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SEC filingHBT Financial, Inc. reported net income of $77.0 million for fiscal year 2025, an increase from $71.8 million in 2024. This performance was driven by net interest income of $198.9 million, a 5.3% year-over-year increase, and total noninterest income of $38.2 million. The company's total assets grew to $5.07 billion, with loans net of allowance for credit losses at $3.41 billion and total deposits at $4.36 billion. Net cash provided by operating activities was $85.1 million. The company maintained a strong capital position, with total stockholders' equity of $615.5 million, and was well capitalized under regulatory requirements. A significant forward-looking event is the completed acquisition of CNB Bank Shares, Inc. on March 1, 2026, which is not reflected in the 2025 financials but will increase the company's market density in central Illinois, Chicago MSA, and St. Louis MSA.
HBT Financial, Inc. reported net income of $77.0 million for the fiscal year ended December 31, 2025, compared to $71.8 million in the prior year, representing a 7.3% increase. This result was driven by net interest income of $198.9 million, up from $188.9 million in 2024, and total noninterest income of $38.2 million. Total interest and dividend income was $255.8 million, while total interest expense was $56.9 million. The provision for credit losses was $3.2 million. Total noninterest expense was $129.4 million. The company reported earnings per share (basic and diluted) of $2.00 for 2025, compared to $2.27 in 2024. The weighted average shares of common stock outstanding were 31.5 million.
Total revenue, comprising net interest income and noninterest income, was $237.1 million for FY 2025. Net interest income of $198.9 million was the primary revenue driver, benefiting from interest and dividend income of $255.8 million, partially offset by interest expense of $56.9 million. Key components of interest income included $211.9 million from taxable loans and $31.1 million from taxable debt securities. Noninterest income of $38.2 million included card income of $10.8 million, wealth management fees of $12.1 million, service charges on deposit accounts of $8.0 million, and mortgage servicing income of $4.1 million. The company's revenue streams are diversified across lending, deposit services, and wealth management.
The company's net interest margin, implied by the net interest income of $198.9 million relative to its earning assets, supported profitability. Income before income tax expense was $104.5 million, resulting in a net income margin (net income/total revenue) of approximately 32.5%. The provision for credit losses of $3.2 million represented a modest charge relative to the loan portfolio. Noninterest expense of $129.4 million included salaries of $66.3 million, employee benefits of $13.5 million, and data processing costs of $11.8 million. The efficiency of operations is reflected in the net income growth year-over-year.
Net cash provided by operating activities was $85.1 million for FY 2025, primarily from net income of $77.0 million adjusted for non-cash items. Cash flows from investing activities used $39.6 million, mainly for purchases of debt securities and bank premises, partially offset by proceeds from paydowns of debt securities. Cash flows from financing activities used $60.9 million, due to repayment of subordinated notes, cash dividends paid, and repurchase of common stock. The consolidated balance sheet shows total assets of $5.07 billion, including cash and cash equivalents of $122.3 million, debt securities of $1.27 billion, and loans net of allowance of $3.41 billion. Total liabilities were $4.46 billion, predominantly deposits of $4.36 billion. Stockholders' equity was $615.5 million, with retained earnings of $367.2 million. The company was well capitalized under regulatory requirements.
The company's business strategy focuses on preserving community ties, deploying excess deposit funding into loan growth, maintaining prudent credit underwriting, and pursuing strategic acquisitions. A key subsequent event is the acquisition of CNB Bank Shares, Inc., completed on March 1, 2026, which will enhance market density in central Illinois, Chicago MSA, and St. Louis MSA. As disclosed, CNB had approximately $1.8 billion in total assets as of December 31, 2025. The company faces risks including credit risks from its loan portfolio, interest rate fluctuations, liquidity risks, technology and cybersecurity threats, and regulatory compliance challenges. Management emphasizes a disciplined growth approach and strong risk management to navigate these risks.