HBTHIGH SIGNALFINANCIAL10-K

HBT completed a major acquisition of CNB on March 1, 2026, driving a 428% surge in interest expense and significant balance sheet expansion.

The acquisition of CNB represents a transformative event for HBT, substantially increasing the company's scale and complexity. The dramatic interest expense increase suggests significant debt financing or higher-cost funding was used to complete the deal, which will pressure near-term profitability and requires careful monitoring of integration execution and cost synergies.

Comparing 2026-03-06 vs 2025-03-07View on EDGAR →
FINANCIAL ANALYSIS

HBT's financial profile was dramatically altered by the CNB acquisition, with interest expense exploding 428% to $37.9M, indicating substantial debt-financed growth that will pressure margins. Stockholders' equity grew 13% to $615.5M while cash declined 11% to $122.3M, reflecting the capital deployment for the acquisition. The provision for credit losses improved from -$8.1M to -$706K, suggesting better credit quality, but the overall picture shows a company in major transition with significantly higher funding costs that investors must monitor closely for successful integration and return on invested capital.

FINANCIAL STATEMENT CHANGES
Interest Expense
P&L
+428.2%
$7.2M→$37.9M

Interest expense surged 428.2% — significant debt increase or rising rates materially impacting earnings.

Provision for Credit Losses
P&L
+91.3%
-$8.1M→-$706K

Credit loss provisions surged 91.3% — management flagging significant deterioration in loan quality ahead.

Stockholders Equity
Balance Sheet
+13%
$544.6M→$615.5M

Equity base grew 13% — retained earnings accumulation or equity issuance strengthening the balance sheet.

Cash & Equivalents
Balance Sheet
-11.2%
$137.7M→$122.3M

Cash decreased 11.2% — monitor burn rate and upcoming capital needs.

LANGUAGE CHANGES
NEW — 2026-03-06
PRIOR — 2025-03-07
ADDED
As of February 18, 2026, there were 31,431,924 shares outstanding of the registrant s common stock, $0.01 par value.
Forward-looking statements are generally identifiable by use of the words "believe," "may," "will," "should," "could," "expect," "estimate," "intend," "anticipate," "project," "plan," "propose," "seek," "continue," "predict," as well as the negative forms of those words, or similar expressions.
("CNB"); the ultimate timing, outcome and results of integrating the operations of CNB into those of HBT; the effects of the merger with CNB in HBT s future financial condition, results of operations, strategy and plans; the effects of the current U.S.
government shutdown, including the impact of prolonged closures or staffing reductions at government agencies effecting our business; and the ability of the Company to manage the risks associated with the foregoing as well as anticipated.
As of December 31, 2025, we had total assets of $5.1 billion, loans held for investment of $3.5 billion, and total deposits of $4.4 billion.
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REMOVED
As of February 19, 2025, there were 31,559,366 shares outstanding of the registrant s common stock, $0.01 par value.
Forward-looking statements may include statements relating to our plans, strategies and expectations, near-term loan growth, net interest margin, mortgage banking profits, wealth management fees, expenses, asset quality, capital levels, continued earnings, and liquidity.
Forward-looking statements are generally identifiable by use of the words "believe," "may," "will," "should," "could," "continue," "expect," "estimate," "intend," "anticipate," "predict," "project," "plan" or similar expressions.
As of December 31, 2024, we had total assets of $5.0 billion, loans held for investment of $3.5 billion, and total deposits of $4.3 billion.
The core system conversion was successfully completed in April 2023.
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