Hills Bancorporation Announces Two-for-One Stock Split

What Happened

• Hills Bancorporation (HBIA) announced on April 14, 2026 that its Board approved an amendment to the Restated Articles of Incorporation to effect a two-for-one stock split. The Board adopted the amendment under Iowa law and the company filed Articles of Amendment with the Iowa Secretary of State on May 15, 2026.
• Under the split, the company doubled its authorized common shares from 20,000,000 to 40,000,000. Shareholders of record at the close of business on June 1, 2026 will receive one additional share for each share held; those additional shares will be issued on June 8, 2026.

Key Details

• Authorized common shares increased from 20,000,000 to 40,000,000.
• Board approval date: April 14, 2026.
• Filing with Iowa Secretary of State: May 15, 2026 (Articles of Amendment).
• Record Date for split: June 1, 2026; additional shares paid on June 8, 2026.

Why It Matters

• The two-for-one stock split doubles the number of shares outstanding and reduces the per-share price proportionally, but does not change the company’s total equity value or an individual shareholder’s ownership percentage.
• For investors, the split may increase the number of shares held and can make individual share prices lower and potentially more accessible to smaller investors; no cash distribution is involved.
• The amendment and split are procedural corporate actions documented in the 8-K; shareholders do not need to take action to receive the additional shares.