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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% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 179.54 | 225.72 | 222.37 | 235.74 |
| Pretax Income | 76.19 | 88.58 | 97.38 | 104.51 |
| Tax Provision | 19.73 | 22.74 | 25.60 | 27.50 |
| Net Income | 56.46 | 65.84 | 71.78 | 77.01 |
| Net Income Common Stockholders | 56.46 | 65.84 | 71.78 | 77.01 |
| Interest Expense | 7.18 | 37.93 | 62.85 | 56.89 |
| Interest Income | 153.05 | 229 | 251.70 | 255.78 |
| Selling General And Administration | 65.06 | 84.81 | 83.02 | 86.30 |
| Normalized Income | 56.59 | 65.35 | 72.23 | 77.36 |
| Basic EPS | 2.09 | 2.08 | 2.27 | 0 |
| Diluted EPS | 2.09 | 2.07 | 2.26 | 0 |
| Tax Effect Of Unusual Items | -0.05 | 0.17 | -0.16 | -0.12 |
| Tax Rate For Calcs | 0.26 | 0.26 | 0.26 | 0.26 |
| Total Unusual Items | -0.18 | 0.67 | -0.61 | -0.47 |
| Total Unusual Items Excluding Goodwill | -0.18 | 0.67 | -0.61 | -0.47 |
| Net Income From Continuing Operation Net Minority Interest | 56.46 | 65.84 | 71.78 | 77.01 |
| Reconciled Depreciation | 3.92 | 5.78 | 5.78 | 5.93 |
| Net Interest Income | 145.87 | 191.07 | 188.85 | 198.90 |
| Net Income From Continuing And Discontinued Operation | 56.46 | 65.84 | 71.78 | 77.01 |
| Diluted Average Shares | 28.85 | 31.81 | 31.71 | 0 |
| Basic Average Shares | 28.85 | 31.63 | 31.59 | 0 |
| Diluted NI Availto Com Stockholders | 56.46 | 65.84 | 71.78 | 77.01 |
| Net Income Including Noncontrolling Interests | 56.46 | 65.84 | 71.78 | 77.01 |
| Net Income Continuous Operations | 56.46 | 65.84 | 71.78 | 77.01 |
| Special Income Charges | 0 | 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 |
| Amortization | 0.87 | 2.67 | 2.84 | 2.73 |
| Amortization Of Intangibles Income Statement | 0.87 | 2.67 | 2.84 | 2.73 |
| Selling And Marketing Expense | 3.80 | 5.04 | 4.32 | 4.18 |
| General And Administrative Expense | 61.26 | 79.77 | 78.69 | 82.11 |
| Other Gand A | 0 | 0 | 0 | 0 |
| Insurance And Claims | 1.16 | 2.28 | 2.25 | 2.23 |
| Salaries And Wages | 60.09 | 77.49 | 76.44 | 79.88 |
| Operating Revenue | 179.54 | 225.72 | 222.37 | 235.74 |
| 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 | 12.83 | 1.43 | 12.5% | - |
| Burford Capital Limited | BUR | $1.1B | 17.32 | 0.43 | 2.0% | - |
| Northeast Bank | NBN | $1.1B | 11.96 | 1.87 | 16.9% | - |
| Strive Asset Management, LLC | ASST | $1.0B | - | 1.11 | -92.5% | -4.30 |
| Univest Financial Corporation | UVSP | $1.0B | 11.34 |
| 1.12 |
| 9.6% |
| - |
| Capitol Federal Financial, Inc. | CFFN | $997M | 14.39 | 0.93 | 6.5% | - |
| Employers Holdings, Inc. | EIG | $983M | 75.51 | 0.85 | 1.1% | - |
| loanDepot, Inc. | LDI | $978M | - | 1.46 | -16.2% | - |
| Virtus Investment Partners, Inc. | VRTS | $977M | 6.93 | 1.03 | 14.8% | 8.04 |
| Peer Median | - | 13.17 | 1.07 | 4.2% | 1.87 | |