Heartland in Iowa Files to Raise $75 Million

Heartland Financial (HTLF) in Dubuque, Iowa, plans to raise up to $75 million.

The $5 billion-asset company plans to raise the money by selling common stock or warrants, it said in a prospectus filed Wednesday. The company said it may sell the shares through underwriters or directly.

Heartland said it plans to use the proceeds for general corporate purposes, including possible stock or debt redemptions or acquisitions.

Also on Wednesday, Heartland announced that Bryan McKeag, corporate controller at Associated Banc-Corp (ASBC), will join the company as chief financial officer.

Heartland agreed in June to buy Morrill Bancshares in Kansas for $62 million. Heartland has nine banking subsidiaries in eight states.