Hbt Financial, Inc. · NASDAQ:HBT
Hbt Financial — Q2 2026 Earnings Presentation
39 slides from Hbt Financial's earnings presentation, Jul 27, 2026
Slide 1: Q2 2026 Results Presentation
Q2 2026 Results Presentation July 27, 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: Q2 2026 Highlights
Q2 2026 Highlights n Net income of $27.8 million, or $0.76 per diluted share; return on average assets (ROAA) of 1.66% and return on average Strong profitability tangible common equity (ROATCE)1 of 17.69% and tangible book n Adjusted net income1 of $28.5 million, or $0.78 per diluted share; adjusted
Slide 4: Key Performance Company Snapshot
Company Snapshot Overview Financial Highlights ($mm) 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 1H26 IPO in October 2019 Total assets $5,073 $5,033 $5,071 $6,728 ü Headquartered in Bloomington, Illinois, with operat
Slide 5: Earnings Overview
Earnings Overview Prior Quarter Current Quarter Highlights Relative to Previous Quarter Non-GAAP Adjusted Non-GAAP Adjusted n Net interest income increased $12.7 million from the first quarter of ($000) 1Q26 Adj.1 1Q261 2Q26 Adj.1 2Q261 2026, primarily due to higher average interest-earning asset ba
Slide 6: Deposit Overview
Deposit Overview Deposit Base Highlights Interest Spot Interest n Highly granular deposit base with balances down during the second quarter 2026 primarily Costs* Rates due to seasonal tax payments and lower retail account balances 2Q26 As of 6/30/26 n Top 100 depositors, by balance, make up 15% of o
Slide 7: Net Interest Margin
Net Interest Margin n In April 2026, entered into an $85.0 million 5-year receive 3.51% fixed, pay Scheduled Fixed Rate Loan Maturities 1 month term SOFR variable interest rate swap designated as a cash flow hedge ($000) 3Q26 4Q26 1Q27 2Q27 2H27 n 32% of the loan portfolio matures or reprices within
Slide 8: 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 June 30, 2026 n $2.22 billion portfolio as of June 30, 2026 n $525 million in C&I loans primarily for working capital, asset acquisition, n $1.13
Slide 9: Loan Portfolio Overview: Selected Portfolios
Loan Portfolio Overview: Selected Portfolios Agriculture and Farmland Municipal, Consumer and Other n $594 million portfolio as of June 30, 2026 n $321 million portfolio as of June 30, 2026 n Borrower operations focus primarily on corn and soybean production n Commercial tax-exempt loans which are s
Slide 10: Loan Portfolio Overview: ACL and Asset Quality
Loan Portfolio Overview: ACL and Asset Quality 2Q26 ACL on Loans Activity ($000) $60,474 $100 $2,770 $60,564 $(1,262) $(897) $(621) 1Q26 Net Recoveries Changes in Changes in Changes in Changes in 2Q26 Specific Economic Qualitative Portfolio and Reserves Forecast Factors Other Changes CECL Methodolog
Slide 11: 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 June 30, 2026 n Financial planning n Real estate brokerage including auction services n Trust and estate
Slide 12: 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 $ 1,123,419 $ 443,042 $ 1,566,461 n Agency guaranteed MBS: MBS pass-throughs, CMOs,
Slide 13: 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 12.64 12.12 n Decreases in CET1 risk-based capital ratio in 2023 and 2026 were primarily a result of the Town and Count
Slide 14: Near-Term Outlook
Near-Term Outlook n Loan balances are expected to be flat to down slightly in 3Q26, as loan payoffs deferred from 2Q26 materialize. n NIM expected to be relatively flat in 3Q26, with assets continuing to reprice higher, offset by less loan accretion, while funding costs expected to remain stable. n
Slide 15: 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 16: Our Markets
Our Markets Full-Service Branch Locations Deposits Iowa: 2% Suburban St. Louis: 3% $5.8bn Chicago MSA: 30% Central Illinois: 65% Loans Iowa: 8% Suburban St. Louis: 8% $4.8bn Central Illinois: 39% Chicago MSA: 45% Full-Service Branches Iowa: 4 Suburban St. Louis: 5 83 Central Illinois: 53 Locations C
Slide 17: 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 18: 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 3 years with Company 46 years in industry 24 years with Company 32 years in industry 32 ye
Slide 19: 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 20: 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 21: 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 22: 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 12.12 11.83 12.31 12.42 12.20 13.37 14.55 11.08 13.70 13.67 12.48 12.12 12.16 2023 2024 2025 1Q26 2023 2024 2025 1Q26 HBT
Slide 23: Drives long-term shareholder value
1 . . . drives long-term shareholder value Cumulative Total Return (Initial investment of $100 and reinvestment of dividends) $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 6/30/2026 (IPO Date) HBT Financial, Inc
Slide 24: 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 6/30/26 (000) ($000) (Years) 1.86 Noninterest-bearing
Slide 25: Diversified loan portfolio and loan growth opportunities
2 . . . diversified loan portfolio and loan growth opportunities Loan Growth Opportunities Diversified Loan Portfolio Chicago MSA June 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 opportunit
Slide 26: 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 27: 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 28: Appendix
Appendix 27
Slide 29: Non-GAAP Reconciliations
Non-GAAP Reconciliations Adjusted Net Income and Adjusted ROAA ($000) 2023 2024 2025 1H26 1Q26 2Q26 Net income $ 65,842 $ 71,780 $ 77,008 $ 39,044 $ 11,200 $ 27,844 Adjustments: Acquisition expenses1 (13,691) — (999) (15,923) (15,666) (257) Net earnings (losses) on closed or sold operations — — — 51
Slide 30: Non-GAAP Reconciliations
Non-GAAP Reconciliations Adjusted Earnings Per Share ($000) 2Q26 Numerator: Net income $ 27,844 Adjusted net income $ 28,535 Denominator: Weighted average common shares outstanding 36,373,749 Dilutive effect of outstanding restricted stock units 92,939 Weighted average common shares outstanding, inc
Slide 31: Non-GAAP Reconciliations (cont’d)
Non-GAAP Reconciliations (cont’d) ROATCE, Adjusted ROAE, and Adjusted ROATCE ($000) 2023 2024 2025 1H26 1Q26 2Q26 Total stockholders’ equity $ 450,928 $ 515,368 $ 581,449 $ 714,647 $ 670,567 $ 758,243 Less: goodwill (57,266) (59,820) (59,820) (75,775) (67,977) (83,487) Less: intangible assets (20,27
Slide 32: 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 1H26 Net interest income $ 145,874 $ 191,072 $ 188,850 $ 198,895 $ 125,443 Tax-equivalent adjustment1 2,499 2,758 2,242 2,203 1,500 Net interest inco
Slide 33: Non-GAAP Reconciliations (cont’d)
Non-GAAP Reconciliations (cont’d) Efficiency Ratio (tax-equivalent basis) ($000) 2023 2024 2025 1H26 Total noninterest expense $ 130,964 $ 124,007 $ 129,418 $ 94,883 Less: amortization of intangible assets (2,670) (2,839) (2,726) (2,342) Noninterest expense excluding amortization of intangible asset
Slide 34: Non-GAAP Reconciliations (cont’d)
Non-GAAP Reconciliations (cont’d) Tangible Common Equity to Tangible Assets ($000) 2022 2023 2024 2025 2Q26 Tangible common equity Total equity $ 373,632 $ 489,496 $ 544,605 $ 615,498 $ 764,733 Less: goodwill (29,322) (59,820) (59,820) (59,820) (81,949) Less: intangible assets (1,070) (20,682) (17,8
Slide 35: Non-GAAP Reconciliations (cont’d)
Non-GAAP Reconciliations (cont’d) Tangible Book Value Per Share ($000) 2Q25 1Q26 2Q26 Tangible common equity Total equity $ 580,897 $ 747,405 $ 764,733 Less: goodwill (59,820) (83,504) (81,949) Less: intangible assets (16,454) (44,962) (42,858) Tangible common equity $ 504,623 $ 618,939 $ 639,926 Sh
Slide 36: Non-GAAP Reconciliations (cont’d)
Non-GAAP Reconciliations (cont’d) Core Deposits ($000) 2023 2024 2025 2Q26 Total deposits $ 4,401,437 $ 4,318,254 $ 4,359,263 $ 5,757,986 Less: time deposits of $250,000 or more (130,183) (202,196) (201,365) (376,569) Less: brokered deposits (144,880) — — — Core deposits $ 4,126,374 $ 4,116,058 $ 4,
Slide 37: 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 38: 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 39: BB ci
BB ci