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Mar 31, 2021
Hbt Financial Q1 2021 Earnings Report
HBT Financial reported strong financial results for Q1 2021, driven by healthy asset quality and disciplined expense control.
Key Takeaways
HBT Financial reported a net income of $15.2 million, or $0.55 per diluted share, for the first quarter of 2021. The company's performance was driven by continued healthy asset quality, consistent sources of non-interest income, and disciplined expense control.
Reported net income of $15.2 million, or $0.55 per diluted share.
Achieved a return on average assets (ROAA) of 1.64% and a return on average stockholders' equity (ROAE) of 17.01%.
Recorded adjusted net income of $14.0 million, or $0.51 per diluted share.
Maintained healthy asset quality and disciplined expense control.
Forward Guidance
HBT Financial plans to close or consolidate six branches during the third quarter of 2021, expecting annual cost savings of approximately $1.1 million.
Positive Outlook
- Branch rationalization plan will improve operating efficiencies.
- The company plans to continue investing in technology.
- The company aims to offer customers a superior experience through their digital banking platform.
- The company intends to maintain an appropriately sized branch network.
- The company seeks to ensure convenient in-person banking services and a strong presence in their communities.
Challenges Ahead
- Branch rationalization plan is expected to result in approximately $0.8 million of pre-tax nonrecurring costs.
- Costs primarily related to asset impairment charges.
- Costs primarily related to severance payments.
- Challenging environment for revenue growth.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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