HBT Financial beats estimates as CNB merger drives core growth

HBT Financial (NASDAQ:HBT) reported its first-quarter 2026 financial results on Monday, highlighting a transformative period following the completion of its acquisition of CNB Bank shares.

The Bloomington, Illinois-based holding company posted GAAP net income of $11.2 million, or $0.34 per diluted share.

When adjusting for $15.7 million in nonrecurring acquisition-related expenses, adjusted net income rose to $22.6 million, or $0.68 per diluted share, surpassing Wall Street expectations.

The merger with CNB, which closed on March 1, 2026, significantly scaled the company's balance sheet, adding approximately $1.8 billion in assets, $1.3 billion in loans, and $1.5 billion in deposits.

This influx of interest-earning assets, combined with higher yields from maturing securities, drove net interest income up 15.8% year-over-year.

The company’s net interest margin expanded to 4.20%, or 4.25% on a tax-equivalent basis, reflecting efficient asset repricing in a competitive market.

HBT also maintained a conservative risk profile during the integration, reporting nonperforming assets at a low 0.21% of total assets and net charge-offs of 0.08% on an annualized basis.

To further bolster its capital position, the company completed a private placement of $85 million in subordinated notes during the quarter.