HBT Financial, Inc. has announced the approval of a new stock repurchase program, authorizing the repurchase of up to $15 million of its common stock. This new program takes effect upon the expiration of the current stock repurchase program on January 1, 2025. The company will not execute additional repurchases under the current program after this date.
Stock repurchases under the new program may be made through various means, such as on the open market, in privately negotiated transactions, or in any other manner compliant with applicable securities laws. The program will be in effect until January 1, 2026, with the timing and number of shares repurchased dependent on factors including price, trading volume, corporate and regulatory requirements, and market conditions. The company is not obligated to purchase any shares under the program, and it may be suspended or discontinued at any time without notice.
As of September 30, 2024, HBT Financial had total assets of $5.0 billion, total loans of $3.4 billion, and total deposits of $4.3 billion.
As a result of these announcements, the company's shares have moved 2.1% on the market, and are now trading at a price of $23.55. Check out the company's full 8-K submission here.
