10-Q · May 6, 2026
HBT Financial, Inc. reported a strong Q1 2026 performance, with revenue of $67.33 million, exceeding the $66.95 million estimate, and an EPS of $0.68, surpassing expectations of $0.62. Key growth drivers included…
Earnings analysis · 10-Q
HBT earnings analysis
Filed August 7, 2026 · Our reading of the company's report
The latest report
HBT delivered a meaningful earnings recovery in Q2 2026, with diluted EPS of $0.76 versus $0.34 in Q1 2026 and $0.61 in Q2 2025, while revenue increased 10.8% year over year to $80.897 million. Net interest income of…
Read full summary
HBT delivered a meaningful earnings recovery in Q2 2026, with diluted EPS of $0.76 versus $0.34 in Q1 2026 and $0.61 in Q2 2025, while revenue increased 10.8% year over year to $80.897 million. Net interest income of $69.056 million and a 4.32% net interest margin supported results, but the quarter’s revenue was approximately 2.5% below Q1. The 10-Q contains no numerical guidance and reports no material changes to previously disclosed risk factors; interest-rate sensitivity remains the principal quantified risk.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.76
What stood out
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Revenue up year over year
Q2 2026 operating revenue was $80.897 million, up approximately 10.8% from $73 million in Q2 2025, although down approximately 2.5% from $83 million in Q1 2026.
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Earnings recovery
GAAP diluted EPS was $0.76, compared with $0.61 in Q2 2025 and $0.34 in Q1 2026, reflecting substantial year-over-year and sequential earnings recovery.
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Net interest income supported results
Net interest income was $69.056 million and net interest margin was 4.32%, supporting the quarter’s revenue and earnings performance.
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Lower deposit beta in falling-rate cycle
The company’s cumulative deposit beta was 8.9% during the current falling-rate cycle, versus 23.6% during the 2021–2024 rising-rate cycle, indicating lower deposit-cost sensitivity to rate changes so far.
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Controls remain effective
Disclosure controls and procedures were effective as of June 30, 2026, and the company reported no changes in internal control over financial reporting that materially affected, or were reasonably likely to materially affect, controls.
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Share repurchases continued
The company repurchased 15,466 shares in Q2 2026 at an average price of $27.53, leaving approximately $13.997 million available under its repurchase authorization.
What to watch
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Material interest-rate sensitivity
The rate-sensitivity analysis indicates that an immediate parallel 400-basis-point rate decline could reduce estimated net interest income by 4.3% in year one and 23.1% in year two; a 400-basis-point increase was modeled to increase it by 6.5% and 17.2%, respectively.
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Balance-sheet value sensitivity
The company’s estimated EVE would decline 13.3% under a 400-basis-point increase and 13.3% under a 400-basis-point decrease, underscoring balance-sheet valuation sensitivity to major rate shocks.
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No formal risk-factor change
The 10-Q states that there were no material changes to the risk factors disclosed in the 2025 Form 10-K, but it also identifies heightened legal and regulatory compliance and litigation risk across consumer protection, fair lending, privacy, information security, and anti-money-laundering requirements.
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Capital allocation flexibility
The company’s $30.0 million repurchase authorization had approximately $13.997 million remaining at June 30, 2026; continued repurchases could reduce capital flexibility if market or regulatory conditions deteriorate.
Management's outlook
The 10-Q provides no numeric revenue or EPS guidance. Management previously stated it does not expect material CNB-merger acquisition-related expenses in subsequent quarters.
Earlier filings 4
10-K · March 6, 2026
HBT Financial reports a stable, profitable community-bank model with $5.1 billion in total assets, $3.5 billion of loans held for investment and $4.4 billion of deposits as of December 31, 2025. Management is pursuing…
10-Q · October 31, 2025
HBT Financial reported solid results for Q3 2025, with a revenue of $74 million, reflecting steady growth from the previous quarter as well as the prior year. EPS improved slightly to $0.63, driven by enhanced margins,…
10-Q · May 2, 2025
HBT reported a beat on both revenue and EPS for the quarter ended March 31, 2025, with net revenue of $58,014,000 and diluted EPS of $0.60 (vs $52,314,000 and $0.48 in 1Q24). Noninterest income was a key driver, rising…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.