Business
HBT Financial, Inc. Announces First Quarter 2020 Financial Results
First Quarter Highlights Net income of $6.2 million, or $0.23 per diluted share; return on average assets (ROAA) of 0.78%; return on average stockholders'
About this update from Hbt Financial, Inc.
[{"type":"text","content":"First Quarter Highlights\n Net income of $6.2 million, or $0.23 per diluted share; return on average assets (ROAA) of 0.78%; return on average stockholders' equity (ROAE) of 7.29%; and return on average tangible common equity (ROATCE)(1) of 7.92%Adjusted net income(1) of $8.4 million; or $0.30 per diluted share, adjusted ROAA(1) of 1.05%; adjusted ROAE(1) of 9.81%; and adjusted ROATCE(1) of 10.67%$141 million in Paycheck Protection Program loans approved and funded subsequent to March 31, 2020 through April 24, 2020 _______________________ (1) See \"Reconciliation of Non-GAAP Financial Measures\" below for reconciliation of non-GAAP financial measures to their most comparable GAAP financial measures. BLOOMINGTON, Ill., April 30, 2020 (GLOBE NEWSWIRE) -- HBT Financial, Inc. (NASDAQ: HBT) (the “Company” or “HBT Financial”), the holding company for Heartland Bank and Trust Company and State Bank of Lincoln, today reported net income of $6.2 million, or $0.23 diluted earnings per share, for the first quarter of 2020. This compares to net income of $16.1 million, or $0.61 diluted earnings per share, for the fourth quarter of 2019, and net income of $18.7 million, or $1.04 diluted earnings per share, for the first quarter of 2019. Fred L. Drake, Chairman and Chief Executive Officer of HBT Financial, said, “The COVID-19 pandemic has presented unprecedented challenges for our team and for our customers. However, for several generations, our banks have been a source of strength for our customers and communities during difficult times. Our top priority is supporting our employees and customers and maintaining the health and safety of all involved. Many of our employees have been able to work remotely and we took the difficult step of closing our lobbies, with visits limited to appointment only. Our team has worked hard to minimize customer impact and continue our commitment to excellent service. Our retail staff continues to assist our clients with essential banking needs, and our lenders are in regular contact with our borrowers, working closely with them for the best solutions under the current circumstances. Through April 24, 2020, we had funded $141 million of PPP (Payroll Protection Program) loans, for 1,129 businesses in our communities. HBT Financial is well positioned, with an attractive deposit base, strong capital levels and a t...