Heartland Financial USA, Inc. Announces Completion of Its Redemption of Trust Preferred Securities DUBUQUE, Iowa, Oct. 1 /PRNewswire-FirstCall/ -- Heartland Financial USA, Inc. (NASDAQ:HTLF) (the "Company") announced that Heartland Financial Capital Trust I (the "Trust"), a trust subsidiary of the Company, redeemed all of its 9.60% Trust Preferred Securities (the "Trust Preferred Securities") (AMEX:HFT) and its 9.60% Common Securities at a redemption price equal to the $25.00 liquidation amount of each security plus all accrued and unpaid interest per security. The redemption was completed on September 30, 2004. The Trust Preferred Securities were originally issued in 1999 and were listed on the American Stock Exchange. HFT.Pr holders do not need to take any action to receive payment for the redemption of the Trust Preferred Securities. On September 30, 2004, funds were deposited with the Depository Trust Corporation ("DTC") to pay the redemption price for all the Trust Preferred Securities. DTC will distribute the funds to the participants. The Trust took such action in connection with the concurrent redemption by the Company of all of its $25,780,000 9.60% Debentures due September 30, 2029 which were held exclusively by the Trust. The Debentures were redeemed on September 30, 2004 at a redemption price equal to the principal outstanding amount of the Debentures plus all accrued and unpaid interest. About Heartland Financial USA: Heartland is a $2.5 billion financial services company with eight banks in Iowa, Illinois, Wisconsin, New Mexico, Arizona and Montana: Dubuque Bank and Trust Company, with eight offices in Dubuque, Epworth, Farley and Holy Cross, Iowa Galena State Bank and Trust Company, with three offices in Galena and Stockton, Illinois First Community Bank, with three offices in Keokuk, Iowa and Carthage, Illinois Riverside Community Bank, with three offices in Rockford, Illinois Wisconsin Community Bank, with seven offices in Cottage Grove, Fitchburg, Green Bay, Middleton, Monroe and Sheboygan, Wisconsin and Minneapolis, Minnesota New Mexico Bank & Trust, with twelve offices in Albuquerque, Clovis, Melrose, Portales and Santa Fe, New Mexico Arizona Bank & Trust, with two offices in Mesa and Chandler, Arizona Rocky Mountain Bank, with eight offices in Bigfork, Billings, Bozeman, Broadus, Plains, Plentywood, Stevensville and Whitehall, Montana Other subsidiaries include: ULTEA, Inc., a fleet management company with offices in Madison, Wisconsin and Chicago, Illinois Citizens Finance Co., a consumer finance company with offices in Madison and Appleton, Wisconsin, Dubuque, Iowa, and Rockford, Illinois HTLF Capital Corp., an investment banking firm in Denver, Colorado Heartland's shares are traded on The Nasdaq Stock Market under the symbol HTLF. Additional information about Heartland is available through our website at http://www.htlf.com/ . Special Note Concerning Forward-Looking Statements This press release contains, and future oral and written statements of Heartland Financial USA, Inc. (the "Company") and its management may contain, forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 with respect to the financial condition, results of operations, plans, objectives, future performance and business of the Company. Forward-looking statements, which may be based upon beliefs, expectations and assumptions of the Company's management and on information currently available to management, are generally identifiable by the use of words such as "believe," "expect," "anticipate," "plan," "intend," "estimate," "may," "will," "would," "could," "should" or other similar expressions. Additionally, all statements in this press release, including forward-looking statements, speak only as of the date they are made, and the Company undertakes no obligation to update any statement in light of new information or future events. Additional information concerning the Company and its business, including additional factors that could materially affect the Company's financial results, is included in the Company's filings with the Securities and Exchange Commission. DATASOURCE: Heartland Financial USA, Inc. CONTACT: John K. Schmidt, Chief Operating Officer and Chief Financial Officer of Heartland Financial USA, Inc., +1-563-589-1994, ; General Inquiries, Jeff Wilhoit, +1-312-640-6757, , or Analyst Inquiries, Shelly Faaborg, +1-310-407-6555, , both of Financial Relations Board Web Site: http://www.htlf.com/

Copyright