HBT Financial, Inc. Announces Third Quarter 2025 Financial Results
HBT Financial (NASDAQ: HBT) reported Q3 2025 net income of $19.8M or $0.63 diluted EPS and adjusted net income $20.5M or $0.65 adjusted EPS. Key profitability metrics: ROAA 1.56%, ROAE 13.31%, and adjusted ROATCE 15.81%. Net interest margin was 4.13% (4.18% tax-equivalent).
Loans rose to $3.40B, deposits to $4.35B, nonperforming assets were 0.17% of assets, and tangible book value per share increased to $16.64. The company announced a definitive merger agreement to combine with CNB Bank Shares and continued a share repurchase program with $11.1M remaining.
HBT Financial (NASDAQ: HBT) ha riportato un utile netto nel terzo trimestre 2025 di $19.8M o $0.63 per azione diluita e utile netto rettificato $20.5M o $0.65 per azione rettificata. Le principali metriche di redditività: ROAA 1.56%, ROAE 13.31% e ROATCE rettificato 15.81%. Il margine di interesse netto è stato del 4.13% (4.18% equivalente ai fini fiscali).
Basic: I prestiti sono aumentati a $3.40B, i depositi a $4.35B, gli attivi non performanti erano 0.17% degli attivi e il valore contabile tangibile per azione è aumentato a $16.64. L'azienda ha annunciato un accordo di fusione definitivo per unirsi a CNB Bank Shares e ha proseguito un programma di riacquisto di azioni con $11.1M rimanenti.
HBT Financial (NASDAQ: HBT) informó ingresos netos del tercer trimestre de 2025 de $19.8 millones o $0.63 por acción diluida y ingresos netos ajustados $20.5M o $0.65 por acción ajustada. Métricas clave de rentabilidad: ROAA 1.56%, ROAE 13.31% y ROATCE ajustado 15.81%. El margen de interés neto fue 4.13% (4.18% equivalente fiscal).
Los préstamos subieron a $3.40B, los depósitos a $4.35B, los activos no performantes representaban 0.17% de los activos y el valor contable tangible por acción aumentó a $16.64. La empresa anunció un acuerdo definitivo de fusión para fusionarse con CNB Bank Shares y continuó un programa de recompra de acciones con $11.1M restantes.
HBT Financial (NASDAQ: HBT)가 2025년 3분기 순이익 1,980만 달러 또는 희석 주당순이익 0.63달러와 조정 순이익 2,050만 달러 또는 조정 주당순이익 0.65달러를 보고했습니다. 핵심 수익성 지표: ROAA 1.56%, ROAE 13.31%, 그리고 조정 ROATCE 15.81%. 순이자마진은 4.13%였으며 세금동등가치로는 4.18%였습니다.
대출은 $3.40B로 증가했고 예금은 $4.35B로 증가했으며 부실자산은 자산의 0.17%였고 주당 실질가치가 $16.64로 상승했습니다. 회사는 CNB Bank Shares와의 합병에 대한 Definitive 합의서를 발표했고 남은 자사주 매입 프로그램으로 $11.1M이 남아있었습니다.
HBT Financial (NASDAQ: HBT) a déclaré un résultat net au T3 2025 de 19,8 millions de dollars ou 0,63 $ par action diluée et un résultat net ajusté de 20,5 millions de dollars ou 0,65 $ par action ajustée. Principales métriques de rentabilité : ROAA 1,56%, ROAE 13,31% et ROATCE ajusté 15,81%. La marge nette d'intérêts était de 4,13% (4,18% équivalent impôt).
Les prêts ont augmenté à 3,40 milliards de dollars, les dépôts à 4,35 milliards de dollars, les actifs non performants représentaient 0,17% des actifs, et la valeur comptable tangible par action a augmenté à 16,64 $. L'entreprise a annoncé un accord de fusion définitif pour se joindre à CNB Bank Shares et a poursuivi un programme de rachat d'actions avec 11,1 millions de dollars restants.
HBT Financial (NASDAQ: HBT) meldete im dritten Quartal 2025 einen Nettogewinn von 19,8 Mio. USD bzw. 0,63 USD je verwässerter Aktie und einen bereinigten Nettogewinn von 20,5 Mio. USD bzw. 0,65 USD je bereinigter Aktie. Wichtige Rentabilitätskennzahlen: ROAA 1,56%, ROAE 13,31% und bereinigtes ROATCE 15,81%. Die Nettomarge betrug 4,13% (4,18% steueräquivalent).
Die Darlehen stiegen auf 3,40 Mrd. USD, die Einlagen auf 4,35 Mrd. USD, notleidende Vermögenswerte betrugen 0,17% der Vermögenswerte, und der tangible book value pro Aktie stieg auf 16,64 USD. Das Unternehmen gab eine endgültige Fusionsvereinbarung zur Erweiterung mit CNB Bank Shares bekannt und fuhr mit einem Aktienrückkaufprogramm fort, von dem noch 11,1 Mio. USD verbleiben.
HBT Financial (NASDAQ: HBT) أعلنت عن صافي دخل للربع الثالث من 2025 بمقدار 19.8 مليون دولار أو 0.63 دولار للسهم المخفف و صافي دخل معدّل 20.5 مليون دولار أو 0.65 دولار للسهم المعدل. المقاييس الأساسية للربحية: ROAA 1.56%، ROAE 13.31% و ROATCE المعدل 15.81%. هامش الفائدة الصافي كان 4.13% (معادل الضريبة 4.18%).
ارتفعت القروض إلى 3.40 مليار دولار، وارتفعت الودائع إلى 4.35 مليار دولار، وكانت الأصول غير المولدة للأداء 0.17% من الأصول، وقيمة الكتاب الملموسة للسهم 16.64 دولار.
أعلنت الشركة عن اتفاق اندماج نهائي للاندماج مع CNB Bank Shares واستمرت في برنامج إعادة شراء الأسهم وبقي 11.1 مليون دولار.
HBT Financial（NASDAQ: HBT） 报告 2025 年第三季度净利润为 1980 万美元，摊薄后每股收益为 0.63 美元，调整后净利润为 2050 万美元，调整后每股收益为 0.65 美元。关键盈利指标：ROAA 1.56%、ROAE 13.31%、以及调整后的 ROATCE 15.81%。净息差为 4.13%（税等效为 4.18%）。
贷款上升至 34 亿美元，存款上升至 43.5 亿美元，不良资产占资产的 0.17%，每股有形账面价值上升至 16.64 美元。公司宣布与 CNB Bank Shares 的并购协议并继续执行股份回购计划，尚余 1110 万美元。
- Adjusted EPS of $0.65, highest since IPO
- Loans increased to $3.40B
- Tangible book value per share rose to $16.64
- Capital ratios well above Basel III minimums (Total capital 16.77%)
- Share repurchases: $25.36 average price, $11.1M remaining
- Net interest margin declined 1 bp to 4.13%
- Nonperforming assets increased to 0.17% of assets from 0.13%
- Provision for credit losses of $0.6M in Q3
Insights
Solid quarterly earnings, stable margins, strong capital, and a definitive merger agreement announced on
HBT Financial produced third quarter net income of
Key dependencies and risks include loan yield compression (loan yields fell 3 bps to
Concrete items to watch over the next 6–12 months: completion and regulatory approval of the CNB merger (announced
Third Quarter Highlights
- Net income of
$19.8 million , or$0.63 per diluted share; return on average assets (“ROAA”) of1.56% ; return on average stockholders' equity (“ROAE”) of13.31% ; and return on average tangible common equity (“ROATCE”)(1) of15.28% - Adjusted net income(1) of
$20.5 million , or$0.65 per diluted share; adjusted ROAA(1) of1.61% ; adjusted ROAE(1) of13.77% ; and adjusted ROATCE(1) of15.81% - Asset quality remained strong with nonperforming assets to total assets of
0.17% and net charge-offs to average loans of0.02% , on an annualized basis - Net interest margin decreased 1 basis point to
4.13% and net interest margin (tax-equivalent basis)(1) decreased 1 basis point to4.18%
BLOOMINGTON, Ill., Oct. 20, 2025 (GLOBE NEWSWIRE) -- HBT Financial, Inc. (NASDAQ: HBT) (the “Company” or “HBT Financial” or “HBT”), the holding company for Heartland Bank and Trust Company, today reported net income of
J. Lance Carter, President and Chief Executive Officer of HBT Financial, said, “During the third quarter of 2025, we continued to produce consistently strong earnings while we maintained a solid balance sheet and saw loan growth return. Adjusted net income(1) of
Our balance sheet and asset quality remained strong with nonperforming assets to total assets of only
This morning, we announced the signing of a definitive agreement to merge with CNB Bank Shares, Inc. (“CNB Bank Shares” or “CNB”) and its wholly owned subsidiary CNB Bank & Trust, N.A (“CNB Bank”). CNB Bank Shares, like HBT Financial, has central Illinois roots going back for generations and has expanded into more metro areas in the Chicago MSA and St. Louis MSA. CNB Bank is a true community bank focused on supporting their customers and communities, and we are excited to partner with them to continue that tradition. For more information please see the press release and investor presentation that we released this morning.”
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(1) See “Reconciliation of Non-GAAP Financial Measures” below for reconciliation of non-GAAP financial measures to their most closely comparable GAAP financial measures.
Adjusted Net Income
In addition to reporting GAAP results, the Company believes non-GAAP measures such as adjusted net income and adjusted earnings per share, which adjust for acquisition expenses, branch closure expenses, losses on extinguishment of debt, gains (losses) on closed branch premises, realized gains (losses) on sales of securities, mortgage servicing rights (“MSR”) fair value adjustments, and the tax effect of these pre-tax adjustments, provide investors with additional insight into its operational performance. The Company reported adjusted net income of
Net Interest Income and Net Interest Margin
Net interest income for the third quarter of 2025 was
Relative to the third quarter of 2024, net interest income increased
Net interest margin for the third quarter of 2025 was
Relative to the third quarter of 2024, net interest margin increased 15 basis points from
____________________________________
(1) See “Reconciliation of Non-GAAP Financial Measures” below for reconciliation of non-GAAP financial measures to their most closely comparable GAAP financial measures.
Noninterest Income
Noninterest income for the third quarter of 2025 was
Relative to the third quarter of 2024, noninterest income increased
Noninterest Expense
Noninterest expense for the third quarter of 2025 was
Relative to the third quarter of 2024, noninterest expense increased
Income Taxes
During the third quarter of 2025 our effective tax rate decreased to
Loan Portfolio
Total loans outstanding, before allowance for credit losses, were
Deposits
Total deposits were
Asset Quality
Nonperforming assets totaled
The Company recorded a provision for credit losses of
The Company had net charge-offs of
The Company’s allowance for credit losses was
Capital
As of September 30, 2025, the Company exceeded all regulatory capital requirements under Basel III as summarized in the following table:
| September 30, 2025 | For Capital Adequacy Purposes With Capital Conservation Buffer | |||||
| Total capital to risk-weighted assets | 16.77 | % | 10.50 | % | ||
| Tier 1 capital to risk-weighted assets | 15.67 | 8.50 | ||||
| Common equity tier 1 capital ratio | 14.35 | 7.00 | ||||
| Tier 1 leverage ratio | 12.16 | 4.00 | ||||
The ratio of tangible common equity to tangible assets(1) increased to
During the third quarter of 2025, the Company repurchased 39,631 shares of its common stock at a weighted average price of
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(1) See “Reconciliation of Non-GAAP Financial Measures” below for reconciliation of non-GAAP financial measures to their most closely comparable GAAP financial measures.
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 financial products and services to consumers, businesses, and municipal entities throughout Illinois and eastern Iowa through 66 full-service branches. As of September 30, 2025, HBT Financial had total assets of
Non-GAAP Financial Measures
Some of the financial measures included in this press release are not measures of financial performance recognized in accordance with GAAP. These non-GAAP financial measures include adjusted net income, adjusted earnings per share, adjusted ROAA, pre-provision net revenue, pre-provision net revenue less charge-offs (recoveries), adjusted pre-provision net revenue, adjusted pre-provision net revenue less charge-offs (recoveries), net interest income (tax-equivalent basis), net interest margin (tax-equivalent basis), efficiency ratio (tax-equivalent basis), adjusted efficiency ratio (tax-equivalent basis), the ratio of tangible common equity to tangible assets, tangible book value per share, adjusted ROAE, ROATCE, and adjusted ROATCE. Our management uses these non-GAAP financial measures, together with the related GAAP financial measures, in its analysis of our performance and in making business decisions. Management believes that it is a standard practice in the banking industry to present these non-GAAP financial measures, and accordingly believes that providing these measures may be useful for peer comparison purposes. These disclosures should not be viewed as substitutes for the results determined to be in accordance with GAAP; nor are they necessarily comparable to non-GAAP financial measures that may be presented by other companies. See our reconciliation of non-GAAP financial measures to their most directly comparable GAAP financial measures in the “Reconciliation of Non-GAAP Financial Measures” tables.
Forward-Looking Statements
Readers should note that in addition to the historical information contained herein, this press release contains, and future oral and written statements of the Company and its management may contain, “forward-looking statements” within the meanings of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements generally can be identified by the use of forward-looking terminology such as “will,” “propose,” “may,” “plan,” “seek,” “expect,” “intend,” “estimate,” “anticipate,” “believe,” “continue,” or “should,” or similar terminology. Any forward-looking statements presented herein are made only as of the date of this press release, and the Company does not undertake any obligation to update or revise any forward-looking statements to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise.
Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to: (i) the strength of the local, state, national and international economies and financial markets (including effects of inflationary pressures and supply chain constraints); (ii) effects on the U.S. economy resulting from the threat or implementation of, or changes to, existing policies and executive orders including tariffs, immigration policy, regulatory or other governmental agencies, foreign policy and tax regulations; (iii) the economic impact of any future terrorist threats and attacks, widespread disease or pandemics, acts of war or other threats thereof (including the Russian invasion of Ukraine and ongoing conflicts in the Middle East), or other adverse events that could cause economic deterioration or instability in credit markets, and the response of the local, state and national governments to any such adverse external events; (iv) new and revised accounting policies and practices, as may be adopted by state and federal regulatory banking agencies, the Financial Accounting Standards Board or the Public Company Accounting Oversight Board; (v) changes in local, state and federal laws, regulations and governmental policies concerning the Company’s general business and any changes in response to bank failures; (vi) the imposition of tariffs or other governmental policies impacting the value of products produced by the Company's commercial borrowers; (vii) changes in interest rates and prepayment rates of the Company’s assets; (viii) increased competition in the financial services sector, including from non-bank competitors such as credit unions and fintech companies, and the inability to attract new customers; (ix) technological changes implemented by us and other parties, including our third-party vendors, which may have unforeseen consequences to us and our customers, including the development and implementation of tools incorporating artificial intelligence; (x) unexpected results of acquisitions, which may include failure to realize the anticipated benefits of acquisitions and the possibility that transaction costs may be greater than anticipated; (xi) the loss of key executives and employees, talent shortages and employee turnover; (xii) changes in consumer spending; (xiii) unexpected outcomes or costs of existing or new litigation or other legal proceedings and regulatory actions involving the Company; (xiv) the economic impact on the Company and its customers of climate change, natural disasters and of exceptional weather occurrences such as tornadoes, floods and blizzards; (xv) fluctuations in the value of securities held in our securities portfolio, including as a result of changes in interest rates; (xvi) credit risks and risks from concentrations (by type of borrower, geographic area, collateral and industry) within our loan portfolio (including commercial real estate loans) and large loans to certain borrowers; (xvii) the overall health of the local and national real estate market; (xviii) the ability to maintain an adequate level of allowance for credit losses on loans; (xix) the concentration of large deposits from certain clients who have balances above current FDIC insurance limits and who may withdraw deposits to diversify their exposure; (xx) the ability to successfully manage liquidity risk, which may increase dependence on non-core funding sources such as brokered deposits, and may negatively impact the Company’s cost of funds; (xxi) the level of nonperforming assets on our balance sheet; (xxii) interruptions involving our information technology and communications systems or third-party servicers; (xxiii) the occurrence of fraudulent activity, breaches or failures of our third-party vendors’ information security controls or cybersecurity-related incidents, including as a result of sophisticated attacks using artificial intelligence and similar tools or as a result of insider fraud; (xxiv) the effectiveness of the Company’s risk management framework; (xxv) the possibility that stockholders of CNB may not approve the merger agreement; (xxvi) the risk that a condition to closing of the proposed transaction may not be satisfied, that either party may terminate the merger agreement or that the closing of the proposed transaction might be delayed or not occur at all; (xxvii) potential adverse reactions or changes to business or employee relationships, including those resulting from the announcement or completion of the proposed transaction; (xxviii) the diversion of management time on transaction-related issues; (xxix) the ultimate timing, outcome and results of integrating the operations of CNB into those of HBT; (xxx) the effects of the merger in HBT’s future financial condition, results of operations, strategy and plans, and (xxxi) regulatory approvals of the transaction, and (xxxii) the ability of the Company to manage the risks associated with the foregoing as well as anticipated.
Readers should note that the forward-looking statements included in this press release are not a guarantee of future events, and that actual events may differ materially from those made in or suggested by the forward-looking statements. Additional information concerning the Company and its business, including additional factors that could materially affect the Company’s financial results, is included in the Company’s filings with the Securities and Exchange Commission (“SEC”).
Important Information and Where to Find It
In connection with the proposed transaction, HBT and CNB intend to file materials with the SEC, including a Registration Statement on Form S-4 of HBT that will include a proxy statement of CNB and a prospectus of HBT. After the Registration Statement is declared effective by the SEC, HBT and CNB intend to mail a definitive proxy statement/prospectus to the stockholders of CNB. This news release is not a substitute for the proxy statement/prospectus or the Registration Statement or for any other document that HBT or CNB may file with the SEC and send to CNB’s stockholders in connection with the proposed transaction. CNB’S STOCKHOLDERS ARE URGED TO CAREFULLY AND THOROUGHLY READ THE PROXY STATEMENT/PROSPECTUS AND THE REGISTRATION STATEMENT, AS MAY BE AMENDED OR SUPPLEMENTED FROM TIME TO TIME, AND OTHER RELEVANT DOCUMENTS FILED BY HBT OR CNB WITH THE SEC, WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT HBT, CNB, THE PROPOSED TRANSACTION, THE RISKS RELATED THERETO AND RELATED MATTERS.
Investors will be able to obtain free copies of the Registration Statement and proxy statement/prospectus, as each may be amended from time to time, and other relevant documents filed by HBT and CNB with the SEC (when they become available) through the website maintained by the SEC at www.sec.gov. Copies of documents filed with the SEC by HBT will be available free of charge from HBT’s website at https://ir.hbtfinancial.com or by contacting HBT’s Investor Relations Department at HBTIR@hbtbank.com.
Participants in the Proxy Solicitation
HBT, CNB and their respective directors and certain of their executive officers and other members of management and employees may be deemed, under SEC rules, to be participants in the solicitation of proxies from CNB’s stockholders in connection with the proposed transaction. Information regarding the executive officers and directors of HBT is included in its definitive proxy statement for its 2025 annual meeting filed with the SEC on April 9, 2025. Information regarding the executive officers and directors of CNB and additional information regarding the persons who may be deemed participants and their direct and indirect interests, by security holdings or otherwise, will be set forth in the Registration Statement and proxy statement/prospectus and other materials when they are filed with the SEC in connection with the proposed transaction. Free copies of these documents may be obtained as described in the paragraphs above.
No Offer or Solicitation
Communications in this news release do not constitute an offer to sell or the solicitation of an offer to subscribe for or buy any securities or a solicitation of any vote or approval with respect to the proposed transaction or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
CONTACT:
Peter Chapman
HBTIR@hbtbank.com
(309) 664-4556
| HBT Financial, Inc. Unaudited Consolidated Financial Summary | ||||||||||||||||||||
| As of or for the Three Months Ended | Nine Months Ended September 30, | |||||||||||||||||||
| (dollars in thousands, except per share data) | September 30, 2025 | June 30, 2025 | September 30, 2024 | 2025 | 2024 | |||||||||||||||
| Interest and dividend income | $ | 64,336 | $ | 63,919 | $ | 64,117 | $ | 191,393 | $ | 188,902 | ||||||||||
| Interest expense | 14,350 | 14,261 | 16,384 | 43,041 | 47,453 | |||||||||||||||
| Net interest income | 49,986 | 49,658 | 47,733 | 148,352 | 141,449 | |||||||||||||||
| Provision for credit losses | 596 | 526 | 603 | 1,698 | 2,306 | |||||||||||||||
| Net interest income after provision for credit losses | 49,390 | 49,132 | 47,130 | 146,654 | 139,143 | |||||||||||||||
| Noninterest income | 9,849 | 9,140 | 8,705 | 28,295 | 23,941 | |||||||||||||||
| Noninterest expense | 32,508 | 31,914 | 31,322 | 96,357 | 93,099 | |||||||||||||||
| Income before income tax expense | 26,731 | 26,358 | 24,513 | 78,592 | 69,985 | |||||||||||||||
| Income tax expense | 6,966 | 7,128 | 6,333 | 20,522 | 18,477 | |||||||||||||||
| Net income | $ | 19,765 | $ | 19,230 | $ | 18,180 | $ | 58,070 | $ | 51,508 | ||||||||||
| Earnings per share - diluted | $ | 0.63 | $ | 0.61 | $ | 0.57 | $ | 1.84 | $ | 1.62 | ||||||||||
| Adjusted net income (1) | $ | 20,452 | $ | 19,803 | $ | 19,244 | $ | 59,508 | $ | 55,456 | ||||||||||
| Adjusted earnings per share - diluted (1) | 0.65 | 0.63 | 0.61 | 1.88 | 1.75 | |||||||||||||||
| Book value per share | $ | 19.05 | $ | 18.44 | $ | 17.04 | ||||||||||||||
| Tangible book value per share (1) | 16.64 | 16.02 | 14.55 | |||||||||||||||||
| Shares of common stock outstanding | 31,455,803 | 31,495,434 | 31,559,366 | |||||||||||||||||
| Weighted average shares of common stock outstanding, including all dilutive potential shares | 31,587,935 | 31,588,541 | 31,677,546 | 31,628,929 | 31,715,708 | |||||||||||||||
| SUMMARY RATIOS | ||||||||||||||||||||
| Net interest margin * | 4.13 | % | 4.14 | % | 3.98 | % | 4.13 | % | 3.96 | % | ||||||||||
| Net interest margin (tax-equivalent basis) * (1)(2) | 4.18 | 4.19 | 4.03 | 4.18 | 4.01 | |||||||||||||||
| Efficiency ratio | 53.17 | % | 53.10 | % | 54.24 | % | 53.37 | % | 55.00 | % | ||||||||||
| Efficiency ratio (tax-equivalent basis) (1)(2) | 52.68 | 52.61 | 53.71 | 52.88 | 54.45 | |||||||||||||||
| Loan to deposit ratio | 78.21 | % | 77.75 | % | 78.72 | % | ||||||||||||||
| Return on average assets * | 1.56 | % | 1.53 | % | 1.44 | % | 1.54 | % | 1.37 | % | ||||||||||
| Return on average stockholders' equity * | 13.31 | 13.47 | 13.81 | 13.57 | 13.58 | |||||||||||||||
| Return on average tangible common equity * (1) | 15.28 | 15.55 | 16.25 | 15.66 | 16.11 | |||||||||||||||
| Adjusted return on average assets * (1) | 1.61 | % | 1.58 | % | 1.53 | % | 1.58 | % | 1.48 | % | ||||||||||
| Adjusted return on average stockholders' equity * (1) | 13.77 | 13.87 | 14.62 | 13.90 | 14.62 | |||||||||||||||
| Adjusted return on average tangible common equity * (1) | 15.81 | 16.02 | 17.20 | 16.05 | 17.34 | |||||||||||||||
| CAPITAL | ||||||||||||||||||||
| Total capital to risk-weighted assets | 16.77 | % | 17.74 | % | 16.54 | % | ||||||||||||||
| Tier 1 capital to risk-weighted assets | 15.67 | 15.60 | 14.48 | |||||||||||||||||
| Common equity tier 1 capital ratio | 14.35 | 14.26 | 13.15 | |||||||||||||||||
| Tier 1 leverage ratio | 12.16 | 11.86 | 11.16 | |||||||||||||||||
| Total stockholders' equity to total assets | 11.90 | 11.58 | 10.77 | |||||||||||||||||
| Tangible common equity to tangible assets (1) | 10.56 | 10.21 | 9.35 | |||||||||||||||||
| ASSET QUALITY | ||||||||||||||||||||
| Net charge-offs (recoveries) to average loans * | 0.02 | % | 0.12 | % | 0.07 | % | 0.06 | % | 0.04 | % | ||||||||||
| Allowance for credit losses to loans, before allowance for credit losses | 1.23 | 1.24 | 1.22 | |||||||||||||||||
| Nonperforming loans to loans, before allowance for credit losses | 0.22 | 0.17 | 0.24 | |||||||||||||||||
| Nonperforming assets to total assets | 0.17 | 0.13 | 0.17 | |||||||||||||||||
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* Annualized measure.
(1) See “Reconciliation of Non-GAAP Financial Measures” below for reconciliation of non-GAAP financial measures to their most closely comparable GAAP financial measures.
(2) On a tax-equivalent basis assuming a federal income tax rate of
| HBT Financial, Inc. Unaudited Consolidated Financial Summary Consolidated Statements of Income | |||||||||||||||||||
| Three Months Ended | Nine Months Ended September 30, | ||||||||||||||||||
| (dollars in thousands, except per share data) | September 30, 2025 | June 30, 2025 | September 30, 2024 | 2025 | 2024 | ||||||||||||||
| INTEREST AND DIVIDEND INCOME | |||||||||||||||||||
| Loans, including fees: | |||||||||||||||||||
| Taxable | $ | 52,818 | $ | 53,156 | $ | 53,650 | $ | 159,343 | $ | 157,753 | |||||||||
| Federally tax exempt | 1,245 | 1,215 | 1,133 | 3,628 | 3,324 | ||||||||||||||
| Debt securities: | |||||||||||||||||||
| Taxable | 8,320 | 7,434 | 6,453 | 22,690 | 18,972 | ||||||||||||||
| Federally tax exempt | 459 | 457 | 502 | 1,385 | 1,620 | ||||||||||||||
| Interest-bearing deposits in bank | 1,350 | 1,544 | 2,230 | 3,959 | 6,752 | ||||||||||||||
| Other interest and dividend income | 144 | 113 | 149 | 388 | 481 | ||||||||||||||
| Total interest and dividend income | 64,336 | 63,919 | 64,117 | 191,393 | 188,902 | ||||||||||||||
| INTEREST EXPENSE | |||||||||||||||||||
| Deposits | 12,995 | 12,835 | 14,649 | 38,769 | 42,375 | ||||||||||||||
| Securities sold under agreements to repurchase | — | — | 134 | 22 | 415 | ||||||||||||||
| Borrowings | 31 | 30 | 119 | 170 | 365 | ||||||||||||||
| Subordinated notes | 387 | 469 | 470 | 1,326 | 1,409 | ||||||||||||||
| Junior subordinated debentures issued to capital trusts | 937 | 927 | 1,012 | 2,754 | 2,889 | ||||||||||||||
| Total interest expense | 14,350 | 14,261 | 16,384 | 43,041 | 47,453 | ||||||||||||||
| Net interest income | 49,986 | 49,658 | 47,733 | 148,352 | 141,449 | ||||||||||||||
| PROVISION FOR CREDIT LOSSES | 596 | 526 | 603 | 1,698 | 2,306 | ||||||||||||||
| Net interest income after provision for credit losses | 49,390 | 49,132 | 47,130 | 146,654 | 139,143 | ||||||||||||||
| NONINTEREST INCOME | |||||||||||||||||||
| Card income | 2,732 | 2,797 | 2,753 | 8,077 | 8,254 | ||||||||||||||
| Wealth management fees | 3,122 | 2,826 | 2,670 | 8,789 | 7,840 | ||||||||||||||
| Service charges on deposit accounts | 2,093 | 1,915 | 2,081 | 5,952 | 5,852 | ||||||||||||||
| Mortgage servicing | 1,019 | 1,042 | 1,113 | 3,051 | 3,279 | ||||||||||||||
| Mortgage servicing rights fair value adjustment | (514 | ) | (751 | ) | (1,488 | ) | (1,573 | ) | (1,505 | ) | |||||||||
| Gains on sale of mortgage loans | 390 | 459 | 461 | 1,101 | 1,202 | ||||||||||||||
| Realized gains (losses) on sales of securities | (49 | ) | — | — | (49 | ) | (3,382 | ) | |||||||||||
| Unrealized gains (losses) on equity securities | (67 | ) | 23 | 136 | (36 | ) | 24 | ||||||||||||
| Gains (losses) on foreclosed assets | 148 | 14 | (44 | ) | 175 | 15 | |||||||||||||
| Gains (losses) on other assets | (14 | ) | (128 | ) | (2 | ) | (88 | ) | (637 | ) | |||||||||
| Income on bank owned life insurance | 169 | 167 | 170 | 500 | 500 | ||||||||||||||
| Other noninterest income | 820 | 776 | 855 | 2,396 | 2,499 | ||||||||||||||
| Total noninterest income | 9,849 | 9,140 | 8,705 | 28,295 | 23,941 | ||||||||||||||
| NONINTEREST EXPENSE | |||||||||||||||||||
| Salaries | 16,351 | 16,452 | 16,325 | 49,856 | 49,346 | ||||||||||||||
| Employee benefits | 3,314 | 3,580 | 2,997 | 10,179 | 8,662 | ||||||||||||||
| Occupancy of bank premises | 2,826 | 2,471 | 2,695 | 7,922 | 7,520 | ||||||||||||||
| Furniture and equipment | 737 | 575 | 446 | 1,757 | 1,544 | ||||||||||||||
| Data processing | 2,791 | 2,687 | 2,640 | 8,195 | 8,171 | ||||||||||||||
| Marketing and customer relations | 1,035 | 1,020 | 1,380 | 3,199 | 3,372 | ||||||||||||||
| Amortization of intangible assets | 694 | 694 | 710 | 2,083 | 2,130 | ||||||||||||||
| Loss on extinguishment of debt | 391 | — | — | 391 | — | ||||||||||||||
| FDIC insurance | 561 | 551 | 572 | 1,674 | 1,697 | ||||||||||||||
| Loan collection and servicing | 264 | 360 | 476 | 1,007 | 1,403 | ||||||||||||||
| Foreclosed assets | 62 | 67 | 19 | 134 | 78 | ||||||||||||||
| Other noninterest expense | 3,482 | 3,457 | 3,062 | 9,960 | 9,176 | ||||||||||||||
| Total noninterest expense | 32,508 | 31,914 | 31,322 | 96,357 | 93,099 | ||||||||||||||
| INCOME BEFORE INCOME TAX EXPENSE | 26,731 | 26,358 | 24,513 | 78,592 | 69,985 | ||||||||||||||
| INCOME TAX EXPENSE | 6,966 | 7,128 | 6,333 | 20,522 | 18,477 | ||||||||||||||
| NET INCOME | $ | 19,765 | $ | 19,230 | $ | 18,180 | $ | 58,070 | $ | 51,508 | |||||||||
| EARNINGS PER SHARE - BASIC | $ | 0.63 | $ | 0.61 | $ | 0.58 | $ | 1.84 | $ | 1.63 | |||||||||
| EARNINGS PER SHARE - DILUTED | $ | 0.63 | $ | 0.61 | $ | 0.57 | $ | 1.84 | $ | 1.62 | |||||||||
| WEIGHTED AVERAGE SHARES OF COMMON STOCK OUTSTANDING | 31,481,135 | 31,510,759 | 31,559,366 | 31,525,247 | 31,600,442 | ||||||||||||||
| HBT Financial, Inc. Unaudited Consolidated Financial Summary Consolidated Balance Sheets | |||||||||||
| (dollars in thousands) | September 30, 2025 | June 30, 2025 | September 30, 2024 | ||||||||
| ASSETS | |||||||||||
| Cash and due from banks | $ | 21,767 | $ | 25,563 | $ | 26,776 | |||||
| Interest-bearing deposits with banks | 133,366 | 170,179 | 152,895 | ||||||||
| Cash and cash equivalents | 155,133 | 195,742 | 179,671 | ||||||||
| Debt securities available-for-sale, at fair value | 793,730 | 773,206 | 710,303 | ||||||||
| Debt securities held-to-maturity | 466,565 | 481,942 | 505,075 | ||||||||
| Equity securities with readily determinable fair value | 3,279 | 3,346 | 3,364 | ||||||||
| Equity securities with no readily determinable fair value | 2,609 | 2,609 | 2,638 | ||||||||
| Restricted stock, at cost | 4,979 | 4,979 | 5,086 | ||||||||
| Loans held for sale | 1,432 | 2,316 | 2,959 | ||||||||
| Loans, before allowance for credit losses | 3,400,029 | 3,348,211 | 3,369,830 | ||||||||
| Allowance for credit losses | (41,900 | ) | (41,659 | ) | (40,966 | ) | |||||
| Loans, net of allowance for credit losses | 3,358,129 | 3,306,552 | 3,328,864 | ||||||||
| Bank owned life insurance | 24,489 | 24,320 | 24,405 | ||||||||
| Bank premises and equipment, net | 69,965 | 68,523 | 65,919 | ||||||||
| Bank premises held for sale | — | 140 | 317 | ||||||||
| Foreclosed assets | 1,007 | 890 | 376 | ||||||||
| Goodwill | 59,820 | 59,820 | 59,820 | ||||||||
| Intangible assets, net | 15,760 | 16,454 | 18,552 | ||||||||
| Mortgage servicing rights, at fair value | 17,254 | 17,768 | 17,496 | ||||||||
| Investments in unconsolidated subsidiaries | 1,614 | 1,614 | 1,614 | ||||||||
| Accrued interest receivable | 23,575 | 20,624 | 24,160 | ||||||||
| Other assets | 35,687 | 37,553 | 40,109 | ||||||||
| Total assets | $ | 5,035,027 | $ | 5,018,398 | $ | 4,990,728 | |||||
| LIABILITIES AND STOCKHOLDERS' EQUITY | |||||||||||
| Liabilities | |||||||||||
| Deposits: | |||||||||||
| Noninterest-bearing | $ | 1,034,181 | $ | 1,034,387 | $ | 1,008,359 | |||||
| Interest-bearing | 3,313,006 | 3,272,144 | 3,272,341 | ||||||||
| Total deposits | 4,347,187 | 4,306,531 | 4,280,700 | ||||||||
| Securities sold under agreements to repurchase | — | 556 | 29,029 | ||||||||
| Federal Home Loan Bank advances | 7,271 | 7,240 | 13,435 | ||||||||
| Subordinated notes | — | 39,593 | 39,533 | ||||||||
| Junior subordinated debentures issued to capital trusts | 52,894 | 52,879 | 52,834 | ||||||||
| Other liabilities | 28,546 | 30,702 | 37,535 | ||||||||
| Total liabilities | 4,435,898 | 4,437,501 | 4,453,066 | ||||||||
| Stockholders' Equity | |||||||||||
| Common stock | 329 | 329 | 328 | ||||||||
| Surplus | 297,992 | 297,479 | 296,810 | ||||||||
| Retained earnings | 354,864 | 341,750 | 302,532 | ||||||||
| Accumulated other comprehensive income (loss) | (27,119 | ) | (32,739 | ) | (38,989 | ) | |||||
| Treasury stock at cost | (26,937 | ) | (25,922 | ) | (23,019 | ) | |||||
| Total stockholders’ equity | 599,129 | 580,897 | 537,662 | ||||||||
| Total liabilities and stockholders’ equity | $ | 5,035,027 | $ | 5,018,398 | $ | 4,990,728 | |||||
| SHARES OF COMMON STOCK OUTSTANDING | 31,455,803 | 31,495,434 | 31,559,366 | ||||||||
| HBT Financial, Inc. Unaudited Consolidated Financial Summary | ||||||||
| (dollars in thousands) | September 30, 2025 | June 30, 2025 | September 30, 2024 | |||||
| LOANS | ||||||||
| Commercial and industrial | $ | 395,859 | $ | 419,430 | $ | 395,598 | ||
| Commercial real estate - owner occupied | 312,192 | 317,475 | 288,838 | |||||
| Commercial real estate - non-owner occupied | 931,723 | 907,073 | 889,188 | |||||
| Construction and land development | 269,924 | 310,252 | 359,151 | |||||
| Multi-family | 514,801 | 453,812 | 432,712 | |||||
| One-to-four family residential | 443,215 | 451,197 | 472,040 | |||||
| Agricultural and farmland | 280,309 | 271,644 | 297,102 | |||||
| Municipal, consumer, and other | 252,006 | 217,328 | 235,201 | |||||
| Total loans | $ | 3,400,029 | $ | 3,348,211 | $ | 3,369,830 | ||
| (dollars in thousands) | September 30, 2025 | June 30, 2025 | September 30, 2024 | |||||
| DEPOSITS | ||||||||
| Noninterest-bearing deposits | $ | 1,034,181 | $ | 1,034,387 | $ | 1,008,359 | ||
| Interest-bearing deposits: | ||||||||
| Interest-bearing demand | 1,102,815 | 1,097,086 | 1,076,445 | |||||
| Money market | 883,327 | 831,292 | 795,150 | |||||
| Savings | 562,149 | 568,971 | 566,783 | |||||
| Time | 764,715 | 774,795 | 803,964 | |||||
| Brokered | — | — | 29,999 | |||||
| Total interest-bearing deposits | 3,313,006 | 3,272,144 | 3,272,341 | |||||
| Total deposits | $ | 4,347,187 | $ | 4,306,531 | $ | 4,280,700 | ||
| HBT Financial, Inc. Unaudited Consolidated Financial Summary | |||||||||||||||||||||||||||||
| Three Months Ended | |||||||||||||||||||||||||||||
| September 30, 2025 | June 30, 2025 | September 30, 2024 | |||||||||||||||||||||||||||
| (dollars in thousands) | Average Balance | Interest | Yield/Cost * | Average Balance | Interest | Yield/Cost * | Average Balance | Interest | Yield/Cost * | ||||||||||||||||||||
| ASSETS | |||||||||||||||||||||||||||||
| Loans | $ | 3,379,637 | $ | 54,063 | 6.35 | % | $ | 3,417,582 | $ | 54,371 | 6.38 | % | $ | 3,379,299 | $ | 54,783 | 6.45 | % | |||||||||||
| Debt securities | 1,265,683 | 8,779 | 2.75 | 1,217,386 | 7,891 | 2.60 | 1,191,642 | 6,955 | 2.32 | ||||||||||||||||||||
| Deposits with banks | 142,659 | 1,350 | 3.75 | 160,726 | 1,544 | 3.85 | 185,870 | 2,230 | 4.77 | ||||||||||||||||||||
| Other | 12,540 | 144 | 4.51 | 12,519 | 113 | 3.66 | 12,660 | 149 | 4.68 | ||||||||||||||||||||
| Total interest-earning assets | 4,800,519 | $ | 64,336 | 5.32 | % | 4,808,213 | $ | 63,919 | 5.33 | % | 4,769,471 | $ | 64,117 | 5.35 | % | ||||||||||||||
| Allowance for credit losses | (41,711 | ) | (42,118 | ) | (40,780 | ) | |||||||||||||||||||||||
| Noninterest-earning assets | 268,353 | 270,580 | 278,030 | ||||||||||||||||||||||||||
| Total assets | $ | 5,027,161 | $ | 5,036,675 | $ | 5,006,721 | |||||||||||||||||||||||
| LIABILITIES AND STOCKHOLDERS' EQUITY | |||||||||||||||||||||||||||||
| Liabilities | |||||||||||||||||||||||||||||
| Interest-bearing deposits: | |||||||||||||||||||||||||||||
| Interest-bearing demand | $ | 1,113,391 | $ | 1,676 | 0.60 | % | $ | 1,125,787 | $ | 1,569 | 0.56 | % | $ | 1,085,609 | $ | 1,408 | 0.52 | % | |||||||||||
| Money market | 833,812 | 4,638 | 2.21 | 813,531 | 4,463 | 2.20 | 800,651 | 4,726 | 2.35 | ||||||||||||||||||||
| Savings | 568,001 | 399 | 0.28 | 569,193 | 374 | 0.26 | 573,077 | 396 | 0.27 | ||||||||||||||||||||
| Time | 771,360 | 6,282 | 3.23 | 780,536 | 6,429 | 3.30 | 804,379 | 7,702 | 3.81 | ||||||||||||||||||||
| Brokered | — | — | — | — | — | — | 29,996 | 417 | 5.54 | ||||||||||||||||||||
| Total interest-bearing deposits | 3,286,564 | 12,995 | 1.57 | 3,289,047 | 12,835 | 1.57 | 3,293,712 | 14,649 | 1.77 | ||||||||||||||||||||
| Securities sold under agreements to repurchase | 6 | — | — | 1,420 | — | 0.05 | 29,426 | 134 | 1.80 | ||||||||||||||||||||
| Borrowings | 7,256 | 31 | 1.68 | 7,225 | 30 | 1.70 | 13,691 | 119 | 3.47 | ||||||||||||||||||||
| Subordinated notes | 32,714 | 387 | 4.69 | 39,582 | 469 | 4.76 | 39,524 | 470 | 4.73 | ||||||||||||||||||||
| Junior subordinated debentures issued to capital trusts | 52,887 | 937 | 7.04 | 52,871 | 927 | 7.03 | 52,827 | 1,012 | 7.63 | ||||||||||||||||||||
| Total interest-bearing liabilities | 3,379,427 | $ | 14,350 | 1.68 | % | 3,390,145 | $ | 14,261 | 1.69 | % | 3,429,180 | $ | 16,384 | 1.90 | % | ||||||||||||||
| Noninterest-bearing deposits | 1,028,608 | 1,044,539 | 1,013,893 | ||||||||||||||||||||||||||
| Noninterest-bearing liabilities | 30,050 | 29,486 | 39,903 | ||||||||||||||||||||||||||
| Total liabilities | 4,438,085 | 4,464,170 | 4,482,976 | ||||||||||||||||||||||||||
| Stockholders' Equity | 589,076 | 572,505 | 523,745 | ||||||||||||||||||||||||||
| Total liabilities and stockholders’ equity | $ | 5,027,161 | $ | 5,036,675 | $ | 5,006,721 | |||||||||||||||||||||||
| Net interest income/Net interest margin (1) | $ | 49,986 | 4.13 | % | $ | 49,658 | 4.14 | % | $ | 47,733 | 3.98 | % | |||||||||||||||||
| Tax-equivalent adjustment (2) | 552 | 0.05 | 548 | 0.05 | 552 | 0.05 | |||||||||||||||||||||||
| Net interest income (tax-equivalent basis)/ Net interest margin (tax-equivalent basis) (2) (3) | $ | 50,538 | 4.18 | % | $ | 50,206 | 4.19 | % | $ | 48,285 | 4.03 | % | |||||||||||||||||
| Net interest rate spread (4) | 3.64 | % | 3.64 | % | 3.45 | % | |||||||||||||||||||||||
| Net interest-earning assets (5) | $ | 1,421,092 | $ | 1,418,068 | $ | 1,340,291 | |||||||||||||||||||||||
| Ratio of interest-earning assets to interest-bearing liabilities | 1.42 | 1.42 | 1.39 | ||||||||||||||||||||||||||
| Cost of total deposits | 1.19 | % | 1.19 | % | 1.35 | % | |||||||||||||||||||||||
| Cost of funds | 1.29 | 1.29 | 1.47 | ||||||||||||||||||||||||||
____________________________________
* Annualized measure.
(1) Net interest margin represents net interest income divided by average total interest-earning assets.
(2) On a tax-equivalent basis assuming a federal income tax rate of
(3) See “Reconciliation of Non-GAAP Financial Measures” below for reconciliation of non-GAAP financial measures to their most closely comparable GAAP financial measures.
(4) Net interest rate spread represents the difference between the yield on average interest-earning assets and the cost of average interest-bearing liabilities.
(5) Net interest-earning assets represents total interest-earning assets less total interest-bearing liabilities.
| HBT Financial, Inc. Unaudited Consolidated Financial Summary | |||||||||||||||||||
| Nine Months Ended | |||||||||||||||||||
| September 30, 2025 | September 30, 2024 | ||||||||||||||||||
| (dollars in thousands) | Average Balance | Interest | Yield/Cost * | Average Balance | Interest | Yield/Cost * | |||||||||||||
| ASSETS | |||||||||||||||||||
| Loans | $ | 3,419,077 | $ | 162,971 | 6.37 | % | $ | 3,374,875 | $ | 161,077 | 6.38 | % | |||||||
| Debt securities | 1,229,388 | 24,075 | 2.62 | 1,197,772 | 20,592 | 2.30 | |||||||||||||
| Deposits with banks | 141,216 | 3,959 | 3.75 | 188,087 | 6,752 | 4.80 | |||||||||||||
| Other | 12,579 | 388 | 4.12 | 12,744 | 481 | 5.04 | |||||||||||||
| Total interest-earning assets | 4,802,260 | $ | 191,393 | 5.33 | % | 4,773,478 | $ | 188,902 | 5.29 | % | |||||||||
| Allowance for credit losses | (41,962 | ) | (40,611 | ) | |||||||||||||||
| Noninterest-earning assets | 271,193 | 279,789 | |||||||||||||||||
| Total assets | $ | 5,031,491 | $ | 5,012,656 | |||||||||||||||
| LIABILITIES AND STOCKHOLDERS' EQUITY | |||||||||||||||||||
| Liabilities | |||||||||||||||||||
| Interest-bearing deposits: | |||||||||||||||||||
| Interest-bearing demand | $ | 1,119,902 | $ | 4,698 | 0.56 | % | $ | 1,112,198 | $ | 4,148 | 0.50 | % | |||||||
| Money market | 818,453 | 13,498 | 2.20 | 800,693 | 14,193 | 2.37 | |||||||||||||
| Savings | 568,891 | 1,143 | 0.27 | 592,134 | 1,232 | 0.28 | |||||||||||||
| Time | 778,618 | 19,430 | 3.34 | 744,349 | 20,744 | 3.72 | |||||||||||||
| Brokered | — | — | — | 50,046 | 2,058 | 5.49 | |||||||||||||
| Total interest-bearing deposits | 3,285,864 | 38,769 | 1.58 | 3,299,420 | 42,375 | 1.72 | |||||||||||||
| Securities sold under agreements to repurchase | 3,361 | 22 | 0.89 | 30,769 | 415 | 1.80 | |||||||||||||
| Borrowings | 9,103 | 170 | 2.49 | 13,387 | 365 | 3.64 | |||||||||||||
| Subordinated notes | 37,261 | 1,326 | 4.76 | 39,504 | 1,409 | 4.76 | |||||||||||||
| Junior subordinated debentures issued to capital trusts | 52,871 | 2,754 | 6.97 | 52,812 | 2,889 | 7.31 | |||||||||||||
| Total interest-bearing liabilities | 3,388,460 | $ | 43,041 | 1.70 | % | 3,435,892 | $ | 47,453 | 1.84 | % | |||||||||
| Noninterest-bearing deposits | 1,039,564 | 1,031,239 | |||||||||||||||||
| Noninterest-bearing liabilities | 31,242 | 38,943 | |||||||||||||||||
| Total liabilities | 4,459,266 | 4,506,074 | |||||||||||||||||
| Stockholders' Equity | 572,225 | 506,582 | |||||||||||||||||
| Total liabilities and stockholders’ equity | $ | 5,031,491 | 5,012,656 | ||||||||||||||||
| Net interest income/Net interest margin (1) | $ | 148,352 | 4.13 | % | $ | 141,449 | 3.96 | % | |||||||||||
| Tax-equivalent adjustment (2) | 1,645 | 0.05 | 1,680 | 0.05 | |||||||||||||||
| Net interest income (tax-equivalent basis)/ Net interest margin (tax-equivalent basis) (2) (3) | $ | 149,997 | 4.18 | % | $ | 143,129 | 4.01 | % | |||||||||||
| Net interest rate spread (4) | 3.63 | % | 3.45 | % | |||||||||||||||
| Net interest-earning assets (5) | $ | 1,413,800 | $ | 1,337,586 | |||||||||||||||
| Ratio of interest-earning assets to interest-bearing liabilities | 1.42 | 1.39 | |||||||||||||||||
| Cost of total deposits | 1.20 | % | 1.31 | % | |||||||||||||||
| Cost of funds | 1.30 | 1.42 | |||||||||||||||||
____________________________________
(1) Net interest margin represents net interest income divided by average total interest-earning assets.
(2) On a tax-equivalent basis assuming a federal income tax rate of
(3) See "Reconciliation of Non-GAAP Financial Measures" below for reconciliation of non-GAAP financial measures to their most closely comparable GAAP financial measures.
(4) Net interest rate spread represents the difference between the yield on average interest-earning assets and the cost of average interest-bearing liabilities.
(5) Net interest-earning assets represents total interest-earning assets less total interest-bearing liabilities.
| HBT Financial, Inc. Unaudited Consolidated Financial Summary | |||||||||||
| (dollars in thousands) | September 30, 2025 | June 30, 2025 | September 30, 2024 | ||||||||
| NONPERFORMING ASSETS | |||||||||||
| Nonaccrual | $ | 7,637 | $ | 5,615 | $ | 8,200 | |||||
| Past due 90 days or more, still accruing | 5 | 9 | 5 | ||||||||
| Total nonperforming loans | 7,642 | 5,624 | 8,205 | ||||||||
| Foreclosed assets | 1,007 | 890 | 376 | ||||||||
| Total nonperforming assets | $ | 8,649 | $ | 6,514 | $ | 8,581 | |||||
| Nonperforming loans that are wholly or partially guaranteed by the U.S. Government | $ | 1,760 | $ | 1,878 | $ | 2,046 | |||||
| Allowance for credit losses | $ | 41,900 | $ | 41,659 | $ | 40,966 | |||||
| Loans, before allowance for credit losses | 3,400,029 | 3,348,211 | 3,369,830 | ||||||||
| CREDIT QUALITY RATIOS | |||||||||||
| Allowance for credit losses to loans, before allowance for credit losses | 1.23 | % | 1.24 | % | 1.22 | % | |||||
| Allowance for credit losses to nonaccrual loans | 548.64 | 741.92 | 499.59 | ||||||||
| Allowance for credit losses to nonperforming loans | 548.29 | 740.74 | 499.28 | ||||||||
| Nonaccrual loans to loans, before allowance for credit losses | 0.22 | 0.17 | 0.24 | ||||||||
| Nonperforming loans to loans, before allowance for credit losses | 0.22 | 0.17 | 0.24 | ||||||||
| Nonperforming assets to total assets | 0.17 | 0.13 | 0.17 | ||||||||
| Nonperforming assets to loans, before allowance for credit losses, and foreclosed assets | 0.25 | 0.19 | 0.25 | ||||||||
| Three Months Ended | Nine Months Ended September 30, | ||||||||||||||||||
| (dollars in thousands) | September 30, 2025 | June 30, 2025 | September 30, 2024 | 2025 | 2024 | ||||||||||||||
| ALLOWANCE FOR CREDIT LOSSES | |||||||||||||||||||
| Beginning balance | $ | 41,659 | $ | 42,111 | $ | 40,806 | $ | 42,044 | $ | 40,048 | |||||||||
| Provision for credit losses | 375 | 595 | 746 | 1,466 | 1,983 | ||||||||||||||
| Charge-offs | (723 | ) | (1,252 | ) | (1,101 | ) | (2,640 | ) | (2,198 | ) | |||||||||
| Recoveries | 589 | 205 | 515 | 1,030 | 1,133 | ||||||||||||||
| Ending balance | $ | 41,900 | $ | 41,659 | $ | 40,966 | $ | 41,900 | $ | 40,966 | |||||||||
| Net charge-offs | $ | 134 | $ | 1,047 | $ | 586 | $ | 1,610 | $ | 1,065 | |||||||||
| Average loans | 3,379,637 | 3,417,582 | 3,379,299 | 3,419,077 | 3,374,875 | ||||||||||||||
| Net charge-offs to average loans * | 0.02 | % | 0.12 | % | 0.07 | % | 0.06 | % | 0.04 | % | |||||||||
____________________________________
* Annualized measure.
| Three Months Ended | Nine Months Ended September 30, | |||||||||||||||
| (dollars in thousands) | September 30, 2025 | June 30, 2025 | September 30, 2024 | 2025 | 2024 | |||||||||||
| PROVISION FOR CREDIT LOSSES | ||||||||||||||||
| Loans | $ | 375 | $ | 595 | $ | 746 | $ | 1,466 | $ | 1,983 | ||||||
| Unfunded lending-related commitments | 221 | (69 | ) | (143 | ) | 232 | 323 | |||||||||
| Total provision for credit losses | $ | 596 | $ | 526 | $ | 603 | $ | 1,698 | $ | 2,306 | ||||||
Reconciliation of Non-GAAP Financial Measures –
Adjusted Net Income and Adjusted Return on Average Assets
| Three Months Ended | Nine Months Ended September 30, | |||||||||||||||||||
| (dollars in thousands) | September 30, 2025 | June 30, 2025 | September 30, 2024 | 2025 | 2024 | |||||||||||||||
| Net income | $ | 19,765 | $ | 19,230 | $ | 18,180 | $ | 58,070 | $ | 51,508 | ||||||||||
| Less: adjustments | ||||||||||||||||||||
| Loss on extinguishment of debt | (391 | ) | — | — | (391 | ) | — | |||||||||||||
| Gains (losses) on closed branch premises | (7 | ) | (50 | ) | — | 2 | (635 | ) | ||||||||||||
| Realized gains (losses) on sales of securities | (49 | ) | — | — | (49 | ) | (3,382 | ) | ||||||||||||
| Mortgage servicing rights fair value adjustment | (514 | ) | (751 | ) | (1,488 | ) | (1,573 | ) | (1,505 | ) | ||||||||||
| Total adjustments | (961 | ) | (801 | ) | (1,488 | ) | (2,011 | ) | (5,522 | ) | ||||||||||
| Tax effect of adjustments (1) | 274 | 228 | 424 | 573 | 1,574 | |||||||||||||||
| Total adjustments after tax effect | (687 | ) | (573 | ) | (1,064 | ) | (1,438 | ) | (3,948 | ) | ||||||||||
| Adjusted net income | $ | 20,452 | $ | 19,803 | $ | 19,244 | $ | 59,508 | $ | 55,456 | ||||||||||
| Average assets | $ | 5,027,161 | $ | 5,036,675 | $ | 5,006,721 | $ | 5,031,491 | $ | 5,012,656 | ||||||||||
| Return on average assets * | 1.56 | % | 1.53 | % | 1.44 | % | 1.54 | % | 1.37 | % | ||||||||||
| Adjusted return on average assets * | 1.61 | 1.58 | 1.53 | 1.58 | 1.48 | |||||||||||||||
____________________________________
* Annualized measure.
(1) Assumes a federal income tax rate of
Reconciliation of Non-GAAP Financial Measures –
Adjusted Earnings Per Share — Basic and Diluted
| Three Months Ended | Nine Months Ended September 30, | ||||||||||||||
| (dollars in thousands, except per share amounts) | September 30, 2025 | June 30, 2025 | September 30, 2024 | 2025 | 2024 | ||||||||||
| Numerator: | |||||||||||||||
| Net income | $ | 19,765 | $ | 19,230 | $ | 18,180 | $ | 58,070 | $ | 51,508 | |||||
| Adjusted net income | $ | 20,452 | $ | 19,803 | $ | 19,244 | $ | 59,508 | $ | 55,456 | |||||
| Denominator: | |||||||||||||||
| Weighted average common shares outstanding | 31,481,135 | 31,510,759 | 31,559,366 | 31,525,247 | 31,600,442 | ||||||||||
| Dilutive effect of outstanding restricted stock units | 106,800 | 77,782 | 118,180 | 103,682 | 115,266 | ||||||||||
| Weighted average common shares outstanding, including all dilutive potential shares | 31,587,935 | 31,588,541 | 31,677,546 | 31,628,929 | 31,715,708 | ||||||||||
| Earnings per share - basic | $ | 0.63 | $ | 0.61 | $ | 0.58 | $ | 1.84 | $ | 1.63 | |||||
| Earnings per share - diluted | $ | 0.63 | $ | 0.61 | $ | 0.57 | $ | 1.84 | $ | 1.62 | |||||
| Adjusted earnings per share - basic | $ | 0.65 | $ | 0.63 | $ | 0.61 | $ | 1.89 | $ | 1.75 | |||||
| Adjusted earnings per share - diluted | $ | 0.65 | $ | 0.63 | $ | 0.61 | $ | 1.88 | $ | 1.75 | |||||
Reconciliation of Non-GAAP Financial Measures –
Pre-Provision Net Revenue, Pre-Provision Net Revenue Less Net Charge-offs (Recoveries),
Adjusted Pre-Provision Net Revenue, and Adjusted Pre-Provision Net Revenue Less Net Charge-offs (Recoveries)
| Three Months Ended | Nine Months Ended September 30, | |||||||||||||||||||
| (dollars in thousands) | September 30, 2025 | June 30, 2025 | September 30, 2024 | 2025 | 2024 | |||||||||||||||
| Net interest income | $ | 49,986 | $ | 49,658 | $ | 47,733 | $ | 148,352 | $ | 141,449 | ||||||||||
| Noninterest income | 9,849 | 9,140 | 8,705 | 28,295 | 23,941 | |||||||||||||||
| Noninterest expense | (32,508 | ) | (31,914 | ) | (31,322 | ) | (96,357 | ) | (93,099 | ) | ||||||||||
| Pre-provision net revenue | 27,327 | 26,884 | 25,116 | 80,290 | 72,291 | |||||||||||||||
| Less: adjustments | ||||||||||||||||||||
| Loss on extinguishment of debt | (391 | ) | — | — | (391 | ) | — | |||||||||||||
| Gains (losses) on closed branch premises | (7 | ) | (50 | ) | — | 2 | (635 | ) | ||||||||||||
| Realized gains (losses) on sales of securities | (49 | ) | — | — | (49 | ) | (3,382 | ) | ||||||||||||
| Mortgage servicing rights fair value adjustment | (514 | ) | (751 | ) | (1,488 | ) | (1,573 | ) | (1,505 | ) | ||||||||||
| Total adjustments | (961 | ) | (801 | ) | (1,488 | ) | (2,011 | ) | (5,522 | ) | ||||||||||
| Adjusted pre-provision net revenue | $ | 28,288 | $ | 27,685 | $ | 26,604 | $ | 82,301 | $ | 77,813 | ||||||||||
| Pre-provision net revenue | $ | 27,327 | $ | 26,884 | $ | 25,116 | $ | 80,290 | $ | 72,291 | ||||||||||
| Less: net charge-offs | 134 | 1,047 | 586 | 1,610 | 1,065 | |||||||||||||||
| Pre-provision net revenue less net charge-offs | $ | 27,193 | $ | 25,837 | $ | 24,530 | $ | 78,680 | $ | 71,226 | ||||||||||
| Adjusted pre-provision net revenue | $ | 28,288 | $ | 27,685 | $ | 26,604 | $ | 82,301 | $ | 77,813 | ||||||||||
| Less: net charge-offs | 134 | 1,047 | 586 | 1,610 | 1,065 | |||||||||||||||
| Adjusted pre-provision net revenue less net charge-offs | $ | 28,154 | $ | 26,638 | $ | 26,018 | $ | 80,691 | $ | 76,748 | ||||||||||
Reconciliation of Non-GAAP Financial Measures –
Net Interest Income (Tax-equivalent Basis) and Net Interest Margin (Tax-equivalent Basis)
| Three Months Ended | Nine Months Ended September 30, | |||||||||||||||||||
| (dollars in thousands) | September 30, 2025 | June 30, 2025 | September 30, 2024 | 2025 | 2024 | |||||||||||||||
| Net interest income (tax-equivalent basis) | ||||||||||||||||||||
| Net interest income | $ | 49,986 | $ | 49,658 | $ | 47,733 | $ | 148,352 | $ | 141,449 | ||||||||||
| Tax-equivalent adjustment (1) | 552 | 548 | 552 | 1,645 | 1,680 | |||||||||||||||
| Net interest income (tax-equivalent basis) (1) | $ | 50,538 | $ | 50,206 | $ | 48,285 | $ | 149,997 | $ | 143,129 | ||||||||||
| Net interest margin (tax-equivalent basis) | ||||||||||||||||||||
| Net interest margin * | 4.13 | % | 4.14 | % | 3.98 | % | 4.13 | % | 3.96 | % | ||||||||||
| Tax-equivalent adjustment * (1) | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | |||||||||||||||
| Net interest margin (tax-equivalent basis) * (1) | 4.18 | % | 4.19 | % | 4.03 | % | 4.18 | % | 4.01 | % | ||||||||||
| Average interest-earning assets | $ | 4,800,519 | $ | 4,808,213 | $ | 4,769,471 | $ | 4,802,260 | $ | 4,773,478 | ||||||||||
____________________________________
* Annualized measure.
(1) On a tax-equivalent basis assuming a federal income tax rate of
Reconciliation of Non-GAAP Financial Measures –
Efficiency Ratio (Tax-equivalent Basis) and Adjusted Efficiency Ratio (Tax-equivalent Basis)
| Three Months Ended | Nine Months Ended September 30, | |||||||||||||||||||
| (dollars in thousands) | September 30, 2025 | June 30, 2025 | September 30, 2024 | 2025 | 2024 | |||||||||||||||
| Total noninterest expense | $ | 32,508 | $ | 31,914 | $ | 31,322 | $ | 96,357 | $ | 93,099 | ||||||||||
| Less: amortization of intangible assets | 694 | 694 | 710 | 2,083 | 2,130 | |||||||||||||||
| Noninterest expense excluding amortization of intangible assets | 31,814 | 31,220 | 30,612 | 94,274 | 90,969 | |||||||||||||||
| Less: adjustments to noninterest expense | ||||||||||||||||||||
| Loss on extinguishment of debt | 391 | — | — | 391 | — | |||||||||||||||
| Total adjustments to noninterest expense | 391 | — | — | 391 | — | |||||||||||||||
| Adjusted noninterest expense | $ | 31,423 | $ | 31,220 | $ | 30,612 | $ | 93,883 | $ | 90,969 | ||||||||||
| Net interest income | $ | 49,986 | $ | 49,658 | $ | 47,733 | $ | 148,352 | $ | 141,449 | ||||||||||
| Total noninterest income | 9,849 | 9,140 | 8,705 | 28,295 | 23,941 | |||||||||||||||
| Operating revenue | 59,835 | 58,798 | 56,438 | 176,647 | 165,390 | |||||||||||||||
| Tax-equivalent adjustment (1) | 552 | 548 | 552 | 1,645 | 1,680 | |||||||||||||||
| Operating revenue (tax-equivalent basis) (1) | 60,387 | 59,346 | 56,990 | 178,292 | 167,070 | |||||||||||||||
| Less: adjustments to noninterest income | ||||||||||||||||||||
| Gains (losses) on closed branch premises | (7 | ) | (50 | ) | — | 2 | (635 | ) | ||||||||||||
| Realized gains (losses) on sales of securities | (49 | ) | — | — | (49 | ) | (3,382 | ) | ||||||||||||
| Mortgage servicing rights fair value adjustment | (514 | ) | (751 | ) | (1,488 | ) | (1,573 | ) | (1,505 | ) | ||||||||||
| Total adjustments to noninterest income | (570 | ) | (801 | ) | (1,488 | ) | (1,620 | ) | (5,522 | ) | ||||||||||
| Adjusted operating revenue (tax-equivalent basis) (1) | $ | 60,957 | $ | 60,147 | $ | 58,478 | $ | 179,912 | $ | 172,592 | ||||||||||
| Efficiency ratio | 53.17 | % | 53.10 | % | 54.24 | % | 53.37 | % | 55.00 | % | ||||||||||
| Efficiency ratio (tax-equivalent basis) (1) | 52.68 | 52.61 | 53.71 | 52.88 | 54.45 | |||||||||||||||
| Adjusted efficiency ratio (tax-equivalent basis) (1) | 51.55 | 51.91 | 52.35 | 52.18 | 52.71 | |||||||||||||||
____________________________________
(1) On a tax-equivalent basis assuming a federal income tax rate of
Reconciliation of Non-GAAP Financial Measures –
Ratio of Tangible Common Equity to Tangible Assets and Tangible Book Value Per Share
| (dollars in thousands, except per share data) | September 30, 2025 | June 30, 2025 | September 30, 2024 | |||||||||
| Tangible Common Equity | ||||||||||||
| Total stockholders' equity | $ | 599,129 | $ | 580,897 | $ | 537,662 | ||||||
| Less: Goodwill | 59,820 | 59,820 | 59,820 | |||||||||
| Less: Intangible assets, net | 15,760 | 16,454 | 18,552 | |||||||||
| Tangible common equity | $ | 523,549 | $ | 504,623 | $ | 459,290 | ||||||
| Tangible Assets | ||||||||||||
| Total assets | $ | 5,035,027 | $ | 5,018,398 | $ | 4,990,728 | ||||||
| Less: Goodwill | 59,820 | 59,820 | 59,820 | |||||||||
| Less: Intangible assets, net | 15,760 | 16,454 | 18,552 | |||||||||
| Tangible assets | $ | 4,959,447 | $ | 4,942,124 | $ | 4,912,356 | ||||||
| Total stockholders' equity to total assets | 11.90 | % | 11.58 | % | 10.77 | % | ||||||
| Tangible common equity to tangible assets | 10.56 | 10.21 | 9.35 | |||||||||
| Shares of common stock outstanding | 31,455,803 | 31,495,434 | 31,559,366 | |||||||||
| Book value per share | $ | 19.05 | $ | 18.44 | $ | 17.04 | ||||||
| Tangible book value per share | 16.64 | 16.02 | 14.55 | |||||||||
Reconciliation of Non-GAAP Financial Measures –
Return on Average Tangible Common Equity,
Adjusted Return on Average Stockholders' Equity and Adjusted Return on Average Tangible Common Equity
| Three Months Ended | Nine Months Ended September 30, | |||||||||||||||||||
| (dollars in thousands) | September 30, 2025 | June 30, 2025 | September 30, 2024 | 2025 | 2024 | |||||||||||||||
| Average Tangible Common Equity | ||||||||||||||||||||
| Total stockholders' equity | $ | 589,076 | $ | 572,505 | $ | 523,745 | $ | 572,225 | $ | 506,582 | ||||||||||
| Less: Goodwill | 59,820 | 59,820 | 59,820 | 59,820 | 59,820 | |||||||||||||||
| Less: Intangible assets, net | 16,095 | 16,782 | 18,892 | 16,781 | 19,607 | |||||||||||||||
| Average tangible common equity | $ | 513,161 | $ | 495,903 | $ | 445,033 | $ | 495,624 | $ | 427,155 | ||||||||||
| Net income | $ | 19,765 | $ | 19,230 | $ | 18,180 | $ | 58,070 | $ | 51,508 | ||||||||||
| Adjusted net income | 20,452 | 19,803 | 19,244 | 59,508 | 55,456 | |||||||||||||||
| Return on average stockholders' equity * | 13.31 | % | 13.47 | % | 13.81 | % | 13.57 | % | 13.58 | % | ||||||||||
| Return on average tangible common equity * | 15.28 | 15.55 | 16.25 | 15.66 | 16.11 | |||||||||||||||
| Adjusted return on average stockholders' equity * | 13.77 | % | 13.87 | % | 14.62 | % | 13.90 | % | 14.62 | % | ||||||||||
| Adjusted return on average tangible common equity * | 15.81 | 16.02 | 17.20 | 16.05 | 17.34 | |||||||||||||||
____________________________________
* Annualized measure.
FAQ
What were HBT (NASDAQ: HBT) Q3 2025 earnings and EPS?
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