The Bank Slate


Heartland in Denver gives update on charter consolidation

Heartland Financial USA in Denver is close to completing a large-scale charter consolidation.

The $20.2 billion-asset company said in a press release that it consolidated Bank of Blue Valley and First Bank & Trust into its HTLF Bank during the second quarter. Rocky Mountain Bank was recently rolled up.

Nine banks have been consolidated, with the last two set for October.

Heartland said it will cost $19 million to $20 million, including $6 million to $7 million over the rest of this year. The effort should save the company about $20 million annually.

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