Heartland Financial USA, Inc. announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2017. For the quarter, the company reported total interest income was $102,068,000 against $82,777,000 a year ago. Net interest income was $92,856,000 against $75,160,000 a year ago. Income before income taxes was $35,178,000 against $27,522,000 a year ago. Net income available to common stockholders was $13,659,000 or $0.45 diluted per share against $19,146,000 or $0.74 diluted per share a year ago. Annualized return on average assets was 0.55% against 0.92% a year ago. Annualized return on average common equity (GAAP) was 5.50% against 10.48% a year ago. Annualized return on average common tangible equity (non-GAAP) was 7.60% against 13.24% a year ago. Net interest income - tax-equivalent (non-GAAP) was $96,414,000 against $78,671,000 a year ago. Adjusted income was $119,242,000 against $101,518,000 a year ago. Book value per common share (GAAP) was $33.07 as on December 31, 2017 against $28.31 as on December 31, 2016. Tangible book value per common share (non-GAAP) was $23.99 as on December 31, 2017 against $22.55 as on December 31, 2016.

For the year, the company reported net interest income of $330,308,000 against $294,666,000 a year ago. Income before income taxes was $119,092,000 against $116,905,000 a year ago. Net income available to common stockholders was $75,226,000 or $2.65 diluted per share against $80,108,000 or $3.22 diluted per share a year ago. Total Interest Income was $363,658,000 against $326,479,000 a year ago. Annualized return on average assets was 0.83% against 0.98% a year ago. Annualized return on average common equity (GAAP) was 8.63% against 11.80% a year ago. Annualized return on average common tangible equity (non-GAAP) was 11.45% against 15.15% a year ago. Net interest income - tax-equivalent (non-GAAP) was $345,447,000 against $307,585,000 a year ago. Adjusted income was $439,216,000 against $409,846,000 a year ago.

The company announced Net Charge-Offs for the Fourth Quarter of 2017. Net charge-offs for the fourth quarter of 2017 were $4.5 million, primarily attributable to $3.1 million of charge-offs related to 2 previously reserved agribusiness and commercial loan relationships at Dubuque Bank & Trust and New Mexico Bank & Trust, respectively.