HBT Financial Posts $31.4M Q3 Profit on 4.35% Margin
HBT sits 62% above its 52-week low of $22.369.
Summary
HBT earned $31.4 million, or $0.86 per diluted share, in the third quarter, with a 4.35% net interest margin and nonperforming assets at just 0.16% of the book. The margin and credit numbers are the story for a small bank trading near its 52-week high — clean asset quality and a wide spread support the earnings base heading into the Tri-County Financial Group deal. That $204.6 million cash-and-stock acquisition, announced in August, goes to a Tri-County stockholder vote at the October 29 special meeting, three days from now. Watch whether the quarter's capital generation holds up once the deal closes and integration costs hit, similar to the CNB-related charges that dented Q1 GAAP results.
At the time of this announcement, HBT was trading at $36.24 on NASDAQ in the Finance sector, with a market capitalization of approximately $1.3B. The 52-week trading range was $22.37 to $37.51. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.