HBT Financial reports Q1 adjusted EPS 57c, consensus 55c

Net interest margin and net interest margin remained stable at 3.94% and 3.99%, respectively. J. Lance Carter, President and Chief Executive Officer of HBT Financial, said, “This has been an excellent start to 2024 as we continue to show the strength of our franchise. Our profitability remained very strong with an adjusted ROAA of 1.45% and an adjusted ROATCE of 17.57%. Our net interest margin was stable at 3.99%, as the increase in funding costs has slowed. Deposits, excluding brokered deposits, increased slightly during the quarter while loans had a small decline. The decrease in loans included the payoff of several loans that had interest rates lower than the current yield on cash, so it did not have a material impact on profitability. Credit quality has remained strong, as evidenced by a net recovery for the quarter and nonperforming loans to total assets still being near a historic low. Despite an increase in interest rates having a negative impact on accumulated other comprehensive income (loss) during the quarter, we saw increases to all capital ratios and an increase to tangible book value per share by $0.29. Tangible book value per share has now grown by $1.74, or 15.2%, since March 31, 2023.”