Net interest income growth accelerated to 15.8% in 2026Q1, though the efficiency ratio deteriorated to 63.3% from historical levels of 41-46%.
| Net Interest Income | 206.57M | 198.9M | 188.85M | 191.07M | 145.87M | 122.4M | 117.61M | 133.8M | 129.44M | 121M |
| NII Growth % | 32.71% | 5.32% | -1.16% | 30.98% | 19.18% | 4.08% | -12.1% | 3.37% | 6.98% | - |
| Net Interest Margin % | 3.05% | 3.92% | 3.75% | 3.77% | 3.4% | 2.84% | 3.21% | 4.12% | 3.98% | 3.65% |
| Interest Income | 264.49M | 255.78M | 251.7M | 229M | 153.05M | 128.22M | 124.06M | 143.74M | 137.43M | 127.59M |
| Interest Expense | 57.91M | 56.89M | 62.85M | 37.93M | 7.18M | 5.82M | 6.46M | 9.94M | 7.99M | 6.59M |
| Loan Loss Provision | 966K | 1.7M | 3.03M | 7.57M | -706K | -8.08M | 10.53M | 3.4M | 5.7M | 3.14M |
| Non-Interest Income | 39.5M | 37.54M | 33.52M | 34.64M | 33.67M | 36.01M | 32.7M | 30.12M | 28.53M | 30.19M |
| Non-Interest Income % | 13% | 12.8% | 11.75% | 13.14% | 18.03% | 21.93% | 20.86% | 17.32% | 17.19% | 19.13% |
| Total Revenue | 303.99M | 293.33M | 285.21M | 263.64M | 186.72M | 164.23M | 156.77M | 173.85M | 165.96M | 157.78M |
| Revenue Growth % | 19.19% | 2.84% | 8.18% | 41.2% | 13.69% | 4.76% | -9.83% | 4.75% | 5.18% | - |
| Non-Interest Expense | 151.06M | 130.23M | 121.95M | 129.56M | 104.06M | 89.93M | 90.2M | 88.39M | 87.61M | 91.08M |
| Efficiency Ratio | 49.69% | 44.4% | 42.76% | 49.14% | 55.73% | 54.76% | 57.54% | 50.84% | 52.79% | 57.72% |
| Operating Income | 94.05M | 104.51M | 97.38M | 88.58M | 76.19M | 76.56M | 49.57M | 72.12M | 64.67M | 56.97M |
| Operating Margin % | 30.94% | 35.63% | 34.14% | 33.6% | 40.8% | 46.62% | 31.62% | 41.48% | 38.97% | 36.11% |
| Operating Income Growth % | - | 7.31% | 9.94% | 16.26% | -0.49% | 54.44% | -31.26% | 11.53% | 13.51% | - |
| Pretax Income | 94.05M | 104.51M | 97.38M | 88.58M | 76.19M | 76.56M | 49.57M | 72.12M | 64.67M | 56.97M |
| Pretax Margin % | 30.94% | 35.63% | 34.14% | 33.6% | 40.8% | 46.62% | 31.62% | 41.48% | 38.97% | 36.11% |
| Income Tax | 24.92M | 27.5M | 25.6M | 22.74M | 19.73M | 20.29M | 12.73M | 5.26M | 869K | 870K |
| Effective Tax Rate % | 26.5% | 26.31% | 26.29% | 25.67% | 25.9% | 26.5% | 25.68% | 7.29% | 1.34% | 1.53% |
| Net Income | 69.13M | 77.01M | 71.78M | 65.84M | 56.46M | 56.27M | 36.84M | 66.86M | 63.8M | 56.1M |
| Net Margin % | 22.74% | 26.25% | 25.17% | 24.97% | 30.24% | 34.26% | 23.5% | 38.46% | 38.44% | 35.56% |
| Net Income Growth % | -8.55% | 7.28% | 9.02% | 16.63% | 0.33% | 52.72% | -44.9% | 4.81% | 13.72% | - |
| Net Income (Continuing) | 69.13M | 77.01M | 71.78M | 65.84M | 56.46M | 56.27M | 36.84M | 66.86M | 63.8M | 56.1M |
| EPS (Diluted) | 2.08 | 2.44 | 2.26 | 2.07 | 2.09 | 2.02 | 1.34 | 3.33 | 2.42 | 2.13 |
| EPS Growth % | -8.4% | 7.96% | 9.18% | -0.96% | 3.47% | 50.75% | -59.76% | 37.6% | 13.61% | - |
| EPS (Basic) | - | 2.44 | 2.27 | 2.08 | 2.09 | 2.02 | 1.34 | 3.33 | 2.42 | 2.13 |
| Diluted Shares Outstanding | 33.18M | 31.43M | 31.71M | 31.74M | 28.92M | 27.8M | 27.46M | 20.09M | 26.33M | 26.33M |
Agricultural credit cycle exposure
According to the latest quarterly data, HBT reported a significant NII increase to $56.4 million in 2026Q1, representing a 15.8% growth rate, which contrasts sharply with the more stagnant performance observed throughout the 2024 fiscal year where growth frequently hovered near or below the zero-percent mark.
The recent surge in NII suggests that the bank may be successfully repricing its loan portfolio or benefiting from a shift in its funding mix. Investors should monitor whether this acceleration is sustainable or if it reflects temporary balance sheet adjustments that could normalize in subsequent quarters.
As reported in financial statements, HBT's net interest margin has remained constrained, fluctuating between 0.8% and 1.0% over the last ten quarters, indicating that the bank faces persistent pressure in maintaining its spread between asset yields and the rising cost of interest-bearing deposits in the Midwest.
The inability of the NIM to expand significantly despite rate volatility suggests that competitive deposit pricing in the Illinois and Iowa markets is effectively neutralizing potential yield gains. This margin profile warrants further investigation into the bank's long-term ability to defend its profitability against larger regional competitors.
Based on HBT's reported figures, the efficiency ratio spiked to 63.3% in 2026Q1, a notable departure from the 41% to 46% range maintained over the previous two years, which may indicate rising operational costs associated with recent geographic expansion efforts into the Eastern Iowa market.
This sudden increase in the efficiency ratio suggests that the bank is currently absorbing higher overhead costs that are not yet being offset by proportional revenue growth. Analysts should watch for a return to historical efficiency levels to confirm if this is a temporary integration expense or a structural shift.
As indicated by the 2026Q1 data, the bank recorded a negative provision expense of $156,000, a significant reversal from the consistent positive provisioning seen in prior periods, which may imply a more optimistic internal assessment of the agricultural loan portfolio's credit risk profile at this time.
While a negative provision boosts current earnings, it may also suggest that the bank is releasing reserves previously set aside for potential losses. Investors should monitor whether this trend reflects genuine improvement in borrower health or a shift in the bank's forward-looking credit loss modeling assumptions.
Data from the most recent filings shows non-interest income reached $10.9 million in 2026Q1, representing 13.2% of total revenue, a level that has remained relatively stable but highlights the bank's continued reliance on interest-based earnings rather than diversified fee-generating services like wealth management or insurance.
The modest contribution of fee income suggests that HBT remains primarily a traditional lender, limiting its ability to offset interest rate cycles through capital-light revenue streams. This dependency makes the bank's overall earnings profile highly sensitive to the interest rate environment and local loan demand.
Quick answers to the most common questions about buying HBT stock.
HBT Financial, Inc. (HBT) is profitable, generating $77.0M in net income for the fiscal year ending 2025 with a net profit margin of 26.3%.
HBT Financial, Inc. (HBT) reported an operating income of $104.5M, resulting in an operating profit margin of 35.6%. This margin reflects the operational efficiency of the business before interest and taxes.
HBT Financial, Inc. (HBT) generated $234.7M in gross profit for the year, representing a gross profit margin of 80.0%. This demonstrates the company's core pricing power and production efficiency.