HBT Financial (HBT) 10-Q7 May 212021 Q1 Quarterly reportFinancial data

Company Profile

DOCUMENT AND ENTITY INFORMATION

DOCUMENT AND ENTITY INFORMATION - shares	3 Months Ended
DOCUMENT AND ENTITY INFORMATION - shares	Mar. 31, 2021	Apr. 27, 2021
DOCUMENT AND ENTITY INFORMATION
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Mar. 31, 2021
Entity File Number	001-39085
Entity Registrant Name	HBT Financial, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	37-1117216
Entity Address, Address Line One	401 North Hershey Rd
Entity Address, City or Town	Bloomington
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	61704
City Area Code	888
Local Phone Number	897-2276
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	HBT
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		27,366,459
Entity Central Index Key	0000775215
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Amendment Flag	false

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
ASSETS
Cash and due from banks	$ 22,976	$ 24,912
Interest-bearing deposits with banks	406,760	287,539
Cash and cash equivalents	429,736	312,451
Debt securities available-for-sale, at fair value	856,835	922,869
Debt securities held-to-maturity (fair value of $195,608 in 2021 and $72,441 in 2020)	192,994	68,395
Equity securities with readily determinable fair value	3,332	3,292
Equity securities with no readily determinable fair value	1,552	1,552
Restricted stock, at cost	2,498	2,498
Loans held for sale	12,882	14,713
Loans, net of allowance for loan losses of $28,759 in 2021 and $31,838 in 2020	2,241,946	2,215,168
Bank premises and equipment, net	52,548	52,904
Bank premises held for sale	121	121
Foreclosed assets	4,748	4,168
Goodwill	23,620	23,620
Core deposit intangible assets, net	2,509	2,798
Mortgage servicing rights, at fair value	7,629	5,934
Investments in unconsolidated subsidiaries	1,165	1,165
Accrued interest receivable	12,718	14,255
Other assets	18,781	20,664
Total assets	3,865,614	3,666,567
Deposits:
Noninterest-bearing	968,991	882,939
Interest-bearing	2,386,975	2,247,595
Total deposits	3,355,966	3,130,534
Securities sold under agreements to repurchase	41,976	45,736
Subordinated notes	39,257	39,238
Junior subordinated debentures issued to capital trusts	37,665	37,648
Other liabilities	33,344	49,494
Total liabilities	3,508,208	3,302,650
COMMITMENTS AND CONTINGENCIES (Notes 7 and 18)
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 27,382,069 in 2021 and 27,457,306 in 2020	275	275
Surplus	191,004	190,875
Retained earnings	165,735	154,614
Accumulated other comprehensive income	1,906	18,153
Treasury stock at cost, 95,462 shares in 2021	(1,514)
Total stockholders' equity	357,406	363,917
Total liabilities and stockholders' equity	$ 3,865,614	$ 3,666,567

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Stockholders' Equity
Debt securities held-to-maturity	$ 195,608	$ 72,441
Allowance for loan losses	$ 28,759	$ 31,838
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	25,000,000	25,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	125,000,000	125,000,000
Common stock, shares issued	27,477,531	27,457,306
Common stock, shares outstanding	27,382,069	27,457,306
Treasury stock ,shares	95,462

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended
CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	Mar. 31, 2021	Mar. 31, 2020
Loans, including fees:
Taxable	$ 25,134	$ 26,941
Federally tax exempt	610	674
Securities:
Taxable	3,633	3,334
Federally tax exempt	1,136	1,028
Interest-bearing deposits in bank	80	729
Other interest and dividend income	13	14
Total interest and dividend income	30,606	32,720
INTEREST EXPENSE
Deposits	644	1,595
Securities sold under agreements to repurchase	7	20
Borrowings	1
Subordinated notes	470
Junior subordinated debentures issued to capital trusts	355	443
Total interest expense	1,477	2,058
Net interest income	29,129	30,662
PROVISION FOR LOAN LOSSES	(3,405)	4,355
Net interest income after provision for loan losses	32,534	26,307
NONINTEREST INCOME
Mortgage servicing	685	724
Mortgage servicing rights fair value adjustment	1,695	(2,171)
Gains on sale of mortgage loans	2,100	536
Gains (losses) on securities	40	(52)
Gains (losses) on foreclosed assets	(76)	35
Gains (losses) on other assets	1	(3)
Other noninterest income	836	743
Total noninterest income	10,808	5,252
NONINTEREST EXPENSE
Salaries	12,596	12,754
Employee benefits	1,722	2,434
Occupancy of bank premises	1,938	1,828
Furniture and equipment	623	603
Data processing	1,688	1,586
Marketing and customer relations	565	1,044
Amortization of intangible assets	289	317
FDIC insurance	240	36
Loan collection and servicing	365	348
Foreclosed assets	143	89
Other noninterest expense	2,375	2,268
Total noninterest expense	22,544	23,307
INCOME BEFORE INCOME TAX EXPENSE	20,798	8,252
INCOME TAX EXPENSE	5,553	2,031
NET INCOME	$ 15,245	$ 6,221
EARNINGS PER SHARE - BASIC	$ 0.55	$ 0.23
EARNINGS PER SHARE - DILUTED	$ 0.55	$ 0.23
WEIGHTED AVERAGE SHARES OF COMMON STOCK OUTSTANDING	27,430,912	27,457,306
Card income
NONINTEREST INCOME
Revenue	$ 2,258	$ 1,792
Service charges on deposit accounts
NONINTEREST INCOME
Revenue	1,297	1,834
Wealth management fees
NONINTEREST INCOME
Revenue	$ 1,972	$ 1,814

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
NET INCOME	$ 15,245	$ 6,221
OTHER COMPREHENSIVE (LOSS) INCOME
Unrealized (losses) gains on debt securities available-for-sale	(23,074)	7,602
Reclassification adjustment for amortization (accretion) of net unrealized gain (loss) on debt securities transferred to held-to-maturity	32	(9)
Unrealized gains (losses) on derivative instruments	219	(970)
Reclassification adjustment for net settlements on derivative instruments	99	2
Total other comprehensive (loss) income, before tax	(22,724)	6,625
Income tax (benefit) expense	(6,477)	1,888
Total other comprehensive (loss) income	(16,247)	4,737
TOTAL COMPREHENSIVE (LOSS) INCOME	$ (1,002)	$ 10,958

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Common Stock	Surplus	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Treasury Stock	Total
Balance at Dec. 31, 2019	$ 275	$ 190,524	$ 134,287	$ 7,832		$ 332,918
Balance (in shares) at Dec. 31, 2019	27,457,306
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income			6,221			6,221
Other comprehensive income (loss)				4,737		4,737
Stock-based compensation		67				67
Cash dividends and dividend equivalents			(4,130)			(4,130)
Balance at Mar. 31, 2020	$ 275	190,591	136,378	12,569		339,813
Balance (in shares) at Mar. 31, 2020	27,457,306
Balance at Dec. 31, 2020	$ 275	190,875	154,614	18,153		363,917
Balance (in shares) at Dec. 31, 2020	27,457,306
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income			15,245			15,245
Other comprehensive income (loss)				(16,247)		(16,247)
Stock-based compensation		129				129
Issuance of common stock upon vesting of restricted stock units (in shares)	20,225
Repurchase of common stock					$ (1,514)	(1,514)
Repurchase of common stock (in shares)	(95,462)
Cash dividends and dividend equivalents			(4,124)			(4,124)
Balance at Mar. 31, 2021	$ 275	$ 191,004	$ 165,735	$ 1,906	$ (1,514)	$ 357,406
Balance (in shares) at Mar. 31, 2021	27,382,069

CONSOLIDATED STATEMENTS OF CH_2

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Stock Transactions, Parenthetical Disclosures [Abstract]
Cash dividends	$ 0.15	$ 0.15

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 15,245	$ 6,221
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation expense	774	690
Provision for loan losses	(3,405)	4,355
Net amortization of debt securities	1,732	790
Amortization of unrealized gain on dedesignated cash flow hedge		(32)
Deferred income tax expense (benefit)	685	(678)
Stock-based compensation	129	67
Net accretion of discount and deferred loan fees on loans	(2,562)	(922)
Net unrealized (gain) loss on equity securities	(40)	52
Net loss on sales of bank premises and equipment		3
Net loss (gain) on sales of foreclosed assets	3	(75)
Write-down of foreclosed assets	73	47
Amortization of intangibles	289	317
(Increase) decrease in mortgage servicing rights	(1,695)	2,171
Amortization of discount and issuance costs on subordinated notes and debentures	36	16
Mortgage loans originated for sale	(71,835)	(32,156)
Proceeds from sale of mortgage loans	75,766	32,418
Net gain on sale of mortgage loans	(2,100)	(536)
Decrease in accrued interest receivable	1,537	1,855
Decrease in other assets	875	887
Decrease in other liabilities	(9,032)	(2,971)
Net cash provided by operating activities	6,475	12,519
CASH FLOWS FROM INVESTING ACTIVITIES
Net change in interest-bearing time deposits with banks		248
Proceeds from paydowns, maturities, and calls of debt securities	59,641	48,305
Purchase of securities	(142,980)	(56,349)
Net increase (decrease) in loans	(21,482)	31,210
Purchases of bank premises and equipment	(418)	(841)
Proceeds from sales of foreclosed assets	15	677
Net cash (used in) provided by investing activities	(105,224)	23,250
CASH FLOWS FROM FINANCING ACTIVITIES
Net increase (decrease) in deposits	225,432	(46,552)
Net decrease in repurchase agreements	(3,760)	(3,622)
Repurchase of common stock	(1,514)
Cash dividends and dividend equivalents paid	(4,124)	(4,130)
Net cash provided by (used in) financing activities	216,034	(54,304)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	117,285	(18,535)
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR	312,451	283,971
CASH AND CASH EQUIVALENTS AT END OF PERIOD	429,736	265,436
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
Cash paid for interest	2,077	2,166
Cash paid for income taxes		985
SUPPLEMENTAL DISCLOSURES OF NONCASH INVESTING ACTIVITIES
Transfers of loans to foreclosed assets	$ 671	$ 19

ACCOUNTING POLICIES

ACCOUNTING POLICIES	3 Months Ended
ACCOUNTING POLICIES	Mar. 31, 2021
ACCOUNTING POLICIES
ACCOUNTING POLICIES	NOTE 1 – ACCOUNTING POLICIES Basis of Presentation HBT Financial, Inc. (the Company) is headquartered in Bloomington, Illinois and is the holding company for Heartland Bank and Trust Company (the Bank or Heartland Bank). The Bank provides a comprehensive suite of business, commercial, wealth management and retail banking products and services to individuals, businesses, and municipal entities throughout Central and Northeastern Illinois. The unaudited consolidated financial statements, including the notes thereto, have been prepared in accordance with generally accepted accounting principles (GAAP) interim reporting requirements. Certain information in footnote disclosures normally included in financial statements prepared in accordance with GAAP has been condensed or omitted pursuant to rules and regulations of the Securities and Exchange Commission. These interim unaudited consolidated financial statements and notes thereto should be read in conjunction with the Company’s audited consolidated financial statements and accompanying notes included in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (SEC) on March 12, 2021. The unaudited consolidated financial statements include all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of the results for the interim periods. The results for interim periods are not necessarily indicative of results for a full year. The Company qualifies as an "emerging growth company" as defined by the Jumpstart Our Business Startups Act (JOBS Act). The JOBS Act permits emerging growth companies an extended transition period for complying with new or revised accounting standards affecting public companies. The Company has elected to use the extended transition period until the Company is no longer an emerging growth company or until the Company chooses to affirmatively and irrevocably opt out of the extended transition period. As a result, the Company’s financial statements may not be comparable to companies that comply with new or revised accounting pronouncements applicable to public companies. Merger of State Bank of Lincoln into Heartland Bank On October 20, 2020, Heartland Bank and State Bank of Lincoln, both wholly-owned bank subsidiaries of the Company on that date, entered into a Bank Merger Agreement providing for the merger of State Bank of Lincoln into Heartland Bank. The merger was consummated on December 31, 2020, resulting in Heartland Bank being our sole bank subsidiary, with the branch locations in Lincoln, Illinois operating as “State Bank of Lincoln, a division of Heartland Bank and Trust Company.” Use of Estimates The accompanying consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America. In preparing the financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the balance sheet and the reported results of operations for the periods then ended. Actual results could differ significantly from those estimates. Material estimates that are particularly susceptible to significant changes in the near term relate to the determination of the allowance for loan losses, goodwill, and income taxes. Segment Reporting The Company’s operations consist of one reportable segment called community banking. Reclassifications Certain prior period amounts have been reclassified to conform to the current period presentation without any impact on the reported amounts of net income or stockholders’ equity. Subsequent Events In preparing these consolidated financial statements, the Company has evaluated events and transactions for potential recognition or disclosure through the date the financial statements were issued. Recent Accounting Pronouncements In June 2016, the Financial Accounting Standards Board (FASB) issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments In January 2017, the FASB issued ASU 2017-04, Intangibles – Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting Reference Rate Reform (Topic 848): Scope

SECURITIES

SECURITIES	3 Months Ended
SECURITIES	Mar. 31, 2021
SECURITIES
SECURITIES	NOTE 2 – SECURITIES The carrying balances of the securities were as follows: March 31, December 31, 2021 2020 (dollars in thousands) Debt securities available-for-sale $ 856,835 $ 922,869 Debt securities held-to-maturity 192,994 68,395 Equity securities with readily determinable fair value 3,332 3,292 Equity securities with no readily determinable fair value 1,552 1,552 Total securities $ 1,054,713 $ 996,108 There were no sales of securities during the three months ended March 31, 2021 and 2020. Gains (losses) on securities were as follows during the three months ended March 31: Three Months Ended March 31, 2021 2020 (dollars in thousands) Net realized gains (losses) on sales $ — $ — Net unrealized gains (losses) on equity securities: Readily determinable fair value 40 (52) No readily determinable fair value — — Gains (losses) on securities $ 40 $ (52) On March 31, 2021, the Company transferred certain debt securities from the available-for-sale category to the held-to-maturity category in order to better reflect the revised intentions of the Company due to possible market value volatility, resulting from a potential rise in interest rates. The following is a summary of the amortized cost and fair value of securities transferred to the held-to-maturity category: Amortized Cost Fair Value (dollars in thousands) U.S. government agency $ 7,593 $ 7,323 Mortgage-backed: Agency residential 8,776 8,536 Agency commercial 118,792 113,861 Total $ 135,161 $ 129,720 The debt securities were transferred between categories at fair value, with the transfer date fair value becoming the new amortized cost for each security transferred. The unrealized gain (loss), net of tax, at the date of transfer remains a component of accumulated other comprehensive income, but will be amortized over the remaining life of the debt securities as an adjustment of yield in a manner consistent with amortization of any premium or discount. As a result, the amortization of an unrealized gain (loss) reported in accumulated other comprehensive income will offset or mitigate the effect on interest income of the amortization of the premium or discount for that held-to-maturity debt security. Debt Securities The amortized cost and fair values of debt securities, with gross unrealized gains and losses, are as follows: March 31, 2021 Amortized Gross Gross Fair Value Available-for-sale: (dollars in thousands) U.S. government agency $ 129,494 $ 1,785 $ (3,341) $ 127,938 Municipal 280,212 6,479 (4,358) 282,333 Mortgage-backed: Agency residential 164,942 4,366 (204) 169,104 Agency commercial 208,692 2,861 (3,556) 207,997 Corporate 67,959 1,950 (446) 69,463 Total available-for-sale 851,299 17,441 (11,905) 856,835 Held-to-maturity: U.S. government agency 7,323 — — 7,323 Municipal 21,067 1,188 — 22,255 Mortgage-backed: Agency residential 20,335 388 — 20,723 Agency commercial 144,269 1,323 (285) 145,307 Total held-to-maturity 192,994 2,899 (285) 195,608 Total debt securities $ 1,044,293 $ 20,340 $ (12,190) $ 1,052,443 December 31, 2020 Amortized Gross Gross Fair Value Available-for-sale: (dollars in thousands) U.S. government agency $ 118,282 $ 3,720 $ (9) $ 121,993 Municipal 265,309 9,232 (280) 274,261 Mortgage-backed: Agency residential 198,543 4,871 (162) 203,252 Agency commercial 246,649 4,651 (534) 250,766 Corporate 70,917 1,786 (106) 72,597 Total available-for-sale 899,700 24,260 (1,091) 922,869 Held-to-maturity: Municipal 22,484 1,390 — 23,874 Mortgage-backed: Agency residential 13,031 452 — 13,483 Agency commercial 32,880 2,222 (18) 35,084 Total held-to-maturity 68,395 4,064 (18) 72,441 Total debt securities $ 968,095 $ 28,324 $ (1,109) $ 995,310 As of March 31, 2021 and December 31, 2020, the Bank had debt securities with a carrying value of $283,967,000 and $308,064,000, respectively, which were pledged to secure public deposits, securities sold under agreements to repurchase, and for other purposes required or permitted by law. The Company has no direct exposure to the State of Illinois, but approximately 43% of the obligations of local municipalities portfolio consists of debt securities issued by municipalities located in Illinois as of March 31, 2021. Approximately 94% of such debt securities were general obligation issues as of March 31, 2021. The amortized cost and fair value of debt securities by contractual maturity, as of March 31, 2021, are shown below. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Available-for-Sale Held-to-Maturity Amortized Fair Value Amortized Fair Value (dollars in thousands) Due in 1 year or less $ 31,406 $ 31,734 $ 2,772 $ 2,817 Due after 1 year through 5 years 76,138 78,807 12,000 12,770 Due after 5 years through 10 years 242,096 242,487 13,227 13,580 Due after 10 years 128,025 126,706 391 411 Mortgage-backed: Agency residential 164,942 169,104 20,335 20,723 Agency commercial 208,692 207,997 144,269 145,307 Total $ 851,299 $ 856,835 $ 192,994 $ 195,608 The following tables present gross unrealized losses and fair value of debt securities, aggregated by category and length of time that individual debt securities have been in a continuous unrealized loss position, as of March 31, 2021 and December 31, 2020: Investments in a Continuous Unrealized Loss Position Less than 12 Months 12 Months or More Total March 31, 2021 Unrealized Fair Value Unrealized Fair Value Unrealized Fair Value Available-for-sale: (dollars in thousands) U.S. government agency $ (3,341) $ 80,395 $ — $ — $ (3,341) $ 80,395 Municipal (4,358) 119,502 — — (4,358) 119,502 Mortgage-backed: Agency residential (165) 26,810 (39) 3,594 (204) 30,404 Agency commercial (3,556) 119,719 — — (3,556) 119,719 Corporate (446) 7,009 — — (446) 7,009 Total available-for-sale (11,866) 353,435 (39) 3,594 (11,905) 357,029 Held-to-maturity: Mortgage-backed: Agency commercial (285) 7,669 — — (285) 7,669 Total held-to-maturity (285) 7,669 — — (285) 7,669 Total debt securities $ (12,151) $ 361,104 $ (39) $ 3,594 $ (12,190) $ 364,698 Investments in a Continuous Unrealized Loss Position Less than 12 Months 12 Months or More Total December 31, 2020 Unrealized Fair Value Unrealized Fair Value Unrealized Fair Value Available-for-sale: (dollars in thousands) U.S. government agency $ (9) $ 5,919 $ — $ — $ (9) $ 5,919 Municipal (280) 19,652 — — (280) 19,652 Mortgage-backed: Agency residential (142) 20,387 (20) 4,490 (162) 24,877 Agency commercial (524) 57,126 (10) 3,449 (534) 60,575 Corporate (106) 4,849 — — (106) 4,849 Total available-for-sale (1,061) 107,933 (30) 7,939 (1,091) 115,872 Held-to-maturity: Mortgage-backed: Agency commercial (18) 2,983 — — (18) 2,983 Total held-to-maturity (18) 2,983 — — (18) 2,983 Total debt securities $ (1,079) $ 110,916 $ (30) $ 7,939 $ (1,109) $ 118,855 As of March 31, 2021, there were 14 debt securities in an unrealized loss position for a period of twelve months or more, and 184 debt securities in an unrealized loss position for a period of less than twelve months. These unrealized losses are primarily a result of fluctuations in market interest rates. In analyzing an issuer’s financial condition, management considers whether the debt securities are issued by the federal government or its agencies, whether downgrades by bond rating agencies have occurred, and industry analysts’ reports. Management believes that all declines in value of these debt securities are deemed to be temporary. Equity Securities The Company has elected to measure equity securities with no readily determinable fair value at cost minus impairment, if any, plus or minus changes resulting from observable price changes for identical or similar securities of the same issuer. The initial cost and carrying values of equity securities, with cumulative net unrealized gains and losses are as follows: Readily No Readily Determinable Determinable March 31, 2021 Fair Value Fair Value (dollars in thousands) Initial cost $ 3,098 $ 1,717 Cumulative net unrealized gains (losses) 234 (165) Carrying value $ 3,332 $ 1,552 Readily No Readily Determinable Determinable December 31, 2020 Fair Value Fair Value (dollars in thousands) Initial cost $ 3,098 $ 1,717 Cumulative net unrealized gains (losses) 194 (165) Carrying value $ 3,292 $ 1,552 As of March 31, 2021 and December 31, 2020, the cumulative net unrealized losses on equity securities with no readily determinable fair value reflect downward adjustments based on observable price changes of an identical investment. There have been no impairments or upward adjustments based on observable price changes to equity securities with no readily determinable fair value.

LOANS AND THE ALLOWANCE FOR LOA

LOANS AND THE ALLOWANCE FOR LOAN LOSSES	3 Months Ended
LOANS AND THE ALLOWANCE FOR LOAN LOSSES	Mar. 31, 2021
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
LOANS AND THE ALLOWANCE FOR LOAN LOSSES	NOTE 3 – LOANS AND THE ALLOWANCE FOR LOAN LOSSES Major categories of loans are summarized as follows: March 31, December 31, 2021 2020 (dollars in thousands) Commercial and industrial $ 412,812 $ 393,312 Agricultural and farmland 228,032 222,723 Commercial real estate - owner occupied 224,599 222,360 Commercial real estate - non-owner occupied 516,963 520,395 Multi-family 236,381 236,391 Construction and land development 215,375 225,652 One-to-four family residential 300,768 306,775 Municipal, consumer, and other 135,775 119,398 Loans, before allowance for loan losses 2,270,705 2,247,006 Allowance for loan losses (28,759) (31,838) Loans, net of allowance for loan losses $ 2,241,946 $ 2,215,168 Paycheck Protection Program (PPP) loans (included above) Commercial and industrial $ 175,389 $ 153,860 Agricultural and farmland 8,921 3,049 Municipal, consumer, and other 6,249 6,587 Total PPP loans $ 190,559 $ 163,496 The following tables detail activity in the allowance for loan losses for the three months ended March 31: Commercial Commercial Municipal, Commercial Agricultural Real Estate Real Estate Construction One-to-four Consumer, and and Owner Non-owner and Land Family and Three Months Ended March 31, 2021 Industrial Farmland Occupied Occupied Multi-Family Development Residential Other Total Allowance for loan losses: (dollars in thousands) Balance, December 31, 2020 $ 3,929 $ 793 $ 3,141 $ 11,251 $ 1,957 $ 4,232 $ 1,801 $ 4,734 $ 31,838 Provision for loan losses (1,802) 72 (426) 72 133 (316) (198) (940) (3,405) Charge-offs — — — — — — (72) (123) (195) Recoveries 293 — — 7 — 90 42 89 521 Balance, March 31, 2021 $ 2,420 $ 865 $ 2,715 $ 11,330 $ 2,090 $ 4,006 $ 1,573 $ 3,760 $ 28,759 Commercial Commercial Municipal, Commercial Agricultural Real Estate Real Estate Consumer and and Owner Non-owner Construction Residential and Three Months Ended March 31, 2020 Industrial Farmland Occupied Occupied Multi-Family and Land Real Estate Other Total Allowance for loan losses: (dollars in thousands) Balance, December 31, 2019 $ 4,441 $ 2,766 $ 1,779 $ 3,663 $ 1,024 $ 2,977 $ 2,540 $ 3,109 $ 22,299 Provision for loan losses 538 254 (97) 820 450 237 777 1,376 4,355 Charge-offs (809) (27) — (56) — (1) (104) (224) (1,221) Recoveries 54 — 440 5 — 10 71 74 654 Balance, March 31, 2020 $ 4,224 $ 2,993 $ 2,122 $ 4,432 $ 1,474 $ 3,223 $ 3,284 $ 4,335 $ 26,087 The following tables present the recorded investments in loans and the allowance for loan losses by category: Commercial Commercial Municipal, Commercial Agricultural Real Estate Real Estate Construction One-to-four Consumer, and and Owner Non-owner and Land Family and March 31, 2021 Industrial Farmland Occupied Occupied Multi-Family Development Residential Other Total Loan balances: (dollars in thousands) Collectively evaluated for impairment $ 408,664 $ 226,668 $ 204,327 $ 477,116 $ 234,257 $ 208,835 $ 283,562 $ 122,266 $ 2,165,695 Individually evaluated for impairment 3,230 548 12,680 25,871 874 4,165 9,443 13,455 70,266 Acquired with deteriorated credit quality 918 816 7,592 13,976 1,250 2,375 7,763 54 34,744 Total $ 412,812 $ 228,032 $ 224,599 $ 516,963 $ 236,381 $ 215,375 $ 300,768 $ 135,775 $ 2,270,705 Allowance for loan losses: Collectively evaluated for impairment $ 1,218 $ 845 $ 2,032 $ 6,947 $ 2,080 $ 3,846 $ 1,091 $ 1,328 $ 19,387 Individually evaluated for impairment 1,095 19 420 4,142 — 144 479 2,431 8,730 Acquired with deteriorated credit quality 107 1 263 241 10 16 3 1 642 Total $ 2,420 $ 865 $ 2,715 $ 11,330 $ 2,090 $ 4,006 $ 1,573 $ 3,760 $ 28,759 Commercial Commercial Municipal, Commercial Agricultural Real Estate Real Estate Construction One-to-four Consumer, and and Owner Non-owner and Land Family and December 31, 2020 Industrial Farmland Occupied Occupied Multi-Family Development Residential Other Total Loan balances: (dollars in thousands) Collectively evaluated for impairment $ 387,072 $ 217,077 $ 201,417 $ 480,165 $ 234,252 $ 219,822 $ 287,845 $ 105,796 $ 2,133,446 Individually evaluated for impairment 5,312 4,793 13,132 25,993 876 3,809 10,343 13,546 77,804 Acquired with deteriorated credit quality 928 853 7,811 14,237 1,263 2,021 8,587 56 35,756 Total $ 393,312 $ 222,723 $ 222,360 $ 520,395 $ 236,391 $ 225,652 $ 306,775 $ 119,398 $ 2,247,006 Allowance for loan losses: Collectively evaluated for impairment $ 2,736 $ 771 $ 2,306 $ 6,736 $ 1,950 $ 3,984 $ 1,237 $ 1,432 $ 21,152 Individually evaluated for impairment 1,193 22 429 4,255 — 222 560 3,301 9,982 Acquired with deteriorated credit quality — — 406 260 7 26 4 1 704 Total $ 3,929 $ 793 $ 3,141 $ 11,251 $ 1,957 $ 4,232 $ 1,801 $ 4,734 $ 31,838 The following tables present loans individually evaluated for impairment by category of loans: Unpaid Principal Recorded Related March 31, 2021 Balance Investment Allowance With an allowance recorded: (dollars in thousands) Commercial and industrial $ 2,252 $ 2,240 $ 1,095 Agricultural and farmland 166 165 19 Commercial real estate - owner occupied 3,156 3,121 420 Commercial real estate - non-owner occupied 20,605 20,256 4,142 Multi-family — — — Construction and land development 2,229 2,196 144 One-to-four family residential 2,835 2,587 479 Municipal, consumer, and other 8,770 8,744 2,431 Total $ 40,013 $ 39,309 $ 8,730 With no related allowance: Commercial and industrial $ 1,738 $ 990 $ — Agricultural and farmland 383 383 — Commercial real estate - owner occupied 9,635 9,559 — Commercial real estate - non-owner occupied 5,747 5,615 — Multi-family 874 874 — Construction and land development 1,978 1,969 — One-to-four family residential 8,556 6,856 — Municipal, consumer, and other 4,774 4,711 — Total $ 33,685 $ 30,957 $ — Total loans individually evaluated for impairment: Commercial and industrial $ 3,990 $ 3,230 $ 1,095 Agricultural and farmland 549 548 19 Commercial real estate - owner occupied 12,791 12,680 420 Commercial real estate - non-owner occupied 26,352 25,871 4,142 Multi-family 874 874 — Construction and land development 4,207 4,165 144 One-to-four family residential 11,391 9,443 479 Municipal, consumer, and other 13,544 13,455 2,431 Total $ 73,698 $ 70,266 $ 8,730 Unpaid Principal Recorded Related December 31, 2020 Balance Investment Allowance With an allowance recorded: (dollars in thousands) Commercial and industrial $ 2,737 $ 2,725 $ 1,193 Agricultural and farmland 169 168 22 Commercial real estate - owner occupied 3,072 3,040 429 Commercial real estate - non-owner occupied 20,726 20,394 4,255 Multi-family — — — Construction and land development 2,081 2,055 222 One-to-four family residential 2,963 2,739 560 Municipal, consumer, and other 12,207 12,181 3,301 Total $ 43,955 $ 43,302 $ 9,982 With no related allowance: Commercial and industrial $ 3,322 $ 2,587 $ — Agricultural and farmland 4,625 4,625 — Commercial real estate - owner occupied 10,164 10,092 — Commercial real estate - non-owner occupied 5,727 5,599 — Multi-family 876 876 — Construction and land development 1,762 1,754 — One-to-four family residential 9,325 7,604 — Municipal, consumer, and other 1,431 1,365 — Total $ 37,232 $ 34,502 $ — Total loans individually evaluated for impairment: Commercial and industrial $ 6,059 $ 5,312 $ 1,193 Agricultural and farmland 4,794 4,793 22 Commercial real estate - owner occupied 13,236 13,132 429 Commercial real estate - non-owner occupied 26,453 25,993 4,255 Multi-family 876 876 — Construction and land development 3,843 3,809 222 One-to-four family residential 12,288 10,343 560 Municipal, consumer, and other 13,638 13,546 3,301 Total $ 81,187 $ 77,804 $ 9,982 The following table presents the average recorded investment and interest income recognized for loans individually evaluated for impairment by category of loans during the three months ended March 31: Three Months Ended March 31, 2021 2020 Average Interest Average Interest Recorded Income Recorded Income Investment Recognized Investment Recognized With an allowance recorded: (dollars in thousands) Commercial and industrial $ 2,266 $ 31 $ 3,486 $ 49 Agricultural and farmland 168 2 573 4 Commercial real estate - owner occupied 3,244 41 828 11 Commercial real estate - non-owner occupied 20,361 208 99 2 Multi-family — — — — Construction and land development 2,248 27 3,064 41 One-to-four family residential 2,644 23 3,261 27 Municipal, consumer, and other 8,802 40 12,487 83 Total $ 39,733 $ 372 $ 23,798 $ 217 With no related allowance: Commercial and industrial $ 1,068 $ 14 $ 5,941 $ 58 Agricultural and farmland 383 6 12,520 161 Commercial real estate - owner occupied 9,600 122 10,432 131 Commercial real estate - non-owner occupied 5,665 68 3,340 41 Multi-family 876 10 — — Construction and land development 1,764 26 324 4 One-to-four family residential 6,981 49 8,344 62 Municipal, consumer, and other 4,746 22 1,370 56 Total $ 31,083 $ 317 $ 42,271 $ 513 Total loans individually evaluated for impairment: Commercial and industrial $ 3,334 $ 45 $ 9,427 $ 107 Agricultural and farmland 551 8 13,093 165 Commercial real estate - owner occupied 12,844 163 11,260 142 Commercial real estate - non-owner occupied 26,026 276 3,439 43 Multi-family 876 10 — — Construction and land development 4,012 53 3,388 45 One-to-four family residential 9,625 72 11,605 89 Municipal, consumer, and other 13,548 62 13,857 139 Total $ 70,816 $ 689 $ 66,069 $ 730 The following tables present the recorded investment in loans by category based on current payment and accrual status: Accruing Interest 30 - 89 Days 90+ Days Total March 31, 2021 Current Past Due Past Due Nonaccrual Loans (dollars in thousands) Commercial and industrial $ 412,005 $ — $ — $ 807 $ 412,812 Agricultural and farmland 228,032 — — — 228,032 Commercial real estate - owner occupied 224,026 — — 573 224,599 Commercial real estate - non-owner occupied 512,889 92 — 3,982 516,963 Multi-family 236,381 — — — 236,381 Construction and land development 215,221 15 — 139 215,375 One-to-four family residential 296,530 706 29 3,503 300,768 Municipal, consumer, and other 135,550 113 10 102 135,775 Total $ 2,260,634 $ 926 $ 39 $ 9,106 $ 2,270,705 Accruing Interest 30 - 89 Days 90+ Days Total December 31, 2020 Current Past Due Past Due Nonaccrual Loans (dollars in thousands) Commercial and industrial $ 392,490 $ — $ — $ 822 $ 393,312 Agricultural and farmland 222,723 — — — 222,723 Commercial real estate - owner occupied 221,308 112 — 940 222,360 Commercial real estate - non-owner occupied 516,387 — — 4,008 520,395 Multi-family 236,391 — — — 236,391 Construction and land development 225,508 — — 144 225,652 One-to-four family residential 301,282 984 595 3,914 306,775 Municipal, consumer, and other 119,055 211 21 111 119,398 Total $ 2,235,144 $ 1,307 $ 616 $ 9,939 $ 2,247,006 The following tables present total loans by category based on their assigned risk ratings determined by management: March 31, 2021 Pass Pass-Watch Substandard Doubtful Total (dollars in thousands) Commercial and industrial $ 392,957 $ 15,734 $ 4,121 $ — $ 412,812 Agricultural and farmland 196,773 29,994 1,265 — 228,032 Commercial real estate - owner occupied 180,381 31,165 13,053 — 224,599 Commercial real estate - non-owner occupied 429,273 58,874 28,816 — 516,963 Multi-family 208,800 26,707 874 — 236,381 Construction and land development 182,730 28,480 4,165 — 215,375 One-to-four family residential 276,413 13,839 10,516 — 300,768 Municipal, consumer, and other 121,991 330 13,454 — 135,775 Total $ 1,989,318 $ 205,123 $ 76,264 $ — $ 2,270,705 December 31, 2020 Pass Pass-Watch Substandard Doubtful Total (dollars in thousands) Commercial and industrial $ 368,843 $ 18,258 $ 6,211 $ — $ 393,312 Agricultural and farmland 191,662 25,540 5,521 — 222,723 Commercial real estate - owner occupied 176,823 31,990 13,547 — 222,360 Commercial real estate - non-owner occupied 432,752 58,699 28,944 — 520,395 Multi-family 204,449 31,066 876 — 236,391 Construction and land development 193,646 28,193 3,813 — 225,652 One-to-four family residential 280,198 14,526 12,051 — 306,775 Municipal, consumer, and other 105,539 312 13,547 — 119,398 Total $ 1,953,912 $ 208,584 $ 84,510 $ — $ 2,247,006 There were no troubled debt restructurings during the three months ended March 31, 2021 and 2020. Of the troubled debt restructurings entered into during the last 12 months, there were none which had subsequent payment defaults during the three months ended March 31, 2021 and 2020. For purposes of this disclosure, the Company considers “default” to mean 90 days or more past due as to interest or principal or were on nonaccrual status subsequent to restructuring. As of March 31, 2021 and December 31, 2020, the Company had $8,673,000 and $8,950,000 of troubled debt restructurings, respectively. Restructured loans are evaluated for impairment quarterly as part of the Company’s determination of the allowance for loan losses. There were no material commitments to lend additional funds to debtors owing receivables whose terms have been modified in troubled debt restructurings. The Coronavirus Aid, Relief, and Economic Security Act (the CARES Act), along with a joint statement issued by banking regulatory agencies, provided that short-term loan payment modifications to borrowers experiencing financial hardship due to COVID-19 generally do not need to be accounted for as a troubled debt restructuring. As of March 31, 2021 and December 31, 2020, the Company had loans that were granted a payment modification due to a COVID-19 related financial hardship and have not returned to regular payments were $16,697,000 and $27,986,000, respectively. Substantially all modifications were in the form of a three-month interest-only period or a one-month payment deferral. Some borrowers have received more than one loan payment modification. Changes in the accretable yield for loans acquired with deteriorated credit quality were as follows: Three Months Ended March 31, 2021 2020 (dollars in thousands) Beginning balance $ 1,397 $ 1,662 Reclassification from non-accretable difference 74 8 Accretion income (133) (160) Ending balance $ 1,338 $ 1,510

LOAN SERVICING

LOAN SERVICING	3 Months Ended
LOAN SERVICING	Mar. 31, 2021
LOAN SERVICING
LOAN SERVICING	NOTE 4 – LOAN SERVICING Mortgage loans serviced for others, which are not included in the accompanying consolidated balance sheets, amounted to $1,077,291,000 and $1,090,219,000 as of March 31, 2021 and December 31, 2020, respectively. Activity in mortgage servicing rights is as follows: Three Months Ended March 31, 2021 2020 (dollars in thousands) Beginning balance $ 5,934 $ 8,518 Capitalized servicing rights 397 214 Fair value adjustment: Attributable to payments and principal reductions (467) (403) Attributable to changes in valuation inputs and assumptions 1,765 (1,982) Total fair value adjustment 1,298 (2,385) Ending balance $ 7,629 $ 6,347

FORECLOSED ASSETS

FORECLOSED ASSETS	3 Months Ended
FORECLOSED ASSETS	Mar. 31, 2021
FORECLOSED ASSETS
FORECLOSED ASSETS	NOTE 5 – FORECLOSED ASSETS Foreclosed assets activity is as follows: Three Months Ended March 31, 2021 2020 (dollars in thousands) Beginning balance $ 4,168 $ 5,099 Transfers from loans 671 19 Proceeds from sales (15) (677) Net gain (loss) on sales (3) 75 Direct write-downs (73) (47) Ending balance $ 4,748 $ 4,469 Gains (losses) on foreclosed assets includes the following: Three Months Ended March 31, 2021 2020 (dollars in thousands) Direct write-downs $ (73) $ (47) Net gain (loss) on sales (3) 75 Guarantee reimbursements — 7 Gains (losses) on foreclosed assets $ (76) $ 35 The carrying value of foreclosed one-to-four family residential real estate property as of March 31, 2021 and December 31, 2020, was $1,341,000 and $868,000, respectively. As of March 31, 2021, there were 8 one-to-four family residential real estate loans in the process of foreclosure totaling approximately $947,000. As of December 31, 2020, there were 11 one-to-four family residential real estate loans in the process of foreclosure totaling approximately $1,526,000.

DEPOSITS

DEPOSITS	3 Months Ended
DEPOSITS	Mar. 31, 2021
DEPOSITS
DEPOSITS	NOTE 6 – DEPOSITS The Company’s deposits are summarized below: March 31, 2021 December 31, 2020 (dollars in thousands) Noninterest-bearing deposits $ 968,991 $ 882,939 Interest-bearing deposits: Interest-bearing demand 1,008,954 968,592 Money market 499,088 462,056 Savings 593,472 517,473 Time 285,461 299,474 Total interest-bearing deposits 2,386,975 2,247,595 Total deposits $ 3,355,966 $ 3,130,534 Money market deposits include $6,853,000 and $6,489,000 of reciprocal transaction deposits as of March 31, 2021 and December 31, 2020, respectively. Time deposits include $2,687,000 and $3,164,000 of reciprocal time deposits as of March 31, 2021 and December 31, 2020, respectively. The aggregate amounts of time deposits in denominations of $250,000 or more amounted to $21,900,000 and $26,687,000 as of March 31, 2021 and December 31, 2020, respectively. The aggregate amounts of time deposits in denominations of $100,000 or more amounted to $92,266,000 and $99,649,000 as of March 31, 2021 and December 31, 2020, respectively. The components of interest expense on deposits are as follows: Three Months Ended March 31, 2021 2020 (dollars in thousands) Interest-bearing demand $ 117 $ 251 Money market 89 394 Savings 41 70 Time 397 880 Total interest expense on deposits $ 644 $ 1,595

BORROWINGS

BORROWINGS	3 Months Ended
BORROWINGS	Mar. 31, 2021
BORROWINGS
BORROWINGS	NOTE 7 – BORROWINGS There were no Federal Home Loan Bank of Chicago (FHLB) borrowings outstanding as of March 31, 2021 and December 31, 2020. Available borrowings from the FHLB are secured by FHLB stock held by the Company and pledged security in the form of qualifying loans. The total amount of loans pledged as of March 31, 2021 and December 31, 2020 was $499,886,000 and $493,690,000, respectively. As of March 31, 2021 and December 31, 2020, loans pledged also served as collateral for credit exposure of approximately $355,000 associated with the Bank’s participation in the FHLB’s Mortgage Partnership Finance Program. The Bank also has available borrowings through the discount window of the Federal Reserve Bank of Chicago (FRB). Available borrowings are based on the collateral pledged. As of March 31, 2021 and December 31, 2020, the carrying value of debt securities pledged amounted to $479,000 and $499,000, respectively. There was no outstanding borrowings under the FRB discount window as of March 31, 2021 and December 31, 2020.

SUBORDINATED NOTES

SUBORDINATED NOTES	3 Months Ended
SUBORDINATED NOTES	Mar. 31, 2021
SUBORDINATED NOTES
SUBORDINATED NOTES	NOTE 8 – SUBORDINATED NOTES On September 3, 2020, the Company issued $40,000,000 of fixed-to-floating rate subordinated notes that mature on September 15, 2030. The subordinated notes, which are unsecured obligations of the Company, bear a fixed interest rate of 4.50% for the first five years after issuance and thereafter bear interest at a floating rate equal to three-month SOFR, as determined on the Floating Interest Determination Date, plus 4.37%. Interest is payable semi-annually during the five year fixed rate period and quarterly during the subsequent five year floating rate period. The subordinated notes have an optional redemption in whole or in part on any interest payment date on or after September 15, 2025. If the subordinated notes are redeemed before they mature, the redemption price will be the principal amount plus any accrued but unpaid interest. The transaction resulted in debt issuance costs of $789,000 which will be amortized over 10 years. As of March 31, 2021 and December 31, 2020, 100% of the subordinated notes qualified as Tier 2 capital. The face value and carrying value of the subordinated notes are summarized below: March 31, 2021 December 31, 2020 (dollars in thousands) Subordinated notes, at face value $ 40,000 $ 40,000 Unamortized issuance costs (743) (762) Subordinated notes, at carrying value $ 39,257 $ 39,238

JUNIOR SUBORDINATED DEBENTURES

JUNIOR SUBORDINATED DEBENTURES ISSUED TO CAPITAL TRUSTS	3 Months Ended
JUNIOR SUBORDINATED DEBENTURES ISSUED TO CAPITAL TRUSTS	Mar. 31, 2021
JUNIOR SUBORDINATED DEBENTURES ISSUED TO CAPITAL TRUSTS
JUNIOR SUBORDINATED DEBENTURES ISSUED TO CAPITAL TRUSTS	NOTE 9 – JUNIOR SUBORDINATED DEBENTURES ISSUED TO CAPITAL TRUSTS Five subsidiary business trusts of the Company have issued floating rate capital securities (“capital securities”) which are guaranteed by the Company. The Company owns all of the outstanding stock of the five subsidiary business trusts. The trusts used the proceeds from the issuance of their capital securities to buy floating rate junior subordinated deferrable interest debentures (“junior subordinated debentures”) issued by the Company. These junior subordinated debentures are the only assets of the trusts and the interest payments from the junior subordinated debentures finance the distributions paid on the capital securities. The junior subordinated debentures are unsecured and rank junior and subordinate in the right of payment to all senior debt of the Company. The trusts are not consolidated in the Company’s financial statements. The face and carrying value of junior subordinated debentures are summarized below: March 31, 2021 December 31, 2020 (dollars in thousands) Heartland Bancorp, Inc. Capital Trust B $ 10,310 $ 10,310 Heartland Bancorp, Inc. Capital Trust C 10,310 10,310 Heartland Bancorp, Inc. Capital Trust D 5,155 5,155 FFBI Capital Trust I 7,217 7,217 National Bancorp Statutory Trust I 5,773 5,773 Total junior subordinated debentures, at face value 38,765 38,765 National Bancorp Statutory Trust I unamortized discount (1,100) (1,117) Total junior subordinated debentures, at carrying value $ 37,665 $ 37,648 The interest rates on the junior subordinated debentures are variable, reset quarterly, and are equal to the three-month LIBOR, as determined on the LIBOR Determination Date specific to each junior subordinated debenture, plus a fixed percentage. The interest rates and maturities of the junior subordinated debentures are summarized as follows: Interest Rate at Variable March 31, December 31, Maturity Interest Rate 2021 2020 Date Heartland Bancorp, Inc. Capital Trust B LIBOR plus 2.75 % 2.99 % 2.99 % April 6, 2034 Heartland Bancorp, Inc. Capital Trust C LIBOR plus 1.53 1.71 1.75 June 15, 2037 Heartland Bancorp, Inc. Capital Trust D LIBOR plus 1.35 1.53 1.57 September 15, 2037 FFBI Capital Trust I LIBOR plus 2.80 3.04 3.04 April 6, 2034 National Bancorp Statutory Trust I LIBOR plus 2.90 3.08 3.12 December 31, 2037 The distribution rate payable on the junior subordinated debentures is cumulative and payable quarterly in arrears. The Company has the right, subject to events in default, to defer payments of interest on the junior subordinated debentures at any time by extending the interest payment period for a period not exceeding 20 quarterly periods with respect to each deferral period, provided that no extension period may extend beyond the redemption or maturity date of the junior subordinated debentures. The capital securities are subject to mandatory redemption upon payment of the junior subordinated debentures and carry an interest rate identical to that of the related junior subordinated debenture. The junior subordinated debentures maturity dates may be shortened if certain conditions are met, or at any time within 90 days following the occurrence and continuation of certain changes in either tax treatment or the capital treatment of the debentures or the capital securities. If the junior subordinated debentures are redeemed before they mature, the redemption price will be the principal amount plus any accrued but unpaid interest. The Company has the right to terminate each Capital Trust and cause the junior subordinated debentures to be distributed to the holders of the capital securities in liquidation of such trusts. Under current banking regulations, bank holding companies are allowed to include qualifying trust preferred securities in their Tier 1 Capital for regulatory capital purposes, subject to a 25% limitation to all core (Tier 1) capital elements, net of goodwill and other intangible assets less any associated deferred tax liability. As of March 31, 2021 and December 31, 2020, 100%of the trust preferred securities qualified as Tier 1 capital under the final rule adopted in March 2005.

DERIVATIVE FINANCIAL INSTRUMENT

DERIVATIVE FINANCIAL INSTRUMENTS	3 Months Ended
DERIVATIVE FINANCIAL INSTRUMENTS	Mar. 31, 2021
DERIVATIVE FINANCIAL INSTRUMENTS
DERIVATIVE FINANCIAL INSTRUMENTS	NOTE 10 – DERIVATIVE FINANCIAL INSTRUMENTS Derivative financial instruments are negotiated contracts entered into by two issuing counterparties containing specific agreement terms, including the underlying instrument, amount, exercise price, and maturities. The derivatives accounting guidance requires that the Company recognize all derivative financial instruments as either assets or liabilities at fair value in the consolidated balance sheets. The Company may utilize interest rate swap agreements as part of its asset liability management strategy to help manage its interest rate risk position. Interest Rate Swaps Designated as Cash Flow Hedges The Company designated certain interest rate swap agreements as cash flow hedges on variable-rate borrowings. For derivative instruments that are designated and qualify as a cash flow hedge, the gain or loss on interest rate swaps designated as cash flow hedging instruments, net of tax is reported as a component of accumulated other comprehensive income (loss) and reclassified into earnings in the same period or periods during which the hedged transactions affect earnings. The interest rate swap agreements designated as cash flow hedges are summarized as follows: March 31, 2021 December 31, 2020 Notional Fair Notional Fair Amount Value Amount Value (dollars in thousands) Fair value recorded in other liabilities $ 17,000 $ (1,140) $ 17,000 $ (1,458) As of March 31, 2021, the interest rate swap agreements designated as cash flow hedges had contractual maturities between 2024 and 2025. As of March 31, 2021 and December 31, 2020, the Company had cash pledged and held on deposit at counterparties of $1,310,000 and $1,630,000, respectively. In 2019, the Company had an interest rate swap contract with a notional amount of $10,000,000 designated as a cash flow hedge on variable-rate loans. Beginning April 1, 2019, this hedging relationship was no longer considered highly effective, and the Company discontinued hedge accounting. In accordance with hedge accounting guidance, the net unrealized gain associated with the discontinued hedging relationship, recorded within accumulated other comprehensive income, was reclassified into earnings through April 7, 2020, the period the hedged forecasted transactions affected earnings. The effect of interest rate swap agreements designated as cash flow hedges on the consolidated statements of income are summarized as follows: Location of gross gain (loss) reclassified Amounts of gross gain (loss) from accumulated other reclassified from accumulated comprehensive income to income other comprehensive income Three Months Ended March 31, 2021 2020 Designated as cash flow hedges: (dollars in thousands) Taxable loan interest income $ — $ 32 Junior subordinated debentures interest expense (99) (34) Total $ (99) $ (2) Interest Rate Swaps Not Designated as Hedging Instruments The Company may offer interest rate swap agreements to its commercial borrowers in connection with their risk management needs. The Company manages the risk associated with these contracts by entering into an equal and offsetting derivative with a third-party financial institution. While these interest rate swap agreements generally work together as an economic interest rate hedge, the Company did not designate them for hedge accounting treatment. Consequently, changes in fair value of the corresponding derivative financial asset or liability were recorded as either a charge or credit to current earnings during the period in which the changes occurred. The interest rate swap agreements not designated as hedging instruments are summarized as follows: March 31, 2021 December 31, 2020 Notional Fair Notional Fair Amount Value Amount Value (dollars in thousands) Fair value recorded in other assets: Interest rate swaps with a commercial borrower counterparty $ 115,378 $ 8,496 $ 122,313 $ 15,360 Interest rate swaps with a financial institution counterparty 3,992 64 — — Total fair value recorded in other assets $ 119,370 $ 8,560 $ 122,313 $ 15,360 Fair value recorded in other liabilities: Interest rate swaps with a commercial borrower counterparty $ 3,992 $ (64) $ — $ — Interest rate swaps with a financial institution counterparty 115,378 (8,496) 122,313 (15,360) Total fair value recorded in other liabilities $ 119,370 $ (8,560) $ 122,313 $ (15,360) As of March 31, 2021, the interest rate swap agreements not designated as hedging instruments had contractual maturities between 2022 and 2042. As of March 31, 2021 and December 31, 2020, the Company had $9,974,000 and $15,490,000, respectively, of debt securities pledged and held in safekeeping at the financial institution counterparty. The effect of interest rate contracts not designated as hedging instruments recognized in other noninterest income on the consolidated statements of income are summarized as follows: Three Months Ended March 31, 2021 2020 Not designated as hedging instruments: (dollars in thousands) Gross gains $ 7,564 $ 13,571 Gross losses (7,564) (13,571) Net gains (losses) $ — $ —

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME	3 Months Ended
ACCUMULATED OTHER COMPREHENSIVE INCOME	Mar. 31, 2021
ACCUMULATED OTHER COMPREHENSIVE INCOME
ACCUMULATED OTHER COMPREHENSIVE INCOME	NOTE 11 – ACCUMULATED OTHER COMPREHENSIVE INCOME The following table presents the activity and accumulated balances for components of other comprehensive income (loss): Unrealized Gains (Losses) on Debt Securities Available-for-Sale Held-to-Maturity Derivatives Total (dollars in thousands) Three Months Ended March 31, 2021 Balance, December 31, 2020 $ 19,578 $ (118) $ (1,307) $ 18,153 Transfer from available-for-sale to held-to-maturity 3,890 (3,890) — — Other comprehensive income (loss) before reclassifications (23,074) — 219 (22,855) Reclassifications — 32 99 131 Other comprehensive income (loss), before tax (23,074) 32 318 (22,724) Income tax expense (benefit) (6,577) 9 91 (6,477) Other comprehensive income (loss), after tax (16,497) 23 227 (16,247) Balance, March 31, 2021 $ 6,971 $ (3,985) $ (1,080) $ 1,906 Three Months Ended March 31, 2020 Balance, December 31, 2019 $ 8,659 $ (131) $ (696) $ 7,832 Other comprehensive income (loss) before reclassifications 7,602 — (970) 6,632 Reclassifications — (9) 2 (7) Other comprehensive income (loss), before tax 7,602 (9) (968) 6,625 Income tax expense (benefit) 2,166 (2) (276) 1,888 Other comprehensive income (loss), after tax 5,436 (7) (692) 4,737 Balance, March 31, 2020 $ 14,095 $ (138) $ (1,388) $ 12,569 The amounts reclassified from accumulated other comprehensive income (loss) for unrealized gains (losses) on debt securities available-for-sale are included in gain (loss) on securities in the accompanying consolidated statements of income. The amounts reclassified from accumulated other comprehensive income (loss) for unrealized gains on debt securities held-to-maturity are included in securities interest income in the accompanying consolidated statements of income. The amounts reclassified from accumulated other comprehensive income (loss) for the fair value of derivative financial instruments represent net interest payments received or made on derivatives designated as cash flow hedges. See Note 10 for additional information.

INCOME TAXES

INCOME TAXES	3 Months Ended
INCOME TAXES	Mar. 31, 2021
INCOME TAXES
INCOME TAXES	NOTE 12 – INCOME TAXES Allocation of income tax expense between current and deferred portions is as follows: Three Months Ended March 31, 2021 2020 (dollars in thousands) Current Federal $ 3,170 $ 1,721 State 1,698 988 Total current 4,868 2,709 Deferred Federal 457 (457) State 228 (221) Total deferred 685 (678) Income tax expense $ 5,553 $ 2,031 Income tax expense differs from the statutory federal rate due to the following: Three Months Ended March 31, 2021 2020 Amount Percentage Amount Percentage (dollars in thousands) Federal income tax, at statutory rate $ 4,368 21.0 % $ 1,733 21.0 % Increase (decrease) resulting from: Federally tax exempt interest income (367) (1.8) (357) (4.3) State taxes, net of federal benefit 1,514 7.3 631 7.6 Other 38 0.2 24 0.3 Income tax expense $ 5,553 26.7 % $ 2,031 24.6 % The components of the net deferred tax asset (liability) are as follows: March 31, December 31, 2021 2020 (dollars in thousands) Deferred tax assets Allowance for loan losses $ 8,170 $ 9,046 Compensation related 1,802 2,301 Deferred loan fees 2,470 1,595 Nonaccrual interest 646 660 Foreclosed assets 59 45 Goodwill 287 336 Other 1,049 1,011 Total deferred tax assets 14,483 14,994 Deferred tax liabilities Fixed asset depreciation 4,368 4,361 Mortgage servicing rights 2,175 1,692 Other purchase accounting adjustments 1,080 1,115 Intangible assets 521 580 Prepaid assets 557 685 Net unrealized gain on debt securities 1 6,569 Other 367 370 Total deferred tax liabilities 9,069 15,372 Net deferred tax asset (liability) $ 5,414 $ (378)

EARNINGS PER SHARE

EARNINGS PER SHARE	3 Months Ended
EARNINGS PER SHARE	Mar. 31, 2021
EARNINGS PER SHARE
EARNINGS PER SHARE	NOTE 13 – EARNINGS PER SHARE The Company has granted certain restricted stock units that contain non-forfeitable rights to dividend equivalents. Such restricted stock units are considered participating securities. As such, we have included these restricted stock units in the calculation of basic earnings per share and calculate basic earnings per share using the two-class method. The two-class method of computing earnings per share is an earnings allocation formula that determines earnings per share for each class of common stock and participating security according to dividends declared (or accumulated) and participation rights in undistributed earnings. Diluted earnings per share is computed using the treasury stock method and reflects the potential dilution that could occur if the Company’s outstanding restricted stock units were vested. The following table sets forth the computation of basic and diluted earnings per share: Three Months Ended March 31, 2021 2020 (dollars in thousands) Numerator: Net income $ 15,245 $ 6,221 Earnings allocated to participating securities (31) (15) Numerator for earnings per share - basic and diluted $ 15,214 $ 6,206 Denominator: Weighted average common shares outstanding 27,430,912 27,457,306 Dilutive effect of outstanding restricted stock units 2,489 — Weighted average common shares outstanding, including all dilutive potential shares 27,433,401 27,457,306 Earnings per share - Basic $ 0.55 $ 0.23 Earnings per share - Diluted $ 0.55 $ 0.23

DEFERRED COMPENSATION

DEFERRED COMPENSATION	3 Months Ended
DEFERRED COMPENSATION	Mar. 31, 2021
EMPLOYEE BENEFIT PLANS
DEFERRED COMPENSATION	NOTE 14 – DEFERRED COMPENSATION The Company maintained a supplemental executive retirement plan (the SERP) for certain key executive officers. The SERP benefit payments were scheduled to be paid in equal monthly installments over 30 years. In June 2019, the Company approved the termination of the SERP agreements, and a lump sum payment was made in June 2020 to each participant equal to the present value of any remaining installment payments. During the three months ended March 31, 2020, the Company recognized employee benefits expense for the SERP of $970,000.

STOCK-BASED COMPENSATION PLANS

STOCK-BASED COMPENSATION PLANS	3 Months Ended
STOCK-BASED COMPENSATION PLANS	Mar. 31, 2021
STOCK-BASED COMPENSATION PLANS
STOCK-BASED COMPENSATION PLANS	NOTE 15 – STOCK-BASED COMPENSATION PLANS The Company has adopted the HBT Financial, Inc. Omnibus Incentive Plan (the “Omnibus Incentive Plan”). The Omnibus Incentive Plan provides for grants of (i) stock options, (ii) stock appreciation rights, (iii) restricted shares, (iv) restricted stock units, (v) performance awards, (vi) other share-based awards and (vi) other cash-based awards to eligible employees, non-employee directors and consultants of the Company. The maximum number of shares of common stock available for issuance under the Omnibus Incentive Plan is 1,820,000 shares. The following is a summary of stock-based compensation expense (benefit): Three Months Ended March 31, 2021 2020 (dollars in thousands) Restricted stock units $ 114 $ 67 Performance restricted stock units 15 — Total awards classified as equity 129 67 Stock appreciation rights 130 (335) Total stock-based compensation expense (benefit) $ 259 $ (268) Restricted Stock Units A restricted stock unit grants a participant the right to receive one share of common stock, following the completion of the requisite service period. Restricted stock units are classified as equity. Compensation cost is based on the Company’s stock price on the grant date and is recognized on a straight-line basis over the service period for the entire award. Dividend equivalents on restricted stock units, which are either accrued until vested or paid at the same time as dividends on common stock, are classified as dividends charged to retained earnings. On February 19, 2021, the Company granted 43,047 restricted stock units to certain key employees which vest in three The following is a summary of restricted stock unit activity: Three Months Ended March 31, 2021 2020 Weighted Weighted Average Average Restricted Grant Date Restricted Grant Date Stock Units Fair Value Stock Units Fair Value Beginning balance 71,000 $ 18.98 — $ — Granted 46,347 15.53 73,150 19.03 Vested (20,225) 18.86 — — Forfeited — — — — Ending balance 97,122 $ 17.36 73,150 $ 19.03 A further summary of restricted stock units as of March 31, 2021, is as follows: Weighted Average Restricted Remaining Grant Date Fair Values Stock Units Contractual Term $ 15.53 46,347 2.8 years $ 19.03 50,775 2.8 years As of March 31, 2021, unrecognized compensation cost related to non-vested restricted stock units was $1,602,000. Performance Restricted Stock Units A performance restricted stock unit is similar to a restricted stock unit, except that the number of shares of common stock awarded is based on a performance condition and the completion of the requisite service period. Performance restricted stock units are classified as equity. Compensation cost is based on the Company’s stock price and an assessment of the probable outcome of the performance condition and is recognized on a straight-line basis over the service period of the entire award. Dividend equivalents on performance restricted stock units, which are accrued until vested, are classified as dividends charged to retained earnings. On February 19, 2021, the Company granted 28,697 performance restricted stock units to certain key employees which vest on February 28, 2024. The performance condition is based on the average annual return on average tangible common equity during a three-year performance period. The number of shares of common stock that may be earned ranges from 0% to 150% of the number of performance restricted stock units granted. The total fair value of the performance restricted stock units granted on February 19, 2021 was $405,000, based on the grant date closing price of $15.53 per share and an assessment of the probable outcome of the performance condition on the grant date. The following is a summary of performance restricted stock unit activity: Three months ended March 31, 2021 2020 Maximum Maximum Awarded Weighted Awarded Weighted Performance Average Performance Average Restricted Grant Date Restricted Grant Date Stock Units Fair Value Stock Units Fair Value Beginning balance — $ — — $ — Granted 43,046 15.53 — — Vested — — — — Forfeited — — — — Ending balance 43,046 $ 15.53 — $ — A further summary of performance restricted stock units as of March 31, 2021, is as follows: Maximum Awarded Performance Weighted Average Restricted Remaining Grant Date Fair Values Stock Units Contractual Term $ 15.53 43,046 2.9 years As of March 31, 2021, unrecognized compensation cost related to non-vested performance restricted stock units was $390,000, based on the current assessment of the probable outcome of the performance condition. Stock Appreciation Rights A stock appreciation right grants a participant the right to receive an amount of cash, the value of which equals the appreciation in the Company’s stock price between the grant date and the exercise date. Stock appreciation rights units are classified as liabilities. The liability is based on an option-pricing model used to estimate the fair value of the stock appreciation rights. Compensation cost for unvested stock appreciation rights is recognized on a straight line basis over the service period of the entire award. The unvested stock appreciation rights vest in four equal annual installments beginning on the first anniversary of the grant date. The following is a summary of stock appreciation rights activity: Three Months Ended March 31, 2021 2020 Stock Weighted Stock Weighted Beginning balance 105,570 $ 16.32 110,160 $ 16.32 Granted — — — — Exercised — — — — Expired (1,530) 16.32 — — Forfeited — — — — Ending balance 104,040 $ 16.32 110,160 $ 16.32 A further summary of stock appreciation rights as of March 31, 2021, is as follows: Weighted Average Stock Appreciation Rights Remaining Grant Date Assigned Values Outstanding Exercisable Contractual Term $ 16.32 104,040 85,680 7.9 years As of March 31, 2021, unrecognized compensation cost related to non-vested stock appreciation rights was $67,000. As of March 31, 2021 and December 31, 2020, the liability recorded for outstanding stock appreciation rights was $402,000 and $272,000, respectively. The Company used an option pricing model to value the stock appreciation rights, using the assumptions in the following table. Expected volatility is derived from the historical volatility of the Company’s stock price and a selected peer group of industry-related companies. March 31, December 31, 2021 2020 Risk-free interest rate 1.55 % 0.80 % Expected volatility 34.96 % 34.72 % Expected life (in years) 8.4 8.7 Expected dividend yield 3.50 % 3.96 % As of March 31, 2021, the liability recorded for previously exercised stock appreciation rights was $797,000, which will be paid in three remaining equal annual installments. As of December 31, 2020, the liability recorded for previously exercised units was $1,087,000.

REGULATORY MATTERS

REGULATORY MATTERS	3 Months Ended
REGULATORY MATTERS	Mar. 31, 2021
REGULATORY MATTERS
REGULATORY MATTERS	NOTE 16 – REGULATORY MATTERS The ability of the Company to pay dividends to its stockholders is dependent upon the ability of the Bank to pay dividends to the Company. The Company (on a consolidated basis) and the Bank are each subject to various regulatory capital requirements administered by the federal and state banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory, and possibly additional discretionary, actions by the regulators that, if undertaken, could have a direct material effect on the consolidated financial statements of the Company and the Bank. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company and the Bank must meet specific capital guidelines that involve quantitative measures of the assets, liabilities, and certain off-balance-sheet items as calculated under regulatory accounting practices. The capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. As allowed under the regulations, the Company and the Bank elected to exclude accumulated other comprehensive income, including unrealized gains and losses on securities, in the computation of regulatory capital. Prompt corrective action provisions are not applicable to bank holding companies. Additionally, the Company and the Bank must maintain a “capital conservation buffer” to avoid becoming subject to restrictions on capital distributions and certain discretionary bonus payments to management. As of March 31, 2021 and December 31, 2020, the capital conservation buffer was 2.5%. As of March 31, 2021, the Company and the Bank each met all capital adequacy requirements to which they were subject. The actual and required capital amounts and ratios of HBT Financial, Inc. (on a consolidated basis) and the Bank are as follows: Actual For Capital To Be Well March 31, 2021 Amount Ratio Amount Ratio Amount Ratio (dollars in thousands) Total Capital (to Risk Weighted Assets) Consolidated HBT Financial, Inc. $ 434,408 17.37 % $ 200,018 8.00 % N/A N/A Heartland Bank and Trust Company 397,098 15.90 199,847 8.00 $ 249,809 10.00 % Tier 1 Capital (to Risk Weighted Assets) Consolidated HBT Financial, Inc. $ 366,392 14.65 % $ 150,014 6.00 % N/A N/A Heartland Bank and Trust Company 368,339 14.74 149,885 6.00 $ 199,847 8.00 % Common Equity Tier 1 Capital (to Risk Weighted Assets) Consolidated HBT Financial, Inc. $ 329,892 13.19 % $ 112,510 4.50 % N/A N/A Heartland Bank and Trust Company 368,339 14.74 112,414 4.50 $ 162,376 6.50 % Tier 1 Capital (to Average Assets) Consolidated HBT Financial, Inc. $ 366,392 9.85 % $ 148,768 4.00 % N/A N/A Heartland Bank and Trust Company 368,339 9.91 148,616 4.00 $ 185,770 5.00 % Actual For Capital To Be Well December 31, 2020 Amount Ratio Amount Ratio Amount Ratio (dollars in thousands) Total Capital (to Risk Weighted Assets) Consolidated HBT Financial, Inc. $ 426,283 17.40 % $ 195,970 8.00 % N/A N/A Heartland Bank and Trust Company 382,511 15.63 195,787 8.00 $ 244,733 10.00 % Tier 1 Capital (to Risk Weighted Assets) Consolidated HBT Financial, Inc. $ 356,410 14.55 % $ 146,977 6.00 % N/A N/A Heartland Bank and Trust Company 351,904 14.38 146,840 6.00 $ 195,787 8.00 % Common Equity Tier 1 Capital (to Risk Weighted Assets) Consolidated HBT Financial, Inc. $ 319,927 13.06 % $ 110,233 4.50 % N/A N/A Heartland Bank and Trust Company 351,904 14.38 110,130 4.50 $ 159,077 6.50 % Tier 1 Capital (to Average Assets) Consolidated HBT Financial, Inc. $ 356,410 9.94 % $ 143,454 4.00 % N/A N/A Heartland Bank and Trust Company 351,904 9.82 143,296 4.00 $ 179,120 5.00 %

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	3 Months Ended
FAIR VALUE OF FINANCIAL INSTRUMENTS	Mar. 31, 2021
FAIR VALUE OF FINANCIAL INSTRUMENTS
FAIR VALUE OF FINANCIAL INSTRUMENTS	NOTE 17 – FAIR VALUE OF FINANCIAL INSTRUMENTS Recurring Basis The Company uses fair value measurements to record fair value adjustments to certain assets and to determine fair value disclosures. Additional information on fair value measurements is summarized in Note 1 to the Company’s annual consolidated financial statements included in the Annual Report on Form 10-K filed with the SEC on March 12, 2021. There were no transfers between levels during the three months ended March 31, 2021 and 2020. The Company’s policy for determining transfers between levels occurs at the end of the reporting period when circumstances in the underlying valuation criteria change and result in transfer between levels. The following tables present the balances of the assets measured at fair value on a recurring basis: March 31, 2021 Level 1 Level 2 Level 3 Total (dollars in thousands) Debt securities available-for-sale: U.S. government agency $ — $ 127,938 $ — $ 127,938 Municipal — 282,333 — 282,333 Mortgage-backed: Agency residential — 169,104 — 169,104 Agency commercial — 207,997 — 207,997 Corporate — 69,463 — 69,463 Equity securities with readily determinable fair values 3,332 — — 3,332 Mortgage servicing rights — — 7,629 7,629 Derivative financial assets — 8,560 — 8,560 Derivative financial liabilities — 9,700 — 9,700 December 31, 2020 Level 1 Level 2 Level 3 Total (dollars in thousands) Debt securities available-for-sale: U.S. government agency $ — $ 121,993 $ — $ 121,993 Municipal — 274,261 — 274,261 Mortgage-backed: Agency residential — 203,252 — 203,252 Agency commercial — 250,766 — 250,766 Corporate — 72,597 — 72,597 Equity securities with readily determinable fair values 3,292 — — 3,292 Mortgage servicing rights — — 5,934 5,934 Derivative financial assets — 15,360 — 15,360 Derivative financial liabilities — 16,818 — 16,818 The following is a description of the valuation methodologies used for instruments measured at fair value on a recurring basis, as well as the general classification of such instruments pursuant to the valuation hierarchy. There were no changes to the valuation techniques from December 31, 2020 to March 31, 2021. Investment Securities When available, the Company uses quoted market prices to determine the fair value of securities; such items are classified in Level 1 of the fair value hierarchy. For the Company’s securities where quoted prices are not available for identical securities in an active market, the Company determines fair value utilizing vendors who apply matrix pricing for similar bonds where no price is observable or may compile prices from various sources. These models are primarily industry-standard models that consider various assumptions, including time value, yield curve, volatility factors, prepayment speeds, default rates, loss severity, current market and contractual prices for the underlying financial instruments, as well as other relevant economic measures. Substantially all of these assumptions are observable in the marketplace. Fair values from these models are verified, where possible, against quoted market prices for recent trading activity of assets with similar characteristics to the security being valued. Such methods are generally classified as Level 2. However, when prices from independent sources vary, cannot be obtained or cannot be corroborated, a security is generally classified as Level 3. The change in fair value of debt securities available-for-sale is recorded through an adjustment to the consolidated statement of comprehensive income. The change in fair value of equity securities with readily determinable fair values is recorded through an adjustment to the consolidated statement of income. Derivative Financial Instruments Interest rate swap agreements are carried at fair value as determined by dealer valuation models. Based on the inputs used, the derivative financial instruments subjected to recurring fair value adjustments are classified as Level 2. For derivative financial instruments designated as a hedging instruments, the change in fair value is recorded through an adjustment to the consolidated statement of comprehensive income. For derivative financial instruments not designated as a hedging instruments, the change in fair value is recorded through an adjustment to the consolidated statement of income. Mortgage Servicing Rights The Company has elected to record its mortgage servicing rights at fair value. Mortgage servicing rights do not trade in an active market with readily observable prices. Accordingly, the Company determines the fair value of mortgage servicing rights by estimating the fair value of the future cash flows associated with the mortgage loans being serviced as calculated by an independent third party. Key economic assumptions used in measuring the fair value of mortgage servicing rights include, but are not limited to, prepayment speeds and discount rates. Due to the nature of the valuation inputs, mortgage servicing rights are classified as Level 3. The change in fair value is recorded through an adjustment to the consolidated statement of income. The following tables present additional information about the unobservable inputs used in the fair value measurement of the mortgage servicing rights (dollars in thousands): March 31, 2021 Fair Value Valuation Technique Unobservable Inputs Range Mortgage servicing rights $ 7,629 Discounted cash flows Constant pre-payment rates (CPR) 7.0% to 85.0% (12.3%) Discount rate 8.8% to 11.0% (9.0%) December 31, 2020 Fair Value Valuation Technique Unobservable Inputs Range Mortgage servicing rights $ 5,934 Discounted cash flows Constant pre-payment rates (CPR) 7.0% to 85.0% (17.3%) Discount rate 9.0% to 11.0% (9.0%) Nonrecurring Basis Certain assets are measured at fair value on a nonrecurring basis. These assets are not measured at fair value on an ongoing basis; however, they are subject to fair value adjustments in certain circumstances, such as there is evidence of impairment or a change in the amount of previously recognized impairment. The following tables present the balances of the assets measured at fair value on a nonrecurring basis: March 31, 2021 Level 1 Level 2 Level 3 Total (dollars in thousands) Loans held for sale $ — $ 12,882 $ — $ 12,882 Collateral-dependent impaired loans — — 30,579 30,579 Bank premises held for sale — — 121 121 Foreclosed assets — — 4,748 4,748 December 31, 2020 Level 1 Level 2 Level 3 Total (dollars in thousands) Loans held for sale $ — $ 14,713 $ — $ 14,713 Collateral-dependent impaired loans — — 33,320 33,320 Bank premises held for sale — — 121 121 Foreclosed assets — — 4,168 4,168 Loans Held for Sale Mortgage loans originated and held for sale are carried at the lower of cost or estimated fair value. The Company obtains quotes or bids on these loans directly from purchasing financial institutions. Typically, these quotes include a premium on the sale and thus these quotes indicate fair value of the held for sale loans is greater than cost. Collateral-Dependent Impaired Loans In accordance with the provisions of the loan impairment guidance, impairment was measured for loans which it is probable that payment of interest and principal will not be made in accordance with the contractual terms of the loan agreement. The fair value of collateral-dependent impaired loans is estimated based on the fair value of the underlying collateral supporting the loan. Collateral-dependent impaired loans require classification in the fair value hierarchy. Impaired loans include loans acquired with deteriorated credit quality. Collateral values are estimated using Level 3 inputs based on customized discounting criteria. Bank Premises Held for Sale Bank premises held for sale are recorded at the lower of cost or fair value, less estimated selling costs, at the date classified as held for sale. Values are estimated using Level 3 inputs based on appraisals and customized discounting criteria. The carrying value of bank premises held for sale is not re-measured to fair value on a recurring basis but is subject to fair value adjustments when the carrying value exceeds the fair value, less estimated selling costs. Foreclosed Assets Foreclosed assets are recorded at fair value based on property appraisals, less estimated selling costs, at the date of the transfer. Subsequent to the transfer, foreclosed assets are carried at the lower of cost or fair value, less estimated selling costs. Values are estimated using Level 3 inputs based on appraisals and customized discounting criteria. The carrying value of foreclosed assets is not re-measured to fair value on a recurring basis but is subject to fair value adjustments when the carrying value exceeds the fair value, less estimated selling costs. Collateral-Dependent Impaired Loans, Bank Premises Held for Sale, and Foreclosed Assets The estimated fair value of collateral-dependent impaired loans, bank premises held for sale, and foreclosed assets is based on the appraised fair value of the collateral, less estimated costs to sell. Collateral-dependent impaired loans, bank premises held for sale, and foreclosed assets are classified within Level 3 of the fair value hierarchy. The Company considers the appraisal or a similar evaluation as the starting point for determining fair value and then considers other factors and events in the environment that may affect the fair value. Appraisals or a similar evaluation of the collateral underlying collateral-dependent loans and foreclosed assets are obtained at the time a loan is first considered impaired or a loan is transferred to foreclosed assets. Appraisals or a similar evaluation of bank premises held for sale are obtained when first classified as held for sale. Appraisals or similar evaluations are obtained subsequently as deemed necessary by management but at least annually on foreclosed assets and bank premises held for sale. Appraisals are reviewed for accuracy and consistency by management. Appraisals are performed by individuals selected from the list of approved appraisers maintained by management. The appraised values are reduced by estimated costs to sell. These discounts and estimates are developed by management by comparison to historical results. The following tables present quantitative information about unobservable inputs used in nonrecurring Level 3 fair value measurements (dollars in thousands): March 31, 2021 Fair Valuation Unobservable Inputs Range Collateral-dependent impaired loans $ 30,579 Appraisal of collateral Appraisal adjustments Not meaningful Bank premises held for sale 121 Appraisal Appraisal adjustments 7% (7%) Foreclosed assets 4,748 Appraisal Appraisal adjustments 7% (7%) December 31, 2020 Fair Valuation Unobservable Inputs Range Collateral-dependent impaired loans $ 33,320 Appraisal of collateral Appraisal adjustments Not meaningful Bank premises held for sale 121 Appraisal Appraisal adjustments 7% (7%) Foreclosed assets 4,168 Appraisal Appraisal adjustments 7% (7%) Other Fair Value Methods The following methods and assumptions were used by the Company in estimating fair value disclosures of its other financial instruments. There were no changes in the methods and significant assumptions used to estimate the fair value of these financial instruments. Cash and Cash Equivalents The carrying amounts of these financial instruments approximate their fair values. Interest-bearing Time Deposits with Banks The carrying values of interest-bearing time deposits with banks approximate their fair values. Restricted Stock The carrying amount of FHLB stock approximates fair value based on the redemption provisions of the FHLB. Loans The fair value estimation process for the loan portfolio uses an exit price concept and reflects discounts the Company believes are consistent with discounts in the market place. Fair values are estimated for portfolios of loans with similar characteristics. Loans are segregated by type such as commercial and industrial, agricultural and farmland, commercial real estate - owner occupied, commercial real estate - non-owner occupied, multi-family, construction and land development, one-to-four family residential, and municipal, consumer, and other. The fair value of loans is estimated by discounting the future cash flows using the current rates at which similar loans would be made to borrowers with similar credit ratings and for similar maturities. The fair value analysis also includes other assumptions to estimate fair value, intended to approximate those a market participant would use in an orderly transaction, with adjustments for discount rates, interest rates, liquidity, and credit spreads, as appropriate. Investments in Unconsolidated Subsidiaries The fair values of the Company’s investments in unconsolidated subsidiaries are presumed to approximate carrying amounts. Time Deposits Fair values of certificates of deposit with stated maturities have been estimated using the present value of estimated future cash flows discounted at rates currently offered for similar instruments. Time deposits also include public funds time deposits. Securities Sold Under Agreements to Repurchase The fair values of repurchase agreements with variable interest rates are presumed to approximate their recorded carrying amounts. Subordinated Notes The fair values of subordinated notes are estimated using discounted cash flow analyses based on rates observed on recent debt issuances by other financial institutions. Junior Subordinated Debentures The fair values of subordinated debentures are estimated using discounted cash flow analyses based on rates observed on recent debt issuances by other financial institutions. Accrued Interest The carrying amounts of accrued interest approximate fair value. Limitations Fair value estimates are made at a specific point in time, based on relevant market information and information about the financial instrument. Because no market exists for a significant portion of the Company’s financial instruments, fair value estimates are based on judgments regarding future expected loss experience, current economic conditions, risk characteristics of various financial instruments, and other factors. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and, therefore, cannot be determined with precision. Changes in assumptions could significantly affect the estimates. Fair values have been estimated using data which management considered the best available and estimation methodologies deemed suitable for the pertinent category of financial instrument. The following table provides summary information on the carrying amounts and estimated fair values of the Company’s financial instruments: Fair Value March 31, 2021 December 31, 2020 Hierarchy Carrying Estimated Carrying Estimated Level Amount Fair Value Amount Fair Value (dollars in thousands) Financial assets: Cash and cash equivalents Level 1 $ 429,736 $ 429,736 $ 312,451 $ 312,451 Debt securities held-to-maturity Level 2 192,994 195,608 68,395 72,441 Restricted stock Level 3 2,498 2,498 2,498 2,498 Loans, net Level 3 2,241,946 2,264,145 2,215,168 2,235,767 Investments in unconsolidated subsidiaries Level 3 1,165 1,165 1,165 1,165 Accrued interest receivable Level 2 12,718 12,718 14,255 14,255 Financial liabilities: Time deposits Level 3 285,461 286,430 299,474 300,989 Securities sold under agreements to repurchase Level 2 41,976 41,976 45,736 45,736 Subordinated notes Level 3 39,257 38,162 39,238 38,403 Junior subordinated debentures Level 3 37,665 23,528 37,648 23,766 Accrued interest payable Level 2 551 551 1,151 1,151 The Company estimated the fair value of lending related commitments as described in Note 18 to be immaterial based on limited interest rate exposure due to their variable nature, short-term commitment periods and termination clauses provided in the agreements.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
COMMITMENTS AND CONTINGENCIES	Mar. 31, 2021
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES	NOTE 18 – COMMITMENTS AND CONTINGENCIES Financial Instruments The Bank is party to credit-related financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit and standby letters of credit. Such instruments involve, to varying degrees, elements of credit and interest rate risk in excess of the amount recognized in the consolidated balance sheets. The Bank’s exposure to credit loss in the event of nonperformance by the other party to the financial instrument for commitments to extend credit and standby letters of credit is represented by the contractual amount of those instruments. The Bank uses the same credit policies in making commitments and conditional obligations as it does for on-balance sheet instruments. Such commitments and conditional obligations were as follows: Contractual Amount March 31, December 31, 2021 2020 (dollars in thousands) Commitments to extend credit $ 523,646 $ 530,191 Standby letters of credit 10,235 10,031 Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Since many of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. The Bank evaluates each customer’s credit worthiness on a case-by-case basis. The amount of collateral obtained, if deemed necessary, by the Bank upon extension of credit is based on management’s credit evaluation of the customer. Collateral held varies, but may include real estate, accounts receivable, inventory, property, plant, and equipment, and income-producing properties. Standby letters of credit are conditional commitments issued by the Bank to guarantee the performance of a customer to a third party. Those standby letters of credit are primarily issued to support extensions of credit. The credit risk involved in issuing standby letters of credit is essentially the same as that involved in extending loans to customers. The Bank secures the standby letters of credit with the same collateral used to secure the related loan. Legal Contingencies Various legal claims arise from time to time in the normal course of business which, in the opinion of management, will have no material effect on the Company’s consolidated financial statements.

ACCOUNTING POLICIES (Policies)

ACCOUNTING POLICIES (Policies)	3 Months Ended
ACCOUNTING POLICIES (Policies)	Mar. 31, 2021
ACCOUNTING POLICIES
Basis of Presentation	Basis of Presentation HBT Financial, Inc. (the Company) is headquartered in Bloomington, Illinois and is the holding company for Heartland Bank and Trust Company (the Bank or Heartland Bank). The Bank provides a comprehensive suite of business, commercial, wealth management and retail banking products and services to individuals, businesses, and municipal entities throughout Central and Northeastern Illinois. The unaudited consolidated financial statements, including the notes thereto, have been prepared in accordance with generally accepted accounting principles (GAAP) interim reporting requirements. Certain information in footnote disclosures normally included in financial statements prepared in accordance with GAAP has been condensed or omitted pursuant to rules and regulations of the Securities and Exchange Commission. These interim unaudited consolidated financial statements and notes thereto should be read in conjunction with the Company’s audited consolidated financial statements and accompanying notes included in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (SEC) on March 12, 2021. The unaudited consolidated financial statements include all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of the results for the interim periods. The results for interim periods are not necessarily indicative of results for a full year. The Company qualifies as an "emerging growth company" as defined by the Jumpstart Our Business Startups Act (JOBS Act). The JOBS Act permits emerging growth companies an extended transition period for complying with new or revised accounting standards affecting public companies. The Company has elected to use the extended transition period until the Company is no longer an emerging growth company or until the Company chooses to affirmatively and irrevocably opt out of the extended transition period. As a result, the Company’s financial statements may not be comparable to companies that comply with new or revised accounting pronouncements applicable to public companies.
Merger of State Bank of Lincoln into Heartland Bank	Merger of State Bank of Lincoln into Heartland Bank On October 20, 2020, Heartland Bank and State Bank of Lincoln, both wholly-owned bank subsidiaries of the Company on that date, entered into a Bank Merger Agreement providing for the merger of State Bank of Lincoln into Heartland Bank. The merger was consummated on December 31, 2020, resulting in Heartland Bank being our sole bank subsidiary, with the branch locations in Lincoln, Illinois operating as “State Bank of Lincoln, a division of Heartland Bank and Trust Company.”
Use of Estimates	Use of Estimates The accompanying consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America. In preparing the financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the balance sheet and the reported results of operations for the periods then ended. Actual results could differ significantly from those estimates. Material estimates that are particularly susceptible to significant changes in the near term relate to the determination of the allowance for loan losses, goodwill, and income taxes.
Segment Reporting	Segment Reporting The Company’s operations consist of one reportable segment called community banking.
Reclassifications	Reclassifications Certain prior period amounts have been reclassified to conform to the current period presentation without any impact on the reported amounts of net income or stockholders’ equity.
Subsequent Events	Subsequent Events In preparing these consolidated financial statements, the Company has evaluated events and transactions for potential recognition or disclosure through the date the financial statements were issued.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In June 2016, the Financial Accounting Standards Board (FASB) issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments In January 2017, the FASB issued ASU 2017-04, Intangibles – Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting Reference Rate Reform (Topic 848): Scope

SECURITIES (Tables)

SECURITIES (Tables)	3 Months Ended
SECURITIES (Tables)	Mar. 31, 2021
SECURITIES
Summary of carrying balances of securities	March 31, December 31, 2021 2020 (dollars in thousands) Debt securities available-for-sale $ 856,835 $ 922,869 Debt securities held-to-maturity 192,994 68,395 Equity securities with readily determinable fair value 3,332 3,292 Equity securities with no readily determinable fair value 1,552 1,552 Total securities $ 1,054,713 $ 996,108
Schedule of gains (losses) on securities	Three Months Ended March 31, 2021 2020 (dollars in thousands) Net realized gains (losses) on sales $ — $ — Net unrealized gains (losses) on equity securities: Readily determinable fair value 40 (52) No readily determinable fair value — — Gains (losses) on securities $ 40 $ (52)
Schedule of certain debt securities from the available-for-sale category to the held-to-maturity category	Amortized Cost Fair Value (dollars in thousands) U.S. government agency $ 7,593 $ 7,323 Mortgage-backed: Agency residential 8,776 8,536 Agency commercial 118,792 113,861 Total $ 135,161 $ 129,720
Schedule of amortized cost and fair values of securities available-for-sale, with gross unrealized gains and losses	March 31, 2021 Amortized Gross Gross Fair Value Available-for-sale: (dollars in thousands) U.S. government agency $ 129,494 $ 1,785 $ (3,341) $ 127,938 Municipal 280,212 6,479 (4,358) 282,333 Mortgage-backed: Agency residential 164,942 4,366 (204) 169,104 Agency commercial 208,692 2,861 (3,556) 207,997 Corporate 67,959 1,950 (446) 69,463 Total available-for-sale 851,299 17,441 (11,905) 856,835 Held-to-maturity: U.S. government agency 7,323 — — 7,323 Municipal 21,067 1,188 — 22,255 Mortgage-backed: Agency residential 20,335 388 — 20,723 Agency commercial 144,269 1,323 (285) 145,307 Total held-to-maturity 192,994 2,899 (285) 195,608 Total debt securities $ 1,044,293 $ 20,340 $ (12,190) $ 1,052,443 December 31, 2020 Amortized Gross Gross Fair Value Available-for-sale: (dollars in thousands) U.S. government agency $ 118,282 $ 3,720 $ (9) $ 121,993 Municipal 265,309 9,232 (280) 274,261 Mortgage-backed: Agency residential 198,543 4,871 (162) 203,252 Agency commercial 246,649 4,651 (534) 250,766 Corporate 70,917 1,786 (106) 72,597 Total available-for-sale 899,700 24,260 (1,091) 922,869 Held-to-maturity: Municipal 22,484 1,390 — 23,874 Mortgage-backed: Agency residential 13,031 452 — 13,483 Agency commercial 32,880 2,222 (18) 35,084 Total held-to-maturity 68,395 4,064 (18) 72,441 Total debt securities $ 968,095 $ 28,324 $ (1,109) $ 995,310
Schedule of amortized cost and fair value of securities by contractual maturity	Available-for-Sale Held-to-Maturity Amortized Fair Value Amortized Fair Value (dollars in thousands) Due in 1 year or less $ 31,406 $ 31,734 $ 2,772 $ 2,817 Due after 1 year through 5 years 76,138 78,807 12,000 12,770 Due after 5 years through 10 years 242,096 242,487 13,227 13,580 Due after 10 years 128,025 126,706 391 411 Mortgage-backed: Agency residential 164,942 169,104 20,335 20,723 Agency commercial 208,692 207,997 144,269 145,307 Total $ 851,299 $ 856,835 $ 192,994 $ 195,608
Schedule of gross unrealized losses and fair value of investments	Investments in a Continuous Unrealized Loss Position Less than 12 Months 12 Months or More Total March 31, 2021 Unrealized Fair Value Unrealized Fair Value Unrealized Fair Value Available-for-sale: (dollars in thousands) U.S. government agency $ (3,341) $ 80,395 $ — $ — $ (3,341) $ 80,395 Municipal (4,358) 119,502 — — (4,358) 119,502 Mortgage-backed: Agency residential (165) 26,810 (39) 3,594 (204) 30,404 Agency commercial (3,556) 119,719 — — (3,556) 119,719 Corporate (446) 7,009 — — (446) 7,009 Total available-for-sale (11,866) 353,435 (39) 3,594 (11,905) 357,029 Held-to-maturity: Mortgage-backed: Agency commercial (285) 7,669 — — (285) 7,669 Total held-to-maturity (285) 7,669 — — (285) 7,669 Total debt securities $ (12,151) $ 361,104 $ (39) $ 3,594 $ (12,190) $ 364,698 Investments in a Continuous Unrealized Loss Position Less than 12 Months 12 Months or More Total December 31, 2020 Unrealized Fair Value Unrealized Fair Value Unrealized Fair Value Available-for-sale: (dollars in thousands) U.S. government agency $ (9) $ 5,919 $ — $ — $ (9) $ 5,919 Municipal (280) 19,652 — — (280) 19,652 Mortgage-backed: Agency residential (142) 20,387 (20) 4,490 (162) 24,877 Agency commercial (524) 57,126 (10) 3,449 (534) 60,575 Corporate (106) 4,849 — — (106) 4,849 Total available-for-sale (1,061) 107,933 (30) 7,939 (1,091) 115,872 Held-to-maturity: Mortgage-backed: Agency commercial (18) 2,983 — — (18) 2,983 Total held-to-maturity (18) 2,983 — — (18) 2,983 Total debt securities $ (1,079) $ 110,916 $ (30) $ 7,939 $ (1,109) $ 118,855
Schedule of equity securities with initial cost and carrying values of equity securities, with cumulative net unrealized gains and losses	Readily No Readily Determinable Determinable March 31, 2021 Fair Value Fair Value (dollars in thousands) Initial cost $ 3,098 $ 1,717 Cumulative net unrealized gains (losses) 234 (165) Carrying value $ 3,332 $ 1,552 Readily No Readily Determinable Determinable December 31, 2020 Fair Value Fair Value (dollars in thousands) Initial cost $ 3,098 $ 1,717 Cumulative net unrealized gains (losses) 194 (165) Carrying value $ 3,292 $ 1,552

LOANS AND THE ALLOWANCE FOR L_2

LOANS AND THE ALLOWANCE FOR LOAN LOSSES (Tables)	3 Months Ended
LOANS AND THE ALLOWANCE FOR LOAN LOSSES (Tables)	Mar. 31, 2021
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Summary of Loans	March 31, December 31, 2021 2020 (dollars in thousands) Commercial and industrial $ 412,812 $ 393,312 Agricultural and farmland 228,032 222,723 Commercial real estate - owner occupied 224,599 222,360 Commercial real estate - non-owner occupied 516,963 520,395 Multi-family 236,381 236,391 Construction and land development 215,375 225,652 One-to-four family residential 300,768 306,775 Municipal, consumer, and other 135,775 119,398 Loans, before allowance for loan losses 2,270,705 2,247,006 Allowance for loan losses (28,759) (31,838) Loans, net of allowance for loan losses $ 2,241,946 $ 2,215,168 Paycheck Protection Program (PPP) loans (included above) Commercial and industrial $ 175,389 $ 153,860 Agricultural and farmland 8,921 3,049 Municipal, consumer, and other 6,249 6,587 Total PPP loans $ 190,559 $ 163,496
Schedule of activity in allowance for loan losses	Commercial Commercial Municipal, Commercial Agricultural Real Estate Real Estate Construction One-to-four Consumer, and and Owner Non-owner and Land Family and Three Months Ended March 31, 2021 Industrial Farmland Occupied Occupied Multi-Family Development Residential Other Total Allowance for loan losses: (dollars in thousands) Balance, December 31, 2020 $ 3,929 $ 793 $ 3,141 $ 11,251 $ 1,957 $ 4,232 $ 1,801 $ 4,734 $ 31,838 Provision for loan losses (1,802) 72 (426) 72 133 (316) (198) (940) (3,405) Charge-offs — — — — — — (72) (123) (195) Recoveries 293 — — 7 — 90 42 89 521 Balance, March 31, 2021 $ 2,420 $ 865 $ 2,715 $ 11,330 $ 2,090 $ 4,006 $ 1,573 $ 3,760 $ 28,759 Commercial Commercial Municipal, Commercial Agricultural Real Estate Real Estate Consumer and and Owner Non-owner Construction Residential and Three Months Ended March 31, 2020 Industrial Farmland Occupied Occupied Multi-Family and Land Real Estate Other Total Allowance for loan losses: (dollars in thousands) Balance, December 31, 2019 $ 4,441 $ 2,766 $ 1,779 $ 3,663 $ 1,024 $ 2,977 $ 2,540 $ 3,109 $ 22,299 Provision for loan losses 538 254 (97) 820 450 237 777 1,376 4,355 Charge-offs (809) (27) — (56) — (1) (104) (224) (1,221) Recoveries 54 — 440 5 — 10 71 74 654 Balance, March 31, 2020 $ 4,224 $ 2,993 $ 2,122 $ 4,432 $ 1,474 $ 3,223 $ 3,284 $ 4,335 $ 26,087 Commercial Commercial Municipal, Commercial Agricultural Real Estate Real Estate Construction One-to-four Consumer, and and Owner Non-owner and Land Family and March 31, 2021 Industrial Farmland Occupied Occupied Multi-Family Development Residential Other Total Loan balances: (dollars in thousands) Collectively evaluated for impairment $ 408,664 $ 226,668 $ 204,327 $ 477,116 $ 234,257 $ 208,835 $ 283,562 $ 122,266 $ 2,165,695 Individually evaluated for impairment 3,230 548 12,680 25,871 874 4,165 9,443 13,455 70,266 Acquired with deteriorated credit quality 918 816 7,592 13,976 1,250 2,375 7,763 54 34,744 Total $ 412,812 $ 228,032 $ 224,599 $ 516,963 $ 236,381 $ 215,375 $ 300,768 $ 135,775 $ 2,270,705 Allowance for loan losses: Collectively evaluated for impairment $ 1,218 $ 845 $ 2,032 $ 6,947 $ 2,080 $ 3,846 $ 1,091 $ 1,328 $ 19,387 Individually evaluated for impairment 1,095 19 420 4,142 — 144 479 2,431 8,730 Acquired with deteriorated credit quality 107 1 263 241 10 16 3 1 642 Total $ 2,420 $ 865 $ 2,715 $ 11,330 $ 2,090 $ 4,006 $ 1,573 $ 3,760 $ 28,759 Commercial Commercial Municipal, Commercial Agricultural Real Estate Real Estate Construction One-to-four Consumer, and and Owner Non-owner and Land Family and December 31, 2020 Industrial Farmland Occupied Occupied Multi-Family Development Residential Other Total Loan balances: (dollars in thousands) Collectively evaluated for impairment $ 387,072 $ 217,077 $ 201,417 $ 480,165 $ 234,252 $ 219,822 $ 287,845 $ 105,796 $ 2,133,446 Individually evaluated for impairment 5,312 4,793 13,132 25,993 876 3,809 10,343 13,546 77,804 Acquired with deteriorated credit quality 928 853 7,811 14,237 1,263 2,021 8,587 56 35,756 Total $ 393,312 $ 222,723 $ 222,360 $ 520,395 $ 236,391 $ 225,652 $ 306,775 $ 119,398 $ 2,247,006 Allowance for loan losses: Collectively evaluated for impairment $ 2,736 $ 771 $ 2,306 $ 6,736 $ 1,950 $ 3,984 $ 1,237 $ 1,432 $ 21,152 Individually evaluated for impairment 1,193 22 429 4,255 — 222 560 3,301 9,982 Acquired with deteriorated credit quality — — 406 260 7 26 4 1 704 Total $ 3,929 $ 793 $ 3,141 $ 11,251 $ 1,957 $ 4,232 $ 1,801 $ 4,734 $ 31,838
Schedule of loans individually evaluated for impairment by category	The following tables present loans individually evaluated for impairment by category of loans: Unpaid Principal Recorded Related March 31, 2021 Balance Investment Allowance With an allowance recorded: (dollars in thousands) Commercial and industrial $ 2,252 $ 2,240 $ 1,095 Agricultural and farmland 166 165 19 Commercial real estate - owner occupied 3,156 3,121 420 Commercial real estate - non-owner occupied 20,605 20,256 4,142 Multi-family — — — Construction and land development 2,229 2,196 144 One-to-four family residential 2,835 2,587 479 Municipal, consumer, and other 8,770 8,744 2,431 Total $ 40,013 $ 39,309 $ 8,730 With no related allowance: Commercial and industrial $ 1,738 $ 990 $ — Agricultural and farmland 383 383 — Commercial real estate - owner occupied 9,635 9,559 — Commercial real estate - non-owner occupied 5,747 5,615 — Multi-family 874 874 — Construction and land development 1,978 1,969 — One-to-four family residential 8,556 6,856 — Municipal, consumer, and other 4,774 4,711 — Total $ 33,685 $ 30,957 $ — Total loans individually evaluated for impairment: Commercial and industrial $ 3,990 $ 3,230 $ 1,095 Agricultural and farmland 549 548 19 Commercial real estate - owner occupied 12,791 12,680 420 Commercial real estate - non-owner occupied 26,352 25,871 4,142 Multi-family 874 874 — Construction and land development 4,207 4,165 144 One-to-four family residential 11,391 9,443 479 Municipal, consumer, and other 13,544 13,455 2,431 Total $ 73,698 $ 70,266 $ 8,730 Unpaid Principal Recorded Related December 31, 2020 Balance Investment Allowance With an allowance recorded: (dollars in thousands) Commercial and industrial $ 2,737 $ 2,725 $ 1,193 Agricultural and farmland 169 168 22 Commercial real estate - owner occupied 3,072 3,040 429 Commercial real estate - non-owner occupied 20,726 20,394 4,255 Multi-family — — — Construction and land development 2,081 2,055 222 One-to-four family residential 2,963 2,739 560 Municipal, consumer, and other 12,207 12,181 3,301 Total $ 43,955 $ 43,302 $ 9,982 With no related allowance: Commercial and industrial $ 3,322 $ 2,587 $ — Agricultural and farmland 4,625 4,625 — Commercial real estate - owner occupied 10,164 10,092 — Commercial real estate - non-owner occupied 5,727 5,599 — Multi-family 876 876 — Construction and land development 1,762 1,754 — One-to-four family residential 9,325 7,604 — Municipal, consumer, and other 1,431 1,365 — Total $ 37,232 $ 34,502 $ — Total loans individually evaluated for impairment: Commercial and industrial $ 6,059 $ 5,312 $ 1,193 Agricultural and farmland 4,794 4,793 22 Commercial real estate - owner occupied 13,236 13,132 429 Commercial real estate - non-owner occupied 26,453 25,993 4,255 Multi-family 876 876 — Construction and land development 3,843 3,809 222 One-to-four family residential 12,288 10,343 560 Municipal, consumer, and other 13,638 13,546 3,301 Total $ 81,187 $ 77,804 $ 9,982 The following table presents the average recorded investment and interest income recognized for loans individually evaluated for impairment by category of loans during the three months ended March 31: Three Months Ended March 31, 2021 2020 Average Interest Average Interest Recorded Income Recorded Income Investment Recognized Investment Recognized With an allowance recorded: (dollars in thousands) Commercial and industrial $ 2,266 $ 31 $ 3,486 $ 49 Agricultural and farmland 168 2 573 4 Commercial real estate - owner occupied 3,244 41 828 11 Commercial real estate - non-owner occupied 20,361 208 99 2 Multi-family — — — — Construction and land development 2,248 27 3,064 41 One-to-four family residential 2,644 23 3,261 27 Municipal, consumer, and other 8,802 40 12,487 83 Total $ 39,733 $ 372 $ 23,798 $ 217 With no related allowance: Commercial and industrial $ 1,068 $ 14 $ 5,941 $ 58 Agricultural and farmland 383 6 12,520 161 Commercial real estate - owner occupied 9,600 122 10,432 131 Commercial real estate - non-owner occupied 5,665 68 3,340 41 Multi-family 876 10 — — Construction and land development 1,764 26 324 4 One-to-four family residential 6,981 49 8,344 62 Municipal, consumer, and other 4,746 22 1,370 56 Total $ 31,083 $ 317 $ 42,271 $ 513 Total loans individually evaluated for impairment: Commercial and industrial $ 3,334 $ 45 $ 9,427 $ 107 Agricultural and farmland 551 8 13,093 165 Commercial real estate - owner occupied 12,844 163 11,260 142 Commercial real estate - non-owner occupied 26,026 276 3,439 43 Multi-family 876 10 — — Construction and land development 4,012 53 3,388 45 One-to-four family residential 9,625 72 11,605 89 Municipal, consumer, and other 13,548 62 13,857 139 Total $ 70,816 $ 689 $ 66,069 $ 730
Schedule of recorded investment on past due basis	Accruing Interest 30 - 89 Days 90+ Days Total March 31, 2021 Current Past Due Past Due Nonaccrual Loans (dollars in thousands) Commercial and industrial $ 412,005 $ — $ — $ 807 $ 412,812 Agricultural and farmland 228,032 — — — 228,032 Commercial real estate - owner occupied 224,026 — — 573 224,599 Commercial real estate - non-owner occupied 512,889 92 — 3,982 516,963 Multi-family 236,381 — — — 236,381 Construction and land development 215,221 15 — 139 215,375 One-to-four family residential 296,530 706 29 3,503 300,768 Municipal, consumer, and other 135,550 113 10 102 135,775 Total $ 2,260,634 $ 926 $ 39 $ 9,106 $ 2,270,705 Accruing Interest 30 - 89 Days 90+ Days Total December 31, 2020 Current Past Due Past Due Nonaccrual Loans (dollars in thousands) Commercial and industrial $ 392,490 $ — $ — $ 822 $ 393,312 Agricultural and farmland 222,723 — — — 222,723 Commercial real estate - owner occupied 221,308 112 — 940 222,360 Commercial real estate - non-owner occupied 516,387 — — 4,008 520,395 Multi-family 236,391 — — — 236,391 Construction and land development 225,508 — — 144 225,652 One-to-four family residential 301,282 984 595 3,914 306,775 Municipal, consumer, and other 119,055 211 21 111 119,398 Total $ 2,235,144 $ 1,307 $ 616 $ 9,939 $ 2,247,006
Schedule of loans by category risk ratings	March 31, 2021 Pass Pass-Watch Substandard Doubtful Total (dollars in thousands) Commercial and industrial $ 392,957 $ 15,734 $ 4,121 $ — $ 412,812 Agricultural and farmland 196,773 29,994 1,265 — 228,032 Commercial real estate - owner occupied 180,381 31,165 13,053 — 224,599 Commercial real estate - non-owner occupied 429,273 58,874 28,816 — 516,963 Multi-family 208,800 26,707 874 — 236,381 Construction and land development 182,730 28,480 4,165 — 215,375 One-to-four family residential 276,413 13,839 10,516 — 300,768 Municipal, consumer, and other 121,991 330 13,454 — 135,775 Total $ 1,989,318 $ 205,123 $ 76,264 $ — $ 2,270,705 December 31, 2020 Pass Pass-Watch Substandard Doubtful Total (dollars in thousands) Commercial and industrial $ 368,843 $ 18,258 $ 6,211 $ — $ 393,312 Agricultural and farmland 191,662 25,540 5,521 — 222,723 Commercial real estate - owner occupied 176,823 31,990 13,547 — 222,360 Commercial real estate - non-owner occupied 432,752 58,699 28,944 — 520,395 Multi-family 204,449 31,066 876 — 236,391 Construction and land development 193,646 28,193 3,813 — 225,652 One-to-four family residential 280,198 14,526 12,051 — 306,775 Municipal, consumer, and other 105,539 312 13,547 — 119,398 Total $ 1,953,912 $ 208,584 $ 84,510 $ — $ 2,247,006
Schedule of changes in the accretable yield for loans acquired with deteriorated credit quality	Three Months Ended March 31, 2021 2020 (dollars in thousands) Beginning balance $ 1,397 $ 1,662 Reclassification from non-accretable difference 74 8 Accretion income (133) (160) Ending balance $ 1,338 $ 1,510

LOAN SERVICING (Tables)

LOAN SERVICING (Tables)	3 Months Ended
LOAN SERVICING (Tables)	Mar. 31, 2021
LOAN SERVICING
Schedule of activity in mortgage servicing rights	Three Months Ended March 31, 2021 2020 (dollars in thousands) Beginning balance $ 5,934 $ 8,518 Capitalized servicing rights 397 214 Fair value adjustment: Attributable to payments and principal reductions (467) (403) Attributable to changes in valuation inputs and assumptions 1,765 (1,982) Total fair value adjustment 1,298 (2,385) Ending balance $ 7,629 $ 6,347

FORECLOSED ASSETS (Tables)

FORECLOSED ASSETS (Tables)	3 Months Ended
FORECLOSED ASSETS (Tables)	Mar. 31, 2021
FORECLOSED ASSETS
Schedule of foreclosed assets activity	Three Months Ended March 31, 2021 2020 (dollars in thousands) Beginning balance $ 4,168 $ 5,099 Transfers from loans 671 19 Proceeds from sales (15) (677) Net gain (loss) on sales (3) 75 Direct write-downs (73) (47) Ending balance $ 4,748 $ 4,469
Schedule of gains (losses) on foreclosed assets	Three Months Ended March 31, 2021 2020 (dollars in thousands) Direct write-downs $ (73) $ (47) Net gain (loss) on sales (3) 75 Guarantee reimbursements — 7 Gains (losses) on foreclosed assets $ (76) $ 35

DEPOSITS (Tables)

DEPOSITS (Tables)	3 Months Ended
DEPOSITS (Tables)	Mar. 31, 2021
DEPOSITS
Schedule of Company's interest-bearing deposits	March 31, 2021 December 31, 2020 (dollars in thousands) Noninterest-bearing deposits $ 968,991 $ 882,939 Interest-bearing deposits: Interest-bearing demand 1,008,954 968,592 Money market 499,088 462,056 Savings 593,472 517,473 Time 285,461 299,474 Total interest-bearing deposits 2,386,975 2,247,595 Total deposits $ 3,355,966 $ 3,130,534
Schedule of interest expense on deposits	Three Months Ended March 31, 2021 2020 (dollars in thousands) Interest-bearing demand $ 117 $ 251 Money market 89 394 Savings 41 70 Time 397 880 Total interest expense on deposits $ 644 $ 1,595

SUBORDINATED NOTES (Tables)

SUBORDINATED NOTES (Tables)	3 Months Ended
SUBORDINATED NOTES (Tables)	Mar. 31, 2021
Subordinated Notes
JUNIOR SUBORDINATED DEBENTURES ISSUED TO CAPITAL TRUSTS
Schedule of carrying value of subordinated debentures	March 31, 2021 December 31, 2020 (dollars in thousands) Subordinated notes, at face value $ 40,000 $ 40,000 Unamortized issuance costs (743) (762) Subordinated notes, at carrying value $ 39,257 $ 39,238

JUNIOR SUBORDINATED DEBENTURE_2

JUNIOR SUBORDINATED DEBENTURES ISSUED TO CAPITAL TRUSTS (Tables) - Junior Subordinated Debentures Issued	3 Months Ended
	Mar. 31, 2021
JUNIOR SUBORDINATED DEBENTURES ISSUED TO CAPITAL TRUSTS
Schedule of carrying value of subordinated debentures	March 31, 2021 December 31, 2020 (dollars in thousands) Heartland Bancorp, Inc. Capital Trust B $ 10,310 $ 10,310 Heartland Bancorp, Inc. Capital Trust C 10,310 10,310 Heartland Bancorp, Inc. Capital Trust D 5,155 5,155 FFBI Capital Trust I 7,217 7,217 National Bancorp Statutory Trust I 5,773 5,773 Total junior subordinated debentures, at face value 38,765 38,765 National Bancorp Statutory Trust I unamortized discount (1,100) (1,117) Total junior subordinated debentures, at carrying value $ 37,665 $ 37,648
Schedule of interest rates and maturities of the junior subordinated debentures	Interest Rate at Variable March 31, December 31, Maturity Interest Rate 2021 2020 Date Heartland Bancorp, Inc. Capital Trust B LIBOR plus 2.75 % 2.99 % 2.99 % April 6, 2034 Heartland Bancorp, Inc. Capital Trust C LIBOR plus 1.53 1.71 1.75 June 15, 2037 Heartland Bancorp, Inc. Capital Trust D LIBOR plus 1.35 1.53 1.57 September 15, 2037 FFBI Capital Trust I LIBOR plus 2.80 3.04 3.04 April 6, 2034 National Bancorp Statutory Trust I LIBOR plus 2.90 3.08 3.12 December 31, 2037

DERIVATIVE FINANCIAL INSTRUME_2

DERIVATIVE FINANCIAL INSTRUMENTS (Tables)	3 Months Ended
DERIVATIVE FINANCIAL INSTRUMENTS (Tables)	Mar. 31, 2021
DERIVATIVE FINANCIAL INSTRUMENTS
Summary of fair values of Company's derivative instrument assets and liabilities related to interest rate swap contracts	March 31, 2021 December 31, 2020 Notional Fair Notional Fair Amount Value Amount Value (dollars in thousands) Fair value recorded in other liabilities $ 17,000 $ (1,140) $ 17,000 $ (1,458)
Schedule of the effect of interest rate contracts designated as cash flow hedges on the consolidated statements of income	Location of gross gain (loss) reclassified Amounts of gross gain (loss) from accumulated other reclassified from accumulated comprehensive income to income other comprehensive income Three Months Ended March 31, 2021 2020 Designated as cash flow hedges: (dollars in thousands) Taxable loan interest income $ — $ 32 Junior subordinated debentures interest expense (99) (34) Total $ (99) $ (2)
Summary of interest rate swap agreements not designated as hedging instruments	March 31, 2021 December 31, 2020 Notional Fair Notional Fair Amount Value Amount Value (dollars in thousands) Fair value recorded in other assets: Interest rate swaps with a commercial borrower counterparty $ 115,378 $ 8,496 $ 122,313 $ 15,360 Interest rate swaps with a financial institution counterparty 3,992 64 — — Total fair value recorded in other assets $ 119,370 $ 8,560 $ 122,313 $ 15,360 Fair value recorded in other liabilities: Interest rate swaps with a commercial borrower counterparty $ 3,992 $ (64) $ — $ — Interest rate swaps with a financial institution counterparty 115,378 (8,496) 122,313 (15,360) Total fair value recorded in other liabilities $ 119,370 $ (8,560) $ 122,313 $ (15,360)
Summary of the effect of interest rate contracts not designated as hedging instruments recognized in other noninterest income	Three Months Ended March 31, 2021 2020 Not designated as hedging instruments: (dollars in thousands) Gross gains $ 7,564 $ 13,571 Gross losses (7,564) (13,571) Net gains (losses) $ — $ —

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE INCOME (Tables)	3 Months Ended
ACCUMULATED OTHER COMPREHENSIVE INCOME (Tables)	Mar. 31, 2021
ACCUMULATED OTHER COMPREHENSIVE INCOME
Schedule of the activity and accumulated balances for components of other comprehensive income (loss)	Unrealized Gains (Losses) on Debt Securities Available-for-Sale Held-to-Maturity Derivatives Total (dollars in thousands) Three Months Ended March 31, 2021 Balance, December 31, 2020 $ 19,578 $ (118) $ (1,307) $ 18,153 Transfer from available-for-sale to held-to-maturity 3,890 (3,890) — — Other comprehensive income (loss) before reclassifications (23,074) — 219 (22,855) Reclassifications — 32 99 131 Other comprehensive income (loss), before tax (23,074) 32 318 (22,724) Income tax expense (benefit) (6,577) 9 91 (6,477) Other comprehensive income (loss), after tax (16,497) 23 227 (16,247) Balance, March 31, 2021 $ 6,971 $ (3,985) $ (1,080) $ 1,906 Three Months Ended March 31, 2020 Balance, December 31, 2019 $ 8,659 $ (131) $ (696) $ 7,832 Other comprehensive income (loss) before reclassifications 7,602 — (970) 6,632 Reclassifications — (9) 2 (7) Other comprehensive income (loss), before tax 7,602 (9) (968) 6,625 Income tax expense (benefit) 2,166 (2) (276) 1,888 Other comprehensive income (loss), after tax 5,436 (7) (692) 4,737 Balance, March 31, 2020 $ 14,095 $ (138) $ (1,388) $ 12,569

INCOME TAXES (Tables)

INCOME TAXES (Tables)	3 Months Ended
INCOME TAXES (Tables)	Mar. 31, 2021
INCOME TAXES
Schedule of allocation of federal and state income taxes between current and deferred portions	Three Months Ended March 31, 2021 2020 (dollars in thousands) Current Federal $ 3,170 $ 1,721 State 1,698 988 Total current 4,868 2,709 Deferred Federal 457 (457) State 228 (221) Total deferred 685 (678) Income tax expense $ 5,553 $ 2,031
Schedule of effective income tax rate reconciliation	Three Months Ended March 31, 2021 2020 Amount Percentage Amount Percentage (dollars in thousands) Federal income tax, at statutory rate $ 4,368 21.0 % $ 1,733 21.0 % Increase (decrease) resulting from: Federally tax exempt interest income (367) (1.8) (357) (4.3) State taxes, net of federal benefit 1,514 7.3 631 7.6 Other 38 0.2 24 0.3 Income tax expense $ 5,553 26.7 % $ 2,031 24.6 %
Schedule of components of the net deferred tax asset (liability)	March 31, December 31, 2021 2020 (dollars in thousands) Deferred tax assets Allowance for loan losses $ 8,170 $ 9,046 Compensation related 1,802 2,301 Deferred loan fees 2,470 1,595 Nonaccrual interest 646 660 Foreclosed assets 59 45 Goodwill 287 336 Other 1,049 1,011 Total deferred tax assets 14,483 14,994 Deferred tax liabilities Fixed asset depreciation 4,368 4,361 Mortgage servicing rights 2,175 1,692 Other purchase accounting adjustments 1,080 1,115 Intangible assets 521 580 Prepaid assets 557 685 Net unrealized gain on debt securities 1 6,569 Other 367 370 Total deferred tax liabilities 9,069 15,372 Net deferred tax asset (liability) $ 5,414 $ (378)

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	3 Months Ended
EARNINGS PER SHARE (Tables)	Mar. 31, 2021
EARNINGS PER SHARE
Schedule of reconciliations of the numerators and denominators used to compute basic and diluted earnings	Three Months Ended March 31, 2021 2020 (dollars in thousands) Numerator: Net income $ 15,245 $ 6,221 Earnings allocated to participating securities (31) (15) Numerator for earnings per share - basic and diluted $ 15,214 $ 6,206 Denominator: Weighted average common shares outstanding 27,430,912 27,457,306 Dilutive effect of outstanding restricted stock units 2,489 — Weighted average common shares outstanding, including all dilutive potential shares 27,433,401 27,457,306 Earnings per share - Basic $ 0.55 $ 0.23 Earnings per share - Diluted $ 0.55 $ 0.23

STOCK-BASED COMPENSATION PLANS

STOCK-BASED COMPENSATION PLANS (Tables)	3 Months Ended
STOCK-BASED COMPENSATION PLANS (Tables)	Mar. 31, 2021
STOCK-BASED COMPENSATION PLANS
Summary of stock-based compensation expense	Three Months Ended March 31, 2021 2020 (dollars in thousands) Restricted stock units $ 114 $ 67 Performance restricted stock units 15 — Total awards classified as equity 129 67 Stock appreciation rights 130 (335) Total stock-based compensation expense (benefit) $ 259 $ (268)
Schedule of the summary of outstanding restricted stock units	Three Months Ended March 31, 2021 2020 Weighted Weighted Average Average Restricted Grant Date Restricted Grant Date Stock Units Fair Value Stock Units Fair Value Beginning balance 71,000 $ 18.98 — $ — Granted 46,347 15.53 73,150 19.03 Vested (20,225) 18.86 — — Forfeited — — — — Ending balance 97,122 $ 17.36 73,150 $ 19.03 A further summary of restricted stock units as of March 31, 2021, is as follows: Weighted Average Restricted Remaining Grant Date Fair Values Stock Units Contractual Term $ 15.53 46,347 2.8 years $ 19.03 50,775 2.8 years
Schedule of the status of stock appreciation rights and changes	Three Months Ended March 31, 2021 2020 Stock Weighted Stock Weighted Beginning balance 105,570 $ 16.32 110,160 $ 16.32 Granted — — — — Exercised — — — — Expired (1,530) 16.32 — — Forfeited — — — — Ending balance 104,040 $ 16.32 110,160 $ 16.32 A further summary of stock appreciation rights as of March 31, 2021, is as follows: Weighted Average Stock Appreciation Rights Remaining Grant Date Assigned Values Outstanding Exercisable Contractual Term $ 16.32 104,040 85,680 7.9 years
Schedule of assumptions used in valuing stock appreciation rights	March 31, December 31, 2021 2020 Risk-free interest rate 1.55 % 0.80 % Expected volatility 34.96 % 34.72 % Expected life (in years) 8.4 8.7 Expected dividend yield 3.50 % 3.96 %
Performance restricted stock units
STOCK-BASED COMPENSATION PLANS
Schedule of the summary of outstanding restricted stock units	Three months ended March 31, 2021 2020 Maximum Maximum Awarded Weighted Awarded Weighted Performance Average Performance Average Restricted Grant Date Restricted Grant Date Stock Units Fair Value Stock Units Fair Value Beginning balance — $ — — $ — Granted 43,046 15.53 — — Vested — — — — Forfeited — — — — Ending balance 43,046 $ 15.53 — $ — A further summary of performance restricted stock units as of March 31, 2021, is as follows: Maximum Awarded Performance Weighted Average Restricted Remaining Grant Date Fair Values Stock Units Contractual Term $ 15.53 43,046 2.9 years

REGULATORY MATTERS (Tables)

REGULATORY MATTERS (Tables)	3 Months Ended
REGULATORY MATTERS (Tables)	Mar. 31, 2021
REGULATORY MATTERS
Schedule of the Company's and the bank subsidiaries' actual and required capital amounts and ratios	Actual For Capital To Be Well March 31, 2021 Amount Ratio Amount Ratio Amount Ratio (dollars in thousands) Total Capital (to Risk Weighted Assets) Consolidated HBT Financial, Inc. $ 434,408 17.37 % $ 200,018 8.00 % N/A N/A Heartland Bank and Trust Company 397,098 15.90 199,847 8.00 $ 249,809 10.00 % Tier 1 Capital (to Risk Weighted Assets) Consolidated HBT Financial, Inc. $ 366,392 14.65 % $ 150,014 6.00 % N/A N/A Heartland Bank and Trust Company 368,339 14.74 149,885 6.00 $ 199,847 8.00 % Common Equity Tier 1 Capital (to Risk Weighted Assets) Consolidated HBT Financial, Inc. $ 329,892 13.19 % $ 112,510 4.50 % N/A N/A Heartland Bank and Trust Company 368,339 14.74 112,414 4.50 $ 162,376 6.50 % Tier 1 Capital (to Average Assets) Consolidated HBT Financial, Inc. $ 366,392 9.85 % $ 148,768 4.00 % N/A N/A Heartland Bank and Trust Company 368,339 9.91 148,616 4.00 $ 185,770 5.00 % Actual For Capital To Be Well December 31, 2020 Amount Ratio Amount Ratio Amount Ratio (dollars in thousands) Total Capital (to Risk Weighted Assets) Consolidated HBT Financial, Inc. $ 426,283 17.40 % $ 195,970 8.00 % N/A N/A Heartland Bank and Trust Company 382,511 15.63 195,787 8.00 $ 244,733 10.00 % Tier 1 Capital (to Risk Weighted Assets) Consolidated HBT Financial, Inc. $ 356,410 14.55 % $ 146,977 6.00 % N/A N/A Heartland Bank and Trust Company 351,904 14.38 146,840 6.00 $ 195,787 8.00 % Common Equity Tier 1 Capital (to Risk Weighted Assets) Consolidated HBT Financial, Inc. $ 319,927 13.06 % $ 110,233 4.50 % N/A N/A Heartland Bank and Trust Company 351,904 14.38 110,130 4.50 $ 159,077 6.50 % Tier 1 Capital (to Average Assets) Consolidated HBT Financial, Inc. $ 356,410 9.94 % $ 143,454 4.00 % N/A N/A Heartland Bank and Trust Company 351,904 9.82 143,296 4.00 $ 179,120 5.00 %

FAIR VALUE OF FINANCIAL INSTR_2

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	3 Months Ended
FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	Mar. 31, 2021
FAIR VALUE OF FINANCIAL INSTRUMENTS
Summary of assets measured at fair value on a recurring basis	March 31, 2021 Level 1 Level 2 Level 3 Total (dollars in thousands) Debt securities available-for-sale: U.S. government agency $ — $ 127,938 $ — $ 127,938 Municipal — 282,333 — 282,333 Mortgage-backed: Agency residential — 169,104 — 169,104 Agency commercial — 207,997 — 207,997 Corporate — 69,463 — 69,463 Equity securities with readily determinable fair values 3,332 — — 3,332 Mortgage servicing rights — — 7,629 7,629 Derivative financial assets — 8,560 — 8,560 Derivative financial liabilities — 9,700 — 9,700 December 31, 2020 Level 1 Level 2 Level 3 Total (dollars in thousands) Debt securities available-for-sale: U.S. government agency $ — $ 121,993 $ — $ 121,993 Municipal — 274,261 — 274,261 Mortgage-backed: Agency residential — 203,252 — 203,252 Agency commercial — 250,766 — 250,766 Corporate — 72,597 — 72,597 Equity securities with readily determinable fair values 3,292 — — 3,292 Mortgage servicing rights — — 5,934 5,934 Derivative financial assets — 15,360 — 15,360 Derivative financial liabilities — 16,818 — 16,818
Schedule of quantitative information about the unobservable inputs used in recurring Level 3 fair value measurements	The following tables present additional information about the unobservable inputs used in the fair value measurement of the mortgage servicing rights (dollars in thousands): March 31, 2021 Fair Value Valuation Technique Unobservable Inputs Range Mortgage servicing rights $ 7,629 Discounted cash flows Constant pre-payment rates (CPR) 7.0% to 85.0% (12.3%) Discount rate 8.8% to 11.0% (9.0%) December 31, 2020 Fair Value Valuation Technique Unobservable Inputs Range Mortgage servicing rights $ 5,934 Discounted cash flows Constant pre-payment rates (CPR) 7.0% to 85.0% (17.3%) Discount rate 9.0% to 11.0% (9.0%)
Summary of assets measured at fair value on a nonrecurring basis	March 31, 2021 Level 1 Level 2 Level 3 Total (dollars in thousands) Loans held for sale $ — $ 12,882 $ — $ 12,882 Collateral-dependent impaired loans — — 30,579 30,579 Bank premises held for sale — — 121 121 Foreclosed assets — — 4,748 4,748 December 31, 2020 Level 1 Level 2 Level 3 Total (dollars in thousands) Loans held for sale $ — $ 14,713 $ — $ 14,713 Collateral-dependent impaired loans — — 33,320 33,320 Bank premises held for sale — — 121 121 Foreclosed assets — — 4,168 4,168
Schedule of quantitative information about the unobservable inputs used in non-recurring Level 3 fair value measurements	The following tables present quantitative information about unobservable inputs used in nonrecurring Level 3 fair value measurements (dollars in thousands): March 31, 2021 Fair Valuation Unobservable Inputs Range Collateral-dependent impaired loans $ 30,579 Appraisal of collateral Appraisal adjustments Not meaningful Bank premises held for sale 121 Appraisal Appraisal adjustments 7% (7%) Foreclosed assets 4,748 Appraisal Appraisal adjustments 7% (7%) December 31, 2020 Fair Valuation Unobservable Inputs Range Collateral-dependent impaired loans $ 33,320 Appraisal of collateral Appraisal adjustments Not meaningful Bank premises held for sale 121 Appraisal Appraisal adjustments 7% (7%) Foreclosed assets 4,168 Appraisal Appraisal adjustments 7% (7%)
Summary information on the carrying amounts and estimated fair values of the Company's financial instruments	Fair Value March 31, 2021 December 31, 2020 Hierarchy Carrying Estimated Carrying Estimated Level Amount Fair Value Amount Fair Value (dollars in thousands) Financial assets: Cash and cash equivalents Level 1 $ 429,736 $ 429,736 $ 312,451 $ 312,451 Debt securities held-to-maturity Level 2 192,994 195,608 68,395 72,441 Restricted stock Level 3 2,498 2,498 2,498 2,498 Loans, net Level 3 2,241,946 2,264,145 2,215,168 2,235,767 Investments in unconsolidated subsidiaries Level 3 1,165 1,165 1,165 1,165 Accrued interest receivable Level 2 12,718 12,718 14,255 14,255 Financial liabilities: Time deposits Level 3 285,461 286,430 299,474 300,989 Securities sold under agreements to repurchase Level 2 41,976 41,976 45,736 45,736 Subordinated notes Level 3 39,257 38,162 39,238 38,403 Junior subordinated debentures Level 3 37,665 23,528 37,648 23,766 Accrued interest payable Level 2 551 551 1,151 1,151

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	3 Months Ended
COMMITMENTS AND CONTINGENCIES (Tables)	Mar. 31, 2021
COMMITMENTS AND CONTINGENCIES
Schedule of commitments and conditional obligations	Contractual Amount March 31, December 31, 2021 2020 (dollars in thousands) Commitments to extend credit $ 523,646 $ 530,191 Standby letters of credit 10,235 10,031

ACCOUNTING POLICIES (Details)

ACCOUNTING POLICIES (Details)	3 Months Ended
ACCOUNTING POLICIES (Details)	Mar. 31, 2021segment
ACCOUNTING POLICIES
Number of segments	1

SECURITIES - Narrative (Details

SECURITIES - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
SECURITIES - Narrative (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
SECURITIES
Carrying value of securities pledged to secure public and trust deposits	$ 283,967	$ 308,064
Illinois
SECURITIES
Percentage of obligations of local municipalities	43.00%
Percentage of general obligations in local municipalities	94.00%

SECURITIES - Carrying balances

SECURITIES - Carrying balances of securities (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
SECURITIES
Debt securities available-for-sale	$ 856,835	$ 922,869
Debt securities held-to-maturity Amortized Cost	192,994	68,395
Equity securities with readily determinable fair value	3,332	3,292
Equity securities with no readily determinable fair value	1,552	1,552
Total securities	$ 1,054,713	$ 996,108

SECURITIES - Sale and Gain (los

SECURITIES - Sale and Gain (loss) on securities (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Sales of securities available-for-sale
Proceeds from sales	$ 0	$ 0
Net unrealized gains (losses) on equity securities:
Readily determinable fair value	40	(52)
Gains (losses) on securities	$ 40	$ (52)

SECURITIES - Amortized cost and

SECURITIES - Amortized cost and Fair values of held-to-maturity securities transferred from available-for-sale securities (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Held-to-maturity
Debt securities held-to-maturity Amortized Cost	$ 192,994	$ 68,395
Fair Value	195,608	72,441
U.S. government agency
Held-to-maturity
Debt securities held-to-maturity Amortized Cost	7,323
Fair Value	7,323
Mortgage-backed: Agency residential
Held-to-maturity
Debt securities held-to-maturity Amortized Cost	20,335	13,031
Fair Value	20,723	13,483
Mortgage-backed: Agency commercial
Held-to-maturity
Debt securities held-to-maturity Amortized Cost	144,269	32,880
Fair Value	145,307	$ 35,084
Debt Securities Transferred
Held-to-maturity
Debt securities held-to-maturity Amortized Cost	135,161
Fair Value	129,720
Debt Securities Transferred \| U.S. government agency
Held-to-maturity
Debt securities held-to-maturity Amortized Cost	7,593
Fair Value	7,323
Debt Securities Transferred \| Mortgage-backed: Agency residential
Held-to-maturity
Debt securities held-to-maturity Amortized Cost	8,776
Fair Value	8,536
Debt Securities Transferred \| Mortgage-backed: Agency commercial
Held-to-maturity
Debt securities held-to-maturity Amortized Cost	118,792
Fair Value	$ 113,861

SECURITIES - Amortized cost a_2

SECURITIES - Amortized cost and Fair values of securities with gross unrealized gains and losses (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Available-for-sale
Amortized Cost	$ 851,299	$ 899,700
Gross Unrealized Gains	17,441	24,260
Gross Unrealized Losses	(11,905)	(1,091)
Fair Value	856,835	922,869
Held-to-maturity
Amortized Cost	192,994	68,395
Gross Unrealized Gains	2,899	4,064
Gross Unrealized Losses	(285)	(18)
Fair Value	195,608	72,441
Total Amortized Cost	1,044,293	968,095
Total Gross Unrealized Gains	20,340	28,324
Total Gross Unrealized Losses	(12,190)	(1,109)
Total Fair Value	1,052,443	995,310
U.S. government agency
Available-for-sale
Amortized Cost	129,494	118,282
Gross Unrealized Gains	1,785	3,720
Gross Unrealized Losses	(3,341)	(9)
Fair Value	127,938	121,993
Held-to-maturity
Amortized Cost	7,323
Fair Value	7,323
Municipal
Available-for-sale
Amortized Cost	280,212	265,309
Gross Unrealized Gains	6,479	9,232
Gross Unrealized Losses	(4,358)	(280)
Fair Value	282,333	274,261
Held-to-maturity
Amortized Cost	21,067	22,484
Gross Unrealized Gains	1,188	1,390
Fair Value	22,255	23,874
Mortgage-backed: Agency residential
Available-for-sale
Amortized Cost	164,942	198,543
Gross Unrealized Gains	4,366	4,871
Gross Unrealized Losses	(204)	(162)
Fair Value	169,104	203,252
Held-to-maturity
Amortized Cost	20,335	13,031
Gross Unrealized Gains	388	452
Fair Value	20,723	13,483
Mortgage-backed: Agency commercial
Available-for-sale
Amortized Cost	208,692	246,649
Gross Unrealized Gains	2,861	4,651
Gross Unrealized Losses	(3,556)	(534)
Fair Value	207,997	250,766
Held-to-maturity
Amortized Cost	144,269	32,880
Gross Unrealized Gains	1,323	2,222
Gross Unrealized Losses	(285)	(18)
Fair Value	145,307	35,084
Corporate
Available-for-sale
Amortized Cost	67,959	70,917
Gross Unrealized Gains	1,950	1,786
Gross Unrealized Losses	(446)	(106)
Fair Value	$ 69,463	$ 72,597

SECURITIES - Amortized cost a_3

SECURITIES - Amortized cost and Fair values of securities with maturities (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Amortized Cost
Amortized Cost	$ 851,299	$ 899,700
Fair Value
Fair Value	856,835	922,869
Amortized Cost
Debt securities held-to-maturity Amortized Cost	192,994	68,395
Fair Value
Fair Value	195,608	72,441
Mortgage-backed: Agency residential
Amortized Cost
Amortized Cost	164,942	198,543
Fair Value
Fair Value	169,104	203,252
Amortized Cost
Debt securities held-to-maturity Amortized Cost	20,335	13,031
Fair Value
Fair Value	20,723	13,483
Mortgage-backed: Agency commercial
Amortized Cost
Amortized Cost	208,692	246,649
Fair Value
Fair Value	207,997	250,766
Amortized Cost
Debt securities held-to-maturity Amortized Cost	144,269	32,880
Fair Value
Fair Value	145,307	$ 35,084
Available-for-sale
Amortized Cost
Due in 1 year or less	31,406
Due after 1 year through 5 years	76,138
Due after 5 years through 10 years	242,096
Due after 10 years	128,025
Amortized Cost	851,299
Fair Value
Due in 1 year or less	31,734
Due after 1 year through 5 years	78,807
Due after 5 years through 10 years	242,487
Due after 10 years	126,706
Fair Value	856,835
Available-for-sale \| Mortgage-backed: Agency residential
Amortized Cost
Amortized Cost	164,942
Fair Value
Fair Value	169,104
Available-for-sale \| Mortgage-backed: Agency commercial
Amortized Cost
Amortized Cost	208,692
Fair Value
Fair Value	207,997
Held-to-maturity
Amortized Cost
Due in 1 year or less	2,772
Due after 1 year through 5 years	12,000
Due after 5 years through 10 years	13,227
Due after 10 years	391
Debt securities held-to-maturity Amortized Cost	192,994
Fair Value
Due in 1 year or less	2,817
Due after 1 year through 5 years	12,770
Due after 5 years through 10 years	13,580
Due after 10 years	411
Fair Value	195,608
Held-to-maturity \| Mortgage-backed: Agency residential
Amortized Cost
Debt securities held-to-maturity Amortized Cost	20,335
Fair Value
Fair Value	20,723
Held-to-maturity \| Mortgage-backed: Agency commercial
Amortized Cost
Debt securities held-to-maturity Amortized Cost	144,269
Fair Value
Fair Value	$ 145,307

SECURITIES - Investments in a C

SECURITIES - Investments in a Continuous Unrealized Loss Position (Details) $ in Thousands	Mar. 31, 2021USD ($)item	Dec. 31, 2020USD ($)
Available-for-sale: Unrealized Loss
Less than 12 Months	$ (11,866)	$ (1,061)
12 Months or More	(39)	(30)
Total Unrealized Loss of Available-for-sale securities	(11,905)	(1,091)
Held-to-maturity: Unrealized Loss
Less than 12 Months	(285)	(18)
Total Unrealized Loss of Held-to-maturity securities	(285)	(18)
Available-for-sale: Fair Value
Less than 12 Months	353,435	107,933
12 Months or More	3,594	7,939
Total Fair Value Available-for-sale securities	357,029	115,872
Held-to-maturity: Fair value
Less than 12 Months	7,669	2,983
Total Fair Value Held-to-maturity securities	7,669	2,983
Total: Unrealized Losses
Less Than 12 Months	(12,151)	(1,079)
12 Months or More	(39)	(30)
Total Unrealized Losses	(12,190)	(1,109)
Total: Fair Value
Less than 12 Months	361,104	110,916
12 Months or More	3,594	7,939
Total Fair Value	$ 364,698	118,855
Number of securities in an unrealized loss position for a period of twelve months or more \| item	14
Number of securities in an unrealized loss position for a period of less than twelve months \| item	184
U.S. government agency
Available-for-sale: Unrealized Loss
Less than 12 Months	$ (3,341)	(9)
Total Unrealized Loss of Available-for-sale securities	(3,341)	(9)
Available-for-sale: Fair Value
Less than 12 Months	80,395	5,919
Total Fair Value Available-for-sale securities	80,395	5,919
Municipal
Available-for-sale: Unrealized Loss
Less than 12 Months	(4,358)	(280)
Total Unrealized Loss of Available-for-sale securities	(4,358)	(280)
Available-for-sale: Fair Value
Less than 12 Months	119,502	19,652
Total Fair Value Available-for-sale securities	119,502	19,652
Mortgage-backed: Agency residential
Available-for-sale: Unrealized Loss
Less than 12 Months	(165)	(142)
12 Months or More	(39)	(20)
Total Unrealized Loss of Available-for-sale securities	(204)	(162)
Available-for-sale: Fair Value
Less than 12 Months	26,810	20,387
12 Months or More	3,594	4,490
Total Fair Value Available-for-sale securities	30,404	24,877
Mortgage-backed: Agency commercial
Available-for-sale: Unrealized Loss
Less than 12 Months	(3,556)	(524)
12 Months or More		(10)
Total Unrealized Loss of Available-for-sale securities	(3,556)	(534)
Held-to-maturity: Unrealized Loss
Less than 12 Months	(285)	(18)
Total Unrealized Loss of Held-to-maturity securities	(285)	(18)
Available-for-sale: Fair Value
Less than 12 Months	119,719	57,126
12 Months or More		3,449
Total Fair Value Available-for-sale securities	119,719	60,575
Held-to-maturity: Fair value
Less than 12 Months	7,669	2,983
Total Fair Value Held-to-maturity securities	7,669	2,983
Corporate
Available-for-sale: Unrealized Loss
Less than 12 Months	(446)	(106)
Total Unrealized Loss of Available-for-sale securities	(446)	(106)
Available-for-sale: Fair Value
Less than 12 Months	7,009	4,849
Total Fair Value Available-for-sale securities	$ 7,009	$ 4,849

SECURITIES - Equity securities

SECURITIES - Equity securities (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Equity Securities - Readily determinable fair value
Equity Securities, Readily determinable fair value, cost	$ 3,098	$ 3,098
Equity Securities, Readily determinable fair value, Cumulative Net Unrealized Gains (Losses)	234	194
Equity securities, Readily determinable fair value, Carrying Value	3,332	3,292
Equity Securities - No readily determinable fair value
Equity Securities, No readily determinable fair value, cost	1,717	1,717
Equity Securities, No readily determinable fair value, Cumulative Net Unrealized Gains (Losses)	(165)	(165)
Equity securities: No readily determinable fair value, Carrying Value	1,552	1,552
Impairment on equity securities with no readily determinable value	0	0
Upward adjustment on equity securities with no readily determinable fair value	$ 0	$ 0

LOANS AND THE ALLOWANCE FOR L_3

LOANS AND THE ALLOWANCE FOR LOAN LOSSES - Categories of loans (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Loans, before allowance for loan losses	$ 2,270,705	$ 2,247,006
Allowance for loan losses	(28,759)	(31,838)	$ (26,087)	$ (22,299)
Loans, net of allowance for loan losses	2,241,946	2,215,168
Paycheck Protection Program (PPP) Loans
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Loans, before allowance for loan losses	190,559	163,496
Commercial and industrial
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Loans, before allowance for loan losses	412,812	393,312
Allowance for loan losses	(2,420)	(3,929)	(4,224)	(4,441)
Commercial and industrial \| Paycheck Protection Program (PPP) Loans
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Loans, before allowance for loan losses	175,389	153,860
Agricultural and farmland
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Loans, before allowance for loan losses	228,032	222,723
Allowance for loan losses	(865)	(793)	(2,993)	(2,766)
Agricultural and farmland \| Paycheck Protection Program (PPP) Loans
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Loans, before allowance for loan losses	8,921	3,049
Commercial real estate - owner occupied
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Loans, before allowance for loan losses	224,599	222,360
Allowance for loan losses	(2,715)	(3,141)	(2,122)	(1,779)
Commercial real estate - non-owner occupied
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Loans, before allowance for loan losses	516,963	520,395
Allowance for loan losses	(11,330)	(11,251)	(4,432)	(3,663)
Multi-family
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Loans, before allowance for loan losses	236,381	236,391
Allowance for loan losses	(2,090)	(1,957)	(1,474)	(1,024)
Construction and land development
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Loans, before allowance for loan losses	215,375	225,652
Allowance for loan losses	(4,006)	(4,232)	(3,223)	(2,977)
One-to-four family residential
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Loans, before allowance for loan losses	300,768	306,775
Allowance for loan losses	(1,573)	(1,801)	(3,284)	(2,540)
Municipal, consumer, and other
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Loans, before allowance for loan losses	135,775	119,398
Allowance for loan losses	(3,760)	(4,734)	$ (4,335)	$ (3,109)
Municipal, consumer, and other \| Paycheck Protection Program (PPP) Loans
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Loans, before allowance for loan losses	$ 6,249	$ 6,587

LOANS AND THE ALLOWANCE FOR L_4

LOANS AND THE ALLOWANCE FOR LOAN LOSSES - Summary (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Activity in the allowance for loan losses
Allowance for loan losses at beginning of period	$ 31,838	$ 22,299
Provision for loan losses	(3,405)	4,355
Charge-offs	(195)	(1,221)
Recoveries	521	654
Allowance for loan losses at end of period	28,759	26,087
Commercial and industrial
Activity in the allowance for loan losses
Allowance for loan losses at beginning of period	3,929	4,441
Provision for loan losses	(1,802)	538
Charge-offs		(809)
Recoveries	293	54
Allowance for loan losses at end of period	2,420	4,224
Agricultural and farmland
Activity in the allowance for loan losses
Allowance for loan losses at beginning of period	793	2,766
Provision for loan losses	72	254
Charge-offs		(27)
Allowance for loan losses at end of period	865	2,993
Commercial real estate - owner occupied
Activity in the allowance for loan losses
Allowance for loan losses at beginning of period	3,141	1,779
Provision for loan losses	(426)	(97)
Recoveries		440
Allowance for loan losses at end of period	2,715	2,122
Commercial real estate - non-owner occupied
Activity in the allowance for loan losses
Allowance for loan losses at beginning of period	11,251	3,663
Provision for loan losses	72	820
Charge-offs		(56)
Recoveries	7	5
Allowance for loan losses at end of period	11,330	4,432
Multi-family
Activity in the allowance for loan losses
Allowance for loan losses at beginning of period	1,957	1,024
Provision for loan losses	133	450
Allowance for loan losses at end of period	2,090	1,474
Construction and land development
Activity in the allowance for loan losses
Allowance for loan losses at beginning of period	4,232	2,977
Provision for loan losses	(316)	237
Charge-offs		(1)
Recoveries	90	10
Allowance for loan losses at end of period	4,006	3,223
One-to-four family residential
Activity in the allowance for loan losses
Allowance for loan losses at beginning of period	1,801	2,540
Provision for loan losses	(198)	777
Charge-offs	(72)	(104)
Recoveries	42	71
Allowance for loan losses at end of period	1,573	3,284
Municipal, consumer, and other
Activity in the allowance for loan losses
Allowance for loan losses at beginning of period	4,734	3,109
Provision for loan losses	(940)	1,376
Charge-offs	(123)	(224)
Recoveries	89	74
Allowance for loan losses at end of period	$ 3,760	$ 4,335

LOANS AND THE ALLOWANCE FOR L_5

LOANS AND THE ALLOWANCE FOR LOAN LOSSES - Recorded investments in loans and the allowance for loan losses (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Collectively evaluated for impairment, Loans	$ 2,165,695	$ 2,133,446
Individually evaluated for impairment, Loans	70,266	77,804
Total	2,270,705	2,247,006
Collectively evaluated for impairment, Allowance for loan losses	19,387	21,152
Individually evaluated for impairment, Allowance for loan losses	8,730	9,982
Total investments in loans	28,759	31,838	$ 26,087	$ 22,299
Loans acquired with deteriorated credit quality
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	34,744	35,756
Individually evaluated for impairment, Allowance for loan losses	642	704
Commercial and industrial
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Collectively evaluated for impairment, Loans	408,664	387,072
Individually evaluated for impairment, Loans	3,230	5,312
Total	412,812	393,312
Collectively evaluated for impairment, Allowance for loan losses	1,218	2,736
Individually evaluated for impairment, Allowance for loan losses	1,095	1,193
Total investments in loans	2,420	3,929	4,224	4,441
Commercial and industrial \| Loans acquired with deteriorated credit quality
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	918	928
Individually evaluated for impairment, Allowance for loan losses	107
Agricultural and farmland
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Collectively evaluated for impairment, Loans	226,668	217,077
Individually evaluated for impairment, Loans	548	4,793
Total	228,032	222,723
Collectively evaluated for impairment, Allowance for loan losses	845	771
Individually evaluated for impairment, Allowance for loan losses	19	22
Total investments in loans	865	793	2,993	2,766
Agricultural and farmland \| Loans acquired with deteriorated credit quality
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	816	853
Individually evaluated for impairment, Allowance for loan losses	1
Commercial real estate - owner occupied
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Collectively evaluated for impairment, Loans	204,327	201,417
Individually evaluated for impairment, Loans	12,680	13,132
Total	224,599	222,360
Collectively evaluated for impairment, Allowance for loan losses	2,032	2,306
Individually evaluated for impairment, Allowance for loan losses	420	429
Total investments in loans	2,715	3,141	2,122	1,779
Commercial real estate - owner occupied \| Loans acquired with deteriorated credit quality
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	7,592	7,811
Individually evaluated for impairment, Allowance for loan losses	263	406
Commercial real estate - non-owner occupied
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Collectively evaluated for impairment, Loans	477,116	480,165
Individually evaluated for impairment, Loans	25,871	25,993
Total	516,963	520,395
Collectively evaluated for impairment, Allowance for loan losses	6,947	6,736
Individually evaluated for impairment, Allowance for loan losses	4,142	4,255
Total investments in loans	11,330	11,251	4,432	3,663
Commercial real estate - non-owner occupied \| Loans acquired with deteriorated credit quality
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	13,976	14,237
Individually evaluated for impairment, Allowance for loan losses	241	260
Multi-family
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Collectively evaluated for impairment, Loans	234,257	234,252
Individually evaluated for impairment, Loans	874	876
Total	236,381	236,391
Collectively evaluated for impairment, Allowance for loan losses	2,080	1,950
Total investments in loans	2,090	1,957	1,474	1,024
Multi-family \| Loans acquired with deteriorated credit quality
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	1,250	1,263
Individually evaluated for impairment, Allowance for loan losses	10	7
Construction and land development
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Collectively evaluated for impairment, Loans	208,835	219,822
Individually evaluated for impairment, Loans	4,165	3,809
Total	215,375	225,652
Collectively evaluated for impairment, Allowance for loan losses	3,846	3,984
Individually evaluated for impairment, Allowance for loan losses	144	222
Total investments in loans	4,006	4,232	3,223	2,977
Construction and land development \| Loans acquired with deteriorated credit quality
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	2,375	2,021
Individually evaluated for impairment, Allowance for loan losses	16	26
One-to-four family residential
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Collectively evaluated for impairment, Loans	283,562	287,845
Individually evaluated for impairment, Loans	9,443	10,343
Total	300,768	306,775
Collectively evaluated for impairment, Allowance for loan losses	1,091	1,237
Individually evaluated for impairment, Allowance for loan losses	479	560
Total investments in loans	1,573	1,801	3,284	2,540
One-to-four family residential \| Loans acquired with deteriorated credit quality
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	7,763	8,587
Individually evaluated for impairment, Allowance for loan losses	3	4
Municipal, consumer, and other
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Collectively evaluated for impairment, Loans	122,266	105,796
Individually evaluated for impairment, Loans	13,455	13,546
Total	135,775	119,398
Collectively evaluated for impairment, Allowance for loan losses	1,328	1,432
Individually evaluated for impairment, Allowance for loan losses	2,431	3,301
Total investments in loans	3,760	4,734	$ 4,335	$ 3,109
Municipal, consumer, and other \| Loans acquired with deteriorated credit quality
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	54	56
Individually evaluated for impairment, Allowance for loan losses	$ 1	$ 1

LOANS AND THE ALLOWANCE FOR L_6

LOANS AND THE ALLOWANCE FOR LOAN LOSSES - Individually evaluated for impairment by category of loans (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Unpaid Principal Balance
With an allowance recorded	$ 40,013		$ 43,955
With no related allowance	33,685		37,232
Total loans individually evaluated for impairment	73,698		81,187
Recorded Investment
With an allowance recorded	39,309		43,302
With no related allowance	30,957		34,502
Total loans individually evaluated for impairment	70,266		77,804
Related Allowance	8,730		9,982
Average Recorded Investment
With an allowance recorded	39,733	$ 23,798
With no related allowance	31,083	42,271
Total loans individually evaluated for impairment	70,816	66,069
Interest Income Recognized
With an allowance recorded	372	217
With no related allowance	317	513
Total loans individually evaluated for impairment	689	730
Commercial and industrial
Unpaid Principal Balance
With an allowance recorded	2,252		2,737
With no related allowance	1,738		3,322
Total loans individually evaluated for impairment	3,990		6,059
Recorded Investment
With an allowance recorded	2,240		2,725
With no related allowance	990		2,587
Total loans individually evaluated for impairment	3,230		5,312
Related Allowance	1,095		1,193
Average Recorded Investment
With an allowance recorded	2,266	3,486
With no related allowance	1,068	5,941
Total loans individually evaluated for impairment	3,334	9,427
Interest Income Recognized
With an allowance recorded	31	49
With no related allowance	14	58
Total loans individually evaluated for impairment	45	107
Agricultural and farmland
Unpaid Principal Balance
With an allowance recorded	166		169
With no related allowance	383		4,625
Total loans individually evaluated for impairment	549		4,794
Recorded Investment
With an allowance recorded	165		168
With no related allowance	383		4,625
Total loans individually evaluated for impairment	548		4,793
Related Allowance	19		22
Average Recorded Investment
With an allowance recorded	168	573
With no related allowance	383	12,520
Total loans individually evaluated for impairment	551	13,093
Interest Income Recognized
With an allowance recorded	2	4
With no related allowance	6	161
Total loans individually evaluated for impairment	8	165
Commercial real estate - owner occupied
Unpaid Principal Balance
With an allowance recorded	3,156		3,072
With no related allowance	9,635		10,164
Total loans individually evaluated for impairment	12,791		13,236
Recorded Investment
With an allowance recorded	3,121		3,040
With no related allowance	9,559		10,092
Total loans individually evaluated for impairment	12,680		13,132
Related Allowance	420		429
Average Recorded Investment
With an allowance recorded	3,244	828
With no related allowance	9,600	10,432
Total loans individually evaluated for impairment	12,844	11,260
Interest Income Recognized
With an allowance recorded	41	11
With no related allowance	122	131
Total loans individually evaluated for impairment	163	142
Commercial real estate - non-owner occupied
Unpaid Principal Balance
With an allowance recorded	20,605		20,726
With no related allowance	5,747		5,727
Total loans individually evaluated for impairment	26,352		26,453
Recorded Investment
With an allowance recorded	20,256		20,394
With no related allowance	5,615		5,599
Total loans individually evaluated for impairment	25,871		25,993
Related Allowance	4,142		4,255
Average Recorded Investment
With an allowance recorded	20,361	99
With no related allowance	5,665	3,340
Total loans individually evaluated for impairment	26,026	3,439
Interest Income Recognized
With an allowance recorded	208	2
With no related allowance	68	41
Total loans individually evaluated for impairment	276	43
Multi-family
Unpaid Principal Balance
With no related allowance	874		876
Total loans individually evaluated for impairment	874		876
Recorded Investment
With no related allowance	874		876
Total loans individually evaluated for impairment	874		876
Average Recorded Investment
With no related allowance	876
Total loans individually evaluated for impairment	876
Interest Income Recognized
With no related allowance	10
Total loans individually evaluated for impairment	10
Construction and land development
Unpaid Principal Balance
With an allowance recorded	2,229		2,081
With no related allowance	1,978		1,762
Total loans individually evaluated for impairment	4,207		3,843
Recorded Investment
With an allowance recorded	2,196		2,055
With no related allowance	1,969		1,754
Total loans individually evaluated for impairment	4,165		3,809
Related Allowance	144		222
Average Recorded Investment
With an allowance recorded	2,248	3,064
With no related allowance	1,764	324
Total loans individually evaluated for impairment	4,012	3,388
Interest Income Recognized
With an allowance recorded	27	41
With no related allowance	26	4
Total loans individually evaluated for impairment	53	45
One-to-four family residential
Unpaid Principal Balance
With an allowance recorded	2,835		2,963
With no related allowance	8,556		9,325
Total loans individually evaluated for impairment	11,391		12,288
Recorded Investment
With an allowance recorded	2,587		2,739
With no related allowance	6,856		7,604
Total loans individually evaluated for impairment	9,443		10,343
Related Allowance	479		560
Average Recorded Investment
With an allowance recorded	2,644	3,261
With no related allowance	6,981	8,344
Total loans individually evaluated for impairment	9,625	11,605
Interest Income Recognized
With an allowance recorded	23	27
With no related allowance	49	62
Total loans individually evaluated for impairment	72	89
Municipal, consumer, and other
Unpaid Principal Balance
With an allowance recorded	8,770		12,207
With no related allowance	4,774		1,431
Total loans individually evaluated for impairment	13,544		13,638
Recorded Investment
With an allowance recorded	8,744		12,181
With no related allowance	4,711		1,365
Total loans individually evaluated for impairment	13,455		13,546
Related Allowance	2,431		$ 3,301
Average Recorded Investment
With an allowance recorded	8,802	12,487
With no related allowance	4,746	1,370
Total loans individually evaluated for impairment	13,548	13,857
Interest Income Recognized
With an allowance recorded	40	83
With no related allowance	22	56
Total loans individually evaluated for impairment	$ 62	$ 139

LOANS AND THE ALLOWANCE FOR L_7

LOANS AND THE ALLOWANCE FOR LOAN LOSSES - Past Due Status (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Accruing Interest
Current	$ 2,260,634	$ 2,235,144
Nonaccrual	9,106	9,939
Total	2,270,705	2,247,006
30 - 89 Days Past Due
Accruing Interest
Past due	926	1,307
90+ Days Past Due
Accruing Interest
Past due	39	616
Commercial and industrial
Accruing Interest
Current	412,005	392,490
Nonaccrual	807	822
Total	412,812	393,312
Agricultural and farmland
Accruing Interest
Current	228,032	222,723
Total	228,032	222,723
Commercial real estate - owner occupied
Accruing Interest
Current	224,026	221,308
Nonaccrual	573	940
Total	224,599	222,360
Commercial real estate - owner occupied \| 30 - 89 Days Past Due
Accruing Interest
Past due		112
Commercial real estate - non-owner occupied
Accruing Interest
Current	512,889	516,387
Nonaccrual	3,982	4,008
Total	516,963	520,395
Commercial real estate - non-owner occupied \| 30 - 89 Days Past Due
Accruing Interest
Past due	92
Multi-family
Accruing Interest
Current	236,381	236,391
Total	236,381	236,391
Construction and land development
Accruing Interest
Current	215,221	225,508
Nonaccrual	139	144
Total	215,375	225,652
Construction and land development \| 30 - 89 Days Past Due
Accruing Interest
Past due	15
One-to-four family residential
Accruing Interest
Current	296,530	301,282
Nonaccrual	3,503	3,914
Total	300,768	306,775
One-to-four family residential \| 30 - 89 Days Past Due
Accruing Interest
Past due	706	984
One-to-four family residential \| 90+ Days Past Due
Accruing Interest
Past due	29	595
Municipal, consumer, and other
Accruing Interest
Current	135,550	119,055
Nonaccrual	102	111
Total	135,775	119,398
Municipal, consumer, and other \| 30 - 89 Days Past Due
Accruing Interest
Past due	113	211
Municipal, consumer, and other \| 90+ Days Past Due
Accruing Interest
Past due	$ 10	$ 21

LOANS AND THE ALLOWANCE FOR L_8

LOANS AND THE ALLOWANCE FOR LOAN LOSSES - Assigned Risk Ratings (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	$ 2,270,705	$ 2,247,006
Pass
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	1,989,318	1,953,912
Pass-Watch
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	205,123	208,584
Substandard
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	76,264	84,510
Commercial and industrial
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	412,812	393,312
Commercial and industrial \| Pass
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	392,957	368,843
Commercial and industrial \| Pass-Watch
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	15,734	18,258
Commercial and industrial \| Substandard
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	4,121	6,211
Agricultural and farmland
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	228,032	222,723
Agricultural and farmland \| Pass
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	196,773	191,662
Agricultural and farmland \| Pass-Watch
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	29,994	25,540
Agricultural and farmland \| Substandard
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	1,265	5,521
Commercial real estate - owner occupied
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	224,599	222,360
Commercial real estate - owner occupied \| Pass
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	180,381	176,823
Commercial real estate - owner occupied \| Pass-Watch
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	31,165	31,990
Commercial real estate - owner occupied \| Substandard
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	13,053	13,547
Commercial real estate - non-owner occupied
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	516,963	520,395
Commercial real estate - non-owner occupied \| Pass
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	429,273	432,752
Commercial real estate - non-owner occupied \| Pass-Watch
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	58,874	58,699
Commercial real estate - non-owner occupied \| Substandard
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	28,816	28,944
Multi-family
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	236,381	236,391
Multi-family \| Pass
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	208,800	204,449
Multi-family \| Pass-Watch
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	26,707	31,066
Multi-family \| Substandard
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	874	876
Construction and land development
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	215,375	225,652
Construction and land development \| Pass
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	182,730	193,646
Construction and land development \| Pass-Watch
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	28,480	28,193
Construction and land development \| Substandard
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	4,165	3,813
One-to-four family residential
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	300,768	306,775
One-to-four family residential \| Pass
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	276,413	280,198
One-to-four family residential \| Pass-Watch
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	13,839	14,526
One-to-four family residential \| Substandard
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	10,516	12,051
Municipal, consumer, and other
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	135,775	119,398
Municipal, consumer, and other \| Pass
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	121,991	105,539
Municipal, consumer, and other \| Pass-Watch
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	330	312
Municipal, consumer, and other \| Substandard
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	$ 13,454	$ 13,547

LOANS AND THE ALLOWANCE FOR L_9

LOANS AND THE ALLOWANCE FOR LOAN LOSSES - Troubled Debt Restructurings (Details) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Loans with payment modifications due to COVID-19	$ 16,697,000		$ 27,986,000
Troubled debt restructurings	8,673,000		$ 8,950,000
Troubled debt restructuring subsequent payment defaults during the three months	$ 0	$ 0

LOANS AND THE ALLOWANCE FOR _10

LOANS AND THE ALLOWANCE FOR LOAN LOSSES - Accretable Yield For Loans (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Changes in accretable yield for loans acquired with deteriorated credit quality
Beginning balance	$ 1,397	$ 1,662
Reclassification from non-accretable difference	74	8
Accretion income	(133)	(160)
Ending balance	$ 1,338	$ 1,510

LOAN SERVICING - Mortgage Servi

LOAN SERVICING - Mortgage Servicing Rights (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Beginning balance	$ 5,934
Ending balance	7,629		$ 5,934
Mortgage Loans
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Beginning balance	5,934	$ 8,518	8,518
Capitalized servicing rights	397	214
Attributable to payments and principal reductions	(467)	(403)
Attributable to changes in valuation inputs and assumptions	1,765	(1,982)
Total fair value adjustment	1,298	(2,385)
Ending balance	7,629	$ 6,347	5,934
Mortgage loans serviced for others	$ 1,077,291		$ 1,090,219

FORECLOSED ASSETS - Activity (D

FORECLOSED ASSETS - Activity (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
FORECLOSED ASSETS
Beginning balance	$ 4,168	$ 5,099
Transfers from loans	671	19
Proceeds from sales	(15)	(677)
Net gain (loss) on sales	(3)	75
Direct write-downs	(73)	(47)
Ending balance	$ 4,748	$ 4,469

FORECLOSED ASSETS - Gains (loss

FORECLOSED ASSETS - Gains (losses) on Foreclosed Assets (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
FORECLOSED ASSETS
Direct write-downs	$ (73)	$ (47)
Net gain (loss) on sales	(3)	75
Guarantee reimbursements		7
Gains (losses) on foreclosed assets	$ (76)	$ 35

FORECLOSED ASSETS - Additional

FORECLOSED ASSETS - Additional Information (Details) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2021USD ($)loan	Dec. 31, 2020USD ($)loan	Mar. 31, 2020USD ($)	Dec. 31, 2019USD ($)
FORECLOSED ASSETS
Carrying value of foreclosed asset	$ 4,748	$ 4,168	$ 4,469	$ 5,099
One-to-four family residential real estate property
FORECLOSED ASSETS
Carrying value of foreclosed asset	$ 1,341	$ 868
Number of loans in the process of foreclosure \| loan	8	11
Loan amount in the process of foreclosure	$ 947	$ 1,526

DEPOSITS - Interest bearing Dep

DEPOSITS - Interest bearing Deposits (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
DEPOSITS
Noninterest-bearing Deposit Liabilities	$ 968,991	$ 882,939
Interest-bearing demand	1,008,954	968,592
Money market	499,088	462,056
Savings	593,472	517,473
Time	285,461	299,474
Total interest-bearing deposits	2,386,975	2,247,595
Total deposits	$ 3,355,966	$ 3,130,534

DEPOSITS - Interest bearing D_2

DEPOSITS - Interest bearing Deposits - Narrative (Detail) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
DEPOSITS
Reciprocal transaction deposits, Money market deposits	$ 6,853	$ 6,489
Reciprocal transaction deposits, Time deposits	2,687	3,164
Time deposits in denominations of $250,000 or more	21,900	26,687
Time deposits in denominations of $100,000 or more	$ 92,266	$ 99,649

DEPOSITS - Interest expense on

DEPOSITS - Interest expense on Deposits (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
DEPOSITS
Interest-bearing demand	$ 117	$ 251
Money market	89	394
Savings	41	70
Time	397	880
Total interest expense on deposits	$ 644	$ 1,595

BORROWINGS (Details)

BORROWINGS (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
BORROWINGS
Borrowings	$ 0	$ 0
Securities pledged, served as collateral	499,886	493,690
Loans pledged in association with Mortgage Partnership Finance Program	355	355
FRB Discount Window
BORROWINGS
Borrowings	0	0
Securities pledged, served as collateral	$ 479	$ 499

SUBORDINATED NOTES (Details)

SUBORDINATED NOTES (Details) - Subordinated Notes - USD ($) $ in Thousands	Sep. 03, 2020	Mar. 31, 2021	Dec. 31, 2020
JUNIOR SUBORDINATED DEBENTURES ISSUED TO CAPITAL TRUSTS
Face amount	$ 40,000	$ 40,000	$ 40,000
Debt issuance costs	$ 789
Amortization period of debt issuance costs	10 years
Qualifies as Tier 2 capital		100.00%	100.00%
First five years
JUNIOR SUBORDINATED DEBENTURES ISSUED TO CAPITAL TRUSTS
Fixed interest rate	4.50%
Subsequent five years \| SOFR
JUNIOR SUBORDINATED DEBENTURES ISSUED TO CAPITAL TRUSTS
Spread on interest rate basis	4.37%

SUBORDINATED NOTES - Summary (D

SUBORDINATED NOTES - Summary (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020	Sep. 03, 2020
JUNIOR SUBORDINATED DEBENTURES ISSUED TO CAPITAL TRUSTS
Total junior subordinated debentures, at carrying value	$ 39,257	$ 39,238
Subordinated Notes
JUNIOR SUBORDINATED DEBENTURES ISSUED TO CAPITAL TRUSTS
Face amount	40,000	40,000	$ 40,000
Unamortized issuance costs	(743)	(762)
Total junior subordinated debentures, at carrying value	$ 39,257	$ 39,238

JUNIOR SUBORDINATED DEBENTURE_3

JUNIOR SUBORDINATED DEBENTURES ISSUED TO CAPITAL TRUSTS - Carrying Values (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)subsidiary	Dec. 31, 2020USD ($)
JUNIOR SUBORDINATED DEBENTURES ISSUED TO CAPITAL TRUSTS
Number of subsidiary business trusts \| subsidiary	5
Total junior subordinated debentures, at carrying value	$ 39,257	$ 39,238
Junior Subordinated Debentures Issued
JUNIOR SUBORDINATED DEBENTURES ISSUED TO CAPITAL TRUSTS
Face amount	38,765	38,765
Total junior subordinated debentures, at carrying value	37,665	37,648
Junior Subordinated Debentures Issued \| Heartland Bancorp, Inc. Capital Trust B
JUNIOR SUBORDINATED DEBENTURES ISSUED TO CAPITAL TRUSTS
Face amount	10,310	10,310
Junior Subordinated Debentures Issued \| Heartland Bancorp, Inc. Capital Trust C
JUNIOR SUBORDINATED DEBENTURES ISSUED TO CAPITAL TRUSTS
Face amount	10,310	10,310
Junior Subordinated Debentures Issued \| Heartland Bancorp, Inc. Capital Trust D
JUNIOR SUBORDINATED DEBENTURES ISSUED TO CAPITAL TRUSTS
Face amount	5,155	5,155
Junior Subordinated Debentures Issued \| FFBI Capital Trust I
JUNIOR SUBORDINATED DEBENTURES ISSUED TO CAPITAL TRUSTS
Face amount	7,217	7,217
Junior Subordinated Debentures Issued \| National Bancorp Statutory Trust I
JUNIOR SUBORDINATED DEBENTURES ISSUED TO CAPITAL TRUSTS
Face amount	5,773	5,773
Unamortized discount	$ (1,100)	$ (1,117)

JUNIOR SUBORDINATED DEBENTURE_4

JUNIOR SUBORDINATED DEBENTURES ISSUED TO CAPITAL TRUSTS - Interest rate and maturities (Details) - Junior Subordinated Debentures Issued	3 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Heartland Bancorp, Inc. Capital Trust B
JUNIOR SUBORDINATED DEBENTURES ISSUED TO CAPITAL TRUSTS
Interest Rate	2.99%	2.99%
Heartland Bancorp, Inc. Capital Trust B \| LIBOR
JUNIOR SUBORDINATED DEBENTURES ISSUED TO CAPITAL TRUSTS
Spread on interest rate basis	2.75%
Heartland Bancorp, Inc. Capital Trust C
JUNIOR SUBORDINATED DEBENTURES ISSUED TO CAPITAL TRUSTS
Interest Rate	1.71%	1.75%
Heartland Bancorp, Inc. Capital Trust C \| LIBOR
JUNIOR SUBORDINATED DEBENTURES ISSUED TO CAPITAL TRUSTS
Spread on interest rate basis	1.53%
Heartland Bancorp, Inc. Capital Trust D
JUNIOR SUBORDINATED DEBENTURES ISSUED TO CAPITAL TRUSTS
Interest Rate	1.53%	1.57%
Heartland Bancorp, Inc. Capital Trust D \| LIBOR
JUNIOR SUBORDINATED DEBENTURES ISSUED TO CAPITAL TRUSTS
Spread on interest rate basis	1.35%
FFBI Capital Trust I
JUNIOR SUBORDINATED DEBENTURES ISSUED TO CAPITAL TRUSTS
Interest Rate	3.04%	3.04%
FFBI Capital Trust I \| LIBOR
JUNIOR SUBORDINATED DEBENTURES ISSUED TO CAPITAL TRUSTS
Spread on interest rate basis	2.80%
National Bancorp Statutory Trust I
JUNIOR SUBORDINATED DEBENTURES ISSUED TO CAPITAL TRUSTS
Interest Rate	3.08%	3.12%
National Bancorp Statutory Trust I \| LIBOR
JUNIOR SUBORDINATED DEBENTURES ISSUED TO CAPITAL TRUSTS
Spread on interest rate basis	2.90%

JUNIOR SUBORDINATED DEBENTURE_5

JUNIOR SUBORDINATED DEBENTURES ISSUED TO CAPITAL TRUSTS - Narrative (Details) - period	3 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
JUNIOR SUBORDINATED DEBENTURES ISSUED TO CAPITAL TRUSTS
Trust preferred securities qualified as Tier 1 capital	100.00%	100.00%
Junior Subordinated Debentures Issued
JUNIOR SUBORDINATED DEBENTURES ISSUED TO CAPITAL TRUSTS
Maximum deferred interest period quarters	20
Period shorten the maturity date from the event	90 days

DERIVATIVE FINANCIAL INSTRUME_3

DERIVATIVE FINANCIAL INSTRUMENTS (Details) - USD ($)	Mar. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
DERIVATIVE FINANCIAL INSTRUMENTS
Cash pledged	$ 1,310,000	$ 1,630,000
Securities pledged	$ 9,974,000	$ 15,490,000
Interest rate swap \| Cash flow hedge \| Variable-rate borrowings
DERIVATIVE FINANCIAL INSTRUMENTS
Notional amount			$ 10,000,000

DERIVATIVE FINANCIAL INSTRUME_4

DERIVATIVE FINANCIAL INSTRUMENTS - Derivative instrument assets and liabilities (Details) - Designated - Interest rate swap - Cash flow hedge - Other liabilities - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
DERIVATIVE FINANCIAL INSTRUMENTS
Derivative financial liability fair value	$ (1,140)	$ (1,458)
Derivative financial liability notional amount	$ 17,000	$ 17,000

DERIVATIVE FINANCIAL INSTRUME_5

DERIVATIVE FINANCIAL INSTRUMENTS - Interest rate contracts designated as cash flow hedges (Details) - Cash flow hedge - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
DERIVATIVE FINANCIAL INSTRUMENTS
Amounts of gross gain (loss) reclassified from accumulated other comprehensive income	$ (99)	$ (2)
Taxable loan interest income
DERIVATIVE FINANCIAL INSTRUMENTS
Amounts of gross gain (loss) reclassified from accumulated other comprehensive income		32
Subordinated debentures interest expense
DERIVATIVE FINANCIAL INSTRUMENTS
Amounts of gross gain (loss) reclassified from accumulated other comprehensive income	$ (99)	$ (34)

DERIVATIVE FINANCIAL INSTRUME_6

DERIVATIVE FINANCIAL INSTRUMENTS - Interest rate contracts not designated as hedging instruments (Details) - Not designated - Interest rate swap - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
DERIVATIVE FINANCIAL INSTRUMENTS
Gross gains	$ 7,564	$ 13,571
Gross losses	(7,564)	$ (13,571)
Other assets
DERIVATIVE FINANCIAL INSTRUMENTS
Derivative asset notional amount	119,370		$ 122,313
Derivative financial assets fair value	8,560		15,360
Other assets \| Commercial Borrower
DERIVATIVE FINANCIAL INSTRUMENTS
Derivative asset notional amount	115,378		122,313
Derivative financial assets fair value	8,496		15,360
Other assets \| Financial Institutions Borrower
DERIVATIVE FINANCIAL INSTRUMENTS
Derivative asset notional amount	3,992
Derivative financial assets fair value	64
Other liabilities
DERIVATIVE FINANCIAL INSTRUMENTS
Derivative liability notional amount	119,370		122,313
Derivative financial liabilities fair value	(8,560)		(15,360)
Other liabilities \| Commercial Borrower
DERIVATIVE FINANCIAL INSTRUMENTS
Derivative liability notional amount	3,992
Derivative financial liabilities fair value	64
Other liabilities \| Financial Institutions Borrower
DERIVATIVE FINANCIAL INSTRUMENTS
Derivative liability notional amount	115,378		122,313
Derivative financial liabilities fair value	$ (8,496)		$ (15,360)

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE INCOME (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
ACCUMULATED OTHER COMPREHENSIVE INCOME
Balance	$ 363,917	$ 332,918
Other comprehensive income (loss), before tax	(22,724)	6,625
Income tax expense (benefit)	(6,477)	1,888
Other comprehensive income (loss), after tax	(16,247)	4,737
Balance	357,406	339,813
Accumulated Other Comprehensive Income (Loss)
ACCUMULATED OTHER COMPREHENSIVE INCOME
Balance	18,153	7,832
Other comprehensive income (loss) before reclassifications	(22,855)	6,632
Reclassifications	131	(7)
Other comprehensive income (loss), before tax	(22,724)	6,625
Income tax expense (benefit)	(6,477)	1,888
Other comprehensive income (loss), after tax	(16,247)	4,737
Balance	1,906	12,569
Unrealized gains (losses) on available-for-sale securities
ACCUMULATED OTHER COMPREHENSIVE INCOME
Balance	19,578	8,659
Transfer from available-for-sale to held-to-maturity	3,890
Other comprehensive income (loss) before reclassifications	(23,074)	7,602
Other comprehensive income (loss), before tax	(23,074)	7,602
Income tax expense (benefit)	(6,577)	2,166
Other comprehensive income (loss), after tax	(16,497)	5,436
Balance	6,971	14,095
Unrealized gains (losses) on held-to-maturity securities
ACCUMULATED OTHER COMPREHENSIVE INCOME
Balance	(118)	(131)
Transfer from available-for-sale to held-to-maturity	(3,890)
Reclassifications	32	(9)
Other comprehensive income (loss), before tax	32	(9)
Income tax expense (benefit)	9	(2)
Other comprehensive income (loss), after tax	23	(7)
Balance	(3,985)	(138)
Derivatives
ACCUMULATED OTHER COMPREHENSIVE INCOME
Balance	(1,307)	(696)
Other comprehensive income (loss) before reclassifications	219	(970)
Reclassifications	99	2
Other comprehensive income (loss), before tax	318	(968)
Income tax expense (benefit)	91	(276)
Other comprehensive income (loss), after tax	227	(692)
Balance	$ (1,080)	$ (1,388)

INCOME TAXES - Allocation (Deta

INCOME TAXES - Allocation (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Current
Federal	$ 3,170	$ 1,721
State	1,698	988
Total current	4,868	2,709
Deferred
Federal	457	(457)
State	228	(221)
Total deferred	685	(678)
Income tax expense	$ 5,553	$ 2,031

INCOME TAXES - Federal income t

INCOME TAXES - Federal income tax (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Federal income tax expense:
Federal income tax, at statutory rate	$ 4,368	$ 1,733
Federal income tax, at statutory rate (as a percent)	21.00%	21.00%
Increase (decrease) resulting from:
Federally tax exempt interest income	$ (367)	$ (357)
Federally tax exempt interest income (as a percent)	(1.80%)	(4.30%)
State taxes, net of federal benefit	$ 1,514	$ 631
State taxes, net of federal benefit (as a percent)	7.30%	7.60%
Other	$ 38	$ 24
Other (as a percent)	0.20%	0.30%
Income tax expense	$ 5,553	$ 2,031
Total (as a percent)	26.70%	24.60%

INCOME TAXES - Components of ne

INCOME TAXES - Components of net deferred tax asset (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Deferred tax assets
Allowance for loan losses	$ 8,170	$ 9,046
Compensation related	1,802	2,301
Deferred loan fees	2,470	1,595
Nonaccrual interest	646	660
Foreclosed assets	59	45
Goodwill	287	336
Other	1,049	1,011
Total deferred tax assets	14,483	14,994
Deferred tax liabilities
Fixed asset depreciation	4,368	4,361
Mortgage servicing rights	2,175	1,692
Other purchase accounting adjustments	1,080	1,115
Intangible assets	521	580
Prepaid assets	557	685
Net unrealized gain on debt securities	1	6,569
Other	367	370
Total deferred tax liabilities	9,069	15,372
Net deferred tax asset (liability)		$ (378)
Net deferred tax asset (liability)	$ 5,414

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Numerator:
Net income	$ 15,245	$ 6,221
Earnings allocated to unvested restricted stock units	(31)	(15)
Numerator for earnings per share - basic	$ 15,214	$ 6,206
Denominator:
Weighted average common shares outstanding	27,430,912	27,457,306
Dilutive effect of outstanding restricted stock units	2,489
Weighted average common shares outstanding, including all dilutive potential shares	27,433,401	27,457,306
Earnings per share - Basic	$ 0.55	$ 0.23
Earnings per share - Diluted	$ 0.55	$ 0.23

DEFERRED COMPENSATION (Details)

DEFERRED COMPENSATION (Details) - SERP - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
DEFERRED COMPENSATION
Period over which SERP benefit payments to be paid	30 years
Deferred compensation expense		$ 970

STOCK-BASED COMPENSATION PLAN_2

STOCK-BASED COMPENSATION PLANS (Details) $ / shares in Units, $ in Thousands	Feb. 19, 2021USD ($)$ / sharesshares	Mar. 31, 2021USD ($)iteminstallment$ / shares	Mar. 31, 2020USD ($)$ / shares	Dec. 31, 2020USD ($)	Oct. 09, 2019shares
STOCK-BASED COMPENSATION PLANS
Total stock-based compensation expense (benefit)		$ 259	$ (268)
Number of shares participant is entitled to receive \| item		1
Restricted Stock Units
STOCK-BASED COMPENSATION PLANS
Total stock-based compensation expense (benefit)		$ 114	$ 67
Granted (in dollars per unit) \| $ / shares		$ 15.53	$ 19.03
Unrecognized compensation cost related to non-vested stock-based compensation agreements		$ 1,602
Restricted Stock Units \| Key employees
STOCK-BASED COMPENSATION PLANS
Shares granted \| shares	43,047
Vesting period	3 years
Restricted Stock Units \| Non employee directors
STOCK-BASED COMPENSATION PLANS
Shares granted \| shares	3,300
Fair value of units granted	$ 720
Granted (in dollars per unit) \| $ / shares	$ 15.53
Performance restricted stock units
STOCK-BASED COMPENSATION PLANS
Total stock-based compensation expense (benefit)		$ 15
Granted (in dollars per unit) \| $ / shares		$ 15.53
Unrecognized compensation cost related to non-vested stock-based compensation agreements		$ 390
Performance restricted stock units \| Key employees
STOCK-BASED COMPENSATION PLANS
Shares granted \| shares	28,697
Vesting period	3 years
Fair value of units granted	$ 405
Granted (in dollars per unit) \| $ / shares	$ 15.53
Performance restricted stock units \| Minimum \| Key employees
STOCK-BASED COMPENSATION PLANS
Percentage of the number of units granted that may be earned	0.00%
Performance restricted stock units \| Maximum \| Key employees
STOCK-BASED COMPENSATION PLANS
Percentage of the number of units granted that may be earned	150.00%
Total awards classified as equity
STOCK-BASED COMPENSATION PLANS
Total stock-based compensation expense (benefit)		129	$ 67
Stock Appreciation Rights
STOCK-BASED COMPENSATION PLANS
Total stock-based compensation expense (benefit)		130	$ (335)
Unrecognized compensation cost related to non-vested stock-based compensation agreements		$ 67
Number of installments \| installment		4
Stock appreciation rights plan liability recorded for the outstanding units		$ 402		$ 272
Stock appreciation rights plan liability recorded for the previously exercised units		$ 797		$ 1,087
Number of equal annual installments in which the liability recorded for previously exercised units will be paid \| installment		3
Omnibus Incentive Plan
STOCK-BASED COMPENSATION PLANS
Authorized number of shares \| shares					1,820,000

STOCK-BASED COMPENSATION PLAN_3

STOCK-BASED COMPENSATION PLANS - Summary (Details) - $ / shares	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Restricted Stock Units
Stock-based compensation plans
Outstanding (in units)	71,000
Granted (in units)	46,347	73,150
Vested (in units)	(20,225)
Outstanding (in units)	97,122	73,150
Weighted Average Grant Date Assigned Value
Outstanding (in dollars per unit)	$ 18.98
Granted (in dollars per unit)	15.53	$ 19.03
Vested (in dollars per unit)	18.86
Outstanding (in dollars per unit)	$ 17.36	$ 19.03
Restricted Stock Units \| $ 15.53
Stock-based compensation plans
Outstanding (in units)	46,347
Weighted Average Grant Date Assigned Value
Outstanding (in dollars per unit)	$ 15.53
Weighted average remaining contractual term	2 years 9 months 18 days
Restricted Stock Units \| $19.03
Stock-based compensation plans
Outstanding (in units)	50,775
Weighted Average Grant Date Assigned Value
Outstanding (in dollars per unit)	$ 19.03
Weighted average remaining contractual term	2 years 9 months 18 days
Performance restricted stock units
Stock-based compensation plans
Granted (in units)	43,046
Outstanding (in units)	43,046
Weighted Average Grant Date Assigned Value
Granted (in dollars per unit)	$ 15.53
Outstanding (in dollars per unit)	$ 15.53
Performance restricted stock units \| $ 15.53
Stock-based compensation plans
Outstanding (in units)	43,046
Weighted Average Grant Date Assigned Value
Outstanding (in dollars per unit)	$ 15.53
Weighted average remaining contractual term	2 years 10 months 24 days
Stock Appreciation Rights
Stock-based compensation plans
Outstanding (in units)	105,570	110,160
Granted (in units)
Expired (in units)	(1,530)
Outstanding (in units)	104,040	110,160
Exercisable (in shares)	85,680
Weighted Average Grant Date Assigned Value
Outstanding (in dollars per unit)	$ 16.32	$ 16.32
Expired (in dollars per unit)	(16.32)
Outstanding (in dollars per unit)	$ 16.32	$ 16.32
Weighted average remaining contractual term	7 years 10 months 24 days

STOCK-BASED COMPENSATION PLAN_4

STOCK-BASED COMPENSATION PLANS - Summary of assumptions used (Details) - Stock Appreciation Rights	3 Months Ended	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	1.55%	0.80%
Expected volatility	34.96%	34.72%
Expected life (in years)	8 years 4 months 24 days	8 years 8 months 12 days
Expected dividend yield	3.50%	3.96%

REGULATORY MATTERS (Details)

REGULATORY MATTERS (Details) $ in Thousands	Mar. 31, 2021USD ($)	Dec. 31, 2020USD ($)
REGULATORY MATTERS
Total Capital (to Risk Weighted Assets), For Capital Adequacy Purposes Ratio (as a percent)	2.5	2.5
Heartland Bank and Trust Company
REGULATORY MATTERS
Total Capital (to Risk Weighted Assets), Actual Amount	$ 397,098	$ 382,511
Total Capital (to Risk Weighted Assets), For Capital Adequacy Purposes Amount	199,847	195,787
Total Capital (to Risk Weighted Assets), To Be Well Capitalized Under Prompt Corrective Action Provisions Amount	249,809	244,733
Tier 1 Capital (to Risk Weighted Assets), Actual Amount	368,339	351,904
Tier 1 Capital (to Risk Weighted Assets), For Capital Adequacy Purposes Amount	149,885	146,840
Tier 1 Capital (to Risk Weighted Assets), To Be Well Capitalized Under Prompt Corrective Action Provisions Amount	199,847	195,787
Common Equity Tier 1 Capital (to Risk Weighted Assets), Actual Amount	368,339	351,904
Common Equity Tier 1 Capital (to Risk Weighted Assets), For Capital Adequacy Purposes Amount	112,414	110,130
Common Equity Tier 1 Capital (to Risk Weighted Assets), To Be Well Capitalized Under Prompt Corrective Action Provisions Amount	162,376	159,077
Tier 1 Capital (to Average Assets), Actual Amount	368,339	351,904
Tier 1 Capital (to Average Assets), For Capital Adequacy Purposes Amount	148,616	143,296
Tier 1 Capital (to Average Assets), To Be Well Capitalized Under Prompt Corrective Action Provisions Amount	$ 185,770	$ 179,120
Total Capital (to Risk Weighted Assets), Actual Ratio (as a percent)	15.90	15.63
Total Capital (to Risk Weighted Assets), For Capital Adequacy Purposes Ratio (as a percent)	8	8
Total Capital (to Risk Weighted Assets), To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio (as a percent)	10	10
Tier 1 Capital (to Risk Weighted Assets), Actual Ratio (as a percent)	14.74	14.38
Tier 1 Capital (to Risk Weighted Assets), For Capital Adequacy Purposes Ratio (as a percent)	6	6
Tier 1 Capital (to Risk Weighted Assets), To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio (as a percent)	8	8
Common Equity Tier 1 Capital (to Risk Weighted Assets), Actual Ratio (as a percent)	14.74%	14.38%
Common Equity Tier 1 Capital (to Risk Weighted Assets), For Capital Adequacy Purposes Ratio (as a percent)	4.50%	4.50%
Common Equity Tier 1 Capital (to Risk Weighted Assets), To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio (as a percent)	6.50%	6.50%
Tier 1 Capital (to Average Assets), Actual Ratio (as a percent)	9.91	9.82
Tier 1 Capital (to Average Assets), For Capital Adequacy Purposes Ratio (as a percent)	4	4
Tier 1 Capital (to Average Assets), To Be well Capitalized Under Prompt Corrective Action Provisions Ratio (as a percent)	5	5
Consolidated HBT Financial, Inc.
REGULATORY MATTERS
Total Capital (to Risk Weighted Assets), Actual Amount	$ 434,408	$ 426,283
Total Capital (to Risk Weighted Assets), For Capital Adequacy Purposes Amount	200,018	195,970
Tier 1 Capital (to Risk Weighted Assets), Actual Amount	366,392	356,410
Tier 1 Capital (to Risk Weighted Assets), For Capital Adequacy Purposes Amount	150,014	146,977
Common Equity Tier 1 Capital (to Risk Weighted Assets), Actual Amount	329,892	319,927
Common Equity Tier 1 Capital (to Risk Weighted Assets), For Capital Adequacy Purposes Amount	112,510	110,233
Tier 1 Capital (to Average Assets), Actual Amount	366,392	356,410
Tier 1 Capital (to Average Assets), For Capital Adequacy Purposes Amount	$ 148,768	$ 143,454
Total Capital (to Risk Weighted Assets), Actual Ratio (as a percent)	17.37	17.40
Total Capital (to Risk Weighted Assets), For Capital Adequacy Purposes Ratio (as a percent)	8	8
Tier 1 Capital (to Risk Weighted Assets), Actual Ratio (as a percent)	14.65	14.55
Tier 1 Capital (to Risk Weighted Assets), For Capital Adequacy Purposes Ratio (as a percent)	6	6
Common Equity Tier 1 Capital (to Risk Weighted Assets), Actual Ratio (as a percent)	13.19%	13.06%
Common Equity Tier 1 Capital (to Risk Weighted Assets), For Capital Adequacy Purposes Ratio (as a percent)	4.50%	4.50%
Tier 1 Capital (to Average Assets), Actual Ratio (as a percent)	9.85	9.94
Tier 1 Capital (to Average Assets), For Capital Adequacy Purposes Ratio (as a percent)	4	4

FAIR VALUE OF FINANCIAL INSTR_3

FAIR VALUE OF FINANCIAL INSTRUMENTS - Recurring basis (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
FAIR VALUE OF FINANCIAL INSTRUMENTS
Transfer of assets from level 1 to level 2	$ 0	$ 0
Transfer of assets from level 2 to level 1	0	0
Transfer of assets in to level 3	0	0
Transfer of assets out of level 3	0	0
Transfer of liabilities from level 1 to level 2	0	0
Transfer of liabilities from level 2 to level 1	0	0
Transfer of liabilities in to level 3	0	0
Transfer of liabilities out of level 3	0	$ 0
Debt securities available-for-sale, at fair value	856,835		$ 922,869
Equity securities	3,332		3,292
Fair value	7,629		5,934
U.S. government agency
FAIR VALUE OF FINANCIAL INSTRUMENTS
Debt securities available-for-sale, at fair value	127,938		121,993
Municipal
FAIR VALUE OF FINANCIAL INSTRUMENTS
Debt securities available-for-sale, at fair value	282,333		274,261
Mortgage-backed: Agency residential
FAIR VALUE OF FINANCIAL INSTRUMENTS
Debt securities available-for-sale, at fair value	169,104		203,252
Mortgage-backed: Agency commercial
FAIR VALUE OF FINANCIAL INSTRUMENTS
Debt securities available-for-sale, at fair value	207,997		250,766
Corporate
FAIR VALUE OF FINANCIAL INSTRUMENTS
Debt securities available-for-sale, at fair value	69,463		72,597
Recurring
FAIR VALUE OF FINANCIAL INSTRUMENTS
Equity securities	3,332		3,292
Fair value	7,629		5,934
Derivative financial assets fair value	8,560		15,360
Derivative financial liabilities fair value	9,700		16,818
Recurring \| U.S. government agency
FAIR VALUE OF FINANCIAL INSTRUMENTS
Debt securities available-for-sale, at fair value	127,938		121,993
Recurring \| Municipal
FAIR VALUE OF FINANCIAL INSTRUMENTS
Debt securities available-for-sale, at fair value	282,333		274,261
Recurring \| Mortgage-backed: Agency residential
FAIR VALUE OF FINANCIAL INSTRUMENTS
Debt securities available-for-sale, at fair value	169,104		203,252
Recurring \| Mortgage-backed: Agency commercial
FAIR VALUE OF FINANCIAL INSTRUMENTS
Debt securities available-for-sale, at fair value	207,997		250,766
Recurring \| Corporate
FAIR VALUE OF FINANCIAL INSTRUMENTS
Debt securities available-for-sale, at fair value	69,463		72,597
Recurring \| Level 1
FAIR VALUE OF FINANCIAL INSTRUMENTS
Equity securities	3,332		3,292
Recurring \| Level 2
FAIR VALUE OF FINANCIAL INSTRUMENTS
Derivative financial assets fair value	8,560		15,360
Derivative financial liabilities fair value	9,700		16,818
Recurring \| Level 2 \| U.S. government agency
FAIR VALUE OF FINANCIAL INSTRUMENTS
Debt securities available-for-sale, at fair value	127,938		121,993
Recurring \| Level 2 \| Municipal
FAIR VALUE OF FINANCIAL INSTRUMENTS
Debt securities available-for-sale, at fair value	282,333		274,261
Recurring \| Level 2 \| Mortgage-backed: Agency residential
FAIR VALUE OF FINANCIAL INSTRUMENTS
Debt securities available-for-sale, at fair value	169,104		203,252
Recurring \| Level 2 \| Mortgage-backed: Agency commercial
FAIR VALUE OF FINANCIAL INSTRUMENTS
Debt securities available-for-sale, at fair value	207,997		250,766
Recurring \| Level 2 \| Corporate
FAIR VALUE OF FINANCIAL INSTRUMENTS
Debt securities available-for-sale, at fair value	69,463		72,597
Recurring \| Level 3
FAIR VALUE OF FINANCIAL INSTRUMENTS
Fair value	$ 7,629		$ 5,934

FAIR VALUE OF FINANCIAL INSTR_4

FAIR VALUE OF FINANCIAL INSTRUMENTS - Mortgage Servicing Rights (Details) $ in Thousands	Mar. 31, 2021USD ($)	Dec. 31, 2020USD ($)
FAIR VALUE OF FINANCIAL INSTRUMENTS
Fair value	$ 7,629	$ 5,934
Recurring
FAIR VALUE OF FINANCIAL INSTRUMENTS
Fair value	7,629	5,934
Recurring \| Level 3
FAIR VALUE OF FINANCIAL INSTRUMENTS
Fair value	$ 7,629	$ 5,934
Valuation Technique	us-gaap:ValuationTechniqueDiscountedCashFlowMember	us-gaap:ValuationTechniqueDiscountedCashFlowMember
Recurring \| Level 3 \| Constant pre-payment rates (CPR)
FAIR VALUE OF FINANCIAL INSTRUMENTS
Fair value	$ 7,629	$ 5,934
Recurring \| Level 3 \| Constant pre-payment rates (CPR) \| Minimum
FAIR VALUE OF FINANCIAL INSTRUMENTS
Measurement input	7	7
Recurring \| Level 3 \| Constant pre-payment rates (CPR) \| Maximum
FAIR VALUE OF FINANCIAL INSTRUMENTS
Measurement input	85	85
Recurring \| Level 3 \| Constant pre-payment rates (CPR) \| Weighted average
FAIR VALUE OF FINANCIAL INSTRUMENTS
Measurement input	12.3	17.3
Recurring \| Level 3 \| Discount rate \| Minimum
FAIR VALUE OF FINANCIAL INSTRUMENTS
Measurement input	8.8	9
Recurring \| Level 3 \| Discount rate \| Maximum
FAIR VALUE OF FINANCIAL INSTRUMENTS
Measurement input	11	11
Recurring \| Level 3 \| Discount rate \| Weighted average
FAIR VALUE OF FINANCIAL INSTRUMENTS
Measurement input	9	9

FAIR VALUE OF FINANCIAL INSTR_5

FAIR VALUE OF FINANCIAL INSTRUMENTS - Nonrecurring Basis (Details) - Nonrecurring - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
FAIR VALUE OF FINANCIAL INSTRUMENTS
Loans held for sale	$ 12,882	$ 14,713
Collateral-dependent impaired loans	30,579	33,320
Bank premises held for sale	121	121
Foreclosed assets	4,748	4,168
Level 2
FAIR VALUE OF FINANCIAL INSTRUMENTS
Loans held for sale	12,882	14,713
Level 3
FAIR VALUE OF FINANCIAL INSTRUMENTS
Collateral-dependent impaired loans	30,579	33,320
Bank premises held for sale	121	121
Foreclosed assets	$ 4,748	$ 4,168

FAIR VALUE OF FINANCIAL INSTR_6

FAIR VALUE OF FINANCIAL INSTRUMENTS - Unobservable inputs used in nonrecurring measurements (Details) - Nonrecurring - Level 3 $ in Thousands	Mar. 31, 2021USD ($)	Dec. 31, 2020USD ($)
Collateral-dependent impaired loans
FAIR VALUE OF FINANCIAL INSTRUMENTS
Alternative Investment, Measurement Input [Extensible List]	hbt:AppraisalAdjustmentsMember	hbt:AppraisalAdjustmentsMember
Collateral-dependent impaired loans \| Appraisal of collateral
FAIR VALUE OF FINANCIAL INSTRUMENTS
Fair Value	$ 30,579	$ 33,320
Bank premises held for sale
FAIR VALUE OF FINANCIAL INSTRUMENTS
Alternative Investment, Measurement Input [Extensible List]	hbt:AppraisalAdjustmentsMember	hbt:AppraisalAdjustmentsMember
Bank premises held for sale \| Appraisal
FAIR VALUE OF FINANCIAL INSTRUMENTS
Fair Value	$ 121	$ 121
Measurement input	7	7
Bank premises held for sale \| Appraisal \| Weighted average
FAIR VALUE OF FINANCIAL INSTRUMENTS
Measurement input	7	7
Foreclosed assets
FAIR VALUE OF FINANCIAL INSTRUMENTS
Alternative Investment, Measurement Input [Extensible List]	hbt:AppraisalAdjustmentsMember	hbt:AppraisalAdjustmentsMember
Foreclosed assets \| Appraisal
FAIR VALUE OF FINANCIAL INSTRUMENTS
Fair Value	$ 4,748	$ 4,168
Measurement input	7	7
Foreclosed assets \| Appraisal \| Weighted average
FAIR VALUE OF FINANCIAL INSTRUMENTS
Measurement input	7	7

FAIR VALUE OF FINANCIAL INSTR_7

FAIR VALUE OF FINANCIAL INSTRUMENTS - Carrying amount and estimated fair value (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Financial assets:
Debt securities held-to-maturity	$ 195,608	$ 72,441
Level 1 \| Carrying Amount
Financial assets:
Cash and cash equivalents	429,736	312,451
Level 1 \| Estimated Fair Value
Financial assets:
Cash and cash equivalents	429,736	312,451
Level 2 \| Carrying Amount
Financial assets:
Debt securities held-to-maturity	192,994	68,395
Accrued interest receivable	12,718	14,255
Financial liabilities:
Securities sold under agreements to repurchase	41,976	45,736
Accrued interest payable	551	1,151
Level 2 \| Estimated Fair Value
Financial assets:
Debt securities held-to-maturity	195,608	72,441
Accrued interest receivable	12,718	14,255
Financial liabilities:
Securities sold under agreements to repurchase	41,976	45,736
Accrued interest payable	551	1,151
Level 3 \| Carrying Amount
Financial assets:
Restricted stock	2,498	2,498
Loans, net	2,241,946	2,215,168
Investments in unconsolidated subsidiaries	1,165	1,165
Financial liabilities:
Time deposits	285,461	299,474
Level 3 \| Estimated Fair Value
Financial assets:
Restricted stock	2,498	2,498
Loans, net	2,264,145	2,235,767
Investments in unconsolidated subsidiaries	1,165	1,165
Financial liabilities:
Time deposits	286,430	300,989
Subordinated Notes \| Level 3 \| Carrying Amount
Financial liabilities:
Subordinated debt	39,257	39,238
Subordinated Notes \| Level 3 \| Estimated Fair Value
Financial liabilities:
Subordinated debt	38,162	38,403
Junior Subordinated Debentures Issued \| Level 3 \| Carrying Amount
Financial liabilities:
Subordinated debt	37,665	37,648
Junior Subordinated Debentures Issued \| Level 3 \| Estimated Fair Value
Financial liabilities:
Subordinated debt	$ 23,528	$ 23,766

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Standby letters of credit
COMMITMENTS AND CONTINGENCIES
Financial instruments off-balance sheet credit risks	$ 10,235	$ 10,031
Commitments to extend credit
COMMITMENTS AND CONTINGENCIES
Financial instruments off-balance sheet credit risks	$ 523,646	$ 530,191