HTLF - Heartland Financial closes Johnson Financial's Arizona Branches acquisition

Heartland Financial's ([[HTLF]] -1.7%) wholly-owned subsidiary Arizona Bank & Trust ((ABT)) closed its acquisition of Johnson Bank's Arizona branches at the close of business on Dec. 4, 2020.Johnson Bank is a wholly-owned subsidiary of Wisconsin-based Johnson Financial.On transaction close, AB&T acquired Johnson Bank’s four Arizona banking centers, gross loans of ~$150M and certain other assets, and assumed substantially all of the branch deposits of ~$400M.As of Sep.30, 2020, AB&T had assets of ~$1B, gross loans of $679M and deposits of $886M.AB&T full-service banking centers will expand to ten from six in the East Valley of the Phoenix market.Post its earlier and current acquisitions, Heartland will have total assets of ~$18B with 140+ full-service banking locations operating in 12 states.

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Heartland Financial closes Johnson Financial's Arizona Branches acquisition