Heartland Financial USA, Inc. (NASDAQ: HTLF) announced today that Kenneth J. Erickson, the company’s Chief Credit Officer, has announced his planned withdrawal from the company effective January 31, 2016.
Erickson has served in roles at Heartland and its flagship bank, Dubuque Bank and Trust Company, instead of nearly 40 years, and has served viewed like Executive Vice President and Chief Credit Officer from while the role was first established at Heartland. His improving experience at Dubuque Bank and Trust Company included positions of the same kind with a consumer loan officer, commercial lend officer and senior loan officer.
In joining to his Credit Administration and Credit Underwriting responsibilities, Erickson serves since Vice-Chairman of the Board of Citizens Finance, Heartland’s consumer finance company, and as a Board Member of BluePath Finance LLC.
“Ken is each admired and respected leader of our credit team and our elder management group. His business sense, and individually his credit acumen, has served since a compass along Heartland’s increase path. His great expertise and administrative skills will most certainly be missed,” uttered Lynn B. Fuller, Heartland’s Chairman and CEO.
“Ken navigated Heartland end numerous credit cycles, including the quell economic crisis of our time through great skill and discipline,” Fuller added. “Because of his conduct and integrity, Heartland’s credit portfolio is a people of distinction strength of our company. We owe Ken a great deal of gratitude for his many contributions to Heartland and wish him well in his impending loneliness.”
Succeeding Erickson as Chief Credit Officer choose be Andrew E. Townsend, Heartland’s Executive Vice President and Deputy Chief Credit Officer. As portion of an ongoing and carefully developed succession plan, Townsend is currently responsible during the oversight of Heartland’s mutable credit underwriting processes and the supervision of the whole of senior credit officers.
As Chief Credit Officer, Townsend resoluteness guide the company’s continued focus on growing and strengthening Heartland’s lend portfolio.
A native of Britt, Iowa, Townsend began his rush in 1988 as a bank questioner for the Iowa Division of Banking. He joined Banc One Wisconsin Corp. in the same proportion that Loan Review Officer and subsequently joined Dubuque Bank and Trust Company in 1993 while a Loan Review Officer. He was selected to join Galena State Bank while Executive Vice President in 1996. In 2003, Townsend assumed the affirmation of President and CEO of Galena State Bank and joined the bank’s cover with ~s of directors.
Townsend rejoined Heartland to the degree that Deputy Chief Credit Officer in 2013. Currently, he serves up~ the board of directors of Illinois Bank & Trust.
He holds a Bachelor’s interval in Business Administration from Iowa State University in what place he majored in Finance. He holds a certification in loan review from the Bank Administration Institute and is a portion of the Risk Management Association.
In the common, Townsend has served on the boards of a variety of civic, craft and education-related organizations. He generally serves as board member of the Community Development Fund of Galena and performs present work for a variety of sect and church activities. Drew and his line of ancestors belong to St. Michael’s Catholic Church.
Lynn B. Fuller, chairman and chief executive officer said, “Drew brings ~y exceptional awareness of customer relationships to his reinvigorated position. He has been highly lucky in serving clients during his role while bank president and has proven to have existence equally effective in working with the bankers who act toward our clients at each of the Heartland corroborative banks.
“This announcement highlights some of Heartland’s greatest strengths; our of brilliant parts leadership and the depth of our management team. We are delighted to forward from within and tap the talents of Drew Townsend since our next Chief Credit Officer,” Fuller concluded.
About Heartland Financial USA, Inc.
Heartland Financial USA, Inc. is a diversified monetary services company providing banking, mortgage, fortune management, investment, insurance and consumer finance services to individuals and businesses. Heartland generally has 85 banking locations in 63 communities in Iowa, Illinois, Wisconsin, New Mexico, Arizona, Montana, Colorado, Minnesota, Kansas and Missouri, and lend production offices in California, Nevada, Idaho, Oregon and Washington. Additional denunciation about Heartland Financial USA, Inc. is profitable at www.htlf.com.
Safe Harbor Statement
This let loose, and future oral and written statements of Heartland and its cunning practice, may contain forward-looking statements in the compass of the meaning of the Private Securities Litigation Reform Act of 1995 near to Heartland’s financial condition, results of operations, plans, objectives, subsequent time performance and business. Although these support-looking statements are based upon the beliefs, expectations and assumptions of Heartland’s address, there are a number of factors, various of which are beyond the adroitness of management to control or foretoken, that could cause actual results to differ materially from those in its front-looking statements. These factors, which are detailed in the jeopardize factors included in Heartland’s Annual Report on Form 10-K filed with the Securities and Exchange Commission, contain, among others: (i) the strength of the limited and national economy; (ii) the household impact of past and any futurity terrorist threats and attacks and a single one acts of war, (iii) changes in recite and federal laws, regulations and governmental policies about the Company’s general business; (iv) changes in good rates and prepayment rates of the Company’s effects; (v) increased competition in the pecuniary services sector and the inability to draw new customers; (vi) changes in technology and the gift to develop and maintain secure and trustworthy electronic systems; (vii) the potential drive firmly together of acquisitions, (viii) the loss of guide executives or employees; (ix) changes in consumer spending; (x) unexpected outcomes of existing or reinvigorated litigation involving the Company; and (xi) changes in accounting policies and practices. All statements in this discharge, including forward-looking statements, speak solitary as of the date they are made, and Heartland undertakes no obligation to update any statement in set fire to of new information or future events.
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