Hills Bancorporation filings document an Iowa-incorporated banking issuer's governance, operating results, capital structure and public-company reporting controls. Its 8-K reports include unaudited earnings and capital metrics, Regulation FD shareholder disclosures, independent registered public accounting firm changes, board retirements, annual-meeting voting results and common-stock actions.
The company's proxy materials cover director elections, advisory executive-compensation votes, auditor appointment matters and executive-compensation disclosures. Its annual-report filing notices address Form 10-K timing, accounting and disclosure evaluations, financial-statement audit matters, regulatory-capital presentation, and ESOP-related equity considerations.
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.
Hills Bancorporation approved a two-for-one stock split of its issued and outstanding common shares. Each shareholder of record as of the close of business on June 1, 2026 will receive one additional share for every share held, with distribution on June 8, 2026.
Following the split, authorized common shares will increase from 20,000,000 to 40,000,000, all with no par value. All new shares will be issued in book-entry form through Computershare, and outstanding stock options and restricted stock awards will be proportionally adjusted so share counts double and option exercise prices are halved.
Hills Bancorporation held its annual shareholder meeting on April 20, 2026, where investors voted on directors, executive pay, and the audit firm.
Shareholders elected four directors, each to serve until the 2029 annual meeting, approved the non-binding advisory vote on executive compensation, and supported the non-binding appointment of Crowe, LLP as the independent registered public accounting firm.
Hills Bancorporation reported changes to its Board of Directors under its existing director retirement policy. The policy calls for directors to retire as of the date of the annual meeting following their attainment of age 72. On April 20, 2026, three long-serving directors — Michael E. Hodge, Ann Marie Rhodes, and Thomas R. Wiele — retired from the Board in accordance with this policy. The filing formalizes these routine governance changes and confirms the company’s adherence to its established board succession framework.
Hills Bancorporation reported unaudited net income of $21.9 million for the quarter ended March 31, 2026, giving shareholders an early look at its quarterly performance.
The company highlighted an unaudited capital ratio of 11.7%, calculated as total stockholders’ equity minus the maximum cash obligation related to ESOP shares, divided by total assets. This is a management-defined, non-regulatory measure.
Hills Bancorporation also noted that its primary regulatory capital metric is the Community Bank Leverage Ratio (CBLR), which was approximately 13.15% as of March 31, 2026, indicating a solid buffer above typical minimum regulatory capital levels.
Hills Bancorporation director Roger K. Smith filed an initial ownership report showing he directly holds 100 shares of the company’s common stock. This Form 3 filing records his starting stake as a director and does not report any recent purchases or sales.
Hills Bancorporation executive Nelson Kenza Bemis, who serves as SVP and General Counsel, filed an initial Form 3 detailing his ownership of the company’s common stock. The filing shows indirect ownership of 2,100 shares held through a bank ESOP and 681 shares held with his spouse.
In addition, he directly owns 3,341.504 shares of common stock. The filing is a baseline disclosure of his beneficial holdings rather than a report of recent share purchases or sales.