Business
HBT Financial, Inc. Announces Second Quarter 2021 Financial Results
EXHIBIT 99.1 Second Quarter Highlights Net income of $13.7 million, or $0.50 per diluted share; return on average assets (ROAA) of 1.40%; return on average
About this update from Hbt Financial, Inc.
[{"type":"text","content":"EXHIBIT 99.1 Second Quarter Highlights Net income of $13.7 million, or $0.50 per diluted share; return on average assets (ROAA) of 1.40%; return on average stockholders' equity (ROAE) of 15.07%; and return on average tangible common equity (ROATCE)(1) of 16.22%Adjusted net income(1) of $14.2 million; or $0.52 per diluted share, adjusted ROAA(1) of 1.45%; adjusted ROAE(1) of 15.56%; and adjusted ROATCE(1) of 16.76% ______________________________(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., July 26, 2021 (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 $13.7 million, or $0.50 diluted earnings per share, for the second quarter of 2021. This compares to net income of $15.2 million, or $0.55 diluted earnings per share, for the first quarter of 2021, and net income of $7.4 million, or $0.27 diluted earnings per share, for the second quarter of 2020. Fred L. Drake, Chairman and Chief Executive Officer of HBT Financial, said, “As economic activity increased in our markets, we saw strong performance among our customer base resulting in continued inflows of core deposits, growth in earning assets, increases in card income and wealth management revenue, and further improvement in asset quality. Combined with disciplined expense control, these positive trends resulted in continued solid results for the Company. As economic conditions further improve during the second half of the year, we are hopeful to see higher levels of loan demand that will allow us to deploy our significant excess liquidity. We are also focused on completing our acquisition of NXT Bancorporation, which we still expect to occur in the fourth quarter of 2021. We believe the addition of NXT and the presence it will provide in faster growing markets in Iowa will enhance the value of our franchise and improve our ability to generate higher levels of organic growth in the years ahead.” Adjusted Net Income In addition to reporting GAAP results, the Company believes adjusted net income and adjusted earnings per share, which adjust for the additional C Corp equivalent tax expense for periods prior to O...