Earnings release
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EXHIBIT 99.1 HBT FINANCIAL, INC. ANNOUNCES SECOND QUARTER 2026 FINANCIAL RESULTS Quarterly Cash Dividend Increased to $0.25 per Share Second Quarter Highlights • Net income of $27.8 million, or $0.76 per diluted share; return on average assets (“ROAA”) of 1.66%; return on average stockholders' equity (“ROAE”) of 14.73%; and return on average tangible common equity (“ROATCE”) of 17.69% • Adjusted net income of $28.5 million, or $0.78 per diluted share; adjusted ROAA of 1.70%; adjusted ROAE of 15.09%; and adjusted ROATCE of 18.13% • Asset quality remained strong with nonperforming assets to total assets of 0.15% and net recoveries to average loans of 0.01%, on an annualized basis • Net interest margin increased 12 basis points to 4.32% and net interest margin (tax-equivalent basis) increased 13 basis points to 4.38% Bloomington, IL, July 27, 2026 – HBT Financial, Inc. (NASDAQ: HBT) (the “Company”, “HBT Financial” or “HBT”), the holding company for Heartland Bank and Trust Company, today reported net income of $27.8 million, or $0.76 diluted earnings per share, for the second quarter of 2026. This compares to net income of $11.2 million, or $0.34 diluted earnings per share, for the first quarter of 2026, and net income of $19.2 million, or $0.61 diluted earnings per share, for the second quarter of 2025. J. Lance Carter, President and Chief Executive Officer of HBT Financial, said, “Our first full quarter after the closing of our acquisition of CNB Bank Shares, Inc. (“CNB”) and its wholly owned subsidiary, CNB Bank & Trust, N.A. (“CNB Bank”) delivered strong results. For the second quarter, we reported adjusted net income of $28.5 million, or $0.78 per diluted share, adjusted ROAA of 1.70% and adjusted ROATCE of 18.13%. Our net interest margin on a tax equivalent basis increased 13 basis points to 4.38% compared to the first quarter of 2026. While some of that increase was driven by higher than expected loan accretion income, net interest margin also increased as maturing fixed rate loans repriced higher and securities cash flows were reinvested at higher rates, which offset an increase in cost of funds related to the deposit base acquired from CNB Bank. Noninterest income and noninterest expense were both in line with expectations as we are now realizing the full benefit of our acquisition and all material cost savings. Our tangible book value per share increased 3.5% for the quarter to $17.60 while our balance sheet remains strong with good liquidity, solid capital ratios, and no material credit issues. That gives us confidence that we are prepared for a variety of economic environments. Our capital levels and operational structure support continued organic growth and attractive acquisition opportunities should the right opportunity arise.” ____________________________________ (1) See “Reconciliation of Non-GAAP Financial Measures” below for reconciliation of non-GAAP financial measures to their most closely comparable GAAP financial measures. (1) (1) (1) (1) (1) (1) (1) (1) (1) (1) (1)
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HBT Financial, Inc. Page 2 Adjusted Net Income In addition to reporting GAAP results, the Company believes non-GAAP measures such as adjusted net income and adjusted earnings per share, which adjust for acquisition expenses, branch closure expenses, net earnings (losses) on closed or sold operations, losses on extinguishment of debt, gains (losses) on closed branch premises, realized gains (losses) on sales of securities, mortgage servicing rights (“MSR”) fair value adjustments, and the tax effect of these pre-tax adjustments, provide investors with additional insight into its operational performance. The Company reported adjusted net income of $28.5 million, or $0.78 adjusted diluted earnings per share, for the second quarter of 2026. This compares to adjusted net income of $22.6 million, or $0.68 adjusted diluted earnings per share, for the first quarter of 2026, and adjusted net income of $19.8 million, or $0.63 adjusted diluted earnings per share, for the second quarter of 2025. See “Reconciliation of Non-GAAP Financial Measures” tables below for reconciliation of non-GAAP financial measures to their most closely comparable GAAP financial measures. Cash Dividend On July 24, 2026, the Company’s Board of Directors declared a quarterly cash dividend of $0.25 per share on the Company’s common stock (the “Dividend”). The Dividend is payable on August 18, 2026 to shareholders of record as of August 11, 2026. This represents an increase of $0.02 from the previous quarterly cash dividend of $0.23 per share. Mr. Carter noted, “We are very pleased to announce that our strong financial performance and capital ratios have enabled us to further increase our quarterly cash dividend by $0.02 per share. This increased dividend reflects the increase in earnings from the successful acquisition and integration of CNB in the first quarter of 2026 while ensuring that capital levels remain strong and comfortably support our balance sheet and strategic objectives.” Net Interest Income and Net Interest Margin Net interest income for the second quarter of 2026 was $69.1 million, an increase of 22.5% from $56.4 million for the first quarter of 2026. The increase was primarily attributable to higher average interest-earning asset balances following the CNB merger completed on March 1, 2026 and higher yields on interest-earning assets. Additionally, acquired loan discount accretion was $2.1 million during the second quarter of 2026 compared to $1.0 million during the first quarter of 2026. Partially offsetting these increases were higher funding costs and a $0.3 million decrease in loan fees. Relative to the second quarter of 2025, net interest income increased 39.1% from $49.7 million. The increase was primarily attributable to higher average interest-earning asset balances following the CNB merger and improved yields on debt securities. Additionally, a $1.1 million increase in acquired loan discount accretion contributed to the improvement and was partially offset by a $0.2 million decrease in loan fees. Net interest margin for the second quarter of 2026 was 4.32%, compared to 4.20% for the first quarter of 2026, while net interest margin (tax-equivalent basis) for the second quarter of 2026 was 4.38%, compared to 4.25% for the first quarter of 2026. These increases were primarily attributable to improved yields on loans, which increased 10 basis points to 6.38%, including an 8 basis point increase in acquired loan discount accretion, and improved yields on debt securities. Additionally, a more favorable interest-earning asset mix further contributed to the overall improvement. These increases were partially offset by higher funding costs, which increased 7 basis points to 1.32%, driven primarily by the first full quarter of interest expense on the subordinated notes and the higher cost deposit base acquired from CNB Bank. Relative to the second quarter of 2025, net interest margin increased 18 basis points from 4.14% and net interest margin (tax- equivalent basis) increased19 basis points from 4.19%. These increases were primarily attributable to improved yields on debt securities and a more favorable interest-earning asset mix, which were partially offset by higher funding costs. ____________________________________ (1) See “Reconciliation of Non-GAAP Financial Measures” below for reconciliation of non-GAAP financial measures to their most closely comparable GAAP financial measures. (1) (1)
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HBT Financial, Inc. Page 3 Noninterest Income Noninterest income for the second quarter of 2026 was $11.8 million, an increase from $10.9 million for the first quarter of 2026. The increase was primarily attributable to a $0.7 million increase in card income, a $0.3 million increase in service charges on deposit accounts, and a $0.2 million increase in wealth management fees, all primarily driven by a larger customer base following the CNB merger. These increases were partially offset by changes in the MSR fair value adjustment, with a $0.8 million negative MSR fair value adjustment included in the second quarter of 2026 results compared to a $0.2 million positive MSR fair value adjustment included in the first quarter of 2026 results. Relative to the second quarter of 2025, noninterest income increased 29.6% from $9.1 million. The increase was primarily attributable to a $1.1 million increase in wealth management fees, a $0.6 million increase in card income, and a $0.6 million increase in service charges on deposit accounts, all primarily driven by a larger customer base following the CNB merger. Noninterest Expense Noninterest expense for the second quarter of 2026 was $42.4 million, a 19.1% decrease from the first quarter of 2026. Acquisition-related noninterest expenses totaled $0.3 million during the second quarter of 2026, compared to $15.7 million during the first quarter of 2026. Excluding acquisition-related expenses, the $5.4 million increase in noninterest expense was primarily attributable to higher base costs following the CNB merger, which primarily drove a $3.2 million increase in salaries and employee benefits as well as increases in data processing, occupancy, and marketing expenses. Relative to the second quarter of 2025, noninterest expense increased 33.0% from $31.9 million. Excluding acquisition- related expenses, the $10.3 million increase in noninterest expense was primarily attributable to higher base costs following the CNB merger, including a $6.2 million increase in salaries and employee benefits, which were also driven higher by annual merit increases and higher medical benefits costs, as well as increases in occupancy, data processing, and marketing expenses. Acquisition-related expenses during the first and second quarter of 2026 and during the six months ended June 30, 2026 are summarized below. There were no acquisition-related expenses during the second quarter of 2025 or during the six months ended June 30, 2025. We do not expect material acquisition-related expenses related to the CNB merger in subsequent quarters. Three Months Ended Six Months Ended (dollars in thousands) June 30,2026 March 31, 2026 June 30,2025 2026 2025 NONINTEREST EXPENSE Salaries $ (44) $ 4,003 $ — $ 3,959 $ — Occupancy of bank premises 13 105 — 118 — Furniture and equipment 9 63 — 72 — Data processing 91 8,668 — 8,759 — Marketing and customer relations 5 69 — 74 — Loan collection and servicing 28 320 — 348 — Professional fees and other noninterest expense 155 2,438 — 2,593 — Total acquisition-related expenses $ 257 $ 15,666 $ — $ 15,923 $ —
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HBT Financial, Inc. Page 4 Loan Portfolio Total loans outstanding, before allowance for credit losses, were $4.75 billion at June 30, 2026, compared with $4.69 billion at March 31, 2026, and $3.35 billion at June 30, 2025. The $65.5 million increase from March 31, 2026 was primarily due to increases in multi-family loans and loans to nondepository institutions, included within the municipal, consumer, and other category. These increases were offset by seasonal reductions on grain elevator lines of $27.3 million and several large payoffs due to refinancings across multiple categories, including one condominium loan for $26.1 million within the one-to-four family residential category. In addition, $50.6 million in completed construction projects were transferred from the construction and land development to other categories, primarily in the commercial real estate – non-owner occupied category. Deposits Total deposits were $5.76 billion at June 30, 2026, compared with $5.80 billion at March 31, 2026, and $4.31 billion at June 30, 2025. The $45.5 million decrease from March 31, 2026 was primarily attributable to higher outflows for tax payments by depositors and lower balances maintained in existing retail accounts, which were partially offset by higher public funds balances. Additionally, $48.6 million of wealth management customer reciprocal deposits were moved on-balance sheet during the second quarter of 2026. Asset Quality Nonperforming assets totaled $9.9 million, or 0.15% of total assets, at June 30, 2026, compared with $14.4 million, or 0.21% of total assets, at March 31, 2026, and $6.5 million, or 0.13% of total assets, at June 30, 2025. The $4.5 million decrease in nonperforming assets from March 31, 2026 was primarily attributable to paydowns and payoffs in the one-to-four family residential and construction and land development categories. Additionally, of the $9.1 million of nonperforming loans held as of June 30, 2026, $2.4 million were either wholly or partially guaranteed by the U.S. government. The Company recorded a provision for credit losses of $0.7 million for the second quarter of 2026. The provision for credit losses primarily reflects a $3.9 million increase in required reserves resulting from changes in qualitative factors; a $1.3 million decrease in specific reserves; a $1.0 million decrease in required reserves driven by changes in the economic forecast; and a $1.0 million decrease in required reserves driven by changes within the portfolio. The Company had net recoveries of $0.1 million, or 0.01% of average loans on an annualized basis, for the second quarter of 2026, compared to net charge-offs of $0.8 million, or 0.08% of average loans on an annualized basis, for the first quarter of 2026, and net charge-offs of $1.0 million, or 0.12% of average loans on an annualized basis, for the second quarter of 2025. The Company’s allowance for credit losses was 1.27% of total loans and 666% of nonperforming loans at June 30, 2026, compared with 1.29% of total loans and 457% of nonperforming loans at March 31, 2026. In addition, the allowance for credit losses on unfunded lending-related commitments totaled $6.6 million as of June 30, 2026, compared with $5.9 million as of March 31, 2026. Capital As of June 30, 2026, the Company exceeded all regulatory capital requirements under Basel III as summarized in the following table: June 30, 2026 For CapitalAdequacy PurposesWith CapitalConservation Buffer Total capital to risk-weighted assets 16.20 % 10.50 % Tier 1 capital to risk-weighted assets 13.59 8.50 Common equity tier 1 capital ratio 12.64 7.00 Tier 1 leverage ratio 11.01 4.00
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HBT Financial, Inc. Page 5 The ratio of tangible common equity to tangible assets increased to 9.69% as of June 30, 2026, from 9.31% as of March 31, 2026, and tangible book value per share increased by $0.59 to $17.60 as of June 30, 2026, when compared to March 31, 2026. During the second quarter of 2026, the Company repurchased 15,466 shares of its common stock at a weighted average price of $27.53 under its stock repurchase program. The Company’s Board of Directors has authorized the repurchase of up to $30.0 million of HBT Financial common stock under its stock repurchase program, which is in effect until January 1, 2027. As of June 30, 2026, the Company had $14.0 million remaining under the stock repurchase program. ____________________________________ (1) See “Reconciliation of Non-GAAP Financial Measures” below for reconciliation of non-GAAP financial measures to their most closely comparable GAAP financial measures. About HBT Financial, Inc. HBT Financial, Inc., headquartered in Bloomington, Illinois, is the holding company for Heartland Bank and Trust Company, and has banking roots that can be traced back to 1920. HBT Financial provides a comprehensive suite of financial products and services to consumers, businesses, and municipal entities throughout Illinois, eastern Iowa, and suburban St. Louis through 83 full-service branches. As of June 30, 2026, HBT Financial had total assets of $6.7 billion, total loans of $4.8 billion, and total deposits of $5.8 billion. Non-GAAP Financial Measures Some of the financial measures included in this press release are not measures of financial performance recognized in accordance with GAAP. These non-GAAP financial measures include adjusted net income, adjusted earnings per share, adjusted ROAA, pre-provision net revenue, pre-provision net revenue less charge-offs (recoveries), adjusted pre-provision net revenue, adjusted pre-provision net revenue less charge-offs (recoveries), net interest income (tax-equivalent basis), net interest margin (tax-equivalent basis), efficiency ratio (tax-equivalent basis), adjusted efficiency ratio (tax-equivalent basis), the ratio of tangible common equity to tangible assets, tangible book value per share, adjusted ROAE, ROATCE, and adjusted ROATCE. Our management uses these non-GAAP financial measures, together with the related GAAP financial measures, in its analysis of our performance and in making business decisions. Management believes that it is a standard practice in the banking industry to present these non-GAAP financial measures, and accordingly believes that providing these measures may be useful for peer comparison purposes. These disclosures should not be viewed as substitutes for the results determined to be in accordance with GAAP; nor are they necessarily comparable to non-GAAP financial measures that may be presented by other companies. See our reconciliation of non-GAAP financial measures to their most directly comparable GAAP financial measures in the “Reconciliation of Non-GAAP Financial Measures” tables. Forward-Looking Statements Readers should note that in addition to the historical information contained herein, this press release contains, and future oral and written statements of the Company and its management may contain, “forward-looking statements” within the meanings of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements generally can be identified by the use of forward-looking terminology such as “will,” “propose,” “may,” “plan,” “seek,” “expect,” “intend,” “estimate,” “anticipate,” “believe,” “continue,” or “should,” or similar terminology and the negative forms of such words. Any forward-looking statements presented herein are made only as of the date of this press release, and the Company does not undertake any obligation to update or revise any forward-looking statements to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise. Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to: (1) the strength of the local, state, national and international economies and financial markets (including effects of inflationary pressures, global energy market conditions, the threat or implementation of tariffs, immigration enforcement and changes in foreign policy); (2) policy changes in, and the interpretation and prioritization of, local, state and federal laws, regulations and governmental policies, including executive orders; (3) the economic impact of any future terrorist threats and attacks, widespread disease or pandemics, acts of war or other threats thereof (including the Russian invasion of Ukraine, ongoing conflicts in the Middle East, and (1) (1)
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HBT Financial, Inc. Page 6 other international military conflicts that can increase levels of political and economic unpredictability, contribute to rising energy and commodity prices, affect global supply chains, increase the volatility of financial markets, and other matters beyond our control), and the response of the local, state and national governments to any such adverse external events; (4) new and revised accounting policies and practices, as may be adopted by state and federal regulatory banking agencies, the Financial Accounting Standards Board or the Public Company Accounting Oversight Board; (5) the imposition of tariffs or other governmental policies impacting the value of products produced by the Company's commercial borrowers; (6) changes in interest rates and prepayment rates of the Company’s assets; (7) increased competition in the financial services sector, including from non-bank competitors such as credit unions, private credit firms, fintech companies, and digital asset service providers, and the inability to attract new customers; (8) technological changes implemented by us and other parties, including our third-party vendors, which may have unforeseen consequences to us and our customers; (9) emerging issues related to the development and use of artificial intelligence that could give rise to legal or regulatory action, damage our reputation or otherwise materially harm our business or customers; (10) unexpected results of acquisitions, which may include failure to realize the anticipated benefits of acquisitions and the possibility that transaction costs may be greater than anticipated, including the acquisition of CNB; (11) the loss of key executives and employees, talent shortages and employee turnover; (12) changes in consumer spending; (13) unexpected outcomes or costs of existing or new litigation or other legal proceedings and regulatory actions involving the Company; (14) the economic impact on the Company and its customers of climate change, natural disasters and of exceptional weather occurrences such as tornadoes, floods and blizzards; (15) fluctuations in the value of securities held in our securities portfolio, including as a result of changes in interest rates; (16) credit risks and risks from concentrations (by type of borrower, geographic area, collateral and industry) within our loan portfolio (including commercial real estate loans) and large loans to certain borrowers; (17) the overall health of the local and national real estate market; (18) the ability to maintain an adequate level of allowance for credit losses on loans; (19) the concentration of large deposits from certain clients who have balances above current FDIC insurance limits and who may withdraw deposits to diversify their exposure; (20) the availability of future equity and debt issuances and other capital raising opportunities on favorable terms; (21) the ability to successfully manage liquidity risk, which may increase dependence on non-core funding sources such as brokered deposits, and may negatively impact the Company’s cost of funds; (22) the level of nonperforming assets on our balance sheet; (23) interruptions involving our information technology and communications systems or those of our third-party servicers; (24) the occurrence of fraudulent activity, breaches or failures of our third-party vendors’ information security controls or cybersecurity-related incidents, including as a result of sophisticated attacks using artificial intelligence and similar tools or as a result of insider fraud; (25) the effectiveness of the Company’s risk management framework; and (26) the ability of the Company to manage the risks associated with the foregoing as well as anticipated. Readers should note that the forward-looking statements included in this press release are not a guarantee of future events, and that actual events may differ materially from those made in or suggested by the forward-looking statements. Additional information concerning the Company and its business, including additional factors that could materially affect the Company’s financial results, is included in the Company’s filings with the Securities and Exchange Commission. CONTACT: Peter Chapman HBTIR@hbtbank.com (309) 664-4556
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HBT Financial, Inc. Page 7 HBT Financial, Inc. Unaudited Consolidated Financial Summary As of or for the Three Months Ended Six Months Ended June 30, (dollars in thousands, except per share data) June 30,2026 March 31,2026 June 30,2025 2026 2025 Interest and dividend income $ 88,583 $ 71,839 $ 63,919 $ 160,422 $ 127,057 Interest expense 19,527 15,452 14,261 34,979 28,691 Net interest income 69,056 56,387 49,658 125,443 98,366 Provision for credit losses 676 (156) 526 520 1,102 Net interest income after provision for credit losses 68,380 56,543 49,132 124,923 97,264 Noninterest income 11,841 10,944 9,140 22,785 18,446 Noninterest expense 42,446 52,437 31,914 94,883 63,849 Income before income tax expense 37,775 15,050 26,358 52,825 51,861 Income tax expense 9,931 3,850 7,128 13,781 13,556 Net income $ 27,844 $ 11,200 $ 19,230 $ 39,044 $ 38,305 Earnings per share - diluted $ 0.76 $ 0.34 $ 0.61 $ 1.12 $ 1.21 Adjusted net income $ 28,535 $ 22,610 $ 19,803 $ 51,145 $ 39,056 Adjusted earnings per share - diluted 0.78 0.68 0.63 1.47 1.23 Book value per share $ 21.03 $ 20.54 $ 18.44 Tangible book value per share 17.60 17.01 16.02 Shares of common stock outstanding 36,365,612 36,381,078 31,495,434 Weighted average shares of common stock outstanding, including all dilutive potential shares 36,466,688 33,300,096 31,588,541 34,892,139 31,649,766 SUMMARY RATIOS Net interest margin * 4.32 % 4.20 % 4.14 % 4.27 % 4.13 % Net interest margin (tax-equivalent basis) * 4.38 4.25 4.19 4.32 4.18 Efficiency ratio 50.67 % 76.56 % 53.10 % 62.43 % 53.47 % Efficiency ratio (tax-equivalent basis) 50.14 75.83 52.61 61.81 52.97 Loan to deposit ratio 82.54 % 80.76 % 77.75 % Return on average assets * 1.66 % 0.80 % 1.53 % 1.26 % 1.53 % Return on average stockholders' equity * 14.73 6.77 13.47 11.02 13.70 Return on average tangible common equity * 17.69 7.87 15.55 13.03 15.87 Adjusted return on average assets * 1.70 % 1.60 % 1.58 % 1.66 % 1.56 % Adjusted return on average stockholders' equity * 15.09 13.67 13.87 14.43 13.97 Adjusted return on average tangible common equity * 18.13 15.89 16.02 17.07 16.18 CAPITAL Total capital to risk-weighted assets 16.20 % 15.99 % 17.74 % Tier 1 capital to risk-weighted assets 13.59 13.38 15.60 Common equity tier 1 capital ratio 12.64 12.42 14.26 Tier 1 leverage ratio 11.01 12.63 11.86 Total stockholders' equity to total assets 11.37 11.03 11.58 Tangible common equity to tangible assets 9.69 9.31 10.21 ASSET QUALITY Net charge-offs (recoveries) to average loans * (0.01)% 0.08 % 0.12 % 0.03 % 0.09 % Allowance for credit losses to loans, before allowance forcredit losses 1.27 1.29 1.24 Nonperforming loans to loans, before allowance for credit losses 0.19 0.28 0.17 Nonperforming assets to total assets 0.15 0.21 0.13 ____________________________________ * Annualized measure. (1) See “Reconciliation of Non-GAAP Financial Measures” below for reconciliation of non-GAAP financial measures to their most closely comparable GAAP financial measures. (2) On a tax-equivalent basis assuming a federal income tax rate of 21% and a state income tax rate of 9.5%. (1) (1) (1) (1)(2) (1)(2) (1) (1) (1) (1) (1)
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HBT Financial, Inc. Page 8 HBT Financial, Inc. Unaudited Consolidated Financial Summary Consolidated Statements of Income Three Months Ended Six Months Ended June 30, (dollars in thousands, except per share data) June 30, 2026 March 31, 2026 June 30, 2025 2026 2025 INTEREST AND DIVIDEND INCOME Loans, including fees: Taxable $ 73,668 $ 58,881 $ 53,156 $ 132,549 $ 106,525 Federally tax exempt 1,539 1,317 1,215 2,856 2,383 Debt securities: Taxable 11,167 9,544 7,434 20,711 14,370 Federally tax exempt 1,001 658 457 1,659 926 Interest-bearing deposits in bank 1,024 1,276 1,544 2,300 2,609 Other interest and dividend income 184 163 113 347 244 Total interest and dividend income 88,583 71,839 63,919 160,422 127,057 INTEREST EXPENSE Deposits 17,253 14,109 12,835 31,362 25,774 Securities sold under agreements to repurchase 14 16 — 30 22 Borrowings 170 209 30 379 139 Subordinated notes 1,245 278 469 1,523 939 Junior subordinated debentures issued to capital trusts 845 840 927 1,685 1,817 Total interest expense 19,527 15,452 14,261 34,979 28,691 Net interest income 69,056 56,387 49,658 125,443 98,366 PROVISION FOR CREDIT LOSSES 676 (156) 526 520 1,102 Net interest income after provision for credit losses 68,380 56,543 49,132 124,923 97,264 NONINTEREST INCOME Card income 3,428 2,751 2,797 6,179 5,345 Wealth management fees 3,917 3,764 2,826 7,681 5,667 Service charges on deposit accounts 2,489 2,160 1,915 4,649 3,859 Mortgage servicing 1,143 983 1,042 2,126 2,032 Mortgage servicing rights fair value adjustment (751) 197 (751) (554) (1,059) Gains on sale of mortgage loans 412 331 459 743 711 Unrealized gains (losses) on equity securities 191 (112) 23 79 31 Gains (losses) on foreclosed assets (129) 40 14 (89) 27 Gains (losses) on other assets (2) (210) (128) (212) (74) Income on bank owned life insurance 206 188 167 394 331 Other noninterest income 937 852 776 1,789 1,576 Total noninterest income 11,841 10,944 9,140 22,785 18,446 NONINTEREST EXPENSE Salaries 21,981 23,061 16,452 45,042 33,505 Employee benefits 4,185 3,920 3,580 8,105 6,865 Occupancy of bank premises 3,509 3,124 2,471 6,633 5,096 Furniture and equipment 931 608 575 1,539 1,020 Data processing 3,763 11,794 2,687 15,557 5,404 Marketing and customer relations 1,386 1,144 1,020 2,530 2,164 Amortization of intangible assets 1,455 887 694 2,342 1,389 FDIC insurance 677 588 551 1,265 1,113 Loan collection and servicing 555 696 360 1,251 743 Foreclosed assets 40 60 67 100 72 Other noninterest expense 3,964 6,555 3,457 10,519 6,478 Total noninterest expense 42,446 52,437 31,914 94,883 63,849 INCOME BEFORE INCOME TAX EXPENSE 37,775 15,050 26,358 52,825 51,861 INCOME TAX EXPENSE 9,931 3,850 7,128 13,781 13,556 NET INCOME $ 27,844 $ 11,200 $ 19,230 $ 39,044 $ 38,305 EARNINGS PER SHARE - BASIC $ 0.77 $ 0.34 $ 0.61 $ 1.12 $ 1.21 EARNINGS PER SHARE - DILUTED $ 0.76 $ 0.34 $ 0.61 $ 1.12 $ 1.21 WEIGHTED AVERAGE SHARES OF COMMON STOCK OUTSTANDING 36,373,749 33,180,009 31,510,759 34,785,701 31,547,669
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HBT Financial, Inc. Page 9 HBT Financial, Inc. Unaudited Consolidated Financial Summary Consolidated Balance Sheets (dollars in thousands) June 30, 2026 March 31, 2026 June 30, 2025 ASSETS Cash and due from banks $ 28,634 $ 37,371 $ 25,563 Interest-bearing deposits with banks 103,616 250,282 170,179 Cash and cash equivalents 132,250 287,653 195,742 Interest-bearing time deposits with banks 245 245 — Debt securities available-for-sale, at fair value 1,085,908 1,025,992 773,206 Debt securities held-to-maturity 443,042 453,850 481,942 Equity securities with readily determinable fair value 3,546 3,355 3,346 Equity securities with no readily determinable fair value 6,438 6,395 2,609 Restricted stock, at cost 6,000 6,000 4,979 Loans held for sale 3,857 3,247 2,316 Loans, before allowance for credit losses 4,752,418 4,686,951 3,348,211 Allowance for credit losses (60,564) (60,474) (41,659) Loans, net of allowance for credit losses 4,691,854 4,626,477 3,306,552 Bank owned life insurance 37,883 37,677 24,320 Bank premises and equipment, net 91,418 90,973 68,523 Bank premises held for sale 337 337 140 Foreclosed assets 766 1,149 890 Goodwill 81,949 83,504 59,820 Intangible assets, net 42,858 44,313 16,454 Intangible assets held for sale — 649 — Mortgage servicing rights, at fair value 19,339 20,090 17,768 Investments in unconsolidated subsidiaries 1,614 1,614 1,614 Accrued interest receivable 35,082 35,313 20,624 Other assets 43,260 44,891 37,553 Total assets $ 6,727,646 $ 6,773,724 $ 5,018,398 LIABILITIES AND STOCKHOLDERS' EQUITY Liabilities Deposits: Noninterest-bearing $ 1,313,650 $ 1,342,192 $ 1,034,387 Interest-bearing 4,444,336 4,461,256 3,272,144 Total deposits 5,757,986 5,803,448 4,306,531 Securities sold under agreements to repurchase — 5,046 556 Federal Home Loan Bank advances 12,363 12,332 7,240 Subordinated notes 84,026 84,003 39,593 Junior subordinated debentures issued to capital trusts 52,939 52,924 52,879 Other liabilities 55,599 68,566 30,702 Total liabilities 5,962,913 6,026,319 4,437,501 Stockholders' Equity Common stock 385 385 329 Surplus 447,030 446,555 297,479 Retained earnings 390,528 371,093 341,750 Accumulated other comprehensive income (loss) (29,527) (27,371) (32,739) Treasury stock at cost (43,683) (43,257) (25,922) Total stockholders’ equity 764,733 747,405 580,897 Total liabilities and stockholders’ equity $ 6,727,646 $ 6,773,724 $ 5,018,398 SHARES OF COMMON STOCK OUTSTANDING 36,365,612 36,381,078 31,495,434
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HBT Financial, Inc. Page 10 HBT Financial, Inc. Unaudited Consolidated Financial Summary (dollars in thousands) June 30,2026 March 31,2026 June 30,2025 LOANS Commercial and industrial $ 525,190 $ 528,301 $ 419,430 Commercial real estate - owner occupied 507,163 519,847 317,475 Commercial real estate - non-owner occupied 1,128,594 1,099,784 907,073 Construction and land development 429,793 425,335 310,252 Multi-family 666,586 638,653 453,812 One-to-four family residential 579,612 614,563 451,197 Agricultural and farmland 593,984 596,294 271,644 Municipal, consumer, and other 321,496 264,174 217,328 Total loans $ 4,752,418 $ 4,686,951 $ 3,348,211 (dollars in thousands) June 30,2026 March 31,2026 June 30,2025 DEPOSITS Noninterest-bearing deposits $ 1,313,650 $ 1,342,192 $ 1,034,387 Interest-bearing deposits: Interest-bearing demand 1,351,994 1,365,216 1,097,086 Money market 1,012,207 929,671 831,292 Savings 853,993 900,700 568,971 Time 1,226,142 1,265,669 774,795 Total interest-bearing deposits 4,444,336 4,461,256 3,272,144 Total deposits $ 5,757,986 $ 5,803,448 $ 4,306,531
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HBT Financial, Inc. Page 11 HBT Financial, Inc. Unaudited Consolidated Financial Summary Three Months Ended June 30, 2026 March 31, 2026 June 30, 2025 (dollars in thousands) AverageBalance Interest Yield/Cost * AverageBalance Interest Yield/Cost * AverageBalance Interest Yield/Cost * ASSETS Loans $ 4,731,275 $ 75,207 6.38 % $ 3,890,388 $ 60,198 6.28 % $ 3,417,582 $ 54,371 6.38 % Debt securities 1,517,731 12,168 3.22 1,375,875 10,202 3.01 1,217,386 7,891 2.60 Deposits with banks 138,675 1,024 2.96 163,761 1,276 3.16 160,726 1,544 3.85 Other 17,455 184 4.20 14,389 163 4.60 12,519 113 3.66 Total interest-earning assets 6,405,136 $ 88,583 5.55 % 5,444,413 $ 71,839 5.35 % 4,808,213 $ 63,919 5.33 % Allowance for credit losses (60,590) (48,362) (42,118) Noninterest-earning assets 389,370 317,393 270,580 Total assets $ 6,733,916 $ 5,713,444 $ 5,036,675 LIABILITIES AND STOCKHOLDERS'EQUITY Liabilities Interest-bearing deposits: Interest-bearing demand $ 1,359,038 $ 2,238 0.66 % $ 1,223,982 $ 1,931 0.64 % $ 1,125,787 $ 1,569 0.56 % Money market 943,871 4,572 1.94 906,663 4,448 1.99 813,531 4,463 2.20 Savings 864,584 1,209 0.56 671,852 704 0.43 569,193 374 0.26 Time 1,247,241 9,234 2.97 940,019 7,026 3.03 780,536 6,429 3.30 Total interest-bearing deposits 4,414,734 17,253 1.57 3,742,516 14,109 1.53 3,289,047 12,835 1.57 Securities sold under agreements torepurchase 2,492 14 2.34 2,902 16 2.21 1,420 — 0.05 Borrowings 24,721 170 2.76 28,886 209 2.94 7,225 30 1.70 Subordinated notes 84,013 1,245 5.94 19,781 278 5.70 39,582 469 4.76 Junior subordinated debentures issued tocapital trusts 52,930 845 6.40 52,916 840 6.44 52,871 927 7.03 Total interest-bearing liabilities 4,578,890 $ 19,527 1.71 % 3,847,001 $ 15,452 1.63 % 3,390,145 $ 14,261 1.69 % Noninterest-bearing deposits 1,336,123 1,150,594 1,044,539 Noninterest-bearing liabilities 60,660 45,282 29,486 Total liabilities 5,975,673 5,042,877 4,464,170 Stockholders' Equity 758,243 670,567 572,505 Total liabilities and stockholders’equity $ 6,733,916 $ 5,713,444 $ 5,036,675 Net interest income/Net interest margin $ 69,056 4.32 % $ 56,387 4.20 % $ 49,658 4.14 % Tax-equivalent adjustment 851 0.06 649 0.05 548 0.05 Net interest income (tax-equivalent basis)/Net interest margin (tax-equivalent basis) $ 69,907 4.38 % $ 57,036 4.25 % $ 50,206 4.19 % Net interest rate spread 3.84 % 3.72 % 3.64 % Net interest-earning assets $ 1,826,246 $ 1,597,412 $ 1,418,068 Ratio of interest-earning assets to interest-bearing liabilities 1.40 1.42 1.42 Cost of total deposits 1.20 % 1.17 % 1.19 % Cost of funds 1.32 1.25 1.29 ____________________________________ * Annualized measure. (1) Net interest margin represents net interest income divided by average total interest-earning assets. (2) On a tax-equivalent basis assuming a federal income tax rate of 21% and a state income tax rate of 9.5%. (3) See “Reconciliation of Non-GAAP Financial Measures” below for reconciliation of non-GAAP financial measures to their most closely comparable GAAP financial measures. (4) Net interest rate spread represents the difference between the yield on average interest-earning assets and the cost of average interest-bearing liabilities. (5) Net interest-earning assets represents total interest-earning assets less total interest-bearing liabilities. (1) (2) (2) (3) (4) (5)
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HBT Financial, Inc. Page 12 HBT Financial, Inc. Unaudited Consolidated Financial Summary Six Months Ended June 30, 2026 June 30, 2025 (dollars in thousands) Average Balance Interest Yield/Cost * Average Balance Interest Yield/Cost * ASSETS Loans $ 4,313,154 $ 135,405 6.33 % $ 3,439,124 $ 108,908 6.39 % Debt securities 1,447,195 22,370 3.12 1,210,941 15,296 2.55 Deposits with banks 151,149 2,300 3.07 140,483 2,609 3.75 Other 15,931 347 4.38 12,597 244 3.93 Total interest-earning assets 5,927,429 $ 160,422 5.46 % 4,803,145 $ 127,057 5.33 % Allowance for credit losses (54,510) (42,089) Noninterest-earning assets 352,451 273,193 Total assets $ 6,225,370 $ 5,034,249 LIABILITIES AND STOCKHOLDERS' EQUITY Liabilities Interest-bearing deposits: Interest-bearing demand $ 1,291,883 $ 4,169 0.65 % $ 1,123,212 $ 3,022 0.54 % Money market 925,370 9,020 1.97 810,645 8,860 2.20 Savings 768,750 1,913 0.50 569,343 744 0.26 Time 1,094,479 16,260 3.00 782,307 13,148 3.39 Total interest-bearing deposits 4,080,482 31,362 1.55 3,285,507 25,774 1.58 Securities sold under agreements to repurchase 2,696 30 2.27 5,067 22 0.89 Borrowings 26,792 379 2.85 10,042 139 2.79 Subordinated notes 52,075 1,523 5.90 39,573 939 4.79 Junior subordinated debentures issued to capital trusts 52,923 1,685 6.42 52,864 1,817 6.93 Total interest-bearing liabilities 4,214,968 $ 34,979 1.67 % 3,393,053 $ 28,691 1.71 % Noninterest-bearing deposits 1,243,871 1,045,133 Noninterest-bearing liabilities 51,884 32,404 Total liabilities 5,510,723 4,470,590 Stockholders' Equity 714,647 563,659 Total liabilities and stockholders’ equity $ 6,225,370 5,034,249 Net interest income/Net interest margin $ 125,443 4.27 % $ 98,366 4.13 % Tax-equivalent adjustment 1,500 0.05 1,093 0.05 Net interest income (tax-equivalent basis)/Net interest margin (tax-equivalent basis) $ 126,943 4.32 % $ 99,459 4.18 % Net interest rate spread 3.79 % 3.62 % Net interest-earning assets $ 1,712,461 $ 1,410,092 Ratio of interest-earning assets to interest-bearing liabilities1.41 1.42 Cost of total deposits 1.19 % 1.20 % Cost of funds 1.29 1.30 ____________________________________ (1) Net interest margin represents net interest income divided by average total interest-earning assets. (2) On a tax-equivalent basis assuming a federal income tax rate of 21% and a state income tax rate of 9.5%. (3) See "Reconciliation of Non-GAAP Financial Measures" below for reconciliation of non-GAAP financial measures to their most closely comparable GAAP financial measures. (4) Net interest rate spread represents the difference between the yield on average interest-earning assets and the cost of average interest-bearing liabilities. (5) Net interest-earning assets represents total interest-earning assets less total interest-bearing liabilities. (1) (2) (2) (3) (4) (5)
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HBT Financial, Inc. Page 13 HBT Financial, Inc. Unaudited Consolidated Financial Summary (dollars in thousands) June 30,2026 March 31,2026 June 30,2025 NONPERFORMING ASSETS Nonaccrual $ 9,083 $ 13,229 $ 5,615 Past due 90 days or more, still accruing 6 — 9 Total nonperforming loans 9,089 13,229 5,624 Foreclosed assets 766 1,149 890 Total nonperforming assets $ 9,855 $ 14,378 $ 6,514 Nonperforming loans that are wholly or partially guaranteed by the U.S. Government $ 2,405 $ 2,291 $ 1,878 Allowance for credit losses $ 60,564 $ 60,474 $ 41,659 Loans, before allowance for credit losses 4,752,418 4,686,951 3,348,211 CREDIT QUALITY RATIOS Allowance for credit losses to loans, before allowance for credit losses 1.27 % 1.29 % 1.24 % Allowance for credit losses to nonaccrual loans 666.78 457.13 741.92 Allowance for credit losses to nonperforming loans 666.34 457.13 740.74 Nonaccrual loans to loans, before allowance for credit losses 0.19 0.28 0.17 Nonperforming loans to loans, before allowance for credit losses 0.19 0.28 0.17 Nonperforming assets to total assets 0.15 0.21 0.13 Nonperforming assets to loans, before allowance for credit losses, and foreclosedassets 0.21 0.31 0.19 Three Months Ended Six Months Ended June 30, (dollars in thousands) June 30,2026 March 31,2026 June 30,2025 2026 2025 ALLOWANCE FOR CREDIT LOSSES Beginning balance $ 60,474 $ 41,690 $ 42,111 $ 41,690 $ 42,044 Allowance established in acquisition — 19,957 — 19,957 — Provision for credit losses (10) (415) 595 (425) 1,091 Charge-offs (314) (1,001) (1,252) (1,315) (1,917) Recoveries 414 243 205 657 441 Ending balance $ 60,564 $ 60,474 $ 41,659 $ 60,564 $ 41,659 Net charge-offs (recoveries) $ (100) $ 758 $ 1,047 $ 658 $ 1,476 Average loans 4,731,275 3,890,388 3,417,582 4,313,154 3,439,124 Net charge-offs (recoveries) to average loans * (0.01)% 0.08 % 0.12 % 0.03 % 0.09 % ____________________________________ * Annualized measure. Three Months Ended Six Months Ended June 30, (dollars in thousands) June 30,2026 March 31,2026 June 30,2025 2026 2025 PROVISION FOR CREDIT LOSSES Loans $ (10) $ (415) $ 595 $ (425) $ 1,091 Unfunded lending-related commitments 686 259 (69) 945 11 Total provision for credit losses $ 676 $ (156) $ 526 $ 520 $ 1,102
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HBT Financial, Inc. Page 14 Reconciliation of Non-GAAP Financial Measures – Adjusted Net Income and Adjusted Return on Average Assets Three Months Ended Six Months Ended June 30, (dollars in thousands) June 30,2026 March 31,2026 June 30,2025 2026 2025 Net income $ 27,844 $ 11,200 $ 19,230 $ 39,044 $ 38,305 Less: adjustments Acquisition expenses (257) (15,666) — (15,923) — Net earnings (losses) on closed or sold operations 47 4 — 51 — Gains (losses) on closed branch premises — (210) (50) (210) 9 Mortgage servicing rights fair value adjustment (751) 197 (751) (554) (1,059) Total adjustments (961) (15,675) (801) (16,636) (1,050) Tax effect of adjustments 270 4,265 228 4,535 299 Total adjustments after tax effect (691) (11,410) (573) (12,101) (751) Adjusted net income $ 28,535 $ 22,610 $ 19,803 $ 51,145 $ 39,056 Average assets $ 6,733,916 $ 5,713,444 $ 5,036,675 $ 6,225,370 $ 5,034,249 Return on average assets * 1.66 % 0.80 % 1.53 % 1.26 % 1.53 % Adjusted return on average assets * 1.70 1.60 1.58 1.66 1.56 ____________________________________ * Annualized measure. (1) Assumes a federal income tax rate of 21% and a state income tax rate of 9.5%, and excludes non-deductible acquisition expenses. Reconciliation of Non-GAAP Financial Measures – Adjusted Earnings Per Share — Basic and Diluted Three Months Ended Six Months Ended June 30, (dollars in thousands, except per share amounts) June 30,2026 March 31,2026 June 30,2025 2026 2025 Numerator: Net income $ 27,844 $ 11,200 $ 19,230 $ 39,044 $ 38,305 Adjusted net income $ 28,535 $ 22,610 $ 19,803 $ 51,145 $ 39,056 Denominator: Weighted average common shares outstanding 36,373,749 33,180,009 31,510,759 34,785,701 31,547,669 Dilutive effect of outstanding restricted stock units 92,939 120,087 77,782 106,438 102,097 Weighted average common shares outstanding,including all dilutive potential shares 36,466,688 33,300,096 31,588,541 34,892,139 31,649,766 Earnings per share - basic $ 0.77 $ 0.34 $ 0.61 $ 1.12 $ 1.21 Earnings per share - diluted $ 0.76 $ 0.34 $ 0.61 $ 1.12 $ 1.21 Adjusted earnings per share - basic $ 0.78 $ 0.68 $ 0.63 $ 1.47 $ 1.24 Adjusted earnings per share - diluted $ 0.78 $ 0.68 $ 0.63 $ 1.47 $ 1.23 (1)
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HBT Financial, Inc. Page 15 Reconciliation of Non-GAAP Financial Measures – Pre-Provision Net Revenue, Pre-Provision Net Revenue Less Net Charge-offs (Recoveries), Adjusted Pre-Provision Net Revenue, and Adjusted Pre-Provision Net Revenue Less Net Charge-offs (Recoveries) Three Months Ended Six Months Ended June 30, (dollars in thousands) June 30,2026 March 31,2026 June 30,2025 2026 2025 Net interest income $ 69,056 $ 56,387 $ 49,658 $ 125,443 $ 98,366 Noninterest income 11,841 10,944 9,140 22,785 18,446 Noninterest expense (42,446) (52,437) (31,914) (94,883) (63,849) Pre-provision net revenue 38,451 14,894 26,884 53,345 52,963 Less: adjustments Acquisition expenses (257) (15,666) — (15,923) — Net earnings (losses) on closed or sold operations 47 4 — 51 — Gains (losses) on closed branch premises — (210) (50) (210) 9 Mortgage servicing rights fair value adjustment (751) 197 (751) (554) (1,059) Total adjustments (961) (15,675) (801) (16,636) (1,050) Adjusted pre-provision net revenue $ 39,412 $ 30,569 $ 27,685 $ 69,981 $ 54,013 Pre-provision net revenue $ 38,451 $ 14,894 $ 26,884 $ 53,345 $ 52,963 Less: net charge-offs (recoveries) (100) 758 1,047 658 1,476 Pre-provision net revenue less net charge-offs $ 38,551 $ 14,136 $ 25,837 $ 52,687 $ 51,487 Adjusted pre-provision net revenue $ 39,412 $ 30,569 $ 27,685 $ 69,981 $ 54,013 Less: net charge-offs (recoveries) (100) 758 1,047 658 1,476 Adjusted pre-provision net revenue less netcharge-offs $ 39,512 $ 29,811 $ 26,638 $ 69,323 $ 52,537 Reconciliation of Non-GAAP Financial Measures – Net Interest Income (Tax-equivalent Basis) and Net Interest Margin (Tax-equivalent Basis) Three Months Ended Six Months Ended June 30, (dollars in thousands) June 30,2026 March 31,2026 June 30,2025 2026 2025 Net interest income (tax-equivalent basis) Net interest income $ 69,056 $ 56,387 $ 49,658 $ 125,443 $ 98,366 Tax-equivalent adjustment 851 649 548 1,500 1,093 Net interest income (tax-equivalent basis) $ 69,907 $ 57,036 $ 50,206 $ 126,943 $ 99,459 Net interest margin (tax-equivalent basis) Net interest margin * 4.32 % 4.20 % 4.14 % 4.27 % 4.13 % Tax-equivalent adjustment * 0.06 0.05 0.05 0.05 0.05 Net interest margin (tax-equivalent basis) * 4.38 % 4.25 % 4.19 % 4.32 % 4.18 % Average interest-earning assets $ 6,405,136 $ 5,444,413 $ 4,808,213 $ 5,927,429 $ 4,803,145 ____________________________________ * Annualized measure. (1) On a tax-equivalent basis assuming a federal income tax rate of 21% and a state income tax rate of 9.5%. (1) (1) (1) (1)
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HBT Financial, Inc. Page 16 Reconciliation of Non-GAAP Financial Measures – Efficiency Ratio (Tax-equivalent Basis) and Adjusted Efficiency Ratio (Tax-equivalent Basis) Three Months Ended Six Months Ended June 30, (dollars in thousands) June 30,2026 March 31,2026 June 30,2025 2026 2025 Total noninterest expense $ 42,446 $ 52,437 $ 31,914 $ 94,883 $ 63,849 Less: amortization of intangible assets 1,455 887 694 2,342 1,389 Noninterest expense excluding amortization ofintangible assets 40,991 51,550 31,220 92,541 62,460 Less: adjustments to noninterest expense Acquisition expenses 257 15,666 — 15,923 — Expenses from closed or sold operations 124 149 — 273 — Total adjustments to noninterest expense 381 15,815 — 16,196 — Adjusted noninterest expense $ 40,610 $ 35,735 $ 31,220 $ 76,345 $ 62,460 Net interest income $ 69,056 $ 56,387 $ 49,658 $ 125,443 $ 98,366 Total noninterest income 11,841 10,944 9,140 22,785 18,446 Operating revenue 80,897 67,331 58,798 148,228 116,812 Tax-equivalent adjustment 851 649 548 1,500 1,093 Operating revenue (tax-equivalent basis) 81,748 67,980 59,346 149,728 117,905 Less: adjustments to noninterest income Revenue from closed or sold operations 171 153 — 324 — Gains (losses) on closed branch premises — (210) (50) (210) 9 Mortgage servicing rights fair value adjustment (751) 197 (751) (554) (1,059) Total adjustments to noninterest income (580) 140 (801) (440) (1,050) Adjusted operating revenue (tax-equivalent basis) $ 82,328 $ 67,840 $ 60,147 $ 150,168 $ 118,955 Efficiency ratio 50.67 % 76.56 % 53.10 % 62.43 % 53.47 % Efficiency ratio (tax-equivalent basis) 50.14 75.83 52.61 61.81 52.97 Adjusted efficiency ratio (tax-equivalent basis) 49.33 52.68 51.91 50.84 52.51 ____________________________________ (1) On a tax-equivalent basis assuming a federal income tax rate of 21% and a state income tax rate of 9.5%. (1) (1) (1) (1) (1)
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HBT Financial, Inc. Page 17 Reconciliation of Non-GAAP Financial Measures – Ratio of Tangible Common Equity to Tangible Assets and Tangible Book Value Per Share (dollars in thousands, except per share data) June 30,2026 March 31,2026 June 30,2025 Tangible Common Equity Total stockholders' equity $ 764,733 $ 747,405 $ 580,897 Less: Goodwill 81,949 83,504 59,820 Less: Intangible assets 42,858 44,962 16,454 Tangible common equity $ 639,926 $ 618,939 $ 504,623 Tangible Assets Total assets $ 6,727,646 $ 6,773,724 $ 5,018,398 Less: Goodwill 81,949 83,504 59,820 Less: Intangible assets 42,858 44,962 16,454 Tangible assets $ 6,602,839 $ 6,645,258 $ 4,942,124 Total stockholders' equity to total assets 11.37 % 11.03 % 11.58 % Tangible common equity to tangible assets 9.69 9.31 10.21 Shares of common stock outstanding 36,365,612 36,381,078 31,495,434 Book value per share $ 21.03 $ 20.54 $ 18.44 Tangible book value per share 17.60 17.01 16.02 Reconciliation of Non-GAAP Financial Measures – Return on Average Tangible Common Equity, Adjusted Return on Average Stockholders' Equity and Adjusted Return on Average Tangible Common Equity Three Months Ended Six Months Ended June 30, (dollars in thousands) June 30,2026 March 31,2026 June 30,2025 2026 2025 Average Tangible Common Equity Total stockholders' equity $ 758,243 $ 670,567 $ 572,505 $ 714,647 $ 563,659 Less: Goodwill 83,487 67,977 59,820 75,775 59,820 Less: Intangible assets 43,604 25,382 16,782 34,544 17,130 Average tangible common equity $ 631,152 $ 577,208 $ 495,903 $ 604,328 $ 486,709 Net income $ 27,844 $ 11,200 $ 19,230 $ 39,044 $ 38,305 Adjusted net income 28,535 22,610 19,803 51,145 39,056 Return on average stockholders' equity * 14.73 % 6.77 % 13.47 % 11.02 % 13.70 % Return on average tangible common equity * 17.69 7.87 15.55 13.03 15.87 Adjusted return on average stockholders' equity * 15.09 % 13.67 % 13.87 % 14.43 % 13.97 % Adjusted return on average tangible commonequity * 18.13 15.89 16.02 17.07 16.18 ____________________________________ * Annualized measure.