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1. Company Snapshot

1.a. Company Description

HBT Financial, Inc.operates as the bank holding company for Heartland Bank and Trust Company that provides business, commercial, and retail banking products and services to individuals, businesses, and municipal entities.The company's deposits accounts consist of noninterest-bearing demand deposits, interest-bearing transaction accounts, money market accounts, savings accounts, certificates of deposits, health savings accounts, and individual retirement accounts.


Its loan offering comprises owner and non-owner occupied commercial real estate; construction and land development and multi-family; commercial and industrial; agricultural and farmland; and one-to-four family residential loans, as well as municipal, consumer, and other loans.The company also offers wealth management services, including financial planning to consumers, trusts, and estates; trustee and custodial; investment management; corporate retirement plan consulting and administration; and retail brokerage services.In addition, it provides farmland management, farmland sales, and crop insurance services; and treasury management services, as well as originates and sells residential mortgage loans.


Further, the company offers digital banking services, such as online and mobile banking, and digital payment services, as well as personal financial management tools.It operates through 57 branch locations in Central and Northeastern Illinois and four locations in Eastern Iowa.The company was formerly known as Heartland Bancorp, Inc.


and changed its name to HBT Financial, Inc.in September 2019.HBT Financial, Inc.


was founded in 1920 and is headquartered in Bloomington, Illinois.

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1.b. Last Insights on HBT

HBT Financial's recent performance was driven by strong Q1 2025 earnings, with net income of $19.1 million, or $0.60 per diluted share, surpassing the Zacks Consensus Estimate of $0.57 per share. The company's return on average assets (ROAA) of 1.54% and return on average stockholders' equity (ROAE) of 13.95% demonstrate its strong profitability. Additionally, HBT Financial's asset quality remained exceptional, with nonperforming assets to total assets of 0.11% and net charge-offs to average loans of 0.05% on an annualized basis. The company's net interest margin increased 16 basis points to 4.12%, and its low-cost, stable deposit base and high net interest margin provide a durable competitive advantage.

1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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Is the Options Market Predicting a Spike in HBT Financial Stock?

Oct -30

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Why HBT Financial Stock Cruised to a 4% Gain on Monday

Oct -20

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HBT Financial Attempts To Solve Growth Issues With CNB Bank Shares Merger

Oct -20

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Compared to Estimates, HBT Financial (HBT) Q3 Earnings: A Look at Key Metrics

Oct -20

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HBT Financial (HBT) Surpasses Q3 Earnings and Revenue Estimates

Oct -20

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HBT Financial (HBT) Q3 Earnings on the Horizon: Analysts' Insights on Key Performance Measures

Oct -15

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HBT Financial, Inc. to Announce Third Quarter 2025 Financial Results on October 20, 2025

Oct -10

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HBT Financial: Steady Results Reflected In Valuation (Downgrade)

Jul -22

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (2.00%)

6. Segments

Community Banking

Expected Growth: 2.0%

HBT Financial's Community Banking segment growth of 2.0% is driven by strategic branch expansions, increased commercial lending, and a focus on customer relationships. Additionally, investments in digital banking platforms and targeted marketing initiatives have contributed to the growth. Furthermore, the segment has benefited from a favorable interest rate environment and a strong local economy.

7. Detailed Products

Commercial Banking

Provides financial solutions to businesses, including cash management, lending, and treasury management services.

Wealth Management

Offers investment and wealth management services to individuals, families, and institutions.

Mortgage Banking

Provides mortgage lending services to individuals and families, including purchase and refinance options.

Treasury Management

Offers cash management and treasury services to businesses, including account management and payment processing.

Insurance Services

Provides insurance products and services to individuals and businesses, including life insurance, property insurance, and employee benefits.

8. HBT Financial, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

HBT Financial, Inc. operates in a highly competitive industry, with many substitutes available to customers. However, the company's strong brand recognition and customer loyalty help to mitigate the threat of substitutes.

Bargaining Power Of Customers

HBT Financial, Inc. has a large customer base, which gives customers significant bargaining power. The company's customers have many options and can easily switch to competitors, making it essential for HBT to maintain strong customer relationships.

Bargaining Power Of Suppliers

HBT Financial, Inc. has a diverse supplier base, which reduces the bargaining power of individual suppliers. The company's strong financial position also gives it negotiating power in its dealings with suppliers.

Threat Of New Entrants

While there are barriers to entry in the financial services industry, new entrants can still disrupt the market. HBT Financial, Inc. must continue to innovate and invest in technology to stay ahead of potential new competitors.

Intensity Of Rivalry

The financial services industry is highly competitive, with many established players competing for market share. HBT Financial, Inc. must differentiate itself through its products and services to maintain its market position.

9. SWOT Analysis

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 23.13%
Debt Cost 8.20%
Equity Weight 76.87%
Equity Cost 8.20%
WACC 8.20%
Leverage 30.10%

11. Quality Control: HBT Financial, Inc. passed 4 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
HBT Financial

A-Score: 6.7/10

Value: 6.4

Growth: 4.2

Quality: 7.6

Yield: 7.0

Momentum: 7.0

Volatility: 8.0

1-Year Total Return ->

Stock-Card
Capital Bancorp

A-Score: 6.5/10

Value: 6.8

Growth: 6.3

Quality: 7.0

Yield: 3.0

Momentum: 8.0

Volatility: 8.0

1-Year Total Return ->

Stock-Card
TowneBank

A-Score: 6.1/10

Value: 5.2

Growth: 5.2

Quality: 7.0

Yield: 6.0

Momentum: 5.0

Volatility: 8.3

1-Year Total Return ->

Stock-Card
Amalgamated Financial

A-Score: 6.0/10

Value: 7.6

Growth: 7.2

Quality: 8.2

Yield: 4.0

Momentum: 2.0

Volatility: 6.7

1-Year Total Return ->

Stock-Card
Sierra Bank

A-Score: 5.9/10

Value: 4.4

Growth: 6.2

Quality: 6.2

Yield: 7.0

Momentum: 5.0

Volatility: 6.7

1-Year Total Return ->

Stock-Card
RBB Bank

A-Score: 5.5/10

Value: 8.4

Growth: 5.0

Quality: 5.6

Yield: 6.0

Momentum: 2.0

Volatility: 6.0

1-Year Total Return ->

Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

24.55$

Current Price

24.55$

Potential

-0.00%

Expected Cash-Flows