Andrew Huck
Published: April 1, 2009

DUBUQUE — In September the United States Treasury Department launched the “Trouble Assess Relief Program” or T.A.R.P which is designed to help banks and financial institutions through the current economic crisis.

Billions of dollars has been given to banks to buy off their troubled assets or make them more viable. Heartland Financial USA, INC in Dubuque received T-A-R-P money in December but they are not one of the many banks in financial trouble.

“Heartland has survived and actually faired very well in this environment because of the diversification of our assets,” said Heartland Financial Executive Vice President, CRO, and COO John Schmidt.

On December 18, 2008 Heartland received 81.7 million dollars from the federal government. Heartland Financial operates sixty-one banks in eight states.

Dubuque Bank and Trust serves as their flagship bank.

“Dubuque Bank and Trust in Dubuque, Iowa last year had its best year and we expect it to have another good year this year,” explains Schmidt.

T.A.R.P funds were designed to improve the economy by giving money to successful banks, like Heartland

“They stimulate the economy by giving or making the investment to those banks that have the greatest potential to go out and make additional loans or go out and buy troubled banks,” explains Schmidt.

Dubuque Bank and Trust customers do not need to worry about their money.

“They can feel very comfortable whenever they put their money into Dubuque Bank and Trust that their money is going to be there for them. They also need to know that Dubuque Bank and Trust is there to make loans when they need a loan,” says Schmidt.

To find out if your bank received any T.A.R.P funds and any information about the financial stability plan visit www.financialstability.gov

Andrew Huck can be contacted at Andrew.Huck@lctv13.com