HBT Financial, Inc. reported first‑quarter 2026 results that included a GAAP net income of $11.2 million and diluted earnings per share of $0.34, a decline from the $18.9 million net income and $0.60 EPS reported in the fourth quarter of 2025. The company’s adjusted net income, which removes one‑time acquisition costs, reached $22.6 million and produced an adjusted EPS of $0.68, a $0.06 (10%) beat over the consensus range of $0.60 to $0.62.
The bank’s balance sheet grew sharply after the March 1 acquisition of CNB Bank and its subsidiary. Total loans stood at $4.69 billion and deposits at $5.80 billion as of March 31, 2026. Non‑performing assets were $14.4 million, or 0.21% of total assets, while the allowance for credit losses remained at 1.29% of total loans. Tangible book value per share was $17.01 and the on‑balance‑sheet liquidity buffer was $967.8 million.
CNB Bank’s acquisition added $1.23 billion in loans and $1.44 billion in deposits, but also generated $15.7 million in one‑time acquisition costs that weighed on GAAP net income. Management highlighted that the acquisition was completed on March 1 and that systems conversions were finished in March, positioning the bank for future growth.
Compared with the prior quarter, HBT’s revenue of $67.33 million was slightly below the consensus estimate of $67.38 million, but revenue net of interest expense ($67.3 million) exceeded the street forecast of $66.9 million. The adjusted EPS beat of $0.68 over the $0.60–$0.62 range underscores the strength of the underlying business after the merger costs were excluded.
CEO J. Lance Carter noted that the CNB acquisition “has positioned us for significant growth in the Midwest” and that “systems conversions were completed on schedule, and we are excited for the opportunities that lie ahead.” He also explained that the tangible book value per share fell 1.1% to $17.01 because of the acquisition, share repurchases, and higher market interest rates, but has risen 10.2% since Q1 2025.
In pre‑market trading, the stock gained about 1.2%, driven by the adjusted EPS beat, the 9‑basis‑point increase in net interest margin to 4.25%, and the bank’s strong asset quality metrics.
The results reinforce HBT’s strategic trajectory: the CNB acquisition expands its footprint and deposit base, the improved net interest margin signals effective pricing, and the solid liquidity and capital position provide a buffer for future growth. Management’s focus on integration and capital discipline suggests confidence in sustaining profitability while pursuing additional opportunities.
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