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HBT Financial, Inc. operates as the bank holding company for Heartland Bank and Trust Company that provides financial products and services to consumers, businesses, and municipal entities in Illinois and Eastern Iowa. The company offers deposit account services, such as noninterest-bearing demand deposits, interest-bearing transaction accounts, money market accounts, savings accounts, certificates of deposit, HSA, and IRA accounts. It also provides lending products, including non-owner occupied regulatory commercial real estate (CRE), construction and land development and multi-family; commercial and industrial and owner-occupied CRE; agricultural and farmland; one-to-four family residential loans; municipal, consumer, and other loans; residential mortgage origination and servicing; and traditional trust and investment services. In addition, the company offers digital banking services comprising online banking, mobile banking, digital payments, and personal financial management tools; small business and commercial checking accounts, and treasury management services; financial planning to consumers, trusts, and estates; and trustee and custodial services. Further, it provides investment management services; corporate retirement plan consulting and administration; retail brokerage services; farm management services, broker farmland sale, and crop insurance. The company was formerly known as Heartland Bancorp, Inc. and changed its name to HBT Financial, Inc. in September 2019. HBT Financial, Inc. was founded in 1920 and is headquartered in Bloomington, Illinois.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $236M | - | $77M | $75M | 12.5% | 6.0% | 7.3% |
| 2024 | $222M | - | $72M | $84M | 13.2% | -1.5% | 9.0% |
| 2023 | $226M | - | $66M | $63M | 13.5% | 25.7% | 16.6% |
| 2022 | $180M | - | $56M | $72M | 15.1% | - | - |
| 2021 | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 179.54 | 225.72 | 222.36 | 235.74 |
| Operating Revenue | - | 179.54 | 225.72 | 222.36 | 235.74 |
| Selling General And Administration | - | 65.06 | 84.81 | 83.02 | 86.30 |
| Interest Income | - | 153.05 | 229 | 251.70 | 255.78 |
| Interest Expense | - | 7.18 | 37.93 | 62.85 | 56.89 |
| Net Interest Income | - | 145.87 | 191.07 | 188.85 | 198.90 |
| Pretax Income | - | 76.19 | 88.58 | 97.38 | 104.51 |
| Tax Provision | - | 19.73 | 22.74 | 25.60 | 27.50 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -0.05 | 0.17 | -0.16 | -0.12 |
| Net Income Continuous Operations | - | 56.46 | 65.84 | 71.78 | 77.01 |
| Net Income From Continuing And Discontinued Operation | - | 56.46 | 65.84 | 71.78 | 77.01 |
| Net Income From Continuing Operation Net Minority Interest | - | 56.46 | 65.84 | 71.78 | 77.01 |
| Net Income | - | 56.46 | 65.84 | 71.78 | 77.01 |
| Net Income Common Stockholders | - | 56.46 | 65.84 | 71.78 | 77.01 |
| Net Income Including Noncontrolling Interests | - | 56.46 | 65.84 | 71.78 | 77.01 |
| Normalized Income | - | 56.59 | 65.35 | 72.23 | 77.36 |
| Diluted NI Availto Com Stockholders | - | 56.46 | 65.84 | 71.78 | 77.01 |
| Basic Average Shares | - | 28.85 | 31.63 | 31.59 | 31.50 |
| Diluted Average Shares | - | 28.85 | 31.81 | 31.71 | 31.61 |
| Reconciled Depreciation | - | 3.92 | 5.78 | 5.78 | 5.93 |
| Total Unusual Items | - | -0.18 | 0.67 | -0.61 | -0.47 |
| Total Unusual Items Excluding Goodwill | - | -0.18 | 0.67 | -0.61 | -0.47 |
| Special Income Charges | - | - | 0 | 0 | -0.39 |
| Gain On Sale Of Security | - | -0.41 | -1.66 | -3.76 | -0.19 |
| Depreciation Amortization Depletion Income Statement | - | 0.87 | 2.67 | 2.84 | 2.73 |
| Depreciation And Amortization In Income Statement | - | 0.87 | 2.67 | 2.84 | 2.73 |
| General And Administrative Expense | - | 61.26 | 79.77 | 78.69 | 82.11 |
| Other Gand A | 7.33 | - | - | - | - |
| Salaries And Wages | - | 60.09 | 77.49 | 76.44 | 79.88 |
| Insurance And Claims | - | 1.16 | 2.28 | 2.25 | 2.23 |
| Selling And Marketing Expense | - | 3.80 | 5.04 | 4.32 | 4.18 |
| Amortization | - | 0.87 | 2.67 | 2.84 | 2.73 |
| Amortization Of Intangibles Income Statement | - | 0.87 | 2.67 | 2.84 | 2.73 |
| Occupancy And Equipment | - | 10.15 | 12.71 | 12.30 | 12.99 |
| Other Non Interest Expense | - | 27.98 | 29.37 | 23.80 | 25.66 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| HBT Financial, Inc.this co. | HBT | $1.0B | 13.54↑ premium | 1.69 | 12.5% | - |
| Old Second Bancorp, Inc. | OSBC | $1.1B | 13.72 | 1.23 | 9.0% | - |
| Coastal Financial Corporation | CCB | $1.1B | 22.81 | 2.18 | 9.6% | - |
| Porch Group, Inc. | PRCH | $1.1B | -314.12 | -42.88 | 13.7% | 15.96 |
| Northeast Bank | NBN | $1.0B | 12.39 |
| - |
| - |
| - |
| - |
| 2.09 |
| 16.9% |
| - |
| OceanFirst Financial Corp. | OCFC | $1.0B | 14.45 | 0.62 | 4.3% | - |
| Safety Insurance Group, Inc. | SAFT | $1.0B | 10.16 | 1.12 | 11.1% | - |
| Virtus Investment Partners, Inc. | VRTS | $995M | 7.19 | 1.06 | 14.8% | 8.13 |
| Universal Insurance Holdings, Inc. | UVE | $990M | 5.41 | 1.80 | 33.2% | - |
| Peer Median | - | 11.28 | 1.18 | 12.4% | 12.04 | |