Business
HBT Financial, Inc. Announces Second Quarter 2022 Financial Results
Second Quarter Highlights Net income of $14.1 million, or $0.49 per diluted share; return on average assets (ROAA) of 1.32%; return on average stockholders'
About this update from Hbt Financial, Inc.
[{"type":"text","content":"Second Quarter Highlights Net income of $14.1 million, or $0.49 per diluted share; return on average assets (ROAA) of 1.32%; return on average stockholders' equity (ROAE) of 14.92%; and return on average tangible common equity (ROATCE)(1) of 16.25%Adjusted net income(1) of $13.8 million; or $0.48 per diluted share; adjusted ROAA(1) of 1.29%; adjusted ROAE(1) of 14.66%; and adjusted ROATCE(1) of 15.96% (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 25, 2022 (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 $14.1 million, or $0.49 diluted earnings per share, for the second quarter of 2022. This compares to net income of $13.6 million, or $0.47 diluted earnings per share, for the first quarter of 2022, and net income of $13.7 million, or $0.50 diluted earnings per share, for the second quarter of 2021. Fred L. Drake, Chairman and Chief Executive Officer of HBT Financial, said, “During the second quarter, we had significant expansion in our net interest margin, disciplined expense control, and continued strong asset quality, which enabled us to generate a higher level of earnings and returns compared to the prior quarter. Given our asset sensitive balance sheet, we expect to continue benefiting from higher interest rates, which along with our expectation for a higher level of loan growth in the second half of the year, should result in further increases in net interest income. As we look ahead, our franchise is built upon the foundation of a very stable deposit base and conservatively underwritten, well diversified loan portfolio that we believe will help us to effectively manage through any potential economic downturn and continue delivering strong financial performance. Combined with our exceptionally strong balance sheet, we believe our consistent financial performance will enable us to continue enhancing the value of our franchise and returning capital to our shareholders through our quarterly dividend and share repurchase program.” Adjusted Net Income In addition to reporting GAAP results, the Company believes adjusted net income and adjusted earni...