HBT

HBT Financial Reports $18.2M Net Income for Q3 2024

HBT Financial, Inc. has reported its financial results for the third quarter of 2024. The company's net income for the quarter was $18.2 million, or $0.57 per diluted share, compared to $18.1 million, or $0.57 per diluted share, for the second quarter of 2024, and $19.7 million, or $0.62 per diluted share, for the third quarter of 2023.

Adjusted net income for the third quarter of 2024 was $19.2 million, or $0.61 per diluted share, compared to $18.1 million, or $0.57 per diluted share, for the second quarter of 2024, and $20.3 million, or $0.63 per diluted share, for the third quarter of 2023.

Net interest income for the third quarter of 2024 was $47.7 million, up 1.5% from $47.0 million for the second quarter of 2024, but down 1.1% from $48.3 million for the third quarter of 2023.

The net interest margin for the third quarter of 2024 was 3.98%, compared to 3.95% for the second quarter of 2024, and 4.07% for the third quarter of 2023. The net interest margin (tax-equivalent basis) was 4.03% for the third quarter of 2024, compared to 4.00% for the second quarter of 2024, and 4.13% for the third quarter of 2023.

Noninterest income for the third quarter of 2024 was $8.7 million, a decrease from $9.6 million for the second quarter of 2024, and $9.5 million for the third quarter of 2023.

Noninterest expense for the third quarter of 2024 was $31.3 million, a 2.7% increase from $30.5 million for the second quarter of 2024, and a 2.1% increase from $30.7 million for the third quarter of 2023.

Total loans outstanding were $3.37 billion at September 30, 2024, compared with $3.39 billion at June 30, 2024, and $3.34 billion at September 30, 2023.

Total deposits were $4.28 billion at September 30, 2024, compared with $4.32 billion at June 30, 2024, and $4.20 billion at September 30, 2023.

Nonperforming loans totaled $8.2 million, or 0.24% of total loans, at September 30, 2024, compared with $8.4 million, or 0.25% of total loans, at June 30, 2024, and $6.7 million, or 0.20% of total loans, at September 30, 2023.

As of September 30, 2024, the company exceeded all regulatory capital requirements under Basel III, with a total capital to risk-weighted assets ratio of 16.54%.

HBT Financial, Inc., headquartered in Bloomington, Illinois, is the holding company for Heartland Bank and Trust Company, and has banking roots dating back to 1920. As of September 30, 2024, the company had total assets of $5.0 billion, total loans of $3.4 billion, and total deposits of $4.3 billion. Today the company's shares have moved -3.1% to a price of $22.08. If you want to know more, read the company's complete 8-K report here.

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