SOURCE: Heartland Bancshares, Inc.

March 08, 2007 11:10 ET

Heartland Bancshares, Inc. Announces Cash Dividend of $.05 per Share

FRANKLIN, IN -- (MARKET WIRE) -- March 8, 2007 -- Heartland Bancshares, Inc. IN (OTCBB: HRTB) announced that it declared a cash dividend of $.05 per common share payable on March 30, 2007 to shareholders of record on March 12, 2007.

The Company's President Steve Bechman commented, "We are pleased to continue to return a portion of our earnings to our shareholders in the form of cash dividends. This dividend represents approximately 20% of net income from the fourth quarter of 2006. We believe that our current cash dividends and the stock repurchase plan that was initiated in 2006 are tools for managing our equity and increasing shareholder value."

Heartland Community Bank is the wholly owned subsidiary of Heartland Bancshares, Inc., and began banking operations on December 17, 1997 in Johnson County, Indiana on the southern edge of the Indianapolis metro area. As previously reported, Heartland's total assets were $204,707,000 and its total equity was $15,286,000 as of December 31, 2006, and its net income was $1,365,000 or $.95 per diluted share for the year ended December 31, 2006.

Contact Information

  • Contact:
    Steve Bechman
    President
    or Jeff Joyce
    CFO
    (317) 738-3915