Press Release

Heartland Financial USA, Inc. Announces 20 percent Premium Pay Program for Certain Employees

Recognition of efforts by customer-facing bank branch and call center employees

Company Release - 4/9/2020 10:27 AM ET

DUBUQUE, Iowa, April 09, 2020 (GLOBE NEWSWIRE) -- Heartland Financial USA, Inc. (NASDAQ: HTLF) announced additional support for employees who are on the front lines serving our customers during this challenging time.

Hourly customer-facing bank branch employees and customer service representatives in our call centers will receive premium pay of 20 percent, effective April 1, 2020.

“Heartland stands with our employees and their families,” said Bruce Lee, President and Chief Executive Officer.  “While many of us are working remotely and will continue to do so, others have been working in our branches to support customers’ banking needs.”

“Our employees are taking care of our customers who are trying to navigate the financial impacts of COVID-19, and we’re taking care of our employees with programs such as premium pay and paid time off for illness, caring for a sick family member, or child care due to school closures.”

Heartland is financially strong and uniquely situated due to the everyday efforts of our employees.  In addition to premium pay, we have taken significant steps to support our employees and protect their health and safety as they continue to deliver excellent service to our customers and communities:

  • Directed all employees who can work from home to do so.
  • Committed to pay all employees at 100% through May 31, 2020.  Employees who need time off because of illness, to care for a sick family member or to provide child care due to school or day care closings will be paid at their full rate.
  • Committed to cover all COVID-19 related testing and treatment costs for primary healthcare plan participants.  Members will have no out of pocket cost, including copays, deductibles or coinsurance. 
  • Closed most bank lobbies and implemented drive thru only.
  • Deep cleanings at all locations on nights and weekends to reduce the spread of germs.
  • Restricted business travel, are monitoring personal travel, and cancelled all in-person events and meetings.
  • Annual merit cycle continued as planned in 2020.

About Heartland Financial USA, Inc.
Heartland Financial USA, Inc. is a diversified financial services company with assets of $13.2 billion. The company provides banking, mortgage, private client, investment and insurance services to individuals and businesses. Heartland currently has 114 banking locations serving 83 communities in Iowa, Illinois, Wisconsin, New Mexico, Arizona, Montana, Colorado, Minnesota, Kansas, Missouri, Texas and California. Additional information about Heartland Financial USA, Inc. is available at www.htlf.com.

Safe Harbor Statement
This release, and future oral and written statements of Heartland and its management, may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 about Heartland’s financial condition, results of operations, plans, objectives, future performance and business. Although these forward-looking statements are based upon the beliefs, expectations and assumptions of Heartland’s management, there are a number of factors, many of which are beyond the ability of management to control or predict, that could cause actual results to differ materially from those in its forward-looking statements. These factors, which are detailed in the risk factors included in Heartland’s Annual Report on Form 10-K filed with the Securities and Exchange Commission, include, among others: (i) the strength of the local and national economy; (ii) the economic impact of past and any future terrorist threats and attacks and any acts of war, (iii) changes in state and federal laws, regulations and governmental policies concerning the Company’s general business; (iv) changes in interest rates and prepayment rates of the Company’s assets; (v) increased competition in the financial services sector and the inability to attract new customers; (vi) changes in technology and the ability to develop and maintain secure and reliable electronic systems; (vii)  the loss of key executives or employees; (viii)  changes in consumer spending; (ix) unexpected results of acquisitions; (x) unexpected outcomes of existing or new litigation involving the Company; and (xi) changes in accounting policies and practices. All statements in this release, including forward-looking statements, speak only as of the date they are made, and Heartland undertakes no obligation to update any statement in light of new information or future events.

CONTACT:
Ryan Lund
VP, Director of Corporate Communications
952-746-0439
rlund@htlf.com

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Source: Heartland Financial USA, Inc.