Hills Bancorporation is the holding company for Hills Bank and Trust, a community bank operating entirely within eastern Iowa across four counties: Johnson County (Iowa City), Linn County (Cedar Rapids), Washington County, and Iowa County. Hills Bank and Trust takes in deposits and makes loans — primarily real estate loans, which make up roughly 86% of total loans. The loan portfolio is weighted toward residential mortgages (~39%), commercial real estate (~16%), multi-family (~14%), construction (~9%), and farmland (~8%), with smaller exposures to commercial, agricultural, and consumer loans. The bank makes money primarily through net interest income — the spread between what it earns on loans and investments and what it pays on deposits. Beyond spread income, Hills Bank and Trust earns mortgage banking fees by originating residential mortgages and selling them into the secondary market without retaining servicing rights, and generates recurring fee income from trust and wealth management services including estate administration, personal trusts, pension management, and investment advisory. The bank funds its loan book through customer deposits supplemented by FHLB borrowings. Hills Bank and Trust has grown entirely organically — it has not made an acquisition since 2001 — and operates 19 branches across its four-county footprint. Johnson County, anchored by the University of Iowa and its health system, is the bank's largest and home market.