Heartland posts 10% gain in 9-month profit, delays capital return to hunt for acquisitions

Tue, 17 May 2016

By Jonathan Underhill May 18 (BusinessDesk) - Heartland Bank posted a 10 percent gain in nine-month profit while delaying a planned return to shareholders, saying market volatility had creating opportunities for acquisitions which may be a better use of its capital. Heartland affirmed its guidance for profit of $51 million to $55 million for the year ending June 30, up from $36 million in 2015. In December, Heartland told shareholders the bank was keen on expanding its consumer finance business with a particular focus on distribution c...

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