Press Release

Heartland BancCorp Announces Completion of $30 Million Private Placement of Common Shares

Company Release - 11/20/2018 6:06 PM ET

WHITEHALL, Ohio, Nov. 20, 2018 (GLOBE NEWSWIRE) -- Heartland BancCorp (“the Company,”) (OTCQB: HLAN), today announced that it has completed a private placement of $30.0 million of the Company’s common shares to certain institutional and select accredited investors at a price of $80.00 per share.  The Company expects to use the proceeds from the capital raise for general corporate purposes, including but not limited to supporting organic growth, facilitating potential expansion opportunities, expanding products and services and debt repayment.

“The success of this capital raise is a reflection of the strong financial performance of our company, the dedication of our Board, management and associates and the execution of our business plan as the leading community bank in the greater Columbus area,” stated G. Scott McComb, Chairman, President and CEO.  “This additional capital will significantly enhance our strategic capabilities to grow our franchise and support the needs of our customers.”

D.A. Davidson & Co. served as the placement agent on this transaction and as financial advisor for the capital raise.  Hunton Kurth Andrews LLP served as legal counsel to the company and Squire Patton Boggs (US) LLP served as legal counsel to the placement agent.

The securities issued in the private placement are not registered under the Securities Act of 1933, as amended (“1933 Act”) and were offered and sold under an exemption from registration requirements provided by Regulation D promulgated under the 1933 Act. 

About Heartland BancCorp

Heartland BancCorp is a registered Ohio bank holding company and the parent of Heartland Bank, which operates 15 full-service banking offices.  Heartland Bank, founded in 1911, provides full-service commercial, small business, and consumer banking services; professional financial planning services; and other financial products and services.  Heartland Bank is a member of the Federal Reserve, a member of the FDIC, and an Equal Housing Lender.  Heartland BancCorp is currently quoted on the OTC Markets (OTCQB) under the symbol HLAN. Learn more about Heartland Bank at Heartland.Bank.

In May 2018, Heartland was ranked #37 on the American Banker magazine's list of Top 200 Publicly Traded Community Banks and Thrifts based on three-year average return on equity ("ROE") as of 12/31/17.

Safe Harbor Statement

This release contains forward-looking statements that reflect management's current views of future events and operations. These forward-looking statements are based on information currently available to the Company as of the date of this release.  It is important to note that these forward-looking statements are not guarantees of future performance and involve risks and uncertainties, including, but not limited to, the ability of the Company to implement its strategy.

Contacts: G. Scott McComb, Chairman, President & CEO
Heartland BancCorp  614-337-4600
   

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Source: Heartland BancCorp