Welcome to our dedicated page for Hills Bancorpf SEC filings (Ticker: HBIA), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Hills Bancorporation (HILLS BANCORP OF IOWA) files a range of reports with the U.S. Securities and Exchange Commission, including annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K, and notifications of late filing on Form 12b-25. This page brings those filings together so you can review the company’s regulatory history and financial reporting disclosures in one place.
Key filings for Hills Bancorporation include 8-K reports that describe changes in the company’s independent registered public accounting firm. One such filing explains how the Audit Committee invited several national accounting firms to participate in a competitive process, decided to dismiss the existing auditor after completing a specified year’s audit, and approved the engagement of another firm, subject to client acceptance procedures and an engagement letter. The same filing discusses reportable events related to material weaknesses in internal control over financial reporting.
Hills Bancorporation’s filings also address internal control issues and late filing matters. A Form 12b-25 explains that an earlier draft of a Form 10-Q was inadvertently filed on EDGAR before the independent public accountants had completed their review, and that an amendment would be filed to correct the deficiencies. References in the company’s 10-K and 10-Q reports describe material weaknesses in internal control over financial reporting, including management review of period-end reporting, segregation of duties for manual journal entries, and procedures for identifying and disclosing related party transactions.
On Stock Titan, these filings can be viewed alongside AI-powered summaries that highlight the main points of each document. This includes explanations of 10-K and 10-Q disclosures, 8-K material events, and any reportable events involving internal control or auditor changes, helping readers navigate the technical language of SEC reports more efficiently.
Hills Bancorporation is holding its Annual Meeting of Shareholders on April 20, 2026 in Hills, Iowa. Shareholders of record as of March 2, 2026 will vote on electing directors, an advisory “Say on Pay” resolution, and an advisory vote on the appointment of Crowe, LLP as independent auditor for 2026.
The board is nominating four directors, including new nominee Roger K. Smith, while Directors Hodge, Rhodes and Wiele will retire after reaching the mandatory age. The proxy describes a largely independent board, active risk oversight, and a pay-for-performance philosophy. For 2025, the disclosed CEO pay ratio is 14.26 to 1, and the prior say‑on‑pay vote received 91% support.
Hills Bancorporation, an Iowa-based bank holding company, reports a loan book heavily concentrated in real estate, which made up 86.39% of loans as of December 31, 2025. Mortgage loans totaled $2.741 billion, or 76.90% of the loan portfolio, spanning residential, commercial, multi-family and farmland credits.
Construction loans were $338.10 million, or 9.48% of loans, while commercial and financial loans were $295.62 million (8.29%) and agricultural loans $118.92 million (3.34%). Consumer and tax-exempt public loans remain small portions. Average assets were $4.57 billion in 2025, and investment securities of $955.58 million represented 20.56% of total assets.
The bank operates across Johnson, Linn, Washington and Iowa counties, competing with large banks and credit unions. It emphasizes strong capital and liquidity, reporting a Community Bank Leverage Ratio of 12.94%, above the 9.00% well-capitalized threshold, while noting risks from inflation, interest rates, liquidity, agriculture, climate change and regulation.
Hills Bancorporation notified the SEC it cannot timely file its Annual Report on Form 10-K for the fiscal year ended December 31, 2025. The company says it is evaluating complex accounting and disclosure matters and needs additional time for internal documentation and for its independent auditor, Forvis Mazars, LLP, to complete procedures and issue opinions.
Hills Bancorporation amendment to a Schedule 13G/A reports that Hills Bank and Trust Company, as Trustee of the Hills Bank and Trust Company Employee Stock Ownership Plan and Trust beneficially owned 668,407 shares of Common Stock, representing 7.6% of the class as of 12/31/2025. The filing states the shares are held on behalf of ESOP participants and describes how dividends on allocated and unallocated shares are handled.
Hills Bancorporation reported that its Audit Committee has decided to change independent auditors following completion of the 2025 audit. Forvis Mazars, LLP will be dismissed as the company’s independent registered public accounting firm after it finishes auditing the consolidated financial statements for the year ending December 31, 2025. On January 5, 2026, the Audit Committee approved the engagement of Crowe LLP to audit the company’s consolidated financial statements for the fiscal year ending December 31, 2026, subject to Crowe’s standard client acceptance procedures and an engagement letter.
The company noted that Forvis Mazars’ audit reports for the fiscal years ended December 31, 2024 and December 31, 2023 contained no adverse opinions, disclaimers, or qualifications. It also stated there were no disagreements with Forvis Mazars on accounting, disclosure, or audit scope matters during those periods or the subsequent interim period. Previously disclosed material weaknesses in internal control over financial reporting related to period-end review controls, manual journal entry processes, and related party transaction controls were identified as reportable events and discussed with Forvis Mazars, and the firm has been authorized to respond fully to Crowe about these matters.
Hills Bancorporation filed an Amendment No. 1 to its quarterly report to replace an earlier draft inadvertently submitted and to update conclusions on disclosure controls and internal control over financial reporting. The company implemented a new procedure to confirm its independent auditor’s review is complete before future quarterly filings and amended Part I, Item 4 accordingly.
Core results remained intact. For Q3 2025, net interest income was $38.5 million with net income of $12.9 million and diluted EPS of $1.46. For the first nine months, net income was $46.0 million. The credit loss expense was $6.0 million in Q3. Total assets were $4.65 billion as of September 30, 2025. Deposits totaled $3.38 billion. Accumulated other comprehensive loss improved to $(9.2) million, aided by unrealized gains in available-for-sale securities recognized in other comprehensive income.
Shares outstanding were 8,795,437 as of October 31, 2025. The amendment states no other changes to the original report’s financial or other information beyond the controls and certification updates.
Hills Bancorporation filed a Form 12b-25 (NT 10-Q) related to its Quarterly Report for the period ended September 30, 2025. The company states it inadvertently uploaded an earlier draft rather than management’s final version, and its independent public accountants, Forvis Mazars, LLP, had not completed their review within applicable professional standards at the time of filing.
Hills Bancorporation says the previously filed 10‑Q was incomplete and it will file an amendment to correct these deficiencies, consistent with the rule that permits filing on or before the fifth calendar day following the prescribed due date.
Hills Bancorporation reported Q3 2025 results showing stronger profitability and capital. Net interest income was $38.51 million for the quarter (up from $29.43 million a year ago), and quarterly net income was $12.91 million with diluted EPS of $1.46.
For the nine months, net income reached $45.99 million and diluted EPS was $5.16. Loans, net, were $3.50 billion and deposits totaled $3.38 billion as of September 30, 2025. Total assets were $4.65 billion. Stockholders’ equity increased to $584.38 million, helped by an improvement in accumulated other comprehensive loss to $(9.20) million. Shares outstanding were 8,849,709 as of October 31, 2025.
Credit trends were mixed: credit loss expense rose to $5.98 million in Q3 and the company recorded a $4.29 million loss on the sale of investment securities. Funding costs stabilized, with total interest expense of $21.33 million in Q3, while other short-term borrowings were $588.74 million and Federal Home Loan Bank borrowings were $76.58 million at quarter-end.