SOURCE: Heartland Bancshares, Inc.

August 28, 2007 10:43 ET

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

FRANKLIN, IN--(Marketwire - August 28, 2007) - Heartland Bancshares, Inc. IN (OTCBB: HRTB) announced that it declared a cash dividend of $.05 per common share payable on September 28, 2007 to shareholders of record on September 10, 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. 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 $205,870,000 and its total equity was $15,342,000 as of June 30, 2007, and its net income was $556,000 or $.38 per diluted share for the six months ended June 30, 2007.

Contact Information

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