GAHANNA, Ohio, July 28, 2015 (GLOBE NEWSWIRE) -- Heartland BancCorp, (OTCQB:HLAN), parent company of Heartland Bank, today announced that it has signed a Letter of Intent with the Columbus Regional Airport Authority to lease and rehabilitate the original 1929 Port Columbus terminal and Transcontinental Air Transport (TAT) hangar in creation of a new corporate center. Progress is underway on the remaining steps to make this plan a reality.
"There are more moving parts in this development than a fine Swiss watch, but we hope to create a great long-term home for the bank's operations and corporate offices. Meanwhile, the citizens of Columbus will be able to enjoy these local landmarks of national significance in the history of aviation," said G. Scott McComb, Chairman, President and CEO. "However, we're very early in this process. In order to be feasible, the project will require State and Federal tax credits, City of Columbus tax abatements, FAA approval, an acceptable construction and build out budget, and placing the hangar on the National Register of Historic Places. If all goes well, we could be in our new headquarters by late 2016."
The original terminal building and TAT hangar opened July 8, 1929, as a stop on the nation's first transcontinental passenger service. The coast-to-coast service included daytime flights on TAT, one of the nation's first airlines, and overnight transport on trains, as early time aircraft weren't equipped for night travel. About 3,000 people were at Port Columbus to witness the inaugural flight of two Ford Tri-Motor aircraft with 19 passengers, including aviatrix Amelia Earhart.
"It's fitting that Heartland Bank, a strong community partner for over 100 years, is leading the efforts to preserve an important element of the community and the nation's history," said Elaine Roberts, President & CEO of CRAA. "We look forward to a long-term partnership with Heartland to ensure their success in their new headquarters."
About Heartland BancCorp
Heartland BancCorp is a registered Ohio bank holding company and the parent of Heartland Bank, which operated twelve full-service banking offices. Heartland Bank, founded in 1911, provides full-service commercial, small business and consumer banking services; alternative investment services; insurance services; and other financial products and services. Heartland Bank is a member of the Federal Reserve, a member of the FDIC, and an Equal Housing Lender. Heartland BancCorp is currently quoted on the OTC Markets (OTCQB) under the symbol HLAN. Learn more about Heartland Bank at HeartlandBank.com.
In May 2015, Heartland was ranked #77 on the American Banker magazine's list of Top 200 Publicly Traded Community Banks and Thrifts based on three-year average return on equity ("ROE") as of 12/31/14.
Safe Harbor Statement
This release contains forward-looking statements that reflect management's current views of future events and operations. These forward-looking statements are based on information currently available to the Company as of the date of this release. It is important to note that these forward-looking statements are not guarantees of future performance and involve risks and uncertainties, including, but not limited to, the ability of the Company to implement its strategy and expand its lending operations.