As of 30 June 2012, First National Bank has assets of about $130m, loans of $88m and deposits of $114m.
The bank has branches in Lancaster and Hazel Green, Wisconsin in addition to its main office in Platteville.
Upon completion of the transaction, First National Bank will be merged into Heartland’s Wisconsin Bank & Trust subsidiary.
The transaction is anticipated to close during the fourth quarter of 2012.
Heartland Financial president and CEO Lynn Fuller said, "First National Bank is an excellent fit for our community banking business model, and its locations match our desire to ‘fill-in’ attractive areas in or close to our existing geographies.
With total assets of $4.4bn, Heartland operates 64 branches in Iowa, Illinois, Wisconsin, New Mexico, Arizona, Montana, Colorado and Minnesota.
