Company Overview - HBT Financial, Inc. is headquartered in Bloomington, Illinois, and serves as the holding company for Heartland Bank and Trust Company, with banking operations dating back to 1920 [2] - The company offers a wide range of financial products and services to consumers, businesses, and municipal entities across Illinois and eastern Iowa, operating 66 full-service branches [2] - As of March 31, 2025, HBT Financial reported total assets of $5.1 billion, total loans of $3.5 billion, and total deposits of $4.4 billion [2] Upcoming Financial Results - HBT Financial will announce its second quarter 2025 financial results before the market opens on July 21, 2025 [1] - The press release and investor presentation will be available on the company's investor relations website [1]

[PART I. FINANCIAL INFORMATION](index=3&type=section&id=PART%20I.%20FINANCIAL%20INFORMATION) [Consolidated Financial Statements](index=3&type=section&id=Item%201.%20Consolidated%20Financial%20Statements) HBT Financial, Inc.'s consolidated financial statements report total assets of **$5.09 billion** and Q1 2025 net income of **$19.1 million**, up from **$15.3 million** in Q1 2024, driven by increased net interest income Consolidated Balance Sheet Highlights | Metric | March 31, 2025 (in thousands) | December 31, 2024 (in thousands) | | :--- | :--- | :--- | | Total Assets | $5,092,192 | $5,032,902 | | Loans, net | $3,419,667 | $3,424,102 | | Total Deposits | $4,384,590 | $4,318,254 | | Total Liabilities | $4,527,135 | $4,488,297 | | Total Stockholders' Equity | $565,057 | $544,605 | Consolidated Income Statement Highlights (Three Months Ended March 31) | Metric | 2025 (in thousands) | 2024 (in thousands) | | :--- | :--- | :--- | | Net Interest Income | $48,708 | $46,688 | | Provision for Credit Losses | $576 | $527 | | Noninterest Income | $9,306 | $5,626 | | Noninterest Expense | $31,935 | $31,268 | | Net Income | $19,075 | $15,258 | | Diluted EPS | $0.60 | $0.48 | [Note 2 – Securities](index=15&type=section&id=Note%202%20%E2%80%93%20Securities) As of March 31, 2025, the company held **$706.1 million** in AFS and **$490.4 million** in HTM debt securities, with AFS having **$49.7 million** in gross unrealized losses, which management expects to recover Debt Securities Portfolio (March 31, 2025) | Category | Amortized Cost (in thousands) | Fair Value (in thousands) | | :--- | :--- | :--- | | **Available-for-Sale** | $754,493 | $706,135 | | U.S. Treasury & Agency | $163,299 | $154,643 | | Municipal | $149,697 | $132,338 | | Mortgage-backed & Corporate | $441,497 | $419,154 | | **Held-to-Maturity** | $490,398 | $445,762 | - As of March 31, 2025, **$429.0 million** in debt securities were pledged to secure public deposits, repurchase agreements, and other borrowings[37](index=37&type=chunk) - The company realized **$3.4 million** in gross losses from debt security sales for Q1 2024, with no sales in Q1 2025[47](index=47&type=chunk) [Note 3 – Loans and Related Allowance for Credit Losses](index=20&type=section&id=Note%203%20%E2%80%93%20Loans%20and%20Related%20Allowance%20for%20Credit%20Losses) Total loans were **$3.46 billion** as of March 31, 2025, with an ACL of **$42.1 million** (1.22% of loans), while nonaccrual loans decreased to **$5.1 million**, and the portfolio remains concentrated in commercial real estate, residential, and C&I loans Loan Portfolio Composition | Loan Category | March 31, 2025 (in millions) | December 31, 2024 (in millions) | | :--- | :--- | :--- | | Commercial real estate - non-owner occupied | $891.0 | $899.6 | | One-to-four family residential | $455.4 | $464.0 | | Commercial and industrial | $441.3 | $428.4 | | Multi-family | $424.1 | $431.5 | | **Total Loans** | **$3,461.8** | **$3,466.1** | Allowance for Credit Losses Activity (Q1 2025) | Metric | Amount (in thousands) | | :--- | :--- | | Beginning Balance (Dec 31, 2024) | $42,044 | | Provision for credit losses | $496 | | Charge-offs | ($665) | | Recoveries | $236 | | **Ending Balance (Mar 31, 2025)** | **$42,111** | - Nonaccrual loans decreased to **$5.1 million** at March 31, 2025, from **$7.7 million** at year-end 2024, while loans past due 30-89 days increased to **$10.4 million** from **$3.9 million**[69](index=69&type=chunk) [Note 6 – Deposits](index=33&type=section&id=Note%206%20%E2%80%93%20Deposits) Total deposits increased to **$4.38 billion** at March 31, 2025, from **$4.32 billion** at year-end 2024, driven by growth in noninterest-bearing and interest-bearing demand deposits Deposit Composition | Deposit Type | March 31, 2025 (in millions) | December 31, 2024 (in millions) | | :--- | :--- | :--- | | Noninterest-bearing | $1,065.9 | $1,046.4 | | Interest-bearing demand | $1,143.7 | $1,099.1 | | Money market | $812.1 | $820.8 | | Savings | $575.6 | $566.5 | | Time | $787.3 | $785.4 | | **Total Deposits** | **$4,384.6** | **$4,318.3** | [Note 11 – Regulatory Capital](index=42&type=section&id=Note%2011%20%E2%80%93%20Regulatory%20Capital) As of March 31, 2025, HBT Financial, Inc. and its subsidiary were 'well capitalized', with a Common Equity Tier 1 capital ratio of **13.48%** and a Total Capital ratio of **16.85%**, exceeding regulatory minimums Regulatory Capital Ratios (Consolidated) - March 31, 2025 | Ratio | Actual (%) | Required for Adequacy (%) | | :--- | :--- | :--- | | Common Equity Tier 1 Capital | 13.48 | 4.50 | | Tier 1 Capital | 14.77 | 6.00 | | Total Capital | 16.85 | 8.00 | | Tier 1 Leverage | 11.64 | 4.00 | [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=53&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management reported Q1 2025 net income of **$19.1 million**, a **25.0%** increase, driven by higher net interest income and no prior-year security losses, with net interest margin expanding to **4.12%** and nonperforming assets decreasing by **30.6%** to **$5.6 million** - Net income for Q1 2025 increased by **$3.8 million (25.0%)** year-over-year, primarily due to the absence of **$3.4 million** in prior-year security sale losses and a **$2.0 million** increase in net interest income[187](index=187&type=chunk)[189](index=189&type=chunk) Key Performance Ratios (Q1 2025 vs Q1 2024) | Ratio | Q1 2025 (%) | Q1 2024 (%) | | :--- | :--- | :--- | | Net Interest Margin | 4.12 | 3.94 | | Return on Average Assets | 1.54 | 1.23 | | Return on Average Stockholders' Equity | 13.95 | 12.42 | | Efficiency Ratio | 53.85 | 58.41 | - Total nonperforming assets decreased by **30.6%** to **$5.6 million** at March 31, 2025, from **$8.0 million** at year-end 2024, mainly due to a **$1.6 million** nonaccrual commercial real estate loan payoff[228](index=228&type=chunk) [Quantitative and Qualitative Disclosures about Market Risk](index=84&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) The company's primary market risk is interest rate risk, with an asset-sensitive balance sheet where a **100 bps** rate increase is projected to boost NII by **2.8%** and EVE by **9.6%**, while a decrease would reduce them Interest Rate Sensitivity Analysis (March 31, 2025) | Change in Interest Rates (bps) | Estimated % Change in EVE | Estimated % Change in NII (Year 1) | | :--- | :--- | :--- | | +200 | +17.9% | +4.7% | | +100 | +9.6% | +2.8% | | -100 | -11.5% | -4.6% | | -200 | -23.6% | -6.4% | - The cumulative deposit beta was **23.6%** during the rising rate cycle (Q4 2021 - Q2 2024) and **15.1%** since the falling rate cycle began in Q3 2024[294](index=294&type=chunk) [Controls and Procedures](index=86&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of March 31, 2025, with no material changes to internal control over financial reporting during Q1 2025 - The CEO and CFO concluded that disclosure controls and procedures were effective as of March 31, 2025[299](index=299&type=chunk) - No material changes to internal control over financial reporting occurred during the quarter[300](index=300&type=chunk) [PART II. OTHER INFORMATION](index=87&type=section&id=PART%20II.%20OTHER%20INFORMATION) [Legal Proceedings](index=87&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in routine legal actions incidental to its business, which management does not expect to materially affect its financial condition [Risk Factors](index=87&type=section&id=Item%201A.%20Risk%20Factors) No material changes to the risk factors previously disclosed in the Annual Report on Form 10-K for the year ended December 31, 2024, were reported - No material changes to risk factors were reported since the last Annual Report on Form 10-K[302](index=302&type=chunk) [Issuer Purchases of Equity Securities](index=87&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%2C%20Use%20of%20Proceeds%2C%20and%20Issuer%20Purchases%20of%20Equity%20Securities) The company did not repurchase any common stock in Q1 2025, with a **$15.0 million** stock repurchase authorization remaining available until January 1, 2026 - No shares were repurchased in Q1 2025; a **$15.0 million** stock repurchase authorization remains available until January 1, 2026[304](index=304&type=chunk)[305](index=305&type=chunk)

Group 1 - HBT Financial's shares have increased by approximately 21% over the past year, indicating strong performance [1] - The company possesses a robust capital position and an excellent deposit base, which has allowed it to sustain higher margins [1] Group 2 - The article emphasizes the importance of macro views and stock-specific turnaround stories in achieving outsized returns with a favorable risk/reward profile [1]

Core Insights - HBT Financial reported a revenue of $58.01 million for the quarter ended March 2025, reflecting a year-over-year increase of 10.9% and surpassing the Zacks Consensus Estimate by 2.32% [1] - The earnings per share (EPS) for the quarter was $0.61, up from $0.57 in the same quarter last year, resulting in an EPS surprise of 7.02% compared to the consensus estimate [1] Financial Performance Metrics - Net charge-offs to average loans were reported at 0.1%, matching the average estimate from analysts [4] - The efficiency ratio was 53.9%, better than the estimated 55.2% [4] - The net interest margin (FTE) stood at 4.2%, exceeding the average estimate of 4% [4] - Average balances of interest-earning assets were $4.80 billion, slightly below the estimated $4.81 billion [4] - Service charges on deposit accounts were $1.94 million, slightly below the estimated $1.95 million [4] - Card income was reported at $2.55 million, lower than the average estimate of $2.78 million [4] - Other noninterest income was $0.80 million, below the estimated $1.02 million [4] - Total noninterest income reached $9.31 million, slightly above the average estimate of $9.29 million [4] - Mortgage servicing income was $0.99 million, below the estimated $1.03 million [4] - Wealth management fees were reported at $2.84 million, slightly below the average estimate of $2.85 million [4] - Net interest income (FTE) was $49.25 million, exceeding the average estimate of $47.72 million [4] Stock Performance - HBT Financial's shares have returned -3.3% over the past month, compared to a -5.6% change in the Zacks S&P 500 composite [3] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance relative to the broader market in the near term [3]

HBT Financial (HBT) came out with quarterly earnings of $0.61 per share, beating the Zacks Consensus Estimate of $0.57 per share. This compares to earnings of $0.57 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 7.02%. A quarter ago, it was expected that this bank holding company would post earnings of $0.58 per share when it actually produced earnings of $0.62, delivering a surprise of 6.90%.Over the last four quarters, the ...

Core Points - HBT Financial, Inc. reported a net income of $19.1 million, or $0.60 diluted earnings per share, for Q1 2025, a decrease from $20.3 million, or $0.64 per share in Q4 2024, but an increase from $15.3 million, or $0.48 per share in Q1 2024 [2][4][9] - The company expressed confidence in its performance for 2025 despite economic uncertainties, citing strong profitability and a solid balance sheet [3][4] - Adjusted net income for Q1 2025 was $19.3 million, or $0.61 per diluted share, slightly down from $19.5 million, or $0.62 per share in Q4 2024, and up from $18.1 million, or $0.57 per share in Q1 2024 [6][9] Financial Performance - Net interest income for Q1 2025 was $48.7 million, a 2.8% increase from $47.4 million in Q4 2024, and a 4.3% increase from $46.7 million in Q1 2024 [7][8] - The net interest margin for Q1 2025 was 4.12%, up from 3.96% in Q4 2024 and 3.94% in Q1 2024 [9][11] - Noninterest income decreased by 20.0% to $9.3 million in Q1 2025 from $11.6 million in Q4 2024, but increased by 65.4% from $5.6 million in Q1 2024 [13][14] Asset Quality - Nonperforming assets totaled $5.6 million, or 0.11% of total assets, down from $8.0 million, or 0.16% in Q4 2024, and $9.9 million, or 0.20% in Q1 2024 [21] - The company recorded net charge-offs of $0.4 million, or 0.05% of average loans on an annualized basis, compared to $0.7 million, or 0.08% in Q4 2024 [23] - The allowance for credit losses was 1.22% of total loans as of March 31, 2025, compared to 1.21% at the end of Q4 2024 [24] Capital Position - As of March 31, 2025, the company exceeded all regulatory capital requirements under Basel III, with a total capital to risk-weighted assets ratio of 16.85% [25] - Tangible book value per share increased by $0.63 to $15.43 as of March 31, 2025, reflecting a 4.3% increase for the quarter and a 17.0% increase year-over-year [4][25] - The company did not repurchase shares during Q1 2025, maintaining $15.0 million available under its stock repurchase program [26] Loan and Deposit Trends - Total loans outstanding were $3.46 billion at March 31, 2025, nearly unchanged from $3.47 billion at December 31, 2024, but up from $3.35 billion at March 31, 2024 [18] - Total deposits increased to $4.38 billion at March 31, 2025, from $4.32 billion at December 31, 2024, and $4.36 billion at March 31, 2024 [19]

Financial Performance - Net income for Q1 2025 was $19.1 million, or $0.60 diluted earnings per share, compared to $20.3 million, or $0.64 per diluted share in Q4 2024, and $15.3 million, or $0.48 per diluted share in Q1 2024[3][6] - Adjusted net income for Q1 2025 was $19.3 million, or $0.61 adjusted diluted earnings per share, compared to $19.5 million, or $0.62 adjusted diluted earnings per share in Q4 2024, and $18.1 million, or $0.57 adjusted diluted earnings per share in Q1 2024[7] - Net income for the quarter was $19,075,000, up from $15,258,000 in the prior year, reflecting a year-over-year increase of 25.5%[31] - Earnings per share (diluted) for Q1 2025 was $0.60, compared to $0.48 for the same period in 2024, marking a 25% increase[31] - Adjusted earnings per share (EPS) for Q1 2025 was $0.61, up from $0.57 in Q1 2024, reflecting a 7% increase[51] Income and Revenue - Net interest income increased by 2.8% to $48.7 million in Q1 2025 from $47.4 million in Q4 2024, and by 4.3% from $46.7 million in Q1 2024[8][9] - For the three months ended March 31, 2025, net interest income was $48,708,000, an increase from $46,688,000 for the same period in 2024, representing a growth of 4.4%[31] - Total interest and dividend income for Q1 2025 was $63,138,000, an increase of 2.0% from $62,798,000 in Q4 2024 and up 1.9% from $61,961,000 in Q1 2024[34] - Net interest income for Q1 2025 reached $48,708,000, an increase from $46,688,000 in Q1 2024, representing a growth of 4.3%[52] Noninterest Income - Noninterest income decreased by 20.0% to $9.3 million in Q1 2025 from $11.6 million in Q4 2024, but increased by 65.4% from $5.6 million in Q1 2024[11][12] - Noninterest income for the quarter was $9,306,000, a decrease from $11,630,000 in the previous quarter, representing a decline of 20%[31] - Total noninterest income decreased to $9,306,000 in Q1 2025 from $11,630,000 in Q4 2024, a decline of 20.0%[34] Assets and Loans - Total loans outstanding were $3.46 billion at March 31, 2025, nearly unchanged from $3.47 billion at December 31, 2024, and up from $3.35 billion at March 31, 2024[16] - Total assets as of March 31, 2025, were $5,092,192,000, an increase from $5,032,902,000 at the end of Q4 2024, reflecting a growth of 1.2%[36] - Commercial and industrial loans increased to $441,261,000 in Q1 2025 from $428,389,000 in Q4 2024, a growth of 3.0%[38] Deposits - Total deposits increased to $4.38 billion at March 31, 2025, from $4.32 billion at December 31, 2024, and $4.36 billion at March 31, 2024[17] - Total deposits increased to $4,384,590,000 in Q1 2025 from $4,318,254,000 in Q4 2024, marking a growth of 1.5%[38] - Noninterest-bearing deposits rose to $1,065,874,000 in Q1 2025, compared to $1,046,405,000 in Q4 2024, an increase of 1.3%[38] Asset Quality - Nonperforming assets decreased to $5.6 million, or 0.11% of total assets, at March 31, 2025, down from $8.0 million, or 0.16% at December 31, 2024[18] - Nonperforming loans to loans ratio improved to 0.15%, down from 0.29% in the same quarter last year, indicating better asset quality[31] - Nonaccrual loans to loans ratio improved to 0.15% as of March 31, 2025, compared to 0.22% at December 31, 2024[45] Credit Losses - The provision for credit losses was $576,000, compared to $527,000 in the same period last year, indicating a 9.3% increase[31] - The allowance for credit losses was 1.22% of total loans at March 31, 2025, compared to 1.21% at December 31, 2024[21] - The allowance for credit losses increased to $42,111 thousand as of March 31, 2025, compared to $42,044 thousand at December 31, 2024, indicating a slight increase of 0.16%[45] Capital and Efficiency - The Company exceeded all regulatory capital requirements under Basel III, with total capital to risk-weighted assets at 16.85% as of March 31, 2025[22] - Total capital to risk-weighted assets was 16.85%, up from 15.79% a year ago, reflecting a stronger capital position[31] - The efficiency ratio was 53.85%, an increase from 58.41% in the same quarter last year, indicating improved operational efficiency[31] - The return on average assets for the three months ended March 31, 2025, was 1.54%, slightly down from 1.61% in the previous quarter[48] - Tangible common equity increased to $488,089,000 in Q1 2025 from $416,889,000 in Q1 2024, a growth of 17.1%[58] - Return on average tangible common equity for Q1 2025 was 16.20%, up from 14.83% in Q1 2024, indicating stronger profitability[59] Stock Repurchase - The Board of Directors authorized a stock repurchase program of up to $15.0 million, with $15.0 million remaining as of March 31, 2025[22]

Core Insights - HBT Financial (HBT) is expected to report quarterly earnings of $0.57 per share, indicating no change from the previous year [1] - Analysts forecast revenues of $56.7 million, representing an increase of 8.4% year over year [1] - The consensus EPS estimate has remained unchanged over the past 30 days, reflecting analysts' reassessment of projections [1] Earnings Projections - Changes in earnings projections are crucial for predicting investor reactions to the stock [2] - Empirical studies show a strong correlation between earnings estimate trends and short-term stock price movements [2] Key Financial Metrics - Analysts expect 'Net interest margin (FTE)' to be 4.0%, unchanged from the year-ago figure [3] - The consensus for 'Average Balances - Interest-earning assets' is $4.81 billion, up from $4.77 billion year over year [4] - The 'Efficiency Ratio' is expected to be 55.2%, improved from 58.4% in the previous year [4] - 'Net interest income (FTE)' is projected to reach $47.72 million, compared to $47.26 million in the same quarter last year [4] - Estimated 'Total noninterest income' is $9.29 million, up from $5.63 million in the same quarter of the previous year [5] Stock Performance - HBT Financial shares have decreased by 5.9% in the past month, compared to a 3.9% decline in the Zacks S&P 500 composite [6] - HBT has a Zacks Rank of 4 (Sell), indicating expected underperformance relative to the overall market [6]

Company Overview - HBT Financial, Inc. is headquartered in Bloomington, Illinois, and serves as the holding company for Heartland Bank and Trust Company, with banking operations dating back to 1920 [2] - The company offers a wide range of financial products and services to consumers, businesses, and municipal entities across Illinois and eastern Iowa, operating 66 full-service branches [2] - As of December 31, 2024, HBT Financial reported total assets of $5.0 billion, total loans of $3.5 billion, and total deposits of $4.3 billion [2] Upcoming Financial Results - HBT Financial will release its first quarter 2025 financial results before the market opens on April 21, 2025 [1] - An investor presentation and press release regarding the financial results will be available on the company's investor relations website [1]

Company Overview - HBT Financial, Inc. is headquartered in Bloomington, Illinois, and serves as the holding company for Heartland Bank and Trust Company, with banking operations dating back to 1920 [2] - The company offers a wide range of financial products and services to consumers, businesses, and municipal entities across Illinois and eastern Iowa, operating 66 full-service branches [2] - As of December 31, 2024, HBT Financial reported total assets of $5.0 billion, total loans of $3.5 billion, and total deposits of $4.3 billion [2] Upcoming Financial Results - HBT Financial will release its first quarter 2025 financial results before the market opens on April 21, 2025 [1] - An investor presentation and press release regarding the financial results will be available on the company's investor relations website [1]