EDINA, Minn., Aug. 10, 2021 (GLOBE NEWSWIRE) -- Minnesota Bank & Trust, a member of Heartland Financial USA, Inc. (NASDAQ: HTLF) that operates under the brand name HTLF, continues to display consistent strength in the payments space. Nilson Report ranked HTLF among the top U.S. commercial credit card issuers for the sixth year in a row.
In 2020, HTLF’s commercial credit card program ranked among the top 40 purchasing card programs with over $548 million in purchase volume, a 21 percent increase from the previous year and the fourth highest growth overall for purchasing cards.
Nilson Report’s ranking reflects HTLF’s innovative approach to digital technology products and providing excellent customer experiences. HTLF invested in a team of industry experts to help educate clients on the value of Electronic Accounts Payable (EAP), increasing their purchasing portfolio by 21 percent year over year.
“Now more than ever Minnesota Bank & Trust understands the importance of getting back to business. With a strong payments strategy that includes electronic payments, companies can reduce operating costs, increase fraud protection and provide more streamlined payment processes,” said Stephen Bishop, Minnesota Bank & Trust’s President and CEO.
“Last year, we introduced our Integrated Payables solution, which is one platform to process check, ACH and credit card payments. This year we are excited to offer new solutions such as contactless cards and Visa Commercial Pay. With the electronic payment method rapidly becoming more common, we are helping clients better manage cash flow, negotiate favorable terms, protect against fraud and have a more effective payments process overall.”
2021 has been a significant year for HTLF and its banks. The company rebranded in the spring to reinforce the strength, insight and growth they bring to their customers, communities, employees and investors. Additionally, HTLF was recognized by Forbes as one of the best banks in America for the fifth year in a row.
For 50 years, Nilson Report has been a respected source of payments industry news and market insight. Nilson analyzes and reports on the performance of hundreds of credit, debit and prepaid card issuers, transaction acquirers and technology vendors with an unbiased perspective.
About Minnesota Bank & Trust
Minnesota Bank & Trust (MBT), a subsidiary of Heartland Financial USA, Inc. operating under the brand name HTLF, is a state-chartered bank with approximately $956 million in assets. MBT is located in Edina and Minnetonka and specializes in business lending and deposit services while providing a wide variety of personal credit, private client services and deposit services along with complete electronic banking programs. Minnesota Bank & Trust is a Member of the FDIC and an Equal Housing Lender. Visit www.mnbankandtrust.com for more information.
About Heartland Financial USA, Inc.
Heartland Financial USA, Inc., operating under the brand name HTLF, is a financial services company with assets of approximately $18.4 billion. HTLF’s banks serve communities in Arizona, California, Colorado, Illinois, Iowa, Kansas, Minnesota, Missouri, Montana, New Mexico, Texas and Wisconsin. HTLF is committed to its core commercial business, supported by a strong retail operation, and provides a diversified line of financial services including treasury management, residential mortgage, wealth management, investment and insurance. Additional information is available at 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:
Courtney Medick
Marketing Specialist
952.746.3374
cmedick@mnbankandtrust.com
