Heartland Financial USA Inc. has reported second quarter net income of $15.2 million, or 72 cents per share, up from $10.6 million, or 56 cents per share, in the second quarter of 2014.
The Dubuque, Iowa-based company in January acquired Community Banc-Corp of Sheboygan Inc. and merged it into its Wisconsin Bank & Trust subsidiary, which now has locations across the Milwaukee area. Systems conversion for the transaction was completed on May 15.
According to Heartland’s report, Madison-based Wisconsin Bank & Trust had total assets of $1.2 billion at the end of the second quarter, up from $658.8 million in the second quarter of 2014.
The subsidiary’s net income was $3 million in the quarter, up from $1.3 million in the same period a year ago.
Wisconsin Bank & Trust’s total portfolio loans and leases totaled $876.3 million, up from $496.5 million in the second quarter of 2014.
