HBT Financial Earnings Slid In Q1

(RTTNews) - HBT Financial, Inc. (HBT), on Monday reported lower net income in the first quarter compared with the previous year despite higher sales. The decline is due to impacts like the CNB acquisition and AOCI movement.

For the first quarter, net income declined to $11.20 million from $19.08 million in the previous year.

Earnings per share were $0.34 versys $0.60 last year.

On the adjusted basis, net income surged to $22.61 million from $19.25 million in the same periods a year ago.

Adjusted earnings per share were $0.68 versus $0.61 last year.

Net interest income increased to $56.39 million from $48.71 million in the previous year.

Noninterest income also jumped to $10.95 million form $9.31 million in the prior year.

Loans increased to $4.69 billion from $3.46 billion in the previous year.

Deposits came in at $5.82 billion from $4.38 billion in the previous year.

In the pre-market trading, HBT is 0.67% lesser at $27.97 on the Nasdaq.