Hbt Financial, Inc. · NASDAQ:HBT
Hbt Financial — Q3 2026 Earnings Presentation
40 slides from Hbt Financial's earnings presentation, Oct 26, 2026
Slide 1: Q3 2026 Results Presentation
Q3 2026 Results Presentation October 26, 2026
Slide 2: Forward-Looking Statements
Forward-Looking Statements Readers should note that in addition to the historical information contained herein, this presentation contains, and future oral and written statements of the Company and its management may contain, “forward-looking statements” within the meanings of the Private Securities
Slide 3: Non-GAAP Financial Measures; Important Information and Where to Find It
Non-GAAP Financial Measures This presentation includes certain non-GAAP financial measures. While the Company believes these are useful measures for investors, they are not presented in accordance with GAAP. You should not consider non- GAAP measures in isolation or as a substitute for the most dire
Slide 4: Q3 2026 Highlights
Q3 2026 Highlights n Net income of $31.4 million, or $0.86 per diluted share; return on average assets (ROAA) of 1.85% and return on average tangible common equity (ROATCE)1 of 19.27% Strong profitability n Adjusted net income1 of $31.4 million, or $0.86 per diluted share; adjusted ROAA1 of 1.85% an
Slide 5: Company Snapshot
Company Snapshot Overview Financial Highlights ($mm) 3Q26 ü Company incorporated in 1982 from a base of family-owned banks and completed its As of or for the period ended 2023 2024 2025 YTD IPO in October 2019 Total assets $5,073 $5,033 $5,071 $6,719 ü Headquartered in Bloomington, Illinois, with op
Slide 6: Earnings Overview
Earnings Overview Prior Quarter Current Quarter Highlights Relative to Previous Quarter Non-GAAP Adjusted Non-GAAP Adjusted n Net interest income increased $1.3 million from the second quarter of ($000) 2Q26 Adj.1 2Q261 3Q26 Adj.1 3Q261 2026, primarily due to higher yields on loans and higher averag
Slide 7: Deposit Overview
Deposit Overview Deposit Base Highlights Interest Spot Interest n Highly granular deposit base with balances down $5.6 million primarily due to lower retail Costs* Rates account balances and seasonally lower public funds balances, which were mostly offset by an 3Q26 As of 9/30/26 increase in busines
Slide 8: Net Interest Margin
Net Interest Margin n Third quarter 2026 net interest margin and net interest margin (tax- Scheduled Fixed Rate Loan Maturities equivalent basis)1 increased 3 and 2 basis points, respectively, from the prior quarter ($000) 4Q26 1Q27 2Q27 3Q27 4Q27 n 33% of the loan portfolio matures or reprices with
Slide 9: Loan Portfolio Overview: Commercial and Commercial Real Estate
Loan Portfolio Overview: Commercial and Commercial Real Estate Commercial Loan Portfolio Commercial Real Estate Portfolio n $1.03 billion portfolio as of September 30, 2026 n $2.26 billion portfolio as of September 30, 2026 n $510 million in C&I loans primarily for working capital, asset acquisition
Slide 10: Loan Portfolio Overview: Selected Portfolios
Loan Portfolio Overview: Selected Portfolios Agriculture and Farmland Municipal, Consumer and Other n $595 million portfolio as of September 30, 2026 n $317 million portfolio as of September 30, 2026 n Borrower operations focus primarily on corn and soybean production n Commercial tax-exempt loans w
Slide 11: Loan Portfolio Overview: ACL and Asset Quality
Loan Portfolio Overview: ACL and Asset Quality 3Q26 ACL on Loans Activity ($000) $60,564 $504 $1,765 $60,475 $(121) $(489) $(1,748) 2Q26 Net Recoveries Changes in Changes in Changes in Changes in 3Q26 Specific Economic Qualitative Portfolio and Reserves Forecast Factors Other Changes CECL Methodolog
Slide 12: Wealth Management Overview
Wealth Management Overview Comprehensive Wealth Management Services Agricultural Services n Proprietary investment management solutions n Farm management services: over 92,000 acres managed as of September 30, n Financial planning 2026 n Trust and estate administration n Real estate brokerage includ
Slide 13: Securities Portfolio Overview
Securities Portfolio Overview Securities Overview Key Investment Portfolio Metrics n Company’s debt securities consist primarily of the following types of fixed ($000) AFS HTM Total income instruments: Amortized Cost $ 1,147,049 $ 417,491 $ 1,564,540 n Agency guaranteed MBS: MBS pass-throughs, CMOs,
Slide 14: Capital and Liquidity Overview
Capital and Liquidity Overview CET1 Risk-Based Capital Ratio (%) Capital and Liquidity Highlights 14.42 n All capital measures remain well above regulatory requirements 13.07 13.21 12.94 12.12 n Decreases in CET1 risk-based capital ratio in 2023 and 2026 were primarily a result of the Town and Count
Slide 15: Near-Term Outlook
Near-Term Outlook n Loan balances are expected to be relatively flat in 4Q26, with pipelines consistent with 3Q26 and 4Q25, but higher levels of loan payoffs are expected in 4Q26. n NIM expected to be up modestly in 4Q26, with asset repricing expected to outpace growth in cost of funds based on the
Slide 16: Our History – Long track record of organic and acquisitive growth
Our History – Long track record of organic and acquisitive growth 1920 1982 1997 2010 - 2015 2019 2021 2026 M.B. Drake HBT Financial, Inc. All five banks owned Wave of FDIC-assisted Completion of Entry into Expansion of Illinois starts bank in incorporates as a by HBT Financial, Inc. and strategic I
Slide 17: Our Markets
Our Markets Full-Service Branch Locations Deposits Iowa: 2% Suburban St. Louis: 3% $5.8bn Chicago MSA: 29% Central Illinois: 66% Loans Iowa: 8% Suburban St. Louis: 8% $4.8bn Central Illinois: 38% Chicago MSA: 46% Full-Service Branches Iowa: 4 Suburban St. Louis: 5 83 Central Illinois: 53 Locations C
Slide 18: Business Strategy
Business Strategy Small enough to know you, big enough to serve you Deploy excess deposit Maintain a prudent Pursue strategic Preserve strong ties to funding into loan growth approach to credit acquisitions and sustain our communities opportunities underwriting strong profitability n Drake family in
Slide 19: Experienced executive management team with deep community ties
Experienced executive management team with deep community ties Fred L. Drake J. Lance Carter Peter Chapman Executive Chairman President and Chief Financial Officer 43 years with Company Chief Executive Officer 4 years with Company 46 years in industry 25 years with Company 32 years in industry 32 ye
Slide 20: Talented Board of Directors with deep financial services industry experience
Talented Board of Directors with deep financial services industry experience Fred L. Drake J. Lance Carter Patrick F. Busch James T. Ashworth Roger A. Baker Dr. C. Alvin Bowman Executive Chairman Director Director Director Director Director • Director since 1984 • Director since 2011 • Director sinc
Slide 21: Investment Highlights
Investment Highlights Consistent performance through economic cycles and 1 consistent out-performance of peers drives long-term shareholder value Strong, granular, low-cost deposit base provides funding for 2 diversified loan portfolio and loan growth opportunities 3 Track record of successfully int
Slide 22: Consistent performance through economic cycles
1 Consistent performance through economic cycles. . . Drivers of Profitability Pre-Tax Return on Average Assets (%) Company Company Adjusted1 Peer Median 2 3.00% 1 Strong, granular, low-cost deposits 2.75% 2.50% 2.25% Relationship-based business model 2.00% 2 that has allowed us to cultivate and 1.7
Slide 23: Consistent out-performance of peers
1 . . . and consistent out-performance of peers. . . Robust Capitalization Superior Profitability CET1 Capital Ratio (%) Adjusted Return on Average Equity (%) 2 14.42 17.34 13.21 12.64 12.12 11.83 12.31 12.07 13.37 14.55 14.43 13.14 11.08 13.70 12.12 12.16 2023 2024 2025 1H26 2023 2024 2025 1H26 HBT
Slide 24: Drives long-term shareholder value
1 . . . drives long-term shareholder value Cumulative Total Return (Initial investment of $100 and reinvestment of dividends) $350.00 $300.00 $250.00 $200.00 $150.00 $100.00 $50.00 10/11/2019 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025 9/30/2026 (IPO Date) HBT Financ
Slide 25: Strong, granular, low-cost deposit base provides funding
2 Strong, granular, low-cost deposit base provides funding for . . . Cost of Deposits (%) Remains Consistently Below Peers Deposit Base Characteristics2 HBT Peer Median1 1 Average Number of Account Weighted Accounts Balance Average Age 2.03 As of 9/30/26 (000) ($000) (Years) 1.86 Noninterest-bearing
Slide 26: Diversified loan portfolio and loan growth opportunities
2 . . . diversified loan portfolio and loan growth opportunities Loan Growth Opportunities Diversified Loan Portfolio Chicago MSA September 30, 2026 n Entered market in 2011 with acquisition of Western Springs National Bank Balance n Scale and diversity of Chicago MSA provides continued growth oppor
Slide 27: Track record of successfully integrating acquisitions
3 Track record of successfully integrating acquisitions 2007 2010 2012 2018 2023 BankPlus Bank of Illinois Farmer City State Bank Lincoln S.B. Corp Town and Country Morton, IL Normal, IL Farmer City, IL (State Bank of Lincoln)1 Financial Corporation $231mm deposits FDIC-assisted $176mm $70mm deposit
Slide 28: Prudent risk management
4 Prudent risk management Comprehensive Enterprise Risk Management Disciplined Credit Risk Management Strategy and Risk Management n Risk management culture instilled by management n Majority of directors are independent, with varied expertise and n Well-diversified loan portfolio across commercial,
Slide 29: Appendix
Appendix 28
Slide 30: Non-GAAP Reconciliations
Non-GAAP Reconciliations Adjusted Net Income and Adjusted ROAA ($000) 2023 2024 2025 3Q26 YTD 2Q26 3Q26 Net income $ 65,842 $ 71,780 $ 77,008 $ 70,436 $ 27,844 $ 31,392 Adjustments: Acquisition expenses1 (13,691) — (999) (16,928) (257) (1,005) Net earnings (losses) on closed or sold operations — — —
Slide 31: Non-GAAP Reconciliations
Non-GAAP Reconciliations Adjusted Earnings Per Share ($000) 3Q26 Numerator: Net income $ 31,392 Adjusted net income $ 31,411 Denominator: Weighted average common shares outstanding 36,365,612 Dilutive effect of outstanding restricted stock units 123,811 Weighted average common shares outstanding, in
Slide 32: Non-GAAP Reconciliations (cont’d)
Non-GAAP Reconciliations (cont’d) ROATCE, Adjusted ROAE, and Adjusted ROATCE ($000) 2023 2024 2025 3Q26 YTD 2Q26 3Q26 Total stockholders’ equity $ 450,928 $ 515,368 $ 581,449 $ 733,380 $ 758,243 $ 770,236 Less: goodwill (57,266) (59,820) (59,820) (77,855) (83,487) (81,949) Less: intangible assets (2
Slide 33: Non-GAAP Reconciliations (cont’d)
Non-GAAP Reconciliations (cont’d) Net Interest Income (tax-equivalent basis) and Net Interest Margin (tax-equivalent basis) ($000) 2022 2023 2024 2025 3Q26 YTD Net interest income $ 145,874 $ 191,072 $ 188,850 $ 198,895 $ 195,764 Tax-equivalent adjustment1 2,499 2,758 2,242 2,203 2,369 Net interest
Slide 34: Non-GAAP Reconciliations (cont’d)
Non-GAAP Reconciliations (cont’d) Efficiency Ratio (tax-equivalent basis) ($000) 2023 2024 2025 3Q26 YTD Total noninterest expense $ 130,964 $ 124,007 $ 129,418 $ 137,546 Less: amortization of intangible assets (2,670) (2,839) (2,726) (3,797) Noninterest expense excluding amortization of intangible
Slide 35: Non-GAAP Reconciliations (cont’d)
Non-GAAP Reconciliations (cont’d) Tangible Common Equity to Tangible Assets ($000) 2022 2023 2024 2025 3Q26 Tangible common equity Total equity $ 373,632 $ 489,496 $ 544,605 $ 615,498 $ 754,091 Less: goodwill (29,322) (59,820) (59,820) (59,820) (81,949) Less: intangible assets (1,070) (20,682) (17,8
Slide 36: Non-GAAP Reconciliations (cont’d)
Non-GAAP Reconciliations (cont’d) Tangible Book Value Per Share ($000) 3Q25 2Q26 3Q26 Tangible common equity Total equity $ 599,129 $ 764,733 $ 754,091 Less: goodwill (59,820) (81,949) (81,949) Less: intangible assets (15,760) (42,858) (41,403) Tangible common equity $ 523,549 $ 639,926 $ 630,739 Sh
Slide 37: Non-GAAP Reconciliations (cont’d)
Non-GAAP Reconciliations (cont’d) Core Deposits ($000) 2023 2024 2025 3Q26 Total deposits $ 4,401,437 $ 4,318,254 $ 4,359,263 $ 5,752,432 Less: time deposits of $250,000 or more (130,183) (202,196) (201,365) (384,516) Less: brokered deposits (144,880) — — — Core deposits $ 4,126,374 $ 4,116,058 $ 4,
Slide 38: Non-GAAP Reconciliations (cont’d)
Non-GAAP Reconciliations (cont’d) Adjusted Pre-Tax ROAA (2011 to 2013) ($000) 2011 2012 2013 Income before income tax expense $ 47,301 $ 71,384 $ 46,134 Adjustments: Bargain purchase gain 25,417 11,361 — Realized gains (losses) on sale of securities — 9,683 (9,143) Net positive adjustments on FDIC i
Slide 39: Peer Group Members
Peer Group Members Ticker Symbol Company Name BFC Bank First Corporation BY Byline Bancorp, Inc. COFS ChoiceOne Financial Services, Inc. CIVB Civista Bancshares, Inc. EQBK Equity Bancshares, Inc. FMNB Farmers National Banc Corp. THFF First Financial Corporation FMBH First Mid Bancshares, Inc. GABC G
Slide 40: BB ci
BB ci