HILLS BANCORPORATION

Item 7.01 Regulation FD Disclosure Hills Bancorporation (the "Company") announced that its Board of Directors has approved a two-for-one (2-for-1) stock split of the Company's issued and outstanding shares of common stock, no par value. "This stock split reflects the Board's confidence in the continued strength and growth of Hills Bancorporation," said Lisa Shileny, President of the Company. "By lowering our per-share price, we are signaling our optimism about the Company's future. We believe these steps will benefit our shareholders." Under the terms of the stock split, each shareholder of record as of the close of business on June 1, 2026 will receive one additional share of common stock for every one share of common stock held as of that date. The additional shares will be distributed on June 8, 2026. As a result of the stock split, the Company's authorized shares of common stock will increase from 20,000,000 shares to 40,000,000 shares, all no par value. All newly issued shares of common stock distributed pursuant to the stock split will be issued in book-entry form. No physical stock certificates will be provided. Shareholders will receive a statement from Computershare, the Company's transfer agent, reflecting the increase in shares held as a result of the stock split. Shareholders do not need to take any action to receive their additional shares. All outstanding equity awards, including stock options and restricted stock awards, will be proportionally adjusted to reflect the stock split, with the number of shares doubled and applicable exercise prices on options reduced by one-half. The Company will file Articles of Amendment with the Iowa Secretary of State to effectuate the stock split. About Hills Bancorporation Hills Bancorporation is an Iowa corporation and registered bank holding company headquartered in Iowa City, Iowa. The Company's common stock is quoted on the OTCID marketplace under the symbol "HBIA."