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HBT Financial, Inc. (NASDAQ: HBT) is a prominent financial holding company headquartered in Bloomington, Illinois. Established in 1920, HBT Financial has a rich history and deep-rooted presence in the financial sector. It is the parent company of Heartland Bank and Trust Company, which operates 67 full-service branches across Central and Northeastern Illinois and Eastern Iowa.
The company offers a comprehensive range of financial services, including business and commercial banking, wealth management, and retail banking products. These services cater to individuals, businesses, and municipal entities, ensuring a broad customer base and diversified revenue streams. HBT Financial is committed to delivering high-quality financial solutions that meet the varied needs of its clients.
As of December 31, 2023, HBT Financial reported total assets of $5.1 billion, total loans of $3.4 billion, and total deposits of $4.4 billion. This robust financial standing reflects the company’s stability and growth potential in a competitive market. Notably, HBT Financial has been actively involved in strategic mergers and acquisitions, such as the Town and Country merger, which has further strengthened its market position.
Recent achievements include the announcement of its fourth-quarter 2023 financial results, highlighting the company's consistent performance and commitment to transparency. The results are scheduled to be released on January 24, 2024, along with an investor presentation available on the company's investor relations website. Additionally, HBT Financial has increased its quarterly cash dividend to $0.19 per share, demonstrating its dedication to shareholder value.
HBT Financial’s community banking model prioritizes personalized customer service and local decision-making, ensuring a strong connection with the communities it serves. With a focus on sustainable growth and innovation, HBT Financial continues to expand its product offerings and enhance its technological capabilities to meet the evolving needs of its customers.
HBT Financial, Inc. reported a net income of $9.2 million ($0.30 per diluted share) for Q1 2023, a decline from $13.1 million in Q4 2022 and $13.6 million in Q1 2022. Adjusted net income rose to $19.9 million ($0.64 per diluted share), up from $13.9 million in the previous quarter. The company completed the acquisition of Town and Country Financial Corporation, adding $906 million in assets and $720 million in deposits. Net interest income increased by 11% from Q4 2022 to $46.8 million, predominantly due to higher yields on interest-earning assets. Non-performing assets stood at 0.20% of total assets, illustrating strong asset quality. Noninterest income decreased by 25.9% year-over-year. The company also experienced a 48.7% rise in noninterest expenses, primarily due to acquisition costs.
BLOOMINGTON, Ill., April 12, 2023 (GLOBE NEWSWIRE) -- HBT Financial, Inc. (NASDAQ: HBT) announces it will release its first quarter 2023 financial results on April 26, 2023, before market opening. The results will be accessible through the Company's investor relations website. HBT Financial, based in Bloomington, has banking roots dating back to 1920. It operates 68 full-service branches and offers diverse banking services across Illinois and Eastern Iowa. As of December 31, 2022, HBT reported total assets of $4.3 billion, total loans of $2.6 billion, and total deposits of $3.6 billion. The upcoming earnings announcement is anticipated by investors, looking for indications of financial performance and future growth.
BLOOMINGTON, Ill., April 3, 2023 (GLOBE NEWSWIRE) -- HBT Financial, Inc. (NASDAQ: HBT) announced a leadership transition effective May 24, 2023. Fred L. Drake, current Chairman and CEO, will become Executive Chairman, while J. Lance Carter, currently President and COO, will take over as President and CEO. Drake praised Carter’s experience in bank management and his longstanding relationship with the board. The board expressed gratitude for Drake's leadership and confidence in Carter's ability. HBT Financial, based in Illinois, manages total assets of $4.3 billion and has a network of 66 branches.
BLOOMINGTON, Ill., Feb. 01, 2023 (GLOBE NEWSWIRE) -- HBT Financial, Inc. (NASDAQ: HBT) announced the successful merger with Town and Country Financial Corporation. As of December 31, 2022, Town and Country Bank reported $923 million in total assets and $762 million in total deposits. This merger extends HBT Financial’s presence into new Illinois markets including Springfield and Quincy. CEO Fred L. Drake expressed enthusiasm about enhancing lending and wealth management services for customers. HBT Financial's total assets are now approximately $4.3 billion, facilitating expanded capabilities and community support.
HBT Financial, Inc. reported a net income of $17.2 million or $0.59 per diluted share for Q4 2022, an increase from $15.6 million in Q3 2022. Adjusted net income rose to $17.9 million or $0.62 per diluted share. ROAA was 1.60%, and ROAE reached 18.50%. The net interest margin expanded to 4.10%, and a quarterly dividend was increased to $0.17 per share. Total loans grew to $2.62 billion, while total deposits decreased to $3.59 billion. HBT anticipates closing its acquisition of Town and Country Financial on February 1, 2023.
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