Document:

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HEARTLAND NATIONAL BANK
Salary Continuation Agreement

                             HEARTLAND NATIONAL BANK
                          SALARY CONTINUATION AGREEMENT

      THIS SALARY CONTINUATION AGREEMENT (the "Agreement") is adopted this 3 day
of January, 2005, by and between HEARTLAND NATIONAL BANK, a
nationally-chartered commercial bank located in Sebring, Florida (the
"Company"), and JAMES BELFLOWER (the "Executive").

      The purpose of this Agreement is to provide specified benefits to the
Executive, a member of a select group of management or highly compensated
employees who contribute materially to the continued growth, development and
future business success of the Company. This Agreement shall be unfunded for tax
purposes and for purposes of Title I of the Employee Retirement Income Security
Act of 1974 ("ERISA"), as amended from time to time. The Company will pay the
benefits from its general assets.

      The Company and the Executive agree as provided herein.

                                    ARTICLE 1
                                   DEFINITIONS

      Whenever used in this Agreement, the following words and phrases shall
have the meanings specified:

1.1   "Accrual Balance" means the liability that should be accrued by the
      Company, under Generally Accepted Accounting Principles ("GAAP"), for the
      Company's obligation to the Executive under this Agreement, by applying
      Accounting Principles Board Opinion Number 12 ("APB 12") as amended by
      Statement of Financial Accounting Standards Number 106 ("FAS 106") and the
      Discount Rate. Any one of a variety of amortization methods way be used to
      determine the Accrual Balance. However, once chosen, the method must be
      consistently applied. The Accrual Balance shall be reported by the Company
      to the Executive on Schedule A.

1.2   "Beneficiary" means each designated person, or the estate of the deceased
      Executive, entitled to benefits, if any, upon the death of the Executive
      determined pursuant to Article 4.

1.3   "Beneficiary Designation Form" means the form established from time to
      time by the Plan Administrator that the Executive completes, signs and
      returns to the Plan Administrator to designate one or more Beneficiaries.

1.4   "Board" means the boards of directors of the Corporation and the Company.

1.5   "Change of Control" means (i) a merger in which the Corporation is not the
      surviving entity, the acquisition of the Company by means of a merger,
      consolidation or purchase of 80% or more of its outstanding shares, or
      the acquisition by any individual or group of beneficial ownership of more
      than 50% of the outstanding shares of the Corporation's

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HEARTLAND NATIONAL BANK
Salary Continuation Agreement

      common stock. The term "group" and the concept of beneficial ownership
      shall have such meaning ascribed thereto as set forth in the Securities
      Exchange act of 1934, as amended, and the regulations and rules
      thereunder, or (ii) if more restrictive, the definition in Section 409A
      of the Code and regulations thereunder.

1.6   "Code" means the Internal Revenue Code of 1986, as amended.

1.7   "Corporation" means Heartland Bancshares, Inc.

1.8   "Disability" means the Executive's suffering a sickness, accident or
      injury which has been determined by the insurance carrier of any
      individual or group disability insurance policy covering the Executive, or
      by the Social Security Administration, to be a disability rendering the
      Executive totally and permanently disabled. The Executive must submit
      proof to the Plan Administrator of the insurance carrier's or Social
      Security Administration's determination upon the request of the Plan
      Administrator.

1.9   "Discount Rate" means the rate used by the Plan Administrator for
      determining the Accrual Balance. The initial Discount Rate is six and
      one-quarter percent (6.25%). However, the Plan Administrator, in its sole
      discretion, may adjust the Discount Rate to maintain the rate within
      reasonable standards according to GAAP.

1.10  "Early Termination" means the Termination of Employment before Normal
      Retirement Age for reasons other than death, Disability, Termination for
      Cause, Termination for Good Reason, or following a Change of Control.

1.11  "Early Termination Date" means the month, day and year in which Early
      Termination occurs.

1.12  "Effective Date" means January 1, 2005.

1.13  "Employment Agreement" means the Employment Agreement between the Company,
      the Corporation and the Executive dated November 9, 2004.

1.14  "Final Pay" means the Executive's highest base annual salary for the
      period of three years prior to Termination of Employment.

1.15  "Normal Retirement Age" means the Executive's sixty-second (62nd)
      birthday.

1.16  "Normal Retirement Date" means the later of the Normal Retirement Age or
      Termination of Employment.

1.17  "Plan Administrator" means the plan administrator described in Article 8.

1.18  "Plan Year" means a twelve-month period commencing on January 1 and ending
      on December 31 of each year. The initial Plan Year shall commence on the
      Effective Date of this Agreement.

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HEARTLAND NATIONAL BANK
Salary Continuation Agreement

1.19  "Projected Benefit" means thirty percent (30%) of Projected Final Pay.

1.20  "Projected Final Pay" means Final Pay increased four percent (4%)
      annually, until Normal Retirement Age.

1.21  "Termination for Cause" has that meaning set forth in Article 5.

1.22  "Termination for Good Reason" shall mean (i) any material breach by the
      Company and the Corporation of any provision of the Employment Agreement,
      or (ii) any significant reduction (not pertaining to job performance
      issues), in the duties, responsibilities, authority or title of the
      Executive as an officer of the Company and the Corporation.

1.23  "Termination of Employment" means that the Executive ceases to be employed
      by the Company for any reason, voluntary or involuntary, including death,
      other than by reason of a leave of absence approved by the Company.

                                    ARTICLE 2
                            BENEFITS DURING LIFETIME

2.1   Normal Retirement Benefit. Upon Termination of Employment on or after the
      Normal Retirement Age for reasons other than death, the Company shall pay
      to the Executive the benefit described in this Section 2.1 in lieu of any
      other benefit under this Article.

      2.1.1 Amount of Benefit. The annual benefit under this Section 2.1 is
            thirty percent (30%) of Final Pay.

      2.1.2 Payment of Benefit. The Company shall pay the annual benefit to the
            Executive in twelve (12) equal monthly installments commencing on
            the first day of the month following the Executive's Normal
            Retirement Date. The annual benefit shall be paid to the Executive
            for fifteen (15) years.

2.2   Early Termination Benefit. Upon Early Termination, the Company shall pay
      to the Executive the benefit described in this Section 2.2 in lieu of any
      other benefit under this Article.

      2.2.1 Amount of Benefit. The annual benefit under this Section 2.2 is the
            Early Termination Benefit set forth on Schedule A for the Plan Year
            during which the Early Termination Date occurs. This benefit is
            determined by vesting the Executive in twenty percent (20%) of the
            Accrual Balance for the first Plan Year, and an additional twenty
            percent (20%) of said amount for each succeeding year thereafter
            until the Executive becomes one hundred percent (100%) vested in the
            Accrual Balance.

      2.2.2 Payment of Benefit. The Company shall pay the benefit to the
            Executive in one hundred eighty (180) equal monthly installments
            commencing with the month following Normal Retirement Age.

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HEARTLAND NATIONAL BANK
salary continuation agreement

2.3   Disability Benefit. Upon Termination of Employment due to Disability prior
      to Normal Retirement Age, the Company shall pay to the Executive the
      benefit described in this Section 2.3 in lieu of any other benefit under
      this Article.

      2.3.1 Amount of Benefit. The annual benefit under this Section 2.3 is the
            Disability Benefit set forth on Schedule A for the Plan Year during
            which the date Termination of Employment occurs. This benefit is
            determined by vesting the Executive in one hundred percent (100%) of
            the Accrual Balance.

      2.3.2 Payment of Benefit. The Company shall pay the benefit to the
            Executive in one hundred eighty (180) equal monthly installments
            commencing with the month following Normal Retirement Age.

2.4   Change of Control Benefit. Upon a Change of Control followed by the
      Executive's Termination of Employment, the Company shall pay to the
      Executive the benefit described in this Section 2.4 in lieu of any other
      benefit under this Article.

      2.4.1 Amount of Benefit. The annual benefit under this Section 2.4 is the
            Change of Control Benefit set forth on Schedule A for the Plan Year
            during which Termination of Employment occurs. This benefit is
            determined by vesting the Executive in one hundred percent (100%) of
            the Projected Benefit.

      2.4.2 Payment of Benefit. The Company shall pay the annual benefit to the
            Executive in twelve (12) equal monthly installments commencing the
            month following the Normal Retirement Age. The annual benefit shall
            be paid to the Executive for fifteen (15) years.

2.5   Termination for Good Reason Benefit. Upon Termination for Good Reason, the
      Company shall pay to the Executive the benefit described in this Section
      2.5 in lieu of any other benefit under this Article.

      2.5.1 Amount of Benefit. The annual benefit under this Section 2.5 is the
            Termination for Good Reason Benefit set forth on Schedule A for the
            Plan Year during which the Early Termination Date occurs. This
            benefit is determined by vesting the Executive in one hundred
            percent (100%) of the Accrual Balance.

      2.5.2 Payment of Benefit. The Company shall pay the benefit to the
            Executive in one hundred eighty (180) equal monthly installments
            commencing with the month following Normal Retirement Age.

                                    ARTICLE 3
                                 DEATH BENEFITS

3.1   Death During Active Service. If the Executive dies while in the active
      service of the Company, the Company shall pay to the Beneficiary the
      benefit described in this Section 3.1. This benefit shall be paid in lieu
      of the benefits under Article 2.

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HEARTLAND NATIONAL BANK
Salary Continuation Agreement

      3.1.1 Amount of Benefit. The benefit under this Section 2.3 is the
            Pre-Retirement Death Benefit set forth on Schedule A for the Plan
            Year in which the Executive dies. This benefit is determined by
            vesting the Executive's Beneficiary in one hundred percent (100%) of
            the Accrual Balance.

      3.1.2 Payment of Benefit. The Company shall pay the lump sum benefit to
            the Executive's beneficiary within 30 days following the Executive's
            death.

3.2   Death During Payment of a Benefit. If the Executive dies after any
      benefit payments have commenced under Article 2 of this Agreement but
      before receiving all such payments, the Company shall pay the remaining
      benefits to the Beneficiary at the same time and in the same amounts they
      would have been paid to the Executive had the Executive survived.

3.3   Death After Termination of Employment But Before Payment of a Benefit
      Commences. If the Executive is entitled to any benefit payments under
      Article 2 of this Agreement, but dies prior to the commencement of said
      benefit payments, the Company shall pay the same benefit payments to the
      Beneficiary that the Executive was entitled to prior to death except that
      the benefit payments shall commence on the first day of the month
      following the date of the Executive's death.

                                    ARTICLE 4
                                 BENEFICIARIES

4.1   Beneficiary Designation. The Executive shall have the right, at any time,
      to designate a Beneficiary(ies) to receive any benefits payable under this
      Agreement upon the death of the Executive. The Beneficiary designated
      under this Agreement may be the same as or different from the beneficiary
      designation under any other benefit plan of the Company in which the
      Executive participates.

4.2   Beneficiary Designation: Change. The Executive shall designate a
      Beneficiary by completing and signing the Beneficiary Designation Form,
      and delivering it to the Plan Administrator or its designated agent. The
      Executive's Beneficiary designation shall be deemed automatically revoked
      if the Beneficiary predeceases the Executive or if the Executive names a
      spouse as Beneficiary and the marriage is subsequently dissolved. The
      Executive shall have the right to change a Beneficiary by completing,
      signing and otherwise complying with the terms of the Beneficiary
      Designation Form and the Plan Administrator's rules and procedures, as in
      effect from time to time. Upon the acceptance by the Plan Administrator of
      a new Beneficiary Designation Form, all Beneficiary designations
      previously filed shall be cancelled. The Plan Administrator shall be
      entitled to rely on the last Beneficiary Designation Form filed by the
      Executive and accepted by the Plan Administrator prior to the Executive's
      death.

4.3   Acknowledgment. No designation or change in designation of a Beneficiary
      shall be effective until received, accepted and acknowledged in writing by
      the Plan Administrator or its designated agent.

4.4   No Beneficiary Designation. If the Executive dies without a valid
      beneficiary designation,

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HEARTLAND NATIONAL BANK
Salary Continuation Agreement

      or if all designated Beneficiaries predecease the Executive, then the
      Executive's spouse shall be the designated Beneficiary. If the Executive
      has no surviving spouse, the benefits shall be made to the personal
      representative of the Executive's estate.

4.5   Facility of Payment. If the Plan Administrator determines in its
      discretion that a benefit is to be paid to a minor, to a person declared
      incompetent, or to a person incapable of handling the disposition of that
      person's property, the Plan Administrator may direct payment of such
      benefit to the guardian, legal representative or person having the care or
      custody of such minor; incompetent person or incapable person. The Plan
      Administrator may require proof of incompetence, minority or guardianship
      as it may deem appropriate prior to distribution of the benefit. Any
      payment of a benefit shall be a payment for the account of the Executive
      and the Executive's Beneficiary, as the case may be, and shall be a
      complete discharge of any liability under the Agreement for such payment
      amount.

                                    ARTICLE 5
                               GENERAL LIMITATIONS

5.1   Termination for Cause. Notwithstanding any provision of this Agreement to
      the contrary, the Company shall not pay any benefit under this Agreement
      if the Board terminates the Executive's employment for any of the
      following:

      (a)   If the Executive shall fail or refuse to comply with the obligations
            required of him as set forth in the Employment Agreement or comply
            with the policies of the Company and the Corporation established by
            the Board from time to time; provided, however, that for the first
            such failure or refusal, the Executive shall be given written
            warning (providing at least a 10 day period for an opportunity to
            cure), and the second failure or refusal shall be grounds for
            Termination for Cause;

      (b)   If the Executive shall have engaged in conduct involving fraud,
            deceit, personal dishonesty or breach of fiduciary duty;

      (c)   If the Executive shall have violated any bank law or regulation,
            memorandum of understanding, cease and desist order, or other
            agreement with any banking agency having jurisdiction over the
            Company and the Corporation which, in the judgment of the Board, has
            adversely affected or may adversely affect, the business or
            reputation of the Company and the Corporation as determined by the
            Board;

      (d)   If the Executive shall have become subject to continuing
            intemperance in the use of alcohol or drugs which has adversely
            affected, or may adversely affect, the business or reputation of the
            Company and the Corporation as determined by the Board;

      (e)   If the Executive shall have filed, or has filed against him, any
            petition under the federal bankruptcy law or any state insolvency
            laws; or

      (f)   If any banking authority having supervisory jurisdiction over the
            Company or the Corporation initiates any proceedings for removal of
            the Executive.

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HEARTLAND NATIONAL BANK
Salary Continuation Agreement

5.2   Suicide or Misstatement. The Company shall not pay any benefit under this
      Agreement if the Executive commits suicide within two years after the
      Effective Date. In addition, the Company shall not pay any benefit under
      this Agreement if the Executive has made any material misstatement of fact
      on any application for life insurance owned by the Company on the
      Executive's life.

5.3   Competition. The Company shall not pay any benefit under this Agreement if
      the Executive,without the prior written consent of the
      Company, during active service and within 1 year from the Executive's
      Termination of Employment for any reason whatsoever (but only in the case
      where the employment of the Executive is terminated pursuant to Sections
      8(a) or (c) of the Employment Agreement), enters the employ of or have any
      interest in, directly or indirectly (either as executive, partner,
      director, officer, consultant, principal, agent or employee), any other
      bank or financial institution or any entity which either accepts deposits
      or makes loans (whether presently existing or subsequently established)
      and which has an office located within a radius of 50 miles of any office
      of the Company (a "Competitive Activity"); provided, however, that the
      foregoing shall not preclude any ownership by the Executive of an amount
      not to exceed five percent (5%) of the equity securities of any entity
      which is subject to the periodic reporting requirements of the Securities
      Exchange act of 1934 and the shares of Company and Corporation common
      stock owned by the Executive at the time of Termination of Employment.
      This section shall not apply following a Change of Control.

5.3   Nonsolicitation; Noninterference: Nondisparagement. The Company shall not
      pay any benefit under this Agreement if the Executive, without the prior
      written consent of the Company, during active service and within 1 year
      from the Executive's Termination of Employment for any reason whatsoever
      (but only in the case where the employment of the Executive is terminated
      pursuant to Sections 8(a) or (c) of the Employment Agreement), a) solicits
      for employment (by the Executive or anyone else) or employees any employee
      of the Company or the Corporation or any person, who was an employee of
      the Company or the Corporation within 12 months prior to such solicitation
      of employment; b) induces, or attempts to induce, any employee of the
      Company or the Corporation to terminate such employee's employment; c)
      induces, or attempts to induce, anyone having a business relationship with
      the Company or the Corporation to terminate or curtail such relationship
      or, on behalf of himself or anyone else, compete with the Company or the
      Corporation; or d) permits anyone controlled by the Executive, or any
      person acting on behalf of the Executive or anyone controlled by an
      employee of the Executive to do any of the foregoing. In addition, the
      Company shall not pay any benefit under this Agreement if the Executive
      disparages, denigrates or comments negatively upon, either orally or in
      writing, the Company or the Corporation, any of its affiliates, or any of
      their respective officers or directors, to or in the presence of any
      person or entity, unless compelled to act by subpoena or other legal
      mandate.

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HEARTLAND NATIONAL BANK.
Salary Continuation Agreement

                                    ARTICLE 6
                          CLAIMS AND REVIEW PROCEDURES

6.1   Claims Procedure. An Executive or Beneficiary ("claimant") who has not
      received benefits under the Agreement that he or she believes should be
      paid shall make a claim for such benefits as follows:

      6.1.1 Initiation - Written Claim. The claimant initiates a claim by
            submitting to the Plan Administrator a written claim for the
            benefits.

      6.1.2 Timing of Plan Administrator Response. The Plan Administrator shall
            respond to such claimant within 90 days after receiving the claim.
            If the Plan Administrator determines that special circumstances
            require additional time for processing the claim, the Plan
            Administrator can extend the response period by an additional 90
            days by notifying the claimant in writing, prior to the end of the
            initial 90-day period, that an additional period is required. The
            notice of extension must set forth the special circumstances and the
            date by which the Plan Administrator expects to render its decision.

      6.1.3 Notice of Decision. If the Plan Administrator denies part or all of
            the claim, the Plan Administrator shall notify the claimant in
            writing of such denial The Plan Administrator shall write the
            notification in a manner calculated to be understood by the
            claimant. The notification shall set forth:

            (a)   The specific reasons for the denial;

            (b)   A reference to the specific provisions of the Agreement on
                  which the denial is based;

            (c)   A description of any additional information or material
                  necessary for the claimant to perfect the claim and an
                  explanation of why it is needed;

            (d)   An explanation of the Agreement's review procedures and the
                  time limits applicable to such procedures; and

            (e)   A statement of the claimant's right to bring a civil action
                  under ERISA Section 502(a) following an adverse benefit
                  determination on review.

6.2   Review Procedure. If the Plan Administrator denies part or all of the
      claim, the claimant shall have the opportunity for a full and fair review
      by the Plan Administrator of the denial, as follows:

      6.2.1 Initiation - Written Request. To initiate the review, the claimant,
            within 60 days after receiving the Plan Administrator's notice of
            denial, must file with the Plan Administrator a written request for
            review.

      6.2.2 Additional Submissions - Information Access. The claimant shall then
            have the opportunity to submit written comments, documents, records
            and other information relating to the claim. The Plan Administrator
            shall also provide the claimant, upon request and free of charge,
            reasonable access to, and copies of, all documents, records and
            other information relevant (as defined in applicable ERISA

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HEARTLAND NATIONAL BANK
Salary Continuation Agreement

            regulations) to the claimant's claim for benefits.

      6.2.3 Considerations on Review. In considering the review, the Plan
            Administrator shall take into account all materials and information
            the claimant submits relating to the claim, without regard to
            whether such information was submitted or considered in the initial
            benefit determination.

      6.2.4 Timing of Plan Administrator Response. The Plan Administrator shall
            respond in writing to such claimant within 60 days after
            receiving the request for review. If the Plan Administrator
            determines that special circumstances require additional time for
            processing the claim, the Plan Administrator can extend the response
            period by an additional 60 days by notifying the claimant in
            writing, prior to the end of the initial 60-day period, that an
            additional period is required. The notice of extension must set
            forth the special circumstances and the date by which the Plan
            Administrator expects to render its decision.

      6.2.5 Notice of Decision. The Plan Administrator shall notify the claimant
            in writing of its decision on review. The Plan Administrator shall
            write the notification in a manner calculated to be understood by
            the claimant. The notification shall set forth:

            (a)   The specific reasons for the denial;

            (b)   A reference to the specific provisions of the Agreement on
                  which the denial is based;

            (c)   A statement that the claimant is entitled to receive, upon
                  request and free of charge, reasonable access to, and copies
                  of, all documents, records and other information relevant (as
                  defined in applicable ERISA regulations) to the claimant's
                  claim for benefits; and

            (d)   A statement of the claimant's right to bring a civil action
                  under ERISA Section 502(a)

                                    ARTICLE 7
                           AMENDMENTS AND TERMINATION

      This Agreement may be amended or terminated only by a written agreement
signed by the Company and the Executive. Provided, however, if the Board
determines that the Executive is no longer a member of a select group of
management or highly compensated employees, as that phrase applies to ERISA, for
reasons other than death, Disability or retirement, the Company may amend or
terminate this Agreement. Upon such amendment or termination the Company shall
pay benefits to the Executive as if Early Termination occurred on the date of
such amendment or termination, regardless of whether Early Termination actually
occurs. Additionally, the Company may also amend this Agreement to conform with
written directives to the Company from its banking regulators.

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HEARTLAND NATIONAL BANK
SALARY CONTINUATION AGREEMENT

                                    ARTICLE 8
                          ADMINISTRATION OF AGREEMENT

8.1   Plan Administrator Duties. This Agreement shall be administered by a Plan
      Administrator which shall consist of the Board, or such committee or
      person(s) as the Board shall appoint. The Executive may be a member of the
      Plan Administrator. The Plan Administrator shall also have the discretion
      and authority to (i) make, amend, interpret and enforce all appropriate
      rules and regulations for the administration of this Agreement and
      (ii) decide or resolve any and  all questions  including interpretations
      of this Agreement, as may arise in connection with the Agreement.

8.2   Agents. In the administration of this Agreement, the Plan Administrator
      may employ agents and delegate to them such administrative duties as it
      sees fit, (including acting through a duly appointed representative), and
      may from time to time consult with counsel who may be counsel to the
      Company.

8.3   Binding Effect of Decisions. The decision or action of the Plan
      Administrator with respect to any question arising out of or in connection
      with the administration, interpretation and application of the Agreement
      and the rules and regulations promulgated hereunder shall be final and
      conclusive and binding upon all persons having any interest in the
      Agreement. No Executive or Beneficiary shall be deemed to have any right,
      vested or nonvested, regarding the continued use of any previously adopted
      assumptions, including but not limited to the Discount Rate.

8.4   Indemnity of Plan Administrator. The Company shall indemnify and hold
      harmless the members of the Plan Administrator against any and all claims,
      losses, damages, expenses or liabilities arising from any action or
      failure to act with respect to this Agreement, except in the case of
      willful misconduct by the Plan Administrator or any of its members.

8.5   Company Information. To enable the Plan Administrator to perform its
      functions, the Company shall supply full and timely information to the
      Plan Administrator on all matters relating to the date and circumstances
      of the retirement, Disability, death, or Termination of Employment of the
      Executive, and such other pertinent information as the Plan Administrator
      may reasonably require.

8.6   Annual Statement. The Plan Administrator shall provide to the Executive,
      within 120 days after the end of each Plan Year, a statement setting forth
      the benefits payable under this Agreement.

                                    ARTICLE 9
                                 MISCELLANEOUS

9.1   Binding Effect. This Agreement shall bind the Executive and the Company,
      and their beneficiaries, survivors, executors, successors, administrators
      and transferees.

9.2   No Guarantee of Employment. This Agreement is not an employment policy or
      contract. It does not give the Executive the right to remain an employee
      of the Company, nor does it interfere with the Company's right to
      discharge the Executive. It also does not require

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HEARTLAND NATIONAL BANK
Salary Continuation Agreement

      the Executive to remain an employee nor interfere with the Executive's
      right to terminate employment at any time.

9.3   Non-Transferability. Benefits under this Agreement cannot be sold,
      transferred, assigned, pledged, attached or encumbered in any manner.

9.4   Tax Withholding. The Company shall withhold any taxes that, in its
      reasonable judgment, are required to be withheld from the benefits
      provided under this Agreement. The Executive acknowledges that the
      Company's sole liability regarding taxes is to  forward any amounts
      withheld to the appropriate taxing authority(ies).

9.5   Applicable Law. The Agreement and all rights hereunder shall be governed
      by the laws of the State of Florida, except to the extent preempted by the
      laws of the United States of America.

9.6   Unfunded Arrangement. The Executive and Beneficiary are general unsecured
      creditors of the Company for the payment of benefits under this Agreement.
      The benefits represent the mere promise by the Company to pay such
      benefits. The rights to benefits are not subject in any manner to
      anticipation, alienation, sale, transfer, assignment, pledge, encumbrance,
      attachment, or garnishment by creditors. Any insurance on the Executive's
      life is a general asset of the Company to which the Executive and
      Beneficiary have no preferred or secured claim.

9.7   Reorganization. The Company shall not merge or consolidate into or with
      another company, or reorganize, or sell substantially all of its assets to
      another company, firm, or person unless such succeeding or continuing
      company, firm, or person agrees to assume and discharge the obligations
      of the Company under this Agreement. Upon the occurrence of such event,
      the term "Company" as used in this Agreement shall be deemed to refer to
      the successor or survivor company.

9.8   Entire Agreement. This Agreement constitutes the entire agreement between
      the Company and the Executive as to the subject matter hereof. No rights
      are granted to the Executive by virtue of this Agreement other than those
      specifically set forth herein.

9.9   Interpretation. Wherever the fulfillment of the intent and purpose of this
      Agreement requires, and the context will permit, the use of the masculine
      gender includes the feminine and use of the singular includes the plural.

9.10  Alternative Action. In the event it shall become impossible for the
      Company or the Plan Administrator to perform any act required by this
      Agreement, the Company or Plan Administrator may in its discretion perform
      such alternative act as most nearly carries out the intent and purpose of
      this Agreement and is in the best interests of the Company.

9.11  Headings. Article and section headings are for convenient reference only
      and shall not control or affect the meaning or construction of any of its
      provisions.

9.12  Validity. In case any provision of this Agreement shall be illegal or
      invalid for any reason,

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HEARTLAND NATIONAL BANK
Salary Continuation Agreement

      said illegality or invalidity shall not affect the remaining parts hereof,
      but this Agreement shall be construed and enforced as if such illegal and
      invalid provision has never been inserted herein.

9.13  Notice. Any notice or filing required or permitted to be given to the
      Company or Plan Administrator under this Agreement shall be sufficient if
      in writing and hand-delivered, or sent by registered or certified mail, to
      the address below:

                              320 US HWY 27 North
                             Sebring Florida 33870

      Such notice shall be deemed given as of the date of delivery or, if
      delivery is made by mail, as of the date shown on the postmark on the
      receipt for registration or certification.

      Any notice or filing required or permitted to be given to the Executive
      under this Agreement shall be sufficient if in writing and hand-delivered,
      or sent by mail, to the last known address of the Executive.

      IN WITNESS WHEREOF, the Executive and a duly authorized representative of
the Company have signed this Agreement.

EXECUTIVE:                                     COMPANY:

                                               HEARTLAND NATIONAL BANK

James B. Belflower                             By Edward L. Smoak
--------------------------------------            ------------------------------
JAMES BELFLOWER
                                               Title Chairman of the Board

By execution hereof, Heartland Bancshares, Inc. consents to and agrees to be
bound by the terms and condition of this Agreement.

ATTEST:                                      HEARTLAND BANCSHARES, INC.

James C. Clinard                             By Edward L. Smoak
                                                --------------------------------
                                             Title Chairman of the Board

                                       12
<PAGE>

HEARTLAND NATIONAL BANK
Salary Continuation Agreement
BENEFICIARY DESIGNATION FORM

I, JAMES BELFLOWER. designate the following as beneficiary of benefits under the
Agreement payable following my death:

Primary:
        Sandra S. Belflower     100%

Contingent:
        James B.Belflower        50%
        Kimberly S. Provau       50%

Notes:

      -     Please PRINT CLEARLY or TYPE the names of the beneficiaries.

      -     To name a trust as beneficiary, please provide the name of the
            trustee(s) and the exact name and date of the trust agreement.

      -     To name your estate as beneficiary, please write "Estate of [your
            name]".

      -     Be aware that none of the contingent beneficiaries win receive
            anything unless ALL of the primary beneficiaries predecease you.

I understand that I may change these beneficiary designations by delivering a
new written designation to the Plan Administrator, which shall be effective only
upon receipt and acknowledgment by the Plan Administrator prior to my death. I
further understand that the designations will be automatically revoked if the
beneficiary predeceases me, or, if I have named my spouse as beneficiary and our
marriage is subsequently dissolved.

Name: JAMES B. BELFLOWER

Signature: JAMES B. BELFLOWER                 Date: 12/03/04

Received by the Plan Administrator this_______ day of ______________, 20_____

By: __________________________________

Title: _______________________________
<PAGE>

                                                             PLAN YEAR REPORTING

                                   SCHEDULE A

JAMES B. BELFLOWER

<TABLE>
<CAPTION>
DOB: 6/14/1951                            EARLY TERMINATION TERMINATION FOR GOOD   DISABILITY      CHANGE OF CONTROL  PRE-RETIRE
Plan Anniv Date; 1/1/2006                                           REASON                                               DEATH
Normal Retirement: 6/14/2013, Age 62         Installment          Installment      Installment       Installment        BENEFIT
Payment:  Monthly Installments              Payable at 62       Payable at 62     Payable at 62    Payable at 62       Lump Sum
                      BENEFIT    ACCRUAL           Based On           Based On           Based On           Based On   Based On
PERIOD     DISCOUNT   LEVEL(2)   BALANCE  Vesting  Accrual   Vesting  Accrual    Vesting Accrual   Vesting  Benefit     Accrual
ENDING       RATE       (1)        (2)      (3)      (4)       (5)      (6)       (7)      (8)       (9)      (10)       (11)
---------------------------------------------------------------------------------------------------------------------------------
<S>        <C>       <C>         <C>      <C>      <C>       <C>      <C>        <C>     <C>       <C>      <C>       <C>
Dec 2005(1) 6.25%    31,200      38,403   20%      1,255     100%     6,274      100%    6,274     100%     42,699    38,403
</TABLE>

(1)   The first tine reflects 12 months of data, January 2005 to December 2005.

(2)   The benefit amount is based on 30% of current compensation. Compensation
      is based on $104,000 initially, inflating at 4.00% each year to $142,331
      at retirement.

      IF THERE IS A CONFLICT IN ANY TERMS OR PROVISIONS BETWEEN THIS SCHEDULE A
      AND THE AGREEMENT, THE TERMS AND PROVISIONS OF THE AGREEMENT SHALL
      PREVAIL. IF A TRIGGERING EVENT OCCURS, REFER TO THE AGREEMENT TO DETERMINE
      THE ACTUAL BENEFIT AMOUNT BASED ON THE DATE OF THE EVENT.<PAGE>

                                                                    EXHIBIT 10.5

HEARTLAND NATIONAL BANK
Split Dollar Plan

                             HEARTLAND NATIONAL BANK
                                SPLIT DOLLAR PLAN

                            EFFECTIVE January 4, 2005

<PAGE>

HEARTLAND NATIONAL BANK
Split Dollar Plan

                             HEARTLAND NATIONAL BANK
                               SPLIT DOLLAR PLAN

      THIS SPLIT DOLLAR PLAN is adopted this 4 day of January, 2005, by and
between HEARTLAND NATIONAL BANK, a nationally-chartered corporation located in
Sebring, Florida (the "Company"), and JAMES CLINARD (the "Executive").

      The purpose of this Agreement is to retain and reward the Executive, by
dividing the death proceeds of certain life insurance policies which are owned
by the Company on the life of the Executive with the designated beneficiary of
the Executive. The Company will pay the life insurance premiums from its general
assets.

                                    ARTICLE 1
                                   DEFINITIONS

      Whenever used in this Agreement, the following terms shall have the
meanings specified:

1.1   "Beneficiary" means each designated person, or the estate of the deceased
      Executive, entitled to benefits, if any, upon the death of the Executive.

1.2   "Beneficiary Designation Form" means the form established from time to
      time by the Plan Administrator that the Executive completes, signs and
      returns to the Company to designate one or more Beneficiaries.

1.3   "Board" means the boards of directors of the Corporation and the Company.

1.4   "Company's Interest" means the benefit set forth in Section 3.2.

1.5   "Change of Control" means (i) a merger which the Corporation is not the
      surviving entity, the acquisition of the Company by means of a merger,
      consolidation or purchase of 80% or more of its outstanding shares, or the
      acquisition by any individual or group of beneficial ownership of more
      than 50% of the outstanding shares of the Corporation's common stock. The
      term "group" and the concept of beneficial ownership shall have such
      meaning ascribed thereto as set forth in the Securities Exchange act of
      1934, as amended, and the regulations and rules thereunder; or (ii) if
      more restrictive, the definition in Section 409A of the Code and
      regulations thereunder.

1.6   "Corporation" means Heartland Bancshares, Inc.

1.7   "Disability" means the Executive's suffering a sickness, accident or
      injury which has been determined by the insurance carrier of any
      individual or group disability insurance policy covering the Executive, or
      by the Social Security Administration, to be a disability rendering the
      Executive totally and permanently disabled. Upon the request of the
      Company, the Executive must submit proof to the Company of the insurance
      carrier's or Social Security Administration's determination.

                                       1
<PAGE>

HEARTLAND NATIONAL BANK
Split Dollar Plan

1.8   "Employment Agreement" means the Employment Agreement between the Company,
      the Corporation and the Executive dated November 9, 2004.

1.9   "Executive's Interest" means the benefit set forth in Section 3.1.

1.10  "Insured" means the Executive.

1.11  "Insurer" means the insurance company issuing the life insurance policy on
      the life of the Insured.

1.12  "Net Death Proceeds" means the total death proceeds of the Policy minus
      the cash surrender value.

1.13  "Normal Retirement Age" means the Executive attaining age 62.

1.14  "Normal Retirement Date" means the later of the Normal Retirement Age or
      the date of Termination of Employment for any reason other than
      Termination for Cause.

1.15  "Policy" means the individual insurance policy or policies adopted by the
      Company for purposes of insuring the Executive's life under this
      Agreement.

1.16  "Termination of Employment" means the termination of Executive's service
      for any reason, voluntarily or involuntarily, other than a leave of
      absence approved by the Company.

1.17  "Termination for Cause" means that the Executive's employment with the
      Company has been or is terminated by the Board for any of the following
      reasons:

      (a)   If the Executive shall fail or refuse to comply with the obligations
            required of him as set forth in the Employment Agreement or comply
            with the policies of the Company established by the Board from time
            to time; provided, however, that for the first such failure or
            refusal, the Executive shall be given written warning (providing at
            least a 10 day period for an opportunity to cure), and the second
            failure or refusal shall be grounds for Termination for Cause;

      (b)   If the Executive shall have engaged in conduct involving fraud,
            deceit, personal dishonesty, or breach of fiduciary duty;

      (c)   If the Executive shall have violated any bank law or regulation,
            memorandum of understanding, cease and desist order, or other
            agreement with any banking agency having jurisdiction over the
            Company and the Corporation which, in the judgment of the Board, has
            adversely affected or may adversely affect, the business or
            reputation of the Company and the Corporation as determined by the
            Board;

      (d)   If the Executive shall have become subject to continuing
            intemperance in the use of

                                       2
<PAGE>

HEARTLAND NATIONAL BANK
Split Dollar Plan

            alcohol or drugs which has adversely affected, or may adversely
            affect, the business or reputation of the Company and the
            Corporation as determined by the Board;

      (e)   If the Executive shall have filed, or has filed against him, any
            petition under the federal bankruptcy law or any state insolvency
            laws; or

      (f)   If any banking authority having supervisory jurisdiction over the
            Company and the Corporation initiates any proceedings for removal of
            the Executive.

1.18  "Termination for Good Reason" shall mean (i) any material breach by the
      Company and the Corporation of any provision of the Employment Agreement,
      or (ii) any significant reduction (not pertaining to job performance
      issues), in the duties, responsibilities, authority or title of the
      Executive as an officer of the Company and the Corporation.

                                    ARTICLE 2
                                  PARTICIPATION

2.1   Termination of Participation. The Executive's rights under this Agreement
      shall automatically cease and his or her participation in this Agreement
      shall automatically terminate, if either of the following events occur:
      (i) if there is a Termination for Cause; or (ii) if the Executive's
      employment with the Company is terminated prior to Normal Retirement Age
      for reasons other than Disability (except as set forth in Section 2.2
      (b)), following a Change of Control, Termination for Good Reason, or a
      leave of absence approved by the Company. In the event that the Company
      decides to maintain the Policy after the Executive's termination of
      participation in the Agreement, the Company shall be the direct
      beneficiary of the entire death proceeds of the Policy.

2.2   Post-Termination Benefit.

      (a)   Except as otherwise provided in paragraph (b) of this Section 2.2,
            if the Executive's employment with the Company is terminated because
            of Disability, following a Change of Control, Termination for Good
            Reason, Termination for Cause, or attaining the Normal Retirement
            Date, the Company shall maintain the Policy in full force and effect
            and, in no event, shall the Company amend, terminate or otherwise
            abrogate the Executive's Interest in the Policy. However, the
            Company may replace the Policy with a policy that provides
            comparable death benefits provided under this Agreement.

      (b)   Notwithstanding the provisions of paragraph (a) of this Section 2.2,
            upon the disabled Executive's gainful employment with an entity
            other than the Company, the Company shall have no further obligation
            to the disabled Executive, and the disabled Executive's rights
            pursuant to the Agreement shall cease. In the event the disabled
            Executive's rights are terminated hereunder and the Company decides
            to

                                       3
<PAGE>

HEARTLAND NATIONAL BANK
Split Dollar Plan

            maintain the Policy, the Company shall be the direct beneficiary of
            the entire death proceeds of the Policy.

                                    ARTICLE 3
                           POLICY OWNERSHIP/INTERESTS

3.1   Executive's Interest. The Executive, or the Executive's assignee, shall
      have the right to designate the Beneficiary of an amount equal to fifty
      percent (50%) of the Net Death Proceeds, subject to:

      (a)   Forfeiture of Executive's rights upon Termination of Participation
            as set forth in Section 2.1;

      (b)   Forfeiture of Executive's rights upon Termination for Cause;

      (c)   Forfeiture of Executive's rights upon gainful employment following
            Disability;

      (d)   Termination of the Agreement and the corresponding forfeiture of
            rights for all Executives or any one Executive in accordance with
            Section 9.1 hereof; or to conform with written directives to the
            Company from its banking regulators, and

      (e)   Forfeiture of the Executive's rights and interest hereunder that the
            Company may reasonably consider necessary to conform with applicable
            law (including the Sarbanes-Oxley Act of 2002).

3.2   Company's Interest. The Company shall own the Policy and shall have the
      right to exercise all incidents of ownership except that the Company shall
      not sell, surrender or transfer ownership of a Policy so long as the
      Executive has an interest in the Policy as described in Section 3.1.
      However, the Company may replace the Policy with a policy that provides
      comparable death benefits to cover the benefit provided under this
      Agreement. This provision shall not impair the right of the Company,
      subject to Article 9, to terminate this Agreement. The Company shall be
      the beneficiary of an amount of death proceeds equal to the greater of a)
      the cash surrender value of the Policy, b) the aggregate premiums paid on
      the Policy by the Company less any outstanding indebtedness to the Insurer
      or c) the total death proceeds less the Executive's Interest described in
      Section 3.1.

                                    ARTICLE 4
                                    PREMIUMS

4.1   Premium Payment. The Company shall pay all premiums due on all Policies.

4.2   Economic Benefit. The Company shall determine the economic benefit
      attributable to the Executive based on the life insurance premium factor
      for the Executive's age multiplied by the aggregate death benefit payable
      to the Executive's beneficiary. The "life insurance premium factor" is the
      minimum factor applicable under guidance published pursuant to IRS Reg.
      Section 1.6l-22(d)(3)(ii) or any subsequent authority.

4.3   Imputed Income. The Company shall impute the economic benefit to the
      Executive on an

                                       4
<PAGE>

HEARTLAND NATIONAL BANK
Split Dollar Plan

      annual basis, by adding the economic benefit to the Executive's W-2, or if
      applicable, Form 1099.

                                   ARTICLE 5
                                 BENEFICIARIES

5.1   Beneficiary. The Executive shall have the right, at any time, to designate
      a Beneficiary(ies) to receive any benefits payable under the Agreement to
      a beneficiary upon the death of the Executive. The Beneficiary designated
      under this Agreement may be the same as or different from the Beneficiary
      designation under any other Agreement of the Company in which the
      Executive participates.

5.2   Beneficiary Designation; Change. The Executive shall designate a
      Beneficiary by completing and signing the Beneficiary Designation Form,
      and delivering it to the Company or its designated agent. The Executive's
      beneficiary designation shall be deemed automatically revoked if the
      Beneficiary predeceases the Executive or if the Executive names a spouse
      as Beneficiary and the marriage is subsequently dissolved. The Executive
      shall have the right to change a Beneficiary by completing, signing and
      otherwise complying with the terms of the Beneficiary Designation Form and
      the Company's rules and procedures, as in effect from time to time. Upon
      the acceptance by the Company of a new Beneficiary Designation Form, all
      Beneficiary designations previously filed shall be cancelled. The Company
      shall be entitled to rely on the last Beneficiary Designation Form filed
      by the Executive and accepted by the Company prior to the Executive's
      death.

5.3   Acknowledgment. No designation or change in designation of a Beneficiary
      shall be effective until received, accepted and acknowledged in writing by
      the Company or its designated agent.

5.4   No Beneficiary Designation. If the Executive dies without a valid
      designation of beneficiary, or if all designated Beneficiaries predecease
      the Executive, then the Executive's surviving spouse shall be the
      designated Beneficiary. If the Executive has no surviving spouse, the
      benefits shall be made payable to the personal representative of the
      Executive's estate.

5.5   Facility of Payment. If the Company determines in its discretion that a
      benefit is to be paid to a minor, to a person declared incompetent, or to
      a person incapable of handling the disposition of that person's property,
      the Company may direct payment of such benefit to the guardian, legal
      representative or person having the care or custody of such minor,
      incompetent person or incapable person. The Company may require proof of
      incompetence, minority or guardianship as it may deem appropriate prior to
      distribution of the benefit. Any payment of a benefit shall be a payment
      for the account of the Executive and the Executive's Beneficiary, as the
      case may be, and shall be a complete discharge of any liability under the
      Agreement for such payment amount.

                                       5
<PAGE>

HEARTLAND NATIONAL BANK
Split Dollar Plan

                                    ARTICLE 6
                                   ASSIGNMENT

      The Executive may irrevocably assign without consideration all or part of
the Executive's Interest in this Agreement to any person, entity or trust. In
the event the Executive shall transfer all or part of the Executive's Interest,
then all or part of the Executive's Interest in this Agreement shall be vested
in the Executive's transferee, who shall be substituted as a party hereunder,
and the Executive shall have no further interest in this Agreement.

                                   ARTICLE 7
                                    INSURER

      The Insurer shall be bound only by the terms of its given Policy. The
Insurer shall not be bound by or deemed to have notice of the provisions of this
Agreement. The Insurer shall have the right to rely on the Company's
representations with regard to any definitions, interpretations or Policy
interests as specified under this Agreement.

                                    ARTICLE 8
                           CLAIMS AND REVIEW PROCEDURE

8.1   Claims Procedure. The Executive or Beneficiary ("claimant") who has not
      received benefits under the Agreement that he or she believes should be
      paid shall make a claim for such benefits as follows:

      8.1.1 Initiation - Written Claim. The claimant initiates a claim by
            submitting to the Company a written claim for the benefits.

      8.1.2 Timing of Company Response. The Company shall respond to such
            claimant within 90 days after receiving the claim. If the Company
            determines that special circumstances require additional time for
            processing the claim, the Company can extend the response period by
            an additional 90 days by notifying the claimant in writing, prior to
            the end of the initial 90-day period, that an additional period is
            required. The notice of extension must set forth the special
            circumstances and the date by which the Company expects to render
            its decision.

      8.1.3 Notice of Decision. If the Company denies part or all of the claim,
            the Company shall notify the claimant in writing of such denial. The
            Company shall write the notification in a manner calculated to be
            understood by the claimant. The notification shall set forth:

            (a)   The specific reasons for the denial;

            (b)   A reference to the specific provisions of the Agreement on
                  which the denial is based;

            (c)   A description of any additional information or material
                  necessary for the claimant to perfect the claim and an
                  explanation of why it is needed;

                                       6
<PAGE>

HEARTLAND NATIONAL BANK
Split Dollar Plan

            (d)   An explanation of the Agreement's review procedures and the
                  time limits applicable to such procedures; and

            (e)   A statement of the claimant's right to bring a civil action
                  under ERISA Section 502(a) following an adverse benefit
                  determination on review.

8.2   Review Procedure. If the Company denies part or all of the claim, the
      claimant shall have the opportunity for a full and fair review by the
      Company of the denial, as follows:

      8.2.1 Initiation - Written Request. To initiate the review, the claimant,
            within 60 days after receiving the Company's notice of denial, must
            file with the Company a written request for review.

      8.2.2 Additional Submissions - Information Access. The claimant shall then
            have the opportunity to submit written comments, documents, records
            and other information relating to the claim. The Company shall also
            provide the claimant, upon request and free of charge, reasonable
            access to, and copies of, all documents, records and other
            information relevant (as defined in applicable ERISA regulations) to
            the claimant's claim for benefits.

      8.2.3 Considerations on Review. In considering the review, the Company
            shall take into account all materials and information the claimant
            submits relating to the claim, without regard to whether such
            information was submitted or considered in the initial benefit
            determination.

      8.2.4 Timing of Company's Response. The Company shall respond in writing
            to such claimant within 60 days after receiving the request for
            review. If the Company determines that special circumstances require
            additional time for processing the claim, the Company can extend the
            response period by an additional 60 days by notifying the claimant
            in writing, prior to the end of the initial 60-day period, that an
            additional period is required. The notice of extension must set
            forth the special circumstances and the date by which the Company
            expects to render its decision.

      8.2.5 Notice of Decision. The Company shall notify the claimant in writing
            of its decision on review. The Company shall write the notification
            in a manner calculated to be understood by the claimant. The
            notification shall set forth:

            (a)   The specific reasons for the denial;
            (b)   A reference to the specific provisions of the Agreement on
                  which the denial is based;
            (c)   A statement that the claimant is entitled to receive, upon
                  request and free of charge, reasonable access to, and copies
                  of, all documents, records and other information relevant (as
                  defined in applicable ERISA regulations) to the claimant's
                  claim for benefits; and
            (d)   A statement of the claimant's right to bring a civil action
                  under ERISA Section 502(a).

                                       7
<PAGE>

HEARTLAND NATIONAL BANK
Split Dollar Plan

                                    ARTICLE 9
                           AMENDMENTS AND TERMINATION

9.1   Amendment or Termination of Agreement. Except as otherwise provided in
      Section 2.2, the Company may amend or terminate this Agreement at any time
      prior to the Executive's death. Such amendment or termination shall be by
      written notice to the Executive. In the event that the Company decides to
      maintain the Policy after the termination of the Agreement, the Company
      shall be the direct beneficiary of the entire death proceeds of the
      Policy.

9.2   Option to Purchase Upon Termination. If the Company exercises the right to
      terminate the Agreement, the Company shall not sell, surrender or transfer
      ownership of a Policy without first giving the Executive or the
      Executive's transferee the option to purchase the Policy for a period of
      sixty (60) days from written notice of such intention. The purchase price
      shall be an amount equal to the cash surrender value of the Policy.

                                   ARTICLE 10
                                 ADMINISTRATION

10.1  Company Duties. This Agreement shall be administered by the Company which
      shall consist of the Board, or such committee or persons as the Board may
      choose. The Company shall also have the discretion and authority to (i)
      make, amend, interpret and enforce all appropriate rules and regulations
      for the administration of this Agreement and (ii) decide or resolve any
      and all questions including interpretations of this Agreement, as may
      arise in connection with this Agreement.

10.2  Agents. In the administration of this Agreement, the Company may employ
      agents and delegate to them such administrative duties as it sees fit,
      (including acting through a duly appointed representative), and may from
      time to time consult with counsel who may be counsel to the Company.

10.3  Binding Effect of Decisions. The decision or action of the Company with
      respect to any question arising out of or in connection with the
      administration, interpretation and application of this Agreement and the
      rules and regulations promulgated hereunder shall be final and conclusive
      and binding upon all persons having any interest in this Agreement.

10.4  Indemnity of Company. The Company shall indemnify and hold harmless the
      members of the Company against any and all claims, losses, damages,
      expenses or liabilities arising from any action or failure to act with
      respect to this Agreement, except in the case of willful misconduct by the
      Company or any of its members.

                                       8
<PAGE>

HEARTLAND NATIONAL BANK
Split Dollar Plan

                                   ARTICLE 11
                                  MISCELLANEOUS

11.1  Binding Effect. This Agreement shall bind the Executive and the Company,
      their beneficiaries, survivors, executors, administrators and transferees
      and any Beneficiary.

11.2  No Guarantee of Employment. This Agreement is not an employment policy or
      contract. It does not give the Executive the right to remain an
      Executive of the Company, nor does it interfere with the Company's right
      to discharge the Executive. It also does not require the Executive to
      remain an Executive nor interfere with the Executive's right to terminate
      employment at any time.

11.3  Applicable Law. The Agreement and all rights hereunder shall be governed
      by and construed according to the laws of the State of Florida, except to
      the extent preempted by the laws of the United States of America.

11.4  Reorganization. The Company shall not merge or consolidate into or with
      another company, or reorganize, or sell substantially all of its assets to
      another company, firm or person unless such succeeding or continuing
      company, firm or person agrees to assume and discharge the obligations of
      the Company under this Agreement. Upon the occurrence of such event, the
      term "Company" as used in this Agreement shall be deemed to refer to the
      successor or survivor company.

11.5  Notice. Any notice or filing required or permitted to be given to the
      Company under this Agreement shall be sufficient if in writing and
      hand-delivered, or sent by registered or certified mail, to the address
      below:

                              320 us Hwy 27 North
                             Sebring Florida 33870

      Such notice shall be deemed given as of the date of delivery or, if
      delivery is made by mail, as of the date shown on the postmark or the
      receipt for registration or certification.

      Any notice or filing required or permitted to be given to the Executive
      under this Agreement shall be sufficient if in writing and hand-delivered,
      or sent by mail, to the last known address of the Executive.

11.6  Entire Agreement. This Agreement, along with the Executive's Beneficiary
      Designation Form constitute the entire agreement between the Company and
      the Executive as to the subject matter hereof. No rights are granted to
      the Executive under this Agreement other than those specifically set forth
      herein.

                                       9
<PAGE>

HEARTLAND NATIONAL BANK
Split Dollar Plan

      IN WITNESS WHEREOF, the parties have executed this Agreement as of the
date indicated above.

EXECUTIVE:                                   COMPANY:
                                             HEARTLAND NATIONAL BANK

/s/ James Clinard                            By    /s/ Edward L. Smoak
------------------------                           ----------------------------
JAMES CLINARD                                Title Chairman of the Board

By execution hereof, Heartland Bancshares, Inc. consents to and agrees to be
bound by the terms and condition of this Agreement.

ATTEST:                                      HEARTLAND BANCSHARES, INC.

/s/ James B. Belflower                       By    /s/ Edward L. Smoak
------------------------                           ----------------------------
                                             Title Chairman of the Board

                                       10
<PAGE>

HEARTLAND NATIONAL BANK
Beneficiary Designation Form
Split Dollar Plan

I, JAMES CLINARD, designate the following as beneficiary of benefits under the
Agreement payable following my death:

Primary:        Mary Lydia Clinard                 100%

Contingent:     James C Clinard Jr                 50 %

                Carolyn Anne Clinard               50 %

NOTES:

      -     PLEASE PRINT CLEARLY OR TYPE THE NAMES OF THE BENEFICIARIES.

      -     TO NAME A TRUST AS BENEFICIARY, PLEASE PROVIDE THE NAME OF THE
            TRUSTEE(S) AND THE EXACT NAME AND DATE OF THE TRUST AGREEMENT

      -     TO.NAME YOUR ESTATE AS BENEFICIARY, PLEASE WRITE "ESTATE OF
            [YOUR NAME]".

      -     BE AWARE THAT NONE OF THE CONTINGENT BENEFICIARIES WILL RECEIVE
            ANYTHING UNLESS ALL OF THE PRIMARY BENEFICIARIES PREDECEASE YOU.

I understand that I may change these beneficiary designations by delivering a
new written designation to the Company, which shall be effective only upon
receipt and acknowledgment by the Company prior to my death. I further
understand that the designations will be automatically revoked if the
beneficiary predeceases me, or, if I have named my spouse as beneficiary and our
marriage is subsequently dissolved.

Name: James C Clinard

Signature: /s/ James C. Clinard                           Date: 1-04-05

Received by the Company this __________ day of _________________, 20____

By: _____________________________________________

Title: __________________________________________

<PAGE>

HEARTLAND NATIONAL BANK
Policy Endorsement
Split Dollar Plan

                               POLICY ENDORSEMENT

Contract Owner: HEARTLAND NATIONAL BANK

The undersigned Owner requests that the policy(ies) shown in the attached
Schedule Page issued by NEW YORK LIFE INSURANCE COMPANY (the "Insurer") provide
for the following beneficiary designation:

      1. Upon the death of the Insured, proceeds shall be paid in one sum to the
Owner, its successors or assigns, as Beneficiary, to the extent claimed by said
Owner.

      2. Any proceeds at the death of the Insured in excess of the amount paid
under the provisions of paragraph 1 of this Policy Endorsement shall be paid in
one sum in accordance with the written direction of the Owner. Such direction
will be provided to the Insurer at the time of claim. The Insurer will be
protected in relying solely on the Owner to provide the name(s) of the
party(ies) to pay any excess not paid under paragraph 1. If the Owner fails to
provide the name(s) of the party(ies) at the time of claim, then any proceeds
payable under this paragraph shall be paid in one sum to the Beneficiary.

      3. It is hereby provided that (i) any payment made to the Beneficiary or
other party under paragraph 2 of this Policy Endorsement shall be a full
discharge of the Insurer to the extent thereof; (ii) such discharge shall be
binding on all parties claiming any interest under the Policy; and (iii) the
Insurer shall have no responsibility with respect to the amounts so claimed.

      4. It is agreed by the undersigned that this designation shall be subject
in all respects to the contractual terms of the Policy.

The undersigned is signing in a representative capacity for the Owner and
warrants that he or she has the authority to bind the entity on whose behalf
this document is being executed.

Signed at Sebring, Florida, this 4 day of January, 2005.

OWNER:

HEARTLAND NATIONAL BANK

BY:   /s/ Edward L. Smoak                      By: /s/ James B. Belflower
      ----------------------------------           -----------------------------
      (Signature: Bank Officer #1)                 (Signature: Bank Officer #2)

      Edward L. Smoak                              James B. Belflower
      ----------------------------------           -----------------------------
      (Printed)                                    (Printed)

TITLE: Chairman of the Board                 TITLE: EVP
       -------------------------------              ----------------------------

                                     1 of 2
<PAGE>

HEARTLAND NATIONAL BANK
Beneficiary Designation Form
Split Dollar Plan

                                  SCHEDULE PAGE
                   POLICY(IES) SUBJECT TO POLICY ENDORSEMENT

<TABLE>
<CAPTION>
<S>                                          <C>
Policy Number                                Insured

                                             James Clinard
</TABLE>

                                     2 of 2

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