HBT Financial(US:HBT) Globenewswireยท2025-04-21 11:05Core 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]