10-Q 1 hbt-20230930.htm 10-Q hbt-20230930
000077521512-312023Q3falsehttp://fasb.org/us-gaap/2023#AccountingStandardsUpdate201613Memberhttp://fasb.org/us-gaap/2023#NoninterestIncomeOtherOperatingIncomehttp://fasb.org/us-gaap/2023#NoninterestIncomeOtherOperatingIncomehttp://fasb.org/us-gaap/2023#NoninterestIncomeOtherOperatingIncomehttp://fasb.org/us-gaap/2023#NoninterestIncomeOtherOperatingIncomehttp://fasb.org/us-gaap/2023#NoninterestIncomeOtherOperatingIncomehttp://fasb.org/us-gaap/2023#NoninterestIncomeOtherOperatingIncomehttp://fasb.org/us-gaap/2023#NoninterestIncomeOtherOperatingIncomehttp://fasb.org/us-gaap/2023#NoninterestIncomeOtherOperatingIncomeP4Yhttp://fasb.org/us-gaap/2023#ValuationTechniqueDiscountedCashFlowMemberhttp://fasb.org/us-gaap/2023#ValuationTechniqueDiscountedCashFlowMemberhttp://hbtbank.com/20230930#AppraisalAdjustmentsMemberhttp://hbtbank.com/20230930#AppraisalAdjustmentsMemberhttp://hbtbank.com/20230930#AppraisalAdjustmentsMemberhttp://hbtbank.com/20230930#AppraisalAdjustmentsMemberhttp://hbtbank.com/20230930#AppraisalAdjustmentsMemberhttp://hbtbank.com/20230930#AppraisalAdjustmentsMember00007752152023-01-012023-09-3000007752152023-10-24xbrli:shares00007752152023-09-30iso4217:USD00007752152022-12-31iso4217:USDxbrli:shares00007752152023-07-012023-09-3000007752152022-07-012022-09-3000007752152022-01-012022-09-300000775215hbt:CardIncomeMember2023-07-012023-09-300000775215hbt:CardIncomeMember2022-07-012022-09-300000775215hbt:CardIncomeMember2023-01-012023-09-300000775215hbt:CardIncomeMember2022-01-012022-09-300000775215hbt:WealthManagementFeesMember2023-07-012023-09-300000775215hbt:WealthManagementFeesMember2022-07-012022-09-300000775215hbt:WealthManagementFeesMember2023-01-012023-09-300000775215hbt:WealthManagementFeesMember2022-01-012022-09-300000775215hbt:ServiceChargesOnDepositAccountsMember2023-07-012023-09-300000775215hbt:ServiceChargesOnDepositAccountsMember2022-07-012022-09-300000775215hbt:ServiceChargesOnDepositAccountsMember2023-01-012023-09-300000775215hbt:ServiceChargesOnDepositAccountsMember2022-01-012022-09-300000775215us-gaap:CommonStockMember2023-06-300000775215us-gaap:AdditionalPaidInCapitalMember2023-06-300000775215us-gaap:RetainedEarningsMember2023-06-300000775215us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-06-300000775215us-gaap:TreasuryStockCommonMember2023-06-3000007752152023-06-300000775215us-gaap:RetainedEarningsMember2023-07-012023-09-300000775215us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-07-012023-09-300000775215us-gaap:AdditionalPaidInCapitalMember2023-07-012023-09-300000775215us-gaap:CommonStockMember2023-07-012023-09-300000775215us-gaap:TreasuryStockCommonMember2023-07-012023-09-300000775215us-gaap:CommonStockMember2023-09-300000775215us-gaap:AdditionalPaidInCapitalMember2023-09-300000775215us-gaap:RetainedEarningsMember2023-09-300000775215us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-09-300000775215us-gaap:TreasuryStockCommonMember2023-09-300000775215us-gaap:CommonStockMember2022-06-300000775215us-gaap:AdditionalPaidInCapitalMember2022-06-300000775215us-gaap:RetainedEarningsMember2022-06-300000775215us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-06-300000775215us-gaap:TreasuryStockCommonMember2022-06-3000007752152022-06-300000775215us-gaap:RetainedEarningsMember2022-07-012022-09-300000775215us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-07-012022-09-300000775215us-gaap:AdditionalPaidInCapitalMember2022-07-012022-09-300000775215us-gaap:CommonStockMember2022-07-012022-09-300000775215us-gaap:TreasuryStockCommonMember2022-07-012022-09-300000775215us-gaap:CommonStockMember2022-09-300000775215us-gaap:AdditionalPaidInCapitalMember2022-09-300000775215us-gaap:RetainedEarningsMember2022-09-300000775215us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-09-300000775215us-gaap:TreasuryStockCommonMember2022-09-3000007752152022-09-300000775215us-gaap:CommonStockMember2022-12-310000775215us-gaap:AdditionalPaidInCapitalMember2022-12-310000775215us-gaap:RetainedEarningsMember2022-12-310000775215us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-12-310000775215us-gaap:TreasuryStockCommonMember2022-12-310000775215srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:RetainedEarningsMember2022-12-310000775215srt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2022-12-310000775215us-gaap:RetainedEarningsMember2023-01-012023-09-300000775215us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-01-012023-09-300000775215us-gaap:AdditionalPaidInCapitalMember2023-01-012023-09-300000775215us-gaap:CommonStockMember2023-01-012023-09-300000775215us-gaap:TreasuryStockCommonMember2023-01-012023-09-300000775215us-gaap:CommonStockMember2021-12-310000775215us-gaap:AdditionalPaidInCapitalMember2021-12-310000775215us-gaap:RetainedEarningsMember2021-12-310000775215us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-12-310000775215us-gaap:TreasuryStockCommonMember2021-12-3100007752152021-12-310000775215us-gaap:RetainedEarningsMember2022-01-012022-09-300000775215us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-01-012022-09-300000775215us-gaap:AdditionalPaidInCapitalMember2022-01-012022-09-300000775215us-gaap:CommonStockMember2022-01-012022-09-300000775215us-gaap:TreasuryStockCommonMember2022-01-012022-09-30hbt:segment0000775215srt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2023-01-010000775215hbt:CommercialAndIndustrialMember2022-12-310000775215srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberhbt:CommercialAndIndustrialMember2023-01-010000775215srt:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMemberhbt:CommercialAndIndustrialMember2023-01-010000775215hbt:CommercialRealEstateOwnerOccupiedMember2022-12-310000775215srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberhbt:CommercialRealEstateOwnerOccupiedMember2023-01-010000775215hbt:CommercialRealEstateOwnerOccupiedMembersrt:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMember2023-01-010000775215hbt:CommercialRealEstateNonOwnerOccupiedMember2022-12-310000775215hbt:CommercialRealEstateNonOwnerOccupiedMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2023-01-010000775215hbt:CommercialRealEstateNonOwnerOccupiedMembersrt:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMember2023-01-010000775215hbt:ConstructionAndLandDevelopmentMember2022-12-310000775215srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberhbt:ConstructionAndLandDevelopmentMember2023-01-010000775215hbt:ConstructionAndLandDevelopmentMembersrt:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMember2023-01-010000775215hbt:MultiFamilyLoansMember2022-12-310000775215srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberhbt:MultiFamilyLoansMember2023-01-010000775215hbt:MultiFamilyLoansMembersrt:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMember2023-01-010000775215hbt:OneToFourFamilyResidentialMember2022-12-310000775215hbt:OneToFourFamilyResidentialMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2023-01-010000775215hbt:OneToFourFamilyResidentialMembersrt:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMember2023-01-010000775215hbt:AgriculturalAndFarmlandMember2022-12-310000775215srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberhbt:AgriculturalAndFarmlandMember2023-01-010000775215hbt:AgriculturalAndFarmlandMembersrt:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMember2023-01-010000775215hbt:MunicipalConsumerAndOtherMember2022-12-310000775215srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberhbt:MunicipalConsumerAndOtherMember2023-01-010000775215hbt:MunicipalConsumerAndOtherMembersrt:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMember2023-01-010000775215srt:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMember2023-01-010000775215us-gaap:UnfundedLoanCommitmentMember2022-12-310000775215srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:UnfundedLoanCommitmentMember2023-01-010000775215us-gaap:UnfundedLoanCommitmentMembersrt:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMember2023-01-010000775215srt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2023-01-012023-01-010000775215hbt:TownAndCountryFinancialCorporationMember2023-02-01xbrli:pure0000775215hbt:TownAndCountryFinancialCorporationMember2023-02-012023-02-010000775215hbt:TownAndCountryFinancialCorporationMember2023-01-012023-09-300000775215hbt:TownAndCountryFinancialCorporationMember2023-07-012023-09-300000775215hbt:TownAndCountryFinancialCorporationMember2022-07-012022-09-300000775215hbt:TownAndCountryFinancialCorporationMember2022-01-012022-09-300000775215us-gaap:USTreasurySecuritiesMember2023-09-300000775215us-gaap:USGovernmentAgenciesDebtSecuritiesMember2023-09-300000775215us-gaap:MunicipalBondsMember2023-09-300000775215us-gaap:ResidentialMortgageBackedSecuritiesMember2023-09-300000775215us-gaap:CommercialMortgageBackedSecuritiesMember2023-09-300000775215us-gaap:CorporateDebtSecuritiesMember2023-09-300000775215us-gaap:USTreasurySecuritiesMember2022-12-310000775215us-gaap:USGovernmentAgenciesDebtSecuritiesMember2022-12-310000775215us-gaap:MunicipalBondsMember2022-12-310000775215us-gaap:ResidentialMortgageBackedSecuritiesMember2022-12-310000775215us-gaap:CommercialMortgageBackedSecuritiesMember2022-12-310000775215us-gaap:CorporateDebtSecuritiesMember2022-12-310000775215us-gaap:USGovernmentAgenciesDebtSecuritiesMemberhbt:DebtSecuritiesTransferredMember2022-03-310000775215hbt:DebtSecuritiesTransferredMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2022-03-310000775215hbt:DebtSecuritiesTransferredMemberus-gaap:CommercialMortgageBackedSecuritiesMember2022-03-310000775215hbt:DebtSecuritiesTransferredMember2022-03-310000775215us-gaap:AssetPledgedAsCollateralWithoutRightMember2023-09-300000775215us-gaap:AssetPledgedAsCollateralWithoutRightMember2022-12-31hbt:security0000775215us-gaap:MunicipalBondsMember2023-01-012023-09-300000775215us-gaap:CorporateDebtSecuritiesMember2023-07-012023-09-300000775215hbt:CommercialAndIndustrialMember2023-09-300000775215hbt:CommercialRealEstateOwnerOccupiedMember2023-09-300000775215hbt:CommercialRealEstateNonOwnerOccupiedMember2023-09-300000775215hbt:ConstructionAndLandDevelopmentMember2023-09-300000775215hbt:MultiFamilyLoansMember2023-09-300000775215hbt:OneToFourFamilyResidentialMember2023-09-300000775215hbt:AgriculturalAndFarmlandMember2023-09-300000775215hbt:MunicipalConsumerAndOtherMember2023-09-300000775215hbt:PaycheckProtectionProgramLoansMemberhbt:CommercialAndIndustrialMember2023-09-300000775215hbt:PaycheckProtectionProgramLoansMemberhbt:CommercialAndIndustrialMember2022-12-310000775215hbt:CommercialAndIndustrialMember2023-06-300000775215hbt:CommercialRealEstateOwnerOccupiedMember2023-06-300000775215hbt:CommercialRealEstateNonOwnerOccupiedMember2023-06-300000775215hbt:ConstructionAndLandDevelopmentMember2023-06-300000775215hbt:MultiFamilyLoansMember2023-06-300000775215hbt:OneToFourFamilyResidentialMember2023-06-300000775215hbt:AgriculturalAndFarmlandMember2023-06-300000775215hbt:MunicipalConsumerAndOtherMember2023-06-300000775215hbt:CommercialAndIndustrialMember2023-07-012023-09-300000775215hbt:CommercialRealEstateOwnerOccupiedMember2023-07-012023-09-300000775215hbt:CommercialRealEstateNonOwnerOccupiedMember2023-07-012023-09-300000775215hbt:ConstructionAndLandDevelopmentMember2023-07-012023-09-300000775215hbt:MultiFamilyLoansMember2023-07-012023-09-300000775215hbt:OneToFourFamilyResidentialMember2023-07-012023-09-300000775215hbt:AgriculturalAndFarmlandMember2023-07-012023-09-300000775215hbt:MunicipalConsumerAndOtherMember2023-07-012023-09-300000775215hbt:CommercialAndIndustrialMember2022-06-300000775215hbt:CommercialRealEstateOwnerOccupiedMember2022-06-300000775215hbt:CommercialRealEstateNonOwnerOccupiedMember2022-06-300000775215hbt:ConstructionAndLandDevelopmentMember2022-06-300000775215hbt:MultiFamilyLoansMember2022-06-300000775215hbt:OneToFourFamilyResidentialMember2022-06-300000775215hbt:AgriculturalAndFarmlandMember2022-06-300000775215hbt:MunicipalConsumerAndOtherMember2022-06-300000775215hbt:CommercialAndIndustrialMember2022-07-012022-09-300000775215hbt:CommercialRealEstateOwnerOccupiedMember2022-07-012022-09-300000775215hbt:CommercialRealEstateNonOwnerOccupiedMember2022-07-012022-09-300000775215hbt:ConstructionAndLandDevelopmentMember2022-07-012022-09-300000775215hbt:MultiFamilyLoansMember2022-07-012022-09-300000775215hbt:OneToFourFamilyResidentialMember2022-07-012022-09-300000775215hbt:AgriculturalAndFarmlandMember2022-07-012022-09-300000775215hbt:MunicipalConsumerAndOtherMember2022-07-012022-09-300000775215hbt:CommercialAndIndustrialMember2022-09-300000775215hbt:CommercialRealEstateOwnerOccupiedMember2022-09-300000775215hbt:CommercialRealEstateNonOwnerOccupiedMember2022-09-300000775215hbt:ConstructionAndLandDevelopmentMember2022-09-300000775215hbt:MultiFamilyLoansMember2022-09-300000775215hbt:OneToFourFamilyResidentialMember2022-09-300000775215hbt:AgriculturalAndFarmlandMember2022-09-300000775215hbt:MunicipalConsumerAndOtherMember2022-09-300000775215srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberhbt:CommercialAndIndustrialMember2023-09-300000775215srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberhbt:CommercialRealEstateOwnerOccupiedMember2023-09-300000775215hbt:CommercialRealEstateNonOwnerOccupiedMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2023-09-300000775215srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberhbt:ConstructionAndLandDevelopmentMember2023-09-300000775215srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberhbt:MultiFamilyLoansMember2023-09-300000775215hbt:OneToFourFamilyResidentialMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2023-09-300000775215srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberhbt:AgriculturalAndFarmlandMember2023-09-300000775215srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberhbt:MunicipalConsumerAndOtherMember2023-09-300000775215srt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2023-09-300000775215hbt:CommercialAndIndustrialMember2023-01-012023-09-300000775215hbt:CommercialRealEstateOwnerOccupiedMember2023-01-012023-09-300000775215hbt:CommercialRealEstateNonOwnerOccupiedMember2023-01-012023-09-300000775215hbt:ConstructionAndLandDevelopmentMember2023-01-012023-09-300000775215hbt:MultiFamilyLoansMember2023-01-012023-09-300000775215hbt:OneToFourFamilyResidentialMember2023-01-012023-09-300000775215hbt:AgriculturalAndFarmlandMember2023-01-012023-09-300000775215hbt:MunicipalConsumerAndOtherMember2023-01-012023-09-300000775215hbt:CommercialAndIndustrialMember2021-12-310000775215hbt:CommercialRealEstateOwnerOccupiedMember2021-12-310000775215hbt:CommercialRealEstateNonOwnerOccupiedMember2021-12-310000775215hbt:ConstructionAndLandDevelopmentMember2021-12-310000775215hbt:MultiFamilyLoansMember2021-12-310000775215hbt:OneToFourFamilyResidentialMember2021-12-310000775215hbt:AgriculturalAndFarmlandMember2021-12-310000775215hbt:MunicipalConsumerAndOtherMember2021-12-310000775215hbt:CommercialAndIndustrialMember2022-01-012022-09-300000775215hbt:CommercialRealEstateOwnerOccupiedMember2022-01-012022-09-300000775215hbt:CommercialRealEstateNonOwnerOccupiedMember2022-01-012022-09-300000775215hbt:ConstructionAndLandDevelopmentMember2022-01-012022-09-300000775215hbt:MultiFamilyLoansMember2022-01-012022-09-300000775215hbt:OneToFourFamilyResidentialMember2022-01-012022-09-300000775215hbt:AgriculturalAndFarmlandMember2022-01-012022-09-300000775215hbt:MunicipalConsumerAndOtherMember2022-01-012022-09-300000775215us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMemberhbt:CommercialAndIndustrialMember2022-12-310000775215us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMemberhbt:CommercialRealEstateOwnerOccupiedMember2022-12-310000775215us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMemberhbt:CommercialRealEstateNonOwnerOccupiedMember2022-12-310000775215us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMemberhbt:ConstructionAndLandDevelopmentMember2022-12-310000775215us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMemberhbt:MultiFamilyLoansMember2022-12-310000775215us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMemberhbt:OneToFourFamilyResidentialMember2022-12-310000775215us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMemberhbt:AgriculturalAndFarmlandMember2022-12-310000775215us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMemberhbt:MunicipalConsumerAndOtherMember2022-12-310000775215us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember2022-12-310000775215us-gaap:RealEstateMemberhbt:CommercialAndIndustrialMember2023-09-300000775215us-gaap:AutomobilesMemberhbt:CommercialAndIndustrialMember2023-09-300000775215hbt:OtherPrimaryCollateralMemberhbt:CommercialAndIndustrialMember2023-09-300000775215hbt:CollateralDependentImpairedLoansMemberhbt:CommercialAndIndustrialMember2023-09-300000775215hbt:CommercialRealEstateOwnerOccupiedMemberus-gaap:RealEstateMember2023-09-300000775215us-gaap:AutomobilesMemberhbt:CommercialRealEstateOwnerOccupiedMember2023-09-300000775215hbt:CommercialRealEstateOwnerOccupiedMemberhbt:OtherPrimaryCollateralMember2023-09-300000775215hbt:CollateralDependentImpairedLoansMemberhbt:CommercialRealEstateOwnerOccupiedMember2023-09-300000775215hbt:CommercialRealEstateNonOwnerOccupiedMemberus-gaap:RealEstateMember2023-09-300000775215us-gaap:AutomobilesMemberhbt:CommercialRealEstateNonOwnerOccupiedMember2023-09-300000775215hbt:CommercialRealEstateNonOwnerOccupiedMemberhbt:OtherPrimaryCollateralMember2023-09-300000775215hbt:CommercialRealEstateNonOwnerOccupiedMemberhbt:CollateralDependentImpairedLoansMember2023-09-300000775215us-gaap:RealEstateMemberhbt:ConstructionAndLandDevelopmentMember2023-09-300000775215us-gaap:AutomobilesMemberhbt:ConstructionAndLandDevelopmentMember2023-09-300000775215hbt:OtherPrimaryCollateralMemberhbt:ConstructionAndLandDevelopmentMember2023-09-300000775215hbt:CollateralDependentImpairedLoansMemberhbt:ConstructionAndLandDevelopmentMember2023-09-300000775215us-gaap:RealEstateMemberhbt:MultiFamilyLoansMember2023-09-300000775215us-gaap:AutomobilesMemberhbt:MultiFamilyLoansMember2023-09-300000775215hbt:MultiFamilyLoansMemberhbt:OtherPrimaryCollateralMember2023-09-300000775215hbt:CollateralDependentImpairedLoansMemberhbt:MultiFamilyLoansMember2023-09-300000775215hbt:OneToFourFamilyResidentialMemberus-gaap:RealEstateMember2023-09-300000775215us-gaap:AutomobilesMemberhbt:OneToFourFamilyResidentialMember2023-09-300000775215hbt:OneToFourFamilyResidentialMemberhbt:OtherPrimaryCollateralMember2023-09-300000775215hbt:OneToFourFamilyResidentialMemberhbt:CollateralDependentImpairedLoansMember2023-09-300000775215hbt:AgriculturalAndFarmlandMemberus-gaap:RealEstateMember2023-09-300000775215us-gaap:AutomobilesMemberhbt:AgriculturalAndFarmlandMember2023-09-300000775215hbt:AgriculturalAndFarmlandMemberhbt:OtherPrimaryCollateralMember2023-09-300000775215hbt:AgriculturalAndFarmlandMemberhbt:CollateralDependentImpairedLoansMember2023-09-300000775215hbt:MunicipalConsumerAndOtherMemberus-gaap:RealEstateMember2023-09-300000775215us-gaap:AutomobilesMemberhbt:MunicipalConsumerAndOtherMember2023-09-300000775215hbt:MunicipalConsumerAndOtherMemberhbt:OtherPrimaryCollateralMember2023-09-300000775215hbt:CollateralDependentImpairedLoansMemberhbt:MunicipalConsumerAndOtherMember2023-09-300000775215us-gaap:RealEstateMember2023-09-300000775215us-gaap:AutomobilesMember2023-09-300000775215hbt:OtherPrimaryCollateralMember2023-09-300000775215hbt:CollateralDependentImpairedLoansMember2023-09-300000775215us-gaap:FinancialAssetNotPastDueMemberhbt:LoansOnWhichInterestIsAccruedMemberhbt:CommercialAndIndustrialMember2023-09-300000775215hbt:LoansOnWhichInterestIsAccruedMemberhbt:FinancingReceivables30To89DaysPastDueMemberhbt:CommercialAndIndustrialMember2023-09-300000775215us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberhbt:LoansOnWhichInterestIsAccruedMemberhbt:CommercialAndIndustrialMember2023-09-300000775215us-gaap:FinancialAssetNotPastDueMemberhbt:CommercialRealEstateOwnerOccupiedMemberhbt:LoansOnWhichInterestIsAccruedMember2023-09-300000775215hbt:CommercialRealEstateOwnerOccupiedMemberhbt:LoansOnWhichInterestIsAccruedMemberhbt:FinancingReceivables30To89DaysPastDueMember2023-09-300000775215us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberhbt:CommercialRealEstateOwnerOccupiedMemberhbt:LoansOnWhichInterestIsAccruedMember2023-09-300000775215us-gaap:FinancialAssetNotPastDueMemberhbt:CommercialRealEstateNonOwnerOccupiedMemberhbt:LoansOnWhichInterestIsAccruedMember2023-09-300000775215hbt:CommercialRealEstateNonOwnerOccupiedMemberhbt:LoansOnWhichInterestIsAccruedMemberhbt:FinancingReceivables30To89DaysPastDueMember2023-09-300000775215hbt:CommercialRealEstateNonOwnerOccupiedMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberhbt:LoansOnWhichInterestIsAccruedMember2023-09-300000775215us-gaap:FinancialAssetNotPastDueMemberhbt:LoansOnWhichInterestIsAccruedMemberhbt:ConstructionAndLandDevelopmentMember2023-09-300000775215hbt:LoansOnWhichInterestIsAccruedMemberhbt:FinancingReceivables30To89DaysPastDueMemberhbt:ConstructionAndLandDevelopmentMember2023-09-300000775215us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberhbt:LoansOnWhichInterestIsAccruedMemberhbt:ConstructionAndLandDevelopmentMember2023-09-300000775215us-gaap:FinancialAssetNotPastDueMemberhbt:MultiFamilyLoansMemberhbt:LoansOnWhichInterestIsAccruedMember2023-09-300000775215hbt:MultiFamilyLoansMemberhbt:LoansOnWhichInterestIsAccruedMemberhbt:FinancingReceivables30To89DaysPastDueMember2023-09-300000775215us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberhbt:MultiFamilyLoansMemberhbt:LoansOnWhichInterestIsAccruedMember2023-09-300000775215us-gaap:FinancialAssetNotPastDueMemberhbt:OneToFourFamilyResidentialMemberhbt:LoansOnWhichInterestIsAccruedMember2023-09-300000775215hbt:OneToFourFamilyResidentialMemberhbt:LoansOnWhichInterestIsAccruedMemberhbt:FinancingReceivables30To89DaysPastDueMember2023-09-300000775215hbt:OneToFourFamilyResidentialMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberhbt:LoansOnWhichInterestIsAccruedMember2023-09-300000775215us-gaap:FinancialAssetNotPastDueMemberhbt:AgriculturalAndFarmlandMemberhbt:LoansOnWhichInterestIsAccruedMember2023-09-300000775215hbt:AgriculturalAndFarmlandMemberhbt:LoansOnWhichInterestIsAccruedMemberhbt:FinancingReceivables30To89DaysPastDueMember2023-09-300000775215us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberhbt:AgriculturalAndFarmlandMemberhbt:LoansOnWhichInterestIsAccruedMember2023-09-300000775215us-gaap:FinancialAssetNotPastDueMemberhbt:MunicipalConsumerAndOtherMemberhbt:LoansOnWhichInterestIsAccruedMember2023-09-300000775215hbt:MunicipalConsumerAndOtherMemberhbt:LoansOnWhichInterestIsAccruedMemberhbt:FinancingReceivables30To89DaysPastDueMember2023-09-300000775215us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberhbt:MunicipalConsumerAndOtherMemberhbt:LoansOnWhichInterestIsAccruedMember2023-09-300000775215us-gaap:FinancialAssetNotPastDueMemberhbt:LoansOnWhichInterestIsAccruedMember2023-09-300000775215hbt:LoansOnWhichInterestIsAccruedMemberhbt:FinancingReceivables30To89DaysPastDueMember2023-09-300000775215us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberhbt:LoansOnWhichInterestIsAccruedMember2023-09-300000775215us-gaap:FinancialAssetNotPastDueMemberhbt:LoansOnWhichInterestIsAccruedMemberhbt:CommercialAndIndustrialMember2022-12-310000775215hbt:LoansOnWhichInterestIsAccruedMemberhbt:FinancingReceivables30To89DaysPastDueMemberhbt:CommercialAndIndustrialMember2022-12-310000775215us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberhbt:LoansOnWhichInterestIsAccruedMemberhbt:CommercialAndIndustrialMember2022-12-310000775215us-gaap:FinancialAssetNotPastDueMemberhbt:CommercialRealEstateOwnerOccupiedMemberhbt:LoansOnWhichInterestIsAccruedMember2022-12-310000775215hbt:CommercialRealEstateOwnerOccupiedMemberhbt:LoansOnWhichInterestIsAccruedMemberhbt:FinancingReceivables30To89DaysPastDueMember2022-12-310000775215us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberhbt:CommercialRealEstateOwnerOccupiedMemberhbt:LoansOnWhichInterestIsAccruedMember2022-12-310000775215us-gaap:FinancialAssetNotPastDueMemberhbt:CommercialRealEstateNonOwnerOccupiedMemberhbt:LoansOnWhichInterestIsAccruedMember2022-12-310000775215hbt:CommercialRealEstateNonOwnerOccupiedMemberhbt:LoansOnWhichInterestIsAccruedMemberhbt:FinancingReceivables30To89DaysPastDueMember2022-12-310000775215hbt:CommercialRealEstateNonOwnerOccupiedMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberhbt:LoansOnWhichInterestIsAccruedMember2022-12-310000775215us-gaap:FinancialAssetNotPastDueMemberhbt:LoansOnWhichInterestIsAccruedMemberhbt:ConstructionAndLandDevelopmentMember2022-12-310000775215hbt:LoansOnWhichInterestIsAccruedMemberhbt:FinancingReceivables30To89DaysPastDueMemberhbt:ConstructionAndLandDevelopmentMember2022-12-310000775215us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberhbt:LoansOnWhichInterestIsAccruedMemberhbt:ConstructionAndLandDevelopmentMember2022-12-310000775215us-gaap:FinancialAssetNotPastDueMemberhbt:MultiFamilyLoansMemberhbt:LoansOnWhichInterestIsAccruedMember2022-12-310000775215hbt:MultiFamilyLoansMemberhbt:LoansOnWhichInterestIsAccruedMemberhbt:FinancingReceivables30To89DaysPastDueMember2022-12-310000775215us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberhbt:MultiFamilyLoansMemberhbt:LoansOnWhichInterestIsAccruedMember2022-12-310000775215us-gaap:FinancialAssetNotPastDueMemberhbt:OneToFourFamilyResidentialMemberhbt:LoansOnWhichInterestIsAccruedMember2022-12-310000775215hbt:OneToFourFamilyResidentialMemberhbt:LoansOnWhichInterestIsAccruedMemberhbt:FinancingReceivables30To89DaysPastDueMember2022-12-310000775215hbt:OneToFourFamilyResidentialMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberhbt:LoansOnWhichInterestIsAccruedMember2022-12-310000775215us-gaap:FinancialAssetNotPastDueMemberhbt:AgriculturalAndFarmlandMemberhbt:LoansOnWhichInterestIsAccruedMember2022-12-310000775215hbt:AgriculturalAndFarmlandMemberhbt:LoansOnWhichInterestIsAccruedMemberhbt:FinancingReceivables30To89DaysPastDueMember2022-12-310000775215us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberhbt:AgriculturalAndFarmlandMemberhbt:LoansOnWhichInterestIsAccruedMember2022-12-310000775215us-gaap:FinancialAssetNotPastDueMemberhbt:MunicipalConsumerAndOtherMemberhbt:LoansOnWhichInterestIsAccruedMember2022-12-310000775215hbt:MunicipalConsumerAndOtherMemberhbt:LoansOnWhichInterestIsAccruedMemberhbt:FinancingReceivables30To89DaysPastDueMember2022-12-310000775215us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberhbt:MunicipalConsumerAndOtherMemberhbt:LoansOnWhichInterestIsAccruedMember2022-12-310000775215us-gaap:FinancialAssetNotPastDueMemberhbt:LoansOnWhichInterestIsAccruedMember2022-12-310000775215hbt:LoansOnWhichInterestIsAccruedMemberhbt:FinancingReceivables30To89DaysPastDueMember2022-12-310000775215us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberhbt:LoansOnWhichInterestIsAccruedMember2022-12-310000775215us-gaap:PassMemberhbt:CommercialAndIndustrialMember2023-09-300000775215hbt:CommercialAndIndustrialMemberhbt:PassWatchMember2023-09-300000775215us-gaap:SubstandardMemberhbt:CommercialAndIndustrialMember2023-09-300000775215us-gaap:DoubtfulMemberhbt:CommercialAndIndustrialMember2023-09-300000775215us-gaap:PassMemberhbt:CommercialRealEstateOwnerOccupiedMember2023-09-300000775215hbt:CommercialRealEstateOwnerOccupiedMemberhbt:PassWatchMember2023-09-300000775215us-gaap:SubstandardMemberhbt:CommercialRealEstateOwnerOccupiedMember2023-09-300000775215hbt:CommercialRealEstateOwnerOccupiedMemberus-gaap:DoubtfulMember2023-09-300000775215hbt:CommercialRealEstateNonOwnerOccupiedMemberus-gaap:PassMember2023-09-300000775215hbt:CommercialRealEstateNonOwnerOccupiedMemberhbt:PassWatchMember2023-09-300000775215hbt:CommercialRealEstateNonOwnerOccupiedMemberus-gaap:SubstandardMember2023-09-300000775215hbt:CommercialRealEstateNonOwnerOccupiedMemberus-gaap:DoubtfulMember2023-09-300000775215us-gaap:PassMemberhbt:ConstructionAndLandDevelopmentMember2023-09-300000775215hbt:ConstructionAndLandDevelopmentMemberhbt:PassWatchMember2023-09-300000775215us-gaap:SubstandardMemberhbt:ConstructionAndLandDevelopmentMember2023-09-300000775215us-gaap:DoubtfulMemberhbt:ConstructionAndLandDevelopmentMember2023-09-300000775215us-gaap:PassMemberhbt:MultiFamilyLoansMember2023-09-300000775215hbt:MultiFamilyLoansMemberhbt:PassWatchMember2023-09-300000775215us-gaap:SubstandardMemberhbt:MultiFamilyLoansMember2023-09-300000775215hbt:MultiFamilyLoansMemberus-gaap:DoubtfulMember2023-09-300000775215hbt:OneToFourFamilyResidentialMemberus-gaap:PassMember2023-09-300000775215hbt:OneToFourFamilyResidentialMemberhbt:PassWatchMember2023-09-300000775215hbt:OneToFourFamilyResidentialMemberus-gaap:SubstandardMember2023-09-300000775215hbt:OneToFourFamilyResidentialMemberus-gaap:DoubtfulMember2023-09-300000775215hbt:AgriculturalAndFarmlandMemberus-gaap:PassMember2023-09-300000775215hbt:AgriculturalAndFarmlandMemberhbt:PassWatchMember2023-09-300000775215us-gaap:SubstandardMemberhbt:AgriculturalAndFarmlandMember2023-09-300000775215hbt:AgriculturalAndFarmlandMemberus-gaap:DoubtfulMember2023-09-300000775215us-gaap:PassMemberhbt:MunicipalConsumerAndOtherMember2023-09-300000775215hbt:MunicipalConsumerAndOtherMemberhbt:PassWatchMember2023-09-300000775215us-gaap:SubstandardMemberhbt:MunicipalConsumerAndOtherMember2023-09-300000775215hbt:MunicipalConsumerAndOtherMemberus-gaap:DoubtfulMember2023-09-300000775215us-gaap:PassMember2023-09-300000775215hbt:PassWatchMember2023-09-300000775215us-gaap:SubstandardMember2023-09-300000775215us-gaap:DoubtfulMember2023-09-300000775215us-gaap:PassMemberhbt:CommercialAndIndustrialMember2022-12-310000775215hbt:CommercialAndIndustrialMemberhbt:PassWatchMember2022-12-310000775215us-gaap:SubstandardMemberhbt:CommercialAndIndustrialMember2022-12-310000775215us-gaap:DoubtfulMemberhbt:CommercialAndIndustrialMember2022-12-310000775215us-gaap:PassMemberhbt:CommercialRealEstateOwnerOccupiedMember2022-12-310000775215hbt:CommercialRealEstateOwnerOccupiedMemberhbt:PassWatchMember2022-12-310000775215us-gaap:SubstandardMemberhbt:CommercialRealEstateOwnerOccupiedMember2022-12-310000775215hbt:CommercialRealEstateOwnerOccupiedMemberus-gaap:DoubtfulMember2022-12-310000775215hbt:CommercialRealEstateNonOwnerOccupiedMemberus-gaap:PassMember2022-12-310000775215hbt:CommercialRealEstateNonOwnerOccupiedMemberhbt:PassWatchMember2022-12-310000775215hbt:CommercialRealEstateNonOwnerOccupiedMemberus-gaap:SubstandardMember2022-12-310000775215hbt:CommercialRealEstateNonOwnerOccupiedMemberus-gaap:DoubtfulMember2022-12-310000775215us-gaap:PassMemberhbt:ConstructionAndLandDevelopmentMember2022-12-310000775215hbt:ConstructionAndLandDevelopmentMemberhbt:PassWatchMember2022-12-310000775215us-gaap:SubstandardMemberhbt:ConstructionAndLandDevelopmentMember2022-12-310000775215us-gaap:DoubtfulMemberhbt:ConstructionAndLandDevelopmentMember2022-12-310000775215us-gaap:PassMemberhbt:MultiFamilyLoansMember2022-12-310000775215hbt:MultiFamilyLoansMemberhbt:PassWatchMember2022-12-310000775215us-gaap:SubstandardMemberhbt:MultiFamilyLoansMember2022-12-310000775215hbt:MultiFamilyLoansMemberus-gaap:DoubtfulMember2022-12-310000775215hbt:OneToFourFamilyResidentialMemberus-gaap:PassMember2022-12-310000775215hbt:OneToFourFamilyResidentialMemberhbt:PassWatchMember2022-12-310000775215hbt:OneToFourFamilyResidentialMemberus-gaap:SubstandardMember2022-12-310000775215hbt:OneToFourFamilyResidentialMemberus-gaap:DoubtfulMember2022-12-310000775215hbt:AgriculturalAndFarmlandMemberus-gaap:PassMember2022-12-310000775215hbt:AgriculturalAndFarmlandMemberhbt:PassWatchMember2022-12-310000775215us-gaap:SubstandardMemberhbt:AgriculturalAndFarmlandMember2022-12-310000775215hbt:AgriculturalAndFarmlandMemberus-gaap:DoubtfulMember2022-12-310000775215us-gaap:PassMemberhbt:MunicipalConsumerAndOtherMember2022-12-310000775215hbt:MunicipalConsumerAndOtherMemberhbt:PassWatchMember2022-12-310000775215us-gaap:SubstandardMemberhbt:MunicipalConsumerAndOtherMember2022-12-310000775215hbt:MunicipalConsumerAndOtherMemberus-gaap:DoubtfulMember2022-12-310000775215us-gaap:PassMember2022-12-310000775215hbt:PassWatchMember2022-12-310000775215us-gaap:SubstandardMember2022-12-310000775215us-gaap:DoubtfulMember2022-12-310000775215us-gaap:AssetPledgedAsCollateralMember2023-09-300000775215us-gaap:AssetPledgedAsCollateralMember2022-12-310000775215hbt:MortgageServicingAssetsMember2023-09-300000775215hbt:MortgageServicingAssetsMember2022-12-310000775215hbt:MortgageServicingAssetsMember2023-06-300000775215hbt:MortgageServicingAssetsMember2022-06-300000775215hbt:MortgageServicingAssetsMember2021-12-310000775215hbt:MortgageServicingAssetsMember2023-07-012023-09-300000775215hbt:MortgageServicingAssetsMember2022-07-012022-09-300000775215hbt:MortgageServicingAssetsMember2023-01-012023-09-300000775215hbt:MortgageServicingAssetsMember2022-01-012022-09-300000775215hbt:MortgageServicingAssetsMember2022-09-300000775215hbt:OneToFourFamilyResidentialRealEstatePropertyMember2023-09-300000775215hbt:OneToFourFamilyResidentialRealEstatePropertyMember2022-12-310000775215hbt:OneToFourFamilyResidentialRealEstatePropertyMember2023-01-012023-09-30hbt:loan0000775215hbt:OneToFourFamilyResidentialRealEstatePropertyMember2022-01-012022-12-310000775215us-gaap:BankTimeDepositsMember2023-09-30hbt:trust0000775215us-gaap:JuniorSubordinatedDebtMemberhbt:HeartlandBancorpInc.CapitalTrustBMember2023-09-300000775215us-gaap:JuniorSubordinatedDebtMemberhbt:HeartlandBancorpInc.CapitalTrustBMember2022-12-310000775215hbt:HeartlandBancorpInc.CapitalTrustCMemberus-gaap:JuniorSubordinatedDebtMember2023-09-300000775215hbt:HeartlandBancorpInc.CapitalTrustCMemberus-gaap:JuniorSubordinatedDebtMember2022-12-310000775215us-gaap:JuniorSubordinatedDebtMemberhbt:HeartlandBancorpInc.CapitalTrustDMember2023-09-300000775215us-gaap:JuniorSubordinatedDebtMemberhbt:HeartlandBancorpInc.CapitalTrustDMember2022-12-310000775215us-gaap:JuniorSubordinatedDebtMemberhbt:FfbiCapitalTrustIMember2023-09-300000775215us-gaap:JuniorSubordinatedDebtMemberhbt:FfbiCapitalTrustIMember2022-12-310000775215us-gaap:JuniorSubordinatedDebtMemberhbt:NationalBancorpStatutoryTrustIMember2023-09-300000775215us-gaap:JuniorSubordinatedDebtMemberhbt:NationalBancorpStatutoryTrustIMember2022-12-310000775215hbt:TownAndCountryStatutoryTrustIiMemberus-gaap:JuniorSubordinatedDebtMember2023-09-300000775215hbt:TownAndCountryStatutoryTrustIiMemberus-gaap:JuniorSubordinatedDebtMember2022-12-310000775215hbt:TownAndCountryStatutoryTrustIiiMemberus-gaap:JuniorSubordinatedDebtMember2023-09-300000775215hbt:TownAndCountryStatutoryTrustIiiMemberus-gaap:JuniorSubordinatedDebtMember2022-12-310000775215us-gaap:JuniorSubordinatedDebtMemberhbt:WpiStatutoryTrustIMember2023-09-300000775215us-gaap:JuniorSubordinatedDebtMemberhbt:WpiStatutoryTrustIMember2022-12-310000775215us-gaap:JuniorSubordinatedDebtMember2023-09-300000775215us-gaap:JuniorSubordinatedDebtMember2022-12-310000775215hbt:HeartlandBancorpInc.CapitalTrustBMember2023-01-012023-09-300000775215hbt:HeartlandBancorpInc.CapitalTrustBMember2023-09-300000775215hbt:HeartlandBancorpInc.CapitalTrustBMember2022-12-310000775215hbt:HeartlandBancorpInc.CapitalTrustCMember2023-01-012023-09-300000775215hbt:HeartlandBancorpInc.CapitalTrustCMember2023-09-300000775215hbt:HeartlandBancorpInc.CapitalTrustCMember2022-12-310000775215hbt:HeartlandBancorpInc.CapitalTrustDMember2023-01-012023-09-300000775215hbt:HeartlandBancorpInc.CapitalTrustDMember2023-09-300000775215hbt:HeartlandBancorpInc.CapitalTrustDMember2022-12-310000775215hbt:FfbiCapitalTrustIMember2023-01-012023-09-300000775215hbt:FfbiCapitalTrustIMember2023-09-300000775215hbt:FfbiCapitalTrustIMember2022-12-310000775215hbt:NationalBancorpStatutoryTrustIMember2023-01-012023-09-300000775215hbt:NationalBancorpStatutoryTrustIMember2023-09-300000775215hbt:NationalBancorpStatutoryTrustIMember2022-12-310000775215hbt:TownAndCountryStatutoryTrustIiMember2023-01-012023-09-300000775215hbt:TownAndCountryStatutoryTrustIiMember2023-09-300000775215hbt:TownAndCountryStatutoryTrustIiiMember2023-01-012023-09-300000775215hbt:TownAndCountryStatutoryTrustIiiMember2023-09-300000775215hbt:WpiStatutoryTrustIMember2023-01-012023-09-300000775215hbt:WpiStatutoryTrustIMember2023-09-30hbt:period0000775215us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMemberus-gaap:OtherAssetsMember2023-09-300000775215us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMemberus-gaap:OtherAssetsMember2022-12-310000775215us-gaap:InterestExpenseMemberus-gaap:CashFlowHedgingMember2023-07-012023-09-300000775215us-gaap:InterestExpenseMemberus-gaap:CashFlowHedgingMember2022-07-012022-09-300000775215us-gaap:InterestExpenseMemberus-gaap:CashFlowHedgingMember2023-01-012023-09-300000775215us-gaap:InterestExpenseMemberus-gaap:CashFlowHedgingMember2022-01-012022-09-300000775215us-gaap:InterestRateSwapMemberus-gaap:CommercialBorrowerMemberus-gaap:NondesignatedMemberus-gaap:OtherAssetsMember2023-09-300000775215us-gaap:InterestRateSwapMemberus-gaap:CommercialBorrowerMemberus-gaap:NondesignatedMemberus-gaap:OtherAssetsMember2022-12-310000775215us-gaap:InterestRateSwapMemberus-gaap:FinancialInstitutionsBorrowerMemberus-gaap:NondesignatedMemberus-gaap:OtherAssetsMember2023-09-300000775215us-gaap:InterestRateSwapMemberus-gaap:FinancialInstitutionsBorrowerMemberus-gaap:NondesignatedMemberus-gaap:OtherAssetsMember2022-12-310000775215us-gaap:InterestRateSwapMemberus-gaap:NondesignatedMemberus-gaap:OtherAssetsMember2023-09-300000775215us-gaap:InterestRateSwapMemberus-gaap:NondesignatedMemberus-gaap:OtherAssetsMember2022-12-310000775215us-gaap:OtherLiabilitiesMemberus-gaap:InterestRateSwapMemberus-gaap:CommercialBorrowerMemberus-gaap:NondesignatedMember2023-09-300000775215us-gaap:OtherLiabilitiesMemberus-gaap:InterestRateSwapMemberus-gaap:CommercialBorrowerMemberus-gaap:NondesignatedMember2022-12-310000775215us-gaap:OtherLiabilitiesMemberus-gaap:InterestRateSwapMemberus-gaap:FinancialInstitutionsBorrowerMemberus-gaap:NondesignatedMember2023-09-300000775215us-gaap:OtherLiabilitiesMemberus-gaap:InterestRateSwapMemberus-gaap:FinancialInstitutionsBorrowerMemberus-gaap:NondesignatedMember2022-12-310000775215us-gaap:OtherLiabilitiesMemberus-gaap:InterestRateSwapMemberus-gaap:NondesignatedMember2023-09-300000775215us-gaap:OtherLiabilitiesMemberus-gaap:InterestRateSwapMemberus-gaap:NondesignatedMember2022-12-310000775215us-gaap:InterestRateSwapMemberus-gaap:NondesignatedMember2022-01-012022-09-300000775215us-gaap:InterestRateSwapMemberus-gaap:NondesignatedMember2023-07-012023-09-300000775215us-gaap:InterestRateSwapMemberus-gaap:NondesignatedMember2022-07-012022-09-300000775215us-gaap:InterestRateSwapMemberus-gaap:NondesignatedMember2023-01-012023-09-300000775215us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2023-06-300000775215hbt:AociAccumulatedGainLossDebtSecuritiesHeldToMaturityParentMember2023-06-300000775215us-gaap:AociDerivativeQualifyingAsHedgeExcludedComponentParentMember2023-06-300000775215us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2023-07-012023-09-300000775215hbt:AociAccumulatedGainLossDebtSecuritiesHeldToMaturityParentMember2023-01-012023-09-300000775215us-gaap:AociDerivativeQualifyingAsHedgeExcludedComponentParentMember2023-07-012023-09-300000775215hbt:AociAccumulatedGainLossDebtSecuritiesHeldToMaturityParentMember2023-07-012023-09-300000775215us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2023-09-300000775215hbt:AociAccumulatedGainLossDebtSecuritiesHeldToMaturityParentMember2023-09-300000775215us-gaap:AociDerivativeQualifyingAsHedgeExcludedComponentParentMember2023-09-300000775215us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2022-06-300000775215hbt:AociAccumulatedGainLossDebtSecuritiesHeldToMaturityParentMember2022-06-300000775215us-gaap:AociDerivativeQualifyingAsHedgeExcludedComponentParentMember2022-06-300000775215us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2022-07-012022-09-300000775215hbt:AociAccumulatedGainLossDebtSecuritiesHeldToMaturityParentMember2022-07-012022-09-300000775215us-gaap:AociDerivativeQualifyingAsHedgeExcludedComponentParentMember2022-07-012022-09-300000775215us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2022-09-300000775215hbt:AociAccumulatedGainLossDebtSecuritiesHeldToMaturityParentMember2022-09-300000775215us-gaap:AociDerivativeQualifyingAsHedgeExcludedComponentParentMember2022-09-300000775215us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2022-12-310000775215hbt:AociAccumulatedGainLossDebtSecuritiesHeldToMaturityParentMember2022-12-310000775215us-gaap:AociDerivativeQualifyingAsHedgeExcludedComponentParentMember2022-12-310000775215us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2023-01-012023-09-300000775215us-gaap:AociDerivativeQualifyingAsHedgeExcludedComponentParentMember2023-01-012023-09-300000775215us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2021-12-310000775215hbt:AociAccumulatedGainLossDebtSecuritiesHeldToMaturityParentMember2021-12-310000775215us-gaap:AociDerivativeQualifyingAsHedgeExcludedComponentParentMember2021-12-310000775215us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2022-01-012022-09-300000775215hbt:AociAccumulatedGainLossDebtSecuritiesHeldToMaturityParentMember2022-01-012022-09-300000775215us-gaap:AociDerivativeQualifyingAsHedgeExcludedComponentParentMember2022-01-012022-09-300000775215hbt:OmnibusIncentivePlanMember2023-09-300000775215us-gaap:RestrictedStockUnitsRSUMember2023-07-012023-09-300000775215us-gaap:RestrictedStockUnitsRSUMember2022-07-012022-09-300000775215us-gaap:RestrictedStockUnitsRSUMember2023-01-012023-09-300000775215us-gaap:RestrictedStockUnitsRSUMember2022-01-012022-09-300000775215us-gaap:PerformanceSharesMember2023-07-012023-09-300000775215us-gaap:PerformanceSharesMember2022-07-012022-09-300000775215us-gaap:PerformanceSharesMember2023-01-012023-09-300000775215us-gaap:PerformanceSharesMember2022-01-012022-09-300000775215hbt:TotalAwardsClassifiedAsEquityMember2023-07-012023-09-300000775215hbt:TotalAwardsClassifiedAsEquityMember2022-07-012022-09-300000775215hbt:TotalAwardsClassifiedAsEquityMember2023-01-012023-09-300000775215hbt:TotalAwardsClassifiedAsEquityMember2022-01-012022-09-300000775215us-gaap:StockAppreciationRightsSARSMember2023-07-012023-09-300000775215us-gaap:StockAppreciationRightsSARSMember2022-07-012022-09-300000775215us-gaap:StockAppreciationRightsSARSMember2023-01-012023-09-300000775215us-gaap:StockAppreciationRightsSARSMember2022-01-012022-09-3000007752152022-02-012022-02-280000775215us-gaap:RestrictedStockUnitsRSUMember2023-09-300000775215us-gaap:RestrictedStockUnitsRSUMember2023-06-300000775215us-gaap:RestrictedStockUnitsRSUMember2022-06-300000775215us-gaap:RestrictedStockUnitsRSUMember2022-09-300000775215us-gaap:RestrictedStockUnitsRSUMember2022-12-310000775215us-gaap:RestrictedStockUnitsRSUMember2021-12-310000775215us-gaap:PerformanceSharesMembersrt:MinimumMember2023-09-300000775215us-gaap:PerformanceSharesMembersrt:MaximumMember2023-09-300000775215us-gaap:ShareBasedPaymentArrangementEmployeeMemberus-gaap:PerformanceSharesMember2023-01-012023-09-300000775215us-gaap:ShareBasedPaymentArrangementEmployeeMemberus-gaap:PerformanceSharesMember2022-01-012022-09-300000775215us-gaap:PerformanceSharesMember2023-06-300000775215us-gaap:PerformanceSharesMember2022-06-300000775215us-gaap:PerformanceSharesMember2023-09-300000775215us-gaap:PerformanceSharesMember2022-09-300000775215us-gaap:PerformanceSharesMember2022-12-310000775215us-gaap:PerformanceSharesMember2021-12-310000775215us-gaap:StockAppreciationRightsSARSMember2023-06-300000775215us-gaap:StockAppreciationRightsSARSMember2022-06-300000775215us-gaap:StockAppreciationRightsSARSMember2023-09-300000775215us-gaap:StockAppreciationRightsSARSMember2022-09-300000775215us-gaap:StockAppreciationRightsSARSMember2022-12-310000775215us-gaap:StockAppreciationRightsSARSMember2021-12-310000775215us-gaap:StockAppreciationRightsSARSMember2022-01-012022-12-31hbt:installment0000775215srt:ParentCompanyMember2023-09-300000775215hbt:HeartlandBankMember2023-09-300000775215srt:ParentCompanyMember2022-12-310000775215hbt:HeartlandBankMember2022-12-310000775215us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasurySecuritiesMemberus-gaap:FairValueInputsLevel1Member2023-09-300000775215us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasurySecuritiesMemberus-gaap:FairValueInputsLevel2Member2023-09-300000775215us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasurySecuritiesMember2023-09-300000775215us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasurySecuritiesMember2023-09-300000775215us-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2023-09-300000775215us-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2023-09-300000775215us-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2023-09-300000775215us-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2023-09-300000775215us-gaap:MunicipalBondsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2023-09-300000775215us-gaap:MunicipalBondsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2023-09-300000775215us-gaap:MunicipalBondsMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2023-09-300000775215us-gaap:MunicipalBondsMemberus-gaap:FairValueMeasurementsRecurringMember2023-09-300000775215us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:ResidentialMortgageBackedSecuritiesMember2023-09-300000775215us-gaap:FairValueMeasurementsRecurringMemberus-gaap:ResidentialMortgageBackedSecuritiesMemberus-gaap:FairValueInputsLevel2Member2023-09-300000775215us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2023-09-300000775215us-gaap:FairValueMeasurementsRecurringMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2023-09-300000775215us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:CommercialMortgageBackedSecuritiesMember2023-09-300000775215us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Memberus-gaap:CommercialMortgageBackedSecuritiesMember2023-09-300000775215us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommercialMortgageBackedSecuritiesMember2023-09-300000775215us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommercialMortgageBackedSecuritiesMember2023-09-300000775215us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:CorporateDebtSecuritiesMember2023-09-300000775215us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Memberus-gaap:CorporateDebtSecuritiesMember2023-09-300000775215us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2023-09-300000775215us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2023-09-300000775215us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2023-09-300000775215us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2023-09-300000775215us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2023-09-300000775215us-gaap:FairValueMeasurementsRecurringMember2023-09-300000775215us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasurySecuritiesMemberus-gaap:FairValueInputsLevel1Member2022-12-310000775215us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasurySecuritiesMemberus-gaap:FairValueInputsLevel2Member2022-12-310000775215us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasurySecuritiesMember2022-12-310000775215us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasurySecuritiesMember2022-12-310000775215us-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2022-12-310000775215us-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2022-12-310000775215us-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2022-12-310000775215us-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310000775215us-gaap:MunicipalBondsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2022-12-310000775215us-gaap:MunicipalBondsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2022-12-310000775215us-gaap:MunicipalBondsMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2022-12-310000775215us-gaap:MunicipalBondsMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310000775215us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:ResidentialMortgageBackedSecuritiesMember2022-12-310000775215us-gaap:FairValueMeasurementsRecurringMemberus-gaap:ResidentialMortgageBackedSecuritiesMemberus-gaap:FairValueInputsLevel2Member2022-12-310000775215us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2022-12-310000775215us-gaap:FairValueMeasurementsRecurringMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2022-12-310000775215us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:CommercialMortgageBackedSecuritiesMember2022-12-310000775215us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Memberus-gaap:CommercialMortgageBackedSecuritiesMember2022-12-310000775215us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommercialMortgageBackedSecuritiesMember2022-12-310000775215us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommercialMortgageBackedSecuritiesMember2022-12-310000775215us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:CorporateDebtSecuritiesMember2022-12-310000775215us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Memberus-gaap:CorporateDebtSecuritiesMember2022-12-310000775215us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2022-12-310000775215us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2022-12-310000775215us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2022-12-310000775215us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2022-12-310000775215us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2022-12-310000775215us-gaap:FairValueMeasurementsRecurringMember2022-12-310000775215us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputConstantPrepaymentRateMember2023-09-300000775215us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputConstantPrepaymentRateMembersrt:MinimumMember2023-09-300000775215us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputConstantPrepaymentRateMembersrt:MaximumMember2023-09-300000775215us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputConstantPrepaymentRateMembersrt:WeightedAverageMember2023-09-300000775215us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputDiscountRateMembersrt:MinimumMember2023-09-300000775215us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputDiscountRateMembersrt:MaximumMember2023-09-300000775215us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputDiscountRateMembersrt:WeightedAverageMember2023-09-300000775215us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputConstantPrepaymentRateMember2022-12-310000775215us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputConstantPrepaymentRateMembersrt:MinimumMember2022-12-310000775215us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputConstantPrepaymentRateMembersrt:MaximumMember2022-12-310000775215us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputConstantPrepaymentRateMembersrt:WeightedAverageMember2022-12-310000775215us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputDiscountRateMembersrt:MinimumMember2022-12-310000775215us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputDiscountRateMembersrt:MaximumMember2022-12-310000775215us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputDiscountRateMembersrt:WeightedAverageMember2022-12-310000775215us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsNonrecurringMember2023-09-300000775215us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel2Member2023-09-300000775215us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMember2023-09-300000775215us-gaap:FairValueMeasurementsNonrecurringMember2023-09-300000775215us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsNonrecurringMember2022-12-310000775215us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel2Member2022-12-310000775215us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMember2022-12-310000775215us-gaap:FairValueMeasurementsNonrecurringMember2022-12-310000775215us-gaap:FairValueInputsLevel3Memberhbt:AppraisalOfCollateralMemberhbt:CollateralDependentImpairedLoansMemberus-gaap:FairValueMeasurementsNonrecurringMember2023-09-300000775215us-gaap:FairValueInputsLevel3Memberhbt:AppraisalMemberus-gaap:FairValueMeasurementsNonrecurringMemberhbt:BankPremisesHeldForSaleMember2023-09-300000775215us-gaap:FairValueInputsLevel3Memberhbt:AppraisalMemberus-gaap:FairValueMeasurementsNonrecurringMemberhbt:BankPremisesHeldForSaleMembersrt:WeightedAverageMember2023-09-300000775215hbt:ForeclosedAssetsMemberus-gaap:FairValueInputsLevel3Memberhbt:AppraisalMemberus-gaap:FairValueMeasurementsNonrecurringMember2023-09-300000775215hbt:ForeclosedAssetsMemberus-gaap:FairValueInputsLevel3Memberhbt:AppraisalMemberus-gaap:FairValueMeasurementsNonrecurringMembersrt:WeightedAverageMember2023-09-300000775215us-gaap:FairValueInputsLevel3Memberhbt:AppraisalOfCollateralMemberhbt:CollateralDependentImpairedLoansMemberus-gaap:FairValueMeasurementsNonrecurringMember2022-12-310000775215us-gaap:FairValueInputsLevel3Memberhbt:AppraisalMemberus-gaap:FairValueMeasurementsNonrecurringMemberhbt:BankPremisesHeldForSaleMember2022-12-310000775215us-gaap:FairValueInputsLevel3Memberhbt:AppraisalMemberus-gaap:FairValueMeasurementsNonrecurringMemberhbt:BankPremisesHeldForSaleMembersrt:WeightedAverageMember2022-12-310000775215hbt:ForeclosedAssetsMemberus-gaap:FairValueInputsLevel3Memberhbt:AppraisalMemberus-gaap:FairValueMeasurementsNonrecurringMember2022-12-310000775215hbt:ForeclosedAssetsMemberus-gaap:FairValueInputsLevel3Memberhbt:AppraisalMemberus-gaap:FairValueMeasurementsNonrecurringMembersrt:WeightedAverageMember2022-12-310000775215us-gaap:FairValueInputsLevel1Memberus-gaap:CarryingReportedAmountFairValueDisclosureMember2023-09-300000775215us-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-09-300000775215us-gaap:FairValueInputsLevel1Memberus-gaap:CarryingReportedAmountFairValueDisclosureMember2022-12-310000775215us-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-12-310000775215us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:FairValueInputsLevel2Member2023-09-300000775215us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-09-300000775215us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:FairValueInputsLevel2Member2022-12-310000775215us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-12-310000775215us-gaap:FairValueInputsLevel3Memberus-gaap:CarryingReportedAmountFairValueDisclosureMember2023-09-300000775215us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-09-300000775215us-gaap:FairValueInputsLevel3Memberus-gaap:CarryingReportedAmountFairValueDisclosureMember2022-12-310000775215us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-12-310000775215us-gaap:FairValueInputsLevel3Memberus-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:SubordinatedDebtMember2023-09-300000775215us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:SubordinatedDebtMember2023-09-300000775215us-gaap:FairValueInputsLevel3Memberus-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:SubordinatedDebtMember2022-12-310000775215us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:SubordinatedDebtMember2022-12-310000775215us-gaap:FairValueInputsLevel3Memberus-gaap:JuniorSubordinatedDebtMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2023-09-300000775215us-gaap:FairValueInputsLevel3Memberus-gaap:JuniorSubordinatedDebtMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-09-300000775215us-gaap:FairValueInputsLevel3Memberus-gaap:JuniorSubordinatedDebtMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2022-12-310000775215us-gaap:FairValueInputsLevel3Memberus-gaap:JuniorSubordinatedDebtMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-12-310000775215us-gaap:CommitmentsToExtendCreditMember2023-09-300000775215us-gaap:CommitmentsToExtendCreditMember2022-12-310000775215us-gaap:StandbyLettersOfCreditMember2023-09-300000775215us-gaap:StandbyLettersOfCreditMember2022-12-310000775215us-gaap:UnfundedLoanCommitmentMember2023-09-300000775215hbt:TGCCasesMember2023-02-202023-02-200000775215hbt:TGCCasesMember2023-08-162023-08-160000775215hbt:TGCCasesMember2023-09-300000775215hbt:TGCCasesMember2022-12-310000775215hbt:TGCCasesMember2022-10-012022-12-310000775215hbt:DebaereAndMillerCasesMember2023-05-152023-05-150000775215hbt:DebaereAndMillerCasesMember2023-09-300000775215hbt:DebaereAndMillerCasesMember2022-12-310000775215hbt:DebaereAndMillerCasesMember2022-10-012022-12-310000775215hbt:DebaereAndMillerCasesMember2023-07-012023-09-30
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
x    QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended September 30, 2023
OR
o    TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from ______ to
Commission file number: 001-39085
HBT Financial, Inc.
(Exact name of registrant as specified in its charter)
Delaware
37-1117216
(State or other jurisdiction of
incorporation or organization)
(I.R.S. Employer
Identification No.)
401 North Hershey Rd
Bloomington, Illinois 61704
(888) 897-2276
(Address of principal executive offices,
including zip code)
(Registrant’s telephone number,
including area code)
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Common Stock, par value $0.01 per shareHBT
The Nasdaq Stock Market LLC
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes x No o
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes x No o
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large accelerated fileroAccelerated filerx
Non-accelerated fileroSmaller reporting companyx
Emerging growth companyx
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes o No x
As of October 24, 2023, there were 31,710,005 shares outstanding of the registrant’s common stock, $0.01 par value.


TABLE OF CONTENTS
HBT Financial, Inc.
Page


CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
Certain statements contained in this quarterly report are forward-looking statements. Forward-looking statements may include statements relating to our plans, strategies and expectations, the economic impact of the COVID-19 pandemic and our future financial results, 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," "expect," "estimate," "intend," "anticipate," "project," "plan" or similar expressions. Forward-looking statements are frequently based on assumptions that may or may not materialize and are subject to numerous uncertainties that could cause actual results to differ materially from those anticipated in the forward-looking statements. Factors that could cause actual results to differ materially from the results anticipated or projected and which could materially and adversely affect our operating results, financial condition or prospects include, but are not limited to:
the strength of the local, state, national and international economies (including effects of inflationary pressures and supply chain constraints);
the economic impact of any future terrorist threats and attacks, widespread disease or pandemics (including the COVID-19 pandemic in the United States), acts of war or other threats thereof (including the Israeli-Palestinian conflict and the Russian invasion of Ukraine), or other adverse external events that could cause economic deterioration or instability in credit markets, and the response of the local, state and national governments to any such adverse external events;
changes in accounting policies and practices, as may be adopted by state and federal regulatory agencies, the Financial Accounting Standards Board (the “FASB”) or the Public Company Accounting Oversight Board (including the Company’s adoption of the current expected credit losses (“CECL”) methodology);
changes in state and federal laws, regulations and governmental policies concerning the Company’s general business and any changes in response to the recent failures of other banks;
changes in interest rates and prepayment rates of the Company’s assets (including the impact of LIBOR phase-out and the recent and potential additional rate increases by the Federal Reserve);
increased competition in the financial services sector, including from non-bank competitors such as credit unions and “fintech” companies, and the inability to attract new customers;
changes in technology and the ability to develop and maintain secure and reliable electronic systems;
unexpected results of acquisitions, which may include failure to realize the anticipated benefits of acquisitions and the possibility that transaction costs may be greater than anticipated;
the loss of key executives or employees;
changes in consumer spending;
unexpected outcomes of existing or new litigation involving the Company;
the economic impact of exceptional weather occurrences such as tornadoes, floods and blizzards;
fluctuations in the value of securities held in our securities portfolio;
concentrations within our loan portfolio, large loans to certain borrowers, and large deposits from certain clients;
the concentration of large deposits from certain clients who have balances above current FDIC insurance limits and may withdraw deposits to diversify their exposure;
the level of non-performing assets on our balance sheets;
interruptions involving our information technology and communications systems or third-party servicers;
breaches or failures of our information security controls or cybersecurity-related incidents;
our asset quality and any loan charge-offs;
the composition of our loan portfolio;
the effects of changes in interest rates on our net interest income, net interest margin, our investments, our loan originations, and our modeling estimates relating to interest rate changes;
our access to sources of liquidity and capital to address our liquidity needs;
our inability to receive dividends from the Bank, pay dividends to our common stockholders or satisfy obligations as they become due;
the effects of problems encountered by other financial institutions;
our ability to achieve organic loan and deposit growth and the composition of such growth;
our ability to successfully develop and commercialize new or enhanced products and services;
current and future business, economic and market conditions in the United States (“U.S.”) generally or in the States of Illinois and Iowa in particular;
1

the geographic concentration of our operations in the States of Illinois and Iowa;
our ability to attract and retain customer deposits;
our ability to maintain the Bank’s reputation;
possible impairment of our goodwill and other intangible assets;
our prior status as an S corporation;
possible changes in trade, monetary and fiscal policies of, and other activities undertaken by, governments, agencies, central banks and similar organizations;
the effectiveness of our risk management and internal disclosure controls and procedures;
market perceptions associated with certain aspects of our business;
our ability to meet our obligations as a public company, including our obligations under Section 404 of the Sarbanes-Oxley Act of 2002;
damage to our reputation from any of the factors described above;
our success at managing the risks involved in the foregoing items; and
the factors discussed in “Risk Factors”, "Management's Discussion and Analysis of Financial Condition and Results of Operations" or elsewhere in this Quarterly Report on Form 10-Q and in our Annual Report on Form 10-K for the year ended December 31, 2022, filed with the Securities and Exchange (“SEC”) Commission on March 8, 2023.
These risks and uncertainties should be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements. Forward-looking statements speak only as of the date they are made. We do not undertake any obligation to update any forward-looking statement in the future, or to reflect circumstances and events that occur after the date on which the forward-looking statement was made.
2

PART I. FINANCIAL INFORMATION
ITEM 1.    CONSOLIDATED FINANCIAL STATEMENTS
HBT FINANCIAL, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS

(Unaudited)
(dollars in thousands, except per share data)September 30, 2023December 31, 2022
ASSETS
Cash and due from banks$24,757 $18,970 
Interest-bearing deposits with banks87,156 95,189 
Cash and cash equivalents111,913 114,159 
Interest-bearing time deposits with banks500  
Debt securities available-for-sale, at fair value753,163 843,524 
Debt securities held-to-maturity (fair value of $450,313 at 2023 and $478,801 at 2022)
527,144 541,600 
Equity securities with readily determinable fair value3,106 3,029 
Equity securities with no readily determinable fair value2,300 1,977 
Restricted stock, at cost11,165 7,965 
Loans held for sale3,563 615 
Loans, before allowance for credit losses3,342,786 2,620,253 
Allowance for credit losses(38,863)(25,333)
Loans, net of allowance for credit losses3,303,923 2,594,920 
Bank owned life insurance23,747 7,557 
Bank premises and equipment, net64,713 50,469 
Bank premises held for sale35 235 
Foreclosed assets1,519 3,030 
Goodwill59,820 29,322 
Intangible assets, net21,402 1,070 
Mortgage servicing rights, at fair value20,156 10,147 
Investments in unconsolidated subsidiaries1,614 1,165 
Accrued interest receivable23,447 19,506 
Other assets58,538 56,444 
Total assets$4,991,768 $4,286,734 
LIABILITIES AND STOCKHOLDERS' EQUITY
Liabilities
Deposits:
Noninterest-bearing$1,086,877 $994,954 
Interest-bearing3,111,191 2,592,070 
Total deposits4,198,068 3,587,024 
Securities sold under agreements to repurchase28,900 43,081 
Federal Home Loan Bank advances177,650 160,000 
Subordinated notes39,454 39,395 
Junior subordinated debentures issued to capital trusts52,774 37,780 
Other liabilities38,671 45,822 
Total liabilities4,535,517 3,913,102 
COMMITMENTS AND CONTINGENCIES (Note 15)
Stockholders' Equity
Preferred stock, $0.01 par value; 25,000,000 shares authorized; none issued or outstanding
  
Common stock, $0.01 par value; 125,000,000 shares authorized; shares issued of 32,730,698 at 2023 and 29,308,491 at 2022; shares outstanding of 31,774,140 at 2023 and 28,752,626 at 2022
327 293 
Surplus295,483 222,783 
Retained earnings256,050 232,004 
Accumulated other comprehensive income (loss)(78,432)(71,759)
Treasury stock at cost, 956,558 shares at 2023 and 555,865 at 2022
(17,177)(9,689)
Total stockholders’ equity456,251 373,632 
Total liabilities and stockholders’ equity$4,991,768 $4,286,734 
See accompanying Notes to Consolidated Financial Statements (Unaudited)
3

HBT FINANCIAL, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
(Unaudited)
Three Months Ended September 30,Nine Months Ended September 30,
(dollars in thousands, except per share data)2023202220232022
INTEREST AND DIVIDEND INCOME
Loans, including fees:
Taxable$49,640 $29,855 $138,948 $84,504 
Federally tax exempt1,072 842 3,064 2,183 
Securities:
Taxable6,451 6,635 19,585 16,947 
Federally tax exempt978 1,207 3,337 3,385 
Interest-bearing deposits in bank714 458 2,234 1,037 
Other interest and dividend income186 17 420 50 
Total interest and dividend income59,041 39,014 167,588 108,106 
INTEREST EXPENSE
Deposits7,211 587 13,908 1,662 
Securities sold under agreements to repurchase35 9 107 26 
Borrowings2,108 85 5,594 87 
Subordinated notes470 470 1,409 1,409 
Junior subordinated debentures issued to capital trusts938 473 2,582 1,231 
Total interest expense10,762 1,624 23,600 4,415 
Net interest income48,279 37,390 143,988 103,691 
PROVISION FOR CREDIT LOSSES480 386 6,460 (53)
Net interest income after provision for credit losses47,799 37,004 137,528 103,744 
NONINTEREST INCOME
Card income2,763 2,569 8,326 7,687 
Wealth management fees2,381 2,059 6,998 6,670 
Service charges on deposit accounts2,040 1,927 5,830 5,371 
Mortgage servicing1,169 697 3,522 2,016 
Mortgage servicing rights fair value adjustment23 351 (460)2,446 
Gains on sale of mortgage loans476 354 1,125 1,267 
Realized gains (losses) on sales of securities(813) (1,820) 
Unrealized gains (losses) on equity securities(46)(107)(61)(447)
Gains (losses) on foreclosed assets550 (225)443 (192)
Gains (losses) on other assets52 (31)161 119 
Income on bank owned life insurance153 41 415 122 
Other noninterest income742 599 2,362 1,769 
Total noninterest income9,490 8,234 26,841 26,828 
NONINTEREST EXPENSE
Salaries15,644 12,752 51,715 38,489 
Employee benefits2,616 1,771 7,658 6,199 
Occupancy of bank premises2,573 1,979 7,460 5,780 
Furniture and equipment667 668 2,135 1,843 
Data processing2,581 1,631 9,787 5,274 
Marketing and customer relations1,679 880 3,874 2,936 
Amortization of intangible assets720 243 1,950 733 
FDIC insurance512 302 1,705 888 
Loan collection and servicing345 336 971 771 
Foreclosed assets76 97 234 260 
Other noninterest expense3,258 3,339 13,088 8,824 
Total noninterest expense30,671 23,998 100,577 71,997 
INCOME BEFORE INCOME TAX EXPENSE26,618 21,240 63,792 58,575 
INCOME TAX EXPENSE6,903 5,613 16,396 15,259 
NET INCOME$19,715 $15,627 $47,396 $43,316 
EARNINGS PER SHARE - BASIC$0.62 $0.54 $1.50 $1.50 
EARNINGS PER SHARE - DILUTED$0.62 $0.54 $1.49 $1.49 
WEIGHTED AVERAGE SHARES OF COMMON STOCK OUTSTANDING31,829,25028,787,66231,598,65028,887,757
See accompanying Notes to Consolidated Financial Statements (Unaudited)
4

HBT FINANCIAL, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
(Unaudited)
Three Months Ended September 30,Nine Months Ended September 30,
(dollars in thousands)2023202220232022
NET INCOME$19,715 $15,627 $47,396 $43,316 
OTHER COMPREHENSIVE LOSS
Unrealized losses on debt securities available-for-sale(11,326)(35,358)(12,521)(112,931)
Reclassification adjustment for losses on securities available-for-sale realized in income13  1,820  
Reclassification adjustment for amortization of net unrealized losses on debt securities transferred to held-to-maturity518 504 1,483 1,234 
Unrealized gains on derivative instruments58 374 219 1,117 
Reclassification adjustment for net settlements on derivative instruments(131)14 (334)177 
Total other comprehensive loss, before tax(10,868)(34,466)(9,333)(110,403)
Income tax benefit(3,098)(9,824)(2,660)(31,470)
Total other comprehensive loss(7,770)(24,642)(6,673)(78,933)
TOTAL COMPREHENSIVE INCOME (LOSS)$11,945 $(9,015)$40,723 $(35,617)
See accompanying Notes to Consolidated Financial Statements (Unaudited)
5

HBT FINANCIAL, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY
(Unaudited)
Common StockAccumulated
Other
Comprehensive
Income (Loss)
Total
Stockholders’
Equity
(dollars in thousands, except per share data)Shares
Outstanding
AmountSurplusRetained
Earnings
Treasury
Stock
Balance, June 30, 202331,865,868$327 $294,875 $241,777 $(70,662)$(15,465)$450,852 
Net income— — 19,715 — — 19,715 
Other comprehensive loss— — — (7,770)— (7,770)
Stock-based compensation— 608 — — — 608 
Repurchase of common stock(91,728)— — — — (1,712)(1,712)
Cash dividends and dividend equivalents ($0.17 per share)
— — (5,442)— — (5,442)
Balance, September 30, 202331,774,140$327 $295,483 $256,050 $(78,432)$(17,177)$456,251 
Balance, June 30, 202228,831,197$293 $222,087 $212,506 $(52,820)$(8,257)$373,809 
Net income— — 15,627 — — 15,627 
Other comprehensive loss— — — (24,642)— (24,642)
Stock-based compensation— 349 — — — 349 
Repurchase of common stock(78,571)— — — — (1,432)(1,432)
Cash dividends and dividend equivalents ($0.16 per share)
— — — (4,638)— — (4,638)
Balance, September 30, 202228,752,626$293 $222,436 $223,495 $(77,462)$(9,689)$359,073 
See accompanying Notes to Consolidated Financial Statements (Unaudited)
6

HBT FINANCIAL, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY (CONTINUED)
(Unaudited)
Common StockAccumulated
Other
Comprehensive
Income (Loss)
Total
Stockholders’
Equity
(dollars in thousands, except per share data)Shares
Outstanding
AmountSurplusRetained
Earnings
Treasury
Stock
Balance, December 31, 202228,752,626$293 $222,783 $232,004 $(71,759)$(9,689)$373,632 
Cumulative effect of change in accounting principle (ASU 2016-13)— — (6,922)— — (6,922)
Net income— — 47,396 — — 47,396 
Other comprehensive loss— — — (6,673)— (6,673)
Stock-based compensation— 1,559 — — — 1,559 
Issuance of common stock upon vesting of restricted stock units, net of tax withholdings43,607— (181)— — — (181)
Issuance of common stock in Town and Country acquisition3,378,60034 71,322 71,356 
Repurchase of common stock(400,693)— — — — (7,488)(7,488)
Cash dividends and dividend equivalents ($0.51 per share)
— — (16,428)— — (16,428)
Balance, September 30, 202331,774,140 $327 $295,483 $256,050 $(78,432)$(17,177)$456,251 
Balance, December 31, 202128,986,061$293 $220,891 $194,132 $1,471 $(4,906)$411,881 
Net income— — 43,316 — — 43,316 
Other comprehensive loss— — — (78,933)— (78,933)
Stock-based compensation— 1,602 — — — 1,602 
Issuance of common stock upon vesting of restricted stock units, net of tax withholdings31,944— (57)— — — (57)
Repurchase of common stock(265,379)— — — — (4,783)(4,783)
Cash dividends and dividend equivalents ($0.48 per share)
— — (13,953)— — (13,953)
Balance, September 30, 202228,752,626 $293 $222,436 $223,495 $(77,462)$(9,689)$359,073 
See accompanying Notes to Consolidated Financial Statements (Unaudited)
7

HBT FINANCIAL, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
Nine Months Ended September 30,
(dollars in thousands)20232022
CASH FLOWS FROM OPERATING ACTIVITIES
Net income$47,396 $43,316 
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation expense2,362 2,296 
Provision for credit losses6,460 (53)
Net amortization of debt securities4,391 5,337 
Deferred income tax expense (benefit)2,492 (245)
Stock-based compensation1,559 1,602 
Net accretion of discount and deferred loan fees on loans(5,312)(4,320)
Net realized loss on sales of securities1,820  
Net unrealized loss on equity securities61 447 
Net loss (gain) on disposals of bank premises and equipment(84)8 
Net gain on sales of bank premises held for sale(75)(187)
Impairment losses on bank premises held for sale 61 
Net gain on sales of foreclosed assets(632)(118)
Write-down of foreclosed assets189 310 
Amortization of intangibles1,950 733 
Decrease (increase) in mortgage servicing rights460 (2,446)
Amortization of discount and issuance costs on subordinated notes and debentures104 109 
Amortization of discount on Federal Home Loan Bank advances275  
Amortization of premium on interest-bearing time deposits with banks 5 
Amortization of premium on time deposits(330)(164)
Mortgage loans originated for sale(53,187)(50,467)
Proceeds from sale of mortgage loans52,976 54,379 
Net gain on sale of mortgage loans(1,125)(1,267)
Increase in cash surrender value of bank owned life insurance(408)(122)
Increase in accrued interest receivable (828)(1,980)
Decrease in other assets12,530 289 
Increase (decrease) in other liabilities(20,198)1,583 
Net cash provided by operating activities52,846 49,106 
CASH FLOWS FROM INVESTING ACTIVITIES
Proceeds from maturities of interest-bearing time deposits with banks249 485 
Purchase of interest-bearing time deposits with banks(500) 
Proceeds from sales of securities available-for-sale185,280  
Proceeds from paydowns, maturities, and calls of debt securities74,616 129,629 
Purchase of securities(3,010)(368,794)
Purchase of loans(49,859) 
Net increase in loans(32,506)(74,769)
Purchase of restricted stock(20,143)(1,311)
Proceeds from redemption of restricted stock19,765  
Purchases of bank premises and equipment(1,951)(683)
Proceeds from sales of bank premises and equipment222 8 
Proceeds from sales of bank premises held for sale310 1,297 
Proceeds from sales of foreclosed assets3,274 476 
Net cash paid for acquisition of Town and Country(14,454) 
Net cash provided by (used in) investing activities161,293 (313,662)
CASH FLOWS FROM FINANCING ACTIVITIES
Net decrease in deposits(109,043)(94,578)
Net decrease in repurchase agreements(14,181)(13,126)
Net decrease (increase) in Federal Home Loan Bank advances(69,064)60,000 
Taxes paid related to the vesting of restricted stock units(181)(57)
Repurchase of common stock(7,488)(4,783)
Cash dividends and dividend equivalents paid(16,428)(13,953)
Net cash used in financing activities(216,385)(66,497)
NET DECREASE IN CASH AND CASH EQUIVALENTS(2,246)(331,053)
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR114,159 409,268 
CASH AND CASH EQUIVALENTS AT END OF PERIOD$111,913 $78,215 
See accompanying Notes to Consolidated Financial Statements (Unaudited)
8

HBT FINANCIAL, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS (CONTINUED)
(Unaudited)
Nine Months Ended September 30,
(dollars in thousands)20232022
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
Cash paid for interest$21,788 $4,851 
Cash paid for income taxes$15,867 $13,805 
SUPPLEMENTAL DISCLOSURES OF NONCASH INVESTING ACTIVITIES
Transfers of loans to foreclosed assets$1,049 $27 
Transfers of bank premises and equipment to bank premises held for sale$35 $ 
See accompanying Notes to Consolidated Financial Statements (Unaudited)
9

HBT FINANCIAL, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)
NOTE 1 – ACCOUNTING POLICIES
Basis of Presentation
HBT Financial, Inc. (“HBT Financial” or the “Company”) is headquartered in Bloomington, Illinois and is the holding company for Heartland Bank and Trust Company (“Heartland Bank” or the “Bank”). The Bank provides a comprehensive suite of business, commercial, wealth management and retail banking products and services to individuals, businesses, and municipal entities throughout Illinois and Eastern Iowa. Additionally, the Company is subject to the regulations of certain federal and state agencies and undergoes periodic examinations by those regulatory agencies.
The unaudited consolidated financial statements, including the notes thereto, have been prepared in accordance with accounting principles generally accepted in the U.S. (“GAAP”) interim reporting requirements. Certain information in footnote disclosures normally included in financial statements prepared in accordance with GAAP has been condensed or omitted pursuant to rules and regulations of the SEC. These interim unaudited consolidated financial statements and notes thereto should be read in conjunction with the Company’s audited consolidated financial statements and accompanying notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022, filed with the SEC on March 8, 2023.
The unaudited consolidated financial statements include all normal, recurring adjustments necessary for a fair presentation of the results for the interim periods. The results for interim periods are not necessarily indicative of results for a full year.
The Company qualifies as an "emerging growth company" as defined by the Jumpstart Our Business Startups Act (“JOBS Act”). The JOBS Act permits emerging growth companies an extended transition period for complying with new or revised accounting standards affecting public companies. The Company may remain an emerging growth company until the earliest to occur of: (1) the end of the fiscal year following the fifth anniversary of the completion of our initial public offering, which is December 31, 2024, (2) the last day of the fiscal year in which the Company has $1.235 billion or more in annual revenues, (3) the date on which the Company is deemed to be a “large accelerated filer” under the Securities Exchange Act of 1934, as amended, (the “Exchange Act”) or (4) the date on which the Company has, during the previous three year period, issued, publicly or privately, more than $1.0 billion in non-convertible debt securities. The Company has elected to use the extended transition period until the Company is no longer an emerging growth company or until the Company chooses to affirmatively and irrevocably opt out of the extended transition period. As a result, the Company’s financial statements may not be comparable to companies that comply with new or revised accounting pronouncements applicable to public companies.
Use of Estimates
The accompanying consolidated financial statements have been prepared in conformity with GAAP. In preparing the financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the balance sheet and the reported results of operations for the periods then ended.
Actual results could differ significantly from those estimates. Material estimates that are particularly susceptible to significant changes in the near term relate to the determination of the allowance for credit losses and fair value of assets acquired and liabilities assumed in business combinations.
Segment Reporting
The Company’s operations consist of one reportable segment. The Company’s chief operating decision maker evaluates the operations of the Company using consolidated information for purposes of allocating resources and assessing performance.
10

HBT FINANCIAL, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)
Reclassifications
Certain prior period amounts have been reclassified to conform to the current period presentation without any impact on the reported amounts of net income or stockholders’ equity.
Subsequent Events
In preparing these consolidated financial statements, the Company has evaluated events and transactions for potential recognition or disclosure through the date the financial statements were issued.
Impact of Recently Adopted Accounting Standards
On January 1, 2023, the Company adopted Accounting Standards Update (“ASU”) 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, as amended, which replaces the incurred loss methodology with an expected loss methodology, commonly referred to as the current expected credit losses (“CECL”) methodology. The measurement of expected credit losses under the CECL methodology is applicable to financial assets measured at amortized cost, including loan receivables and debt securities held-to-maturity. It also applies to off-balance sheet credit exposures not accounted for as insurance, such as loan commitments and letters of credit. In addition, Accounting Standards Codification (“ASC”) 326 made changes to the accounting for debt securities available-for-sale. One such change is to require credit losses be presented as an allowance rather than as a write-down on debt securities available-for-sale management does not intend to sell or believes that it is more likely than not they will be required to sell.
The Company adopted ASC 326 using the modified retrospective method for all financial assets measured at amortized cost and off-balance sheet credit exposures. Results for reporting periods beginning after December 31, 2022 are presented under ASC 326 while prior period amounts continue to be reported in accordance with previously applicable GAAP. The Company recorded a net decrease to retained earnings of $6.9 million as of January 1, 2023 for the cumulative effect of adopting ASC 326. The following table illustrates the impact of ASC 326 on the allowance for credit losses:
January 1, 2023
(dollars in thousands)Pre-ASC 326
Adoption
Impact of
ASC 326 Adoption
As Reported
under ASC 326
Assets:
Allowance for credit losses on loans
Commercial and industrial$3,279$(822)$2,457
Commercial real estate - owner occupied1,1935871,780
Commercial real estate - non-owner occupied6,7215017,222
Construction and land development4,2231,9696,192
Multi-family1,472851,557
One-to-four family residential1,7597972,556
Agricultural and farmland7961,5672,363
Municipal, consumer, and other5,8902,2998,189
Allowance for credit losses on loans$25,333$6,983$32,316
Liabilities:
Allowance for credit losses on unfunded commitments$$2,899$2,899

11

HBT FINANCIAL, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)
The Company also adopted ASC 326 using the prospective transition approach for purchase credit deteriorated (“PCD”) financial assets that were previously classified as purchased credit impaired (“PCI”) and accounted for under ASC 310-30. In accordance with ASC 326, management did not reassess whether PCI assets met the criteria of PCD assets as of the date of adoption. On January 1, 2023, the amortized cost basis of the PCD assets were adjusted to reflect the addition of $0.2 million to the allowance for credit losses. The remaining noncredit discount will be accreted into interest income at the effective interest rate as of January 1, 2023.
On January 1, 2023, the Company also adopted ASU 2022-02, Financial Instruments - Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures. ASU 2022-02 eliminates the recognition and measurement guidance for troubled debt restructurings (“TDRs”) by creditors in ASC 310-40. This ASU also enhances disclosure requirements for certain loan restructurings by creditors when a borrower is experiencing financial difficulty. Specifically, rather than applying the recognition and measurement guidance for TDRs, an entity will apply refinancing and restructuring guidance to determine whether a modification or other form of restructuring results in a new loan or a continuation of an existing loan. Additionally, the amendments in ASU 2022-02 require a public business entity to disclosure current-period gross write-offs by year of origination for financing receivables and net investments in leases in the existing vintage disclosures. This standard did not have a material impact on the Company’s consolidated results of operations or financial position.
Recent Accounting Pronouncements
In June 2022, the FASB issued ASU 2022-03, Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions. ASU 2022-03 clarifies that a contractual restriction on the sale of an equity security is not considered part of the unit of account of the equity security and, therefore, is not considered in measuring fair value and that contractual sale restrictions cannot be recognized and measured as a separate unit of account. The amendments in this update are effective for years beginning after December 15, 2023, including interim periods within those years. This standard is not expected to have a material impact on the Company’s consolidated results of operations or financial position.
In March 2022, the FASB issued ASU 2022-01, Derivatives and Hedging (Topic 815): Fair Value Hedging – Portfolio Layer Method. ASU 2022-01 replaces the current last-of-layer hedge accounting method with an expanded portfolio layer method that permits multiple hedged layers of a single closed portfolio. The scope of the portfolio layer method is also expanded to include non-prepayable financial assets. ASU 2022-01 also provides additional guidance on the accounting for and disclosure of hedge basis adjustments that are applicable to the portfolio layer method, and specifies how hedge basis adjustments should be considered when determining credit losses for the assets included in the closed portfolio. Amendments related to hedge basis adjustments which are included in this standard apply on a modified retrospective basis by means of a cumulative-effect adjustment to the opening balance of retained earnings on the initial application date. Amendments related to hedge basis adjustments which are included in this standard apply on a modified retrospective basis by means of a cumulative-effect adjustment to the opening balance of retained earnings on the initial application date. Amendments related to disclosure which are included in this standard may be applied on a prospective basis from the initial application date, or on a retrospective basis to each prior period presented after the date of adoption of the amendments in ASU 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities. The amendments in this update are effective for years beginning after December 15, 2023, including interim periods within those years. Early adoption is permitted. This standard is not expected to have a material impact on the Company’s consolidated results of operations or financial position.

12

HBT FINANCIAL, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)
In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. ASU 2020-04 provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform, if certain criteria are met. In January 2021, the FASB also issued ASU 2021-01, Reference Rate Reform (Topic 848): Scope, which refined the scope for certain optional expedients and exceptions for contract modifications and hedge accounting to apply to derivative contracts and certain hedging relationships affected by the discounting transition. Entities may apply the provisions as of the beginning of the reporting period when the election is made and are available until December 31, 2024. The Company is currently evaluating the effect that this standard will have on the consolidated results of operations and financial position.
In March 2023, the FASB issued ASU 2023-02, Investments—Equity Method and Joint Ventures (Topic 323). ASU 2023-02 permits an election to use the proportional amortization method to account for equity investments made primarily for the purpose of receiving income tax credits and other income tax benefits, regardless of the tax credit program from which the income tax credits are received, provided that certain conditions are met. The proportional amortization method results in the cost of the investment being amortized in proportion to the income tax credits and other income tax benefits received, with the amortization of the investment and the income tax credits being presented net in the income statement as a component of income tax expense. ASU 2023-02 must be applied on a retrospective or modified retrospective basis, and is applicable for the Company beginning after December 15, 2023. Early adoption is permitted. The Company is currently evaluating the effect that this standard will have on the consolidated results of operations and financial position.
13

HBT FINANCIAL, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)
NOTE 2 – ACQUISITIONS
Town and Country Financial Corporation
On February 1, 2023, HBT Financial acquired 100% of the issued and outstanding common stock of Town and Country Financial Corporation (“Town and Country”), the holding company for Town and Country Bank, pursuant to an Agreement and Plan of Merger dated August 23, 2022. Under the Agreement and Plan of Merger, Town and Country merged with and into HBT Financial, with HBT Financial as the surviving entity, immediately followed by the merger of Town and Country Bank with and into Heartland Bank, with Heartland Bank as the surviving entity.
At the effective time of the merger, each share of Town and Country was converted into the right to receive, subject to the election and proration procedures as provided in the Merger Agreement, one of the following: (i) 1.9010 shares of HBT Financial’s common stock, or (ii) $35.66 in cash, or (iii) a combination of cash and HBT Financial common stock. Total consideration consisted of 3,378,600 shares of HBT Financial’s common stock and $38.0 million in cash. In lieu of fractional shares, holders of Town and Country common stock received cash. Based upon the closing price of HBT Financial common stock of $21.12 on February 1, 2023, the aggregate transaction value was approximately $109.4 million.
This transaction was accounted for using the acquisition method of accounting and, accordingly, assets acquired, liabilities assumed, and consideration exchanged were recorded at estimated fair values on the date of acquisition. Fair values are subject to refinement for up to one year after the closing date of February 1, 2023. Measurement period adjustments of $0.1 million were recorded in the third quarter of 2023 as more information became available regarding Town and Country's tax assets and liabilities. Goodwill of $30.5 million was recorded in the acquisition, which reflects expected synergies from combining the operations of HBT Financial and Town and Country, and is nondeductible for tax purposes.
The acquisition of Town and Country further enhanced HBT Financial’s footprint in Central Illinois, and expanded our footprint into metro-east St. Louis. During the three and nine months ended September 30, 2023 and 2022, HBT Financial incurred the following expenses related to the acquisition of Town and Country:
Three Months EndedNine Months Ended
(dollars in thousands)September 30, 2023September 30, 2022September 30, 2023September 30, 2022
PROVISION FOR CREDIT LOSSES$$$5,924$
NONINTEREST EXPENSE
Salaries3,584
Furniture and equipment39
Data processing2,031
Marketing and customer relations24
Loan collection and servicing125
Legal fees and other noninterest expense4621,964462
Total noninterest expense4627,767462
Total acquisition-related expenses$$462$13,691$462
14

HBT FINANCIAL, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)
The fair value of the assets acquired and liabilities assumed from Town and Country on the acquisition date of February 1, 2023 were as follows (dollars in thousands):
Fair Value
Assets acquired:
Cash and cash equivalents$23,542
Interest-bearing time deposits with banks249
Debt securities167,869
Equity securities90
Restricted stock2,822
Loans held for sale1,612
Loans, before allowance for credit losses635,376
Allowance for credit losses(1,247)
Loans, net of allowance for credit losses634,129
Bank owned life insurance15,782
Bank premises and equipment14,828
Foreclosed assets271
Intangible assets22,282
Mortgage servicing rights10,469
Investments in unconsolidated subsidiaries449
Accrued interest receivable3,113
Other assets9,151
Total assets acquired906,658
Liabilities assumed:
Deposits720,417
FHLB advances86,439
Junior subordinated debentures14,949
Other liabilities5,999
Total liabilities assumed827,804
Net assets acquired$78,854
Consideration paid:
Cash$37,996
Common stock71,356
Total consideration paid$109,352
Goodwill$30,498
15

HBT FINANCIAL, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)
Of the loans acquired, there were $89.8 million which exhibited more-than-insignificant credit deterioration on the acquisition date. The following table provides a summary of these PCD loans at acquisition (dollars in thousands):
Unpaid principal balance$89,822
Allowance for credit losses at acquisition(1,247)
Non-credit discount(2,218)
Purchase price$86,357
Additionally, subsequent to the Town and Country acquisition, HBT Financial recognized an allowance for credit losses on non-PCD loans of $5.2 million and an allowance for credit losses on unfunded commitments of $0.7 million through an increase to the provision for credit losses.
The following table provides the pro forma information for the results of operations for the three and nine months ended September 30, 2023 and 2022, as if the acquisition of Town and Country had occurred on January 1, 2022. The pro forma results combine the historical results of Town and Country into HBT Financial’s consolidated statements of income, including the impact of certain acquisition accounting adjustments, which include loan discount accretion, intangible assets amortization, deposit premium amortization, and borrowing premium amortization. The pro forma results have been prepared for comparative purposes only and are not necessarily indicative of the results that would have been obtained had the acquisition actually occurred on January 1, 2022. No assumptions have been applied to the pro forma results of operations regarding possible revenue enhancements, provision for credit losses, expense efficiencies or asset dispositions. The acquisition-related expenses that have been recognized are included in net income in the following table.
Pro FormaPro Forma
Three Months Ended September 30,Nine Months Ended September 30,
(dollars in thousands, except per share data)2023202220232022
Total revenues (net interest income and noninterest income)$57,459$56,902$174,015$164,845
Net income19,49718,20747,69752,617
Earnings per share - basic0.610.571.491.63
Earnings per share - diluted0.610.561.491.63
16

HBT FINANCIAL, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)
NOTE 3 – SECURITIES
Debt Securities
The amortized cost and fair values of debt securities, with gross unrealized gains and losses and allowance for credit losses, are as follows:
September 30, 2023
(dollars in thousands)Amortized Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Allowance for Credit LossesFair Value
Available-for-sale:
U.S. Treasury$169,751$$(