Bruce K. Lee is the President and CEO of Heartland Financial USA, Inc. Since stepping into his role as CEO in 2018, he has guided the company through a period of growth and restructuring. With over 30 years in banking,...

Bruce K. Lee is the President and CEO of Heartland Financial USA, Inc. Since stepping into his role as CEO in 2018, he has guided the company through a period of growth and restructuring. With over 30 years in banking, he knows the industry inside and out. Before joining Heartland, Lee served in top positions at Fifth Third Bancorp, where he was the Chief Credit Officer and helped steer various banking divisions. Known for his strong focus on performance, his annual bonuses are tied to specific metrics like profitability and loan growth. In 2023, he was among the top earners, with total compensation exceeding $2.8 million, showing he drives results. Interestingly, Lee intends to retire by the end of 2024, planning to assist in transitioning to a new leader, which highlights his commitment to the company's future. He has also seen fluctuations in his stock holdings over the years, including significant vested stock in 2022 that added considerable value to his overall wealth. Bruce Lee's tenure is marked by strategic leadership, a deep industry background, and a focus on strong financial metrics.

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1. Rivals

2. Holdings

3. Insider Trading

4. Compensation History

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Bruce K. Lee

CEO of Heartland Financial USA

Education

:null

Field of Expertise

Finance & Banking - Finance

Sector of Economy

Financial Services

CEO of Heartland Financial USA for

7 years 1 month (Jun 2018 - Present)

Previous Experience

Over 30 years in banking, including roles at Fifth Third Bancorp as Executive Vice President and Chief Credit Officer.

Rivals

Competitors/colleagues of Bruce K. Lee

Holdings

See how much did Bruce K. Lee make over time.

Bruce K. Lee has navigated varying levels of ownership in Heartland Financial's stocks throughout his time as CEO. In 2022, he saw significant value from his stock holdings, including over 15,600 shares that vested, worth approximately $775,000 at the time....

Bruce K. Lee has navigated varying levels of ownership in Heartland Financial's stocks throughout his time as CEO. In 2022, he saw significant value from his stock holdings, including over 15,600 shares that vested, worth approximately $775,000 at the time. His holdings have fluctuated alongside the company’s performance metrics, reflecting his deep investment in the firm and its future. During his tenure, there have been peaks in his stock value due to improved company results. At one point, his total wealth was closely tied to these investments, underscoring his belief in the company’s trajectory and strategic moves. As he plans to step down at the end of 2024, it will be interesting to see how his holdings change or what new investments he may pursue post-retirement.

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Insider Trading

See recent insider trades of Bruce K. Lee.

HTLF

$94.50K

HTLF at $31.50/share

Aug 14, 2023

Purchase

HTLF

$137.75K

HTLF at $27.55/share

May 9, 2023

Purchase

HTLF

$91.80K

HTLF at $45.90/share

Aug 23, 2022

Purchase

HTLF

$99.82K

HTLF at $33.27/share

Mar 17, 2020

Purchase

HTLF

$15.11K

HTLF at $30.09/share

Jun 30, 2020

Received

HTLF

$24.96K

HTLF at $44.41/share

Jan 2, 2020

Received

HTLF

$19.50K

HTLF at $41.75/share

Jan 22, 2019

Received

HTLF

$24.99K

HTLF at $47.70/share

Jan 18, 2018

Received

HTLF

$46.45K

HTLF at $46.45/share

May 17, 2017

Received

HTLF

$35.25K

HTLF at $35.25/share

Aug 24, 2016

Received

Compensation History

See how much did Bruce K. Lee make over time.

In 2023, Bruce K. Lee's total compensation reached about $2.8 million, reflecting his role as a high-performing CEO. This sum includes his base salary, bonuses linked to performance standards, and stock awards. His bonus structure emphasizes key financial metrics, such as organic loan growth and return on assets, showing his focus on driving results. Over the years, his compensation has seen ups and downs, with his highest reported income being nearly $3 million in 2022. The company approaches compensation with the philosophy that it should be competitive enough to attract top talent while aligning closely with shareholder interests. Despite his wealth, Lee is preparing for retirement by the end of 2024, which may shift the company's executive landscape significantly.

Year

2022

Total Compensation

$2.54M

Salary

$850.00K

Board Justification

Compensation levels should be competitive to ensure we attract and retain a highly qualified management team to lead and grow the company, rewarding superior performance and avoiding excessive risks.

Bonus

$794.39K

Board Justification

Annual cash incentive award based on performance standards linked to profitability, credit quality, and loan growth, adjusted by a return on average assets (ROAA) modifier.

Other

$125.21K

Board Justification

Includes contributions to 401(k), non-qualified deferred compensation plan, executive life insurance premiums, and an auto allowance.

Restricted Stock

$774.81K(15.69K RSU)

Board Justification

Restricted Stock Units (RSUs) that vested in 2022.

Performance Metrics

Annual cash incentive based on adjusted core pre-provision pre-tax net revenue, adjusted noninterest income, non-performing assets to total assets, net charge-offs to average loans, organic loan growth, and qualitative factors.