HBT · HBT Financial, Inc.

HBT Financial's first quarter 2026 results were significantly impacted by the acquisition of CNB Bank Shares, Inc., which closed on March 1, 2026. GAAP net income of $11.2 million ($0.34 per diluted share) included $15.7 million in acquisition-related expenses, primarily data processing and professional fees. Excluding these items, adjusted net income was $22.6 million ($0.68 per diluted share), reflecting strong underlying performance. Net interest income rose 11.6% sequentially to $56.4 million, driven by higher earning asset balances from the merger. Net interest margin expanded 8 basis points to 4.20% (tax-equivalent 4.25%), benefiting from higher asset yields and the sale of the majority of CNB's securities portfolio, which reduced higher-cost funding. Noninterest income increased to $10.9 million, led by wealth management fees. Noninterest expense surged 58.6% to $52.4 million due to acquisition costs; excluding these, core expenses rose $4.7 million from the prior quarter, reflecting higher salaries and benefits from the merger. Asset quality remained strong with nonperforming assets at 0.21% of total assets and net charge-offs of 0.08% annualized. The company repurchased 602,855 shares at a weighted average price of $25.84 during the quarter. Management expressed confidence in the combined company's growth prospects, citing successful systems conversion and a strong balance sheet.