Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

Hills Bancorporation (the "Registrant") appointed Jason Weeks, age 44, to serve as interim principal accounting officer for the Registrant effective Tuesday, September 6, 2022. As previously reported on SEC Form 8-K, filed by the Registrant on July 18, 2022, Joseph A. Schueller, the Registrant's Treasurer and Secretary and the Registrant's principal financial officer resigned effective Friday, September 2, 2022. Mr. Weeks serves as the Senior Vice President Finance and Reporting of the Registrant and previously served as the Financial Reporting Officer of the Registrant since 2018. Prior to that, Mr. Weeks served as Senior Director, Financial Reporting at Cambridge Investment Research, Inc. and Senior Director, Audit Services at RSM US LLP. The Registrant has commenced a search for a new principal financial officer and chief financial officer and will make a subsequent announcement regarding such appointment upon completion.

Mr. Weeks has no family relationship with any director or executive officer of the Company or any of its affiliated subsidiaries. Since the beginning of the Company's last fiscal year, neither Mr. Weeks nor any member of his immediate family have been customers of, or have had transactions in excess of $120,000 with the Company or any of its affiliated subsidiaries which would be reportable under Item 404(a) of SEC Regulation S-K, except with respect to loans made by the Bank in its ordinary course of business and on substantially the same terms, including interest rates and collateral, as those prevailing at the time for comparable transactions with unrelated persons and did not involve more than the normal risk of collectability or present other unfavorable features.

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