HBT Financial Inc. (HBT) Tops Q2 EPS by 4c

HBT Financial Inc. (NASDAQ: HBT) reported Q2 EPS of $0.30, $0.04 better than the analyst estimate of $0.26.

Second Quarter Highlights

• Net income of $7.4 million, or $0.27 per diluted share; return on average assets (ROAA) of 0.86%; return on average stockholders’ equity (ROAE) of 8.56%; and return on average tangible common equity (ROATCE)(1) of 9.29%
• Adjusted net income(1) of $8.2 million; or $0.30 per diluted share, adjusted ROAA(1) of 0.95%; adjusted ROAE(1) of 9.49%; and adjusted ROATCE(1) of 10.29%

Fred L. Drake, Chairman and Chief Executive Officer of HBT Financial, said, “I am proud of our team’s efforts to serve our customers and communities during the challenging circumstances of the last several months. We have worked hard to provide the high service levels our customers have come to expect while prioritizing health and safety. Our lenders continue to work closely with borrowers to find the best solutions to help them manage through this economic downturn. We are pleased to have approved and funded $184 million of Paycheck Protection Program (PPP) loans to 2,245 businesses supporting approximately 24,000 employees.”

“Although our second quarter results were impacted by the low interest rate environment and reserve build, we remained solidly profitable, which is a reflection of the strength and consistency of our franchise. While we remain cautious about the future impact of the pandemic on our borrowers, so far we have not experienced a significant impact on our portfolio. Our delinquent and nonperforming loans decreased during the second quarter and a relatively small number of our borrowers, for whom we provided a COVID-19 related loan modification, are requiring a second modification. Our strong capital and liquidity levels, solid asset quality trends, and attractive deposit base position us well to continue supporting our stakeholders through this crisis,” said Mr. Drake.

For earnings history and earnings-related data on HBT Financial Inc. (HBT) click here.

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