Market Overview

Rocky Mountain Bank Extends Consumer and Employee Relief Programs across Montana

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Billings, MT, May 12, 2020 (GLOBE NEWSWIRE) --

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Bank committed to protecting well-being of its employees, customers and communities

Rocky Mountain Bank, a subsidiary of Heartland Financial USA, Inc., announced the extension of relief and support programs for employees and consumers facing challenges due to the economic impacts of COVID-19. The announcement follows several weeks of action by the Montana-based bank to help guide customers and the community through the crisis, including $100,000 donated to local crisis relief activities.

"We stand with our employees and customers during this challenging time and are pleased to continue providing them with relief," said Tod Petersen, President and CEO of Rocky Mountain Bank

"We recognize that our customers may need access to funds to take care of unexpected expenses caused by the current situation," Petersen said.  "And they don't need to be concerned about late fees on loans or monthly account maintenance fees."

Extended Consumer Relief

The following consumer relief actions have been extended through May 31, 2020:  

  • Monthly maintenance fees associated with consumer checking and savings accounts will be waived
  • Late fees on consumer loans will be waived.
  • CD early redemption fees will not be assessed (customers must contact us to redeem to any CDs)
  • Foreign ATM fees will be waived.  Customers using other banks' ATMs will not be assessed fees.  Other banks and ATM operators may charge a fee.  Balance inquiry, withdrawal and international fees may apply.

Keeping Employees Safe

Our employees continue to take care of customers who are navigating the financial impacts of COVID-19.  And we're taking care of them with programs such as pandemic time off, premium pay for customer-facing retail employees, and covering all COVID-19 testing and treatment costs for Wellmark health plan participants.

We have extended our pandemic time off program through May 31, 2020, which pays all employees at 100 percent.  Employees who need time off because of illness, to care for a sick family member or to provide child care due to school or day care closings will be paid at their full rate.

Continuing to deliver excellent service to our customers and communities also means taking steps to protect the health and safety of our employees.  We:

  • restricted business travel and canceled all employee and customer in-person events
  • enabled many of our employees to work from home
  • closed bank lobbies, implemented drive thru only, and deep cleaned our locations
  • engage with our employees, providing information and resources through enriched communications and wellness programs

Paycheck Protection Program (PPP) Loans

As of May 5, 2020, Rocky Mountain Bank has processed over 150 applications and funded over $17.5 million in PPP loans so far to Montana businesses.  These loans, which help preserve over 2,400 jobs, provide a lifeline to our business customers.  The bank continues to process applications and is actively participating in the second wave of the program.

Supporting Our Neighbors in Need

Last month, Rocky Mountain Bank contributed $100,000 to help fund emergency meals, shelter services, and hardship support services in Montana that continue to see increased demand due to the recent crisis.

"We need to work together to address the evolving impacts of this crisis," said Petersen.  "We are honored to provide support frontline organizations that are helping those in need."

Rocky Mountain Bank was proud to make a total of $100,000 in contributions split between the following organizations:

  • Billings Food Bank
  • HRDC, which operates the Gallatin Valley Food Bank, Big Sky Community Food Bank, and Headwaters Area Food Bank
  • Flathead Valley Food Bank
  • Family Promise of Gallatin Valley

Continued Customer Relief

In addition to the consumer relief actions we've extended through May, the following customer relief programs remain in place through July 1, 2020:

  • No payment will be required on consumer credit cards
  • Consumers may elect to defer all payments on consumer installment loans without penalty
  • Small business customers may choose to modify their loans and make interest-only payments

Bank Lobbies Begin to Reopen

Rocky Mountain Bank resumed access to five of its nine banking center lobbies on May 11, 2020.   The bank continues to offer drive-up teller services at all its locations. Additionally, customers are encouraged to use mobile banking, online banking and telephone banking services. The bank's website is regularly updated with any changes to operating hours for lobby and drive-up services.

About
About Rocky Mountain Bank Rocky Mountain Bank, a subsidiary of Heartland Financial USA, Inc., (NASDAQ:HTLF), is a state-chartered, community-invested bank with more than $532 million in assets. Headquartered in Billings, Montana, the bank also has offices in Bigfork, Bozeman, Kalispell, Plains, Plentywood, Stevensville and Whitehall. With a focus on business and personal lending, and deposit services, they are dedicated to making Great Things Happen! for their customers. For more information, visit www.rmbank.com or call 406.655.5112. Rocky Mountain Bank is a member of the FDIC and an Equal Housing Lender. About Heartland Financial USA, Inc. Heartland Financial USA, Inc. is a diversified financial services company with assets of $13.2 billion. The company provides banking, mortgage, private client, investment and insurance services to individuals and businesses. Heartland currently has 114 banking locations serving 83 communities in Iowa, Illinois, Wisconsin, New Mexico, Arizona, Montana, Colorado, Minnesota, Kansas, Missouri, Texas and California. Additional information about Heartland Financial USA, Inc. is available at www.htlf.com. Safe Harbor Statement This release, and future oral and written statements of Heartland and its management, may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 about Heartland's financial condition, results of operations, plans, objectives, future performance and business. Although these forward-looking statements are based upon the beliefs, expectations and assumptions of Heartland's management, there are a number of factors, many of which are beyond the ability of management to control or predict, that could cause actual results to differ materially from those in its forward-looking statements. These factors, which are detailed in the risk factors included in Heartland's Annual Report on Form 10-K filed with the Securities and Exchange Commission, include, among others: (i) the strength of the local and national economy; (ii) the economic impact of past and any future terrorist threats and attacks and any acts of war, (iii) changes in state and federal laws, regulations and governmental policies concerning the Company's general business; (iv) changes in interest rates and prepayment rates of the Company's assets; (v) increased competition in the financial services sector and the inability to attract new customers; (vi) changes in technology and the ability to develop and maintain secure and reliable electronic systems; (vii) the loss of key executives or employees; (viii) changes in consumer spending; (ix) unexpected results of acquisitions; (x) unexpected outcomes of existing or new litigation involving the Company; and (xi) changes in accounting policies and practices. All statements in this release, including forward-looking statements, speak only as of the date they are made, and Heartland undertakes no obligation to update any statement in light of new information or future events.

Contact Person : Dawn Oelke, Email : doelke@htlf.com

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