Wisconsin Bank and Trust: Closes on merger with Community Bank and Trust of Sheboygan

Kevin S. Tenpas – President and CEO

(920) 983-5008



Madison, WI, January 20, 2015 — Wisconsin Bank & Trust, a subsidiary of Heartland Financial USA, Inc. (NASDAQ: HTLF), announced today that Heartland has closed on the acquisition of Community Banc-Corp of Sheboygan, Inc., parent company of Community Bank & Trust serving the Sheboygan, Chilton, and Milwaukee areas.

The merger agreement, which received Community Banc-Corp shareholder approval on December 29, 2014 and all regulatory approvals, provided for all outstanding shares of Community Banc-Corp to be converted into shares of Heartland common stock. The aggregate purchase price of approximately $52.8 million was paid through the issuance of approximately 1,970,900 shares of Heartland’s common stock to former Community Banc-Corp shareholders. Heartland expects the transaction to be accretive to its earnings per share in 2015 and 2016, excluding one-time merger related expenses.

Said Kevin Tenpas, President and CEO of Wisconsin Bank & Trust, “We continue to expand the Wisconsin Bank & Trust community banking business model across Wisconsin, and are pleased to enter Community Bank & Trust’s quality markets and serve more of the Sheboygan and the greater Milwaukee areas. We are also pleased to add a talented team of experienced commercial and personal banking professionals to our team under the leadership of Scott Moseley, who is continuing as Regional Market President.

“Community Bank & Trust leads the state in SBA loans by banks of its size and is the deposit leader in Sheboygan County. We hope to preserve their strong presence in the community and their tradition of superior service, while expanding product offerings and the services we provide.

“We expect to convert Community Bank & Trust customers to the Wisconsin Bank & Trust computer system in May. Customers will see signage changes in the spring.”

“We believe our customers will continue to feel at home and benefit from this merger,” said Anthony Jovanovich, Chairman and CEO of Community Banc-Corp. “They will have access to a wide selection of convenient financial products and services offered by Wisconsin Bank & Trust. Wisconsin Bank & Trust shares our community and service focus and is a great fit for our customers.”

As of September 30, 2014, Community Bank & Trust had assets of $525 million, loans of $410 million and deposits of $429 million; Wisconsin Bank & Trust had assets of $665 million, loans of $509 million and deposits of $565 million. For Wisconsin Bank & Trust, the acquisition adds 10 new locations to its current footprint and opens the door for potential future expansion in the Milwaukee area. The combined bank will have assets of approximately $1.1 billion and 19 locations across the state. It is anticipated that all Community Bank & Trust locations will remain open. Wisconsin Bank & Trust will consolidate its Sheboygan office into a Community Bank & Trust banking center in Sheboygan.

About Wisconsin Bank & Trust

Wisconsin Bank & Trust (WB&T) is a community bank serving customers in the Madison, Monroe, Green Bay, Sheboygan and southwest areas of Wisconsin. The bank operates nine branch offices and three mortgage origination offices, all located in Wisconsin, and is a subsidiary of Heartland Financial USA, Inc. WB&T is a member of the Federal Deposit Insurance Corporation and an Equal Housing Lender. Learn more at www.wisconsinbankandtrust.com.

About Heartland Financial USA, Inc.

Heartland Financial USA, Inc. is a diversified financial services company providing banking, mortgage, wealth management, investment, insurance and consumer finance services to individuals and businesses. Heartland currently has 86 banking locations in 63 communities in Iowa, Illinois, Wisconsin, New Mexico, Arizona, Montana, Colorado, Minnesota, Kansas and Missouri and loan production offices in California, Nevada, Wyoming, Idaho, North Dakota, Oregon, Washington and Nebraska. 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.