HBT Financial Inc
For the period ended Dec 31, 2023. Filed Mar 6, 2024.
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FY2023 · Filed Mar 6, 2024
HBT$37.53+0.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Income
| Year Ended December 31, | |||
|---|---|---|---|
| (dollars in thousands, except per share data) | 2023 | 2022 | 2021 |
| INTEREST AND DIVIDEND INCOME | |||
| Loans, including fees: | |||
| Taxable | $191,008 | $120,343 | $103,900 |
| Federally tax exempt | 4,189 | 3,135 | 2,384 |
| Securities: | |||
| Taxable | 25,962 | 23,368 | 16,948 |
| Federally tax exempt | 4,225 | 4,569 | 4,400 |
| Interest-bearing deposits in bank | 3,020 | 1,541 | 527 |
| Other interest and dividend income | 595 | 98 | 64 |
| Total interest and dividend income | 228,999 | 153,054 | 128,223 |
| INTEREST EXPENSE | |||
| Deposits | 25,135 | 2,511 | 2,472 |
| Securities sold under agreements to repurchase | 255 | 36 | 34 |
| Borrowings | 7,128 | 967 | 9 |
| Subordinated notes | 1,879 | 1,879 | 1,879 |
| Junior subordinated debentures issued to capital trusts | 3,530 | 1,787 | 1,426 |
| Total interest expense | 37,927 | 7,180 | 5,820 |
| Net interest income | 191,072 | 145,874 | 122,403 |
| PROVISION FOR CREDIT LOSSES | 7,573 | (706) | (8,077) |
| Net interest income after provision for credit losses | 183,499 | 146,580 | 130,480 |
| NONINTEREST INCOME | |||
| Card income | 11,043 | 10,329 | 9,734 |
| Wealth management fees | 9,883 | 9,155 | 8,384 |
| Service charges on deposit accounts | 7,846 | 7,072 | 6,080 |
| Mortgage servicing | 4,678 | 2,609 | 2,825 |
| Mortgage servicing rights fair value adjustment | (1,615) | 2,153 | 1,690 |
| Gains on sale of mortgage loans | 1,526 | 1,461 | 5,846 |
| Realized gains (losses) on sales of securities | (1,820) | — | — |
| Unrealized gains (losses) on equity securities | 160 | (414) | 107 |
| Gains (losses) on foreclosed assets | 501 | (314) | 310 |
| Gains (losses) on other assets | 166 | 136 | (723) |
| Income on bank owned life insurance | 573 | 164 | 41 |
| Other noninterest income | 3,105 | 2,366 | 3,034 |
| Total noninterest income | 36,046 | 34,717 | 37,328 |
| NONINTEREST EXPENSE | |||
| Salaries | 67,453 | 51,767 | 48,972 |
| Employee benefits | 10,037 | 8,325 | 6,513 |
| Occupancy of bank premises | 9,918 | 7,673 | 6,788 |
| Furniture and equipment | 2,790 | 2,476 | 2,676 |
| Data processing | 12,352 | 7,441 | 7,329 |
| Marketing and customer relations | 5,043 | 3,803 | 3,376 |
| Amortization of intangible assets | 2,670 | 873 | 1,054 |
| FDIC insurance | 2,280 | 1,164 | 1,043 |
| Loan collection and servicing | 1,402 | 1,049 | 1,317 |
| Foreclosed assets | 251 | 293 | 908 |
| Other noninterest expense | 16,768 | 20,243 | 11,270 |
| Total noninterest expense | 130,964 | 105,107 | 91,246 |
| INCOME BEFORE INCOME TAX EXPENSE | 88,581 | 76,190 | 76,562 |
| INCOME TAX EXPENSE | 22,739 | 19,734 | 20,291 |
| NET INCOME | $65,842 | $56,456 | $56,271 |
| EARNINGS PER SHARE - BASIC | $2.08 | $1.95 | $2.02 |
| EARNINGS PER SHARE - DILUTED | $2.07 | $1.95 | $2.02 |
| WEIGHTED AVERAGE SHARES OF COMMON STOCK OUTSTANDING | 31,626,308 | 28,853,697 | 27,795,806 |
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