<PAGE>   1
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                   FORM 10-QSB
                QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
                     OF THE SECURITIES EXCHANGE ACT OF 1934


For Quarterly Period Ended                         Commission File Number:
       June 30, 1999                                      333-67107


                           HEARTLAND BANCSHARES, INC.
-------------------------------------------------------------------------------
        (Exact name of small business issuer as specified in its charter)


              Florida                                           65-0854929
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(State or other jurisdiction of                              (I.R.S. Employer
 incorporation or organization)                             Identification No.)

245 US 27 North, Sebring, Florida                                   33870
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(Address of principal executive offices)                           (Zip Code)

Issuer's telephone number:     (941) 386-1300
                           ----------------------------------------------------

                                 Not Applicable
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(Former name, former address and former fiscal year, if changed since
last report)

Check whether the issuer (1) filed all reports required to be filed by Section
13 or 15(d) of the Securities Exchange Act of 1934 during the past 12 months
(or for such shorter period that the registrant was required to file such
reports), and (2) has been subject to such filing requirements for the past 90
days.

                  Yes [X]               No [ ]

State the number of shares outstanding of each of the issuer=s classes of
common equity, as of the latest practicable date:

<TABLE>
<CAPTION>

    Common Stock, $.10 Par Value                          653,530
-----------------------------------       -------------------------------------
<S>                                       <C>
                Class                       Outstanding as of August 10, 1999
</TABLE>

Transitional Small Business Disclosure Format:

                  Yes [ ]               No [X]


<PAGE>   2



                        PART I. - FINANCIAL INFORMATION

Item 1.  Financial Statements


                           HEARTLAND BANCSHARES, INC.
                         (A DEVELOPMENT STAGE COMPANY)

                                 BALANCE SHEET
                                  (Unaudited)

                                 June 30, 1999

<TABLE>
<CAPTION>

                                     ASSETS
                                     ------
<S>                                                                                      <C>
Cash                                                                                     $   46,448
Restricted cash and cash equivalents                                                      6,226,663
Land                                                                                        890,786
Construction in Progress                                                                    382,909
Deposits on furniture and equipment                                                         112,290
Deferred offering costs                                                                      20,214
                                                                                         ----------

          Total Assets                                                                   $7,679,310
                                                                                         ==========


                                       LIABILITIES AND SHAREHOLDERS' EQUITY
                                       ------------------------------------
Liabilities
-----------
  Escrow liability                                                                       $6,183,800
  Accounts payable                                                                           16,636
  Notes payable                                                                           1,482,875
                                                                                         ----------
          Total liabilities                                                               7,683,311
                                                                                         ----------

Shareholders' Equity
--------------------
  Common stock - Par value $.10 per share;
    10,000,000 shares authorized; 14,500 shares
    issued and outstanding                                                                    1,450
  Preferred stock - $.01 par value; 1,000,000 shares
    authorized; no shares issued or outstanding                                                  --
  Additional paid-in capital                                                                143,550
  Accumulated deficit during development stage                                             (149,001)
                                                                                         ----------
          Total Shareholders' Equity                                                         (4,001)
                                                                                         ----------

          Total Liabilities and Shareholders' Equity                                     $7,679,310
                                                                                         ==========
</TABLE>


See Accompanying Note to Financial Statements.


                                       1

<PAGE>   3

                           HEARTLAND BANCSHARES, INC.
                         (A DEVELOPMENT STAGE COMPANY)

                            STATEMENT OF OPERATIONS
                                  (Unaudited)



<TABLE>
<CAPTION>
                                                                              Six Months      Three Months
                                                                                Ended            Ended
                                                                            June 30, 1999     June 30, 1999
                                                                            -------------     -------------
<S>                                                                         <C>               <C>
INCOME
  Interest on escrow account                                                   $  42,863         $ 42,863
  Reimbursement of overpayment of
    legal fees                                                                    10,450               --
                                                                               ---------         --------

                                                                                  53,313           42,863
                                                                               ---------         --------
EXPENSES
    Organizational costs:
       Salaries                                                                   66,216           48,451
       Interest expense                                                           13,470               --
       Legal and professional                                                      3,316               66
       Insurance                                                                   3,395               --
       Amortization of loan costs                                                  2,875            1,437
       Miscellaneous expenses                                                     20,623           15,849
                                                                               ---------         --------
          Total expenses                                                         109,895           65,803
                                                                               ---------         --------

          Net loss                                                             $ (56,582)        $(22,940)
                                                                               =========         ========

          Net loss per share                                                   $   (4.32)        $  (1.58)
                                                                               =========         ========

          Average shares outstanding                                              13,105           14,500
                                                                               =========         ========
</TABLE>

See Accompanying Note to Financial Statements.




                                      2
<PAGE>   4

                           HEARTLAND BANCSHARES, INC.
                         (A DEVELOPMENT STAGE COMPANY)

                       STATEMENT OF SHAREHOLDERS' EQUITY
                                  (Unaudited)

                         Six Months Ended June 30, 1999


<TABLE>
<CAPTION>
                                                                                                            Accumulated
                                                                                                              Deficit
                                                                                       Additional              During
                                                                    Common               Paid-in            Development
                                                                     Stock               Capital               Stage
                                                                   --------            ----------           -----------

<S>                                                                <C>                 <C>                  <C>
Beginning balance, January 1, 1999                                 $  100               $  9,900            $ (92,419)

    Issuance of 13,500 shares
       of common stock at $10
       per share                                                    1,350                133,650                   --

    Net loss for the six months
       ended June 30, 1999                                             --                     --              (56,582)
                                                                   ------               --------            ---------

Balance, June 30, 1999                                             $1,450               $143,550            $(149,001)
                                                                   ======               ========            =========
</TABLE>


See Accompanying Note to Financial Statements.


                                      3
<PAGE>   5

                           HEARTLAND BANCSHARES, INC.
                         (A DEVELOPMENT STAGE COMPANY)

                            STATEMENT OF CASH FLOWS
                                  (Unaudited)

                         Six Months Ended June 30, 1999


<TABLE>
<CAPTION>


<S>                                                                                      <C>
OPERATING ACTIVITIES
--------------------
    Net loss                                                                             $  (56,582)
    Adjustment to reconcile net loss
      to net cash used in operating activities:
        Amortization of loan costs                                                            2,875
        Change in accounts payable                                                           (2,044)
                                                                                         ----------

        Net Cash Used In Operating Activities                                               (55,751)
                                                                                         ----------

INVESTING ACTIVITIES
--------------------
    Restricted cash and cash equivalents                                                 (6,226,663)
    Acquisition of land and land related costs                                             (245,011)
    Construction in progress                                                               (382,909)
    Deposits on furniture and equipment                                                    (112,290)
                                                                                         ----------

        Net Cash Used In Investing Activities                                            (6,966,873)
                                                                                         ----------

FINANCING ACTIVITIES
--------------------
    Escrow liability                                                                      6,183,800
    Sale of common stock                                                                    135,000
    Net proceeds from note payable                                                          745,000
    Deferred offering costs                                                                 (15,607)
                                                                                         ----------

        Net Cash Provided By Financing Activities                                         7,048,193
                                                                                         ----------

Net Increase in Cash                                                                         25,569

Beginning Cash                                                                               20,879
                                                                                         ----------
Ending Cash                                                                              $   46,448
                                                                                         ==========
</TABLE>

See Accompanying Note to Financial Statements.


                                      4
<PAGE>   6

                           HEARTLAND BANCSHARES, INC.
                         (A DEVELOPMENT STAGE COMPANY)

                          NOTE TO FINANCIAL STATEMENTS
                                  (Unaudited)

                         Six Months Ended June 30, 1999


NOTE 1 - ORGANIZATION AND BASIS OF PRESENTATION

         Organization:

                  Heartland Bancshares, Inc. (the Company) is a Florida
                  corporation with headquarters in Sebring, Florida. The
                  Company is a development stage company formed August 3, 1998,
                  for the purpose of raising up to $6.5 million in equity
                  capital through a common stock offering, and investing at
                  least $5.6 million of proceeds therefrom in the
                  capitalization of a proposed banking subsidiary, Heartland
                  National Bank (Bank). The Bank will be a National banking
                  institution with headquarters in Sebring and a branch in Lake
                  Placid, Florida. The Company has received preliminary
                  approval from the Office of the Comptroller of the Currency
                  (OCC) for a national bank charter. Funding during the
                  development stage has come from the proceeds of sale of
                  common stock to the organizers, and two lines of credit from
                  an unrelated banking institution. The Company has not
                  realized any revenue during this initial development stage.

                  The Company's efforts have been directed exclusively to
                  obtaining the necessary regulatory approvals for both the
                  Company and the Bank, and the raising of capital sufficient
                  to meet other organizational requirements. During this phase,
                  the Company has incurred, or will incur, costs generally
                  allocable to either organizational costs, pre-opening
                  expense, or deferred offering costs. In addition, the Company
                  has acquired, and will continue to acquire, banking premises
                  and other capital items necessary for operating the Bank.

                  Organizational costs consist principally of the cost incurred
                  in raising capital, outside consulting and legal fees, and
                  regulatory application fees requisite to formation of the
                  Company and the Bank. These costs are charged to expense as
                  incurred.

                  Pre-opening costs are costs that would ordinarily be
                  expensed, even if the Company were not a development stage
                  company. Such costs consist principally of salaries, rent,
                  utilities, dues and memberships and other expenses. These
                  costs are expensed as incurred.

                  Certain costs of the Company's public offering have been
                  capitalized as deferred offering costs. These costs will be
                  charged against additional paid-in capital.


                                      5
<PAGE>   7

                           HEARTLAND BANCSHARES, INC.
                         (A DEVELOPMENT STAGE COMPANY)

                    NOTE TO FINANCIAL STATEMENTS (Continued)
                                  (Unaudited)

                         Six Months Ended June 30, 1999



NOTE 1 - ORGANIZATION AND BASIS OF PRESENTATION - CONTINUED

         Basis of Presentation:

                  The accompanying unaudited condensed financial statements
                  have been prepared in accordance with the instructions of
                  Form 10-QSB. Accordingly, they do not include all of the
                  information and footnotes required by generally accepted
                  accounting principles for complete financial statements. In
                  the opinion of management, all adjustments (consisting of
                  normal recurring entries) considered necessary for a fair
                  presentation of the Company's financial results have been
                  made. Operating results for the six months ended June 30,
                  1999 are not indicative of the results that may be expected
                  for the year ending December 31, 1999. Moreover, at June 30,
                  1999, the Company is still in the development stage and has
                  not begun operations.


                                      6
<PAGE>   8

Item 2. Management's Plan of Operation

         Heartland Bancshares, Inc. (the "Company") is in the development
stage. The Company was incorporated in Florida on August 3, 1998 to become a
bank holding company and to own and control all of the outstanding shares of a
national bank, Heartland National Bank in Sebring and Lake Placid, Florida (the
"Bank"). In its initial public offering, which was completed on July 5, 1999,
the Company sold and issued 639,030 shares of its $.10 par value common stock.
Proceeds from the stock offering amounted to approximately $6,343,993, net of
selling expenses. See "Part II - Changes in Securities and Use of Proceeds."
The Company intends to purchase 100% of the Bank's common stock for an
aggregate purchase price of $6,000,000. The Bank will use the proceeds of the
sale of stock to fund its capital accounts immediately prior to the
commencement of banking operations, which is expected to occur on or about
September 7, 1999.

         The Company believes that the minimum proceeds of the offering will
satisfy the cash requirements of the Company and the Bank for their respective
initial years of operations. It is not anticipated that the Company will find
it necessary to raise additional funds to meet expenditures required to operate
the business of the Company and/or the Bank during the next 12 months. All
anticipated material expenditures for such period have been identified and
provided for out of the proceedings of the offering.

Cautionary Note Regarding Forward-Looking Statements

         The Company may, from time to time, make written or oral
forward-looking statements, including statements contained in the Company's
filings with the Securities and Exchange Commission (the "Commission") and its
reports to stockholders. Such forward-looking statements are made based on
management's belief as well as assumptions made by, and information currently
available to, management pursuant to "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995. The Company's actual results may
differ materially from the results anticipated in these forward-looking
statements due to a variety of factors, including governmental monetary and
fiscal policies, deposit levels, loan demand, loan collateral values,
securities portfolio values and interest rate risk management; the effects of
competition in the banking business from other commercial banks, savings and
loan associations, mortgage banking firms, consumer finance companies, credit
unions, securities brokerage firms, insurance companies, money market mutual
funds and other financial institutions operating in the Company's market area
and elsewhere, including institutions operating through the Internet; changes
in government regulations relating to the banking industry, including
regulations relating to branching and acquisitions; failure of assumptions
underlying the establishment of reserves for loan losses, including the value
of collateral underlying delinquent loans, and other factors. The Company
cautions that such factors are not exclusive. The Company does not undertake to
update any forward-looking statements that may be made from time to time by, or
on behalf of, the Company.


                                      7
<PAGE>   9

                          PART II. - OTHER INFORMATION

Item 2. Changes in Securities and Use of Proceeds.

USE OF PROCEEDS FROM SALES OF REGISTERED SECURITIES

         On February 5, 1999, the Company commenced an initial public offering
of its common stock, $.01 par value per share. The shares of the common stock
sold in the offering were registered under the Securities Act of 1933, as
amended, on a Registration Statement on Form SB-2 (the "Registration
Statement," registration number 333-67107). The Registration Statement, which
registered 650,000 shares of the Common Stock, was declared effective by the
Securities and Exchange Commission on February 5, 1999. The offering terminated
on July 5, 1999 after the Company had sold 639,030 shares of the common stock
registered under the Registration Statement. Each share of the common stock was
sold at a price to the public of $10.00 per share for an aggregate offering
price of $6.5 million.

         As set forth in the table below, from the effective date of the
Registration Statement to July 5, 1999, the Company paid expenses in the
aggregate of approximately $46,300 in connection with the Offering. All of the
amounts shown in the table are estimated except for the Securities and Exchange
Commission registration fee. None of the amounts shown were paid directly or
indirectly to any director, officer or general partner of the Company, or any
of their associates, or to any persons owning 10% or more of any class of
equity securities of the Company, or an affiliate of the Company.

<TABLE>

         <S>                                                                                          <C>
         SEC registration fee ..........................................................              $  1,807
         Blue sky qualification fees and expenses ......................................                 1,500
         Printing and engraving expenses ...............................................                13,000
         Legal fees and expenses .......................................................                20,000
         Accounting fees and expenses ..................................................                 2,000
         Mailing and Distribution ......................................................                 6,000
         Miscellaneous .................................................................                 2,000
                                                                                                      --------
         Total .........................................................................              $ 46,307
                                                                                                      ========
</TABLE>

         After deducting the offering expenses described above, net proceeds to
the Company from the offering were approximately $6,343,993. Of this amount,
the Company intends to use $6,000,000 to purchase 100% of the issued and
outstanding capital stock of the Bank and the remaining $343,993 will be used
to repay expenses incurred in the organization of the Company as well as for
general working capital. The Company intends to capitalize the Bank on or about
September 7, 1999. None of the net proceeds of the offering were paid directly
or indirectly to any director, officer, general partner of the Company or any
of their associates, or to any persons owning 10% or more of any class of
equity securities of the Company, or to an affiliate of the Company.


                                      8
<PAGE>   10

Item 6.  Exhibits and Reports on Form 8-K.

         (a)      Exhibits. The following exhibit is filed with this Report.

<TABLE>
<CAPTION>

                  Exhibit  No.      Description
                  ------------      -----------
                  <S>               <C>
                  27                Financial Data Schedule (for SEC use only)
</TABLE>

         (b)      Reports on Form 8-K. No report on Form 8-K was filed during
                  the quarter ended June 30, 1999.


                                      9
<PAGE>   11

                                   SIGNATURES

         Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.

<TABLE>

<S>                                         <C>
Date: August 10, 1999                       By: /s/ James C. Clinard
                                               --------------------------------------------------------------------
                                                 James C. Clinard, President and Chief Executive Officer
                                                 (principal executive officer)



Date: August 10, 1999                       By: /s/ Donald N. Abbott
                                               --------------------------------------------------------------------
                                                 Donald N. Abbott, Chief Financial Officer
                                                 (principal financial and accounting officer)
</TABLE>


                                      10