HTLF,HTLFP - Earnings call transcript Q2 2021 | Heartland Financial USA, Inc.

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Operator

Greetings, and welcome to the HTLF Second Quarter 2021 Conference Call. This afternoon, HCLF distributed its second quarter press release. And hopefully, you've had a chance to review the results. If there is anyone on this call who did not receive a copy, you may access it at help's website at htlf.com. With us today from management are Lynn Fuller, Executive Operating Chairman; Bruce Lee, President and CEO; and Bryan McKeag, Executive Vice President and Chief Financial Officer. brief the the call a we and provide open will to will summary quarter, of then Management your questions.

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

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

I factors ahead, included website now Company's Company's may sir. over call these go on information Lynn turn in filings, obtained time be time or the the Additional at the and which will XX-Q HTLF. Mr. is Please time, to from SEC's the to Fuller website. on XX-K this At

Lynn Fuller

we We for conference and joining us Thank XXXX quarter you, Welcome as earnings the second Peter, to of appreciate XXXX. everyone second HTLF quarter discuss good Company's call. afternoon. today the performance

color EVP us Then HTLS and our few and answer regarding turn credit. provide minutes, who to then questions highlights the will the for I'll additional Lee, CFO, is President business on CEO, will touch will I'll who Also Officer, cover McKeag, joining Nathan Credit results. around today performance. next Chief EVP Jones, be to available Bruce call quarter. and over the the HTLF's Bryan For

increase. the first And at the second set six the a income quarter pleased million. $XXX.X quarter, an net after new second XX% year. of months was to to quarter. on million for quarter extremely net second million increase had to million, XXXX, good the for income $XX.X our for $XX.X over very net income first a a Now highlights we I'm We million very XXX% $X preferred last or in million shareholders increase a an was compared record following the Year-to-date that $XX.X of to second $XX of quarter of of common financial report XXXX. of dividend strong available

per second increase We record of the earnings last also set share quarter year, diluted for $X.XX new $X.XX. for $X.XX quarter of per to compared or $X.XX XX%. an common for the is of share Year-to-date, a earnings

While interest annualized return fully XX.XX% common X.XX% was average quarter tax respectively, X.XX% year-to-date, for and year-to-date, average a quarter equivalent the for and quarter and on that's on $XX. margin XX, average XX.X%, on and the common year-to-date. tangible was equity XX.XX% Annualized X.XX% The basis net the was return assets X.XX%. and respectively. equity for

the in and and at our and strong optimism acquisition ending to goal Our footprint for we process. of our a have common our Well, Bryan to both and number across price from opportunities was at position great front, history Tangible share fundamentals indications. the XX.X% liquidity increase, share their common quarter on performance, growth XX.XX%, with given between continue ended more quarterly of a analysts' Book share the value of that's per deep X%. with year X% credit our $XX.XX active and continued relative a their line detail equity ratio pipeline and Well, we to peers, of and very efficiency M&A and respectively, record X% on opportunities tangible Bruce in value in book ago. year-to-date, will $XX.XX X.XX% a comments. quarter increase currently

of overview the experience, background extremely Board including joined and team an that XXXX. a President Marty Shelly And announce investment call Company's October with the Lee, extensive on XX financial The industry, of XX XXXX, September last, of Shelly a shareholders to Corporate on new banking elected over as Chris myself. and EVP June Reed Unger pleased XX, years I'm performance our and and to Susan Development two Kathryn credit. Additionally, Annual in X XXXX. with Strategy of independent M&A in years acquisitions. services dividend has a operating shareholders Meeting of Board provide of X Well, Class aspects dividend. Hiland, to August Bruce? and related payable Murphy, Bruce May, CEO, record $X.XX directors buy-side now and and common also That's who XXXX, elected XX, were meeting, preferred nearly HTLF's record XX, to per mergers and turn August payable XX% HTLF's as Directors Class of at approved over Stockholder Schmitz $XXX a XX, of Graves this will also increase, approved our Board I'll an on we directors: sell-side all at share in month's the

Bruce Lee

In conditions. record In Thank everywhere. quarter. billion, you, afternoon, Total They $XX.X economy am per results. $X.XX an we At saw $X.XX $XXX markets see we second quarter million continued from pleased in of share, growth delivered deposits and a second loans, earnings reflect and or increase across XX% to HTLF's Good linked increase record with fees, improving $X.XX the income. we a year consumer linked an this assets per Lynn. the net the and quarter, in and earnings record the everyone. growth I HTLF, of share you and share growth resulting grew commercial quarter, from steadily quarter ago. our loans, from of a to record

from million, an Pre-provision $X.X up $XX.X ago. the XX% year Assets XX% a from our net a increase year income quarter XX% a million, was common or from revenue increase quarter X% increase record a to record And and $XX available net a a billion are a linked year strong and increase from of shareholders XX% ago. from linked quarterly the delivered ago. another results

growth estate $XXX.X loan in the of each significantly real million organic or We X.X%. portfolio our ag million quarter increase guidance start portfolios, commercial our exceeded from and million over annualized. X.X%, our million saw Non-owner-occupied We or and our portfolios. The growth. the representing an $XXX strength commercial $XX million Loans million or the Let's quarter, of and X% of growth. $XX.X quarter, excluding loan the PPP, increased was new and linked grew XX% XXX X%. relationships commercial million. From $XXX for increased across in of added with $XXX linked real increased a in increased industrial or flat. X% $XX.X Construction $XX.X nearly estate owner-occupied million loan quarter

Texas, expertise and in HTLF's of bankers Arizona, Our California. Citywide top-performing in Bank & I to leveraging team. DB&T in Valley the congratulate Bank banks, growing specialized industries FirstBank want our in Arizona Trust Iowa, Colorado Premier in our are

strong. yet commercial in been in we growth third outlook. remains pipeline We're forecasting and a commercial cautious meeting the clients million $XXX and share optimistic Our with bankers, loan I've quarter.

X retained PPP forgiveness. eligible provide been are PPP Some in borrowers of Bryan process forgiven. which growth Delta legacy inflation. consumer new XX% with We're we XX% consumer-based residential non-core PPP other strong, encompass during and by the loans increasing our have loan working on and offset of to in the X The headwinds forgiveness in customers linked XX% and for residential are portfolios, when came PPP the closely lingering Growth strong by or quarter. impact originated from Many loans $XX the XXXX. remain, we which variants, loans chain supply for more and pressure in $XX commercial business and consumer over being and in new wage million of mortgage our will the our his core net PPP was for financial customers, using Currently, non-core comments. of based details portfolios these mortgage COVID now file mortgage national Overall, both who was partially our our and forgiven online totaled for loans of the challenges, million. core programs. growth capabilities. residential X process portfolio, shortages, namely workforce loans X participated that runoff our exited continued in core

in We and quarter. million expect growth in third $XX consumer-based the performance loans strong core continued of forecast

saw ago. was or deposit linked and of year the increase XX% a We've low in account non-time commercial deposit Total maintained decrease totaled XX% Total consecutive points the ago. $X.X our an remained a are points, at from of growth from Turning The total to or deposits mix. from exceptional billion customers. the for primarily million growth balances. accounts $XX.X costs basis deposits. Non-time of and deposits $XXX.X from XX% during an this deposit year a ninth non-interest-bearing quarter deposits billion, a basis XX $XX.X billion, quarter. million XX in $XX.X X% record quarter We of increase were quarter.

efficiency XX.X%. increased Our slightly ratio to

quarter. achieving FTEs are to investing growth scale. our technology by reduced during on the XX second while and We and efficiency support We ratio to gaining due efficiencies laser-focused improvements

XXXX, and the invested have to of presidents deeply banking. new new top-tier markets. heads of installed our are and and We bank in in strategy we have recruiting talent commercial our four execute retaining Since four continued each of multiyear talent beginning

Our also includes more investment commercial industry and group XX across our specialized XX our banks. growing bankers than in adding experienced talent

across organization. considerable We acquisition and our have momentum talent in energy

basis basis to linked a also assets points XX basis in to assets we Non-performing to of strong on quarter. loans the and metrics. XX decreased our quality improving results. credit to Turning already credit Non-performing to loans to the points report XX compared I from percentage quarter. XX am total total points decreased linked as points of that in basis pleased continue stable see

Our X.X% Non-pass-rated net the loans. delinquency were ratio million a remains basis lastly, for the for points low basis XX quarter. of quarter points. decreased loans XX.X%, XX charge-offs or at of And decrease to average loan $X

are and by enabled metrics solid growth model. our Our credit unique

helps strategies markets understand deeply relationships This our and with bankers customers. Our insight have investments. and our local strong guide

the online management. customers functionality track on and management We're for administrative who video our and be We're convenience more treasury our appointment banking in enhancements are our We'll customers to offer to document payments Zelle. We'll commercial to burden expanding chat. customer more will bankers. capabilities like our customers deliver and experience. use beyond consumer help that service enrich our PXP features adding wealth live extending digital customers capabilities We using scheduling reduce

our for with loan to branch development. We in excited currently digital in portal online partnering optimize experiences custom to account our customer continue adoption we're that's on channels, customer network. changes and including digital in Temenos offering digital Based origination the increased opening, behavior, onboarding. of And about are we'll robust future

expect We network in reduction branch the of XX%. further a

Our payments achieve received away improved efficiencies. investments and have integrated well flow been greater as customers cash from move in payments technology and check

for lives, development report buildings, enrich last In increase the year, customer, on proud communities and few Chief recognized also in fleet HTLF our energy. community decisively. down at we to Council. our Diversity, overall the are in programs, team we've purchasing an senior top company's me, to employees proud hybrid are the Wendy citizen. how past we've XX We've embraced Inclusion experiencing performance Equity that employee and Visa and Advisory socially commercial MasterCard for a and and schedules. welcomed was out made will again. is choosing and change We one XX issuers. responded many card There's anticipated, position in and our to first historic solar of in In increase leadership card all quickly, HTLF's include of from invested proud year our be while back be Diversity purchasing executive industry the we've customers alignment, financing July, are our and by we XX% with fourth the highest Nielsen card, HTLF's the values corporate mission a energy and I office, new employee We card sixth invest to responsible Reynolds, housing DEI a named efforts months. consecutive top we've we A am saw support creatively purchase rehabilitation reinforces for This low-income the of agile, lead early been time. and of and we've person communities investments corporate our the to my serve HTLF Officer.

Chief to employees for turn to positioned to for well I customers, Financial to shareholders. continued strength. dedication details Officer, thank the want will HTLF's deliver to communities increasing growth their our continue performance call strength, more financials. our from and to Bryan on insight and over We I benefit economic our and be McKeag, now

Bryan McKeag

the investor IR growth, that in with presentation, referencing before detailed release, is in of begin reported good improved at find which today quarterly and information which remind loan like $X.XX, our quarter I'll continued Bruce, go But results, growth. outlines share into $XXX metrics I earnings available section comments, my and strong Thanks, I'll to by on you you second can deposit our earnings website. per million credit the the of non-PPP additional quarter afternoon. our

credit totaled an outlook, with a comments this provision So benefit the $X.X losses, for I'll start million improved favorable by primarily trends. the today included economic my following driven quarter, which and

already million we've loan ex balances grew as PPP. total First, noted, $XXX

that I the X%. Second, this early since quarter exceeded $X.X loans same million time, loan believe non-performing at is upgrades XXXX downgrades the or and declined first

for Third, quarters. two the consensus have past economic forecasts improved

As upgraded allowance incorporate caution management for lingering of that used a were develop headwinds a the to appropriate established to previously effect that the portion manageable XX measure and of net economic minimal this still million result, the basis yet the economic charge-offs loans. economic identified reserves factors provision. deems charge-offs points factors But a and the on outlook that last, of had retain had These loans forecasted quarter's improvement. and uncertainty to And at on or resolved. had were total be $X quarter under been therefore just were are

for When loan quarter the the the PPP allowance for includes $XXX.X total at excluded, So X.XX%. are million or credit and loans balances stood on credit at total at stands allowance both end, which total the loans. allowance losses, commitments unfunded of X.XX% losses lending-related

the addition, total of balance unamortized at quarter excluding on points purchase loans, In end, PPP. XX or totaled million valuations $XX.X loan basis sheet

TCE equity six million balance rest decreased a net flow. just X.X% growth Tier the due regulatory retained at XX.X% about sheet points XX XX% and duration and of sheet. points HTLF's investments of The monthly assets. the equivalent million the capital grew equity tax XX yield ratio generate gained remained market million cash and total Borrowings this The strong basis of balance this end increased $XX The assets also points common XX increase rose to $XXX X XX%. to or $XXX earnings, at million the basis in to at quarter of value basis and ratio comprised $XX common X.X% to end. Moving over risk-based at just and Investments over quarter with quarter ratios X.X% of of of years quarter. under from with just under tangible

very to sheet balance the positioned. strong be So, well continues and

this income a Moving to to margin this the quarter totaled prior X.XX%, tax equivalent million $X.X income interest which X $XXX.X basis was quarter. than million higher statement. The Net that's the on quarter interest last quarter. was compared net basis down points

points point basis the was and margin point yields recognized points. The investment in was this of million accretion, quarter, X prior million last which down up $XX from last banking gains, million loan increase quarter, last the exited margin offset amortization over XX X quarter a quarter. X interest quarter, basis by increased During by quarter. in of by and basis accounting our full remaining PPP declined net of X loan basis mortgage X interest $XX.X million, positively margin income were includes for declined fees yields interest a unamortized These points with PPP books. quarter. PPP primarily that's drop due over Also We security a points to on the X the purchase impacted $XXX,XXX the costs. basis quarter Non-interest loan by fees the just net offset from $X.X quarter. compared to down $X.X revenue totaled Total was increased which largely $X million basis

charges quarter, million up totaled service were $XXX,XXX, million and trust higher representing from non-interest Non-interest compared million to last were $XXX.X increase, to $X.X last expense. Shifting up and addition, XX% In respectively, $X an quarter. this quarter. X% fees expenses

gains to increased million costs our $XX.X tax $XXX.X where other fees to expenses core increase and higher. last automation professional The $X.X attributable costs restructuring primarily was and project compared were to integration, losses, acquisition, million quarter. and million and digital asset credit Excluding technology

expenses positive declined the and our saves On and by remaining as were facility-related side, both integration cost the FTEs realized. lower employee from AIM were XX%

back loan rate the start and in strengthen. two highlighted leading will to half second forgiveness deliver show strong we and quarters. assets will be to X% We some to as by the continue PPP -- low as and anticipate X.X% as interest continue growth in million one expected income, forward remain from quarter. year to of growth about continues look professional are of by levels rate range this believe ahead that We three are or views reasonable two PPP an the expected and HTLF even a to above ex X credit levels slight some pipelines, And as So to quarter mix moderate to improves. modest negative by could and XXXX. we believe increase $XXX The two to lastly, over the get non-PPP three we going back changes. year-end forgiveness quarter are be to $XX.X fees economy tax expected return at in increase expect million in is however, as next earning X.X% or going to invest initiatives. assets is run pipelines full could growth and or reductions in gains investments. per to develop million tax as loan projected growth to next complete again excluding from strong is the ratio bridge we remain to rate, projects XXXX fees, modestly the growth $XXX slow earning Provisions PPP assuming round X.X% next quarter. losses is quarters. forward. likely in investment per law to remain pressured; will basis loan we and quarters and for low we XXXX, excluding stabilizes a will a loan the results, X% margin more Remaining anticipate next XX% back occur to economy current flat over that mainly quarter in with XX We PPP PPP is TCE normal as Non-time expenses the some range per will continues the and growth get going result, continue PPP Core expected And or the income, and grew and XXXX. net to points total then no largely deposit one or the to two two of losses and per Non-interest forward the our quarter climb year interest as expected happen quarters, grow in over projected retained half to runoff next half XXXX in the earnings the to expected be net replaced about

to interest to rates would ratio. the on call open a now However, up turn negatively to with We'll call the the return that, over for I'll questions. back higher questions. Bruce And weigh

Operator

you. Thank

session. comes We conducting question will now of And line D.A. Davidson. from be Jeff [Operator a first the with question-and-answer your Instructions] Rulis

is line open. Your

Jeff Rulis

kind with geographies more within On Is kind And part productive quarter? Thanks. then your the of just I just wanted what two, -- expectations. demand, than color so loan of any that subsided, of timing? growth that to were the in it new And could kind kind payoff you segment? part see particularly doubled one. that's happened then of front, of if and/or bit a

Bruce Lee

across markets, almost pipeline share we as going but what new lot very our I those really new was, quarter. very focus of and our we that new of been XXX of during culmination that, board what we're fortunate Yes, able pipeline with That's overachieved which just on in we kind and a were a going in about think second And strong the forecast the our relationships. the business get But and market it referenced, a forward. our those and quarter. did relationships, we loans to of minds, equal have closed had we into Jeff, won I almost was all to the

and care, were California, growth the the in that saw distribution in where led growth West. Texas we especially in the in Colorado, the areas the really, areas. saw and Midwest, both was manufacturing, Iowa and Some growth, group. we Midwest Arizona, And solid health We that Dubuque had key really kind it in core of

had across the very was our board. through markets. consistent the kind we portfolios, So as of all of went it across growth solid various I really And

Jeff Rulis

back there? in kind Got services onetime perhaps on professional Bryan, maybe talked flat Thank you of expense XXX, difference about talked Did some the you out? we it. that have you. line, about back expense elevated, should And What's XXX. I'll you staying the to the circle expenses the

Bryan McKeag

Yes. think are and projects I there. consultants obviously, in Well,

that of given going moving do some income of projects, than the to as from upping some in that come Part I had was But did So benefit we our think guidance had higher moves about that we quarter. of the things last given I X. that our think around. we that forward when of line was fee timing is projects, PPP

to will of a the what year. applications. be going and it bit that But higher working paybacks technology half good next work tools on So, thought than continue and and last fund it's will still for for be the we to think we digital and projects we're I little on year

continue maybe a what this down invest. spent going year, to little we're So turned we to but than bit

Bruce Lee

would say, customer XXXX, improving and of would We on investments decision around why that seeing just experience XXXX the that they're made is several customers Yes, the that's accelerate Jeff, some to but perspective. I and investments in interface a us. say we're digital from with had I and a planned all mentioned expenses, into I ongoing how us those Bruce. we this conscious for are elevated

Jeff Rulis

Okay.

I sorry, just have And M&A last on one front. the one

you've really there. think conversations a -- California some have was guys and M&A pretty signaled on few active we've Obviously, there the discussions, seen You quite been was I deals.

see seem territories check kind Just you're have in eyeballing in wanted that or some momentum? and particular back any of to to

Lynn Fuller

is this Jeff, We Yes. activity. We're seeing Lynn. of a lot

difficult a a for our is area we've passing financial a our because lost where it's a larger trading simply little stay good of activity committed small or fit. the to because couple transaction, of it's performance And stock and those metrics. in at just week California, California. not it's on and we're a West Texas, to and deals Some week, I in and But make Montana. work area, Kansas City the deals be calls still in And too last making Phoenix Denver was we'll Arizona the I mean Texas, Colorado, Kansas specifically we're in in this number still of looking area.

So, sorting and shortage a It's right of through finding of there's no of just kind opportunities. matter them. the ones

Operator

comes Terry And McEvoy your next from with Stephens.

Your line is open.

Terry McEvoy

Bryan, thanks for last always you helpful. What's in all into I'll hearing I'm it of expecting? was We That's about it And And months just what the feedback? financial the Maybe are early HTLF been has three April? were you outlook. talked rollout quarter. very that. the effective? been start it curious,

Bruce Lee

markets is our we think understand. strength it. our uses of contemporary. one HTLF customers I It's We guess, that expectations, easier would differently. is It's is Terry, of a the to HTLF every financial how met some Bruce. more And of this say little for our

customers Mountain taglines of attracted a resources new and see our we're loan a starting from are by behind market HTLF as a than the have little way we I think one we've each of gone Bank that billion that of member banks. $XX powered and some assets And historically our And in commercial explain standpoint. to Rocky better positive to up try

Terry McEvoy

a XX, Slide question on ask which the maybe strategy. HTLF And is digital

are terms the slide? there boxes where expense maybe a then into what's analogy, what still an of take of side checking all it you key slide. time of inning Bruce, that to and there's those use off, standpoint, that in baseball to the from so you in Somebody are speak? from then lot the expense meaningful kind of a And amount work-in-progress away icons put

Bruce Lee

Yes, fronts. are customers inning we on one on I'm But of their behavior. get in of business disruptors And to that disrupted the for industry customer I those expectations out all many going the customer here and take it is are. think kind many, big Clearly, want the the is and And customer of do focused become being the make takeaway front what changes to or with. our easier trying let to we to our that Brian we're we're of what in.

mentioned, I have loans XX% I the I was we was year of that that were growth, it all when the online. A think opportunity about done As for didn't consumer loan ago, talking originated us. we

beginning pay attract us off to what's a investments than type those as for have. commercial as And that's prune we well us. to enabling branches our ever are different of So, customer

Bryan, an inning from So, perspective.

Bryan McKeag

would we're say I Yes, middle the probably innings in here.

about. account lots got on, a got flight off. part excited ones see I under we've that of working our that in few we're that that you to acquisition. things are can think help I that are on top the kicked we've generally of And the are we're just page Those think going the ones really our growth

-- talked correctly and is didn't will when go some last factored probably which bit, year go, well. little to I why into expenses are our up probably next quarter, why and I we have think more this in of these So a as

of just I a time. capabilities. bigger to short and to We're them, them think enhance about projects and bit quick-hit not they're These So that little take committed have really going excited our we're projects. are

Bruce Lee

at And I Terry, we it much about two we flight, Brian of more And one We these. those up think The pretty half. went customer-facing. half, expenses The those said right. to reasons top were the wanted to in what are the is upon half had infrastructure bottom based consulting already necessary again, accelerate capacity. much towards is internally, top really,

outside So had in bring we resources to to help accelerate them.

Operator

Piper next Sandler. Liesch Andrew question come from Your with will

Bruce Lee

there? you are Andrew,

Operator

open. is Andrew, your line

Andrew Liesch

for Sorry, that. one on apologize My I there. mute

of questions. you've Sorry, my most covered

on get sort rate the just the expect five trailing what And given depressed, Page on could you timing quarters eventually return to? one, on obviously, environment. to? back utilization can that But been where Slide Just or XX, of it any

Bruce Lee

Yes.

was think, line your that it utilization, question? I is

Andrew Liesch

in the second on kind the Yes, the XX%, mean the XX% quarter. early back quarters of in goes but I only to trailing pandemic. that's five

your on been timing back pandemic what guess have would why I So hit? and could before it the expectation any there? get it And

Bruce Lee

we would been upper to I mid- Yes, in the think XXs. have

couple at, back wrong of If honestly, been I would of grow. has say, additional guess, And been, but would now. of right that's not go you in case one in we to the that utilization, we've see necessarily XXXX. to this things quarters, just not because some that look the end on and the would last start balances particular continue Andrew, the We commercial thought

of don't up. to bottom. We don't good going can we going think continue it's give you it I sort will when on So, trend We start that to hit know do guidance we've downward. that think

Andrew Liesch

Got it.

Okay.

have presumably, lot -- then market like forward a gains? of So commercial you this be share continued is going to going growth any it sounds

Bruce Lee

Yes. Yes.

Bryan McKeag

true. is That

Operator

[Operator Damon DelMonte Instructions] question will KBW. from your next And with come

Damon DelMonte

answered, my have kind for of here reserve going the but questions curious the level outlook forward. just of Most on been

think, Brian, quarters. upcoming negative be had you it could mentioned I the very potentially for that or low

you you're I How now, right now. you comfort guys? XXX think X.XX% What's far right for at level that a go? would down let

Bryan McKeag

XXX you I we really under if basis look economic our it day points, know of would what and when we is X, were circumstances. at you Well, guess I answer about deck. that But back, don't you that might CECL recall, was, page as kind good in I look and if implemented

in Bruce really when started We on at Page Yes, be under next in. first impact to the economy Japan, XX%. here. worries, impact of XXX-to COVID. at it hadn't and X only I look if if We still big quarter, -- I of haven't and XXX-ish really have quarter, we're And XXX range hit we really points. was -- to Nathan, or and starting we somewhere thinking the was any COVID it's to that think in, look kind have you should the Then you can coming you had COVID in give in decent China, some up and the jump Nathan that bumped to was pretty conditions. economic the ex-PPP. basis range we

Damon DelMonte

something that made you decision kind Okay. question XX% And fast around you're you by longer-term in could just time. see That's good have helpful. of saying, That's of that one Bruce, have already? may over XX%? reduction that you branches is the like then Is of guys Great. here, yourselves branches general, just a in hard given color. -- reducing another was customers, Or think, trends usage and about other mentioned I

Bruce Lee

I'll have and the process have here should able when. XX%. do the answer end on of be expect third be We exactly and that's of the we provide in it we to third by definitely ways. that ongoing, quarter feel sort to guidance completed many, at reducing many how and how you We it will a specifically on two we quarter

Operator

Thank you, speakers.

like call the further As to questions are the for to over comments. turn this Mr. there closing back would time, I Lee no at

Bruce Lee

to closing, $XX.X In delivered raised available to twice a record $XX.X was assets shareholders, shareholders We which Thank you, income in a ended growth revenue $X.XX loans, the quarter see a record a we've year. HTLF $XX.X had of Peter. consumer deposits per everywhere record million. and net deposits earnings record were common Total We with share. We commercial million. quarter. total net delivered fees this dividend second billion, record Pre-provision and and our loans, we billion. of $XX

positioned retaining today. like well everyone and attracting driving top We're rest and joining of thank growth. momentum. beyond. have talent the for for We us I'd XXXX We're and to

in call Our be evening. late will good October. next earnings Have a quarterly

Operator

This for conference concludes participating. call. you today's Thank

now may You disconnect.

Heartland Financial USA (HTLF) 27 Jul 212021 Q2 Earnings call transcript