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.
Hills Bancorporation reported that its Audit Committee approved the engagement of Crowe LLP as the company’s independent registered public accounting firm for the fiscal year ending December 31, 2026. The company states that, during the past two fiscal years and through April 2, 2026, it did not consult Crowe on accounting principles, audit opinions, or financial reporting decisions, and there were no matters involving disagreements or reportable events under Regulation S‑K.
Hills Bancorporation senior executive Brian R. Globokar received additional common shares through an employee stock purchase plan. On this Form 4, he acquired 30.6748 shares of common stock at $73.35 per share under the company’s plan on April 1, 2026, bringing his direct holdings to 3,775.0298 shares.
Hills Bancorporation senior vice president and chief financial officer Anthony V. Roetlin acquired 30.6748 shares of common stock on April 1, 2026 through the company’s employee stock purchase plan at $73.35 per share. Following this routine compensation-related acquisition, he directly holds 3,410.1074 common shares.
HILLS BANCORPORATION President and CEO Lisa A. Shileny acquired additional company stock through an employee program. On April 1, 2026, she received 30.6748 shares of Common Stock at $73.35 per share under the company’s employee stock purchase plan. Following this grant, she directly holds 9,305.5281 Common Stock shares.
This was a compensation-related acquisition rather than an open-market purchase, reflecting ongoing participation in the company’s employee stock purchase plan rather than a discretionary trade.
FINER TIMOTHY D reported acquisition or exercise transactions in this Form 4 filing.
Hills Bancorporation senior vice president Timothy D. Finer reported receiving a grant of 400 shares of common stock as time-based restricted stock. The award is part of his compensation and vests over eight years beginning January 13, 2026. Following this grant, he directly holds 9,300 common shares.
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.