HBIA on OTC
HILLS BANCORPORATION
American state commercial bank, incorporated in Iowa, listed on OTC (HBIA). Summary from the record
Price unavailable
Last updated Oct 19, 2026.
Overview
- TickerHBIA on OTC1
- IndustryState Commercial Banks1
- HeadquartersHills, Iowa1
- Incorporated inIA2
- Business address131 Main St, Hills, Ia 522352
- Filer categoryAccelerated filer2
See how the biggest companies compare on our leaderboards
Hills Bancorporation (the "Company") is a holding company principally engaged, through its subsidiary bank, in the business of banking. The Company was incorporated December 12, 1982 and all operations are conducted within the state of Iowa. The Company became owner of 100% of the outstanding stock of Hills Bank and Trust Company, Hills, Iowa (“Hills Bank and Trust” or the “Bank”) as of January 23, 1984 when stockholders of Hills Bank and Trust exchanged their shares for shares of the Company. Effective July 1, 1996, the Company formed a new subsidiary, Hills Bank, which acquired for cash all the outstanding shares of a bank in Lisbon, Iowa. Effective November 17, 2000, Hills Bank was merged into the Bank. On September 20, 1996, another subsidiary, Hills Bank Kalona, acquired cash and other assets and assumed the deposits of the Kalona, Iowa office of Boatmen's Bank Iowa, N.A. Effective …3 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Fiduciary and Trust brought in 57% of the revenue HILLS BANCORPORATION broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2023 | 2024 | 2025 |
|---|---|---|---|
| Fiduciary and Trust | $13.6M | $15.3M | $17.1M |
| Deposit Account | $12.9M | $12.9M | $13.1M |
Financial statements
Every line of the income statement as filed: the last 3 fiscal years, latest first.4
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Loans, including fees | $195.7M | $179.6M | $154.7M |
| Taxable | $26.3M | $14.8M | $10.7M |
| Nontaxable | $11.3M | $7.7M | $4.7M |
| Federal funds sold | $468.0K | $1.4M | $829.0K |
| Total interest income | $233.8M | $203.4M | $170.9M |
| Deposits | $54.8M | $60.9M | $40.4M |
| Other short-term borrowings | $13.2M | $16.6M | $11.3M |
| FHLB borrowings | $15.6M | $10.2M | $5.3M |
| Total interest expense | $83.6M | $87.6M | $57.0M |
| Net interest income | $150.2M | $115.8M | $113.9M |
| Credit loss expense (Note 3) | $12.3M | $2.2M | $15.6M |
| Net interest income after credit loss expense | $137.9M | $113.6M | $98.3M |
| Net gain on sale of loans | $1.6M | $2.3M | $1.5M |
| Other noninterest income | $2.1M | $1.5M | $541.0K |
| Loss on sale of investment securities | -$9.6M | -$5.2M | $0 |
| Total other income | $24.3M | $26.8M | $28.6M |
| Salaries and employee benefits | $46.2M | $44.5M | $44.9M |
| Occupancy | $4.7M | $4.3M | $4.4M |
| Furniture, equipment and software | $7.5M | $6.8M | $6.8M |
| Loss on disposal of property and equipment | $1.1M | $0 | $0 |
| Office supplies and postage | $2.2M | $2.0M | $1.9M |
| Advertising and business development | $3.1M | $3.0M | $2.9M |
| Outside services | $16.5M | $14.0M | $13.8M |
| FDIC insurance assessment | $2.0M | $1.9M | $1.8M |
| Other noninterest expenses | $3.3M | $3.7M | $1.9M |
| Total other expenses | $86.5M | $80.2M | $78.4M |
| Income before income taxes | $75.7M | $60.2M | $48.5M |
| Income taxes (Note 11) | $15.2M | $12.6M | $10.3M |
| Net income | $60.5M | $47.6M | $38.2M |
| Basic (in dollars per share) | $6.82 | $5.26 | $4.16 |
| Diluted (in dollars per share) | $6.81 | $5.26 | $4.16 |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.4
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $42.1M | $123.4M | ||
| Investment securities available for sale at fair value (amortized cost 2025 $957,295; 2024 $979,855) (Notes 1, 2 and 14) | $955.6M | $944.1M | ||
| Stock of Federal Home Loan Bank | $32.1M | $28.0M | ||
| Loans held for sale | $8.0M | $4.0M | ||
| Loans, net of allowance for credit losses (2025 $58,204; 2024 $50,940) (Notes 1, 3, and 13) | $3.5B | $3.4B | ||
| Property and equipment, net (Note 4) | $36.0M | $35.9M | ||
| Tax credit real estate | $8.2M | $8.9M | ||
| Accrued interest receivable | $23.4M | $21.4M | ||
| Deferred income taxes, net (Notes 1 and 11) | $18.5M | $21.1M | ||
| Goodwill | $2.5M | $2.5M | ||
| Other assets | $14.6M | $11.4M | ||
| Total Assets | $4.6B | $4.6B | ||
| Noninterest-bearing deposits | $596.2M | $581.0M | ||
| Interest-bearing deposits (Note 6) | $2.8B | $2.8B | ||
| Total deposits | $3.4B | $3.3B | ||
| Other short-term borrowings, including Bank Term Funding Program and FHLB daily reset advances (Note 7) | $586.9M | $546.6M | ||
| Federal Home Loan Bank borrowings (Note 8) | $64.3M | $127.0M | ||
| Accrued interest payable | $3.5M | $9.9M | ||
| Allowance for credit losses on off-balance sheet credit exposures (Note 3) | $4.5M | $2.9M | $5.1M | $4.4M |
| Other liabilities | $18.2M | $14.7M | ||
| Total Liabilities | $4.0B | $4.0B | ||
| Redeemable Common Stock Held By Employee Stock Ownership Plan (ESOP) (Note 10) | $54.5M | $48.3M | ||
| Common stock, no par value; authorized 20,000,000 shares; issued 2025 10,339,953 shares; 2024 10,346,920 shares | $0 | $0 | ||
| Paid in capital | $65.2M | $64.6M | ||
| Retained earnings | $629.1M | $578.9M | ||
| Accumulated other comprehensive loss (Note 9) | -$1.3M | -$27.3M | ||
| Treasury stock at cost (2025 1,556,890 shares; 2024 1,377,498 shares) | -$90.2M | -$75.3M | ||
| Total Stockholders' Equity | $602.7M | $540.9M | ||
| Less maximum cash obligation related to ESOP shares (Note 10) | $54.5M | $48.3M | ||
| Total Stockholders' Equity Less Maximum Cash Obligations Related To ESOP Shares | $548.2M | $492.7M | $470.3M | $428.3M |
| Total Liabilities & Stockholders' Equity | $4.6B | $4.6B | ||
| Investment securities available for sale, amortized cost | $957.3M | $979.9M | ||
| Less allowance for credit losses | $58.2M | $50.9M | $49.4M | $41.4M |
| Common stock, no par value (in dollars per share) | $0 | $0 | ||
| Common stock, authorized (in shares) | 20.0M shares | 20.0M shares | ||
| Common stock, issued (in shares) | 10.3M shares | 10.3M shares | ||
| Treasury stock at cost (in shares) | 1.6M shares | 1.4M shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $42.1M | $123.4M | ||
| Investment securities available for sale at fair value (amortized cost 2025 $957,295; 2024 $979,855) (Notes 1, 2 and 14) | $955.6M | $944.1M | ||
| Stock of Federal Home Loan Bank | $32.1M | $28.0M | ||
| Loans held for sale | $8.0M | $4.0M | ||
| Loans, net of allowance for credit losses (2025 $58,204; 2024 $50,940) (Notes 1, 3, and 13) | $3.5B | $3.4B | ||
| Property and equipment, net (Note 4) | $36.0M | $35.9M | ||
| Tax credit real estate | $8.2M | $8.9M | ||
| Accrued interest receivable | $23.4M | $21.4M | ||
| Deferred income taxes, net (Notes 1 and 11) | $18.5M | $21.1M | ||
| Goodwill | $2.5M | $2.5M | ||
| Other assets | $14.6M | $11.4M | ||
| Total Assets | $4.6B | $4.6B | ||
| Noninterest-bearing deposits | $596.2M | $581.0M | ||
| Interest-bearing deposits (Note 6) | $2.8B | $2.8B | ||
| Total deposits | $3.4B | $3.3B | ||
| Other short-term borrowings, including Bank Term Funding Program and FHLB daily reset advances (Note 7) | $586.9M | $546.6M | ||
| Federal Home Loan Bank borrowings (Note 8) | $64.3M | $127.0M | ||
| Accrued interest payable | $3.5M | $9.9M | ||
| Allowance for credit losses on off-balance sheet credit exposures (Note 3) | $4.5M | $2.9M | $5.1M | $4.4M |
| Other liabilities | $18.2M | $14.7M | ||
| Total Liabilities | $4.0B | $4.0B | ||
| Redeemable Common Stock Held By Employee Stock Ownership Plan (ESOP) (Note 10) | $54.5M | $48.3M | ||
| Common stock, no par value; authorized 20,000,000 shares; issued 2025 10,339,953 shares; 2024 10,346,920 shares | $0 | $0 | ||
| Paid in capital | $65.2M | $64.6M | ||
| Retained earnings | $629.1M | $578.9M | ||
| Accumulated other comprehensive loss (Note 9) | -$1.3M | -$27.3M | ||
| Treasury stock at cost (2025 1,556,890 shares; 2024 1,377,498 shares) | -$90.2M | -$75.3M | ||
| Total Stockholders' Equity | $602.7M | $540.9M | ||
| Less maximum cash obligation related to ESOP shares (Note 10) | $54.5M | $48.3M | ||
| Total Stockholders' Equity Less Maximum Cash Obligations Related To ESOP Shares | $548.2M | $492.7M | $470.3M | $428.3M |
| Total Liabilities & Stockholders' Equity | $4.6B | $4.6B | ||
| Investment securities available for sale, amortized cost | $957.3M | $979.9M | ||
| Less allowance for credit losses | $58.2M | $50.9M | $49.4M | $41.4M |
| Common stock, no par value (in dollars per share) | $0 | $0 | ||
| Common stock, authorized (in shares) | 20.0M shares | 20.0M shares | ||
| Common stock, issued (in shares) | 10.3M shares | 10.3M shares | ||
| Treasury stock at cost (in shares) | 1.6M shares | 1.4M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.4
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net income | $60.5M | $47.6M | $38.2M |
| Depreciation | $2.4M | $2.2M | $2.3M |
| Credit loss expense | $12.3M | $2.2M | $15.6M |
| Loss on sale of investment securities available for sale | $9.6M | $5.2M | $0 |
| Share-based compensation | $36.0K | $23.0K | $25.0K |
| Compensation expensed through issuance of common stock | $1.7M | $1.4M | $1.6M |
| Forfeiture of common stock | -$794.0K | -$324.0K | -$564.0K |
| Provision for deferred income taxes | -$2.5M | $176.0K | -$1.9M |
| Purchase of state tax credits | -$2.9M | $0 | $0 |
| Net (gain) loss on sale of other real estate owned and other repossessed assets | $313.0K | -$122.0K | -$154.0K |
| Equity in undistributed income of subsidiary | $449.0K | $0 | $0 |
| Net loss on disposal of property | $1.1M | $616.0K | $0 |
| (Increase) in accrued interest receivable | -$2.0M | -$1.6M | -$4.0M |
| Net accretion of discount on investment securities | -$3.2M | -$944.0K | -$480.0K |
| (Increase) in other assets | -$4.0M | -$851.0K | -$2.6M |
| Amortization of operating lease right of use assets | $266.0K | $258.0K | $292.0K |
| Amortization of tax credit real estate investments | $2.6M | $0 | $0 |
| (Increase) Decrease in accrued interest and other liabilities | -$2.9M | $1.6M | $4.8M |
| Loans originated for sale | -$181.7M | -$221.9M | -$152.0M |
| Proceeds on sales of loans | $179.3M | $222.3M | $153.2M |
| Net gain on sales of loans | -$1.6M | -$2.3M | -$1.5M |
| Net cash and cash equivalents provided by operating activities | $68.8M | $55.5M | $52.8M |
| Proceeds from maturities of investment securities available for sale | $167.3M | $243.7M | $116.1M |
| Proceeds from sale of investment securities available for sale | $99.0M | $129.8M | $509.0K |
| Purchases of investment securities available for sale | -$250.2M | -$542.8M | -$100.6M |
| Proceeds from sale of stock of Federal Home Loan Bank | $61.3M | $37.3M | $13.8M |
| Purchases of stock of Federal Home Loan Bank | -$65.3M | -$49.5M | -$23.1M |
| Loans made to customers, net of collections | -$130.5M | -$3.7M | -$337.7M |
| Proceeds on sale of other real estate owned | $725.0K | $304.0K | $815.0K |
| Proceeds from sale of property and equipment | $0 | $4.0K | $0 |
| Purchases of property and equipment | -$3.7M | -$4.5M | -$3.0M |
| Investment in tax credit real estate | -$2.4M | -$2.4M | $0 |
| Net changes from tax credit real estate investment | $0 | $1.4M | $1.2M |
| Net cash and cash equivalents used in investing activities | -$123.7M | -$190.4M | -$332.0M |
| Net increase (decrease) in deposits | $21.7M | $63.4M | -$74.6M |
| Net increase in other short-term borrowings | $40.2M | $328.4M | $136.9M |
| Payments Of Short Term FHLBank Borrowings, Financing Activities | -$1.4B | $0 | $0 |
| Proceeds From Short Term FHLBank Borrowings, Financing Activities | $1.4B | $0 | $0 |
| Principal payments on long-term FHLB borrowings | -$325.6M | -$255.2M | $0 |
| Proceeds from the issuance of long-term FHLB borrowings | $305.0M | $84.9M | $256.6M |
| Borrowings from Federal Reserve Bank | $0 | $1.0K | $3.0M |
| Payments on Federal Reserve Bank borrowings | $0 | -$1.0K | -$3.0M |
| Proceeds from exercise of stock options | $120.0K | $0 | $0 |
| Excise tax paid on shares repurchased | -$111.0K | -$56.0K | $0 |
| Purchase of common stock | -$15.6M | -$12.9M | -$7.7M |
| Proceeds from the issuance of common stock through the employee stock purchase plan | $345.0K | $362.0K | $398.0K |
| Dividends paid | -$10.3M | -$10.1M | -$9.7M |
| Net cash and cash equivalents provided by (used in) financing activities | -$26.4M | $198.7M | $302.0M |
| Increase (decrease) in cash and cash equivalents | -$81.3M | $63.9M | $22.8M |
| Interest paid to depositors | $56.3M | $60.0M | $37.9M |
| Interest paid on other obligations | $33.8M | $23.8M | $14.4M |
| Income taxes paid | $6.5M | $9.9M | $12.1M |
| Increase (decrease) in maximum cash obligation related to ESOP shares | $6.2M | $3.4M | -$6.2M |
| Transfers to other real estate owned | $1.3M | $1.1M | $764.0K |
| Sale and financing of other real estate owned | $844.0K | $208.0K | $409.0K |
| Right of use assets obtained in exchange for operating lease obligations | $0 | $0 | $310.0K |
No quarter-by-quarter statement was filed.
Leadership
Who has led HILLS BANCORPORATION, and when. Pick a name to see everywhere that person has worked.
Chief executive
Chief financial officer
Chief operating officer
2010201520202025
- Chief executive officerLisa A. Shileny Apr 4, 2025 to now12
- PresidentLisa A. Shileny Apr 4, 2025 to now12
- PresidentDwight O. Siegmiller Nov 25, 2011 to Nov 25, 201113
- Chief financial officerAnthony Roetlin V. Feb 10, 2023 to now14
- Chief financial officerJoseph Andrew Schueller Apr 9, 2021 to Apr 16, 202115
- Chief operating officerLisa A. Shileny Feb 7, 2022 to now16
Board members and other officers (29)
- SVP, Dr of Trust & Wealth MgmtBrian R. Globokar Mar 31, 2025 to now17
- Sr VP, Dr of AdministrationLisa A. Shileny Feb 11, 2021 to Oct 5, 202118
- TreasurerShari J. Demaris Nov 2, 2012 to Sep 11, 202019
- Sr VP, Director Trust ServicesBradford C. Zuber Mar 11, 2011 to Jan 14, 201920
- Sr VP, Director of Retail BankMarty J. Maiers Mar 11, 2011 to Jan 20, 201721
- Sr VP, Director Comm'l BankingSteven R. Ropp Mar 11, 2011 to Feb 10, 202322
- Sr VP, Director of R/E LendingTimothy D. Finer Mar 11, 2011 to now23
- TreasurerJames G. Pratt Dec 21, 2007 to Nov 23, 201124
- Board memberLisa A. Shileny Apr 4, 2025 to now12
- Board memberKristie L. Fisher May 28, 2025 to now25
- Board memberMichael D. Jensen May 28, 2025 to now26
- Board memberThomas M. Slattery May 28, 2025 to now27
- Board memberAmy E. T. Sparks May 20, 2024 to May 20, 202428
- Board memberWilliam A. Wever Ii. May 20, 2024 to Jul 25, 202429
- Board memberCasey L. Peck Apr 22, 2019 to May 15, 201930
- Board memberJames C. Schmitt Apr 22, 2019 to now31
- Board memberKirsten H. Frey Apr 22, 2019 to May 15, 201932
- Board memberEmily A. Hughes Apr 25, 2012 to Dec 31, 201233
- Board memberThomas R. Wiele Apr 25, 2012 to Jun 22, 202234
- Board memberAnn M. Rhodes Jun 16, 2009 to Jun 30, 202235
- Board memberTheodore H. Pacha Jun 16, 2009 to Jan 20, 201736
- Board memberMichael Hodge Nov 24, 2009 to Jun 30, 202237
- Board memberRonald E. Stutsman Nov 24, 2009 to Nov 17, 201138
- Board memberJames A. Nowak Dec 30, 2008 to Jan 20, 201739
- Board memberSheldon E. Yoder Apr 18, 2007 to May 17, 202340
- Board memberJohn W. Phelan Apr 24, 2007 to Jun 22, 202241
- Board memberDonald H. Gringer Apr 21, 2006 to Jan 11, 200742
- Board memberWillis M. Bywater Apr 21, 2006 to Dec 9, 201143
- General counselKenza Bemis Nelson Apr 24, 2026 to now44
Timeline
- Apr 4, 2025New chief executive Lisa A. Shileny becomes CEO12
Filings
153 filings to the SEC since October 2021: 5 annual reports, 16 quarterly reports, 26 major events, 69 insider forms, 5 large holders, 32 other. The latest 20:
- Oct 13, 20264 EDGAR
- Oct 13, 20264 EDGAR
- Oct 6, 20264 EDGAR
- Oct 6, 20264 EDGAR
- Oct 6, 20264 EDGAR
- Oct 6, 20264 EDGAR
- Aug 10, 202613F-NT EDGAR
- Aug 6, 202610-Q EDGAR
- Jul 6, 20264 EDGAR
- Jul 6, 20264 EDGAR
- Jul 6, 20264 EDGAR
- Jul 6, 20264 EDGAR
- May 20, 20268-K EDGAR
- May 18, 20268-K EDGAR
- May 15, 20268-K EDGAR
- May 13, 20264 EDGAR
- May 11, 202610-Q EDGAR
- May 1, 202613F-NT EDGAR
- Apr 24, 20263 EDGAR
- Apr 24, 20263 EDGAR
The 153 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
2 open-market trades by officers, directors and large owners since October 2021: 1 buys and 1 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Dec 15, 2025 | Globokar Brian R.SVP, Dr of Trust & Wealth Mgmt | Sale | 478 | $81.50 | $39.0K | Form 4 |
| May 16, 2023 | YODER SHELDON EDirector | Buy | 900 | $72.00 | $64.8K | Form 4 |
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- Hills Bank & Trust CoSCHEDULE 13G/A, 2 filings Aug 7, 2025 to Mar 13, 202645
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026. Change is in shares since the quarter before.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| Vestor Capital, LLC | 9,969 | $825 | 0.1% | +4,716 |
13F reports cover disclosed long positions in U.S. stocks only.
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10
- 11
- 12
- 13SEC EDGARDwight O. Siegmiller, President
- 14
- 15
- 16
- 17
- 18
- 19SEC EDGARShari J. Demaris, Treasurer
- 20
- 21
- 22
- 23
- 24SEC EDGARJames G. Pratt, Treasurer
- 25SEC EDGARKristie L. Fisher, Board member
- 26SEC EDGARMichael D. Jensen, Board member
- 27SEC EDGARThomas M. Slattery, Board member
- 28SEC EDGARAmy E. T. Sparks, Board member
- 29SEC EDGARWilliam A. Wever Ii., Board member
- 30SEC EDGARCasey L. Peck, Board member
- 31SEC EDGARJames C. Schmitt, Board member
- 32SEC EDGARKirsten H. Frey, Board member
- 33SEC EDGAREmily A. Hughes, Board member
- 34SEC EDGARThomas R. Wiele, Board member
- 35SEC EDGARAnn M. Rhodes, Board member
- 36SEC EDGARTheodore H. Pacha, Board member
- 37SEC EDGARMichael Hodge, Board member
- 38SEC EDGARRonald E. Stutsman, Board member
- 39SEC EDGARJames A. Nowak, Board member
- 40SEC EDGARSheldon E. Yoder, Board member
- 41SEC EDGARJohn W. Phelan, Board member
- 42SEC EDGARDonald H. Gringer, Board member
- 43SEC EDGARWillis M. Bywater, Board member
- 44SEC EDGARKenza Bemis Nelson, General counsel
- 45