Dubuque-based Heartland Financial USA Inc. has reached a definitive merger agreement with CIC Bancshares Inc. of Denver in a deal valued at $83.5 million. Heartland Financial will pay about 20 percent of the total amount in cash and about 80 percent through the issuance of Heartland common stock. The transaction is expected to boost earnings per share within the first year, according to a release. The agreement has been unanimously approved by the boards of directors of both companies. When the transaction closes, CIC Bancshares’ Centennial Bank will be merged into Heartland Financial’s Colorado-based subsidiary, Summit Bank & Trust, with the resulting institution operating as Centennial Bank. The deal is expected to close in the first quarter of 2016.