# HBT Financial, Inc. (NASDAQ: HBT) – Q2 2025 Financial Results
**Release Date:** July 21, 2025
HBT Financial, Inc., headquartered in Bloomington, Illinois, is the holding company for Heartland Bank and Trust Company. It reported its financial results for the second quarter of 2025, showcasing steady performance and growth in several key areas. Below is a summary of the financial highlights and key performance metrics from the report.
## Financial Highlights
– **Net Income**:
– Reported **$19.2 million**, or **$0.61 per diluted share**.
– Increased from **$19.1 million** in Q1 2025 and **$18.1 million** in Q2 2024.
– **Adjusted Net Income**:
– **$19.8 million**, or **$0.63 per diluted share**.
– Increased from **$19.3 million** in Q1 2025 and **$18.1 million** in Q2 2024.
– **Return on Average Assets (ROAA)**:
– **1.53%**, compared to **1.45%** in Q2 2024 (increase of **0.08 percentage points**).
– **Return on Average Stockholders’ Equity (ROAE)**:
– **13.47%**, down from **14.48%** in Q2 2024 (decrease of **1.01 percentage points**).
– **Return on Average Tangible Common Equity (ROATCE)**:
– **15.55%**, down from **17.21%** in Q2 2024 (decrease of **1.66 percentage points**).
– **Net Interest Margin**:
– Increased to **4.14%**, up from **3.95%** in Q2 2024 (increase of **0.19 percentage points**).
– **Net Interest Margin (Tax-Equivalent Basis)**:
– Increased to **4.19%**, up from **4.00%** in Q2 2024 (increase of **0.19 percentage points**).
– **Asset Quality**:
– Nonperforming assets to total assets at **0.13%** compared to **0.17%** in Q2 2024 (decrease of **0.04 percentage points**).
– Net charge-offs to average loans at **0.12%**, compared to **0.08%** in Q2 2024 (increase of **0.04 percentage points**).
– **Total Loans**:
– Decreased to **$3.35 billion** from **$3.39 billion** year-over-year.
– **Total Deposits**:
– Decreased to **$4.31 billion** from **$4.32 billion** year-over-year.
– **Effective Tax Rate**:
– Rose to **27.0%** from **25.2%** in the previous quarter.
## Dividends and Share Repurchase
– **Share Repurchase**:
– The company repurchased **135,997 shares** of its common stock at a weighted average price of **$21.30**. As of June 30, 2025, the company had **$12.1 million** remaining under its $15 million stock repurchase program.
## Additional Metrics
– **Tangible Book Value per Share**:
– Increased by **$0.59** to **$16.02**, an increase of **3.8%** for the quarter and **17.4%** over the last year.
– **Loan to Deposit Ratio**:
– Stood at **77.75%**.
– **Capital Ratios**:
– Total capital to risk-weighted assets at **17.74%** (previously **16.01%**).
– Tier 1 capital to risk-weighted assets at **15.60%**.
– Common equity tier 1 capital ratio at **14.26%**.
## Conclusion
HBT Financial, Inc. showcased a solid performance in Q2 2025, with net income and adjusted net income showing consistent growth compared to both the previous quarter and the same period last year. The improvement in net interest margin and asset quality, although the company faces challenges such as a decrease in total loans and the effective tax rate, reflects its stable financial health and operational strength within the evolving economic landscape.
For more detailed information, please refer to the HBT Financial’s investor relations website.
Here are the extracted tables in HTML format:
### Consolidated Statements of Income
*(dollars in thousands)*
| Three Months Ended | Six Months Ended | ||
|---|---|---|---|
| June 30, 2025 | March 31, 2025 | June 30, 2024 | |
| INTEREST AND DIVIDEND INCOME | |||
| Loans, including fees: | $ 53,156 | $ 53,369 | $ 52,177 |
| Federal tax exempt | 1,215 | 1,168 | 1,097 |
| Debt securities | |||
| Federal tax exempt | 7,434 | 6,936 | 6,315 |
| Interest on deposits | 1,544 | 1,065 | 2,570 |
| Other interest and dividend income | 113 | 131 | 144 |
| Total interest and dividend income | $ 63,919 | $ 63,138 | $ 62,824 |
| INTEREST EXPENSE | |||
| Deposits | 12,835 | 12,939 | 14,133 |
| Securities sold under repurchase agreements | — | 22 | 129 |
| Borrowings | 30 | 109 | 121 |
| Subordinated notes issued to capital trusts | 469 | 470 | 469 |
| Junior subordinated debentures | 927 | 890 | 944 |
| Total interest expense | $ 14,261 | $ 14,430 | $ 15,796 |
| Net interest income | $ 49,658 | $ 48,708 | $ 47,028 |
| PROVISION FOR CREDIT LOSSES | 526 | 576 | 1,176 |
| Net interest income after provision for credit losses | $ 49,132 | $ 48,132 | $ 45,852 |
| NONINTEREST INCOME | |||
| Card income | 2,797 | 2,548 | 2,885 |
| Wealth management fees | 2,826 | 2,841 | 2,623 |
| Service charges on deposit accounts | 1,915 | 1,944 | 1,902 |
| Mortgage servicing rights fair value adjustment | -751 | -308 | -97 |
| Gains on sale of mortgage loans | 459 | 252 | 443 |
| Total noninterest income | $ 9,140 | $ 9,306 | $ 9,610 |
| NONINTEREST EXPENSE | |||
| Salaries | 16,452 | 17,053 | 16,364 |
| Employee benefits | 3,580 | 3,285 | 2,860 |
| Occupancy of bank premises | 2,471 | 2,625 | 2,243 |
| Other noninterest expense | 3,457 | 3,021 | 3,132 |
| Total noninterest expense | $ 31,914 | $ 31,935 | $ 30,509 |
| INCOME BEFORE INCOME TAX EXPENSE | 26,358 | 25,503 | 24,953 |
| INCOME TAX EXPENSE | 7,128 | 6,428 | 6,883 |
| NET INCOME | $ 19,230 | $ 19,075 | $ 18,070 |
| EARNINGS PER SHARE – DILUTED | $ 0.61 | $ 0.60 | $ 0.57 |
—
### Consolidated Balance Sheets
*(dollars in thousands)*
| June 30, 2025 | March 31, 2025 | June 30, 2024 | |
|---|---|---|---|
| ASSETS | |||
| Cash and due from banks | $ 25,563 | $ 25,005 | $ 22,604 |
| Interest-bearing deposits with banks | 170,179 | 186,586 | 172,636 |
| Cash and cash equivalents | 195,742 | 211,591 | 195,240 |
| Debt securities available-for-sale, at fair value | 773,206 | 706,135 | 669,055 |
| Debt securities held-to-maturity | 481,942 | 490,398 | 512,549 |
| Loans held for sale | 2,316 | 2,721 | 858 |
| Loans, before allowance for credit losses | 3,348,211 | 3,461,778 | 3,385,483 |
| Allowance for credit losses | -41,659 | -42,111 | -40,806 |
| Loans, net of allowance for credit losses | 3,306,552 | 3,419,667 | 3,344,677 |
| Total assets | $ 5,018,398 | $ 5,092,192 | $ 5,006,199 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | |||
| Deposits: | |||
| Noninterest-bearing | $ 1,034,387 | $ 1,065,874 | $ 1,045,697 |
| Interest-bearing | 3,272,144 | 3,318,716 | 3,272,996 |
| Total deposits | $ 4,306,531 | $ 4,384,590 | $ 4,318,693 |
| Total liabilities | $ 4,437,501 | $ 4,527,135 | $ 4,496,730 |
| Stockholders’ Equity | |||
| Common stock | 329 | 329 | 328 |
| Surplus | 297,479 | 297,024 | 296,430 |
| Total stockholders’ equity | $ 580,897 | $ 565,057 | $ 509,469 |
| Total liabilities and stockholders’ equity | $ 5,018,398 | $ 5,092,192 | $ 5,006,199 |
