HBT Financial Inc
For the period ended Dec 31, 2024. Filed Mar 7, 2025.
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FY2024 · Filed Mar 7, 2025
HBT$37.53+0.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Year Ended December 31, | |||
|---|---|---|---|
| (dollars in thousands) | 2024 | 2023 | 2022 |
| CASH FLOWS FROM OPERATING ACTIVITIES | |||
| Net income | $71,780 | $65,842 | $56,456 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation expense | 2,944 | 3,108 | 3,043 |
| Provision for credit losses | 3,031 | 7,573 | (706) |
| Net amortization of debt securities | 3,641 | 5,730 | 6,959 |
| Deferred income tax expense (benefit) | 996 | 3,817 | (2,919) |
| Stock-based compensation | 1,752 | 1,953 | 1,949 |
| Net accretion of discount and deferred loan fees on loans | (7,187) | (7,228) | (5,337) |
| Net realized loss on sales of securities | 3,697 | 1,820 | — |
| Net unrealized loss (gain) on equity securities | 59 | (160) | 414 |
| Net loss (gain) on disposals of bank premises and equipment | 55 | (84) | (9) |
| Net gain on sales of bank premises held for sale | — | (81) | (187) |
| Impairment losses on bank premises held for sale | 580 | — | 60 |
| Net gain on sales of foreclosed assets | (112) | (764) | (118) |
| Write-down of foreclosed assets | 90 | 263 | 432 |
| Amortization of intangibles | 2,839 | 2,670 | 873 |
| Decrease (increase) in mortgage servicing rights | 174 | 1,615 | (2,153) |
| Amortization of discount and issuance costs on subordinated notes and debentures | 139 | 139 | 145 |
| Amortization of discount on Federal Home Loan Bank advances | 401 | 379 | — |
| Amortization of premium on interest-bearing time deposits with banks | — | — | 5 |
| Amortization of premium on time deposits | (108) | (400) | (188) |
| Mortgage loans originated for sale | (62,649) | (69,663) | (56,240) |
| Proceeds from sale of mortgage loans | 64,992 | 71,098 | 62,028 |
| Net gain on sale of mortgage loans | (1,611) | (1,526) | (1,461) |
| Increase in cash surrender value of bank owned life insurance | (668) | (566) | (164) |
| Net gain on bank owned life insurance proceeds | (247) | — | — |
| Increase in accrued interest receivable | (236) | (1,915) | (4,605) |
| Decrease (increase) in other assets | 3,053 | 2,174 | (8,007) |
| Increase (decrease) in other liabilities | 1,967 | (19,965) | 22,316 |
| Net cash provided by operating activities | 89,372 | 65,829 | 72,586 |
CONSOLIDATED STATEMENTS OF CASH FLOWS (CONTINUED)
| Year Ended December 31, | |||
|---|---|---|---|
| (dollars in thousands) | 2024 | 2023 | 2022 |
| CASH FLOWS FROM INVESTING ACTIVITIES | |||
| Proceeds from maturities of interest-bearing time deposits with banks | 520 | 249 | 485 |
| Purchase of interest-bearing time deposits with banks | (11) | (509) | — |
| Proceeds from sales of debt securities | 69,174 | 185,280 | — |
| Proceeds from sales and redemptions of equity securities | 58 | — | — |
| Proceeds from paydowns, maturities, and calls of debt securities | 126,340 | 102,625 | 154,166 |
| Purchase of debt securities | (105,147) | (2,640) | (371,631) |
| Purchase of equity securities | (196) | (397) | (51) |
| Purchase of loans | (14,566) | (61,009) | — |
| Net increase in loans | (42,623) | (81,641) | (113,665) |
| Purchase of restricted stock | — | (23,832) | (6,151) |
| Proceeds from redemption of restricted stock | 2,074 | 27,459 | 925 |
| Proceeds from bank owned life insurance | 831 | — | — |
| Purchases of bank premises and equipment | (5,506) | (3,134) | (1,047) |
| Proceeds from sales of bank premises and equipment | 2 | 222 | 27 |
| Proceeds from sales of bank premises held for sale | — | 351 | 1,344 |
| Proceeds from sales of foreclosed assets | 1,396 | 4,093 | 475 |
| Net cash paid for acquisition of Town and Country | — | (14,454) | — |
| Net cash provided by (used in) investing activities | 32,346 | 132,663 | (335,123) |
| CASH FLOWS FROM FINANCING ACTIVITIES | |||
| Net increase (decrease) in deposits | (83,075) | 94,396 | (150,973) |
| Net decrease in repurchase agreements | (13,473) | (639) | (18,175) |
| Net increase (decrease) in short-term Federal Home Loan Bank advances | — | (234,195) | 160,000 |
| Proceeds from long-term Federal Home Loan Bank advances | 907 | — | — |
| Repayment of long-term Federal Home Loan Bank advances | (700) | — | — |
| Taxes paid related to the vesting of restricted stock units | (331) | (181) | (57) |
| Repurchase of common stock | (4,423) | (8,907) | (4,783) |
| Cash dividends and dividend equivalents paid | (24,183) | (21,873) | (18,584) |
| Net cash used in financing activities | (125,278) | (171,399) | (32,572) |
| NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | (3,560) | 27,093 | (295,109) |
| CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR | 141,252 | 114,159 | 409,268 |
| CASH AND CASH EQUIVALENTS AT END OF YEAR | $137,692 | $141,252 | $114,159 |
| SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION | |||
| Cash paid for interest | $64,723 | $32,853 | $6,860 |
| Net cash paid for income taxes | $23,876 | $20,512 | $20,035 |
| SUPPLEMENTAL DISCLOSURES OF NONCASH INVESTING ACTIVITIES | |||
| Transfers of loans to foreclosed assets | $889 | $1,143 | $541 |
| Transfers of bank premises and equipment to bank premises held for sale | $317 | $35 | $— |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.