Heartland BancCorp Q1 Revenue Hits $71.8M, Adjusted EPS $0.68 Beats Forecast
Heartland BancCorp’s Q1 2026 revenue climbed to $71.84 million, exceeding estimates by $5.09 million, driven by a 4.20% net interest margin. Adjusted net income rose to $22.6 million (adjusted EPS $0.68) despite reported EPS of $0.34 and integration costs from the CNB Bank merger.
1. Q1 Financial Results
Heartland BancCorp reported Q1 2026 net income of $11.20 million, or $0.34 per share, below the consensus estimate of $0.62 per share. This reported figure reflects all one-time items and integration expenses.
2. Adjusted Performance and Revenue Beat
Adjusted net income excluding one-time costs reached $22.6 million, translating to $0.68 per share, surpassing analyst forecasts. Total revenue climbed to $71.84 million, outstripping the $66.75 million estimate, supported by a net interest margin of 4.20%.
3. Asset Quality and Merger Impact
Nonperforming assets remained at just 0.21% of total assets, underscoring strong credit quality. The recently completed merger with CNB Bank Shares, Inc. added scale and contributed integration expenses recognized in this quarter’s results.