HBT Financial Inc

For the period ended Mar 31, 2024. Filed May 1, 2024.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2024 · Filed May 1, 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 exhibits

Contents

Consolidated Statements of Cash Flows

	Three Months Ended March 31,
(dollars in thousands)	2024	2023
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$15,258	$9,208
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation expense	729	793
Provision for credit losses	527	6,210
Net amortization of debt securities	1,036	1,518
Deferred income tax expense (benefit)	1,154	(1,079)
Stock-based compensation	509	517
Net accretion of discount and deferred loan fees on loans	(1,854)	(1,635)
Net realized loss on sales of securities	3,382	1,007
Net unrealized loss on equity securities	16	22
Net loss on disposals of bank premises and equipment	55	—
Impairment losses on bank premises held for sale	580	—
Net gain on sales of foreclosed assets	(113)	(20)
Write-down of foreclosed assets	26	30
Amortization of intangibles	710	510
Decrease (increase) in mortgage servicing rights	(80)	624
Amortization of discount and issuance costs on subordinated notes and debentures	35	37
Amortization of discount on Federal Home Loan Bank advances	102	69
Amortization of premium on time deposits	(30)	(110)
Mortgage loans originated for sale	(12,459)	(15,734)
Proceeds from sale of mortgage loans	11,596	13,107
Net gain on sale of mortgage loans	(298)	(276)
Increase in cash surrender value of bank owned life insurance	(164)	(108)
Decrease in accrued interest receivable	1,417	2,318
Decrease (increase) in other assets	(5,574)	7,846
Increase (decrease) in other liabilities	10,212	(3,364)
Net cash provided by operating activities	26,772	21,490
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of interest-bearing time deposits with banks	(6)	—
Proceeds from sales of securities	66,832	145,844
Proceeds from paydowns, maturities, and calls of debt securities	29,563	26,513
Purchase of securities	(4,874)	(51)
Purchase of loans	(4,448)	—
Net decrease in loans	64,761	61,964
Purchase of restricted stock	—	(3,545)
Proceeds from redemption of restricted stock	2,005	9,341
Purchases of bank premises and equipment	(1,286)	(622)
Proceeds from sales of bank premises and equipment	—	7
Proceeds from sales of foreclosed assets	865	40
Net cash paid for acquisition of Town and Country	—	(14,454)
Net cash provided by investing activities	153,412	225,037

CONSOLIDATED STATEMENTS OF CASH FLOWS (CONTINUED)

	Three Months Ended March 31,
(dollars in thousands)	2024	2023
CASH FLOWS FROM FINANCING ACTIVITIES
Net increase (decrease) in deposits	(40,833)	3,190
Net decrease in repurchase agreements	(10,578)	(8,162)
Net decrease in Federal Home Loan Bank advances	—	(171,325)
Taxes paid related to the vesting of restricted stock units	(331)	(181)
Repurchase of common stock	(3,410)	(1,588)
Cash dividends and dividend equivalents paid	(6,072)	(5,508)
Net cash used in financing activities	(61,224)	(183,574)
NET INCREASE IN CASH AND CASH EQUIVALENTS	118,960	62,953
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR	141,252	114,159
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$260,212	$177,112
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
Cash paid for interest	$15,926	$4,903
Net refunds received for income taxes	$(749)	$—
SUPPLEMENTAL DISCLOSURES OF NONCASH INVESTING ACTIVITIES
Transfers of loans to foreclosed assets	$203	$105
Transfers of bank premises and equipment to bank premises held for sale	$317	$—

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.