Brief: Heartland Financial And QCR Holdings Announce That Illinois Bank & Trust Will Acquire The Assets Of Rockford Bank And Trust Co

QCR Holdings

13/08/2019 22:44

Aug 13 (Reuters) - Heartland Financial USA Inc  HTLF.O :
    * HEARTLAND FINANCIAL USA, INC. AND QCR HOLDINGS, INC.
ANNOUNCE
THAT ILLINOIS BANK & TRUST WILL ACQUIRE THE ASSETS OF ROCKFORD
BANK AND TRUST COMPANY
    * HEARTLAND FINANCIAL USA INC - BASED ON RB&T'S BALANCE
SHEET AS
OF JUNE 30, 2019, PURCHASE PRICE PREMIUM WOULD BE $13.4 MILLION
    * HEARTLAND FINANCIAL USA INC - BASED ON RB&T'S BALANCE
SHEET AS
OF JUNE 30, 2019, TOTAL PAYMENT BY IB&T TO RB&T WOULD BE $59.2
MILLION
    * HEARTLAND FINANCIAL USA INC - UPON COMPLETION, JEFFREY S.
HULTMAN, PRESIDENT AND CEO OF IB&T, WILL CONTINUE IN HIS
POSITION AS CEO OF IB&T
    * HEARTLAND FINANCIAL USA INC - UPON COMPLETION, THOMAS D.
BUDD,
PRESIDENT AND CEO OF RB&T, WILL ASSUME ROLE OF PRESIDENT OF IB&T

Source text for Eikon:  ID:nGNX6c19Ly 
Further company coverage:  HTLF.O 

 ((Reuters.Briefs@thomsonreuters.com;))