HBT Financial, Inc. Announces Authorization of New $15 Million Stock Repurchase Program

Rhea-AI Summary

HBT Financial (NASDAQ: HBT) has announced a new $15 million stock repurchase program that will commence on January 1, 2025, following the expiration of its current buyback program. The new program will remain in effect until January 1, 2026. Repurchases may be executed through open market transactions, private negotiations, or other compliant methods under Rule 10b-18 of the Securities Act of 1934. The timing and volume of purchases will depend on various factors including price, trading volume, and market conditions. The company maintains discretion over the program's execution and may suspend or discontinue it without notice.

Positive

• Authorization of new $15 million stock repurchase program indicates financial strength
• Buyback program could potentially support stock price and increase earnings per share
• Flexible implementation allows company to optimize purchase timing and pricing

Negative

• Capital allocation to buybacks reduces funds available for other strategic investments
• No obligation to complete the full buyback amount

Insights

Financial Analyst

This $15 million stock repurchase program signals management's confidence in HBT Financial's value proposition and financial health. For a company with a market cap of $731.7 million, this represents approximately 2% of outstanding shares at current prices. Share buybacks typically support stock prices by reducing float and improving per-share metrics like EPS. The program's flexibility in timing and execution method, combined with the one-year window, allows management to be opportunistic in their purchases. This is particularly relevant given current market conditions where regional bank valuations have been under pressure. The discretionary nature of the program also provides financial flexibility should market conditions change. While modest in size, this renewal demonstrates continued commitment to capital return policies.

BLOOMINGTON, Ill., Dec. 18, 2024 (GLOBE NEWSWIRE) -- HBT Financial, Inc. (NASDAQ: HBT) (the “Company” or “HBT Financial”) announced today that its Board of Directors has approved a new stock repurchase program (the “Program”) that takes effect upon the expiration of the Company’s current stock repurchase program on January 1, 2025. The Company will not execute additional repurchases under the current program after January 1, 2025. The new Program authorizes the Company to repurchase up to $15 million of its common stock.

Stock repurchases under the Program may be made from time to time on the open market, in privately negotiated transactions, or in any other manner that complies with the applicable securities law (including pursuant to the safe harbor provided under Rule 10b-18 of the Securities Act of 1934, as amended), at the discretion of the management of the Company. The Program will be in effect until January 1, 2026, with the timing of purchases and number of shares repurchased under the Program dependent upon a variety of factors including price, trading volume, corporate and regulatory requirements, and market conditions. The Company is not obligated to purchase any shares under the Program, and the Program may be suspended or discontinued at any time without notice.

About HBT Financial, Inc.

HBT Financial, Inc., headquartered in Bloomington, Illinois, is the holding company for Heartland Bank and Trust Company, and has banking roots that can be traced back to 1920. HBT Financial provides a comprehensive suite of business, commercial, wealth management, and retail banking products and services to individuals, businesses and municipal entities throughout Illinois and Eastern Iowa through 66 full-service branches. As of September 30, 2024, HBT Financial had total assets of $5.0 billion, total loans of $3.4 billion, and total deposits of $4.3 billion.

CONTACT:
Peter Chapman
HBTIR@hbtbank.com 
(309) 664-4556

FAQ

What is the size of HBT Financial's new stock repurchase program?

HBT Financial's new stock repurchase program authorizes the repurchase of up to $15 million of its common stock.

When does HBT Financial's new stock buyback program start and end?

The new program begins on January 1, 2025, following the expiration of the current program, and will remain in effect until January 1, 2026.

How will HBT Financial execute its stock repurchase program?

The company may execute repurchases through open market transactions, privately negotiated deals, or other methods compliant with securities law, particularly Rule 10b-18.

Is HBT Financial required to complete the full $15 million stock repurchase?

No, HBT Financial is not obligated to purchase any shares under the program and can suspend or discontinue it at any time without notice.

What factors will influence HBT Financial's stock repurchase timing?

The timing and number of shares repurchased will depend on factors including price, trading volume, corporate and regulatory requirements, and market conditions.