HBT Financial, Inc. Announces Second Quarter 2020 Financial Results

Second Quarter Highlights

Net income of $7.4 million, or $0.27 per diluted share; return on average assets (ROAA) of 0.86%; return on average stockholdersa?? equity (ROAE) of 8.56%; and return on average tangible common equity (ROATCE)(1) of 9.29%

Adjusted net income(1) of $8.2 million; or $0.30 per diluted share, adjusted ROAA(1) of 0.95%; adjusted ROAE(1) of 9.49%; and adjusted ROATCE(1) of 10.29%

(1) See a??Reconciliation of Non-GAAP Financial Measuresa?? below for reconciliation of non-GAAP financial measures to their most comparable GAAP financial measures.BLOOMINGTON, Ill., July 27, 2020 (GLOBE NEWSWIRE) -- HBT Financial, Inc. (NASDAQ: HBT) (the a??Companya?? or a??HBT Financiala??), the holding company for Heartland Bank and Trust Company and State Bank of Lincoln, today reported net income of $7.4A million, or $0.27 diluted earnings per share, for the second quarter of 2020. This compares to net income of $6.2 million, or $0.23 diluted earnings per share, for the first quarter of 2020, and net income of $14.6 million, or $0.81 diluted earnings per share, for the second quarter of 2019.Fred L. Drake, Chairman and Chief Executive Officer of HBT Financial, said, a??I am proud of our teama??s efforts to serve our customers and communities during the challenging circumstances of the last several months. We have worked hard to provide the high service levels our customers have come to expect while prioritizing health and safety. Our lenders continue to work closely with borrowers to find the best solutions to help them manage through this economic downturn. We are pleased to have approved and funded $184 million of Paycheck Protection Program (PPP) loans to 2,245 businesses supporting approximately 24,000 employees.a??a??Although our second quarter results were impacted by the low interest rate environment and reserve build, we remained solidly profitable, which is a reflection of the strength and consistency of our franchise. While we remain cautious about the future impact of the pandemic on our borrowers, so far we have not experienced a significant impact on our portfolio. Our delinquent and nonperforming loans decreased during the second quarter and a relatively small number of our borrowers, for whom we provided a COVID-19 related loan modification, are requiring a second modification. Our strong capital and liquidity levels, solid asset quality trends, and attractive deposit base position us well to continue supporting our stakeholders through this crisis,a?? said Mr. Drake.
See also:
Leave a comment
  • Latest
  • Read
  • Commented
Calendar Content
«    Октябрь 2020    »