0000775215--12-312021Q3false00000000000000000000000000000000P3YP4Yhttp://fasb.org/us-gaap/2021-01-31#ValuationTechniqueDiscountedCashFlowMemberhttp://fasb.org/us-gaap/2021-01-31#ValuationTechniqueDiscountedCashFlowMemberhttp://hbtbank.com/20210930#AppraisalAdjustmentsMemberhttp://hbtbank.com/20210930#AppraisalAdjustmentsMemberhttp://hbtbank.com/20210930#AppraisalAdjustmentsMemberhttp://hbtbank.com/20210930#AppraisalAdjustmentsMemberhttp://hbtbank.com/20210930#AppraisalAdjustmentsMemberhttp://hbtbank.com/20210930#AppraisalAdjustmentsMember0000775215us-gaap:TreasuryStockCommonMember2021-07-012021-09-300000775215us-gaap:TreasuryStockCommonMember2021-01-012021-09-300000775215us-gaap:CommonStockMember2021-07-012021-09-300000775215hbt:PeriodOneMemberus-gaap:SubordinatedDebtMember2020-09-032020-09-030000775215us-gaap:CommonStockMember2021-01-012021-09-300000775215us-gaap:TreasuryStockCommonMember2021-09-300000775215us-gaap:RetainedEarningsMember2021-09-300000775215us-gaap:AociDerivativeQualifyingAsHedgeExcludedComponentParentMember2021-09-300000775215us-gaap:AdditionalPaidInCapitalMember2021-09-300000775215us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-09-300000775215us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2021-09-300000775215hbt:AociAccumulatedGainLossDebtSecuritiesHeldToMaturityParentMember2021-09-300000775215us-gaap:TreasuryStockCommonMember2021-06-300000775215us-gaap:RetainedEarningsMember2021-06-300000775215us-gaap:AociDerivativeQualifyingAsHedgeExcludedComponentParentMember2021-06-300000775215us-gaap:AdditionalPaidInCapitalMember2021-06-300000775215us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-06-300000775215us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2021-06-300000775215hbt:AociAccumulatedGainLossDebtSecuritiesHeldToMaturityParentMember2021-06-300000775215us-gaap:RetainedEarningsMember2020-12-310000775215us-gaap:AociDerivativeQualifyingAsHedgeExcludedComponentParentMember2020-12-310000775215us-gaap:AdditionalPaidInCapitalMember2020-12-310000775215us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-12-310000775215us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2020-12-310000775215hbt:AociAccumulatedGainLossDebtSecuritiesHeldToMaturityParentMember2020-12-310000775215us-gaap:RetainedEarningsMember2020-09-300000775215us-gaap:AociDerivativeQualifyingAsHedgeExcludedComponentParentMember2020-09-300000775215us-gaap:AdditionalPaidInCapitalMember2020-09-300000775215us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-09-300000775215us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2020-09-300000775215hbt:AociAccumulatedGainLossDebtSecuritiesHeldToMaturityParentMember2020-09-300000775215us-gaap:RetainedEarningsMember2020-06-300000775215us-gaap:AociDerivativeQualifyingAsHedgeExcludedComponentParentMember2020-06-300000775215us-gaap:AdditionalPaidInCapitalMember2020-06-300000775215us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-06-300000775215us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2020-06-300000775215hbt:AociAccumulatedGainLossDebtSecuritiesHeldToMaturityParentMember2020-06-300000775215us-gaap:RetainedEarningsMember2019-12-310000775215us-gaap:AociDerivativeQualifyingAsHedgeExcludedComponentParentMember2019-12-310000775215us-gaap:AdditionalPaidInCapitalMember2019-12-310000775215us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-12-310000775215us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2019-12-310000775215hbt:AociAccumulatedGainLossDebtSecuritiesHeldToMaturityParentMember2019-12-310000775215us-gaap:CommonStockMember2021-09-300000775215us-gaap:CommonStockMember2021-06-300000775215us-gaap:CommonStockMember2020-12-310000775215us-gaap:CommonStockMember2020-09-300000775215us-gaap:CommonStockMember2020-06-300000775215us-gaap:CommonStockMember2019-12-310000775215hbt:OmnibusIncentivePlanMember2019-10-090000775215us-gaap:StockAppreciationRightsSARSMember2020-01-012020-12-310000775215us-gaap:RestrictedStockUnitsRSUMemberus-gaap:ShareBasedPaymentArrangementEmployeeMember2021-02-192021-02-190000775215srt:WeightedAverageMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputDiscountRateMember2021-09-300000775215srt:WeightedAverageMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputConstantPrepaymentRateMember2021-09-300000775215srt:MinimumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputDiscountRateMember2021-09-300000775215srt:MinimumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputConstantPrepaymentRateMember2021-09-300000775215srt:MaximumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputDiscountRateMember2021-09-300000775215srt:MaximumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputConstantPrepaymentRateMember2021-09-300000775215srt:WeightedAverageMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputDiscountRateMember2020-12-310000775215srt:WeightedAverageMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputConstantPrepaymentRateMember2020-12-310000775215srt:MinimumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputDiscountRateMember2020-12-310000775215srt:MinimumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputConstantPrepaymentRateMember2020-12-310000775215srt:MaximumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputDiscountRateMember2020-12-310000775215srt:MaximumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputConstantPrepaymentRateMember2020-12-310000775215us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputConstantPrepaymentRateMember2021-09-300000775215us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2021-09-300000775215hbt:MortgageServicingAssetsMember2021-09-300000775215hbt:MortgageServicingAssetsMember2021-06-300000775215us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputConstantPrepaymentRateMember2020-12-310000775215us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2020-12-310000775215hbt:MortgageServicingAssetsMember2020-12-310000775215hbt:MortgageServicingAssetsMember2020-09-300000775215hbt:MortgageServicingAssetsMember2020-06-300000775215hbt:MortgageServicingAssetsMember2019-12-310000775215hbt:WealthManagementFeesMember2021-07-012021-09-300000775215hbt:ServiceChargesOnDepositAccountsMember2021-07-012021-09-300000775215hbt:CardIncomeMember2021-07-012021-09-300000775215hbt:WealthManagementFeesMember2021-01-012021-09-300000775215hbt:ServiceChargesOnDepositAccountsMember2021-01-012021-09-300000775215hbt:CardIncomeMember2021-01-012021-09-300000775215hbt:WealthManagementFeesMember2020-07-012020-09-300000775215hbt:ServiceChargesOnDepositAccountsMember2020-07-012020-09-300000775215hbt:CardIncomeMember2020-07-012020-09-300000775215hbt:WealthManagementFeesMember2020-01-012020-09-300000775215hbt:ServiceChargesOnDepositAccountsMember2020-01-012020-09-300000775215hbt:CardIncomeMember2020-01-012020-09-300000775215hbt:MultiFamilyLoansMember2021-07-012021-09-300000775215us-gaap:CashFlowHedgingMemberus-gaap:InterestExpenseMember2021-07-012021-09-300000775215us-gaap:CashFlowHedgingMember2021-07-012021-09-300000775215us-gaap:CashFlowHedgingMemberus-gaap:InterestExpenseMember2021-01-012021-09-300000775215us-gaap:CashFlowHedgingMember2021-01-012021-09-300000775215us-gaap:CashFlowHedgingMemberus-gaap:InterestExpenseMember2020-07-012020-09-300000775215us-gaap:CashFlowHedgingMember2020-07-012020-09-300000775215us-gaap:CashFlowHedgingMemberus-gaap:InterestIncomeMember2020-01-012020-09-300000775215us-gaap:CashFlowHedgingMemberus-gaap:InterestExpenseMember2020-01-012020-09-300000775215us-gaap:CashFlowHedgingMember2020-01-012020-09-300000775215hbt:AociAccumulatedGainLossDebtSecuritiesHeldToMaturityParentMember2021-07-012021-09-300000775215hbt:AociAccumulatedGainLossDebtSecuritiesHeldToMaturityParentMember2020-07-012020-09-300000775215hbt:AociAccumulatedGainLossDebtSecuritiesHeldToMaturityParentMember2020-01-012020-09-300000775215us-gaap:AociDerivativeQualifyingAsHedgeExcludedComponentParentMember2021-07-012021-09-300000775215us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-07-012021-09-300000775215us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2021-07-012021-09-300000775215us-gaap:AociDerivativeQualifyingAsHedgeExcludedComponentParentMember2021-01-012021-09-300000775215us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-01-012021-09-300000775215us-gaap:AociDerivativeQualifyingAsHedgeExcludedComponentParentMember2020-07-012020-09-300000775215us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-07-012020-09-300000775215us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2020-07-012020-09-300000775215us-gaap:AociDerivativeQualifyingAsHedgeExcludedComponentParentMember2020-01-012020-09-300000775215us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-01-012020-09-300000775215us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2020-01-012020-09-300000775215us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2021-01-012021-09-300000775215hbt:AociAccumulatedGainLossDebtSecuritiesHeldToMaturityParentMember2021-01-012021-09-300000775215hbt:OneToFourFamilyResidentialMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2021-09-300000775215hbt:OneToFourFamilyResidentialMemberhbt:FinancingReceivables30To89DaysPastDueMember2021-09-300000775215hbt:MunicipalConsumerAndOtherMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2021-09-300000775215hbt:MunicipalConsumerAndOtherMemberhbt:FinancingReceivables30To89DaysPastDueMember2021-09-300000775215hbt:CommercialRealEstateOwnerOccupiedMemberhbt:FinancingReceivables30To89DaysPastDueMember2021-09-300000775215hbt:CommercialAndIndustrialMemberhbt:FinancingReceivables30To89DaysPastDueMember2021-09-300000775215us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2021-09-300000775215hbt:FinancingReceivables30To89DaysPastDueMember2021-09-300000775215hbt:OneToFourFamilyResidentialMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-12-310000775215hbt:OneToFourFamilyResidentialMemberhbt:FinancingReceivables30To89DaysPastDueMember2020-12-310000775215hbt:MunicipalConsumerAndOtherMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-12-310000775215hbt:MunicipalConsumerAndOtherMemberhbt:FinancingReceivables30To89DaysPastDueMember2020-12-310000775215hbt:CommercialRealEstateOwnerOccupiedMemberhbt:FinancingReceivables30To89DaysPastDueMember2020-12-310000775215us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-12-310000775215hbt:FinancingReceivables30To89DaysPastDueMember2020-12-310000775215hbt:OneToFourFamilyResidentialRealEstatePropertyMember2021-09-300000775215hbt:OneToFourFamilyResidentialRealEstatePropertyMember2020-12-310000775215us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMember2021-09-300000775215us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMember2020-12-310000775215us-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberhbt:CommercialAndIndustrialMember2021-09-300000775215us-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberhbt:AgriculturalAndFarmlandMember2021-09-300000775215hbt:OneToFourFamilyResidentialMemberus-gaap:SubstandardMember2021-09-300000775215hbt:OneToFourFamilyResidentialMemberus-gaap:PassMember2021-09-300000775215hbt:OneToFourFamilyResidentialMemberhbt:PassWatchMember2021-09-300000775215hbt:MunicipalConsumerAndOtherMemberus-gaap:SubstandardMember2021-09-300000775215hbt:MunicipalConsumerAndOtherMemberus-gaap:PassMember2021-09-300000775215hbt:MunicipalConsumerAndOtherMemberhbt:PaycheckProtectionProgramLoansMember2021-09-300000775215hbt:MunicipalConsumerAndOtherMemberhbt:PassWatchMember2021-09-300000775215hbt:MultiFamilyLoansMemberus-gaap:PassMember2021-09-300000775215hbt:MultiFamilyLoansMemberhbt:PassWatchMember2021-09-300000775215hbt:ConstructionAndLandDevelopmentMemberus-gaap:SubstandardMember2021-09-300000775215hbt:ConstructionAndLandDevelopmentMemberus-gaap:PassMember2021-09-300000775215hbt:ConstructionAndLandDevelopmentMemberhbt:PassWatchMember2021-09-300000775215hbt:CommercialRealEstateOwnerOccupiedMemberus-gaap:SubstandardMember2021-09-300000775215hbt:CommercialRealEstateOwnerOccupiedMemberus-gaap:PassMember2021-09-300000775215hbt:CommercialRealEstateOwnerOccupiedMemberhbt:PassWatchMember2021-09-300000775215hbt:CommercialRealEstateNonOwnerOccupiedMemberus-gaap:SubstandardMember2021-09-300000775215hbt:CommercialRealEstateNonOwnerOccupiedMemberus-gaap:PassMember2021-09-300000775215hbt:CommercialRealEstateNonOwnerOccupiedMemberhbt:PassWatchMember2021-09-300000775215hbt:CommercialAndIndustrialMemberus-gaap:SubstandardMember2021-09-300000775215hbt:CommercialAndIndustrialMemberus-gaap:PassMember2021-09-300000775215hbt:CommercialAndIndustrialMemberhbt:PaycheckProtectionProgramLoansMember2021-09-300000775215hbt:CommercialAndIndustrialMemberhbt:PassWatchMember2021-09-300000775215hbt:AgriculturalAndFarmlandMemberus-gaap:SubstandardMember2021-09-300000775215hbt:AgriculturalAndFarmlandMemberus-gaap:PassMember2021-09-300000775215hbt:AgriculturalAndFarmlandMemberhbt:PaycheckProtectionProgramLoansMember2021-09-300000775215hbt:AgriculturalAndFarmlandMemberhbt:PassWatchMember2021-09-300000775215us-gaap:SubstandardMember2021-09-300000775215us-gaap:PassMember2021-09-300000775215hbt:PaycheckProtectionProgramLoansMember2021-09-300000775215hbt:PassWatchMember2021-09-300000775215us-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberhbt:CommercialAndIndustrialMember2020-12-310000775215us-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberhbt:AgriculturalAndFarmlandMember2020-12-310000775215hbt:OneToFourFamilyResidentialMemberus-gaap:SubstandardMember2020-12-310000775215hbt:OneToFourFamilyResidentialMemberus-gaap:PassMember2020-12-310000775215hbt:OneToFourFamilyResidentialMemberhbt:PassWatchMember2020-12-310000775215hbt:MunicipalConsumerAndOtherMemberus-gaap:SubstandardMember2020-12-310000775215hbt:MunicipalConsumerAndOtherMemberus-gaap:PassMember2020-12-310000775215hbt:MunicipalConsumerAndOtherMemberhbt:PaycheckProtectionProgramLoansMember2020-12-310000775215hbt:MunicipalConsumerAndOtherMemberhbt:PassWatchMember2020-12-310000775215hbt:MultiFamilyLoansMemberus-gaap:SubstandardMember2020-12-310000775215hbt:MultiFamilyLoansMemberus-gaap:PassMember2020-12-310000775215hbt:MultiFamilyLoansMemberhbt:PassWatchMember2020-12-310000775215hbt:ConstructionAndLandDevelopmentMemberus-gaap:SubstandardMember2020-12-310000775215hbt:ConstructionAndLandDevelopmentMemberus-gaap:PassMember2020-12-310000775215hbt:ConstructionAndLandDevelopmentMemberhbt:PassWatchMember2020-12-310000775215hbt:CommercialRealEstateOwnerOccupiedMemberus-gaap:SubstandardMember2020-12-310000775215hbt:CommercialRealEstateOwnerOccupiedMemberus-gaap:PassMember2020-12-310000775215hbt:CommercialRealEstateOwnerOccupiedMemberhbt:PassWatchMember2020-12-310000775215hbt:CommercialRealEstateNonOwnerOccupiedMemberus-gaap:SubstandardMember2020-12-310000775215hbt:CommercialRealEstateNonOwnerOccupiedMemberus-gaap:PassMember2020-12-310000775215hbt:CommercialRealEstateNonOwnerOccupiedMemberhbt:PassWatchMember2020-12-310000775215hbt:CommercialAndIndustrialMemberus-gaap:SubstandardMember2020-12-310000775215hbt:CommercialAndIndustrialMemberus-gaap:PassMember2020-12-310000775215hbt:CommercialAndIndustrialMemberhbt:PaycheckProtectionProgramLoansMember2020-12-310000775215hbt:CommercialAndIndustrialMemberhbt:PassWatchMember2020-12-310000775215hbt:AgriculturalAndFarmlandMemberus-gaap:SubstandardMember2020-12-310000775215hbt:AgriculturalAndFarmlandMemberus-gaap:PassMember2020-12-310000775215hbt:AgriculturalAndFarmlandMemberhbt:PaycheckProtectionProgramLoansMember2020-12-310000775215hbt:AgriculturalAndFarmlandMemberhbt:PassWatchMember2020-12-310000775215us-gaap:SubstandardMember2020-12-310000775215us-gaap:PassMember2020-12-310000775215hbt:PaycheckProtectionProgramLoansMember2020-12-310000775215hbt:PassWatchMember2020-12-310000775215hbt:OneToFourFamilyResidentialMember2021-06-300000775215hbt:MunicipalConsumerAndOtherMember2021-06-300000775215hbt:MultiFamilyLoansMember2021-06-300000775215hbt:ConstructionAndLandDevelopmentMember2021-06-300000775215hbt:CommercialRealEstateOwnerOccupiedMember2021-06-300000775215hbt:CommercialRealEstateNonOwnerOccupiedMember2021-06-300000775215hbt:CommercialAndIndustrialMember2021-06-300000775215hbt:AgriculturalAndFarmlandMember2021-06-300000775215hbt:OneToFourFamilyResidentialMember2020-09-300000775215hbt:MunicipalConsumerAndOtherMember2020-09-300000775215hbt:MultiFamilyLoansMember2020-09-300000775215hbt:ConstructionAndLandDevelopmentMember2020-09-300000775215hbt:CommercialRealEstateOwnerOccupiedMember2020-09-300000775215hbt:CommercialRealEstateNonOwnerOccupiedMember2020-09-300000775215hbt:CommercialAndIndustrialMember2020-09-300000775215hbt:AgriculturalAndFarmlandMember2020-09-300000775215hbt:OneToFourFamilyResidentialMember2020-06-300000775215hbt:MunicipalConsumerAndOtherMember2020-06-300000775215hbt:MultiFamilyLoansMember2020-06-300000775215hbt:ConstructionAndLandDevelopmentMember2020-06-300000775215hbt:CommercialRealEstateOwnerOccupiedMember2020-06-300000775215hbt:CommercialRealEstateNonOwnerOccupiedMember2020-06-300000775215hbt:CommercialAndIndustrialMember2020-06-300000775215hbt:AgriculturalAndFarmlandMember2020-06-300000775215hbt:OneToFourFamilyResidentialMember2019-12-310000775215hbt:MunicipalConsumerAndOtherMember2019-12-310000775215hbt:MultiFamilyLoansMember2019-12-310000775215hbt:ConstructionAndLandDevelopmentMember2019-12-310000775215hbt:CommercialRealEstateOwnerOccupiedMember2019-12-310000775215hbt:CommercialRealEstateNonOwnerOccupiedMember2019-12-310000775215hbt:CommercialAndIndustrialMember2019-12-310000775215hbt:AgriculturalAndFarmlandMember2019-12-310000775215hbt:CommercialRealEstateOwnerOccupiedMember2021-07-012021-09-300000775215hbt:AgriculturalAndFarmlandMember2021-07-012021-09-300000775215hbt:MultiFamilyLoansMember2021-01-012021-09-300000775215hbt:CommercialRealEstateOwnerOccupiedMember2021-01-012021-09-300000775215hbt:AgriculturalAndFarmlandMember2021-01-012021-09-300000775215hbt:MultiFamilyLoansMember2020-07-012020-09-300000775215hbt:AgriculturalAndFarmlandMember2020-07-012020-09-300000775215hbt:MultiFamilyLoansMember2020-01-012020-09-300000775215us-gaap:ResidentialMortgageBackedSecuritiesMemberus-gaap:HeldtomaturitySecuritiesMember2021-09-300000775215us-gaap:CommercialMortgageBackedSecuritiesMemberus-gaap:HeldtomaturitySecuritiesMember2021-09-300000775215us-gaap:CommercialMortgageBackedSecuritiesMemberhbt:DebtSecuritiesTransferredMember2021-09-300000775215us-gaap:HeldtomaturitySecuritiesMember2021-09-300000775215hbt:DebtSecuritiesTransferredMember2021-09-300000775215us-gaap:USGovernmentAgenciesDebtSecuritiesMemberhbt:DebtSecuritiesTransferredMember2021-06-300000775215us-gaap:ResidentialMortgageBackedSecuritiesMemberhbt:DebtSecuritiesTransferredMember2021-06-300000775215us-gaap:CommercialMortgageBackedSecuritiesMemberhbt:DebtSecuritiesTransferredMember2021-06-300000775215hbt:DebtSecuritiesTransferredMember2021-06-300000775215us-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberhbt:OneToFourFamilyResidentialMember2021-09-300000775215us-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberhbt:MunicipalConsumerAndOtherMember2021-09-300000775215us-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberhbt:MultiFamilyLoansMember2021-09-300000775215us-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberhbt:ConstructionAndLandDevelopmentMember2021-09-300000775215us-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberhbt:CommercialRealEstateOwnerOccupiedMember2021-09-300000775215us-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberhbt:CommercialRealEstateNonOwnerOccupiedMember2021-09-300000775215us-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMember2021-09-300000775215us-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberhbt:OneToFourFamilyResidentialMember2020-12-310000775215us-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberhbt:MunicipalConsumerAndOtherMember2020-12-310000775215us-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberhbt:MultiFamilyLoansMember2020-12-310000775215us-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberhbt:ConstructionAndLandDevelopmentMember2020-12-310000775215us-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberhbt:CommercialRealEstateOwnerOccupiedMember2020-12-310000775215us-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberhbt:CommercialRealEstateNonOwnerOccupiedMember2020-12-310000775215us-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMember2020-12-310000775215hbt:OneToFourFamilyResidentialMember2021-09-300000775215hbt:MunicipalConsumerAndOtherMember2021-09-300000775215hbt:MultiFamilyLoansMember2021-09-300000775215hbt:ConstructionAndLandDevelopmentMember2021-09-300000775215hbt:CommercialRealEstateOwnerOccupiedMember2021-09-300000775215hbt:CommercialRealEstateNonOwnerOccupiedMember2021-09-300000775215hbt:CommercialAndIndustrialMember2021-09-300000775215hbt:AgriculturalAndFarmlandMember2021-09-300000775215hbt:OneToFourFamilyResidentialMember2020-12-310000775215hbt:MunicipalConsumerAndOtherMember2020-12-310000775215hbt:MultiFamilyLoansMember2020-12-310000775215hbt:ConstructionAndLandDevelopmentMember2020-12-310000775215hbt:CommercialRealEstateOwnerOccupiedMember2020-12-310000775215hbt:CommercialRealEstateNonOwnerOccupiedMember2020-12-310000775215hbt:CommercialAndIndustrialMember2020-12-310000775215hbt:AgriculturalAndFarmlandMember2020-12-310000775215us-gaap:StandbyLettersOfCreditMember2021-09-300000775215us-gaap:CommitmentsToExtendCreditMember2021-09-300000775215us-gaap:StandbyLettersOfCreditMember2020-12-310000775215us-gaap:CommitmentsToExtendCreditMember2020-12-310000775215us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2021-09-300000775215us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2020-12-310000775215us-gaap:RetainedEarningsMember2021-07-012021-09-300000775215us-gaap:RetainedEarningsMember2021-01-012021-09-300000775215us-gaap:RetainedEarningsMember2020-07-012020-09-300000775215us-gaap:RetainedEarningsMember2020-01-012020-09-300000775215hbt:VariableRateBorrowingsMemberus-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMember2019-12-310000775215us-gaap:InterestRateSwapMemberus-gaap:NondesignatedMember2021-07-012021-09-300000775215us-gaap:InterestRateSwapMemberus-gaap:NondesignatedMember2021-01-012021-09-300000775215us-gaap:InterestRateSwapMemberus-gaap:NondesignatedMember2020-07-012020-09-300000775215us-gaap:InterestRateSwapMemberus-gaap:NondesignatedMember2020-01-012020-09-300000775215us-gaap:OtherLiabilitiesMemberus-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2021-09-300000775215us-gaap:OtherLiabilitiesMemberus-gaap:FinancialInstitutionsBorrowerMemberus-gaap:InterestRateSwapMemberus-gaap:NondesignatedMember2021-09-300000775215us-gaap:OtherLiabilitiesMemberus-gaap:CommercialBorrowerMemberus-gaap:InterestRateSwapMemberus-gaap:NondesignatedMember2021-09-300000775215us-gaap:OtherLiabilitiesMemberus-gaap:InterestRateSwapMemberus-gaap:NondesignatedMember2021-09-300000775215us-gaap:OtherLiabilitiesMemberus-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2020-12-310000775215us-gaap:OtherLiabilitiesMemberus-gaap:FinancialInstitutionsBorrowerMemberus-gaap:InterestRateSwapMemberus-gaap:NondesignatedMember2020-12-310000775215us-gaap:OtherLiabilitiesMemberus-gaap:InterestRateSwapMemberus-gaap:NondesignatedMember2020-12-310000775215us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2021-09-300000775215us-gaap:FairValueMeasurementsRecurringMember2021-09-300000775215us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2020-12-310000775215us-gaap:FairValueMeasurementsRecurringMember2020-12-310000775215us-gaap:OtherAssetsMemberus-gaap:FinancialInstitutionsBorrowerMemberus-gaap:InterestRateSwapMemberus-gaap:NondesignatedMember2021-09-300000775215us-gaap:OtherAssetsMemberus-gaap:CommercialBorrowerMemberus-gaap:InterestRateSwapMemberus-gaap:NondesignatedMember2021-09-300000775215us-gaap:OtherAssetsMemberus-gaap:InterestRateSwapMemberus-gaap:NondesignatedMember2021-09-300000775215us-gaap:OtherAssetsMemberus-gaap:CommercialBorrowerMemberus-gaap:InterestRateSwapMemberus-gaap:NondesignatedMember2020-12-310000775215us-gaap:OtherAssetsMemberus-gaap:InterestRateSwapMemberus-gaap:NondesignatedMember2020-12-310000775215us-gaap:SupplementalEmployeeRetirementPlanDefinedBenefitMember2021-01-012021-09-300000775215us-gaap:SupplementalEmployeeRetirementPlanDefinedBenefitMember2020-01-012020-09-300000775215us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:SubordinatedDebtMember2021-09-300000775215us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:JuniorSubordinatedDebtMember2021-09-300000775215us-gaap:FairValueInputsLevel3Memberus-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:SubordinatedDebtMember2021-09-300000775215us-gaap:FairValueInputsLevel3Memberus-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:JuniorSubordinatedDebtMember2021-09-300000775215us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:SubordinatedDebtMember2020-12-310000775215us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:JuniorSubordinatedDebtMember2020-12-310000775215us-gaap:FairValueInputsLevel3Memberus-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:SubordinatedDebtMember2020-12-310000775215us-gaap:FairValueInputsLevel3Memberus-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:JuniorSubordinatedDebtMember2020-12-310000775215hbt:NationalBancorpStatutoryTrustIMemberus-gaap:JuniorSubordinatedDebtMember2021-09-300000775215hbt:HeartlandBancorpInc.CapitalTrustDMemberus-gaap:JuniorSubordinatedDebtMember2021-09-300000775215hbt:HeartlandBancorpInc.CapitalTrustCMemberus-gaap:JuniorSubordinatedDebtMember2021-09-300000775215hbt:HeartlandBancorpInc.CapitalTrustBMemberus-gaap:JuniorSubordinatedDebtMember2021-09-300000775215hbt:FfbiCapitalTrustIMemberus-gaap:JuniorSubordinatedDebtMember2021-09-300000775215us-gaap:JuniorSubordinatedDebtMember2021-09-300000775215hbt:NationalBancorpStatutoryTrustIMemberus-gaap:JuniorSubordinatedDebtMember2020-12-310000775215hbt:HeartlandBancorpInc.CapitalTrustDMemberus-gaap:JuniorSubordinatedDebtMember2020-12-310000775215hbt:HeartlandBancorpInc.CapitalTrustCMemberus-gaap:JuniorSubordinatedDebtMember2020-12-310000775215hbt:HeartlandBancorpInc.CapitalTrustBMemberus-gaap:JuniorSubordinatedDebtMember2020-12-310000775215hbt:FfbiCapitalTrustIMemberus-gaap:JuniorSubordinatedDebtMember2020-12-310000775215us-gaap:JuniorSubordinatedDebtMember2020-12-310000775215us-gaap:SubordinatedDebtMember2020-09-030000775215hbt:NationalBancorpStatutoryTrustIMemberus-gaap:JuniorSubordinatedDebtMemberus-gaap:LondonInterbankOfferedRateLIBORMember2021-01-012021-09-300000775215hbt:HeartlandBancorpInc.CapitalTrustDMemberus-gaap:JuniorSubordinatedDebtMemberus-gaap:LondonInterbankOfferedRateLIBORMember2021-01-012021-09-300000775215hbt:HeartlandBancorpInc.CapitalTrustCMemberus-gaap:JuniorSubordinatedDebtMemberus-gaap:LondonInterbankOfferedRateLIBORMember2021-01-012021-09-300000775215hbt:HeartlandBancorpInc.CapitalTrustBMemberus-gaap:JuniorSubordinatedDebtMemberus-gaap:LondonInterbankOfferedRateLIBORMember2021-01-012021-09-300000775215hbt:FfbiCapitalTrustIMemberus-gaap:JuniorSubordinatedDebtMemberus-gaap:LondonInterbankOfferedRateLIBORMember2021-01-012021-09-300000775215hbt:PeriodTwoMemberus-gaap:SubordinatedDebtMemberus-gaap:SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMember2020-09-032020-09-0300007752152021-06-3000007752152020-06-3000007752152020-09-3000007752152019-12-310000775215us-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2021-09-300000775215us-gaap:FairValueInputsLevel1Memberus-gaap:CarryingReportedAmountFairValueDisclosureMember2021-09-300000775215us-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2020-12-310000775215us-gaap:FairValueInputsLevel1Memberus-gaap:CarryingReportedAmountFairValueDisclosureMember2020-12-310000775215hbt:NxtBancorporationIncMember2021-07-012021-09-300000775215hbt:NxtBancorporationIncMember2021-01-012021-09-300000775215us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2021-09-300000775215us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2021-09-300000775215us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MunicipalBondsMember2021-09-300000775215us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2021-09-300000775215us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommercialMortgageBackedSecuritiesMember2021-09-300000775215us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2021-09-300000775215us-gaap:FairValueMeasurementsRecurringMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2021-09-300000775215us-gaap:FairValueMeasurementsRecurringMemberus-gaap:MunicipalBondsMember2021-09-300000775215us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2021-09-300000775215us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommercialMortgageBackedSecuritiesMember2021-09-300000775215us-gaap:FairValueInputsLevel1Memberus-gaap:USTreasurySecuritiesMember2021-09-300000775215us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2020-12-310000775215us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2020-12-310000775215us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MunicipalBondsMember2020-12-310000775215us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2020-12-310000775215us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommercialMortgageBackedSecuritiesMember2020-12-310000775215us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2020-12-310000775215us-gaap:FairValueMeasurementsRecurringMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2020-12-310000775215us-gaap:FairValueMeasurementsRecurringMemberus-gaap:MunicipalBondsMember2020-12-310000775215us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2020-12-310000775215us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommercialMortgageBackedSecuritiesMember2020-12-310000775215us-gaap:ResidentialMortgageBackedSecuritiesMemberus-gaap:AvailableforsaleSecuritiesMember2021-09-300000775215us-gaap:CommercialMortgageBackedSecuritiesMemberus-gaap:AvailableforsaleSecuritiesMember2021-09-300000775215us-gaap:AvailableforsaleSecuritiesMember2021-09-300000775215us-gaap:USTreasurySecuritiesMember2021-09-300000775215us-gaap:USGovernmentAgenciesDebtSecuritiesMember2021-09-300000775215us-gaap:ResidentialMortgageBackedSecuritiesMember2021-09-300000775215us-gaap:MunicipalBondsMember2021-09-300000775215us-gaap:CorporateDebtSecuritiesMember2021-09-300000775215us-gaap:CommercialMortgageBackedSecuritiesMember2021-09-300000775215us-gaap:USGovernmentAgenciesDebtSecuritiesMember2020-12-310000775215us-gaap:ResidentialMortgageBackedSecuritiesMember2020-12-310000775215us-gaap:MunicipalBondsMember2020-12-310000775215us-gaap:CorporateDebtSecuritiesMember2020-12-310000775215us-gaap:CommercialMortgageBackedSecuritiesMember2020-12-310000775215us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberhbt:CollateralDependentImpairedLoansMemberhbt:AppraisalOfCollateralMember2021-09-300000775215us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberhbt:CollateralDependentImpairedLoansMemberhbt:AppraisalOfCollateralMember2020-12-310000775215hbt:NxtBancorporationIncMember2021-09-300000775215us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberhbt:ForeclosedAssetsMember2021-09-300000775215us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberhbt:CollateralDependentImpairedLoansMember2021-09-300000775215us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberhbt:BankPremisesHeldForSaleMember2021-09-300000775215us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberhbt:ForeclosedAssetsMember2020-12-310000775215us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberhbt:CollateralDependentImpairedLoansMember2020-12-310000775215us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberhbt:BankPremisesHeldForSaleMember2020-12-310000775215hbt:ConstructionAndLandDevelopmentMember2021-07-012021-09-300000775215hbt:CommercialRealEstateNonOwnerOccupiedMember2021-07-012021-09-300000775215hbt:ConstructionAndLandDevelopmentMember2021-01-012021-09-300000775215hbt:CommercialRealEstateNonOwnerOccupiedMember2021-01-012021-09-300000775215hbt:CommercialRealEstateNonOwnerOccupiedMember2020-07-012020-09-300000775215hbt:OneToFourFamilyResidentialMember2021-07-012021-09-300000775215hbt:MunicipalConsumerAndOtherMember2021-07-012021-09-300000775215hbt:CommercialAndIndustrialMember2021-07-012021-09-300000775215hbt:OneToFourFamilyResidentialMember2021-01-012021-09-300000775215hbt:MunicipalConsumerAndOtherMember2021-01-012021-09-300000775215hbt:CommercialAndIndustrialMember2021-01-012021-09-300000775215hbt:OneToFourFamilyResidentialMember2020-07-012020-09-300000775215hbt:MunicipalConsumerAndOtherMember2020-07-012020-09-300000775215hbt:ConstructionAndLandDevelopmentMember2020-07-012020-09-300000775215hbt:CommercialRealEstateOwnerOccupiedMember2020-07-012020-09-300000775215hbt:CommercialAndIndustrialMember2020-07-012020-09-300000775215hbt:OneToFourFamilyResidentialMember2020-01-012020-09-300000775215hbt:MunicipalConsumerAndOtherMember2020-01-012020-09-300000775215hbt:ConstructionAndLandDevelopmentMember2020-01-012020-09-300000775215hbt:CommercialRealEstateOwnerOccupiedMember2020-01-012020-09-300000775215hbt:CommercialRealEstateNonOwnerOccupiedMember2020-01-012020-09-300000775215hbt:CommercialAndIndustrialMember2020-01-012020-09-300000775215hbt:AgriculturalAndFarmlandMember2020-01-012020-09-300000775215us-gaap:StockAppreciationRightsSARSMember2021-07-012021-09-300000775215us-gaap:PerformanceSharesMember2021-07-012021-09-300000775215hbt:TotalAwardsClassifiedAsEquityMember2021-07-012021-09-300000775215hbt:TotalAwardsClassifiedAsEquityMember2021-01-012021-09-300000775215us-gaap:StockAppreciationRightsSARSMember2020-07-012020-09-300000775215hbt:TotalAwardsClassifiedAsEquityMember2020-07-012020-09-300000775215us-gaap:StockAppreciationRightsSARSMember2020-01-012020-09-300000775215hbt:TotalAwardsClassifiedAsEquityMember2020-01-012020-09-300000775215hbt:FrbLineOfCreditMember2021-09-300000775215hbt:FrbLineOfCreditMember2020-12-310000775215us-gaap:AdditionalPaidInCapitalMember2021-07-012021-09-300000775215us-gaap:AdditionalPaidInCapitalMember2021-01-012021-09-300000775215us-gaap:AdditionalPaidInCapitalMember2020-07-012020-09-300000775215us-gaap:AdditionalPaidInCapitalMember2020-01-012020-09-300000775215us-gaap:RestrictedStockUnitsRSUMember2021-07-012021-09-300000775215us-gaap:RestrictedStockUnitsRSUMemberus-gaap:ShareBasedPaymentArrangementEmployeeMember2021-04-272021-04-270000775215us-gaap:RestrictedStockUnitsRSUMemberus-gaap:ShareBasedPaymentArrangementNonemployeeMember2021-02-192021-02-190000775215us-gaap:PerformanceSharesMemberus-gaap:ShareBasedPaymentArrangementEmployeeMember2021-02-192021-02-190000775215us-gaap:PerformanceSharesMember2021-01-012021-09-300000775215us-gaap:RestrictedStockUnitsRSUMember2020-07-012020-09-300000775215us-gaap:RestrictedStockUnitsRSUMember2020-01-012020-09-300000775215us-gaap:RestrictedStockUnitsRSUMember2021-01-012021-09-300000775215us-gaap:StockAppreciationRightsSARSMember2021-09-300000775215us-gaap:RestrictedStockUnitsRSUMember2021-09-300000775215us-gaap:PerformanceSharesMember2021-09-300000775215us-gaap:StockAppreciationRightsSARSMember2021-06-300000775215us-gaap:RestrictedStockUnitsRSUMember2021-06-300000775215us-gaap:PerformanceSharesMember2021-06-300000775215us-gaap:StockAppreciationRightsSARSMember2020-12-310000775215us-gaap:RestrictedStockUnitsRSUMember2020-12-310000775215us-gaap:StockAppreciationRightsSARSMember2020-09-300000775215us-gaap:RestrictedStockUnitsRSUMember2020-09-300000775215us-gaap:StockAppreciationRightsSARSMember2020-06-300000775215us-gaap:RestrictedStockUnitsRSUMember2020-06-300000775215us-gaap:StockAppreciationRightsSARSMember2019-12-310000775215hbt:MortgageServicingAssetsMember2020-01-012020-12-310000775215hbt:MortgageServicingAssetsMember2021-07-012021-09-300000775215hbt:MortgageServicingAssetsMember2021-01-012021-09-300000775215hbt:MortgageServicingAssetsMember2020-07-012020-09-300000775215hbt:MortgageServicingAssetsMember2020-01-012020-09-300000775215us-gaap:SubordinatedDebtMember2021-01-012021-09-300000775215us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2021-09-300000775215us-gaap:FairValueInputsLevel3Memberus-gaap:CarryingReportedAmountFairValueDisclosureMember2021-09-300000775215us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2020-12-310000775215us-gaap:FairValueInputsLevel3Memberus-gaap:CarryingReportedAmountFairValueDisclosureMember2020-12-310000775215us-gaap:SubordinatedDebtMember2021-09-300000775215us-gaap:SubordinatedDebtMember2020-12-310000775215srt:MinimumMemberus-gaap:PerformanceSharesMemberus-gaap:ShareBasedPaymentArrangementEmployeeMember2021-02-190000775215srt:MaximumMemberus-gaap:PerformanceSharesMemberus-gaap:ShareBasedPaymentArrangementEmployeeMember2021-02-190000775215stpr:IL2021-01-012021-09-300000775215us-gaap:StockAppreciationRightsSARSMember2021-01-012021-09-300000775215hbt:OneToFourFamilyResidentialRealEstatePropertyMember2021-01-012021-09-300000775215hbt:OneToFourFamilyResidentialRealEstatePropertyMember2020-01-012020-12-310000775215us-gaap:JuniorSubordinatedDebtMember2021-01-012021-09-3000007752152021-07-012021-09-3000007752152020-07-012020-09-3000007752152020-01-012020-12-310000775215srt:ParentCompanyMember2021-09-300000775215hbt:HeartlandBankMember2021-09-300000775215srt:ParentCompanyMember2020-12-310000775215hbt:HeartlandBankMember2020-12-3100007752152021-09-3000007752152020-12-310000775215hbt:NxtBancorporationIncMember2021-10-012021-10-010000775215us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMember2021-09-300000775215us-gaap:FairValueMeasurementsNonrecurringMember2021-09-300000775215us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMember2020-12-310000775215us-gaap:FairValueMeasurementsNonrecurringMember2020-12-310000775215srt:WeightedAverageMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberhbt:ForeclosedAssetsMemberhbt:AppraisalMember2021-09-300000775215srt:WeightedAverageMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberhbt:BankPremisesHeldForSaleMemberhbt:AppraisalMember2021-09-300000775215us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberhbt:ForeclosedAssetsMemberhbt:AppraisalMember2021-09-300000775215us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberhbt:BankPremisesHeldForSaleMemberhbt:AppraisalMember2021-09-300000775215srt:WeightedAverageMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberhbt:ForeclosedAssetsMemberhbt:AppraisalMember2020-12-310000775215srt:WeightedAverageMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberhbt:BankPremisesHeldForSaleMemberhbt:AppraisalMember2020-12-310000775215us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberhbt:ForeclosedAssetsMemberhbt:AppraisalMember2020-12-310000775215us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberhbt:BankPremisesHeldForSaleMemberhbt:AppraisalMember2020-12-310000775215us-gaap:SubordinatedDebtMember2020-09-032020-09-030000775215us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2021-09-300000775215us-gaap:FairValueInputsLevel2Memberus-gaap:CarryingReportedAmountFairValueDisclosureMember2021-09-300000775215us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2020-12-310000775215us-gaap:FairValueInputsLevel2Memberus-gaap:CarryingReportedAmountFairValueDisclosureMember2020-12-3100007752152020-01-012020-09-3000007752152021-10-2600007752152021-01-012021-09-30hbt:segmentxbrli:sharesiso4217:USDxbrli:pureiso4217:USDxbrli:shareshbt:periodhbt:loanhbt:installmenthbt:itemhbt:subsidiary

Table of Contents

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

     QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended September 30, 2021

OR

     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 class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, par value $0.01 per share

HBT

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      No  

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      No  

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 filer

Accelerated filer

Non-accelerated filer

Smaller reporting company

Emerging growth company

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.

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes      No  

As of October 26, 2021, there were 29,054,879 shares outstanding of the registrant’s common stock, $0.01 par value.

 

Table of Contents

TABLE OF CONTENTS
HBT Financial, Inc.

    

Page

PART I. FINANCIAL INFORMATION

3

Item 1.

Consolidated Financial Statements

3

Consolidated Balance Sheets

3

Consolidated Statements of Income

4

Consolidated Statements of Comprehensive Income

5

Consolidated Statement of Changes in Stockholders’ Equity

6

Consolidated Statements of Cash Flows

8

Notes to Consolidated Financial Statements

10

Item 2.

Management’s Discussion and Analysis of Financial Condition and Results of Operations

52

Item 3.

Quantitative and Qualitative Disclosures about Market Risk

90

Item 4.

Controls and Procedures

91

PART II. OTHER INFORMATION

92

Item 1.

Legal Proceedings

92

Item 1A.

Risk Factors

92

Item 2.

Unregistered Sales of Equity Securities and Use of Proceeds

92

Item 3.

Defaults Upon Senior Securities

92

Item 4.

Mine Safety Disclosures

93

Item 5.

Other Information

93

Item 6.

Exhibits

93

Table of Contents

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:

our asset quality and any loan charge-offs;
the composition of our loan portfolio;
time and effort necessary to resolve nonperforming assets and the loans modified or deferred as a result of the impact of the COVID-19 pandemic;
the length and severity of the COVID-19 pandemic, and the effects of the COVID-19 pandemic, including the impact of the pandemic on our operations and the operations of our customers and the communities that we serve;
environmental liability associated with our lending activities;
the effects of the current low interest rate environment or changes in interest rates on our net interest income, net interest margin, our investments, and our loan originations, and our modeling estimates relating to interest rate changes;
changes in and uncertainty related to benchmark interest rates used to price our loans, including the expected elimination of LIBOR;
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 attract and retain skilled employees or changes in our management personnel;
any failure or interruption of our information and communications systems;
our ability to identify and address cybersecurity risks;
the effects of the failure of any component of our business infrastructure provided by a third party;
our ability to keep pace with technological changes;
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 generally or in Illinois in particular;
the geographic concentration of our operations in the State of Illinois;
our ability to effectively compete with other financial services companies and the effects of competition in the financial services industry on our business;
our ability to attract and retain customer deposits;
our ability to maintain the Bank’s reputation;
severe weather, natural disasters, pandemics, acts of war or terrorism or other external events;
possible impairment of our goodwill and other intangible assets;
the impact of, and changes in applicable laws, regulations and accounting standards and policies;
our prior status as an S Corp;
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 Sarbanes-Oxley;
damage to our reputation from any of the factors described above; and

1

Table of Contents

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, 2020.

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

Table of Contents

PART I. FINANCIAL INFORMATION

ITEM 1.         CONSOLIDATED FINANCIAL STATEMENTS

HBT FINANCIAL, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS

(dollars in thousands, except per share data)

    

(Unaudited)

   

September 30, 

December 31, 

2021

2020

ASSETS

Cash and due from banks

$

36,508

$

24,912

Interest-bearing deposits with banks

435,421

287,539

Cash and cash equivalents

471,929

312,451

Debt securities available-for-sale, at fair value

896,218

922,869

Debt securities held-to-maturity (fair value of $321,156 in 2021 and $72,441 in 2020)

318,730

68,395

Equity securities with readily determinable fair value

3,366

3,292

Equity securities with no readily determinable fair value

1,867

1,552

Restricted stock, at cost

2,739

2,498

Loans held for sale

8,582

14,713

Loans, net of allowance for loan losses of $24,861 in 2021 and $31,838 in 2020

2,122,951

2,215,168

Bank premises and equipment, net

49,337

52,904

Bank premises held for sale

1,462

121

Foreclosed assets

7,315

4,168

Goodwill

23,620

23,620

Core deposit intangible assets, net

1,999

2,798

Mortgage servicing rights, at fair value

7,359

5,934

Investments in unconsolidated subsidiaries

1,165

1,165

Accrued interest receivable

13,376

14,255

Other assets

16,211

20,664

Total assets

$

3,948,226

$

3,666,567

LIABILITIES AND STOCKHOLDERS' EQUITY

Liabilities

Deposits:

Noninterest-bearing

$

1,003,723

$

882,939

Interest-bearing

2,415,833

2,247,595

Total deposits

3,419,556

3,130,534

Securities sold under agreements to repurchase

47,957

45,736

Subordinated notes

39,297

39,238

Junior subordinated debentures issued to capital trusts

37,698

37,648

Other liabilities

24,897

49,494

Total liabilities

3,569,405

3,302,650

COMMITMENTS AND CONTINGENCIES (Notes 8 and 19)

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 27,477,531 in 2021 and 27,457,306 in 2020; shares outstanding of 27,334,428 in 2021 and 27,457,306 in 2020

275

275

Surplus

191,413

190,875

Retained earnings

184,919

154,614

Accumulated other comprehensive income

4,537

18,153

Treasury stock at cost, 143,103 shares in 2021 and none in 2020

(2,323)

Total stockholders’ equity

378,821

363,917

Total liabilities and stockholders’ equity

$

3,948,226

$

3,666,567

See accompanying Notes to Consolidated Financial Statements (Unaudited)

3

Table of Contents

HBT FINANCIAL, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME

(Unaudited)

Three Months Ended September 30, 

Nine Months Ended September 30, 

2021

    

2020

    

2021

    

2020

INTEREST AND DIVIDEND INCOME

(dollars in thousands, except per share data)

Loans, including fees:

Taxable

$

25,604

$

25,118

$

76,016

$

77,396

Federally tax exempt

572

542

1,722

1,748

Securities:

Taxable

4,632

3,266

12,323

9,772

Federally tax exempt

1,103

1,233

3,383

3,488

Interest-bearing deposits in bank

190

65

385

873

Other interest and dividend income

14

14

39

42

Total interest and dividend income

32,115

30,238

93,868

93,319

INTEREST EXPENSE

Deposits

564

843

1,821

3,480

Securities sold under agreements to repurchase

8

9

23

40

Borrowings

1

1

2

2

Subordinated notes

470

147

1,409

147

Junior subordinated debentures issued to capital trusts

357

367

1,069

1,209

Total interest expense

1,400

1,367

4,324

4,878

Net interest income

30,715

28,871

89,544

88,441

PROVISION FOR LOAN LOSSES

(1,667)

2,174

(7,234)

10,102

Net interest income after provision for loan losses

32,382

26,697

96,778

78,339

NONINTEREST INCOME

Card income

2,509

2,146

7,216

5,936

Service charges on deposit accounts

1,677

1,493

4,364

4,460

Wealth management fees

2,036

1,646

6,013

4,967

Mortgage servicing

699

724

2,095

2,175

Mortgage servicing rights fair value adjustment

40

(268)

1,425

(2,947)

Gains on sale of mortgage loans

1,257

3,184

4,919

5,855

Gains (losses) on securities

28

(2)

74

3

Gains (losses) on foreclosed assets

(14)

27

126

120

Gains (losses) on other assets

(672)

1

(719)

(71)

Other noninterest income

832

1,101

2,461

2,866

Total noninterest income

8,392

10,052

27,974

23,364

NONINTEREST EXPENSE

Salaries

11,988

12,595

36,859

38,023

Employee benefits

1,500

1,666

4,677

6,555

Occupancy of bank premises

1,610

1,609

5,011

5,079

Furniture and equipment

657

679

1,883

1,891

Data processing

1,767

1,583

5,176

4,841

Marketing and customer relations

883

690

2,291

2,551

Amortization of intangible assets

252

305

799

927

FDIC insurance

279

222

763

476

Loan collection and servicing

400

450

1,098

1,292

Foreclosed assets

242

226

704

403

Other noninterest expense

2,589

2,460

7,604

7,253

Total noninterest expense

22,167

22,485

66,865

69,291

INCOME BEFORE INCOME TAX EXPENSE

18,607

14,264

57,887

32,412

INCOME TAX EXPENSE

4,892

3,701

15,210

8,209

NET INCOME

$

13,715

$

10,563

$

42,677

$

24,203

EARNINGS PER SHARE - BASIC

$

0.50

$

0.38

$

1.56

$

0.88

EARNINGS PER SHARE - DILUTED

$

0.50

$

0.38

$

1.56

$

0.88

WEIGHTED AVERAGE SHARES OF COMMON STOCK OUTSTANDING

27,340,926

27,457,306

27,377,809

27,457,306

See accompanying Notes to Consolidated Financial Statements (Unaudited)

4

Table of Contents

HBT FINANCIAL, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(Unaudited)

Three Months Ended September 30, 

Nine Months Ended September 30, 

2021

    

2020

    

2021

    

2020

(dollars in thousands)

NET INCOME

$

13,715

$

10,563

$

42,677

$

24,203

OTHER COMPREHENSIVE INCOME (LOSS)

Unrealized gains (losses) on debt securities available-for-sale

(5,676)

1,176

(19,950)

15,368

Reclassification adjustment for amortization of net unrealized losses on debt securities transferred to held-to-maturity

195

8

426

5

Unrealized (losses) gains on derivative instruments

(8)

5

173

(1,098)

Reclassification adjustment for net settlements on derivative instruments

105

97

306

138

Total other comprehensive income (loss), before tax

(5,384)

1,286

(19,045)

14,413

Income tax expense (benefit)

(1,535)

366

(5,429)

4,114

Total other comprehensive income (loss)

(3,849)

920

(13,616)

10,299

TOTAL COMPREHENSIVE INCOME

$

9,866

$

11,483

$

29,061

$

34,502

See accompanying Notes to Consolidated Financial Statements (Unaudited)

5

Table of Contents

HBT FINANCIAL, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY

(Unaudited)

Accumulated

Common Stock

Other

Total

Shares

Retained

Comprehensive

Treasury

Stockholders’

    

Outstanding

    

Amount

    

Surplus

    

Earnings

    

Income (Loss)

    

Stock

    

Equity

(dollars in thousands, except per share data)

Balance, June 30, 2021

27,355,053

$

275

$

191,185

$

175,328

$

8,386

$

(1,980)

$

373,194

Net income

13,715

13,715

Other comprehensive income

(3,849)

(3,849)

Stock-based compensation

228

228

Repurchase of common stock

(20,625)

(343)

(343)

Cash dividends and dividend equivalents ($0.15 per share)

(4,124)

(4,124)

Balance, September 30, 2021

27,334,428

$

275

$

191,413

$

184,919

$

4,537

$

(2,323)

$

378,821

Balance, June 30, 2020

27,457,306

$

275

$

190,687

$

139,667

$

17,211

$

$

347,840

Net income

10,563

10,563

Other comprehensive income

920

920

Stock-based compensation

100

100

Cash dividends and dividend equivalents ($0.15 per share)

(4,129)

(4,129)

Balance, September 30, 2020

27,457,306

$

275

$

190,787

$

146,101

$

18,131

$

$

355,294

See accompanying Notes to Consolidated Financial Statements (Unaudited)

6

Table of Contents

HBT FINANCIAL, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY (CONTINUED)

(Unaudited)

Accumulated

Common Stock

Other

Total

Shares

Retained

Comprehensive

Treasury

Stockholders’

    

Outstanding

    

Amount

    

Surplus

    

Earnings

    

Income (Loss)

    

Stock

    

Equity

(dollars in thousands, except per share data)

Balance, December 31, 2020

27,457,306

$

275

$

190,875

$

154,614

$

18,153

$

$

363,917

Net income

42,677

42,677

Other comprehensive loss

(13,616)

(13,616)

Stock-based compensation

538

538

Issuance of common stock upon vesting of restricted stock units

20,225

Repurchase of common stock

(143,103)

(2,323)

(2,323)

Cash dividends and dividend equivalents ($0.45 per share)

(12,372)

(12,372)

Balance, September 30, 2021

27,334,428

$

275

$

191,413

$

184,919

$

4,537

$

(2,323)

$

378,821