----

----

| þ | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES |
|--------|--------------------------------------------------------------------|
|   | EXCHANGE ACT OF 1934                                               |
|   | For the quarterly period ended March 31, 2011                      |

| ¨ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934            |
|--------|-----------------------------------------------------------------------------------------------------|
|   | For the transition period from     to      . |

|   | Commission file number   0-13721 |
|--------|-------------------------------------------------|

|   | HICKORY TECH CORPORATION |
|--------|--------------------------|

|   | (Exact name of registrant as specified in its charter) |
|--------|--------------------------------------------------------|

| Minnesota                       | 41-1524393          |
|---------------------------------|---------------------|
| (State or other jurisdiction of | (I.R.S. Employer    |
| incorporation or organization)  | Identification No.) |

|   | 221 East Hickory Street |
|--------|-------------------------|

|   | Mankato, Minnesota  56002-3248 |
|--------|------------------------------------------|

|   | (Address of principal executive offices and zip code) |
|--------|-------------------------------------------------------|

|   | (800) 326-5789 |
|--------|----------------|

|   | (Registrant’s telephone number, including area code) |
|--------|------------------------------------------------------------|

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TABLE OF CONTENTS

|   | PART I Financial Information |
|--------|------------------------------|

| Item 1. | Financial Statements                                                                                 |  3 |
|---------|------------------------------------------------------------------------------------------------------|---------|
|    | Consolidated Statements of Operations (unaudited) for the Three Months Ended March 31, 2011 and 2010 | 3       |
|    | Consolidated Balance Sheets (unaudited) as of March 31, 2011 and December 31, 2010                   | 4       |
|    | Consolidated Statements of Cash Flows (unaudited) for the Three Months Ended March 31, 2011 and 2010 | 5       |
|    | Condensed Notes to Consolidated Financial Statements (unaudited)                                     | 6       |
| Item 2. | Management's Discussion and Analysis of Financial Condition and Results of Operations                | 14      |
| Item 3. | Quantitative and Qualitative Disclosures about Market Risk                                           | 24      |
| Item 4. | Controls and Procedures                                                                              | 24      |
|    |                                                                                                 |    |

|   | PART II Other Information |
|--------|---------------------------|

| Item 1.  | Legal Proceedings                                           | 24     |
|----------|-------------------------------------------------------------|--------|
| Item 1A. | Risk Factors                                                | 24     |
| Item 2.  | Unregistered Sales of Equity Securities and Use of Proceeds | 25     |
| Item 3.  | Defaults Upon Senior Securities                             | 25     |
| Item 4.  | Removed and Reserved                                        | 25     |
| Item 5.  | Other Information                                           | 25     |
| Item 6.  | Exhibit Listing                                             | 25     |
|     | Signatures                                                  | 26     |
|     | Exhibits                                                    |   |

----

Part I  Financial Information

Item 1

| HICKORY TECH CORPORATION                                                              |   |
|---------------------------------------------------------------------------------------|--------|
| CONSOLIDATED STATEMENTS OF OPERATIONS                                                 |   |
| (Unaudited)                                                                           |   |
|                                                                                  |   |   |   |   |   |   |
|                                                                                  |   | Three Months Ended March 31 |   |
| (Dollars in thousands, except share and per share amounts)                            |   | 2011 |   |   | 2010 |   |
| Operating revenue:                                                                    |   |   |   |   |   |   |
| Equipment                                                                             |   | $ | 8,195 |   |   | $ | 9,884 |   |
| Services                                                                              |   |   | 30,427 |   |   |   | 28,836 |   |
| Total operating revenue                                                               |   |   | 38,622 |   |   |   | 38,720 |   |
|                                                                                  |   |   |   |   |   |   |   |   |
| Costs and expenses:                                                                   |   |   |   |   |   |   |   |   |
| Cost of sales, excluding depreciation and amortization                                |   |   | 6,999 |   |   |   | 8,475 |   |
| Cost of services, excluding depreciation and amortization                             |   |   | 14,735 |   |   |   | 14,178 |   |
| Selling, general and administrative expenses                                          |   |   | 6,543 |   |   |   | 6,196 |   |
| Depreciation                                                                          |   |   | 5,591 |   |   |   | 5,322 |   |
| Amortization of intangibles                                                           |   |   | 88 |   |   |   | 89 |   |
| Total costs and expenses                                                              |   |   | 33,956 |   |   |   | 34,260 |   |
|                                                                                  |   |   |   |   |   |   |   |   |
| Operating income                                                                      |   |   | 4,666 |   |   |   | 4,460 |   |
|                                                                                  |   |   |   |   |   |   |   |   |
| Other income and expense:                                                             |   |   |   |   |   |   |   |   |
| Interest and other income                                                             |   |   | 10 |   |   |   | 37 |   |
| Interest expense                                                                      |   |   | (1,068 | ) |   |   | (1,591 | ) |
| Total other (expense)                                                                 |   |   | (1,058 | ) |   |   | (1,554 | ) |
|                                                                                  |   |   |   |   |   |   |   |   |
| Income before income taxes                                                            |   |   | 3,608 |   |   |   | 2,906 |   |
| Income tax provision                                                                  |   |   | 1,466 |   |   |   | 1,479 |   |
|                                                                                  |   |   |   |   |   |   |   |   |
| Net income                                                                            |   | $ | 2,142 |   |   | $ | 1,427 |   |
|                                                                                  |   |   |   |   |   |   |   |   |
|                                                                                  |   |   |   |   |   |   |   |   |
| Basic earnings per share                                                              |   | $ | 0.16 |   |   | $ | 0.11 |   |
|                                                                                  |   |   |   |   |   |   |   |   |
| Weighted average common shares outstanding                                            |   |   | 13,329,603 |   |   |   | 13,154,781 |   |
|                                                                                  |   |   |   |   |   |   |   |   |
|                                                                                  |   |   |   |   |   |   |   |   |
| Diluted earnings per share                                                            |   | $ | 0.16 |   |   | $ | 0.11 |   |
|                                                                                  |   |   |   |   |   |   |   |   |
| Weighted average common and equivalent shares outstanding                             |   |   | 13,341,871 |   |   |   | 13,159,326 |   |
|                                                                                  |   |   |   |   |   |   |   |   |
| Dividends per share                                                                   |   | $ | 0.135 |   |   | $ | 0.13 |   |
|                                                                                  |   |   |   |   |   |   |   |   |
| The accompanying notes are an integral part of the consolidated financial statements. |   |

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Table of Contents

| HICKORY TECH CORPORATION                                                                                                                          |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------|--------|
| CONSOLIDATED BALANCE SHEETS                                                                                                                       |   |
| (Unaudited)                                                                                                                                       |   |
| (Dollars in thousands except share and per share amounts)                                                                                         |   | March 31, 2011 |   |   | December 31, 2010 |   |
| ASSETS                                                                                                                                            |   |
| Current assets:                                                                                                                                   |   |   |   |   |   |   |
|        Cash and cash equivalents                                                                                    |   | $ | 9,859 |   |   | $ | 73 |   |
|        Receivables, net of allowance for doubtful accounts of $535 and $570                                         |   |   | 19,647 |   |   |   | 24,642 |   |
|        Inventories                                                                                                  |   |   | 4,959 |   |   |   | 5,205 |   |
|        Income taxes receivable                                                                                      |   |   | - |   |   |   | 3,814 |   |
|        Deferred income taxes, net                                                                                   |   |   | 2,008 |   |   |   | 2,008 |   |
|        Prepaid expenses                                                                                             |   |   | 2,719 |   |   |   | 2,026 |   |
|        Other                                                                                                        |   |   | 600 |   |   |   | 1,030 |   |
|              Total current assets                                                     |   |   | 39,792 |   |   |   | 38,798 |   |
|                                                                                                                                              |   |   |   |   |   |   |   |   |
| Investments                                                                                                                                       |   |   | 4,224 |   |   |   | 4,512 |   |
|                                                                                                                                              |   |   |   |   |   |   |   |   |
| Property, plant and equipment                                                                                                                     |   |   | 381,900 |   |   |   | 379,433 |   |
|        Accumulated depreciation                                                                                     |   |   | (228,639 | ) |   |   | (224,356 | ) |
|               Property, plant and equipment, net                                      |   |   | 153,261 |   |   |   | 155,077 |   |
|                                                                                                                                              |   |   |   |   |   |   |   |   |
| Other assets:                                                                                                                                     |   |   |   |   |   |   |   |   |
|        Goodwill                                                                                                     |   |   | 27,303 |   |   |   | 27,303 |   |
|        Intangible assets, net                                                                                       |   |   | 2,580 |   |   |   | 2,668 |   |
|        Deferred costs and other                                                                                     |   |   | 1,717 |   |   |   | 1,830 |   |
|              Total other assets                                                       |   |   | 31,600 |   |   |   | 31,801 |   |
|                                                                                                                                              |   |   |   |   |   |   |   |   |
| Total assets                                                                                                                                      |   | $ | 228,877 |   |   | $ | 230,188 |   |
|                                                                                                                                              |   |   |   |   |   |   |   |   |
| LIABILITIES & SHAREHOLDERS' EQUITY                                                                                                            |   |
| Current liabilities:                                                                                                                              |   |   |   |   |   |   |   |   |
|        Extended term payable                                                                                        |   | $ | 6,958 |   |   | $ | 8,254 |   |
|        Accounts payable                                                                                             |   |   | 2,182 |   |   |   | 2,840 |   |
|        Accrued expenses and other                                                                                   |   |   | 6,962 |   |   |   | 7,929 |   |
|        Accrued income taxes                                                                                         |   |   | 611 |   |   |   | - |   |
|        Financial derivative instruments                                                                             |   |   | 740 |   |   |   | 1,079 |   |
|        Deferred revenue                                                                                             |   |   | 5,468 |   |   |   | 5,073 |   |
|        Current maturities of long-term obligations                                                                  |   |   | 62,368 |   |   |   | 4,892 |   |
|              Total current liabilities                                                |   |   | 85,289 |   |   |   | 30,067 |   |
|                                                                                                                                              |   |   |   |   |   |   |   |   |
| Long-term liabilities:                                                                                                                            |   |   |   |   |   |   |   |   |
|        Debt obligations, net of current maturities                                                                  |   |   | 56,418 |   |   |   | 114,067 |   |
|        Accrued income taxes                                                                                         |   |   | 562 |   |   |   | 562 |   |
|        Deferred income taxes                                                                                        |   |   | 27,046 |   |   |   | 26,868 |   |
|        Deferred revenue                                                                                             |   |   | 1,283 |   |   |   | 1,397 |   |
|        Accrued employee benefits and deferred compensation                                                          |   |   | 16,041 |   |   |   | 15,923 |   |
|              Total long-term liabilities                                              |   |   | 101,350 |   |   |   | 158,817 |   |
|                                                                                                                                              |   |   |   |   |   |   |   |   |
|              Total liabilities                                                   |   |   | 186,639 |   |   |   | 188,884 |   |
|                                                                                                                                              |   |   |   |   |   |   |   |   |
| Commitments and contingencies                                                                                                                     |   |   |   |   |   |   |   |   |
|                                                                                                                                              |   |   |   |   |   |   |   |   |
| Shareholders' equity:                                                                                                                             |   |   |   |   |   |   |   |   |
|        Common stock, no par value, $.10 stated value                                                                |   |   |   |   |   |   |   |   |
|              Shares authorized: 100,000,000                                           |   |   |   |   |   |   |   |   |
|              Shares issued and outstanding: 13,366,179 in 2011 and 13,298,626 in 2010 |   |   | 1,337 |   |   |   | 1,330 |   |
|        Additional paid-in capital                                                                                   |   |   | 14,641 |   |   |   | 14,328 |   |
|        Retained earnings                                                                                            |   |   | 30,186 |   |   |   | 29,841 |   |
|        Accumulated other comprehensive (loss)                                                                       |   |   | (3,926 | ) |   |   | (4,195 | ) |
|              Total shareholders' equity                                               |   |   | 42,238 |   |   |   | 41,304 |   |
|                                                                                                                                              |   |   |   |   |   |   |   |   |
| Total liabilities and shareholders' equity                                                                                                        |   | $ | 228,877 |   |   | $ | 230,188 |   |
|                                                                                                                                              |   |   |   |   |   |   |   |   |
| The accompanying notes are an integral part of the consolidated financial statements.                                                             |   |

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Table of Contents

| HICKORY TECH CORPORATION                                                                                                     |   |
|------------------------------------------------------------------------------------------------------------------------------|--------|
| CONSOLIDATED STATEMENTS OF CASH FLOWS                                                                                        |   |
| (Unaudited)                                                                                                                  |   |
|                                                                                                                         |   | Three Months Ended March 31 |   |
| (Dollars in thousands)                                                                                                       |   | 2011 |   |   | 2010 |   |
| OPERATING ACTIVITIES:                                                                                                        |   |   |   |   |   |   |
|      Net income                                                                                          |   | $ | 2,142 |   |   | $ | 1,427 |   |
|      Adjustments to reconcile net income to net cash provided by operating activities:                   |   |   |   |   |   |   |   |   |
|             Depreciation and amortization                             |   |   | 5,679 |   |   |   | 5,411 |   |
|             Accrued patronage refunds                                 |   |   | (97 | ) |   |   | (124 | ) |
|             Stock based compensation                                  |   |   | 254 |   |   |   | 352 |   |
|             Other                                                     |   |   | 122 |   |   |   | 263 |   |
|      Changes in operating assets and liabilities, net of effect from acquired net assets                 |   |   |   |   |   |   |   |   |
|             Receivables                                          |   |   | 5,036 |   |   |   | (648 | ) |
|             Prepaids                                             |   |   | (693 | ) |   |   | (687 | ) |
|             Inventories                                          |   |   | 246 |   |   |   | (1,830 | ) |
|             Accounts payable and accrued expenses                |   |   | (1,427 | ) |   |   | (1,283 | ) |
|             Deferred revenue, billings and deposits              |   |   | 280 |   |   |   | (1,218 | ) |
|             Income taxes                                         |   |   | 4,427 |   |   |   | 447 |   |
|             Other                                                |   |   | 928 |   |   |   | 181 |   |
|      Net cash provided by operating activities                                                           |   |   | 16,897 |   |   |   | 2,291 |   |
|                                                                                                                         |   |   |   |   |   |   |   |   |
| INVESTING ACTIVITIES:                                                                                                        |   |   |   |   |   |   |   |   |
|      Additions to property, plant and equipment                                                          |   |   | (3,742 | ) |   |   | (3,429 | ) |
|      Acquisition, adjustment to purchase price                                                           |   |   | - |   |   |   | 120 |   |
|      Proceeds from sale of assets                                                                        |   |   | 69 |   |   |   | 33 |   |
|      Net cash (used in) investing activities                                                             |   |   | (3,673 | ) |   |   | (3,276 | ) |
|                                                                                                                         |   |   |   |   |   |   |   |   |
| FINANCING ACTIVITIES:                                                                                                        |   |   |   |   |   |   |   |   |
|      Borrowings on extended term payable arrangement                                                     |   |   | 11,382 |   |   |   | 14,909 |   |
|      Payments on extended term payable arrangement                                                       |   |   | (12,678 | ) |   |   | (10,274 | ) |
|      Borrowings on credit facility                                                                       |   |   | 16,000 |   |   |   | 800 |   |
|      Payments on credit facility and capital lease obligations                                           |   |   | (16,173 | ) |   |   | (5,161 | ) |
|      Proceeds from issuance of common stock                                                              |   |   | 66 |   |   |   | 59 |   |
|      Change in cash overdraft                                                                            |   |   | (238 | ) |   |   | - |   |
|      Dividends paid                                                                                      |   |   | (1,797 | ) |   |   | (1,706 | ) |
|      Net cash (used in) financing activities                                                             |   |   | (3,438 | ) |   |   | (1,373 | ) |
|                                                                                                                         |   |   |   |   |   |   |   |   |
| Net increase (decrease) in cash and cash equivalents                                                                         |   |   | 9,786 |   |   |   | (2,358 | ) |
| Cash and cash equivalents at beginning of the period                                                          |   |   | 73 |   |   |   | 2,420 |   |
| Cash and cash equivalents at the end of the period                                                                           |   | $ | 9,859 |   |   | $ | 62 |   |
|                                                                                                                         |   |   |   |   |   |   |   |   |
| Supplemental disclosure of cash flow information:                                                                            |   |   |   |   |   |   |   |   |
|      Cash paid for interest                                                                              |   | $ | 1,078 |   |   | $ | 1,804 |   |
|      Net cash paid (received) for income taxes                                                           |   | $ | (2,961 | ) |   | $ | 1,032 |   |
| Non-cash investing and financing activities:                                                                                 |   |   |   |   |   |   |   |   |
|      Property, plant and equipment acquired with capital leases                                          |   | $ | - |   |   | $ | 35 |   |
|      Change in other comprehensive income (loss) from financial derivatives and post-retirement benefits |   | $ | 269 |   |   | $ | 228 |   |
|                                                                                                                         |   |   |   |   |   |   |   |   |
| The accompanying notes are an integral part of the consolidated financial statements.                                        |   |

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Table of Contents

Item 1. 

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Table of Contents

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Table of Contents

|                                                                |   | Three Months Ended March 31 |       |
|---------------------------------------------------------------------|--------|-----------------------------|------------|
| (Dollars in thousands, except share and earnings per share amounts) |   | 2011                        |       |   | 2010 |   |
| Net Income                                                          |   | $                           | 2,142      |   |   | $ | 1,427 |   |
|                                                                |   |                        |       |   |   |   |   |   |
| Weighted average shares outstanding                                 |   |                        | 13,329,603 |   |   |   | 13,154,781 |   |
| Stock options (dilutive only)                                       |   |                        | 10,667     |   |   |   | 4,545 |   |
| Stock subscribed (ESPP)                                             |   |                        | 1,601      |   |   |   | - |   |
| Total dilutive shares outstanding                                   |   |                        | 13,341,871 |   |   |   | 13,159,326 |   |
|                                                                |   |                        |       |   |   |   |   |   |
| Earnings per share:                                                 |   |                        |       |   |   |   |   |   |
|     Basic                                       |   | $                           | 0.16       |   |   | $ | 0.11 |   |
|     Diluted                                     |   | $                           | 0.16       |   |   | $ | 0.11 |   |
|                                                                |   |                        |       |   |   |   |   |   |
| Dividends per share                                                 |   | $                           | 0.135      |   |   | $ | 0.13 |   |

| Shares outstanding on record date |   | 2011   |       |   | 2010   |   |
|-----------------------------------|--------|--------|------------|--------|--------|--------|
| First quarter (February 15)       |   |   | 13,311,817 |   |   |   | 13,120,514 |   |

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Table of Contents

|                                                      |   | Unrecognized  |   |   | Unrecognized  |   |   | Unrecognized |   |   | Unrealized     |   |   | Accumulated Other |   |
|-----------------------------------------------------------|--------|---------------|--------|--------|---------------|--------|--------|--------------|--------|--------|----------------|--------|--------|-------------------|--------|
|                                                      |   | Net Actuarial |   |   | Prior Service |   |   | Transition   |   |   | Gain/(Loss)    |   |   | Comprehensive     |   |
| (Dollars in thousands)                                    |   | Loss (1)      |   |   | Credit (1)    |   |   | Asset (1)    |   |   | on Derivatives |   |   | Income/(Loss)     |   |
| December 31, 2010                                         |   | $             | (3,651 | )      |          | $      | 180    |         |   | $      | (73            | )      |   | $                 | (651   | ) |   |   | (4,195 | ) |
| 2011 Q1 Activity                                          |   |          |   |   |          |   |   |         |   |   |           |   |   |              | 204    |   |   |   | 204 |   |
| Q1 Net Periodic Benefit Cost                              |   |          | 64     |   |          |   | (8     | )            |   |   | 9              |   |   |              |   |   |   |   | 65 |   |
| March 31, 2011                                            |   | $             | (3,587 | )      |          | $      | 172    |         |   | $      | (64            | )      |   | $                 | (447   | ) |   | $ | (3,926 | ) |
|                                                      |   |          |   |   |          |   |   |         |   |   |           |   |   |              |   |   |   |   |   |   |
| (1) Amounts pertain to our post-retirement benefit plans. |   |          |   |   |          |   |   |         |   |   |           |   |   |              |   |   |   |

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Table of Contents

|                             |   |         |   | As of March 31, 2011 |   |   | As of December 31, 2010 |   |
|----------------------------------|--------|--------------|--------|----------------------|--------|--------|-------------------------|--------|
|                             |   |         |   | Gross Carrying       |   |   | Accumulated             |   |   | Gross Carrying |   |   | Accumulated |   |
| (Dollars in thousands)           |   | Useful Lives |   | Amount               |   |   | Amortization            |   |   | Amount |   |   | Amortization |   |
| Definite-Lived Intangible Assets |   |         |   |                 |   |   |                    |   |   |   |   |   |   |   |
| Customer relationships           |   | 1 - 8 years  |   | $                    | 5,299  |   |                    | $      | 4,585 |   |   | $ | 5,299 |   |   | $ | 4,532 |   |
|   Other intangibles         |   | 1 - 5 years  |   |                 | 2,830  |   |                    |   | 964 |   |   |   | 2,830 |   |   |   | 929 |   |
| Total                            |   |         |   | $                    | 8,129  |   |                    | $      | 5,549 |   |   | $ | 8,129 |   |   | $ | 5,461 |   |

| (Dollars in thousands)                     |   |     |   |   |    |   |    | Corporate and |   |   |         |   |
|--------------------------------------------|--------|----------|--------|--------|---------|--------|---------|---------------|--------|--------|--------------|--------|
| Three Months Ended March 31, 2011          |   | Business |   |   | Telecom |   |    | Eliminations  |   |   | Consolidated |   |
| Revenue from unaffiliated customers        |   | $        | 21,285 |   |    | $      | 17,337  |          |   | $      | -            |   |   | $ | 38,622 |   |
| Intersegment revenue                       |   |     | 161    |   |    |   | 412     |          |   |   | (573         | )      |   |   | - |   |
|    Total operating revenue  |   |     | 21,446 |   |    |   | 17,749  |          |   |   | (573         | )      |   |   | 38,622 |   |
|                                       |   |     |   |   |    |   |    |          |   |   |         |   |   |   |   |   |
| Depreciation and amortization              |   |     | 1,654  |   |    |   | 4,003   |          |   |   | 22           |   |   |   | 5,679 |   |
| Operating income (loss)                    |   |     | 1,983  |   |    |   | 2,901   |          |   |   | (218         | )      |   |   | 4,666 |   |
| Interest expense                           |   |     | -      |   |    |   | 18      |          |   |   | 1,050        |   |   |   | 1,068 |   |
| Income tax provision (benefit)             |   |     | 806    |   |    |   | 1,168   |          |   |   | (508         | )      |   |   | 1,466 |   |
| Net Income (loss)                          |   |     | 1,178  |   |    |   | 1,716   |          |   |   | (752         | )      |   |   | 2,142 |   |
| Total assets                               |   |     | 84,127 |   |    |   | 129,109 |          |   |   | 15,641       |   |   |   | 228,877 |   |
| Property, plant and equipment, net         |   |     | 56,107 |   |    |   | 97,008  |          |   |   | 146          |   |   |   | 153,261 |   |
| Additions to property, plant and equipment |   |     | 1,812  |   |    |   | 1,930   |          |   |   | -            |   |   |   | 3,742 |   |

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Table of Contents

| (Dollars in thousands)                     |   |     |   |   |    |   |    | Corporate and |   |   |         |   |
|--------------------------------------------|--------|----------|--------|--------|---------|--------|---------|---------------|--------|--------|--------------|--------|
| Three Months Ended March 31, 2010          |   | Business |   |   | Telecom |   |    | Eliminations  |   |   | Consolidated |   |
| Revenue from unaffiliated customers        |   | $        | 21,354 |   |    | $      | 17,366  |          |   | $      | -            |   |   | $ | 38,720 |   |
| Intersegment revenue                       |   |     | 133    |   |    |   | 429     |          |   |   | (562         | )      |   |   | - |   |
|    Total operating revenue  |   |     | 21,487 |   |    |   | 17,795  |          |   |   | (562         | )      |   |   | 38,720 |   |
|                                       |   |     |   |   |    |   |    |          |   |   |         |   |   |   |   |   |
| Depreciation and amortization              |   |     | 1,364  |   |    |   | 4,016   |          |   |   | 31           |   |   |   | 5,411 |   |
| Operating income (loss)                    |   |     | 1,907  |   |    |   | 2,825   |          |   |   | (272         | )      |   |   | 4,460 |   |
| Interest expense                           |   |     | -      |   |    |   | 25      |          |   |   | 1,566        |   |   |   | 1,591 |   |
| Income tax provision (benefit)             |   |     | 810    |   |    |   | 1,398   |          |   |   | (729         | )      |   |   | 1,479 |   |
| Net Income (loss)                          |   |     | 1,122  |   |    |   | 1,406   |          |   |   | (1,101       | )      |   |   | 1,427 |   |
| Total assets                               |   |     | 76,249 |   |    |   | 138,233 |          |   |   | 6,653        |   |   |   | 221,135 |   |
| Property, plant and equipment, net         |   |     | 47,598 |   |    |   | 103,776 |          |   |   | 252          |   |   |   | 151,626 |   |
| Additions to property, plant and equipment |   |     | 2,064  |   |    |   | 1,365   |          |   |   | -            |   |   |   | 3,429 |   |

|                              |   |   |    |   | Weighted Average |   |
|-----------------------------------|--------|--------|---------|--------|------------------|--------|
|                              |   | Shares |    |   | Exercise Price   |   |
| Outstanding at January 1, 2011    |   |   | 343,250 |   |             | $      | 12.45 |   |
|     Granted   |   |   | -       |   |             |   | - |   |
|     Exercised |   |   | -       |   |             |   | - |   |
|     Forfeited |   |   | -       |   |             |   | - |   |
|     Expired   |   |   | (35,000 | )      |             |   | 7.21 |   |
| Outstanding at March 31, 2011     |   |   | 308,250 |   |             | $      | 11.82 |   |
| Exercisable at March 31, 2011     |   |   | 308,250 |   |             | $      | 11.82 |   |

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| Range of                   |            |   | Stock Options |   |    | Stock Options |   |   | Weighted Average |   |   | Weighted Average Remaining |   |
|----------------------------|-----------------|--------|---------------|--------|---------|---------------|--------|--------|------------------|--------|--------|----------------------------|--------|
| Exercise Prices            |            |   | Outstanding   |   |    | Exercisable   |   |   | Exercise Price   |   |   | Contractual Life           |   |
|                       | $6.00 - $8.00   |   |          |   | 15,000  |          |   |   | 15,000           |   |   | $                          | 6.95   |   |   |   | 5.42 |   |
|                       | $8.00 - $12.00  |   |          |   | 156,950 |          |   |   | 156,950          |   |   |                       | 10.22  |   |   |   | 2.68 |   |
|                       | $12.00 - $16.00 |   |          |   | 126,000 |          |   |   | 126,000          |   |   |                       | 13.97  |   |   |   | 0.73 |   |
|                       | $16.00 - $21.00 |   |          |   | 10,300  |          |   |   | 10,300           |   |   |                       | 16.98  |   |   |   | 0.67 |   |
|                       |            |   |          |   | 308,250 |          |   |   | 308,250          |   |   | $                          | 11.82  |   |   |   | 1.95 |   |
|                       |            |   |          |   |    |          |   |   |             |   |   |                       |   |   |   |   |   |   |
| Aggregate intrinsic value: |            |   |          |   |    |          |   |   |             |   | $      | 56,300                     |   |   |   |   |   |

| ·   | Level 1 – quoted prices in active markets for identical assets and liabilities. |
|--------------------|---------------------------------------------------------------------------------------|

| ·   | Level 2 – observable inputs other than quoted prices in active markets for identical assets and liabilities. |
|--------------------|--------------------------------------------------------------------------------------------------------------------|

| ·   | Level 3 – unobservable inputs in which there is little or no market data available, which require the reporting entity to develop its own assumptions. |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (Dollars in thousands)     |   | Gain Reported in Accumulated |   |                                   |   | Amount of Gain/Proceeds                                 |
|---------------------------------|--------|------------------------------|--------|----------------------------------------|--------|---------------------------------------------------------|
| Derivative Instruments in       |   | Other Comprehensive Loss     |   | Location of Gain/Proceeds Reclassified |   | Recognized in Income on Derivative                      |
| Cash Flow Hedging Relationships |   | 2011                         |   | 2010                                   |   | from Accumulated Other Comprehensive Income into Income |   | 2011 |   | 2010 |
|                            |   |                         |   |                                   |   |                                                    |   |   |   |   |
| Interest Rate Contracts         |   |  $204                   |   |  $168                             |   | Interest Expense                                        |   |  $- |   |  $- |

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|                                                         |   |   Three Months Ended March 31 |       |
|--------------------------------------------------------------|--------|------------------------------------|------------|
| (Dollars in thousands)                                       |   |   2011                        |       |  2010 |   |
| Components of net periodic benefit cost                      |   |                               |       |   |   |   |   |
| Service cost                                                 |   | $                                  | 127        |   | $  |  113 |   |
| Interest cost                                                |   |                               |  200  |   |   |  181 |   |
| Amortization of transition obligation                        |   |                               |  15   |   |   |  15 |   |
| Amortization of prior service cost                           |   |                               |  (14) |   |   |  (14) |   |
| Recognized net actuarial loss                                |   |                               |  107  |   |   |  98 |   |
| Net periodic benefit cost                                    |   | $                                  | 435        |   | $  |  393 |   |
|                                                         |   |                               |       |   |   |   |   |
|                                                         |   |                               |       |   |   |   |   |
| Employer's contributions for current premiums:               |   |                               |       |   |   | March 31, 2011 |   |
| Contributions made for the three months ended March 31, 2011 |   |                               |       |   | $  |  88 |   |
| Expected contributions for remainder of 2011                 |   |                               |       |   |   |  259 |   |
| Total estimated employer contributions for fiscal year 2011  |   |                               |       |   | $  |  347 |   |

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| BUSINESS SECTOR                                                       |   |
|-----------------------------------------------------------------------|--------|
|                                                                  |   |   |   |   |   |   |   |   |   |
|                                                                  |   | Three Months Ended March 31 |   |   | % |   |
| (Dollars in thousands)                                                |   | 2011 |   |   | 2010 |   |   | Change |   |
| Operating revenue before intersegment eliminations                    |   |   |   |   |   |   |   |   |   |
| Equipment                                                             |   | $ | 8,195 |   |   | $ | 9,884 |   |   |   | -17 | % |
| Support Services                                                      |   |   | 2,229 |   |   |   | 1,857 |   |   |   | 20 | % |
|    Equipment                                           |   |   | 10,424 |   |   |   | 11,741 |   |   |   | -11 | % |
|                                                                  |   |   |   |   |   |   |   |   |   |   |   |   |
| Fiber and Data                                                        |   |   | 10,861 |   |   |   | 9,613 |   |   |   | 13 | % |
| Intersegment                                                          |   |   | 161 |   |   |   | 133 |   |   |   | 21 | % |
| Total operating revenue                                               |   | $ | 21,446 |   |   | $ | 21,487 |   |   |   | 0 | % |
|                                                                  |   |   |   |   |   |   |   |   |   |   |   |   |
| Total Business revenue before intersegment eliminations               |   |   |   |   |   |   |   |   |   |   |   |   |
|    Unaffiliated customers                              |   | $ | 21,285 |   |   | $ | 21,354 |   |   |   |   |   |
|    Intersegment                                        |   |   | 161 |   |   |   | 133 |   |   |   |   |   |
|                                                                  |   |   | 21,446 |   |   |   | 21,487 |   |   |   |   |   |
|                                                                  |   |   |   |   |   |   |   |   |   |   |   |   |
| Cost of sales  (excluding depreciation and amortization)    |   |   | 6,999 |   |   |   | 8,475 |   |   |   | -17 | % |
| Cost of services  (excluding depreciation and amortization) |   |   | 7,499 |   |   |   | 6,699 |   |   |   | 12 | % |
| Selling, general and administrative expenses                          |   |   | 3,311 |   |   |   | 3,042 |   |   |   | 9 | % |
| Depreciation and amortization                                         |   |   | 1,654 |   |   |   | 1,364 |   |   |   | 21 | % |
|    Total Business costs and expenses                   |   |   | 19,463 |   |   |   | 19,580 |   |   |   | -1 | % |
|                                                                  |   |   |   |   |   |   |   |   |   |   |   |   |
| Operating income                                                      |   | $ | 1,983 |   |   | $ | 1,907 |   |   |   | 4 | % |
| Net income                                                            |   | $ | 1,178 |   |   | $ | 1,122 |   |   |   | 5 | % |
|                                                                  |   |   |   |   |   |   |   |   |   |   |   |   |
| Capital expenditures                                                  |   | $ | 1,812 |   |   | $ | 2,064 |   |   |   | -12 | % |

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| BUSINESS PRODUCT LINE REPORTING                                       |   |
|-----------------------------------------------------------------------|--------|
|                                                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                  |   | Three Months Ended March 31 |   |   |   |   |   | Three Months Ended March 31 |   |   |   |   |
|                                                                  |   | Equipment |   |   | % |   |   | Fiber and Data |   |   | % |   |
| (Dollars in thousands)                                                |   | 2011 |   |   | 2010 |   |   | Change |   |   | 2011 |   |   | 2010 |   |   | Change |   |
| Operating revenue before intersegment eliminations:                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Equipment                                                             |   | $ | 8,195 |   |   | $ | 9,884 |   |   |   | -17 | % |   | $ | - |   |   | $ | - |   |   |  0 | %  |
| Service                                                               |   |   | 2,229 |   |   |   | 1,857 |   |   |   | 20 | % |   |   | 10,861 |   |   |   | 9,613 |   |   |   | 13 | % |
| Intersegment                                                          |   |   | - |   |   |   | - |   |   |   |   |   |   |   | 161 |   |   |   | 133 |   |   |   | 21 | % |
| Total operating revenue                                               |   | $ | 10,424 |   |   | $ | 11,741 |   |   |   | -11 | % |   | $ | 11,022 |   |   | $ | 9,746 |   |   |   | 13 | % |
|                                                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Cost of sales  (excluding depreciation and amortization)    |   |   | 6,999 |   |   |   | 8,475 |   |   |   | -17 | % |   |   | - |   |   |   | - |   |   |   | 0 | % |
| Cost of services  (excluding depreciation and amortization) |   |   | 1,678 |   |   |   | 1,719 |   |   |   | -2 | % |   |   | 5,821 |   |   |   | 4,980 |   |   |   | 17 | % |
| Selling, general and administrative expenses                          |   |   | 1,181 |   |   |   | 1,123 |   |   |   | 5 | % |   |   | 2,130 |   |   |   | 1,919 |   |   |   | 11 | % |
| Depreciation and amortization                                         |   |   | 68 |   |   |   | 73 |   |   |   | -7 | % |   |   | 1,586 |   |   |   | 1,291 |   |   |   | 23 | % |
|    Total costs and expenses                            |   |   | 9,926 |   |   |   | 11,390 |   |   |   | -13 | % |   |   | 9,537 |   |   |   | 8,190 |   |   |   | 16 | % |
|                                                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Operating income                                                      |   | $ | 498 |   |   | $ | 351 |   |   |   | 42 | % |   | $ | 1,485 |   |   | $ | 1,556 |   |   |   | -5 | % |
| Net income                                                            |   | $ | 295 |   |   | $ | 224 |   |   |   | 32 | % |   | $ | 883 |   |   | $ | 898 |   |   |   | -2 | % |
|                                                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Capital expenditures                                                  |   | $ | 6 |   |   | $ | 85 |   |   |   | -93 | % |   | $ | 1,806 |   |   | $ | 1,979 |   |   |   | -9 | % |

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| TELECOM SECTOR                                             |   |
|------------------------------------------------------------|--------|
|                                                       |   |   |   |   |   |   |   |   |   |
|                                                       |   | Three Months Ended March 31 |   |   | % |   |
| (Dollars in thousands)                                     |   | 2011 |   |   | 2010 |   |   | Change |   |
| Operating revenue before intersegment eliminations         |   |   |   |   |   |   |   |   |   |
|     Local Service                      |   | $ | 3,693 |   |   | $ | 3,864 |   |   |   | -4 | % |
|     Network Access                     |   |   | 5,812 |   |   |   | 6,128 |   |   |   | -5 | % |
|     Long Distance                      |   |   | 729 |   |   |   | 820 |   |   |   | -11 | % |
|     Broadband                          |   |   | 5,054 |   |   |   | 4,433 |   |   |   | 14 | % |
|     Directory                          |   |   | 872 |   |   |   | 917 |   |   |   | -5 | % |
|     Bill Processing                    |   |   | 737 |   |   |   | 775 |   |   |   | -5 | % |
|     Intersegment                       |   |   | 412 |   |   |   | 429 |   |   |   | -4 | % |
|     Other                              |   |   | 440 |   |   |   | 429 |   |   |   | 3 | % |
| Total Telecom operating revenue                            |   | $ | 17,749 |   |   | $ | 17,795 |   |   |   | 0 | % |
|                                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| Total Telecom revenue before intersegment eliminations     |   |   |   |   |   |   |   |   |   |   |   |   |
|    Unaffiliated customers                   |   | $ | 17,337 |   |   | $ | 17,366 |   |   |   |   |   |
|    Intersegment                             |   |   | 412 |   |   |   | 429 |   |   |   |   |   |
|                                                       |   |   | 17,749 |   |   |   | 17,795 |   |   |   |   |   |
|                                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| Cost of services (excluding depreciation and amortization) |   |   | 7,761 |   |   |   | 8,004 |   |   |   | -3 | % |
| Selling, general and administrative expenses               |   |   | 3,084 |   |   |   | 2,950 |   |   |   | 5 | % |
| Depreciation and amortization                              |   |   | 4,003 |   |   |   | 4,016 |   |   |   | 0 | % |
|    Total Telecom costs and expenses         |   |   | 14,848 |   |   |   | 14,970 |   |   |   | -1 | % |
|                                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| Operating Income                                           |   | $ | 2,901 |   |   | $ | 2,825 |   |   |   | 3 | % |
|                                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| Net income                                                 |   | $ | 1,716 |   |   | $ | 1,406 |   |   |   | 22 | % |
|                                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| Capital expenditures                                       |   | $ | 1,930 |   |   | $ | 1,365 |   |   |   | 41 | % |
|                                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| Key metrics                                                |   |   |   |   |   |   |   |   |   |   |   |   |
|     Business access lines              |   |   | 23,932 |   |   |   | 24,902 |   |   |   | -4 | % |
|     Residential access lines           |   |   | 26,678 |   |   |   | 29,596 |   |   |   | -10 | % |
| Total access lines                                         |   |   | 50,610 |   |   |   | 54,498 |   |   |   | -7 | % |
| Long distance customers                                    |   |   | 33,513 |   |   |   | 35,731 |   |   |   | -6 | % |
| Digital Subscriber Line customers                          |   |   | 20,032 |   |   |   | 19,494 |   |   |   | 3 | % |
| Digital TV customers                                       |   |   | 10,591 |   |   |   | 9,789 |   |   |   | 8 | % |

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|                                   |   | Three Months Ended March 31 |   |
|----------------------------------------|--------|-----------------------------|--------|
| (Dollars in thousands)                 |   | 2011                        |   |   | 2010 |   |
| Net cash provided by (used for):       |   |                        |   |   |   |   |
|    Operating activities |   | $                           | 16,897 |   |   | $ | 2,291 |   |
|    Investing activities |   |                        | (3,673 | ) |   |   | (3,276 | ) |
|    Financing activities |   |                        | (3,438 | ) |   |   | (1,373 | ) |
| Increase in cash and cash equivalents  |   |                        | 9,786  |   |   |   | (2,358 | ) |

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Item 3.

Item 4. 

Part II  Other Information

Item 1. 

Item 1A. 

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Item 2.

Item 3

Item 4

Item 5. 

Item 6. 

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Signatures

| HICKORY TECH CORPORATION |
|--------------------------|

| By:  /s/ John W. Finke                     |
|------------------------------------------------------|
| John W. Finke, President and Chief Executive Officer |

| By:  /s/ David A. Christensen_                                |
|-------------------------------------------------------------------------|
| David A. Christensen, Senior Vice President and Chief Financial Officer |

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