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Investing.com -- HBT Financial, Inc. (NASDAQ:HBT) reported second-quarter earnings that exceeded analyst expectations, driving shares up 2.7% as investors responded positively to the company’s strong profitability metrics despite a slight revenue miss.
The parent company of Heartland Bank and Trust Company posted adjusted earnings per share of $0.63 for the second quarter of 2025, surpassing the analyst consensus of $0.60. Revenue came in at $58.8 million, slightly below the consensus estimate of $59.33 million but up 3.9% from $56.6 million in the same quarter last year. The company’s net interest margin on a tax-equivalent basis improved to 4.19%, an increase of 3 basis points from the previous quarter and 19 basis points YoY.
"During the second quarter of 2025, our team continued to deliver consistently strong earnings with adjusted net income of $19.8 million, or $0.63 per diluted share," said J. Lance Carter, President and Chief Executive Officer of HBT Financial. "Our strong profitability coupled with an improvement in our accumulated other comprehensive income due to lower interest rates resulted in a $0.59 increase in our tangible book value per share to $16.02, an increase of 3.8% for the quarter and 17.4% over the last 12 months."
The bank reported a decrease in loans during the quarter, with total loans outstanding at $3.35 billion as of June 30, down from $3.46 billion at the end of March. This reduction was primarily due to seasonal paydowns on grain elevator lines of credit and higher property sales causing increased payoffs. However, management expects loan growth to return in the third quarter of 2025 due to stronger loan pipelines.
Asset quality remained stable with nonperforming assets at just 0.13% of total assets. The company’s capital position strengthened during the quarter, with the ratio of tangible common equity to tangible assets increasing to 10.21% from 9.73% in the previous quarter.
During the quarter, HBT repurchased 135,997 shares of its common stock at a weighted average price of $21.30, with $12.1 million remaining under its stock repurchase program that runs until January 2026.
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