HBT Financial, Inc. reported a net income of $19.1 million for the first quarter of 2025, a 25% increase from $15.3 million in the same period last year. This growth was driven by a rise in net interest income, which reached $48.7 million, up from $46.7 million in the prior year, primarily due to higher average loan balances and a decrease in deposit costs. The company's diluted earnings per share also increased to $0.60, compared to $0.48 in the first quarter of 2024. Total interest and dividend income rose to $63.1 million, while total interest expense decreased to $14.4 million.
In terms of operational metrics, HBT Financial's total assets grew to $5.1 billion as of March 31, 2025, up from $5.0 billion at the end of 2024. Total deposits increased by $66.3 million to $4.4 billion, reflecting a strong retail banking presence in central Illinois and eastern Iowa. The company maintained a loan-to-deposit ratio of 78.95%, slightly down from 80.27% at the end of the previous year. The allowance for credit losses remained stable at $42.1 million, representing 1.22% of total loans.
Strategically, HBT Financial continues to focus on enhancing its product offerings and expanding its branch network, which now includes 66 locations. The company has also emphasized digital banking services to strengthen customer relationships. Notably, the bank's nonperforming assets decreased to $5.6 million, down from $8.0 million at the end of 2024, indicating improved asset quality. The company reported a nonaccrual loan balance of $5.1 million, which is a reduction from $7.7 million in the previous quarter.
Looking ahead, HBT Financial's management expressed optimism about continued growth, citing expectations for organic loan and deposit growth despite potential economic headwinds. The company is closely monitoring interest rate trends and their impact on net interest income, as well as maintaining a strong capital position to support future growth initiatives. As of March 31, 2025, the company met all regulatory capital requirements, with a total capital ratio of 16.85%.
About HBT Financial, Inc.
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