Heartland BancCorp
Parent Company of Heartland Bank
ANNUAL REPORT
2015
April 2, 2016
Dear Shareholders,
2015 continued the financial trends we have witnessed for the last few years in Central Ohio
and ultimately, contributed to the success of Central Ohio’s Community Bank, Heartland. After
experiencing continued momentum from the economy and a thirst for our brand of community
banking, we were compelled to explore new initiatives, expansion, and personnel growth for
an already high performing team. We continue to plan for the future by investing in our people,
processes, and technology while holding the line on accountability. Our strategy of seeking clients
that appreciate value in their banking relationship, and providing value to that relationship,
continues to be a winner in the marketplace. For the fifth straight year, we have been ranked in
American Banker magazine’s “Top 200 Community Banks”, ranking 77th, validating that our core
strategy is indeed in demand and effective.
The continued merger and acquisition market in our industry has
created a crease of opportunity that can be taken advantage of
by only the most astute and consistent institutions. Heartland’s
flexibility, agility, speed to market, and “value add” has positioned
us well in a changing landscape. Being Central Ohio’s Community
Bank has never been more advantageous, and we have positioned
ourselves well for this movement.
This position, along with a robust local economy, has fueled physical
expansion of the branch network to include our Pickerington
location with two other Central Ohio communities, Hilliard and
Clintonville, following closely as branches are in the planning
stages in these locations. As a result of the continued growth of
the bank, our corporate offices and operational departments have
been displaced to multiple locations around Columbus. This, along
with the need for more office space, has contributed to the decision
to develop a new corporate center. While we gave a valiant effort
to restore the original Port Columbus Airport Terminal, the costs
associated with this leased facility outweighed the long term
objectives of the bank. We’re proud to have partnered with the City
of Whitehall, on a six acre parcel along Hamilton Road where we will
develop a 60,000 sq. ft., state-of-the-art corporate center. This will
enable the bank to become more efficient in corporate operations,
promote employee health and wellness, aid in recruiting the best
talent, and foster a new partnership with an up and coming Central
Ohio community in need of its own community bank.
All of this growth and success is due to the fine team we have
built over the years at Heartland. Growing bankers from within
has been a mainstay of the organization, and there is no better
example than 20 year veteran, Carrie Almendinger, who was
promoted to Executive Vice President and Chief Financial Officer
this past spring. To address retirements, the changing landscape
of banking, along with our continued growth, we implemented
a re-alignment of management in the fall, adding expertise and
management experience to the team with Brian Mauntel, our
current Chief Operations Officer. The addition and evolution of the
Distribution Strategies Group, headed by veteran, Ashley Trout, will
allow the bank to grow and perfect our internal processes while
simultaneously deploying new technology and increasing delivery
of our community bank offerings. Many more enhancements and
team additions have occurred improving our people portfolio,
sales management, credit underwriting, and operations. Put quite
simply, you win with happy people, and we remain committed to
our team members and their families.
The commercial lending group has been an asset of the bank
since its modern day inception, being known as a leader in SBA
and small business financing. Their continued impact on our
communities helps support the growth and success of Central
Ohio businesses. This year, we returned to the bank’s roots by
establishing an agribusiness lending group that will span the state
of Ohio. We feel that this will diversify our loan portfolio, create
long lasting relationships, and begin the delivery of our brand to
a wider footprint in the region. Leveraging and embracing our
roots in agriculture, along with our relationships and long lasting
support of Ohio 4H, positions us well within this industry across
the state.
All of this success and the emergence of Basel III required the
bank to seek more capital in 2015. The current rate environment
provided a unique opportunity for the bank to deliver a quality
return on investment for investors while not diluting shareholders’
ownership. In the fall, $5.4 million was raised through a sub-debt
offering at a rate of 4.99%, with $5.1 million fixed for 10 years. This
internal effort saved the bank over $300,000 in costs and secured
new capital at a rate not seen by any financial institution below
$1 billion in assets nationally. The result speaks volumes to the
consistence in performance, profitability, and strength your board
of directors has delivered, as well as the confidence in the strength
of your community bank and its management team. Collectively,
these attributes form the definition of shareholder value.
As we forge into 2016, we will stay the course, seeking those who
seek value from their banking relationship. Your direct involvement
in that promotion is greatly appreciated. Share your Heartland
story with your friends and colleagues, and thank you for your
continued support and referrals.
Community banking is alive and well in the Heartland, and we’re
just getting started.
G. Scott McComb
Chairman, President and CEO
THE YEAR IN REVIEW
O
R
E G
DEMA N D D
E P OSIT BALANC
%
27.57
H
W
T
Federal Financial Institutions
Examination Council’s UBPR
(Uniform Bank Performance Report)
RANKED
#77
on Top 200 Community
Banks and Thrifts List
12
$27MM
E P OSIT BALANC
First year growth in
DEMA N D D
Agribusiness Lending
E G
R
O
W
T
H
Completed
$5.4MM
sale of fixed and variable rate
subordinated
notes
Opened 12th branch
in Pickerington
Highest ranking for financial
strength and security.
COLUMBUS
BUSINESS FIRST
#7 SBA LENDERS LIST
Ranked by Columbus District
and Cincinnati Branch Loans
in SBA fiscal 2015
E P OSIT BALANC
DEMA N D D
SBA U.S. Small Business
Administration
E G
H
W
R
T
O
#8
in the District of
Columbus
$9,175,500 in 504 and 7a
Loans as of 9/30/15. 9/30/15 is
the fiscal year end for the SBA
DEMA N D D
+12.3%
TOTAL ASSET
GROWTH!
DEMA N D D
Flying
High in
2015
E G
E P OSIT BALANC
R
O
W
T
Up, Up and Away……
H
The inaugural launch of the Heartland Bank
hot air balloon took place in August of 2015
at the 50th Annual Reynoldsburg Tomato
Festival. The balloon supports the bank’s
marketing, public relations and special event
efforts while complimenting brand-building
and awareness strategies. Our Balloon
Crew flew over the Pelotonia-Pickerington
start line, Little Brown Jug, Ohio State
football and Crew SC tailgating, high school
football games and Farm Science Review.
E P OSIT BALANC
E G
R
DEMAN D D
O
W
T
H
E POSIT BALANC
E G
R
O
W
T
H
4
Performance and
EXCELLENCE
The past year signified unparalleled success for Heartland BancCorp,
as 2015 financial results represent the most profitable year in its 27
year history. Net income for 2015 increased 34% to $8.1 million or
$5.13 per diluted share, following an $879 thousand life insurance
benefit. Core earnings for 2015, excluding the life insurance benefit,
also achieved record levels, increasing 19% to $7.2 million or $4.57
per diluted share, compared to $6.1 million or $3.87 per diluted
share in 2014. Return on average assets and equity were 1.18% and
12.91% respectively for the year, and compare to .99% and 10.57%
for 2014. Improved operating results were further driven by higher
loan quality, which allowed for reduced loan loss provision expense
by $495 thousand, down 39% compared to 2014. In addition, a 9%
growth in loan balances and 28% growth in demand deposit balances
helped drive net interest margin higher to 4.02%, compared to 4.00%
for the prior year. Finally, Heartland continued its history of managing
expenses, evidenced by the efficiency ratio of 59.75%, which is among
the best in the Bank’s peer group. Heartland BancCorp’s financial
performance in 2015 reflects the strength and commitment of the
board of directors, and quality of the Heartland team.
Heartland BancCorp ended 2015 with strong liquidity, and the
Company exceeded all regulatory requirements in 2015. Capital levels
were strengthened as a result of higher earnings during the year, yet
capital planning was a key focus of management due to the current
and projected growth trajectory. In November, Heartland BancCorp
completed a private placement to accredited investors of $5.4
million in aggregate principal of fixed and variable rate subordinated
promissory notes, with a weighted interest rate of 4.986%. The
proceeds will give Heartland the opportunity to further execute its
business plan and meet the growing demand from clients and the
marketplace.
Overview of Operations:
Net interest income, before provision for loan loss, for 2015 was $25.4
million, up 11% or $2.6 million compared to 2014. Interest income
of $28.8 million for 2015 increased $3.1 million or 12%, and interest
expense on deposits and borrowings increased $455 thousand or 16%
compared to 2014. The expectation of a stable economy, improved
loan quality, and expected loan growth, led management to record a
provision for loan loss of $760 thousand in 2015. With net loan charge-
offs of $395 thousand, this resulted in an increase of $365 thousand
to the allowance for loan loss, which ended the year at $5.7 million.
The allowance as a percent of loans outstanding was 1.05% at the end
of 2015 representing a decline from 1.06% at the end of 2014. Net
interest income, after provision for loan loss, totaled $24.7 million, up
$3.1 million or 14% in 2015 compared to 2014.
Non-Interest income of $3.9 million for 2015 increased $844 thousand
or 27% compared to 2014. The higher non-interest income in 2015
was due primarily to life insurance proceeds, which totaled $879
thousand. Excluding the life insurance income, non-interest income
for 2015 decreased by $41 thousand due to lower net gains realized
on the sale of available-for-sale investment securities, which declined
by $118 thousand in 2015. Additionally, gains on sales of other
real estate owned totaled $5 thousand in 2015, a decrease of $205
thousand compared to 2014.
Non-Interest expense was $17.6 million for 2015, up $1.2 million or
8% over 2014. Total salary and employee benefit expense increased
$1.0 million or 11.2% in 2015. The higher employee cost was due
to increased staff for the new Pickerington branch, an executive
management team addition to further
increase management
expertise to facilitate continued growth, and higher employee and
incentive costs related to strong loan production. Professional fees
totaling $498 thousand in 2015 declined $274 thousand or 36%,
reflecting a decline in legal expense from improved loan quality.
Financial Condition:
Total assets increased $79.8 million, or 12%, to $729.5 million as of
December 31, 2015, compared to $649.7 million in 2014. Net loans
outstanding increased to $541.0 million, up $42.4 million or 9%
compared to net loans of $498.6 million at the end of 2014. Total
commercial loans (excluding agriculture) increased $25 million, up 7%
as of December 31, 2015, of which commercial (non-real estate) loans
grew 12% to $51.1 million, and commercial real estate loans increased
6% to $353.1. As a result of the focus on Agricultural lending, net
Agricultural loan balances grew to $12.8 million as of December 31,
2015. Retail loans outstanding totaled $130.0 million, an increase of
4% over 2014, with residential real estate loans up 4% to $94.3 million.
Overall asset quality continued to improve during 2015, with non-
performing assets declining to .72% of total assets, down 10 basis
points from .82% as of December 31, 2014.
Heartland BancCorp funds earning asset growth through its deposit
relationships. Total deposits as of December 31, 2015 were $623.0
million, up 12% from $556.2 million as of December 31, 2014. A
key element of Heartland’s deposit strategy continues to focus on
growing commercial and retail transaction accounts. This strategy is
evidenced by the $30.1 million or 28% growth in non-interest bearing
demand deposit accounts during 2015.
Shareholders’ Equity:
Total shareholders’ equity remained strong, growing 10% to $66.7
million in 2015. Based upon shares outstanding, the book value of
shareholders’ equity increased 9% from $39.05 at year-end 2014
to $42.61 per share as of December 31, 2015. Among the financial
strengths of Heartland BancCorp is its capital position, which exceeds
regulatory guidelines and compares favorably to peers and other
Ohio based banks. Tier 1 leverage, Common equity Tier 1, Tier 1 risk
based and Total risk based capital ratios were 9.20%, 11.95%, 11.95%,
and 12.99% respectively as of December 31, 2015. Regulatory
requirements for a “well-capitalized bank” are 5%, 6.5%, 8%, and 10%
respectively for these measurements. In 2015, Heartland BancCorp
paid a dividend of $1.47 per share, representing a yield of 3.26%
on the weighted average market price of $45.17 per share for 2015.
Dividends paid resulted in a payout ratio of 28.26% for 2015.
Heartland BancCorp
CONSOLIDATED BALANCE SHEETS
December 31, 2015 and 2014
CONSOLIDATED STATEMENTS OF INCOME
Years Ended December 31, 2015 and 2014
2015
2014
Interest Income
Assets
Cash and cash equivalents
Available-for-sale securities
Held-to-maturity securities, fair value $6,407,215
and $6,914,217 at December 31, 2015 and 2014,
respectively
Loans, net of allowance for loan losses of $5,715,827
and $5,350,637 at December 31, 2015 and 2014,
respectively
36,994,171
22,561,068
114,492,664
101,479,692
6,044,094
6,454,963
540,958,372
498,585,125
Loans
Securities
Taxable
Tax-exempt
Other
Premises and equipment
13,506,350
12,653,144
Interest Expense
Non-marketable equity securities
2,658,239
2,655,439
Deposits
Foreclosed assets held for sale
-
108,082
Borrowings
Total interest income
28,754,809
25,698,345
1,958,082
1,803,108
Total interest expense
Net Interest Income
Provision for Loan Losses
417,353
1,722,934
9,327,518
1,416,804
417,353
1,574,075
1,215,898
174,341
$ 729,496,581
$ 649,682,288
Net Interest Income After Provision for Loan Losses
24,688,933
21,591,987
Non-interest income
Service charges
1,925,467
1,980,529
Net gain and commissions on loan sales
241,742
Net realized gains on sales of available-for-sale securities
18,291
$ 139,226,242
$ 108,394,566
Benefit in excess of life insurance cash value
Net realized gain on sales of foreclosed assets
Saving, NOW and money market
219,076,813
203,367,315
Other
264,651,203
244,394,645
Total non-interest income
3,950,240
3,105,952
Interest receivable
Goodwill
Deferred income taxes
Life insurance assets
Other
Total assets
Liabilities and Shareholders’ Equity
Liabilities
Deposits
Demand
Time
Total deposits
Short-term borrowings
Long-term debt
Interest payable and other liabilities
622,954,258
556,156,526
29,150,118
28,395,316
5,460,000
-
5,270,849
4,421,322
Non-interest Expense
Salaries and employee benefits
Net occupancy and equipment expense
Total liabilities
662,835,225
588,973,164
Shareholders’ Equity
Common stock, without par value; authorized
5,000,000 shares; issued 2015 - 1,564,581 shares,
2014 - 1,554,457 shares
Retained earnings
23,872,599
23,558,806
41,991,488
36,160,565
Accumulated other comprehensive income (loss)
797,269
989,753
Total shareholders’ equity
66,661,356
60,709,124
Total liabilities and shareholders’ equity
$ 729,496,581
$ 649,682,288
Book value per share
$
42.61
$
39.05
Data processing fees
Professional fees
Marketing expense
Printing and office supplies
State financial institution tax
FDIC Insurance premiums
Other
Total non-interest expense
Income before Income Tax
Provision for Income Taxes
Net Income
Basic Earnings Per Share
Diluted Earnings Per Share
2015
2014
$ 25,775,945
$ 22,767,132
1,376,312
1,551,627
50,925
1,256,494
1,626,882
47,837
3,256,624
2,834,757
49,252
16,601
3,305,876
2,851,358
25,448,933
22,846,987
760,000
1,255,000
121,695
136,701
209,901
-
657,126
5,308
879,488
879,945
10,331,707
1,842,702
1,082,143
498,406
545,990
158,877
423,926
411,000
9,294,269
1,706,778
1,018,464
772,812
598,036
165,248
373,224
342,089
2,261,155
2,060,441
17,555,906
16,331,361
11,083,267
2,955,567
$ 8,127,700
$
$
5.21
5.13
8,366,578
2,285,364
6,081,214
3.92
3.87
$
$
$
6
Keeping our community
SMILING
Mark Pi Jr.
President at Sunrise Foods
“Sunrise began to grow very quickly and several other
banks were unable to meet our needs. Heartland Bank
partnered with Ohio Development Services Agency on
their Collateral Enhancement Program and was able to
finance us when other banks turned us down. Heartland
Bank has been able to meet our banking needs ever since!”
Victoria Burton
CFO at Burton Metal Finishings
“Heartland Bank stood beside the Burton family when
many banks would have walked away. They represent
many things that are difficult to find in the business world
today. The employees of the bank personally know who
you are and find ways with their expertise to help get you
the financing that fits your needs.”
Brad Jalovec
Route 62 BBQ
“Heartland Bank has been my partner in business since we
opened in 2007. Being located in a small, rural community,
I was looking for a bank that would take a personal interest
in my business and financial matters. Over the past eight
years, I have been impressed with their professional
approach and personal touch. I look forward to continuing
our relationship for many years to come.”
Christian and Sybil McCoy
Cookie Bouquet
“Without Heartland Bank, I wouldn’t be in business.
Cookie Bouquets was a struggling on-line provider
of cookies arranged in floral like bouquets for special
occasions and holidays. I wanted to buy it and capitalize
on its footprint in the world of e-Commerce. Having just
completed my one year anniversary, I couldn’t be happier
and more proud of our performance to date. Heartland
Bank is a true trusting partner in every sense of the word.”
David Patel
Indus Hotels
“Indus Hotels is committed to
building long-term relationships
with our customers, employees,
investors. Heartland
and our
Bank shares that same passion.
Most
importantly, Heartland
Bank was there for us when we
needed them the most; at the
depth of the last recession. For
that, we are extremely grateful.
Thank You, Team Heartland!”
Taking Stock in Your
Community
When you buy shares in Heartland BancCorp, you’re supporting
an entire community and a trusted institution that shares your
values of hard work, personal commitment, community support
and sound financial practices.
Interested in becoming a Shareholder?
To learn more about Heartland BancCorp shares, please contact one of the
following:
• Scott McComb, Chairman, President and CEO of Heartland Bank or
Jennifer Eckert, Vice President, Compliance Officer and Corporate Secretary
(614) 337-4600
• Your Financial Advisor
• Heartland Investment Services (614) 839-2265
Heartland BancCorp
Total Return Performance
Heartland BancCorp
SNL Bank Pink >$500 M
SNL Midwest Bank
275
250
225
200
175
150
125
100
80
l
e
u
a
V
x
e
d
n
I
HLAN Heartland BancCorp is currently quoted on the over-the-counter (OTC)
Bulletin Board Service under the symbol HLAN.
Heartland BancCorp I ir.HeartlandBank.com
12/2011
12/2012
12/2013
12/2014
12/2015
This graph depicts the yearly percentage change in Heartland BancCorp’s cumulative total
shareholder return against the cumulative return of the SNL Bank Pink Sheet index of
banking institutions over $500 million in total assets and the SNL Midwest Bank index over
the last 5-year fiscal periods. Calculations include the reinvestment of dividends and are
indexed to the base year measurement point (closing price on the last trading day before the
beginning of the registrant’s fifth preceding fiscal year).
Statements made are a reflection of past performance of the bank and holding company and should not be considered a projection of future performance. Investments involve varying degrees of risk, including possible loss of principal. Funds
held in corporate stock are not considered a deposit of the bank or bank holding company, not guaranteed by the bank or holding company and are not insured by the FDIC or any government agency and may lose value.
8
Caring for our
COMMUNITIES
A Tradition of
Giving
104.9 The River’s Mission Backpack
NES Hop (PACT)
Asian American Commerce Group
OCAT (Airport)
Better Business Bureau of Central Ohio
CD102.5 For The Kids
Central Ohio Diabetes Association
Columbus Kappa Foundation
Crew Soccer Foundation
Croton Church of Christ Food Pantry
Dublin Food Pantry
Ernie Reyes World Martial Arts
Association
Gahanna Lincoln High School DECA
Gahanna Residents in Need (G.R.I.N.)
Gahanna Soccer Association Sponsor
Grove City Food Pantry Emergency
Services, Inc.
Grow Licking County
Johnstown Athletic Boosters
Johnstown Food Pantry
Licking County Courthouse Lighting
Committee
LifeTown Lessons For Life
Lutheran Social Services Food Pantry
An Evening of Ohio Wine and Food,
benefiting Ohio 4-H Youth Development
Ohio 4-H Celebration of Youth
Ohio Children’s Hunger Alliance
Oldtime Farming Festival
Pelotonia
Relay For Life
Reynoldsburg Helping Hands Food
Pantry
Rhema Christian Center
Southwestern City Schools
St. Matthews Catholic Church - Gahanna
Stephanie Spielman Fund
The James Cancer Hospital
The Open Shelter
Tyler’s Light
UNCF Walk for Education
United Way of Central Ohio
USO
Victory Ministries For Children’s
Outreach Program
March of Dimes - March for Babies
Vineyard Grace Fellowship
Masonic Learning Centers for Children
with Dyslexia
Westerville Area Resource Ministry
(W.A.R.M.)
Mental Health America of Licking
County-YES Program
2015
at a Glance
Columbus Crew SC Partnership:
This Preferred Banking Partner
sponsorship has provided Heartland
Bank with the opportunity to reach a
new demographic of customers with
on-site signage at MAPFRE Stadium,
suite access to every event, pre-game
plaza appearances, a Crew SC debit/
credit card program and endorsement
with Crew SC Midfielder, Wil Trapp.
Employee
Initiatives
104.9 The River’s Mission Backpack
18th annual Heartland Bank Charity Golf
Classic
Girl Scouts Financial Literacy
Johnstown Monroe’s Searfoss
Elementary School 4th grade Financial
Literacy
8th Annual Money Matters Free
Financial Summit
Tiney’s Team Pelotonia ride for cancer
research
Silent Auction at annual Holiday Party to
benefit local food banks and non-profits
Heartland Bank
Sponsored Events
Farm Science Review
Gahanna Creekside Blues & Jazz Festival
Grove City Arts in the Alley
Hartford Fair
Hilltop Bean Dinner
Johnstown Fireman’s Festival
Newark Bluegrass on Main Street
North Market’s Craft Brew Festival
Reynoldsburg Tomato Festival
Summer Jam at Westgate Park
Westerville Music & Arts Festival
OSDC
Awards
The Ohio Statewide Development
Corporation named Heartland Bank
as their ‘Bank of the Year’ and VP,
Commercial Relationship Manager,
Bob Crow, as their ‘Lender of the
Year’ for their work with OSDC to
obtain financing approval for six
different businesses representing a
total projected investment of over
$6 million.
Celebrating pre-game at the Crew SC v. Timbers
MLS Cup Championship match at MAPFRE Stadium
Agribusiness Intern Brandon Spangler is honored
by CEO Scott McComb and VP, Manager of
Agribusiness Joel Oney for his work in our
Internship Program
OSDC Bank of the Year
Celebrating Dublin’s St. Patrick’s Day Parade
Proud to partner with 104.9 The River to accept
school supply donations for Mission Backpack
OSDC Lender of the Year - Bob Crow
Hosted Tailgate for the Troops event prior to the
OSU v. Northern Illinois game
Crew SC Midfielder, Wil Trapp #20, hands out
trophies at the Gahanna Fall Open
Heartland Bank RV
Made appearances at both Ohio
State football games and Columbus
Crew SC matches, local parades and
festivals and youth soccer events in
central Ohio. The RV even served as
the backdrop for the USO Tailgate for
the Troops cookout that served 250
military veterans this fall.
Product Launch:
Launched free suite of security
features in 2015, including Trusteer
Rapport by IBM, an online fraud
protection software that mitigates
financial malware infections and Card
Valet, a smartphone app that not only
detects unauthorized account activity,
but allows users to control debit card
usage.
Heartland Bank Tiney’s Team at the Pelotonia 100
mile finish line
Hilliard dignitaries join CEO Scott McComb at the
groundbreaking ceremony on August 26
10
Leadership and
TEAMWORK
Heartland Senior Management Team
G. Scott McComb
Chariman, President and CEO
Our Senior Management team
represents what Heartland Bank is all
about: people and the relationships
we build as a community bank.
Each member not only brings
detailed insight, knowledge and
expertise to Heartland Bank, but
also a passion for helping our
customers and communities plan,
grow and succeed.
Carrie L.
Almendinger
EVP, Chief Financial
Officer
Brian T.
Mauntel
EVP, Chief Operating
Officer
William A.
Daily, Jr.
SVP, Commercial
Lending Manager
Joseph A.
Duffey
VP, Director of
Credit
Administration
Mark J.
Posey
VP, Director of
Investment Services,
Heartland;
Investment Executive,
Infinex
Alissa R.
Schierberl
AVP, Director of
Human Resources
Steven C.
Hines
EVP, Chief
Administration
Officer
David P.
Curby
SVP, Mortgage
Lending
Benjamin J.
Babcanec
VP, Head of Retail
Administration
Jennifer L.
Eckert
VP, Compliance
Officer,
Corporate Secretary
Ashley A.
Trout
VP, Director of
Distribution
Strategies
Gretchen A.
Hof
AO, Director of
Marketing
Heartland BancCorp Directors
Arthur G.H. Bing M.D.
Retired
Plastic & Reconstructive Surgeon
David C. Kotary
Senior Vice President
Marsh & McLennan Agency, LLC
Gary D. Paine
Owner
Pilot Freight Services
William A. Dodson, Jr.
EVP/Community Relations Director,
Rhema Christian Center
Gerald K. McClain
President
The Jerry McClain Company, Inc.
William J. Schottenstein
Principal
Arshot Investment Corporation
Jay B. Eggspuehler, Esq.
Isaac Wiles
Jodi L. Garrison
CPA, Partner
Hirth, Norris & Garrsion, LLP
John R. Haines
Retired
John R. Haines Insurance Agency
G. Scott McComb
Chairman, President and CEO
Heartland Bank
Robert C. Overs
Retired, EVP & COO
Technical Rubber Company, Inc.
George R. Smith
Retired, EVP & CFO
Heartland Bank
Richard A. Vincent
President & CEO
Osteopathic Heritage Foundation and
Osteopathic Heritage Foundation of
Nelsonville
Heartland BancCorp
Directors Emeritus
Heartland BancCorp
Officers
Heartland Insurance
Services
I. Robert Amerine
Chairman, American Apex Corporation
G. Scott McComb
Chairman, President and CEO
Agent Representation
Marsh & McLennan Agency, LLC.
Jack J. Eggspuehler
President, Aerosafe, Inc.
Jay B. Eggspuehler, Esq.
Vice Chairman
Tiney M. McComb
Founder, Heartland BancCorp
Jodi L. Garrison
Secretary
Cheryl C. Poulton
Executive Chairman, Tech International
Carrie L. Almendinger
Treasurer
Heartland Investment
Services
Mark J. Posey
VP, Director of Investment Services,
Heartland;
Investment Executive, Infinex
CENTRAL OHIO FOOTPRINT
1
2
5
14
13
9
7
10
INTERSTATE
71
4
11
8
INTERSTATE
70
6
NEWARK
3
INTERSTATE
270
12
Call Us Today
1. Croton
740-893-2191
9. Westerville
614-839-2265
2.
Johnstown
740-967-6500
10.
Stygler Road
614-475-7024
3. Grove City
614-875-1884
11.
Capitol Square
614-416-0244
4. Wilson Road
614-351-2100
12.
Pickerington
614-321-4919
5. Dublin
6. Newark
7. Gahanna
614-798-8818
740-349-7888
614-337-4605
8. Reynoldsburg
614-416-0400
13. Worthington Christian Village
614-846-6076
14. Friendship Village of Dublin
614-923-0575
General Info
Heartland BancCorp is a registered Ohio bank holding company and the parent of
Heartland Bank, which operates twelve full-service banking offices. Heartland Bank,
founded in 1911, provides full service commercial, small business, and consumer
banking services; alternative investment services; insurance services; and other
financial products and services. Heartland Bank is a member of the Federal Reserve, a
member of the FDIC and an Equal Housing Lender.
HeartlandBank.com
Proudly serving central Ohio since 1911
Member FDIC NMLS# 440231 Equal Housing Lender
Heartland’s Shared
Values
• Superior service is our highest
priority.
• Productivity is an integral part
of our corporate strategy.
• Team players receive the
highest rewards.
• Quality is rewarded as well as
quantity.
• Rewards will include
advancement, recognition
and/or incentive
compensation.
• Through access to accurate
information, we will strive
to keep ourselves and our
customers informed.
• We will constantly seek to
improve how we are perceived
by our customers.
• We will empower our
employees to perform their
duties in a responsible
manner.
• We will seek to know our cost
of doing business.
• We encourage the exploring
of new ideas.
• Our business is to provide
customer satisfaction
profitability.
• We value loyalty, honesty and
integrity in our relationships.
• We are committed to the
enrichment of our local
communities through our
involvement.
Mission Statement
It is Heartland Bank’s mission to
provide the best personalized
financial services at competitive
prices for the economic growth
and well being of individuals
and businesses within our
communities. This goal shall be
accomplished through well-
trained, caring employees with
unquestionable integrity, who
practice sound and innovative
banking principles, which will
maximize bank profits and
growth.
850 North Hamilton Road
Gahanna, OH 43230
HeartlandBank.com
1 (800) 697-0049
Member FDIC NMLS# 440231 Equal Housing Lender