HBT Financial, Inc. Announces Issuance of $85 Million in Subordinated Notes

Core Viewpoint - HBT Financial, Inc. has announced the issuance of $85 million in Fixed-to-Floating Rate Subordinated Notes due 2036, aimed at raising capital for general corporate purposes, potentially including share repurchases [1][2]. Group 1: Financial Details - The Notes will initially bear an interest rate of 5.75% for the first five years, after which the rate will reset quarterly to the three-month SOFR rate plus 233 basis points [2]. - The Company has the option to redeem the Notes in whole or in part starting from March 15, 2031, or prior to that date under specific limited circumstances [2]. - The Notes are designed to qualify as Tier 2 capital for regulatory purposes [2]. Group 2: Company Background - 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 [4]. - The Company offers a wide range of financial products and services to consumers, businesses, and municipal entities across Illinois, eastern Iowa, and suburban St. Louis, operating 83 full-service branches [4]. - As of December 31, 2025, HBT Financial reported total assets of $5.1 billion, total loans of $3.5 billion, and total deposits of $4.4 billion [4]. Group 3: Transaction Details - Piper Sandler & Co. acted as the sole placement agent for the Notes issuance [3]. - Vedder Price P.C. provided legal counsel to the placement agent, while Barack Ferrazzano Kirschbaum & Nagelberg LLP served as legal counsel to the Company [3].