Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
SCHMIDT JOHN K
   2. Issuer Name and Ticker or Trading Symbol
HEARTLAND FINANCIAL USA INC [HTLF] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
EVP & CFO
(Last)
(First)
(Middle)
1398 CENTRAL AVE.		 3. Date of Earliest Transaction (Month/Day/Year)
02/10/2005
(Street)

DUBUQUE, IA 52001		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock               89,683 (8) D (1)  
Common Stock               14,622 I 401(k)
Common Stock               4,067.66 (5) I Minor Child (2)
Common Stock               4,067.66 (5) I Minor Child (3)
Common Stock               4,601.514 (5) I Minor Child (4)
Common Stock               10,125 I Spouse (6)

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Non-Qualified Stock Option (Right to Buy $ 8               (7) 01/02/2007 Common Stock 16,000   16,000 D  
Non-Qualified Stock Option (Right to Buy $ 9.83               (7) 01/02/2008 Common Stock 24,000   24,000 D  
Non-Qualified Stock Option (Right to Buy $ 12               (7) 01/02/2009 Common Stock 24,000   24,000 D  
Non-Qualified Stock Option (Right to Buy $ 12               (7) 01/17/2010 Common Stock 9,000   9,000 D  
Non-Qualified Stock Option (Right to Buy $ 8.67               (7) 06/01/2011 Common Stock 9,000   9,000 D  
Non-Qualified Stock Option (Right to Buy $ 8.8               (7) 01/15/2012 Common Stock 3,750   3,750 D  
Non-Qualified Stock Option (Right to Buy $ 11.84               (7) 01/21/2013 Common Stock 10,500   10,500 D  
Non-Qualified Stock Option (Right to Buy) $ 19.48               (7) 01/20/2014 Common Stock 10,000   10,000 D  
Non-Qualified Stock Option (Right to Buy) $ 21 02/10/2005   A   10,000     (7) 02/10/2015 Common Stock 10,000 $ 0 10,000 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
SCHMIDT JOHN K
1398 CENTRAL AVE.
DUBUQUE, IA 52001		   X     EVP & CFO  

Signatures

 /s/ John K. Schmidt   02/17/2005
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Includes 1,549 shares held jointly with reporting person's spouse.
(2) Shares held as Donna L. Schmidt Cust for Nicole M. Schmidt.
(3) Shares held as Donna L. Schmidt Cust for Alexander J. Schmidt.
(4) Shares held as Donna L. Schmidt Cust for Benjamin N. Schmidt.
(5) Shares participate in a Dividend Reinvestment Plan.
(6) The reporting person disclaims beneficial ownership of these securities, and this report shall not be deemed to be an admission that the reporting person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.
(7) Represents options to buy granted under the Company's Stock Option Plan, a Rule 16(b)(3) plan, which options vest one-third per year beginning on the 3rd anniversary of date of grant.
(8) These shares reflect 347 shares issued 12/31/04, pursuant to the Employee Stock Purchase Plan.

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