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HBT Financial, Inc. Announces Fourth Quarter 2021 Financial Results

Quarterly Cash Dividend Increased to $0.16 per Share

Fourth Quarter Highlights

  • Net income of $13.6 million, or $0.47 per diluted share; return on average assets (ROAA) of 1.26%; return on average stockholders' equity (ROAE) of 13.15%; and return on average tangible common equity (ROATCE)(1) of 14.24%

  • Adjusted net income(1) of $14.2 million; or $0.49 per diluted share; adjusted ROAA(1) of 1.32%; adjusted ROAE(1) of 13.70%; and adjusted ROATCE(1) of 14.83%

(1) See "Reconciliation of Non-GAAP Financial Measures" below for reconciliation of non-GAAP financial measures to their most closely comparable GAAP financial measures.

BLOOMINGTON, Ill., Jan. 27, 2022 (GLOBE NEWSWIRE) -- HBT Financial, Inc. (NASDAQ: HBT) (the “Company” or “HBT Financial” or “HBT”), the holding company for Heartland Bank and Trust Company, today reported net income of $13.6 million, or $0.47 diluted earnings per share, for the fourth quarter of 2021. This compares to net income of $13.7 million, or $0.50 diluted earnings per share, for the third quarter of 2021, and net income of $12.6 million, or $0.46 diluted earnings per share, for the fourth quarter of 2020.

Fred L. Drake, Chairman and Chief Executive Officer of HBT Financial, said, “Our 2021 performance is the result of strong execution on the strategies that have made HBT Financial a consistently high performing company. We had an exceptionally strong fourth quarter that started with the completion of the NXT Bancorporation acquisition and the expansion of our franchise into Iowa. The larger commercial banking team and presence in new markets provided from this acquisition has had the positive impact on loan growth that we anticipated. Excluding PPP loans, we had 9% organic growth in total loans during the fourth quarter with well-balanced contributions coming from all areas of our lending. The higher level of loan growth enabled us to begin redeploying more of our excess liquidity into higher yielding earning assets, which will positively impact our net interest income and net interest margin going forward. We anticipate delivering another strong performance in 2022 resulting from our loan production capabilities, the accretive benefits of the NXT acquisition, and a balance sheet that is well positioned to benefit from rising interest rates. With the strength of our balance sheet and consistently high level of profitability, we expect to continue returning capital to shareholders through our stock repurchase program and our quarterly cash dividend, which has been increased to $0.16 per share to start 2022.”