HBT Financial, Inc. (NASDAQ: HBT)

HBT Financial, also known as HBT Financial, Inc., is a bank holding company based in Bloomington, Illinois, operating under the ticker symbol HBT. The company specializes in providing a wide range of financial products and services to consumers, businesses, and municipal entities across Illinois and Eastern Iowa, through its bank subsidiary, Heartland Bank and Trust Company.

HBT Financial's primary business activities include deposit-taking, lending, and offering ancillary products. The company's deposit products include noninterest-bearing demand deposits, interest-bearing transaction accounts, money market accounts, savings accounts, certificates of deposits, HSA, and IRA accounts. The lending products offered by HBT Financial consist of commercial real estate, commercial and industrial, agriculture, and residential mortgages.

The company's commercial real estate lending products include non-owner occupied commercial real estate, construction and land development, and owner-occupied commercial real estate. HBT Financial provides financing for a wide variety of property types, including multi-family, retail, warehouse, office, senior living, and hotel/motel. The commercial and industrial lending products include loans for working capital and equipment needs, focusing on small and middle-market businesses. HBT Financial has a long history of financing agriculture production and land, providing loans to agriculture producers for input costs, equipment, and land, with most of its agriculture loans going to family farms growing corn and soybeans. The one-to-four family residential lending products include both owner-occupied and non-owner occupied one-to-four family homes and condominiums, offering first mortgage amortizing loans, second mortgage amortizing loans, and home equity lines of credit.

HBT Financial's position within the industry is strengthened by its strong presence in Central Illinois and Eastern Iowa, operating 67 full-service branch locations. The company's management believes its diverse footprint in both urban and rural markets provides access to high-quality, stable funding sources and loan growth opportunities. The company's primary competitors include community banks, money center banks, and non-bank financial services companies, with direct competition for loans coming from commercial banks, savings banks, mortgage banking companies, the U.S. Government, credit unions, leasing companies, insurance companies, real estate conduits, and other financial services providers. For deposits, HBT Financial competes with commercial banks, credit unions, and online financial institutions.

In terms of revenue generation, HBT Financial's primary customer base includes small and middle-market businesses, agriculture producers, and individual consumers seeking financial products and services. The company's products and services are offered under various brand names, including Heartland Bank and Trust Company, its primary brand, and other trade names such as HBT Financial, HSA, and IRA accounts.