HBT Financial Inc. (NASDAQ:HBT) reported first-quarter results on Monday that exceeded expectations, supported by the recent acquisition of CNB Bank Shares, with the stock rising 2.10% in pre-market trading.
Adjusted earnings per share came in at $0.68, ahead of analyst forecasts of $0.62, while revenue reached $67.33 million, surpassing estimates of $66.75 million.
The company finalised its acquisition of CNB Bank Shares Inc. on March 1, 2026, adding approximately $1.8 billion in assets to its balance sheet.
On a GAAP basis, net income declined to $11.2 million, or $0.34 per diluted share, compared with $19.1 million, or $0.60 per share, in the same quarter last year.
However, adjusted net income increased to $22.6 million, or $0.68 per diluted share, up from $19.3 million, or $0.61 per share a year earlier. Total revenue rose 16.1% year-over-year from $58.0 million.
Net interest income grew 15.8% to $56.4 million, driven by a higher level of interest-earning assets following the CNB deal, along with improved yields on debt securities.
The bank’s net interest margin, on a tax-equivalent basis, expanded by 9 basis points to 4.25% compared with both the prior quarter and the same period last year.
“We are off to a great start in 2026 with the closing of our acquisition of CNB and its wholly-owned subsidiary, CNB Bank & Trust, N.A. on March 1,” said J. Lance Carter, President and Chief Executive Officer. “Results for the first quarter were strong and consistent with adjusted net income of $22.6 million, or $0.68 per diluted share.”
The quarter included $15.7 million in acquisition-related costs, mainly tied to data processing and personnel expenses.
Excluding these items, noninterest expenses increased by $4.7 million compared with the previous quarter, reflecting the higher cost base following the CNB integration.
Asset quality remained stable, with nonperforming assets at 0.21% of total assets and net charge-offs at 0.08% of average loans on an annualised basis.
The company also reported a negative provision for credit losses of $0.2 million.
At the end of the quarter, total loans stood at $4.69 billion, up from $3.46 billion at the end of 2025, including $1.30 billion added through the CNB acquisition. Deposits rose to $5.80 billion, compared with $4.36 billion at year-end.