Business
HBT Financial, Inc. Announces Fourth Quarter 2022 Financial Results
Quarterly Cash Dividend Increased to $0.17 per Share Fourth Quarter Highlights Net income of $17.2 million, or $0.59 per diluted share; return on average
About this update from Hbt Financial, Inc.
[{"type":"text","content":"Quarterly Cash Dividend Increased to $0.17 per Share\nFourth Quarter Highlights Net income of $17.2 million, or $0.59 per diluted share; return on average assets (ROAA) of 1.60%; return on average stockholders’ equity (ROAE) of 18.50%; and return on average tangible common equity (ROATCE)(1) of 20.17%Adjusted net income(1) of $17.9 million; or $0.62 per diluted share; adjusted ROAA(1) of 1.67%; adjusted ROAE(1) of 19.31%; and adjusted ROATCE(1) of 21.05%Asset quality remained strong with nonperforming assets to total assets of 0.12%Net interest margin expanded 45 basis points to 4.10% (1) See “Reconciliation of Non-GAAP Financial Measures” below for reconciliation of non-GAAP financial measures to their most closely comparable GAAP financial measures. BLOOMINGTON, Ill., Jan. 25, 2023 (GLOBE NEWSWIRE) -- HBT Financial, Inc. (NASDAQ: HBT) (the “Company” or “HBT Financial” or “HBT”), the holding company for Heartland Bank and Trust Company, today reported net income of $17.2 million, or $0.59 diluted earnings per share, for the fourth quarter of 2022. This compares to net income of $15.6 million, or $0.54 diluted earnings per share, for the third quarter of 2022, and net income of $13.6 million, or $0.47 diluted earnings per share, for the fourth quarter of 2021. Fred L. Drake, Chairman and Chief Executive Officer of HBT Financial, said, “We had an excellent fourth quarter to complete 2022, thanks to growth in average earning assets, expanded net interest margin and solid non-interest income, resulting in increased book value and tangible book value per share. We expect to deliver good results again for our shareholders in 2023. We are excited to close the pending merger with Town and Country Financial Corporation (‘Town and Country’) during the first quarter, which will add scale and efficiency, generate profitable growth and enhance the long-term value of our company. Town and Country has a long history in their markets and is a high performing bank – we look forward to teaming up to build future success.” “While the economy faces a lot of uncertainty, we are confident in our ability to manage through challenging times. Our bank has a strong foundation, with a proven executive team, an established core deposit base and a conservative, well-diversified loan portfolio.” Adjusted Net Income In addition to reporting GAAP results, the...