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Acquisitive Heartland Financial has 'active' deal talks in several states

Chairman and CEO Lynn Fuller of ($8.20billion) said July 25 that the Dubuque, Iowa-based company has"active" deal talks at "various levels" in Minnesota,Illinois, Kansas, New Mexico, Arizona, Colorado and California.

Fuller said that Heartland passed on deals in Iowa andWisconsin that were not good fits. There is nothing in Montana, he added.

"So really our challenge now is to prioritize the opportunitiesthat we have. I said in the past that we'd like to do fill-ins, that's a highpriority and get our banks to $1 billion plus in each of the states we operatein," Fuller said during a conference call to discuss second-quarterresults, according to a transcript. "And we've got some smaller banks thatwe really would like to have additions to, but it's all going to get down toprice and culture and which of the active discussions we have that we can getto the finish line."

Heartland has so far closedone deal in 2016, and four in 2015, per SNL data.

During the call, Fuller also answered a question posed by ananalyst related to the $10billion asset threshold.

"Our risk management group is in the process ofpreparing. They have been pretty much for the second quarter," the CEOsaid. "But we think it's not real probable that we would pass through dothat 10 and be required to have all the stress testing in place until probablythe first part of 2019."

The company reported second-quarter net income available to commonstockholders of $20.9 million, or 84 cents per share, compared to $15.0 million,or 72 cents per share, for the year-ago period.