Heartland Financial in Iowa to Raise $75M

Heartland Financial in Dubuque, Iowa, expects to raise $75 million by issuing debt.

The $5.9 billion-asset company said in a press release Friday that it has offered the subordinated notes in a private placement to unnamed institutional investors.

The company said in the release that it may use the proceeds for dividend payments, debt service or future acquisitions.

Heartland has 76 branches in nine states.

For reprint and licensing requests for this article, click here.
Community banking Iowa
MORE FROM AMERICAN BANKER