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| x | ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|---|--------------------------------------------------------------------------------------|

| For the fiscal year ended December 31, 2012. |   | Commission File Number 0-12668 |
|----------------------------------------------|--------|--------------------------------|

| Iowa                                                           |   | 42-1208067                        |
|----------------------------------------------------------------|--------|-----------------------------------|
| (State or Other Jurisdiction of Incorporation or Organization) |   | (IRS Employer Identification No.) |

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| Item 10. | Directors, Executive Officers and Corporate Governance |
|----------|--------------------------------------------------------|

|  Name        |  Age |  Position                                                                                                                                                                                                                                                                   |
|------------------------|-----------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Company                |
| Dwight O. Seegmiller   | 60        | Mr. Seegmiller, who joined the Company in 1975, has served as its President since 1986.   Prior to 1986, Mr. Seegmiller was the Senior Vice President of Lending.                                                                                                           |
|                   |      |                                                                                                                                                                                                                                                                             |
| Shari J. DeMaris  | 43   | Ms. DeMaris was appointed Secretary, Treasurer and Principal Financial Officer on November 1, 2012, replacing James Pratt whose retirement became effective on October 31, 2012.   Ms. DeMaris served as Senior Vice President, Director of Finance since December of 2008. |
|              |      |                                                                                                                                                                                                                                                                             |
| Bank                   |
| Timothy D. Finer       | 51        | Mr. Finer has held the position of Senior Vice President, Director of Real Estate Lending since 2005.                                                                                                                                                                            |
|                   |      |                                                                                                                                                                                                                                                                             |
| Marty J. Maiers        | 55        | Mr. Maiers has held the position of Senior Vice President, Director of Retail Banking since 2008.                                                                                                                                                                                |
|                   |      |                                                                                                                                                                                                                                                                             |
| Steven R. Ropp         | 52        | Mr. Ropp has held the position of Senior Vice President, Director of Commercial Banking since 2008.                                                                                                                                                                              |
|                   |      |                                                                                                                                                                                                                                                                             |
| Bradford C. Zuber      | 56        | Mr. Zuber has held the position of Senior Vice President, Director of Trust Services since 1987.                                                                                                                                                                                 |

| Item 11. | Executive Compensation |
|----------|------------------------|

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| Item 12. | Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters |
|----------|------------------------------------------------------------------------------------------------|

| Plan Category                                              |   | Number of securities tobe issued upon exerciseof outstanding options,warrants and rights(a) |   |   | Weighted-averageexercise price ofoutstanding options,warrants and rights(b) |   |   | Number of securities remainingavailable for future issuanceunder equity compensationplans [excluding securitiesreflected in column (a)] |   |
|------------------------------------------------------------|--------|---------------------------------------------------------------------------------------------|--------|--------|-----------------------------------------------------------------------------|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------|--------|
| Equity compensation plans approved by security holders     |   |                                                                                        | 17,985 |   |                                                                        | $      | 47.62  |                                                                                                                                    |   |   | 76,186 |   |
| Equity compensation plans not approved by security holders |   |                                                                                        | -      |   |                                                                        |   | -      |                                                                                                                                    |   |   | - |   |
| Total                                                      |   |                                                                                        | 17,985 |   |                                                                        | $      | 47.62  |                                                                                                                                    |   |   | 76,186 |   |

| Item 13. | Certain Relationships and Related Transactions, and Director Independence |
|----------|---------------------------------------------------------------------------|

| Item 14. | Principal Accounting Fees and Services |
|----------|----------------------------------------|

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|                       | HILLS BANCORPORATION                                                  |
|----------------------------|-----------------------------------------------------------------------|
|                       |                                                                  |
| Date:  August 1, 2013 | By: /s/Dwight O. Seegmiller                                           |
|                       | Dwight O. Seegmiller, Director, President and Chief Executive Officer |
|                       |                                                                  |
| Date:  August 1, 2013 | By: /s/Shari DeMaris                                                  |
|                       | Shari DeMaris, Secretary, Treasurer and Chief Accounting Officer      |

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| 31.1   | Rule 13-a-14(a) Certification -  Principal Executive Officer |
|--------|-------------------------------------------------------------------|
|   |                                                              |
| 31.2   | Rule 13-a-14(a) Certification -  Principal Financial Officer |

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