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Overview
HBT Financial, Inc. is a well-established community banking institution offering a comprehensive suite of financial products and services. Specializing in community, commercial, retail, and wealth management banking, HBT Financial provides tailored financial solutions that address the diverse needs of individuals, businesses, and municipal entities across Central and Northeastern Illinois and Eastern Iowa. With a robust network of full-service branches, the company has embedded itself in the local communities, building long-term relationships and a deep understanding of regional financial dynamics.
Business Model and Core Operations
The company operates through a single reportable segment: community banking. This streamlined focus enables HBT Financial to dedicate its resources and expertise to delivering personalized financial services that include deposit products, lending solutions, and comprehensive wealth management. By leveraging a community-centric approach, the institution provides accessible, relationship-based banking that adapts to the evolving economic needs of its clients. The bank’s revenue is primarily generated from interest income on loans and fee-based services, ensuring a balanced emphasis on sustainable growth and local economic development.
Products and Services
HBT Financial’s offerings encompass a wide variety of financial products designed to serve multiple segments:
- Retail Banking: Products geared towards individual consumers including checking and savings accounts, personal loans, and other standard banking services.
- Commercial Banking: Tailored lending and financing solutions for small to medium-sized enterprises, providing capital for growth and operational efficiency.
- Wealth Management: Comprehensive asset management and financial planning services that help clients secure and maximize their financial wellbeing.
- Municipal Banking: Dedicated services for municipal entities that require specialized banking solutions to manage public finances and infrastructure projects.
Market Position and Competitive Landscape
HBT Financial, Inc. holds a significant place in its regional market by focusing on community relationships and localized expertise. Unlike larger national banks, its business model is rooted in the unique economic conditions and needs of its local clients. This regional focus allows the bank to remain agile, providing customized solutions that larger institutions often cannot match. The competitive edge is further reinforced by a history steeped in local trust and sustained financial acumen, which positions HBT Financial as a credible institution in the community banking segment.
Operational Excellence and Risk Management
The company emphasizes operational excellence through a strategic approach to risk management and a commitment to regulatory compliance. It employs rigorous credit risk assessment methodologies to maintain asset quality and manage potential exposures associated with various lending activities. These efforts are supported by well-established internal controls and a seasoned management team dedicated to protecting depositor interests while ensuring the institution’s long-term stability. This focus on strong governance underscores the company’s commitment to earning and sustaining the trust of its clientele.
Customer Base and Community Engagement
At the heart of HBT Financial’s strategy is its dedication to the communities it serves. The bank’s customer base is diverse, ranging from individual account holders and small business owners to local government entities. This diversified portfolio reflects the institution’s adaptive approach to the financial needs of its clients, ensuring tailored solutions that balance personal service with professional expertise. Community engagement is a core element of its operational strategy, fostering long-standing relationships that enhance customer loyalty and local economic vitality.
Historical Legacy and Institutional Expertise
Tracing its roots back to the early 20th century, HBT Financial’s legacy is characterized by a rich history of adapting to evolving market conditions while maintaining a focus on community values. The institution’s longstanding presence in the region has allowed it to accumulate a vast reservoir of experience and specialized knowledge in community banking. This legacy not only underpins its current operational strengths but also reinforces its status as a trusted financial partner within the communities it serves.
Conclusion
In summary, HBT Financial, Inc. stands as a prominent exemplar of community banking excellence. Its integrated suite of services, ranging from retail banking to sophisticated wealth management solutions, is delivered with a clear understanding of the local economic environment. The company’s focus on operational efficiency, rigorous risk management, and community engagement provides a well-rounded perspective on its role within the financial services industry. As an institution deeply rooted in regional banking tradition, HBT Financial remains a model of consistent performance and localized expertise in an ever-evolving financial landscape.
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.
BLOOMINGTON, Ill., Jan. 11, 2023 - HBT Financial, Inc. (NASDAQ: HBT) will release its fourth quarter 2022 financial results on January 25, 2023, before market open. The press release and an investor presentation will be available on the Company’s investor relations website. HBT Financial, headquartered in Bloomington, Illinois, is the holding company for Heartland Bank and Trust Company, with a banking history dating back to 1920. As of September 30, 2022, HBT reported total assets of $4.2 billion, total loans of $2.6 billion, and total deposits of $3.6 billion.
BLOOMINGTON, Ill., Dec. 21, 2022 - HBT Financial (NASDAQ: HBT) announced a new stock repurchase program authorized by its Board of Directors, set to commence on January 1, 2023, and will allow the repurchase of up to $15 million of common stock. This follows the expiration of the current repurchase program, with purchases to be made at management's discretion based on various market factors. The program is expected to remain active until January 1, 2024, although the company retains the right to suspend or discontinue it at any time without notice.
BLOOMINGTON, Ill., Nov. 23, 2022 – HBT Financial, Inc. (NASDAQ: HBT) announced leadership changes effective January 1, 2023. Patrick F. Busch will step down as Executive VP and Chief Lending Officer, transitioning to Vice Chairman while remaining on the boards. J. Lance Carter will take on additional responsibilities as President of Heartland Bank, and Lawrence J. Horvath will become Executive VP and Chief Lending Officer. HBT has total assets of $4.2 billion, total loans of $2.6 billion, and total deposits of $3.6 billion as of September 30, 2022.
HBT Financial reported a net income of $15.6 million or $0.54 per diluted share for Q3 2022, up from $14.1 million in Q2 2022. The return on average assets (ROAA) stood at 1.47% and the return on average stockholders' equity (ROAE) was 16.27%. Adjusted net income was $15.9 million, or $0.55 per diluted share. Total deposits decreased to $3.64 billion, while total loans increased to $2.58 billion. The company announced a merger agreement with Town and Country Financial, expected to close in Q1 2023.
HBT Financial, Inc. (NASDAQ: HBT) announced it will release its third quarter 2022 financial results on October 24, 2022, before market opening. A press release and investor presentation will be available on the Company’s investor relations website. With a history dating back to 1920, HBT operates 61 branches across Central and Northeastern Illinois and Eastern Iowa, boasting total assets of $4.2 billion, total loans of $2.5 billion, and total deposits of $3.7 billion as of June 30, 2022.
HBT Financial will merge with Town and Country Financial, enhancing its footprint in Illinois and increasing total assets to approximately $5.1 billion. Town and Country, a community bank with $875 million in assets, specializes in commercial banking. The merger is expected to deliver a 17% EPS accretion in 2023 and a short tangible book value dilution earnback period of 2 years. Town and Country shareholders can choose cash, stock, or a combination, with an aggregate transaction value of about $101.4 million. The merger is set to close in Q1 2023, pending regulatory approvals.
HBT Financial, Inc. (NASDAQ: HBT) announced that CFO Matthew J. Doherty will step down on December 31, 2022, transitioning to Treasurer as he approaches retirement. Peter Chapman will join as CFO on January 1, 2023, following his tenure at Great Western Bancorp. Chairman Fred L. Drake praised Doherty's contributions during a significant growth phase, including acquisitions and an IPO. HBT reported total assets of $4.2 billion, loans of $2.5 billion, and deposits of $3.7 billion as of June 30, 2022.
HBT Financial reported a net income of $14.1 million ($0.49 per diluted share) for Q2 2022, reflecting growth from both Q1 2022 ($13.6 million) and Q2 2021 ($13.7 million). The company achieved strong returns with ROAA at 1.32% and ROAE at 14.92%. Net interest income rose 7.7% to $34.4 million, driven by higher yields. However, noninterest income fell 14.9% due to decreased mortgage loan sales. HBT remains capitalized under Basel III with a total capital ratio of 16.76%. A stock repurchase program is ongoing, with $11.6 million remaining authorized.
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