Business
HBT Financial, Inc. Announces Fourth Quarter 2019 Financial Results
Fourth Quarter Highlights Net income of $16.1 million; Return on average assets (ROAA) of 1.97%; return on average stockholders' equity (ROAE) of 19.39%; and
About this update from Hbt Financial, Inc.
[{"type":"text","content":"Fourth Quarter Highlights\n Net income of $16.1 million; Return on average assets (ROAA) of 1.97%; return on average stockholders' equity (ROAE) of 19.39%; and return on average tangible common equity (ROATCE)(1) of 21.17%C Corp equivalent net income of $15.1 million; C Corp equivalent ROAA of 1.85%; C Corp equivalent ROAE of 18.19%; and C Corp equivalent ROATCE(1) of 19.86%Adjusted C Corp equivalent net income(1) of $14.4 million; adjusted C Corp equivalent ROAA(1) of 1.77%; adjusted C Corp equivalent ROAE(1) of 17.38%; and adjusted C Corp equivalent ROATCE(1) of 18.97%Initial public offering priced on October 10, 2019 _____________________(1) See “Non-GAAP Financial Measures” and “Reconciliation of Non-GAAP Financial Measures” below for a discussion of non-GAAP financial measures and reconciliations to GAAP financial measures. BLOOMINGTON, Ill., Jan. 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 $16.1 million, or $0.61 diluted earnings per share, for the fourth quarter of 2019. This compares to net income of $17.4 million, or $0.97 diluted earnings per share, for the third quarter of 2019, and net income of $11.9 million, or $0.66 diluted earnings per share, for the fourth quarter of 2018. Fred L. Drake, Chairman and Chief Executive Officer of HBT Financial, said, “Our 2019 performance is a result of strong execution on the strategies that have made HBT Financial a consistently high performing company. HBT Financial has an attractive core deposit base, strong capital levels and solid asset quality. We are pleased to initiate a quarterly cash dividend to enhance the total return we deliver for shareholders. During 2019, we had continued momentum on our earnings and organic loan growth. We are pleased to have completed our initial public offering and are well positioned for the future, and we expect to continue to enhance the value of our franchise through both organic and acquisition growth strategies.” C Corp Equivalent Net Income and Adjusted C Corp Equivalent Net Income The Company has historically operated as an S Corporation for U.S. federal and state income tax purposes. Following the completion of the initial public offering during the fourth quarter of 2019...