Company Overview

Hills Bancorporation is a U.S.-based bank holding company and the parent of Hills Bank and Trust Company, a community-focused financial institution operating primarily in Iowa. The company operates within the regional banking and financial services industry, providing traditional banking products to individuals, small businesses, and commercial customers. Its activities are centered on deposit-taking, lending, and related financial services rather than investment banking or capital markets operations.

The company’s primary revenue drivers are interest income from commercial, real estate, agricultural, and consumer loans, as well as non-interest income from service charges, mortgage banking, and wealth-related services. Hills Bancorporation positions itself as a locally governed institution with long-term customer relationships, emphasizing community involvement and conservative credit practices. The organization traces its roots to 1904 through the founding of its banking subsidiary and has evolved through organic branch expansion and selective acquisitions while maintaining its regional community bank focus.

Business Operations

Hills Bancorporation conducts substantially all operations through its wholly owned subsidiary, Hills Bank and Trust Company, which represents the company’s sole reportable operating segment. Revenue is generated primarily through net interest income derived from loans funded by customer deposits, supplemented by fees from mortgage origination, deposit services, and trust and wealth management activities. The bank offers checking and savings accounts, certificates of deposit, residential and commercial real estate loans, agricultural lending, and consumer credit products.

Operations are almost entirely domestic, with no material international banking activities disclosed in public filings. The company controls a branch network, loan servicing infrastructure, digital banking platforms, and trust services capabilities. Key subsidiaries and divisions under the banking entity include Hills Bank Mortgage, Hills Bank Wealth Management, and trust and investment services units, all of which support fee-based income diversification.

Strategic Position & Investments

Hills Bancorporation’s strategy emphasizes disciplined growth within its core Midwestern markets, balance sheet strength, and long-term relationship banking. Growth initiatives have historically focused on branch expansion, technology investment in online and mobile banking platforms, and selective acquisitions of community banks or branches that align with its geographic footprint and risk profile.

The company has completed several bank acquisitions over time to deepen market presence in Iowa, integrating acquired institutions into Hills Bank and Trust Company rather than operating them as standalone brands. Public disclosures indicate no material exposure to speculative emerging technologies or non-core financial sectors. Investment activities are largely limited to securities portfolios managed for liquidity and interest rate risk purposes, consistent with traditional community banking practices.

Geographic Footprint

Hills Bancorporation’s operations are concentrated in Eastern and Central Iowa, with branch locations across key metropolitan and regional markets including the Iowa City–Cedar Rapids corridor and surrounding communities. The company’s headquarters and principal executive offices are located in Iowa, and all material revenue is derived from U.S. customers.

The organization does not report significant international operations, foreign subsidiaries, or overseas investments. Its geographic strategy prioritizes density within existing markets to enhance operating efficiency, brand recognition, and customer retention rather than broad national or international expansion.

Leadership & Governance

Hills Bancorporation follows a community bank governance model with executive leadership drawn largely from long-tenured banking professionals. Strategic vision emphasizes stability, prudent risk management, local decision-making, and sustainable growth rather than rapid balance sheet expansion.

Key executives include:

• Dwight L. Seegmiller – Chairman and Chief Executive Officer
• David T. Hayes – President
• Michael J. Stumpf – Chief Financial Officer
• Brent R. Benton – Chief Lending Officer
• Andrew D. Sieren – Chief Operating Officer

The leadership team oversees both the holding company and Hills Bank and Trust Company, with governance structured to meet regulatory standards applicable to U.S. bank holding companies, including oversight under SEC filings and applicable federal and state banking regulations.