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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

October 8, 2024
Date of Report (date of earliest event reported)

HILLS BANCORPORATION
(Exact name of registrant as specified in its charter)
Iowa
0-12668
42-1208067
(State or other jurisdiction of incorporation or organization)
(Commission File Number)
(I.R.S. Employer Identification No.)
131 E. Main Street, PO Box 160
Hills
Iowa
52235
(Address of Principal Executive Offices)
(Zip Code)
(319) 679-2291
Registrant's telephone number, including area code


Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On October 8, 2024, the Board of Directors of Hills Bancorporation (the “Company”), appointed Lisa Shileny as President and CEO of Hills Bancorporation and Hills Bank and Trust Company (“Hills Bank”), to be effective January 1, 2025. Ms. Shileny currently serves as President and Chief Operating Officer of Hills Bank. Mr. Dwight Seegmiller, President and CEO of the Company and CEO of Hills Bank, will transition to a management advisory role effective January 1, 2025, through his retirement in April of 2025, to assist in the transition of leadership of the Company. Mr. Seegmiller will remain a member of the Board of Directors of the Company and the Bank through the expiration of his current term in April of 2025.

Item 8.01. Other Events.

On October 9, 2024, the Company issued a press release announcing the appointment of Lisa Shileny as President and CEO of the Company and Hills Bank, to be effective January 1, 2025. A copy of the press release is furnished herewith.


Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

The following exhibits are furnished herewith:

Exhibit
Number Exhibit Description

99 Registrant’s press release dated October 9, 2024

SIGNATURE

Pursuant to the requirement of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

HILLS BANCORPORATION

Date: October 9, 2024


/s/ Dwight O. Seegmiller
Dwight O. Seegmiller,
Director and Chief Executive Officer


PRESS RELEASE

HILLS BANCORPORATION
Hills, Iowa

FOR IMMEDIATE RELEASE:
October 9, 2024
Contact: Jill De Young
Phone: 319-679-5018
HILLS BANCORPORATION ANNOUNCES THE APPOINTMENT OF
LISA SHILENY AS PRESIDENT AND CEO

On October 8, 2024, the Board of Directors of Hills Bancorporation (the “Company”) and of Hills Bank and Trust Company (the “Bank”), appointed Lisa Shileny as President and CEO of Hills Bancorporation and Hills Bank and Trust Company, to be effective January 1, 2025. Ms. Shileny currently serves as President and Chief Operating Officer of the Bank. Ms. Shileny was appointed as Chief Operating Officer of the Bank in December of 2021, and as President in November of 2022. In April of 2023, Ms. Shileny was elected to the Board of Directors of the Company and the Bank. Ms. Shileny has been with the Bank since 2005, and prior positions with the Company and the Bank include serving as Senior Vice President, General Counsel from 2015 to 2017; Senior Vice President, Director of Operations from 2017 to 2019; and Senior Vice President, Director of Administration starting in 2019 through her appointment as Chief Operating Officer.

Ms. Shileny started her career in the private practice of law at Stanley, Lande and Hunter after graduating with a Bachelor of Arts degree from Central College in 1998 and a Doctor of Jurisprudence from the University of Iowa College of Law in 2002. She is a graduate of the Graduate School of Banking at the University of Wisconsin and the American Bankers Association Stonier Graduate School of Banking at the Wharton School of Business of the University of Pennsylvania. Ms. Shileny is a current Board Member and Past-Chairperson of the Board of Directors of Goodwill of the Heartland and serves on the Board of Directors of Greater Iowa City, Inc.

Mr. Dwight Seegmiller, President and CEO of the Company and CEO of the Bank, will transition to a management advisory role effective January 1, 2025, through his retirement in April of 2025, to assist in the transition of leadership of the Company and the Bank. Mr. Seegmiller has been with the Bank for 49 years and served as the President and CEO for over 38 years guiding the growth of the Bank from $220 million in total assets in 1986, to over $4.3 billion today. In making this appointment as a part of its planned management succession, the Board of Directors extends its heart-felt gratitude to Mr. Seegmiller for his many years of capable and steady leadership. Mr. Seegmiller will remain a member of the Board of Directors of the Company and the Bank through the expiration of his current term in April of 2025.

About the Company
Hills Bancorporation is a bank holding company and parent company of Hills Bank and Trust Company (“Hills Bank”). Hills Bank is a full-service commercial bank extending its services to individuals, businesses, governmental units, and institutional customers. Hills Bank is actively engaged in all areas of commercial banking, including acceptance of demand, savings, and time deposits; making commercial, real estate, agricultural and consumer loans; maintaining night and safe deposit facilities; and performing other banking services tailored for individual customers. Hills Bank administers estates, personal trusts, and pension plans and provides investment advisory and custodial services for individuals, corporations, and nonprofit organizations.

v3.24.3
Document and Entity Information
Oct. 08, 2024
Cover [Abstract]  
Document Type 8-K
Document Period End Date Oct. 08, 2024
Entity Registrant Name HILLS BANCORPORATION
Entity Incorporation, State or Country Code IA
Entity File Number 0-12668
Entity Tax Identification Number 42-1208067
Entity Address, Address Line One 131 E. Main Street, PO Box 160
Entity Address, City or Town Hills
Entity Address, State or Province IA
Entity Address, Postal Zip Code 52235
City Area Code 319
Local Phone Number 679-2291
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Entity Emerging Growth Company false
Entity Central Index Key 0000732417
Amendment Flag false
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