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Hills Bancorporation reported higher earnings for the six months ended June 30, 2026. Net income was $47,955k, compared with $33,085k a year earlier, and diluted earnings per share were $2.74 versus $1.85. For the second quarter, net income was $26,012k and diluted EPS $1.49.
Net interest income for the first half rose to $85,874k from $71,201k, while credit loss accounting contributed a $2,524k benefit versus a $5,007k expense in the prior-year period. Noninterest income increased to $19,465k, including a $1,693k gain on sale of Visa Class B shares, while noninterest expenses grew to $47,156k.
At June 30, 2026, total assets were $4,796,454k, with loans of $3,648,984k and an allowance for credit losses on loans of $54,921k. Deposits totaled $3,517,477k, and Federal Home Loan Bank borrowings increased to $323,833k. The available-for-sale securities portfolio had a fair value of $1,012,232k and unrealized net-of-tax losses in accumulated other comprehensive loss of $7,909k. Total stockholders’ equity, net of the ESOP-related obligation, was $568,899k. A two-for-one stock split declared in April 2026 doubled common shares outstanding in June, and all share and per-share data have been restated.
HILLS BANCORPORATION President and CEO Lisa A. Shileny reported an acquisition of company stock through an employee plan. On July 2, 2026, she received 57.1501 shares of Common Stock at $39.37 per share under the company’s employees stock purchase plan.
After this grant-type acquisition, her direct holdings increased to 18,668.2063 shares of HILLS BANCORPORATION common stock. This transaction is classified as a grant or award rather than an open-market purchase.
HILLS BANCORPORATION senior executive receives small stock grant. SVP and Chief Financial Officer Anthony V. Roetlin acquired 57.1501 shares of Common Stock on July 2, 2026 at a price of $39.37 per share. The shares were acquired under the company’s employee stock purchase plan, bringing his direct holdings to 6,877.3649 shares.
HILLS BANCORPORATION senior vice president Brian R. Globokar acquired additional common stock through an employee stock purchase plan. On July 2, 2026 he received 57.1501 shares of common stock at a price of $39.37 per share. Following this routine compensation-related grant, he directly owns a total of 7,607.2097 common shares.
Hills Bancorporation reported a routine insider share acquisition by its SVP and General Counsel, Kenza Bemis. Bemis acquired 50.4064 shares of Common Stock at $39.37 per share in a transaction classified as a grant or award. According to the footnote, the shares were acquired under the company's employee stock purchase plan on July 1, 2026. Following this plan-related acquisition, Bemis directly holds a total of 6,733.4144 shares of Hills Bancorporation Common Stock.
Hills Bancorporation is implementing a two-for-one split of its common stock by amending its Restated Articles of Incorporation. The amendment increases authorized common shares from 20,000,000 to 40,000,000, all with no par value.
Shareholders of record as of the close of business on June 1, 2026 will receive one additional share for each share held, with the new shares payable on June 8, 2026. Articles of Amendment were filed with the Iowa Secretary of State on May 15, 2026 to effect this change.
Hills Bancorporation updated its corporate bylaws to change how its shares are held and recorded. On May 12, 2026, the board approved an amendment adding a new section to Article VI that addresses issuance of paper stock certificates.
The change makes uncertificated book-entry registration the default form of share ownership, with paper certificates still governed by the new bylaw section. The board also authorized a restatement of the bylaws as amended, and the full amendment text is provided in Exhibit 3.1.
Hills Bancorporation, through its subsidiary Hills Bank and Trust Company, agreed to purchase approximately 19.2 acres at 200 and 500 ACT Drive in Iowa City for $20,700,000. The bank plans to use the property to consolidate operational teams and support long-term growth, while its headquarters will remain in Hills, Iowa.
The deal is documented in an Agreement of Purchase and Sale dated May 11, 2026 and is subject to standard real estate conditions, including any required regulatory approvals. Closing is scheduled for the first quarter of 2027, and the company highlights related forward-looking statement risks.
HILLS BANCORPORATION director Roger K. Smith received a grant of stock options as equity compensation. He was awarded options on 1,371 shares of common stock at an exercise price of $87.50 per share. These options become exercisable on May 12, 2031 and expire on May 12, 2036.
Hills Bancorporation reported sharply higher profitability for the quarter ended March 31, 2026. Net income rose to $21.9 million from $14.4 million a year earlier, and diluted earnings per share increased to $2.50 from $1.61, driven by stronger net interest income and a credit loss benefit.
Total assets reached $4.67 billion, with loans at $3.52 billion and deposits at $3.60 billion. Net interest income improved to $41.8 million, while credit loss expense swung to a $1.1 million benefit. Comprehensive income was steady at $15.0 million as a $6.9 million unrealized loss on securities reduced other comprehensive income.
Stockholders’ equity was $604.1 million before ESOP adjustments. The board approved a 2‑for‑1 stock split in April 2026 for shareholders of record on June 1, 2026, with distribution expected on June 8, 2026; authorized common shares will increase from 20 million to 40 million.