HBT Financial, Inc.

Listed Company

HBTCIK 0000775215NasdaqAcceleratedState Commercial BanksDelawareFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$77.01M

Total Assets

$5.07B

Equity

$615.50M

Shares Out

31.43M

Op. Cash Flow

$85.07M

Business

HBT Financial, Inc. is a bank holding company that provides commercial and consumer banking services through its subsidiary community bank. It offers deposit accounts, a broad range of lending products (including commercial real estate, commercial and industrial, agricultural, residential mortgages and consumer loans), digital banking, wealth management, trust services, farmland management and mortgage origination and servicing. Key business divisions include its commercial lending, retail banking, wealth management and mortgage origination businesses. It distributes products through a network of full‑service branches, digital channels and treasury/relationship banking in Illinois and eastern Iowa.

Summary from filing dated 2025-03-07

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Taxable	212	210	191	120	104
Federally tax exempt	5	5	4	3	2
Taxable	31	26	26	23	17
Federally tax exempt	2	2	4	5	4
Interest-bearing deposits in bank	6	8	3	2	527,000
Other interest and dividend income	547,000	662,000	811,000	229,000	64,000
Total interest and dividend income	256	252	229	153	128
Deposits	52	56	25	3	2
Securities sold under agreements to repurchase	22,000	594,000	255,000	36,000	34,000
Borrowings	203,000	480,000	7	967,000	9,000
Subordinated notes	1	2	2	2	2
Junior subordinated debentures issued to capital trusts	4	4	4	2	1
Total interest expense	57	63	38	7	—
Net interest income	199	189	191	146	122
PROVISION FOR CREDIT LOSSES	3	3	8	−706,000	—
Net interest income after provision for credit losses	196	186	183	147	130
Mortgage servicing	4	4	5	3	3
Mortgage servicing rights fair value adjustment	−2	−174,000	−2	2	2
Gains on sale of mortgage loans	1	2	2	1	6
Realized gains (losses) on sales of securities	−200,000	−4	−2	0	0
Unrealized gains (losses) on equity securities	7,000	−59,000	160,000	−414,000	107,000
Gains (losses) on foreclosed assets	4,000	22,000	501,000	−314,000	310,000
Gains (losses) on other assets	−85,000	−635,000	166,000	136,000	−723,000
Income on bank owned life insurance	671,000	915,000	573,000	164,000	41,000
Other noninterest income	3	3	3	2	3
Total noninterest income	38	36	36	35	37
Salaries	66	65	67	52	49
Employee benefits	14	11	10	8	7
Occupancy of bank premises	11	10	10	8	7
Furniture and equipment	2	2	3	2	3
Data processing	12	11	12	7	7
Marketing and customer relations	4	4	5	4	3
Amortization of intangible assets	3	3	3	873,000	1
Loss on extinguishment of debt	391,000	0	0	—	—
FDIC insurance	2	2	2	1	1
Loan collection and servicing	1	2	1	1	1
Foreclosed assets	169,000	109,000	251,000	293,000	908,000
Other noninterest expense	14	13	17	20	11
Total noninterest expense	129	124	131	105	91
INCOME BEFORE INCOME TAX EXPENSE	105	97	89	76	77
INCOME TAX EXPENSE	27	26	23	20	20
NET INCOME	77	72	66	56	56
EARNINGS PER SHARE - BASIC (in dollars per share)	2.44	2.27	2.08	1.95	2.02
EARNINGS PER SHARE - DILUTED (in dollars per share)	2.44	2.26	2.07	1.95	2.02
WEIGHTED AVERAGE SHARES OF COMMON STOCK OUTSTANDING (in shares)	32	32	32	29	28

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2022 2022-03-31
Cash and due from banks	24	30	26	19	—
Interest-bearing deposits with banks	98	108	115	95	—
Cash and cash equivalents	122	138	141	114	—
Debt securities available-for-sale, at fair value	813	698	759	844	—
Debt securities held-to-maturity (fair value of $426,799 at 2025 and $445,186 at 2024)	459	500	521	115	115
Equity securities with readily determinable fair value	3	3	3	3	—
Equity securities with no readily determinable fair value	3	3	3	2	—
Restricted stock, at cost	5	5	7	8	—
Loans held for sale	1	2	2	615,000	—
Loans, before allowance for credit losses	3,456	3,466	3,404	2,620	—
Allowance for credit losses	−42	−42	−40	−25	—
Loans, net of allowance for credit losses	3,415	3,424	3,364	2,595	—
Bank owned life insurance	25	24	24	8	—
Bank premises and equipment, net	74	67	65	50	—
Bank premises held for sale	0	317,000	0	200,000	—
Foreclosed assets	1	367,000	852,000	3	—
Goodwill	60	60	60	29	—
Intangible assets, net	15	18	21	1	—
Mortgage servicing rights, at fair value	17	19	19	10	—
Investments in unconsolidated subsidiaries	2	2	2	1	—
Accrued interest receivable	24	25	25	20	—
Other assets	34	46	55	56	—
Total assets	5,071	5,033	5,073	4,287	—
Noninterest-bearing	1,049	1,046	1,072	995	—
Interest-bearing	3,310	3,272	3,329	2,592	—
Total deposits	4,359	4,318	4,401	3,587	—
Securities sold under agreements to repurchase	0	29	42	43	—
Federal Home Loan Bank advances	12	13	13	160	—
Subordinated notes	0	40	39	39	—
Junior subordinated debentures issued to capital trusts	53	53	53	38	—
Other liabilities	31	35	35	46	—
Total liabilities	4,456	4,488	4,584	3,913	—
COMMITMENTS AND CONTINGENCIES (Note 23)	—	—	—	—	—
Preferred stock, $0.01 par value; 25,000,000 shares authorized; none issued or outstanding	0	0	0	0	—
Common stock, $0.01 par value; 125,000,000 shares authorized; shares issued of 32,899,104 at 2025 and 32,827,039 at 2024; shares outstanding of 31,431,924 at 2025 and 31,559,366 at 2024	329,000	328,000	327,000	293,000	—
Surplus	299	297	296	223	—
Retained earnings	367	317	269	232	—
Accumulated other comprehensive income (loss)	−23	−47	−57	−72	—
Treasury stock at cost, 1,467,180 shares at 2025 and 1,267,673 at 2024	−28	−23	−19	−10	—
Total stockholders equity	615	545	489	374	—
Total liabilities and stockholders equity	5,071	5,033	5,073	4,287	—

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation expense	3	3	3	3	3
Net amortization of debt securities	2	4	6	7	7
Deferred income tax expense	329,000	996,000	4	−3	3
Stock-based compensation	2	2	2	2	764,000
Net accretion of discount and deferred loan fees on loans	−7	−7	−7	−5	−12
Net loss (gain) on disposals of bank premises and equipment	87,000	55,000	−84,000	−9,000	33,000
Net gain on sales of bank premises held for sale	−52,000	0	−81,000	−187,000	0
Impairment losses on bank premises held for sale	50,000	580,000	0	60,000	661,000
Net gain on sales of foreclosed assets	−155,000	−112,000	−764,000	−118,000	−505,000
Write-down of foreclosed assets	151,000	90,000	263,000	432,000	195,000
Amortization of discount and issuance costs on subordinated notes and debentures	116,000	139,000	139,000	145,000	144,000
Amortization of discount on Federal Home Loan Bank advances	158,000	401,000	379,000	0	−105,000
Amortization of premium on time deposits	0	−108,000	−400,000	−188,000	−81,000
Mortgage loans originated for sale	−49	−63	−70	−56	−180
Proceeds from sale of mortgage loans	51	65	71	62	196
Increase in cash surrender value of bank owned life insurance	−671,000	−668,000	−566,000	−164,000	−41,000
Net gain on bank owned life insurance proceeds	0	−247,000	0	0	—
Decrease (increase) in accrued interest receivable	991,000	−236,000	−2	−5	240,000
Decrease in other assets	645,000	3	2	−8	2
Increase (decrease) in other liabilities	−3	2	−20	22	−18
Net cash provided by operating activities	85	89	66	73	43
Proceeds from maturities of interest-bearing time deposits with banks	0	520,000	249,000	485,000	245,000
Purchase of interest-bearing time deposits with banks	0	−11,000	−509,000	0	0
Proceeds from sales of debt securities	4	69	185	0	—
Proceeds from sales and redemptions of equity securities	81,000	58,000	0	0	—
Proceeds from paydowns, maturities, and calls of debt securities	186	126	103	154	213
Purchase of debt securities	−234	−105	−3	−372	−514
Purchase of equity securities	−64,000	−196,000	−397,000	−51,000	—
Purchase of loans	−10	−15	−61	0	0
Net decrease (increase) in loans	22	−43	−82	−114	−50
Purchase of restricted stock	0	0	−24	−6	−241,000
Proceeds from redemption of restricted stock	107,000	2	27	925,000	796,000
Proceeds from bank owned life insurance	0	831,000	0	0	—
Purchases of bank premises and equipment	−10	−6	−3	−1	−1
Proceeds from sales of bank premises and equipment	76,000	2,000	222,000	—	—
Proceeds from sales of bank premises held for sale	319,000	0	351,000	1	0
Proceeds from sales of foreclosed assets	1	1	4	475,000	6
Net cash paid for acquisition of Town and Country	0	0	−14	0	−5
Net cash provided by (used in) investing activities	−40	32	133	−335	−350
Net increase (decrease) in deposits	41	−83	94	−151	426
Net decrease in repurchase agreements	−29	−13	−639,000	−18	11
Net decrease in short-term Federal Home Loan Bank advances	0	0	−234	—	—
Proceeds from long-term Federal Home Loan Bank advances	7	907,000	0	160	—
Repayment of long-term Federal Home Loan Bank advances	−8	−700,000	0	—	−13
Repayment of subordinated notes	−40	0	0	—	—
Taxes paid related to the vesting of restricted stock units	−691,000	−331,000	−181,000	−57,000	0
Repurchase of common stock	−5	−4	−9	−5	−5
Cash dividends and dividend equivalents paid	−27	−24	−22	−19	−17
Net cash used in financing activities	−61	−125	−171	−33	403
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	−15	−4	27	−295	97
Cash paid for interest	58	65	33	7	6
Federal	18	16	14	—	—
Total	27	24	21	20	21
Transfers of loans to foreclosed assets	2	889,000	1	541,000	5
Transfers of bank premises and equipment to bank premises held for sale	0	317,000	35,000	0	1

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