X% running in Bruce. number. with market much growth. oil we residential oil construction We've X when these always We've Thanks. Yes, That's years we've seen that area. been the a in Lubbock prices that's XX% growth active so the We're you growth experienced today it's today which is been been And for We're about come very you'll has X% spurt in about the a patch X active driven home us. the a the $XXX,XXX. by last to never and are or $XXX,XXX

Stephen Moss

do That's loans also. outstanding? any the direct energy helpful. portfolio, have In wondering And I within was you

Barry Orr

It's long-time interest the Lubbock really West out that's relationship of area. a the one have out with of operator across We basin. Permian not Texas

Lynn Fuller

not much, is, answer Steve. the So

Barry Orr

of It's the about It's portfolio. total about $X million. out $X million

Operator

Jaffray. Mr. Our next Piper with Race is from question Nathan

Nathan Race

about away the the guys forma mortgage shifted a pro Obviously, out-of-market years A you there in pro platforms come guys from you the are business that question are just some synergies about thinking that operation. platform banking X kind on you given just thinking LPO And any curious that are platform I'd so space. imagine evolving how a of the of kind couple forma of guys ago, history forward? going thoughts together together, could obviously FirstBank come has long-standing so as how

Bruce Lee

is This Bruce. Nathan. Yes,

production well. Our to I initial back is, almost impressed focus we as They independently to really with them current our We're we profitability. would in add is beyond platform They'll very the long-term are They're thing probably their will their operate from mortgage footprint. offices, the to we'll on what very continue don't operation. today. have PrimeWest to We there see drawn do The And allow then only just think I origination servicing they're necessarily what see doing operate from current XX synergies portfolio. there synergies the not are. take clearly to expand think doing. months some loan XX

Lynn Fuller

add, the X that incredibly of. their I every operation. consistent at if on just you it's we've They you mean, I might is year. annually, volatility back just right don't look if Nathan, years, our look production have top in it seen

Nathan Race

on it. Got great Congrats have answered. transaction, All That's questions been my guys. other color. the

Lynn Fuller

Thanks, Nathan.

Bryan McKeag

Thanks, Nathan.

Operator

Our is Andrew Sandler Mr. next with from question O'Neill. Liesch

Andrew Liesch

Barry, work. deal exciting to question a here. mortgage. you just going back for Nice Much just

comments many is Is in there? so of number? $XXX -- the do just Lubbock. an originations growth positive here a think, for opportunity, this there from annual or to the consistent Or million improve you So the for

Barry Orr

that feel the get million us. efficiency million We a staff, you area perfect much is we is Andrew, maintain it requires annually, tell we additional that. $XXX over a resources. number like And that, that us. would for I additional $XXX If for good

kind try have you're gas you then hiring. flows to brake, hit and and of avoid ebb that. the hit and the pedal we the Sometimes, And

$XXX strained to So $XXX years that sweet million is We've of our our task. were had they really million people, the but up spot.

be to in additional and we million get us until do $XXX acquisitions will $XXX other in And that so that tell would you I we million markets.

Bryan McKeag

mortgage modeling we additional flat, side put say I of modeled we fairly And this. as a modeled we did from lot a that, so it perspective, would on in, any, the Andrew, growth not if

So it's consistent.

Andrew Liesch

here just comments, with your on And on then helpful. that's DFAST. Okay, Bryan, respect one expenses just to question very

run what to other Just the currently you expenses? out What's bring not are years? do couple DFAST? dollar the curious, amount is for in expect next the the -- rates expenses And what what over

Bryan McKeag

Yes.

the certainly as big we $XX billion. or $XX one think million is cross I -- Durbin

Andrew Liesch

Right.

Bryan McKeag

So they're we've as in, announced and talked modeled about.

a our We -- I lot forward million in probably have here Beyond are especially $X rate. couple currently growing of a million the is maybe things say There's years. run but risk another that, and lot, management which probably probably of run we not go as half another, invested the in would being in. to $X.X rate area for the next

Lynn Fuller

again. Pretax,

Bryan McKeag

Pretax, yes.

Lynn Fuller

Pretax.

Andrew Liesch

right. Got you, all Congrats deal. on the

Lynn Fuller

Thanks, Andrew.

Operator

question Cardenas James. Our Daniel with from Raymond next is

Daniel Cardenas

Congratulations on the deal.

Lynn Fuller

you. Thank

Daniel Cardenas

forward going outskirts Quick Is question the focus Houston and on the in of those going rural metropolitan Or areas? to perhaps and from as San going your you on Dallas, or such acquisition more away go them Antonio? Texas. strategy on the markets stay areas to into more larger are be

Lynn Fuller

Texas. Well, I to in he's discussions that West mean, Barry built a our time date, with over his lot his relations are -- of

to might I that. Barry, ask on comment you So

Barry Orr

your know it's people. customer the know economy. don't world. metroplex and we I-XX, areas cross got are the we've area. I'm the XXX-mile your radius Texas, Angelo, regional my a areas. we preference. Midland-Odessa are how within Abilene, We all Amarillo, Lubbock. that have are you We we're feelings that but of of My the sure In know philosophy the probably with for doing in familiar San part us, It's Austin what some those towards that's And just not the know

here focus so be And in Texas. will West our

Daniel Cardenas

XXX-mile that many right. you you just that within spoke viable All about? radius think do are candidates how And

Barry Orr

a Goodness. candidates. there's banks I minimum, there's over all spotted will just at Well, say area. community that XX, viable

Daniel Cardenas

good work portfolio pretty to It's potentially from.

kind little And the growth the then as to in thoughts of Lubbock as the Barry, recent what's of on Okay. your line, while a got driven maybe color market. I you to bit

Barry Orr

I main the tell health one is you Yes. will care.

We and between regional are Albuquerque center Dallas. health care the of

Tech law so has up to course, I of then draw a graduate program. the Permian And to only we the north and here. X-hospital not area Well, Texas basin. an They then Eastern the medical have undergraduate from all have have program. Kansas south down New school, Mexico, market University And They school. way

drivers. And big the distribution X the had Parts, in Walmart, We've are has companies major for the those here. huge Auto years last we're hub here become O'Reilly because Budweiser. distribution, So locate then

Saverne milk to company Littlefield, Texas. the going area just outside community, our processing in announced, peanut had right a $XXX plant new spend million Just just called

So lifestyle, low family of just very people, attractive it. value, living the cost attracting is most for a market of great

Daniel Cardenas

All then on PrimeWest. of as right, the size is good. last question the And my What's portfolio X/XX? of servicing

Barry Orr

million. $XXX

Bruce Lee

Yes.

Daniel Cardenas

right, Well, All my the other on congrats answered. and been All have asked great. transactions. questions

Lynn Fuller

thanks, Great, Dan.

Bryan McKeag

Thanks. Great.

Operator

There this turn Mr. to closing time. over like floor are the to back at no for comments. questions further I'd Fuller

Lynn Fuller

growth making flagship With of Rob. opportunities leadership of is turn and and XX, take the the of Thanks, bank is history, clearly Orr please this and compelling. Well, the as it's support. adding and excellent and in subsidiary merger West significant a We preserves opportunities Texas. merger of closing, economy like provide Trust. a investment our successful move to FirstBank attractive into culture The summary robust banking acquisitions going Slide Barry example and where Heartland see capacity, believe nearby but we creates. while Mexico Texas New we to community part much strategy & organic name, Bank how our captain, expertise further well-established growth, as products, for a Heartland's backroom another in

Well, significant market with integrations. join a this this Texas. our have successful be is blue great this in and significantly on FirstBank Heartland's a on Western morning placed share and of joining to and record thank everybody team in stockholders. thank allowing finally, for serving And our and Orr, to metrics opportunity with potential. day. community they in his them like with Heartland chip like board building to another bank wish us thoughts XXth this enhance for allowing you transaction solid confidence Heartland's their to share, attractive a completed, us for above-average the we well-established to us a I'd market will transaction. by specifically leadership since growth has I'd believe Barry mergers And adding will that, XXXX, that track acquisition exceptional value financial When long-term

Operator

This concludes teleconference. today's

disconnect And You lines for your your this participation. you at time. thank may

Heartland Financial USA (HTLF) 15 Dec 172017 Q1 Earnings call transcript