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

Rhea-AI Summary

HBT Financial has announced a stock repurchase program allowing for the buyback of up to $15 million of its common stock. This initiative reflects the company's strategy to enhance shareholder value through opportunistic repurchases on the open market or in private transactions. The program, effective until December 31, 2021, depends on various factors including market conditions and trading volume. As of September 30, 2020, HBT Financial reported $3.5 billion in total assets.

Positive

• Share repurchase program of up to $15 million aimed at enhancing shareholder value.
• Demonstrates confidence in company's financial stability with total assets of $3.5 billion.

Negative

• None.

BLOOMINGTON, Ill., Nov. 03, 2020 (GLOBE NEWSWIRE) -- HBT Financial, Inc. (NASDAQ: HBT) (the “Company” or “HBT Financial”) announced today that its Board of Directors has approved a stock repurchase program (the “Program”) that 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 December 31, 2021 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. is headquartered in Bloomington, Illinois and is the holding company for Heartland Bank and Trust Company and State Bank of Lincoln. The banks provide a comprehensive suite of business, commercial, wealth management, and retail banking products and services to individuals, businesses and municipal entities throughout Central and Northeastern Illinois through 63 branches. As of September 30, 2020, HBT had total assets of $3.5 billion, total loans of $2.3 billion, and total deposits of $3.0 billion. HBT is a longstanding Central Illinois company, with banking roots that can be traced back 100 years.

CONTACT:
Matthew Keating
HBTIR@hbtbank.com
(310) 622-8230

FAQ

What is the stock repurchase program for HBT Financial?

HBT Financial's stock repurchase program allows for the buyback of up to $15 million of its common stock to enhance shareholder value.

When does the HBT Financial buyback program end?

The stock repurchase program is set to remain in effect until December 31, 2021.

How will HBT Financial conduct the stock buybacks?

Repurchases may be made on the open market, through privately negotiated transactions, or other legally compliant methods.

What are the financial standings of HBT Financial as of September 2020?

As of September 30, 2020, HBT Financial reported total assets of $3.5 billion, total loans of $2.3 billion, and total deposits of $3.0 billion.

Will HBT Financial be obligated to purchase shares under the buyback program?

No, HBT Financial is not obligated to purchase shares and can suspend or discontinue the program at any time.