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

Rhea-AI Summary

BLOOMINGTON, Ill., Dec. 14, 2021 – HBT Financial announced a new stock repurchase program, effective upon the expiration of its current program on December 31, 2021. The new program allows for the repurchase of up to $15 million of common stock until January 1, 2023. Repurchases may be conducted on the open market or through private transactions, dependent on market conditions. As of September 30, 2021, HBT had total assets of $3.9 billion, total loans of $2.1 billion, and total deposits of $3.4 billion.

Positive

• Authorization of a $15 million stock repurchase program enhances shareholder value.
• Repurchase program indicates management's confidence in the company's future performance.

Negative

• None.

BLOOMINGTON, Ill., Dec. 14, 2021 (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 December 31, 2021. The Company will not execute additional repurchases under the current program after December 31, 2021. 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, 2023 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. HBT provides 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 and Eastern Iowa through 61 branches. As of September 30, 2021, HBT had total assets of $3.9 billion, total loans of $2.1 billion, and total deposits of $3.4 billion. HBT is a longstanding Central Illinois company, now with operations in Eastern Iowa, with banking roots that can be traced back to 1920.

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

FAQ

What is the new stock repurchase program for HBT Financial?

HBT Financial's new stock repurchase program allows for the repurchase of up to $15 million of common stock, effective after December 31, 2021.

How long will HBT Financial's stock repurchase program last?

The stock repurchase program will be in effect until January 1, 2023.

What factors will influence HBT Financial's stock repurchases?

Factors include price, trading volume, corporate and regulatory requirements, and market conditions.

Is HBT Financial obligated to repurchase shares under the new program?

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