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Core Insights - HBT Financial, Inc. reported a third-quarter earnings per share (EPS) of $0.65, exceeding estimates and showing year-over-year improvement [2][6] - The company's revenue for the quarter was approximately $59.8 million, reflecting a 6% increase compared to the same period last year, despite being slightly below estimates [2][6] Financial Performance - The EPS of $0.65 surpassed the estimated $0.62 and improved from the previous year's EPS of $0.61 [2][6] - Revenue of $59.8 million was slightly below the estimated $60.8 million but represented a 6% year-over-year increase [2][6] Strategic Moves - HBT's merger with CNB Bank Shares is aimed at enhancing future earnings growth, presenting both opportunities and potential integration costs [3][6] - The company maintains a strong net interest margin and solid asset quality, which are essential for financial stability and growth prospects [3][6] Valuation Metrics - HBT has a price-to-earnings (P/E) ratio of approximately 9.92, indicating market valuation of its earnings [4] - The price-to-sales ratio is about 2.61, reflecting its market value relative to sales [4] - The enterprise value to sales ratio is around 2.87, showing the company's total valuation compared to its revenue [4] Financial Health - HBT's low debt-to-equity ratio of 0.17 indicates conservative use of debt [5] - The current ratio of 0.19 suggests potential liquidity challenges in meeting short-term obligations [5] - The company's earnings yield of about 10.08% provides a favorable return on investment for shareholders [5]

Core Insights - HBT Financial reported strong quarterly results, leading to a stock price increase of over 4%, significantly outperforming the S&P 500 index's 1.1% gain [1] Financial Performance - For the third quarter, HBT Financial generated total revenue of $59.8 million, up from $56.4 million in the same period of 2024 [2] - Non-GAAP net income rose by 6% year-over-year to just under $20.5 million, equating to $0.65 per share, surpassing analysts' expectations of $0.62 per share [2][3] Asset Quality and Loan Growth - The company highlighted its asset quality as a key growth factor, with a non-performing assets ratio of less than 0.2% [3] - HBT's loans increased by more than 6% on an annualized basis, attributed to higher loan pipelines, indicating effective management of this critical business segment [4]

Core Insights - HBT Financial, Inc. reported its Q3 2025 earnings, showing modest growth during the three-month period, indicating a stable performance but not exceptional [1]. Financial Performance - The earnings report reflects a solid but not remarkable growth trajectory for HBT Financial, suggesting that the company remains a consistent player in the market [1].

Core Insights - HBT Financial, Inc. reported its Q3 2025 earnings, showing modest growth during the three-month period, indicating a stable performance but not exceptional [1]. Company Performance - The earnings report reflects a company that has been solid in its operations, although it has not been a standout performer in the market [1]. Market Perspective - The financial market is viewed as efficient, with most stocks reflecting their real current value, suggesting that investment opportunities may lie in less-followed stocks or those not accurately reflecting market opportunities [1].

Core Insights - HBT Financial reported a revenue of $59.84 million for the quarter ended September 2025, reflecting a 6% increase year-over-year and a slight surprise of +0.06% over the Zacks Consensus Estimate of $59.8 million [1] - The earnings per share (EPS) for the quarter was $0.65, up from $0.61 in the same quarter last year, with an EPS surprise of +4.84% compared to the consensus estimate of $0.62 [1] Financial Performance Metrics - Net interest margin (FTE) stood at 4.2%, matching the average estimate from two analysts [4] - Average balances of interest-earning assets were reported at $4.8 billion, slightly above the $4.75 billion average estimate [4] - Net charge-offs to average loans were 0%, better than the average estimate of 0.1% [4] - The efficiency ratio was 53.2%, slightly better than the average estimate of 53.5% [4] - Net interest income (FTE) was $50.54 million, exceeding the average estimate of $50.1 million [4] - Total noninterest income was reported at $9.85 million, below the average estimate of $10.01 million [4] - Wealth management fees reached $3.12 million, surpassing the average estimate of $2.88 million [4] Stock Performance - HBT Financial's shares have returned -9.2% over the past month, contrasting with the Zacks S&P 500 composite's +1.1% change [3] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance relative to the broader market in the near term [3]

Q3 2025 Financial Performance - Net income was $198 million, or $063 per diluted share, with a return on average assets (ROAA) of 156% and a return on average tangible common equity (ROATCE) of 1528%[10] - Adjusted net income was $205 million, or $065 per diluted share, with an adjusted ROAA of 161% and an adjusted ROATCE of 1581%[10] - Tangible book value per share increased by 39% from June 30, 2025, and 144% from September 30, 2024[10] - The company maintained a strong net interest margin of 413% and a net interest margin (tax-equivalent basis) of 418%, each down only 1 basis point compared to Q2 2025[13] Asset Quality - Nonperforming assets represented only 017% of total assets as of September 30, 2025, compared to 013% at June 30, 2025[11] - Net charge-offs represented only 002% of average loans on an annualized basis during Q3 2025, compared to 012% of average loans on an annualized basis during Q2 2025[11] Deposit Base - The cost of funds and the cost of total deposits remained unchanged from Q2 2025 at 129% and 119%, respectively[13] - Core deposits represent 954% of total deposits[19] - Uninsured and uncollateralized deposits are estimated to be $618 million, or 14% of total deposits, as of September 30, 2025[33] Loan Portfolio - The loan-to-deposit ratio is 78% as of 3Q25[71] - Chicago MSA region loans grew 84% over the last 12 months[125] - Iowa region loans grew 41% over the last 12 months[125]

Group 1 - HBT Financial reported quarterly earnings of $0.65 per share, exceeding the Zacks Consensus Estimate of $0.62 per share, and showing an increase from $0.61 per share a year ago, resulting in an earnings surprise of +4.84% [1] - The company achieved revenues of $59.84 million for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 0.06% and increasing from $56.44 million year-over-year [2] - HBT Financial has outperformed consensus EPS estimates in all four of the last quarters and has topped consensus revenue estimates three times during the same period [2] Group 2 - The stock has gained approximately 7.8% since the beginning of the year, while the S&P 500 has increased by 13.3% [3] - The current consensus EPS estimate for the upcoming quarter is $0.62 on revenues of $60.45 million, and for the current fiscal year, it is $2.47 on revenues of $237.15 million [7] - The Zacks Industry Rank for Banks - Northeast is in the top 29% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [8] Group 3 - The estimate revisions trend for HBT Financial was unfavorable prior to the earnings release, resulting in a Zacks Rank 4 (Sell) for the stock, suggesting expected underperformance in the near future [6] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]

Core Insights - HBT Financial, Inc. reported a net income of $19.8 million, or $0.63 diluted earnings per share, for Q3 2025, showing an increase from $19.2 million in Q2 2025 and $18.2 million in Q3 2024 [2][3]. Financial Performance - Adjusted net income reached $20.5 million, or $0.65 per diluted share, marking the highest quarterly adjusted diluted earnings per share since going public, driven by a 2.2% increase in adjusted pre-provision net revenue to $28.3 million compared to Q2 2025 [3][6]. - The net interest income for Q3 2025 was $50.0 million, a 0.7% increase from $49.7 million in Q2 2025, and a 4.7% increase from $47.7 million in Q3 2024 [7][8]. - Noninterest income increased by 7.8% to $9.8 million from $9.1 million in Q2 2025, and by 13.1% from $8.7 million in Q3 2024, primarily due to higher wealth management fees and changes in mortgage servicing rights fair value adjustments [13][14]. Asset Quality and Loan Growth - The company maintained strong asset quality with nonperforming assets at 0.17% of total assets, and net charge-offs at 0.02% of average loans on an annualized basis [21][23]. - Total loans outstanding increased to $3.40 billion, up from $3.35 billion in Q2 2025, reflecting a 6.2% annualized growth rate due to higher loan pipelines and fewer payoffs [18][4]. Capital and Regulatory Compliance - As of September 30, 2025, the company exceeded all regulatory capital requirements under Basel III, with total capital to risk-weighted assets at 16.77% and Tier 1 capital at 15.67% [25]. - Tangible book value per share increased by $0.62 to $16.64, representing a 3.9% increase for the quarter and a 14.4% increase year-over-year [3][25]. Merger Announcement - HBT Financial announced a definitive agreement to merge with CNB Bank Shares, which has a strong community banking focus and a similar regional presence [5].

Core Viewpoint - HBT Financial, Inc. and CNB Bank Shares, Inc. have announced a definitive agreement for CNB to merge with HBT in a transaction valued at approximately $170.2 million, enhancing the combined company's market presence and operational scale [1][3][4] Company Overview - HBT Financial, Inc. is the holding company for Heartland Bank and Trust Company, with total assets of $5.0 billion, total loans of $3.4 billion, and total deposits of $4.3 billion as of September 30, 2025 [10] - CNB Bank Shares, Inc. is the holding company for CNB Bank & Trust, N.A., with total assets of $1.8 billion, total loans of $1.3 billion, and total deposits of $1.5 billion as of September 30, 2025 [11] Transaction Details - The merger will be a combined common stock/cash transaction, with CNB shareholders receiving either 1.0434 shares of HBT's common stock for each share of CNB stock, $27.73 per share in cash, or a combination of both [6][7] - The implied per share purchase price is $25.92 based on HBT's 15-day volume weighted average stock price of $24.44 as of October 17, 2025 [7] Strategic Rationale - The merger is expected to increase market density in central Illinois, the Chicago MSA, and the St. Louis MSA, enhancing product opportunities for CNB customers [3] - Both companies share a relationship-based approach to banking and a commitment to community service, making the cultural integration smoother [3][5] Approval and Timeline - The transaction has been unanimously approved by the boards of directors of both companies, with shareholders holding approximately 28% of CNBN's outstanding shares agreeing to vote in favor [4] - The merger is anticipated to close in the first quarter of 2026, pending shareholder and regulatory approvals [4]