HBT Financial (HBT) 10-Q8 Nov 222022 Q3 Quarterly reportFinancial data

Company Profile

DOCUMENT AND ENTITY INFORMATION

DOCUMENT AND ENTITY INFORMATION - shares	9 Months Ended
DOCUMENT AND ENTITY INFORMATION - shares	Sep. 30, 2022	Nov. 02, 2022
DOCUMENT AND ENTITY INFORMATION
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2022
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	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		28,752,626
Entity Central Index Key	0000775215
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Amendment Flag	false

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
ASSETS
Cash and due from banks	$ 22,169	$ 23,387
Interest-bearing deposits with banks	56,046	385,881
Cash and cash equivalents	78,215	409,268
Interest-bearing time deposits with banks		490
Debt securities available-for-sale, at fair value	853,740	942,168
Debt securities held-to-maturity (fair value of $481,692 in 2022 and $336,027 in 2021)	546,694	336,185
Equity securities with readily determinable fair value	2,996	3,443
Equity securities with no readily determinable fair value	1,977	1,927
Restricted stock, at cost	4,050	2,739
Loans held for sale	2,297	4,942
Loans, before allowance for loan losses	2,579,928	2,499,689
Allowance for loan losses	(25,060)	(23,936)
Loans, net of allowance for loan losses	2,554,868	2,475,753
Bank owned life insurance	7,515	7,393
Bank premises and equipment, net	50,854	52,483
Bank premises held for sale	281	1,452
Foreclosed assets	2,637	3,278
Goodwill	29,322	29,322
Core deposit intangible assets, net	1,210	1,943
Mortgage servicing rights, at fair value	10,440	7,994
Investments in unconsolidated subsidiaries	1,165	1,165
Accrued interest receivable	16,881	14,901
Other assets	48,182	17,408
Total assets	4,213,324	4,314,254
Deposits:
Noninterest-bearing	1,017,710	1,087,659
Interest-bearing	2,625,733	2,650,526
Total deposits	3,643,443	3,738,185
Securities sold under agreements to repurchase	48,130	61,256
Federal Home Loan Bank advances	60,000
Subordinated notes	39,376	39,316
Junior subordinated debentures issued to capital trusts	37,763	37,714
Other liabilities	25,539	25,902
Total liabilities	3,854,251	3,902,373
COMMITMENTS AND CONTINGENCIES (Note 14)
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 29,308,491 at 2022 and 29,276,547 at 2021; shares outstanding of 28,752,626 at 2022 and 28,986,061 at 2021	293	293
Surplus	222,436	220,891
Retained earnings	223,495	194,132
Accumulated other comprehensive income (loss)	(77,462)	1,471
Treasury stock at cost, 555,865 shares at 2022 and 290,486 at 2021	(9,689)	(4,906)
Total stockholders' equity	359,073	411,881
Total liabilities and stockholders' equity	$ 4,213,324	$ 4,314,254

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Stockholders' Equity
Debt securities held-to-maturity	$ 481,692	$ 336,027
Allowance for loan losses	$ 25,060	$ 23,936
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	29,308,491	29,276,547
Common stock, shares outstanding	28,752,626	28,986,061
Treasury stock ,shares	555,865	290,486

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Loans, including fees:
Taxable	$ 29,855	$ 25,604	$ 84,504	$ 76,016
Federally tax exempt	842	572	2,183	1,722
Securities:
Taxable	6,635	4,632	16,947	12,323
Federally tax exempt	1,207	1,103	3,385	3,383
Interest-bearing deposits in bank	458	190	1,037	385
Other interest and dividend income	17	14	50	39
Total interest and dividend income	39,014	32,115	108,106	93,868
INTEREST EXPENSE
Deposits	587	564	1,662	1,821
Securities sold under agreements to repurchase	9	8	26	23
Borrowings	85	1	87	2
Subordinated notes	470	470	1,409	1,409
Junior subordinated debentures issued to capital trusts	473	357	1,231	1,069
Total interest expense	1,624	1,400	4,415	4,324
Net interest income	37,390	30,715	103,691	89,544
PROVISION FOR LOAN LOSSES	386	(1,667)	(53)	(7,234)
Net interest income after provision for loan losses	37,004	32,382	103,744	96,778
NONINTEREST INCOME
Mortgage servicing	697	699	2,016	2,095
Mortgage servicing rights fair value adjustment	351	40	2,446	1,425
Gains on sale of mortgage loans	354	1,257	1,267	4,919
Unrealized gains (losses) on equity securities	(107)	28	(447)	74
Gains (losses) on foreclosed assets	(225)	(14)	(192)	126
Gains (losses) on other assets	(31)	(672)	119	(719)
Income on bank owned life insurance	41		122
Other noninterest income	599	832	1,769	2,461
Total noninterest income	8,234	8,392	26,828	27,974
NONINTEREST EXPENSE
Salaries	12,752	11,835	38,489	36,486
Employee benefits	1,771	1,455	6,199	4,549
Occupancy of bank premises	1,979	1,610	5,780	5,011
Furniture and equipment	668	657	1,843	1,883
Data processing	1,631	1,767	5,274	5,176
Marketing and customer relations	880	883	2,936	2,291
Amortization of intangible assets	243	252	733	799
FDIC insurance	302	279	888	763
Loan collection and servicing	336	400	771	1,098
Foreclosed assets	97	242	260	704
Other noninterest expense	3,339	2,787	8,824	8,105
Total noninterest expense	23,998	22,167	71,997	66,865
INCOME BEFORE INCOME TAX EXPENSE	21,240	18,607	58,575	57,887
INCOME TAX EXPENSE	5,613	4,892	15,259	15,210
NET INCOME	$ 15,627	$ 13,715	$ 43,316	$ 42,677
EARNINGS PER SHARE - BASIC	$ 0.54	$ 0.50	$ 1.50	$ 1.56
EARNINGS PER SHARE - DILUTED	$ 0.54	$ 0.50	$ 1.49	$ 1.56
WEIGHTED AVERAGE SHARES OF COMMON STOCK OUTSTANDING - Basic	28,787,662	27,340,926	28,887,757	27,377,809
WEIGHTED AVERAGE SHARES OF COMMON STOCK OUTSTANDING - Diluted	28,860,305	27,354,847	28,944,518	27,389,221
Card income
NONINTEREST INCOME
Revenue	$ 2,569	$ 2,509	$ 7,687	$ 7,216
Service charges on deposit accounts
NONINTEREST INCOME
Revenue	1,927	1,677	5,371	4,364
Wealth management fees
NONINTEREST INCOME
Revenue	$ 2,059	$ 2,036	$ 6,670	$ 6,013

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
NET INCOME	$ 15,627	$ 13,715	$ 43,316	$ 42,677
OTHER COMPREHENSIVE LOSS
Unrealized losses on debt securities available-for-sale	(35,358)	(5,676)	(112,931)	(19,950)
Reclassification adjustment for amortization of net unrealized losses on debt securities transferred to held-to-maturity	504	195	1,234	426
Unrealized gains (losses) on derivative instruments	374	(8)	1,117	173
Reclassification adjustment for net settlements on derivative instruments	14	105	177	306
Total other comprehensive loss, before tax	(34,466)	(5,384)	(110,403)	(19,045)
Income tax benefit	(9,824)	(1,535)	(31,470)	(5,429)
Total other comprehensive loss	(24,642)	(3,849)	(78,933)	(13,616)
TOTAL COMPREHENSIVE (LOSS) INCOME	$ (9,015)	$ 9,866	$ (35,617)	$ 29,061

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, 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			42,677			42,677
Other comprehensive loss				(13,616)		(13,616)
Stock-based compensation		538				538
Issuance of common stock upon vesting of restricted stock units (in shares)	20,225
Repurchase of common stock					$ (2,323)	(2,323)
Repurchase of common stock (in shares)	(143,103)
Cash dividends and dividend equivalents			(12,372)			(12,372)
Balance at Sep. 30, 2021	$ 275	191,413	184,919	4,537	(2,323)	378,821
Balance (in shares) at Sep. 30, 2021	27,334,428
Balance at Jun. 30, 2021	$ 275	191,185	175,328	8,386	(1,980)	373,194
Balance (in shares) at Jun. 30, 2021	27,355,053
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income			13,715			13,715
Other comprehensive loss				(3,849)		(3,849)
Stock-based compensation		228				228
Repurchase of common stock					(343)	(343)
Repurchase of common stock (in shares)	(20,625)
Cash dividends and dividend equivalents			(4,124)			(4,124)
Balance at Sep. 30, 2021	$ 275	191,413	184,919	4,537	(2,323)	378,821
Balance (in shares) at Sep. 30, 2021	27,334,428
Balance at Dec. 31, 2021	$ 293	220,891	194,132	1,471	(4,906)	411,881
Balance (in shares) at Dec. 31, 2021	28,986,061
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income			43,316			43,316
Other comprehensive loss				(78,933)		(78,933)
Stock-based compensation		1,602				1,602
Issuance of common stock upon vesting of restricted stock units, net of tax withholdings		(57)				(57)
Issuance of common stock upon vesting of restricted stock units (in shares)	31,944
Repurchase of common stock					(4,783)	(4,783)
Repurchase of common stock (in shares)	(265,379)
Cash dividends and dividend equivalents			(13,953)			(13,953)
Balance at Sep. 30, 2022	$ 293	222,436	223,495	(77,462)	(9,689)	359,073
Balance (in shares) at Sep. 30, 2022	28,752,626
Balance at Jun. 30, 2022	$ 293	222,087	212,506	(52,820)	(8,257)	373,809
Balance (in shares) at Jun. 30, 2022	28,831,197
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income			15,627			15,627
Other comprehensive loss				(24,642)		(24,642)
Stock-based compensation		349				349
Repurchase of common stock					(1,432)	(1,432)
Repurchase of common stock (in shares)	(78,571)
Cash dividends and dividend equivalents			(4,638)			(4,638)
Balance at Sep. 30, 2022	$ 293	$ 222,436	$ 223,495	$ (77,462)	$ (9,689)	$ 359,073
Balance (in shares) at Sep. 30, 2022	28,752,626

CONSOLIDATED STATEMENTS OF CH_2

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Stock Transactions, Parenthetical Disclosures [Abstract]
Cash dividends	$ 0.16	$ 0.15	$ 0.48	$ 0.45

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 43,316	$ 42,677
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation expense	2,296	2,297
Provision for loan losses	(53)	(7,234)
Net amortization of debt securities	5,337	5,205
Deferred income tax (benefit) expense	(245)	2,409
Stock-based compensation	1,602	538
Net accretion of discount and deferred loan fees on loans	(4,320)	(9,529)
Net unrealized loss (gain) on equity securities	447	(74)
Net loss on disposals of bank premises and equipment	8	33
Net gain on sales of bank premises held for sale	(187)
Impairment losses on bank premises held for sale	61	652
Net gain on sales of foreclosed assets	(118)	(321)
Write-down of foreclosed assets	310	195
Amortization of intangibles	733	799
Increase in mortgage servicing rights	(2,446)	(1,425)
Amortization of discount and issuance costs on subordinated notes and debentures	109	109
Amortization of premium on interest-bearing time deposits with banks	5
Amortization of premium on time deposits	(164)
Mortgage loans originated for sale	(50,467)	(152,036)
Proceeds from sale of mortgage loans	54,379	163,086
Net gain on sale of mortgage loans	(1,267)	(4,919)
Increase in cash surrender value of bank owned life insurance	(122)
(Increase) Decrease in accrued interest receivable	(1,980)	879
Decrease in other assets	289	1,639
Increase (decrease) in other liabilities	1,583	(18,284)
Net cash provided by operating activities	49,106	26,696
CASH FLOWS FROM INVESTING ACTIVITIES
Proceeds from maturities of interest-bearing time deposits with banks	485
Proceeds from sales of securities available-for-sale	0	0
Proceeds from paydowns, maturities, and calls of debt securities	129,629	149,659
Purchase of securities	(368,794)	(398,387)
Net (increase) decrease in loans	(74,769)	104,376
Purchase of restricted stock	(1,311)	(241)
Purchases of bank premises and equipment	(683)	(773)
Proceeds from sales of bank premises and equipment	8	17
Proceeds from sales of bank premises held for sale	1,297
Proceeds from sales of foreclosed assets	476	1,583
Net cash used in investing activities	(313,662)	(143,766)
CASH FLOWS FROM FINANCING ACTIVITIES
Net (decrease) increase in deposits	(94,578)	289,022
Net (decrease) increase in repurchase agreements	(13,126)	2,221
Net increase in Federal Home Loan Bank advances	60,000
Taxes paid related to the vesting of restricted stock units	(57)
Repurchase of common stock	(4,783)	(2,323)
Cash dividends and dividend equivalents paid	(13,953)	(12,372)
Net cash (used in) provided by financing activities	(66,497)	276,548
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS	(331,053)	159,478
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR	409,268	312,451
CASH AND CASH EQUIVALENTS AT END OF PERIOD	78,215	471,929
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
Cash paid for interest	4,851	4,992
Cash paid for income taxes	13,805	17,295
SUPPLEMENTAL DISCLOSURES OF NONCASH INVESTING ACTIVITIES
Transfers of loans to foreclosed assets	$ 27	4,856
Sales of foreclosed assets through loan origination		252
Transfers of bank premises and equipment to bank premises held for sale		$ 1,345

ACCOUNTING POLICIES

ACCOUNTING POLICIES	9 Months Ended
ACCOUNTING POLICIES	Sep. 30, 2022
ACCOUNTING POLICIES
ACCOUNTING POLICIES	NOTE 1 – ACCOUNTING POLICIES Basis of Presentation HBT Financial, Inc. (“HBT Financial” or the “Company”) is headquartered in Bloomington, Illinois and is the holding company for Heartland Bank and Trust Company (“Heartland Bank” or the “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 and Eastern Iowa. Additionally, the Company is subject to the regulations of certain federal and state agencies and undergoes periodic examinations by those regulatory agencies. The unaudited consolidated financial statements, including the notes thereto, have been prepared in accordance with accounting principles generally accepted in the United States (“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 SEC. 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 for the year ended December 31, 2021, filed with the SEC on March 11, 2022. The unaudited consolidated financial statements include all 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 may remain an emerging growth company until the earliest to occur of: (1) the end of the fiscal year following the fifth anniversary of the completion of our initial public offering, which is December 31, 2024, (2) the last day of the fiscal year in which the Company has $1.07 billion or more in annual revenues, (3) the date on which the Company is deemed to be a “large accelerated filer” under the Securities Exchange Act of 1934, as amended, (the “Exchange Act”) or (4) the date on which the Company has, during the previous three year period, issued, publicly or privately, more than $1.0 billion in non-convertible debt securities. 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. Use of Estimates The accompanying consolidated financial statements have been prepared in conformity with GAAP. 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 and fair value of assets acquired and liabilities assumed in business combinations. Segment Reporting The Company’s operations consist of one reportable segment. The Company’s chief operating decision maker evaluates the operations of the Company using consolidated information for purposes of allocating resources and assessing performance. 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 The Company has formed an implementation team to assess the impact that ASU 2016-13 will have on the Company’s consolidated financial statements. For the majority of loans evaluated on a pooled basis, the Company anticipates using a discounted cash flow method which considers instrument level cash flows adjusted for, among other factors, prepayment speeds, probability of default, and loss given default. The Company also anticipates using regression analysis of historical internal and peer data to determine which variables are best suited to be economic variables utilized when modeling lifetime probability of default and loss given default. The ultimate impact to the Company’s financial condition and results of operations of ASU 2016-13, at both adoption and each subsequent reporting period, is highly dependent on credit quality, macroeconomic forecasts and conditions, the composition of our loan and securities portfolios, along with other management judgments. 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,

ACQUISITIONS

ACQUISITIONS	9 Months Ended
ACQUISITIONS	Sep. 30, 2022
ACQUISITIONS
ACQUISITIONS	NOTE 2 – ACQUISITIONS Town and Country Financial Corporation On August 23, 2022, HBT Financial and Town and Country Financial Corporation (“Town and Country”), the holding company for Town and Country Bank, jointly announced the signing of a merger agreement pursuant to which HBT Financial will acquire Town and Country and Town and Country Bank. The acquisition will further enhance HBT Financial’s footprint in Central Illinois and expand HBT Financial’s footprint into metro-east St. Louis. Under the terms of the merger agreement, total consideration consists of approximately 3.4 million shares of HBT Financial’s common stock and $38.0 million in cash. Town and Country shareholders may elect to receive either (i) 1.9010 shares of HBT Financial’s common stock for each share of Town and Country, or (ii) $35.66 per share in cash, or (iii) a combination of cash and stock consideration, subject to adjustment and to the election and proration provisions in the merger agreement. Based upon the closing price of HBT Financial common stock of $18.76 on August 22, 2022, the implied per share purchase price is $35.66 with an aggregate transaction value of approximately $101.4 million. Upon closing of the transaction, shareholders of Town and Country are expected to hold approximately 10.5% of HBT Financial’s outstanding common stock. The transaction is expected to close in the first quarter of 2023, subject to customary closing conditions, approval of Town and Country’s shareholders, and regulatory approvals. During the three months ended September 30, 2022, HBT Financial incurred $0.5 million in pre-tax acquisition expenses related to the planned acquisition of Town and Country, comprised of legal and professional fees included in other noninterest expense in the consolidated statements of income. NXT Bancorporation, Inc. On October 1, 2021, HBT Financial acquired 100% of the issued and outstanding common stock of NXT Bancorporation, Inc. (“NXT”), the holding company for NXT Bank, pursuant to an Agreement and Plan of Merger dated June 7, 2021. Under the Agreement and Plan of Merger, NXT merged with and into HBT Financial, with HBT Financial as the surviving entity, on October 1, 2021. Additionally, NXT Bank was merged with and into Heartland Bank, with Heartland Bank as the surviving entity, in December 2021. At the effective time of the merger, each share of NXT was converted into the right to receive 67.6783 shares of HBT Financial common stock, cash in lieu of fractional shares, and $400 in cash. There were 1,799,016 shares of HBT Financial common stock issued at the effective time of the acquisition with an aggregate market value of $29.3 million, based on the closing stock price of $16.27 on October 1, 2021. This transaction was accounted for using the acquisition method of accounting and, accordingly, assets acquired, liabilities assumed, and consideration exchanged were recorded at estimated fair values on the date of acquisition. Goodwill of $5.7 million was recorded in the acquisition, which reflects expected synergies from combining the operations of HBT Financial and NXT, and is nondeductible for tax purposes. The acquisition of NXT provided an opportunity to utilize Heartland Bank’s excess liquidity at the time of acquisition to replace NXT Bank’s higher-cost funding. Additionally, Heartland Bank’s broader range of products and services, as well as a greater ability to meet larger borrowing needs, has provided an opportunity to expand NXT Bank’s customer relationships. During the three and nine months ended September 30, 2021, HBT Financial incurred $0.4 million and $0.5 million, respectively, in pre-tax acquisition expenses related to the acquisition of NXT, comprised primarily of professional fees and data processing expense. These expenses are reflected in noninterest expense on the consolidated statements of income. There were no acquisition expenses related to the acquisition of NXT during the three and nine months ended September 30, 2022. The fair value of the assets acquired and liabilities assumed from NXT on the acquisition date were as follows (dollars in thousands): Fair Value Assets acquired: Cash and cash equivalents $ 5,862 Interest-bearing time deposits with banks 739 Debt securities 18,295 Equity securities with readily determinable fair value 43 Restricted stock 796 Loans 194,576 Bank owned life insurance 7,352 Bank premises and equipment 3,667 Core deposit intangible assets 199 Mortgage servicing rights 370 Accrued interest receivable 886 Other assets 1,340 Total assets acquired 234,125 Liabilities assumed: Deposits 181,586 Securities sold under agreements to repurchase 4,080 FHLB advances 12,625 Other liabilities 1,633 Total liabilities assumed 199,924 Net assets acquired $ 34,201 Consideration paid: Cash $ 10,633 Common stock 29,270 Total consideration paid $ 39,903 Goodwill $ 5,702 The following table presents the acquired non-impaired loans as of the acquisition date (dollars in thousands): Fair Value $ 194,576 Gross contractual amounts receivable 196,104 Estimate of contractual cash flows not expected to be collected 1,045 There were no loans acquired with deteriorated credit quality from NXT. The following table provides the pro forma information for the results of operations for the three and nine months ended September 30, 2021, as if the acquisition had occurred on January 1, 2020. The pro forma results combine the historical results of NXT into HBT Financial’s consolidated statements of income, including the impact of certain acquisition accounting adjustments, which include loan discount accretion, intangible assets amortization, deposit premium amortization, and borrowing premium amortization. The pro forma results have been prepared for comparative purposes only and are not necessarily indicative of the results that would have been obtained had the acquisition actually occurred on January 1, 2020. No assumptions have been applied to the pro forma results of operations regarding possible revenue enhancements, provision for loan losses, expense efficiencies or asset dispositions. The acquisition-related expenses that have been recognized are included in net income in the following table. Pro Forma Three Months Ended Nine Months Ended (dollars in thousands, except per share data) September 30, 2021 September 30, 2021 Total revenues (net interest income and noninterest income) $ 41,296 $ 124,460 Net income 14,093 44,285 Earnings per share - basic 0.48 1.52 Earnings per share - diluted 0.48 1.51

SECURITIES

SECURITIES	9 Months Ended
SECURITIES	Sep. 30, 2022
SECURITIES
SECURITIES	NOTE 3 – SECURITIES Debt Securities The amortized cost and fair values of debt securities, with gross unrealized gains and losses, are as follows: September 30, 2022 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Available-for-sale: (dollars in thousands) U.S. Treasury $ 169,895 $ — $ (16,323) $ 153,572 U.S. government agency 61,428 1 (4,406) 57,023 Municipal 279,711 4 (37,804) 241,911 Mortgage-backed: Agency residential 223,738 20 (18,851) 204,907 Agency commercial 154,677 1 (17,302) 137,376 Corporate 62,695 16 (3,760) 58,951 Total available-for-sale 952,144 42 (98,446) 853,740 Held-to-maturity: U.S. government agency 88,418 — (10,342) 78,076 Municipal 42,844 50 (1,357) 41,537 Mortgage-backed: Agency residential 105,330 — (6,491) 98,839 Agency commercial 310,102 — (46,862) 263,240 Total held-to-maturity 546,694 50 (65,052) 481,692 Total debt securities $ 1,498,838 $ 92 $ (163,498) $ 1,335,432 December 31, 2021 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Available-for-sale: (dollars in thousands) U.S. Treasury $ 109,002 $ 328 $ (354) $ 108,976 U.S. government agency 129,269 1,303 (2,467) 128,105 Municipal 293,837 6,144 (2,904) 297,077 Mortgage-backed: Agency residential 178,236 2,149 (919) 179,466 Agency commercial 164,875 1,234 (2,048) 164,061 Corporate 63,141 1,638 (296) 64,483 Total available-for-sale 938,360 12,796 (8,988) 942,168 Held-to-maturity: U.S. government agency 12,349 42 (51) 12,340 Municipal 15,666 809 — 16,475 Mortgage-backed: Agency residential 20,555 196 (102) 20,649 Agency commercial 287,615 1,749 (2,801) 286,563 Total held-to-maturity 336,185 2,796 (2,954) 336,027 Total debt securities $ 1,274,545 $ 15,592 $ (11,942) $ 1,278,195 On March 31, 2022, June 30, 2021, and 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: March 31, 2022 June 30, 2021 March 31, 2021 Amortized Amortized Amortized Cost Fair Value Cost Fair Value Cost Fair Value (dollars in thousands) U.S. government agency $ 78,841 $ 71,048 $ — $ — $ 7,593 $ 7,323 Mortgage-backed: Agency residential 8,175 7,651 — — 8,776 8,536 Agency commercial 27,834 25,432 99,271 99,275 118,792 113,861 Total $ 114,850 $ 104,131 $ 99,271 $ 99,275 $ 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. As of September 30, 2022 and December 31, 2021, the Bank had debt securities with a carrying value of $413.4 million and $353.3 million, 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 49% of the municipal portfolio consists of debt securities issued by municipalities located in Illinois as of September 30, 2022. Approximately 81% of such debt securities were general obligation issues as of September 30, 2022. The amortized cost and fair value of debt securities by contractual maturity, as of September 30, 2022, 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 Cost Fair Value Amortized Cost Fair Value (dollars in thousands) Due in 1 year or less $ 12,575 $ 12,506 $ 2,492 $ 2,494 Due after 1 year through 5 years 235,438 220,181 25,934 24,801 Due after 5 years through 10 years 250,903 216,108 79,440 71,686 Due after 10 years 74,813 62,662 23,396 20,632 Mortgage-backed: Agency residential 223,738 204,907 105,330 98,839 Agency commercial 154,677 137,376 310,102 263,240 Total $ 952,144 $ 853,740 $ 546,694 $ 481,692 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 September 30, 2022 and December 31, 2021: Investments in a Continuous Unrealized Loss Position Less than 12 Months 12 Months or More Total September 30, 2022 Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Available-for-sale: (dollars in thousands) U.S. Treasury $ (15,245) $ 144,691 $ (1,078) $ 8,881 $ (16,323) $ 153,572 U.S. government agency (3,831) 51,799 (575) 3,394 (4,406) 55,193 Municipal (16,557) 157,183 (21,247) 82,613 (37,804) 239,796 Mortgage-backed: Agency residential (15,072) 176,467 (3,779) 24,808 (18,851) 201,275 Agency commercial (9,292) 89,378 (8,010) 45,474 (17,302) 134,852 Corporate (2,527) 53,213 (1,233) 3,730 (3,760) 56,943 Total available-for-sale (62,524) 672,731 (35,922) 168,900 (98,446) 841,631 Held-to-maturity: U.S. government agency (2,316) 20,176 (8,026) 57,900 (10,342) 78,076 Municipal (1,357) 35,066 — — (1,357) 35,066 Mortgage-backed: Agency residential (6,320) 97,876 (171) 963 (6,491) 98,839 Agency commercial (24,304) 150,113 (22,558) 113,127 (46,862) 263,240 Total held-to-maturity (34,297) 303,231 (30,755) 171,990 (65,052) 475,221 Total debt securities $ (96,821) $ 975,962 $ (66,677) $ 340,890 $ (163,498) $ 1,316,852 Investments in a Continuous Unrealized Loss Position Less than 12 Months 12 Months or More Total December 31, 2021 Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Available-for-sale: (dollars in thousands) U.S. Treasury $ (354) $ 68,410 $ — $ — $ (354) $ 68,410 U.S. government agency (2,183) 80,219 (284) 5,578 (2,467) 85,797 Municipal (2,018) 89,424 (886) 17,327 (2,904) 106,751 Mortgage-backed: Agency residential (851) 91,703 (68) 4,305 (919) 96,008 Agency commercial (1,921) 113,111 (127) 6,443 (2,048) 119,554 Corporate (7) 2,737 (289) 4,671 (296) 7,408 Total available-for-sale (7,334) 445,604 (1,654) 38,324 (8,988) 483,928 Held-to-maturity: U.S. government agency (51) 4,949 — — (51) 4,949 Mortgage-backed: Agency residential (102) 14,932 — — (102) 14,932 Agency commercial (2,673) 174,428 (128) 2,776 (2,801) 177,204 Total held-to-maturity (2,826) 194,309 (128) 2,776 (2,954) 197,085 Total debt securities $ (10,160) $ 639,913 $ (1,782) $ 41,100 $ (11,942) $ 681,013 As of September 30, 2022, there were 183 debt securities in an unrealized loss position for a period of twelve months or more, and 641 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. There were no sales of debt securities during the three and nine months ended September 30, 2022 and 2021. Equity Securities Equity securities with readily determinable fair values are measured at fair value with changes in fair value recognized in gains (losses) on securities on the consolidated statements of income. 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 September 30, 2022 Fair Value Fair Value (dollars in thousands) Initial cost $ 3,142 $ 2,142 Cumulative net unrealized losses (146) (165) Carrying value $ 2,996 $ 1,977 Readily No Readily Determinable Determinable December 31, 2021 Fair Value Fair Value (dollars in thousands) Initial cost $ 3,142 $ 2,092 Cumulative net unrealized gains (losses) 301 (165) Carrying value $ 3,443 $ 1,927 As of September 30, 2022 and December 31, 2021, 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. There were no sales of equity securities during the three and nine months ended September 30, 2022 and 2021. Unrealized gains (losses) on equity securities were as follows during the three and nine months ended September 30, 2022: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 (dollars in thousands) Readily determinable fair value $ (107) $ 28 $ (447) $ 74 No readily determinable fair value — — — — Unrealized gains (losses) on equity securities $ (107) $ 28 $ (447) $ 74

LOANS AND THE ALLOWANCE FOR LOA

LOANS AND THE ALLOWANCE FOR LOAN LOSSES	9 Months Ended
LOANS AND THE ALLOWANCE FOR LOAN LOSSES	Sep. 30, 2022
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
LOANS AND THE ALLOWANCE FOR LOAN LOSSES	NOTE 4 – LOANS AND THE ALLOWANCE FOR LOAN LOSSES Major categories of loans are summarized as follows: September 30, 2022 December 31, 2021 (dollars in thousands) Commercial and industrial $ 240,671 $ 286,946 Agricultural and farmland 245,234 247,796 Commercial real estate - owner occupied 226,524 234,544 Commercial real estate - non-owner occupied 718,089 684,023 Multi-family 260,630 263,911 Construction and land development 364,290 298,048 One-to-four family residential 328,667 327,837 Municipal, consumer, and other 195,823 156,584 Loans, before allowance for loan losses 2,579,928 2,499,689 Allowance for loan losses (25,060) (23,936) Loans, net of allowance for loan losses $ 2,554,868 $ 2,475,753 Paycheck Protection Program (PPP) loans (included above) Commercial and industrial $ 65 $ 28,404 Agricultural and farmland — 913 Municipal, consumer, and other — 171 Total PPP loans $ 65 $ 29,488 The following tables detail activity in the allowance for loan losses for the three and nine months ended September 30: 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 September 30, 2022 Industrial Farmland Occupied Occupied Multi-Family Development Residential Other Total Allowance for loan losses: (dollars in thousands) Balance, June 30, 2022 $ 2,981 $ 924 $ 1,224 $ 6,611 $ 1,375 $ 4,059 $ 1,696 $ 5,864 $ 24,734 Provision for loan losses 14 (83) (65) 268 (52) 316 (78) 66 386 Charge-offs (17) — — — — — (18) (187) (222) Recoveries 6 — 1 3 — 1 60 91 162 Balance, September 30, 2022 $ 2,984 $ 841 $ 1,160 $ 6,882 $ 1,323 $ 4,376 $ 1,660 $ 5,834 $ 25,060 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 September 30, 2021 Industrial Farmland Occupied Occupied Multi-Family Development Residential Other Total Allowance for loan losses: (dollars in thousands) Balance, June 30, 2021 $ 2,717 $ 781 $ 1,946 $ 9,825 $ 2,009 $ 3,924 $ 1,520 $ 3,785 $ 26,507 Provision for loan losses 162 (26) (395) (710) (228) 413 (499) (384) (1,667) Charge-offs (135) — — — — — (48) (95) (278) Recoveries 114 — — 6 — 1 135 43 299 Balance, September 30, 2021 $ 2,858 $ 755 $ 1,551 $ 9,121 $ 1,781 $ 4,338 $ 1,108 $ 3,349 $ 24,861 Commercial Commercial Municipal, Commercial Agricultural Real Estate Real Estate Construction One-to-four Consumer, and and Owner Non-owner and Land Family and Nine Months Ended September 30, 2022 Industrial Farmland Occupied Occupied Multi-Family Development Residential Other Total Allowance for loan losses: (dollars in thousands) Balance, December 31, 2021 $ 2,440 $ 845 $ 1,840 $ 8,145 $ 1,263 $ 4,914 $ 1,311 $ 3,178 $ 23,936 Provision for loan losses (189) (4) (781) (1,536) 60 (539) 93 2,843 (53) Charge-offs (22) — — — — — (67) (426) (515) Recoveries 755 — 101 273 — 1 323 239 1,692 Balance, September 30, 2022 $ 2,984 $ 841 $ 1,160 $ 6,882 $ 1,323 $ 4,376 $ 1,660 $ 5,834 $ 25,060 Commercial Commercial Municipal, Commercial Agricultural Real Estate Real Estate Consumer and and Owner Non-owner Construction Residential and Nine Months Ended September 30, 2021 Industrial Farmland Occupied Occupied Multi-Family and Land Real Estate 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 (1,062) (38) (1,590) (2,149) (176) (164) (742) (1,313) (7,234) Charge-offs (430) — — — — — (161) (284) (875) Recoveries 421 — — 19 — 270 210 212 1,132 Balance, September 30, 2021 $ 2,858 $ 755 $ 1,551 $ 9,121 $ 1,781 $ 4,338 $ 1,108 $ 3,349 $ 24,861 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 September 30, 2022 Industrial Farmland Occupied Occupied Multi-Family Development Residential Other Total Loan balances: (dollars in thousands) Collectively evaluated for impairment $ 237,839 $ 244,236 $ 210,461 $ 675,121 $ 260,060 $ 361,305 $ 315,209 $ 183,181 $ 2,487,412 Individually evaluated for impairment 2,702 385 11,607 31,553 — 2,007 8,427 12,622 69,303 Acquired with deteriorated credit quality 130 613 4,456 11,415 570 978 5,031 20 23,213 Total $ 240,671 $ 245,234 $ 226,524 $ 718,089 $ 260,630 $ 364,290 $ 328,667 $ 195,823 $ 2,579,928 Allowance for loan losses: Collectively evaluated for impairment $ 2,826 $ 841 $ 930 $ 4,416 $ 1,320 $ 4,374 $ 1,619 $ 2,342 $ 18,668 Individually evaluated for impairment 158 — 208 2,465 — — 39 3,492 6,362 Acquired with deteriorated credit quality — — 22 1 3 2 2 — 30 Total $ 2,984 $ 841 $ 1,160 $ 6,882 $ 1,323 $ 4,376 $ 1,660 $ 5,834 $ 25,060 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, 2021 Industrial Farmland Occupied Occupied Multi-Family Development Residential Other Total Loan balances: (dollars in thousands) Collectively evaluated for impairment $ 272,064 $ 247,021 $ 216,794 $ 641,555 $ 262,701 $ 293,548 $ 314,807 $ 143,510 $ 2,392,000 Individually evaluated for impairment 14,744 12 12,332 29,575 — 2,018 6,897 13,041 78,619 Acquired with deteriorated credit quality 138 763 5,418 12,893 1,210 2,482 6,133 33 29,070 Total $ 286,946 $ 247,796 $ 234,544 $ 684,023 $ 263,911 $ 298,048 $ 327,837 $ 156,584 $ 2,499,689 Allowance for loan losses: Collectively evaluated for impairment $ 2,253 $ 845 $ 1,480 $ 5,138 $ 1,259 $ 4,895 $ 1,099 $ 1,302 $ 18,271 Individually evaluated for impairment 187 — 327 2,999 — — 210 1,875 5,598 Acquired with deteriorated credit quality — — 33 8 4 19 2 1 67 Total $ 2,440 $ 845 $ 1,840 $ 8,145 $ 1,263 $ 4,914 $ 1,311 $ 3,178 $ 23,936 The following tables present loans individually evaluated for impairment by category of loans: Unpaid Principal Recorded Related September 30, 2022 Balance Investment Allowance With an allowance recorded: (dollars in thousands) Commercial and industrial $ 256 $ 256 $ 158 Agricultural and farmland — — — Commercial real estate - owner occupied 734 734 208 Commercial real estate - non-owner occupied 14,359 14,348 2,465 Multi-family — — — Construction and land development — — — One-to-four family residential 350 340 39 Municipal, consumer, and other 8,223 8,201 3,492 Total $ 23,922 $ 23,879 $ 6,362 With no related allowance: Commercial and industrial $ 2,460 $ 2,446 $ — Agricultural and farmland 385 385 — Commercial real estate - owner occupied 11,030 10,873 — Commercial real estate - non-owner occupied 17,284 17,205 — Multi-family — — — Construction and land development 2,107 2,007 — One-to-four family residential 9,403 8,087 — Municipal, consumer, and other 4,455 4,421 — Total $ 47,124 $ 45,424 $ — Total loans individually evaluated for impairment: Commercial and industrial $ 2,716 $ 2,702 $ 158 Agricultural and farmland 385 385 — Commercial real estate - owner occupied 11,764 11,607 208 Commercial real estate - non-owner occupied 31,643 31,553 2,465 Multi-family — — — Construction and land development 2,107 2,007 — One-to-four family residential 9,753 8,427 39 Municipal, consumer, and other 12,678 12,622 3,492 Total $ 71,046 $ 69,303 $ 6,362 Unpaid Principal Recorded Related December 31, 2021 Balance Investment Allowance With an allowance recorded: (dollars in thousands) Commercial and industrial $ 303 $ 303 $ 187 Agricultural and farmland — — — Commercial real estate - owner occupied 3,013 3,013 327 Commercial real estate - non-owner occupied 14,912 14,893 2,999 Multi-family — — — Construction and land development — — — One-to-four family residential 1,421 1,314 210 Municipal, consumer, and other 8,523 8,498 1,875 Total $ 28,172 $ 28,021 $ 5,598 With no related allowance: Commercial and industrial $ 14,452 $ 14,441 $ — Agricultural and farmland 12 12 — Commercial real estate - owner occupied 9,534 9,319 — Commercial real estate - non-owner occupied 14,755 14,682 — Multi-family — — — Construction and land development 2,112 2,018 — One-to-four family residential 7,129 5,583 — Municipal, consumer, and other 4,603 4,543 — Total $ 52,597 $ 50,598 $ — Total loans individually evaluated for impairment: Commercial and industrial $ 14,755 $ 14,744 $ 187 Agricultural and farmland 12 12 — Commercial real estate - owner occupied 12,547 12,332 327 Commercial real estate - non-owner occupied 29,667 29,575 2,999 Multi-family — — — Construction and land development 2,112 2,018 — One-to-four family residential 8,550 6,897 210 Municipal, consumer, and other 13,126 13,041 1,875 Total $ 80,769 $ 78,619 $ 5,598 The following tables present the average recorded investment and interest income recognized for loans individually evaluated for impairment by category of loans: Three Months Ended September 30, 2022 2021 Average Interest Average Interest Recorded Income Recorded Income Investment Recognized Investment Recognized With an allowance recorded: (dollars in thousands) Commercial and industrial $ 258 $ 5 $ 1,925 $ 26 Agricultural and farmland — — — — Commercial real estate - owner occupied 739 11 3,192 45 Commercial real estate - non-owner occupied 14,441 185 15,136 194 Multi-family — — — — Construction and land development — — — — One-to-four family residential 349 2 1,827 18 Municipal, consumer, and other 8,254 66 8,641 40 Total $ 24,041 $ 269 $ 30,721 $ 323 With no related allowance: Commercial and industrial $ 3,894 $ 41 $ 7,137 $ 115 Agricultural and farmland 425 5 385 6 Commercial real estate - owner occupied 11,651 141 6,551 81 Commercial real estate - non-owner occupied 17,220 369 15,283 101 Multi-family — — — — Construction and land development 2,010 57 2,439 1 One-to-four family residential 8,119 99 5,713 45 Municipal, consumer, and other 4,457 44 4,635 21 Total $ 47,776 $ 756 $ 42,143 $ 370 Total loans individually evaluated for impairment: Commercial and industrial $ 4,152 $ 46 $ 9,062 $ 141 Agricultural and farmland 425 5 385 6 Commercial real estate - owner occupied 12,390 152 9,743 126 Commercial real estate - non-owner occupied 31,661 554 30,419 295 Multi-family — — — — Construction and land development 2,010 57 2,439 1 One-to-four family residential 8,468 101 7,540 63 Municipal, consumer, and other 12,711 110 13,276 61 Total $ 71,817 $ 1,025 $ 72,864 $ 693 Nine Months Ended September 30, 2022 2021 Average Interest Average Interest Recorded Income Recorded Income Investment Recognized Investment Recognized With an allowance recorded: (dollars in thousands) Commercial and industrial $ 272 $ 13 $ 2,025 $ 84 Agricultural and farmland — — 110 4 Commercial real estate - owner occupied 1,297 55 3,060 132 Commercial real estate - non-owner occupied 14,631 556 17,001 599 Multi-family — — — — Construction and land development — — 741 27 One-to-four family residential 513 11 2,209 64 Municipal, consumer, and other 8,368 151 8,722 119 Total $ 25,081 $ 786 $ 33,868 $ 1,029 With no related allowance: Commercial and industrial $ 12,793 $ 397 $ 5,222 $ 205 Agricultural and farmland 305 8 384 17 Commercial real estate - owner occupied 11,524 388 7,216 273 Commercial real estate - non-owner occupied 16,894 907 8,880 239 Multi-family — — 580 10 Construction and land development 2,012 105 2,060 27 One-to-four family residential 8,341 240 6,427 142 Municipal, consumer, and other 4,493 98 4,695 65 Total $ 56,362 $ 2,143 $ 35,464 $ 978 Total loans individually evaluated for impairment: Commercial and industrial $ 13,065 $ 410 $ 7,247 $ 289 Agricultural and farmland 305 8 494 21 Commercial real estate - owner occupied 12,821 443 10,276 405 Commercial real estate - non-owner occupied 31,525 1,463 25,881 838 Multi-family — — 580 10 Construction and land development 2,012 105 2,801 54 One-to-four family residential 8,854 251 8,636 206 Municipal, consumer, and other 12,861 249 13,417 184 Total $ 81,443 $ 2,929 $ 69,332 $ 2,007 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 September 30, 2022 Current Past Due Past Due Nonaccrual Loans (dollars in thousands) Commercial and industrial $ 240,391 $ 191 $ — $ 89 $ 240,671 Agricultural and farmland 245,234 — — — 245,234 Commercial real estate - owner occupied 226,424 100 — — 226,524 Commercial real estate - non-owner occupied 717,085 — — 1,004 718,089 Multi-family 260,630 — — — 260,630 Construction and land development 362,367 1,429 — 494 364,290 One-to-four family residential 325,926 1,159 22 1,560 328,667 Municipal, consumer, and other 195,651 113 — 59 195,823 Total $ 2,573,708 $ 2,992 $ 22 $ 3,206 $ 2,579,928 Accruing Interest 30 - 89 Days 90+ Days Total December 31, 2021 Current Past Due Past Due Nonaccrual Loans (dollars in thousands) Commercial and industrial $ 286,563 $ 9 $ — $ 374 $ 286,946 Agricultural and farmland 247,772 24 — — 247,796 Commercial real estate - owner occupied 234,441 103 — — 234,544 Commercial real estate - non-owner occupied 683,029 823 — 171 684,023 Multi-family 263,911 — — — 263,911 Construction and land development 297,465 64 — 519 298,048 One-to-four family residential 325,780 383 32 1,642 327,837 Municipal, consumer, and other 156,297 214 16 57 156,584 Total $ 2,495,258 $ 1,620 $ 48 $ 2,763 $ 2,499,689 The following tables present total loans by category based on their assigned risk ratings determined by management: September 30, 2022 Pass Pass-Watch Substandard Doubtful Total (dollars in thousands) Commercial and industrial $ 229,239 $ 8,730 $ 2,702 $ — $ 240,671 Agricultural and farmland 230,636 13,601 997 — 245,234 Commercial real estate - owner occupied 202,250 13,465 10,809 — 226,524 Commercial real estate - non-owner occupied 673,481 10,336 34,272 — 718,089 Multi-family 255,665 4,965 — — 260,630 Construction and land development 361,954 329 2,007 — 364,290 One-to-four family residential 313,608 6,074 8,985 — 328,667 Municipal, consumer, and other 182,902 298 12,623 — 195,823 Total $ 2,449,735 $ 57,798 $ 72,395 $ — $ 2,579,928 December 31, 2021 Pass Pass-Watch Substandard Doubtful Total (dollars in thousands) Commercial and industrial $ 267,088 $ 5,114 $ 14,744 $ — $ 286,946 Agricultural and farmland 221,898 25,213 685 — 247,796 Commercial real estate - owner occupied 198,862 24,098 11,584 — 234,544 Commercial real estate - non-owner occupied 619,212 32,372 32,439 — 684,023 Multi-family 241,362 22,549 — — 263,911 Construction and land development 268,556 27,474 2,018 — 298,048 One-to-four family residential 308,951 11,221 7,665 — 327,837 Municipal, consumer, and other 143,299 244 13,041 — 156,584 Total $ 2,269,228 $ 148,285 $ 82,176 $ — $ 2,499,689 There were no new troubled debt restructurings during the three and nine months ended September 30, 2022 or 2021. Of the troubled debt restructurings entered into during the last 12 months, there were none which had subsequent payment defaults during the three and nine months ended September 30, 2022 or 2021. 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 September 30, 2022 and December 31, 2021, the Company had $3.1 million and $3.5 million 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 loans 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 made prior to December 31, 2021 to borrowers experiencing financial hardship due to the COVID-19 pandemic generally do not need to be accounted for as a troubled debt restructuring. As of September 30, 2022, the Company had no loans that were granted a payment modification due to a COVID-19 related financial hardship which had not returned to regular payments. As of December 31, 2021, the Company had $0.2 million of loans that were granted a payment modification due to a COVID-19 related financial hardship and had not returned to regular payments. Substantially all modifications were in the form of a three-month interest-only period or a one-month payment deferral. Some borrowers received more than one loan payment modification. As of September 30, 2022 and December 31, 2021, the Company pledged loans totaling $824.9 million and $567.0 million, respectively, to the Federal Home Loan Bank of Chicago (“FHLB”) to secure available FHLB advance borrowing capacity. Changes in the accretable yield for loans acquired with deteriorated credit quality were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 (dollars in thousands) Beginning balance $ 537 $ 1,350 $ 413 $ 1,397 Reclassification from non-accretable difference 283 280 500 433 Accretion income (58) (86) (151) (286) Ending balance $ 762 $ 1,544 $ 762 $ 1,544

LOAN SERVICING

LOAN SERVICING	9 Months Ended
LOAN SERVICING	Sep. 30, 2022
LOAN SERVICING
LOAN SERVICING	NOTE 5 – LOAN SERVICING Mortgage loans serviced for others, which are not included in the accompanying consolidated balance sheets, amounted to $976.1 million and $1.04 billion as of September 30, 2022 and December 31, 2021, respectively. Activity in mortgage servicing rights is as follows: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 (dollars in thousands) Beginning balance $ 10,089 $ 7,319 $ 7,994 $ 5,934 Capitalized servicing rights 144 241 451 994 Fair value adjustment: Attributable to payments and principal reductions (362) (451) (1,048) (1,408) Attributable to changes in valuation inputs and assumptions 569 250 3,043 1,839 Total fair value adjustment 207 (201) 1,995 431 Ending balance $ 10,440 $ 7,359 $ 10,440 $ 7,359

FORECLOSED ASSETS

FORECLOSED ASSETS	9 Months Ended
FORECLOSED ASSETS	Sep. 30, 2022
FORECLOSED ASSETS
FORECLOSED ASSETS	NOTE 6 – FORECLOSED ASSETS Foreclosed assets activity is as follows: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 (dollars in thousands) Beginning balance $ 2,891 $ 7,757 $ 3,278 $ 4,168 Transfers from loans — — 27 4,856 Proceeds from sales (29) (354) (476) (1,583) Sales through loan origination — (74) — (252) Net gain on sales 20 108 118 321 Direct write-downs (245) (122) (310) (195) Ending balance $ 2,637 $ 7,315 $ 2,637 $ 7,315 Gains (losses) on foreclosed assets includes the following: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 (dollars in thousands) Direct write-downs $ (245) $ (122) $ (310) $ (195) Net gain on sales 20 108 118 321 Gains (losses) on foreclosed assets $ (225) $ (14) $ (192) $ 126 There were no foreclosed one-to-four family residential real estate properties held as of September 30, 2022. The carrying value of foreclosed one-to-four family residential real estate properties held as of December 31, 2021 was $0.2 million. As of September 30, 2022, there were 4 one-to-four family residential real estate loans in the process of foreclosure totaling $0.4 million. As of December 31, 2021, there were 4 one-to-four family residential real estate loans in the process of foreclosure totaling $0.1 million.

DEPOSITS

DEPOSITS	9 Months Ended
DEPOSITS	Sep. 30, 2022
DEPOSITS
DEPOSITS	NOTE 7 – DEPOSITS The Company’s deposits are summarized below: September 30, 2022 December 31, 2021 (dollars in thousands) Noninterest-bearing deposits $ 1,017,710 $ 1,087,659 Interest-bearing deposits: Interest-bearing demand 1,131,284 1,105,949 Money market 584,202 583,198 Savings 641,139 633,171 Time 269,108 328,208 Total interest-bearing deposits 2,625,733 2,650,526 Total deposits $ 3,643,443 $ 3,738,185 Money market deposits include $4.2 million of brokered deposits as of December 31, 2021. There were no brokered deposits as of September 30, 2022. Money market deposits also include $5.7 million and $6.9 million of reciprocal transaction deposits as of September 30, 2022 and December 31, 2021, respectively. Time deposits include $0.7 million and $0.9 million of reciprocal time deposits as of September 30, 2022, and December 31, 2021, respectively. The aggregate amounts of time deposits in denominations of $250 thousand or more amounted to $25.8 million and $59.5 million as of September 30, 2022 and December 31, 2021, respectively. The aggregate amounts of time deposits in denominations of $100 thousand or more amounted to $89.9 million and $133.1 million as of September 30, 2022 and December 31, 2021, respectively. The components of interest expense on deposits are as follows: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 (dollars in thousands) Interest-bearing demand $ 144 $ 129 $ 430 $ 373 Money market 203 96 434 279 Savings 53 48 155 135 Time 187 291 643 1,034 Total interest expense on deposits $ 587 $ 564 $ 1,662 $ 1,821

DERIVATIVE FINANCIAL INSTRUMENT

DERIVATIVE FINANCIAL INSTRUMENTS	9 Months Ended
DERIVATIVE FINANCIAL INSTRUMENTS	Sep. 30, 2022
DERIVATIVE FINANCIAL INSTRUMENTS
DERIVATIVE FINANCIAL INSTRUMENTS	NOTE 8 – 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: September 30, 2022 December 31, 2021 Notional Fair Notional Fair Amount Value Amount Value (dollars in thousands) Fair value recorded in other assets $ 17,000 $ 614 $ — $ — Fair value recorded in other liabilities — — 17,000 (680) As of September 30, 2022, the interest rate swap agreements designated as cash flow hedges had contractual maturities between 2024 and 2025. As of September 30, 2022, counterparties had cash pledged pledged 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 (loss) to income other comprehensive income Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 Designated as cash flow hedges: (dollars in thousands) Junior subordinated debentures interest expense $ (14) $ (105) $ (177) $ (306) 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 interest rate 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: September 30, 2022 December 31, 2021 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 $ — $ — $ 112,041 $ 8,622 Interest rate swaps with a financial institution counterparty 109,468 7,431 3,880 75 Total fair value recorded in other assets $ 109,468 $ 7,431 $ 115,921 $ 8,697 Fair value recorded in other liabilities: Interest rate swaps with a commercial borrower counterparty $ 109,468 $ (7,431) $ 3,880 $ (75) Interest rate swaps with a financial institution counterparty — — 112,041 (8,622) Total fair value recorded in other liabilities $ 109,468 $ (7,431) $ 115,921 $ (8,697) As of September 30, 2022, the interest rate swap agreements not designated as hedging instruments had contractual maturities between 2022 and 2042. As of December 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 Nine Months Ended September 30, September 30, 2022 2021 2022 2021 Not designated as hedging instruments: (dollars in thousands) Gross gains $ 5,209 $ 1,843 $ 15,303 $ 12,281 Gross losses (5,209) (1,843) (15,303) (12,281) Net gains (losses) $ — $ — $ — $ —

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	9 Months Ended
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	Sep. 30, 2022
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	NOTE 9 – ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) 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 September 30, 2022 Balance, June 30, 2022 $ (42,061) $ (10,656) $ (103) $ (52,820) Other comprehensive income (loss) before reclassifications (35,358) — 374 (34,984) Reclassifications — 504 14 518 Other comprehensive income (loss), before tax (35,358) 504 388 (34,466) Income tax expense (benefit) (10,079) 144 111 (9,824) Other comprehensive income (loss), after tax (25,279) 360 277 (24,642) Balance, September 30, 2022 $ (67,340) $ (10,296) $ 174 $ (77,462) Three Months Ended September 30, 2021 Balance, June 30, 2021 $ 13,260 $ (3,840) $ (1,034) $ 8,386 Other comprehensive loss before reclassifications (5,676) — (8) (5,684) Reclassifications — 195 105 300 Other comprehensive income (loss), before tax (5,676) 195 97 (5,384) Income tax expense (1,618) 56 27 (1,535) Other comprehensive income (loss), after tax (4,058) 139 70 (3,849) Balance, September 30, 2021 $ 9,202 $ (3,701) $ (964) $ 4,537 Unrealized Gains (Losses) on Debt Securities Available-for-Sale Held-to-Maturity Derivatives Total (dollars in thousands) Nine Months Ended September 30, 2022 Balance, December 31, 2021 $ 5,736 $ (3,514) $ (751) $ 1,471 Transfer from available-for-sale to held-to-maturity 7,664 (7,664) — — Other comprehensive income (loss) before reclassifications (112,931) — 1,117 (111,814) Reclassifications — 1,234 177 1,411 Other comprehensive income (loss), before tax (112,931) 1,234 1,294 (110,403) Income tax expense (benefit) (32,191) 352 369 (31,470) Other comprehensive income (loss), after tax (80,740) 882 925 (78,933) Balance, September 30, 2022 $ (67,340) $ (10,296) $ 174 $ (77,462) Nine Months Ended September 30, 2021 Balance, December 31, 2020 $ 19,578 $ (118) $ (1,307) $ 18,153 Transfer from available-for-sale to held-to-maturity 3,887 (3,887) — — Other comprehensive income (loss) before reclassifications (19,950) — 173 (19,777) Reclassifications — 426 306 732 Other comprehensive income (loss), before tax (19,950) 426 479 (19,045) Income tax expense (benefit) (5,687) 122 136 (5,429) Other comprehensive income (loss), after tax (14,263) 304 343 (13,616) Balance, September 30, 2021 $ 9,202 $ (3,701) $ (964) $ 4,537 Reclassifications from accumulated other comprehensive income (loss) for unrealized gains (losses) on debt securities available-for-sale are included in gains (losses) on sales of securities in the accompanying consolidated statements of income. Reclassifications 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. Reclassifications 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 8 for additional information.

EARNINGS PER SHARE

EARNINGS PER SHARE	9 Months Ended
EARNINGS PER SHARE	Sep. 30, 2022
EARNINGS PER SHARE
EARNINGS PER SHARE	NOTE 10 – 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 from the Company’s outstanding restricted stock units and performance restricted stock units. The following table sets forth the computation of basic and diluted earnings per share: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 (dollars in thousands) Numerator: Net income $ 15,627 $ 13,715 $ 43,316 $ 42,677 Earnings allocated to participating securities (17) (25) (51) (81) Numerator for earnings per share - basic and diluted $ 15,610 $ 13,690 $ 43,265 $ 42,596 Denominator: Weighted average common shares outstanding 28,787,662 27,340,926 28,887,757 27,377,809 Dilutive effect of outstanding restricted stock units 72,643 13,921 56,761 11,412 Weighted average common shares outstanding, including all dilutive potential shares 28,860,305 27,354,847 28,944,518 27,389,221 Earnings per share - Basic $ 0.54 $ 0.50 $ 1.50 $ 1.56 Earnings per share - Diluted $ 0.54 $ 0.50 $ 1.49 $ 1.56

STOCK-BASED COMPENSATION PLANS

STOCK-BASED COMPENSATION PLANS	9 Months Ended
STOCK-BASED COMPENSATION PLANS	Sep. 30, 2022
STOCK-BASED COMPENSATION PLANS
STOCK-BASED COMPENSATION PLANS	NOTE 11 – 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 September 30, Nine Months Ended September 30, 2022 2021 2022 2021 (dollars in thousands) Restricted stock units $ 230 $ 153 $ 1,072 $ 415 Performance restricted stock units 119 75 530 123 Total awards classified as equity 349 228 1,602 538 Stock appreciation rights 51 (87) 35 43 Total stock-based compensation expense $ 400 $ 141 $ 1,637 $ 581 In February 2022, all outstanding restricted stock unit and performance restricted stock unit agreements were modified to address treatment upon retirement. In the event of retirement, and if the retirement eligibility requirements are met, then 100% of unvested restricted stock units and performance restricted stock units will continue to vest in accordance with the originally established vesting schedule. The retirement modification resulted in the acceleration of $0.6 million of expense, although total compensation costs related to the modified agreements remained the same. Restricted Stock Units A restricted stock unit grants a participant the right to receive one share of the Company’s 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. During the nine months ended September 30, 2022 and 2021, the total grant date fair value of the restricted stock units granted was $0.9 million and $0.8 million, respectively, based on the grant date closing prices. The total intrinsic value of restricted stock that vested during the nine months ended September 30, 2022 and 2021 was $0.7 million and $0.3 million, respectively. The following is a summary of restricted stock unit activity: Three Months Ended September 30, 2022 2021 Weighted Weighted Average Average Restricted Grant Date Restricted Grant Date Stock Units Fair Value Stock Units Fair Value Beginning balance 120,631 $ 17.98 99,597 $ 17.37 Granted — — — — Vested — — — — Forfeited (1,328) 18.35 — — Ending balance 119,303 $ 17.98 99,597 $ 17.37 Nine Months Ended September 30, 2022 2021 Weighted Weighted Average Average Restricted Grant Date Restricted Grant Date Stock Units Fair Value Stock Units Fair Value Beginning balance 109,244 $ 17.27 71,000 $ 18.98 Granted 46,312 19.11 50,347 15.72 Vested (34,925) 17.26 (20,225) 18.86 Forfeited (1,328) 18.35 (1,525) 18.11 Ending balance 119,303 $ 17.98 99,597 $ 17.37 As of September 30, 2022, unrecognized compensation cost related to the non-vested restricted stock units was $1.1 million. This cost is expected to be recognized over the weighted average remaining service period of 1.7 years. Performance Restricted Stock Units A performance restricted stock unit is similar to a restricted stock unit, except that the number of shares of the Company’s common stock awarded is based on a performance condition and the completion of the requisite service period. The number of shares of the Company’s common stock that may be earned ranges from 0% to 150% of the number of performance restricted stock units granted. Performance restricted stock units are classified as equity. Compensation cost is based on the Company’s stock price on the grant date and an assessment of the probable outcome of the performance condition. Compensation cost is recognized on a straight-line basis over the service period of the entire award. Changes in the performance condition probability assessment result in cumulative catch-up adjustments to the compensation cost recognized. Dividend equivalents on performance restricted stock units, which are accrued until vested, are classified as dividends charged to retained earnings. During the nine months ended September 30, 2022 and 2021, the total fair value of the performance restricted stock units granted was $0.5 million and $0.4 million, respectively, based on the grant date closing prices 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 September 30, 2022 2021 Weighted Weighted Performance Average Performance Average Restricted Grant Date Restricted Grant Date Stock Units Fair Value Stock Units Fair Value Beginning balance 62,067 $ 17.02 28,697 $ 15.53 Granted — — — — Vested — — — — Forfeited — — — — Ending balance 62,067 $ 17.02 28,697 $ 15.53 Nine months ended September 30, 2022 2021 Weighted Weighted Performance Average Performance Average Restricted Grant Date Restricted Grant Date Stock Units Fair Value Stock Units Fair Value Beginning balance 38,344 $ 15.72 — $ — Granted 23,723 19.14 28,697 15.53 Vested — — — — Forfeited — — — — Ending balance 62,067 $ 17.02 28,697 $ 15.53 As of September 30, 2022, unrecognized compensation cost related to non-vested performance restricted stock units was $0.5 million, based on the current assessment of the probable outcome of the performance conditions. This cost is expected to be recognized over the weighted average remaining service period of 1.7 years. 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 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 non-vested stock appreciation rights is recognized on a straight line basis over the service period of the entire award. The non-vested 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 September 30, 2022 2021 Stock Appreciation Rights Outstanding Weighted Average Grant Date Assigned Value Stock Appreciation Rights Outstanding Weighted Average Grant Date Assigned Value Beginning balance 91,800 $ 16.32 97,920 $ 16.32 Granted — — — — Exercised — — — — Expired — — — — Forfeited — — — — Ending balance 91,800 $ 16.32 97,920 $ 16.32 Nine Months Ended September 30, 2022 2021 Stock Appreciation Rights Weighted Average Grant Date Assigned Value Stock Appreciation Rights Weighted Average Grant Date Assigned Value Beginning balance 97,920 $ 16.32 105,570 $ 16.32 Granted — — — — Exercised (6,120) 16.32 (6,120) 16.32 Expired — — (1,530) 16.32 Forfeited — — — — Ending balance 91,800 $ 16.32 97,920 $ 16.32 A further summary of stock appreciation rights as of September 30, 2022, is as follows: Weighted Average Stock Appreciation Rights Remaining Grant Date Assigned Values Outstanding Exercisable Contractual Term $ 16.32 91,800 85,680 6.5 years As of September 30, 2022, unrecognized compensation cost related to non-vested stock appreciation rights was $33 thousand. As of September 30, 2022 and December 31, 2021, the liability recorded for outstanding stock appreciation rights was $0.5 million and $0.5 million, 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. September 30, 2022 December 31, 2021 Risk-free interest rate 3.97 % 1.40 % Expected volatility 36.17 % 35.52 % Expected life (in years) 6.9 7.7 Expected dividend yield 3.53 % 3.20 % As of September 30, 2022, the liability recorded for previously exercised stock appreciation rights was $0.5 million, which will be paid in two remaining annual installments in 2023 and 2024. As of December 31, 2021, the liability recorded for previously exercised stock appreciation rights was $0.8 million.

REGULATORY MATTERS

REGULATORY MATTERS	9 Months Ended
REGULATORY MATTERS	Sep. 30, 2022
REGULATORY MATTERS
REGULATORY MATTERS	NOTE 12 – REGULATORY MATTERS 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. Additionally, 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. 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 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 debt 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 September 30, 2022 and December 31, 2021, the capital conservation buffer was 2.5% of risk-weighted assets. As of September 30, 2022, 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 the Company (on a consolidated basis) and the Bank are as follows: Actual For Capital Adequacy Purposes To Be Well Capitalized Under Prompt Corrective Action Provisions September 30, 2022 Amount Ratio Amount Ratio Amount Ratio (dollars in thousands) Total Capital (to Risk Weighted Assets) Consolidated HBT Financial, Inc. $ 507,277 16.34 % $ 248,395 8.00 % N/A N/A Heartland Bank and Trust Company 484,065 15.60 248,216 8.00 $ 310,271 10.00 % Tier 1 Capital (to Risk Weighted Assets) Consolidated HBT Financial, Inc. $ 442,841 14.26 % $ 186,296 6.00 % N/A N/A Heartland Bank and Trust Company 459,005 14.79 186,162 6.00 $ 248,216 8.00 % Common Equity Tier 1 Capital (to Risk Weighted Assets) Consolidated HBT Financial, Inc. $ 406,243 13.08 % $ 139,722 4.50 % N/A N/A Heartland Bank and Trust Company 459,005 14.79 139,622 4.50 $ 201,676 6.50 % Tier 1 Capital (to Average Assets) Consolidated HBT Financial, Inc. $ 442,841 10.44 % $ 169,611 4.00 % N/A N/A Heartland Bank and Trust Company 459,005 10.83 169,515 4.00 $ 211,894 5.00 % Actual For Capital Adequacy Purposes To Be Well Capitalized Under Prompt Corrective Action Provisions December 31, 2021 Amount Ratio Amount Ratio Amount Ratio (dollars in thousands) Total Capital (to Risk Weighted Assets) Consolidated HBT Financial, Inc. $ 479,320 16.88 % $ 227,115 8.00 % N/A N/A Heartland Bank and Trust Company 452,162 15.94 226,950 8.00 $ 283,688 10.00 % Tier 1 Capital (to Risk Weighted Assets) Consolidated HBT Financial, Inc. $ 416,068 14.66 % $ 170,336 6.00 % N/A N/A Heartland Bank and Trust Company 428,226 15.09 170,213 6.00 $ 226,950 8.00 % Common Equity Tier 1 Capital (to Risk Weighted Assets) Consolidated HBT Financial, Inc. $ 379,519 13.37 % $ 127,752 4.50 % N/A N/A Heartland Bank and Trust Company 428,226 15.09 127,659 4.50 $ 184,397 6.50 % Tier 1 Capital (to Average Assets) Consolidated HBT Financial, Inc. $ 416,068 9.84 % $ 169,171 4.00 % N/A N/A Heartland Bank and Trust Company 428,226 10.13 169,070 4.00 $ 211,337 5.00 %

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	9 Months Ended
FAIR VALUE OF FINANCIAL INSTRUMENTS	Sep. 30, 2022
FAIR VALUE OF FINANCIAL INSTRUMENTS
FAIR VALUE OF FINANCIAL INSTRUMENTS	NOTE 13 – 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 for the year ended December 31, 2021, filed with the SEC on March 11, 2022. There were no transfers between levels during the three and nine months ended September 30, 2022 and 2021. 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: September 30, 2022 Level 1 Inputs Level 2 Inputs Level 3 Inputs Total Fair Value (dollars in thousands) Debt securities available-for-sale: U.S. Treasury $ 153,572 $ — $ — $ 153,572 U.S. government agency — 57,023 — 57,023 Municipal — 241,911 — 241,911 Mortgage-backed: Agency residential — 204,907 — 204,907 Agency commercial — 137,376 — 137,376 Corporate — 58,951 — 58,951 Equity securities with readily determinable fair values 2,996 — — 2,996 Mortgage servicing rights — — 10,440 10,440 Derivative financial assets — 8,045 — 8,045 Derivative financial liabilities — 7,431 — 7,431 December 31, 2021 Level 1 Inputs Level 2 Inputs Level 3 Inputs Total Fair Value (dollars in thousands) Debt securities available-for-sale: U.S. Treasury $ 108,976 $ — $ — $ 108,976 U.S. government agency — 128,105 — 128,105 Municipal — 297,077 — 297,077 Mortgage-backed: Agency residential — 179,466 — 179,466 Agency commercial — 164,061 — 164,061 Corporate — 64,483 — 64,483 Equity securities with readily determinable fair values 3,443 — — 3,443 Mortgage servicing rights — — 7,994 7,994 Derivative financial assets — 8,697 — 8,697 Derivative financial liabilities — 9,377 — 9,377 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, 2021 to September 30, 2022. 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 (loss). 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 hedging instruments, the change in fair value is recorded through an adjustment to the consolidated statement of comprehensive income (loss). For derivative financial instruments not designated as 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): September 30, 2022 Fair Value Valuation Technique Unobservable Inputs Range (Weighted Average) Mortgage servicing rights $ 10,440 Discounted cash flows Constant pre-payment rates (CPR) 5.5% to 59.7% (8.2%) Discount rate 9.0% to 11.5% (9.3%) December 31, 2021 Fair Value Valuation Technique Unobservable Inputs Range (Weighted Average) Mortgage servicing rights $ 7,994 Discounted cash flows Constant pre-payment rates (CPR) 7.0% to 88.9% (11.7%) 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: September 30, 2022 Level 1 Inputs Level 2 Inputs Level 3 Inputs Total Fair Value (dollars in thousands) Loans held for sale $ — $ 2,297 $ — $ 2,297 Collateral-dependent impaired loans — — 17,517 17,517 Bank premises held for sale — — 281 281 Foreclosed assets — — 2,637 2,637 December 31, 2021 Level 1 Inputs Level 2 Inputs Level 3 Inputs Total Fair Value (dollars in thousands) Loans held for sale $ — $ 4,942 $ — $ 4,942 Collateral-dependent impaired loans — — 22,423 22,423 Bank premises held for sale — — 1,452 1,452 Foreclosed assets — — 3,278 3,278 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 with respect to 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): September 30, 2022 Fair Value Valuation Technique Unobservable Inputs Range (Weighted Average) Collateral-dependent impaired loans $ 17,517 Appraisal of collateral Appraisal adjustments Not meaningful Bank premises held for sale 281 Appraisal Appraisal adjustments 7% (7%) Foreclosed assets 2,637 Appraisal Appraisal adjustments 7% (7%) December 31, 2021 Fair Value Valuation Technique Unobservable Inputs Range (Weighted Average) Collateral-dependent impaired loans $ 22,423 Appraisal of collateral Appraisal adjustments Not meaningful Bank premises held for sale 1,452 Appraisal Appraisal adjustments 7% (7%) Foreclosed assets 3,278 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. 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 marketplace. 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 September 30, 2022 December 31, 2021 Hierarchy Carrying Estimated Carrying Estimated Level Amount Fair Value Amount Fair Value (dollars in thousands) Financial assets: Cash and cash equivalents Level 1 $ 78,215 $ 78,215 $ 409,268 $ 409,268 Debt securities held-to-maturity Level 2 546,694 481,692 336,185 336,027 Restricted stock Level 3 4,050 4,050 2,739 2,739 Loans, net Level 3 2,554,868 2,548,050 2,475,753 2,494,686 Investments in unconsolidated subsidiaries Level 3 1,165 1,165 1,165 1,165 Accrued interest receivable Level 2 16,881 16,881 14,901 14,901 Financial liabilities: Time deposits Level 3 269,108 260,220 328,208 327,779 Securities sold under agreements to repurchase Level 2 48,130 48,130 61,256 61,256 Subordinated notes Level 3 39,376 37,667 39,316 41,602 Junior subordinated debentures Level 3 37,763 36,210 37,714 33,640 Accrued interest payable Level 2 607 607 1,043 1,043 The Company estimated the fair value of lending related commitments as described in Note 14 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	9 Months Ended
COMMITMENTS AND CONTINGENCIES	Sep. 30, 2022
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES	NOTE 14 – 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 September 30, 2022 December 31, 2021 (dollars in thousands) Commitments to extend credit $ 667,788 $ 609,947 Standby letters of credit 16,918 12,960 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 In the normal course of business, the Company, or its subsidiaries, are involved in various legal proceedings. In the opinion of management, any liability resulting from pending proceedings would not be expected to have a material adverse effect on the Company's consolidated financial statements. DeBaere, et al v. Heartland Bank and Trust Company The Bank is a defendant in a purported class action lawsuit filed in June 2020, in the Circuit Court of Cook County, Illinois, DeBaere, et al v. Heartland Bank and Trust Company. The plaintiff, a customer of the Bank, alleges that the Bank breached its contract with the plaintiff by (1) charging multiple insufficient funds fees or overdraft fees on a single customer-initiated transaction, and (2) charging overdraft fees for transactions that were authorized on a positive account balance, but when settled, settled into a negative balance. The Bank intends to vigorously defend the lawsuit. The Company does not believe a loss is probable at this time, as that term is used in assessing loss contingencies. Accordingly, consistent with the authoritative guidance in the evaluation of contingencies, an accrual related to this matter has not been recorded. However, an unfavorable outcome is reasonably possible, and the Company would not characterize the chance of any loss as “remote.” Given the early stage of this case, the Company cannot yet offer an opinion on the estimated range of any possible loss, in the event of an unfavorable opinion. Miller, et al v. State Bank of Lincoln and Heartland Bank and Trust Company The Bank is a defendant in a purported class action lawsuit filed in May 2020, in the Circuit Court of Logan County, Illinois, Miller, et al v. State Bank of Lincoln and the Bank. The plaintiff, a customer of State Bank of Lincoln, which previously merged with the Bank, alleges that the Bank breached its contract with the plaintiff by charging multiple insufficient funds fees or overdraft fees on a single customer-initiated transaction. The Bank intends to vigorously defend the lawsuit. The Company does not believe a loss is probable at this time, as that term is used in assessing loss contingencies. Accordingly, consistent with the authoritative guidance in the evaluation of contingencies, an accrual related to this matter has not been recorded. However, an unfavorable outcome is reasonably possible, and the Company would not characterize the chance of any loss as “remote.” Given the early stage of this case, the Company cannot yet offer an opinion on the estimated range of any possible loss, in the event of an unfavorable opinion.

ACCOUNTING POLICIES (Policies)

ACCOUNTING POLICIES (Policies)	9 Months Ended
ACCOUNTING POLICIES (Policies)	Sep. 30, 2022
ACCOUNTING POLICIES
Basis of Consolidation	Basis of Presentation HBT Financial, Inc. (“HBT Financial” or the “Company”) is headquartered in Bloomington, Illinois and is the holding company for Heartland Bank and Trust Company (“Heartland Bank” or the “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 and Eastern Iowa. Additionally, the Company is subject to the regulations of certain federal and state agencies and undergoes periodic examinations by those regulatory agencies. The unaudited consolidated financial statements, including the notes thereto, have been prepared in accordance with accounting principles generally accepted in the United States (“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 SEC. 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 for the year ended December 31, 2021, filed with the SEC on March 11, 2022. The unaudited consolidated financial statements include all 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 may remain an emerging growth company until the earliest to occur of: (1) the end of the fiscal year following the fifth anniversary of the completion of our initial public offering, which is December 31, 2024, (2) the last day of the fiscal year in which the Company has $1.07 billion or more in annual revenues, (3) the date on which the Company is deemed to be a “large accelerated filer” under the Securities Exchange Act of 1934, as amended, (the “Exchange Act”) or (4) the date on which the Company has, during the previous three year period, issued, publicly or privately, more than $1.0 billion in non-convertible debt securities. 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.
Use of Estimates	Use of Estimates The accompanying consolidated financial statements have been prepared in conformity with GAAP. 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 and fair value of assets acquired and liabilities assumed in business combinations.
Segment Reporting	Segment Reporting The Company’s operations consist of one reportable segment. The Company’s chief operating decision maker evaluates the operations of the Company using consolidated information for purposes of allocating resources and assessing performance.
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 The Company has formed an implementation team to assess the impact that ASU 2016-13 will have on the Company’s consolidated financial statements. For the majority of loans evaluated on a pooled basis, the Company anticipates using a discounted cash flow method which considers instrument level cash flows adjusted for, among other factors, prepayment speeds, probability of default, and loss given default. The Company also anticipates using regression analysis of historical internal and peer data to determine which variables are best suited to be economic variables utilized when modeling lifetime probability of default and loss given default. The ultimate impact to the Company’s financial condition and results of operations of ASU 2016-13, at both adoption and each subsequent reporting period, is highly dependent on credit quality, macroeconomic forecasts and conditions, the composition of our loan and securities portfolios, along with other management judgments. 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,

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	9 Months Ended
ACQUISITIONS (Tables)	Sep. 30, 2022
ACQUISITIONS
Schedule of recognized identified assets acquired and liabilities assumed	The fair value of the assets acquired and liabilities assumed from NXT on the acquisition date were as follows (dollars in thousands): Fair Value Assets acquired: Cash and cash equivalents $ 5,862 Interest-bearing time deposits with banks 739 Debt securities 18,295 Equity securities with readily determinable fair value 43 Restricted stock 796 Loans 194,576 Bank owned life insurance 7,352 Bank premises and equipment 3,667 Core deposit intangible assets 199 Mortgage servicing rights 370 Accrued interest receivable 886 Other assets 1,340 Total assets acquired 234,125 Liabilities assumed: Deposits 181,586 Securities sold under agreements to repurchase 4,080 FHLB advances 12,625 Other liabilities 1,633 Total liabilities assumed 199,924 Net assets acquired $ 34,201 Consideration paid: Cash $ 10,633 Common stock 29,270 Total consideration paid $ 39,903 Goodwill $ 5,702 The following table presents the acquired non-impaired loans as of the acquisition date (dollars in thousands): Fair Value $ 194,576 Gross contractual amounts receivable 196,104 Estimate of contractual cash flows not expected to be collected 1,045
Business acquisition, pro forma information	Pro Forma Three Months Ended Nine Months Ended (dollars in thousands, except per share data) September 30, 2021 September 30, 2021 Total revenues (net interest income and noninterest income) $ 41,296 $ 124,460 Net income 14,093 44,285 Earnings per share - basic 0.48 1.52 Earnings per share - diluted 0.48 1.51

SECURITIES (Tables)

SECURITIES (Tables)	9 Months Ended
SECURITIES (Tables)	Sep. 30, 2022
SECURITIES
Schedule of amortized cost and fair values of securities available-for-sale, with gross unrealized gains and losses	September 30, 2022 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Available-for-sale: (dollars in thousands) U.S. Treasury $ 169,895 $ — $ (16,323) $ 153,572 U.S. government agency 61,428 1 (4,406) 57,023 Municipal 279,711 4 (37,804) 241,911 Mortgage-backed: Agency residential 223,738 20 (18,851) 204,907 Agency commercial 154,677 1 (17,302) 137,376 Corporate 62,695 16 (3,760) 58,951 Total available-for-sale 952,144 42 (98,446) 853,740 Held-to-maturity: U.S. government agency 88,418 — (10,342) 78,076 Municipal 42,844 50 (1,357) 41,537 Mortgage-backed: Agency residential 105,330 — (6,491) 98,839 Agency commercial 310,102 — (46,862) 263,240 Total held-to-maturity 546,694 50 (65,052) 481,692 Total debt securities $ 1,498,838 $ 92 $ (163,498) $ 1,335,432 December 31, 2021 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Available-for-sale: (dollars in thousands) U.S. Treasury $ 109,002 $ 328 $ (354) $ 108,976 U.S. government agency 129,269 1,303 (2,467) 128,105 Municipal 293,837 6,144 (2,904) 297,077 Mortgage-backed: Agency residential 178,236 2,149 (919) 179,466 Agency commercial 164,875 1,234 (2,048) 164,061 Corporate 63,141 1,638 (296) 64,483 Total available-for-sale 938,360 12,796 (8,988) 942,168 Held-to-maturity: U.S. government agency 12,349 42 (51) 12,340 Municipal 15,666 809 — 16,475 Mortgage-backed: Agency residential 20,555 196 (102) 20,649 Agency commercial 287,615 1,749 (2,801) 286,563 Total held-to-maturity 336,185 2,796 (2,954) 336,027 Total debt securities $ 1,274,545 $ 15,592 $ (11,942) $ 1,278,195
Schedule of certain debt securities from the available-for-sale category to the held-to-maturity category	March 31, 2022 June 30, 2021 March 31, 2021 Amortized Amortized Amortized Cost Fair Value Cost Fair Value Cost Fair Value (dollars in thousands) U.S. government agency $ 78,841 $ 71,048 $ — $ — $ 7,593 $ 7,323 Mortgage-backed: Agency residential 8,175 7,651 — — 8,776 8,536 Agency commercial 27,834 25,432 99,271 99,275 118,792 113,861 Total $ 114,850 $ 104,131 $ 99,271 $ 99,275 $ 135,161 $ 129,720
Schedule of amortized cost and fair value of securities by contractual maturity	Available-for-Sale Held-to-Maturity Amortized Cost Fair Value Amortized Cost Fair Value (dollars in thousands) Due in 1 year or less $ 12,575 $ 12,506 $ 2,492 $ 2,494 Due after 1 year through 5 years 235,438 220,181 25,934 24,801 Due after 5 years through 10 years 250,903 216,108 79,440 71,686 Due after 10 years 74,813 62,662 23,396 20,632 Mortgage-backed: Agency residential 223,738 204,907 105,330 98,839 Agency commercial 154,677 137,376 310,102 263,240 Total $ 952,144 $ 853,740 $ 546,694 $ 481,692
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 September 30, 2022 Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Available-for-sale: (dollars in thousands) U.S. Treasury $ (15,245) $ 144,691 $ (1,078) $ 8,881 $ (16,323) $ 153,572 U.S. government agency (3,831) 51,799 (575) 3,394 (4,406) 55,193 Municipal (16,557) 157,183 (21,247) 82,613 (37,804) 239,796 Mortgage-backed: Agency residential (15,072) 176,467 (3,779) 24,808 (18,851) 201,275 Agency commercial (9,292) 89,378 (8,010) 45,474 (17,302) 134,852 Corporate (2,527) 53,213 (1,233) 3,730 (3,760) 56,943 Total available-for-sale (62,524) 672,731 (35,922) 168,900 (98,446) 841,631 Held-to-maturity: U.S. government agency (2,316) 20,176 (8,026) 57,900 (10,342) 78,076 Municipal (1,357) 35,066 — — (1,357) 35,066 Mortgage-backed: Agency residential (6,320) 97,876 (171) 963 (6,491) 98,839 Agency commercial (24,304) 150,113 (22,558) 113,127 (46,862) 263,240 Total held-to-maturity (34,297) 303,231 (30,755) 171,990 (65,052) 475,221 Total debt securities $ (96,821) $ 975,962 $ (66,677) $ 340,890 $ (163,498) $ 1,316,852 Investments in a Continuous Unrealized Loss Position Less than 12 Months 12 Months or More Total December 31, 2021 Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Available-for-sale: (dollars in thousands) U.S. Treasury $ (354) $ 68,410 $ — $ — $ (354) $ 68,410 U.S. government agency (2,183) 80,219 (284) 5,578 (2,467) 85,797 Municipal (2,018) 89,424 (886) 17,327 (2,904) 106,751 Mortgage-backed: Agency residential (851) 91,703 (68) 4,305 (919) 96,008 Agency commercial (1,921) 113,111 (127) 6,443 (2,048) 119,554 Corporate (7) 2,737 (289) 4,671 (296) 7,408 Total available-for-sale (7,334) 445,604 (1,654) 38,324 (8,988) 483,928 Held-to-maturity: U.S. government agency (51) 4,949 — — (51) 4,949 Mortgage-backed: Agency residential (102) 14,932 — — (102) 14,932 Agency commercial (2,673) 174,428 (128) 2,776 (2,801) 177,204 Total held-to-maturity (2,826) 194,309 (128) 2,776 (2,954) 197,085 Total debt securities $ (10,160) $ 639,913 $ (1,782) $ 41,100 $ (11,942) $ 681,013
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 September 30, 2022 Fair Value Fair Value (dollars in thousands) Initial cost $ 3,142 $ 2,142 Cumulative net unrealized losses (146) (165) Carrying value $ 2,996 $ 1,977 Readily No Readily Determinable Determinable December 31, 2021 Fair Value Fair Value (dollars in thousands) Initial cost $ 3,142 $ 2,092 Cumulative net unrealized gains (losses) 301 (165) Carrying value $ 3,443 $ 1,927
Schedule of unrealized gains (losses) on equity securities	Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 (dollars in thousands) Readily determinable fair value $ (107) $ 28 $ (447) $ 74 No readily determinable fair value — — — — Unrealized gains (losses) on equity securities $ (107) $ 28 $ (447) $ 74

LOANS AND THE ALLOWANCE FOR L_2

LOANS AND THE ALLOWANCE FOR LOAN LOSSES (Tables)	9 Months Ended
LOANS AND THE ALLOWANCE FOR LOAN LOSSES (Tables)	Sep. 30, 2022
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Summary of Loans	September 30, 2022 December 31, 2021 (dollars in thousands) Commercial and industrial $ 240,671 $ 286,946 Agricultural and farmland 245,234 247,796 Commercial real estate - owner occupied 226,524 234,544 Commercial real estate - non-owner occupied 718,089 684,023 Multi-family 260,630 263,911 Construction and land development 364,290 298,048 One-to-four family residential 328,667 327,837 Municipal, consumer, and other 195,823 156,584 Loans, before allowance for loan losses 2,579,928 2,499,689 Allowance for loan losses (25,060) (23,936) Loans, net of allowance for loan losses $ 2,554,868 $ 2,475,753 Paycheck Protection Program (PPP) loans (included above) Commercial and industrial $ 65 $ 28,404 Agricultural and farmland — 913 Municipal, consumer, and other — 171 Total PPP loans $ 65 $ 29,488
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 September 30, 2022 Industrial Farmland Occupied Occupied Multi-Family Development Residential Other Total Allowance for loan losses: (dollars in thousands) Balance, June 30, 2022 $ 2,981 $ 924 $ 1,224 $ 6,611 $ 1,375 $ 4,059 $ 1,696 $ 5,864 $ 24,734 Provision for loan losses 14 (83) (65) 268 (52) 316 (78) 66 386 Charge-offs (17) — — — — — (18) (187) (222) Recoveries 6 — 1 3 — 1 60 91 162 Balance, September 30, 2022 $ 2,984 $ 841 $ 1,160 $ 6,882 $ 1,323 $ 4,376 $ 1,660 $ 5,834 $ 25,060 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 September 30, 2021 Industrial Farmland Occupied Occupied Multi-Family Development Residential Other Total Allowance for loan losses: (dollars in thousands) Balance, June 30, 2021 $ 2,717 $ 781 $ 1,946 $ 9,825 $ 2,009 $ 3,924 $ 1,520 $ 3,785 $ 26,507 Provision for loan losses 162 (26) (395) (710) (228) 413 (499) (384) (1,667) Charge-offs (135) — — — — — (48) (95) (278) Recoveries 114 — — 6 — 1 135 43 299 Balance, September 30, 2021 $ 2,858 $ 755 $ 1,551 $ 9,121 $ 1,781 $ 4,338 $ 1,108 $ 3,349 $ 24,861 Commercial Commercial Municipal, Commercial Agricultural Real Estate Real Estate Construction One-to-four Consumer, and and Owner Non-owner and Land Family and Nine Months Ended September 30, 2022 Industrial Farmland Occupied Occupied Multi-Family Development Residential Other Total Allowance for loan losses: (dollars in thousands) Balance, December 31, 2021 $ 2,440 $ 845 $ 1,840 $ 8,145 $ 1,263 $ 4,914 $ 1,311 $ 3,178 $ 23,936 Provision for loan losses (189) (4) (781) (1,536) 60 (539) 93 2,843 (53) Charge-offs (22) — — — — — (67) (426) (515) Recoveries 755 — 101 273 — 1 323 239 1,692 Balance, September 30, 2022 $ 2,984 $ 841 $ 1,160 $ 6,882 $ 1,323 $ 4,376 $ 1,660 $ 5,834 $ 25,060 Commercial Commercial Municipal, Commercial Agricultural Real Estate Real Estate Consumer and and Owner Non-owner Construction Residential and Nine Months Ended September 30, 2021 Industrial Farmland Occupied Occupied Multi-Family and Land Real Estate 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 (1,062) (38) (1,590) (2,149) (176) (164) (742) (1,313) (7,234) Charge-offs (430) — — — — — (161) (284) (875) Recoveries 421 — — 19 — 270 210 212 1,132 Balance, September 30, 2021 $ 2,858 $ 755 $ 1,551 $ 9,121 $ 1,781 $ 4,338 $ 1,108 $ 3,349 $ 24,861 Commercial Commercial Municipal, Commercial Agricultural Real Estate Real Estate Construction One-to-four Consumer, and and Owner Non-owner and Land Family and September 30, 2022 Industrial Farmland Occupied Occupied Multi-Family Development Residential Other Total Loan balances: (dollars in thousands) Collectively evaluated for impairment $ 237,839 $ 244,236 $ 210,461 $ 675,121 $ 260,060 $ 361,305 $ 315,209 $ 183,181 $ 2,487,412 Individually evaluated for impairment 2,702 385 11,607 31,553 — 2,007 8,427 12,622 69,303 Acquired with deteriorated credit quality 130 613 4,456 11,415 570 978 5,031 20 23,213 Total $ 240,671 $ 245,234 $ 226,524 $ 718,089 $ 260,630 $ 364,290 $ 328,667 $ 195,823 $ 2,579,928 Allowance for loan losses: Collectively evaluated for impairment $ 2,826 $ 841 $ 930 $ 4,416 $ 1,320 $ 4,374 $ 1,619 $ 2,342 $ 18,668 Individually evaluated for impairment 158 — 208 2,465 — — 39 3,492 6,362 Acquired with deteriorated credit quality — — 22 1 3 2 2 — 30 Total $ 2,984 $ 841 $ 1,160 $ 6,882 $ 1,323 $ 4,376 $ 1,660 $ 5,834 $ 25,060 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, 2021 Industrial Farmland Occupied Occupied Multi-Family Development Residential Other Total Loan balances: (dollars in thousands) Collectively evaluated for impairment $ 272,064 $ 247,021 $ 216,794 $ 641,555 $ 262,701 $ 293,548 $ 314,807 $ 143,510 $ 2,392,000 Individually evaluated for impairment 14,744 12 12,332 29,575 — 2,018 6,897 13,041 78,619 Acquired with deteriorated credit quality 138 763 5,418 12,893 1,210 2,482 6,133 33 29,070 Total $ 286,946 $ 247,796 $ 234,544 $ 684,023 $ 263,911 $ 298,048 $ 327,837 $ 156,584 $ 2,499,689 Allowance for loan losses: Collectively evaluated for impairment $ 2,253 $ 845 $ 1,480 $ 5,138 $ 1,259 $ 4,895 $ 1,099 $ 1,302 $ 18,271 Individually evaluated for impairment 187 — 327 2,999 — — 210 1,875 5,598 Acquired with deteriorated credit quality — — 33 8 4 19 2 1 67 Total $ 2,440 $ 845 $ 1,840 $ 8,145 $ 1,263 $ 4,914 $ 1,311 $ 3,178 $ 23,936
Schedule of loans individually evaluated for impairment by category	Unpaid Principal Recorded Related September 30, 2022 Balance Investment Allowance With an allowance recorded: (dollars in thousands) Commercial and industrial $ 256 $ 256 $ 158 Agricultural and farmland — — — Commercial real estate - owner occupied 734 734 208 Commercial real estate - non-owner occupied 14,359 14,348 2,465 Multi-family — — — Construction and land development — — — One-to-four family residential 350 340 39 Municipal, consumer, and other 8,223 8,201 3,492 Total $ 23,922 $ 23,879 $ 6,362 With no related allowance: Commercial and industrial $ 2,460 $ 2,446 $ — Agricultural and farmland 385 385 — Commercial real estate - owner occupied 11,030 10,873 — Commercial real estate - non-owner occupied 17,284 17,205 — Multi-family — — — Construction and land development 2,107 2,007 — One-to-four family residential 9,403 8,087 — Municipal, consumer, and other 4,455 4,421 — Total $ 47,124 $ 45,424 $ — Total loans individually evaluated for impairment: Commercial and industrial $ 2,716 $ 2,702 $ 158 Agricultural and farmland 385 385 — Commercial real estate - owner occupied 11,764 11,607 208 Commercial real estate - non-owner occupied 31,643 31,553 2,465 Multi-family — — — Construction and land development 2,107 2,007 — One-to-four family residential 9,753 8,427 39 Municipal, consumer, and other 12,678 12,622 3,492 Total $ 71,046 $ 69,303 $ 6,362 Unpaid Principal Recorded Related December 31, 2021 Balance Investment Allowance With an allowance recorded: (dollars in thousands) Commercial and industrial $ 303 $ 303 $ 187 Agricultural and farmland — — — Commercial real estate - owner occupied 3,013 3,013 327 Commercial real estate - non-owner occupied 14,912 14,893 2,999 Multi-family — — — Construction and land development — — — One-to-four family residential 1,421 1,314 210 Municipal, consumer, and other 8,523 8,498 1,875 Total $ 28,172 $ 28,021 $ 5,598 With no related allowance: Commercial and industrial $ 14,452 $ 14,441 $ — Agricultural and farmland 12 12 — Commercial real estate - owner occupied 9,534 9,319 — Commercial real estate - non-owner occupied 14,755 14,682 — Multi-family — — — Construction and land development 2,112 2,018 — One-to-four family residential 7,129 5,583 — Municipal, consumer, and other 4,603 4,543 — Total $ 52,597 $ 50,598 $ — Total loans individually evaluated for impairment: Commercial and industrial $ 14,755 $ 14,744 $ 187 Agricultural and farmland 12 12 — Commercial real estate - owner occupied 12,547 12,332 327 Commercial real estate - non-owner occupied 29,667 29,575 2,999 Multi-family — — — Construction and land development 2,112 2,018 — One-to-four family residential 8,550 6,897 210 Municipal, consumer, and other 13,126 13,041 1,875 Total $ 80,769 $ 78,619 $ 5,598 Three Months Ended September 30, 2022 2021 Average Interest Average Interest Recorded Income Recorded Income Investment Recognized Investment Recognized With an allowance recorded: (dollars in thousands) Commercial and industrial $ 258 $ 5 $ 1,925 $ 26 Agricultural and farmland — — — — Commercial real estate - owner occupied 739 11 3,192 45 Commercial real estate - non-owner occupied 14,441 185 15,136 194 Multi-family — — — — Construction and land development — — — — One-to-four family residential 349 2 1,827 18 Municipal, consumer, and other 8,254 66 8,641 40 Total $ 24,041 $ 269 $ 30,721 $ 323 With no related allowance: Commercial and industrial $ 3,894 $ 41 $ 7,137 $ 115 Agricultural and farmland 425 5 385 6 Commercial real estate - owner occupied 11,651 141 6,551 81 Commercial real estate - non-owner occupied 17,220 369 15,283 101 Multi-family — — — — Construction and land development 2,010 57 2,439 1 One-to-four family residential 8,119 99 5,713 45 Municipal, consumer, and other 4,457 44 4,635 21 Total $ 47,776 $ 756 $ 42,143 $ 370 Total loans individually evaluated for impairment: Commercial and industrial $ 4,152 $ 46 $ 9,062 $ 141 Agricultural and farmland 425 5 385 6 Commercial real estate - owner occupied 12,390 152 9,743 126 Commercial real estate - non-owner occupied 31,661 554 30,419 295 Multi-family — — — — Construction and land development 2,010 57 2,439 1 One-to-four family residential 8,468 101 7,540 63 Municipal, consumer, and other 12,711 110 13,276 61 Total $ 71,817 $ 1,025 $ 72,864 $ 693 Nine Months Ended September 30, 2022 2021 Average Interest Average Interest Recorded Income Recorded Income Investment Recognized Investment Recognized With an allowance recorded: (dollars in thousands) Commercial and industrial $ 272 $ 13 $ 2,025 $ 84 Agricultural and farmland — — 110 4 Commercial real estate - owner occupied 1,297 55 3,060 132 Commercial real estate - non-owner occupied 14,631 556 17,001 599 Multi-family — — — — Construction and land development — — 741 27 One-to-four family residential 513 11 2,209 64 Municipal, consumer, and other 8,368 151 8,722 119 Total $ 25,081 $ 786 $ 33,868 $ 1,029 With no related allowance: Commercial and industrial $ 12,793 $ 397 $ 5,222 $ 205 Agricultural and farmland 305 8 384 17 Commercial real estate - owner occupied 11,524 388 7,216 273 Commercial real estate - non-owner occupied 16,894 907 8,880 239 Multi-family — — 580 10 Construction and land development 2,012 105 2,060 27 One-to-four family residential 8,341 240 6,427 142 Municipal, consumer, and other 4,493 98 4,695 65 Total $ 56,362 $ 2,143 $ 35,464 $ 978 Total loans individually evaluated for impairment: Commercial and industrial $ 13,065 $ 410 $ 7,247 $ 289 Agricultural and farmland 305 8 494 21 Commercial real estate - owner occupied 12,821 443 10,276 405 Commercial real estate - non-owner occupied 31,525 1,463 25,881 838 Multi-family — — 580 10 Construction and land development 2,012 105 2,801 54 One-to-four family residential 8,854 251 8,636 206 Municipal, consumer, and other 12,861 249 13,417 184 Total $ 81,443 $ 2,929 $ 69,332 $ 2,007
Schedule of recorded investment on past due basis	Accruing Interest 30 - 89 Days 90+ Days Total September 30, 2022 Current Past Due Past Due Nonaccrual Loans (dollars in thousands) Commercial and industrial $ 240,391 $ 191 $ — $ 89 $ 240,671 Agricultural and farmland 245,234 — — — 245,234 Commercial real estate - owner occupied 226,424 100 — — 226,524 Commercial real estate - non-owner occupied 717,085 — — 1,004 718,089 Multi-family 260,630 — — — 260,630 Construction and land development 362,367 1,429 — 494 364,290 One-to-four family residential 325,926 1,159 22 1,560 328,667 Municipal, consumer, and other 195,651 113 — 59 195,823 Total $ 2,573,708 $ 2,992 $ 22 $ 3,206 $ 2,579,928 Accruing Interest 30 - 89 Days 90+ Days Total December 31, 2021 Current Past Due Past Due Nonaccrual Loans (dollars in thousands) Commercial and industrial $ 286,563 $ 9 $ — $ 374 $ 286,946 Agricultural and farmland 247,772 24 — — 247,796 Commercial real estate - owner occupied 234,441 103 — — 234,544 Commercial real estate - non-owner occupied 683,029 823 — 171 684,023 Multi-family 263,911 — — — 263,911 Construction and land development 297,465 64 — 519 298,048 One-to-four family residential 325,780 383 32 1,642 327,837 Municipal, consumer, and other 156,297 214 16 57 156,584 Total $ 2,495,258 $ 1,620 $ 48 $ 2,763 $ 2,499,689
Schedule of loans by category risk ratings	September 30, 2022 Pass Pass-Watch Substandard Doubtful Total (dollars in thousands) Commercial and industrial $ 229,239 $ 8,730 $ 2,702 $ — $ 240,671 Agricultural and farmland 230,636 13,601 997 — 245,234 Commercial real estate - owner occupied 202,250 13,465 10,809 — 226,524 Commercial real estate - non-owner occupied 673,481 10,336 34,272 — 718,089 Multi-family 255,665 4,965 — — 260,630 Construction and land development 361,954 329 2,007 — 364,290 One-to-four family residential 313,608 6,074 8,985 — 328,667 Municipal, consumer, and other 182,902 298 12,623 — 195,823 Total $ 2,449,735 $ 57,798 $ 72,395 $ — $ 2,579,928 December 31, 2021 Pass Pass-Watch Substandard Doubtful Total (dollars in thousands) Commercial and industrial $ 267,088 $ 5,114 $ 14,744 $ — $ 286,946 Agricultural and farmland 221,898 25,213 685 — 247,796 Commercial real estate - owner occupied 198,862 24,098 11,584 — 234,544 Commercial real estate - non-owner occupied 619,212 32,372 32,439 — 684,023 Multi-family 241,362 22,549 — — 263,911 Construction and land development 268,556 27,474 2,018 — 298,048 One-to-four family residential 308,951 11,221 7,665 — 327,837 Municipal, consumer, and other 143,299 244 13,041 — 156,584 Total $ 2,269,228 $ 148,285 $ 82,176 $ — $ 2,499,689
Schedule of changes in the accretable yield for loans acquired with deteriorated credit quality	Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 (dollars in thousands) Beginning balance $ 537 $ 1,350 $ 413 $ 1,397 Reclassification from non-accretable difference 283 280 500 433 Accretion income (58) (86) (151) (286) Ending balance $ 762 $ 1,544 $ 762 $ 1,544

LOAN SERVICING (Tables)

LOAN SERVICING (Tables)	9 Months Ended
LOAN SERVICING (Tables)	Sep. 30, 2022
LOAN SERVICING
Schedule of activity in mortgage servicing rights	Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 (dollars in thousands) Beginning balance $ 10,089 $ 7,319 $ 7,994 $ 5,934 Capitalized servicing rights 144 241 451 994 Fair value adjustment: Attributable to payments and principal reductions (362) (451) (1,048) (1,408) Attributable to changes in valuation inputs and assumptions 569 250 3,043 1,839 Total fair value adjustment 207 (201) 1,995 431 Ending balance $ 10,440 $ 7,359 $ 10,440 $ 7,359

FORECLOSED ASSETS (Tables)

FORECLOSED ASSETS (Tables)	9 Months Ended
FORECLOSED ASSETS (Tables)	Sep. 30, 2022
FORECLOSED ASSETS
Schedule of foreclosed assets activity	Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 (dollars in thousands) Beginning balance $ 2,891 $ 7,757 $ 3,278 $ 4,168 Transfers from loans — — 27 4,856 Proceeds from sales (29) (354) (476) (1,583) Sales through loan origination — (74) — (252) Net gain on sales 20 108 118 321 Direct write-downs (245) (122) (310) (195) Ending balance $ 2,637 $ 7,315 $ 2,637 $ 7,315
Schedule of gains (losses) on foreclosed assets	Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 (dollars in thousands) Direct write-downs $ (245) $ (122) $ (310) $ (195) Net gain on sales 20 108 118 321 Gains (losses) on foreclosed assets $ (225) $ (14) $ (192) $ 126

DEPOSITS (Tables)

DEPOSITS (Tables)	9 Months Ended
DEPOSITS (Tables)	Sep. 30, 2022
DEPOSITS
Schedule of Company's interest-bearing deposits	September 30, 2022 December 31, 2021 (dollars in thousands) Noninterest-bearing deposits $ 1,017,710 $ 1,087,659 Interest-bearing deposits: Interest-bearing demand 1,131,284 1,105,949 Money market 584,202 583,198 Savings 641,139 633,171 Time 269,108 328,208 Total interest-bearing deposits 2,625,733 2,650,526 Total deposits $ 3,643,443 $ 3,738,185
Schedule of interest expense on deposits	Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 (dollars in thousands) Interest-bearing demand $ 144 $ 129 $ 430 $ 373 Money market 203 96 434 279 Savings 53 48 155 135 Time 187 291 643 1,034 Total interest expense on deposits $ 587 $ 564 $ 1,662 $ 1,821

DERIVATIVE FINANCIAL INSTRUME_2

DERIVATIVE FINANCIAL INSTRUMENTS (Tables)	9 Months Ended
DERIVATIVE FINANCIAL INSTRUMENTS (Tables)	Sep. 30, 2022
DERIVATIVE FINANCIAL INSTRUMENTS
Summary of fair values of Company's derivative instrument assets and liabilities related to interest rate swap contracts	September 30, 2022 December 31, 2021 Notional Fair Notional Fair Amount Value Amount Value (dollars in thousands) Fair value recorded in other assets $ 17,000 $ 614 $ — $ — Fair value recorded in other liabilities — — 17,000 (680)
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 (loss) to income other comprehensive income Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 Designated as cash flow hedges: (dollars in thousands) Junior subordinated debentures interest expense $ (14) $ (105) $ (177) $ (306)
Summary of interest rate swap agreements not designated as hedging instruments	September 30, 2022 December 31, 2021 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 $ — $ — $ 112,041 $ 8,622 Interest rate swaps with a financial institution counterparty 109,468 7,431 3,880 75 Total fair value recorded in other assets $ 109,468 $ 7,431 $ 115,921 $ 8,697 Fair value recorded in other liabilities: Interest rate swaps with a commercial borrower counterparty $ 109,468 $ (7,431) $ 3,880 $ (75) Interest rate swaps with a financial institution counterparty — — 112,041 (8,622) Total fair value recorded in other liabilities $ 109,468 $ (7,431) $ 115,921 $ (8,697)
Summary of the effect of interest rate contracts not designated as hedging instruments recognized in other noninterest income	Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 Not designated as hedging instruments: (dollars in thousands) Gross gains $ 5,209 $ 1,843 $ 15,303 $ 12,281 Gross losses (5,209) (1,843) (15,303) (12,281) Net gains (losses) $ — $ — $ — $ —

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)	9 Months Ended
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)	Sep. 30, 2022
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
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 September 30, 2022 Balance, June 30, 2022 $ (42,061) $ (10,656) $ (103) $ (52,820) Other comprehensive income (loss) before reclassifications (35,358) — 374 (34,984) Reclassifications — 504 14 518 Other comprehensive income (loss), before tax (35,358) 504 388 (34,466) Income tax expense (benefit) (10,079) 144 111 (9,824) Other comprehensive income (loss), after tax (25,279) 360 277 (24,642) Balance, September 30, 2022 $ (67,340) $ (10,296) $ 174 $ (77,462) Three Months Ended September 30, 2021 Balance, June 30, 2021 $ 13,260 $ (3,840) $ (1,034) $ 8,386 Other comprehensive loss before reclassifications (5,676) — (8) (5,684) Reclassifications — 195 105 300 Other comprehensive income (loss), before tax (5,676) 195 97 (5,384) Income tax expense (1,618) 56 27 (1,535) Other comprehensive income (loss), after tax (4,058) 139 70 (3,849) Balance, September 30, 2021 $ 9,202 $ (3,701) $ (964) $ 4,537 Unrealized Gains (Losses) on Debt Securities Available-for-Sale Held-to-Maturity Derivatives Total (dollars in thousands) Nine Months Ended September 30, 2022 Balance, December 31, 2021 $ 5,736 $ (3,514) $ (751) $ 1,471 Transfer from available-for-sale to held-to-maturity 7,664 (7,664) — — Other comprehensive income (loss) before reclassifications (112,931) — 1,117 (111,814) Reclassifications — 1,234 177 1,411 Other comprehensive income (loss), before tax (112,931) 1,234 1,294 (110,403) Income tax expense (benefit) (32,191) 352 369 (31,470) Other comprehensive income (loss), after tax (80,740) 882 925 (78,933) Balance, September 30, 2022 $ (67,340) $ (10,296) $ 174 $ (77,462) Nine Months Ended September 30, 2021 Balance, December 31, 2020 $ 19,578 $ (118) $ (1,307) $ 18,153 Transfer from available-for-sale to held-to-maturity 3,887 (3,887) — — Other comprehensive income (loss) before reclassifications (19,950) — 173 (19,777) Reclassifications — 426 306 732 Other comprehensive income (loss), before tax (19,950) 426 479 (19,045) Income tax expense (benefit) (5,687) 122 136 (5,429) Other comprehensive income (loss), after tax (14,263) 304 343 (13,616) Balance, September 30, 2021 $ 9,202 $ (3,701) $ (964) $ 4,537

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	9 Months Ended
EARNINGS PER SHARE (Tables)	Sep. 30, 2022
EARNINGS PER SHARE
Schedule of reconciliations of the numerators and denominators used to compute basic and diluted earnings	Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 (dollars in thousands) Numerator: Net income $ 15,627 $ 13,715 $ 43,316 $ 42,677 Earnings allocated to participating securities (17) (25) (51) (81) Numerator for earnings per share - basic and diluted $ 15,610 $ 13,690 $ 43,265 $ 42,596 Denominator: Weighted average common shares outstanding 28,787,662 27,340,926 28,887,757 27,377,809 Dilutive effect of outstanding restricted stock units 72,643 13,921 56,761 11,412 Weighted average common shares outstanding, including all dilutive potential shares 28,860,305 27,354,847 28,944,518 27,389,221 Earnings per share - Basic $ 0.54 $ 0.50 $ 1.50 $ 1.56 Earnings per share - Diluted $ 0.54 $ 0.50 $ 1.49 $ 1.56

STOCK-BASED COMPENSATION PLANS

STOCK-BASED COMPENSATION PLANS (Tables)	9 Months Ended
STOCK-BASED COMPENSATION PLANS (Tables)	Sep. 30, 2022
STOCK-BASED COMPENSATION PLANS
Summary of stock-based compensation expense	Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 (dollars in thousands) Restricted stock units $ 230 $ 153 $ 1,072 $ 415 Performance restricted stock units 119 75 530 123 Total awards classified as equity 349 228 1,602 538 Stock appreciation rights 51 (87) 35 43 Total stock-based compensation expense $ 400 $ 141 $ 1,637 $ 581
Schedule of the summary of outstanding restricted stock units	Three Months Ended September 30, 2022 2021 Weighted Weighted Average Average Restricted Grant Date Restricted Grant Date Stock Units Fair Value Stock Units Fair Value Beginning balance 120,631 $ 17.98 99,597 $ 17.37 Granted — — — — Vested — — — — Forfeited (1,328) 18.35 — — Ending balance 119,303 $ 17.98 99,597 $ 17.37 Nine Months Ended September 30, 2022 2021 Weighted Weighted Average Average Restricted Grant Date Restricted Grant Date Stock Units Fair Value Stock Units Fair Value Beginning balance 109,244 $ 17.27 71,000 $ 18.98 Granted 46,312 19.11 50,347 15.72 Vested (34,925) 17.26 (20,225) 18.86 Forfeited (1,328) 18.35 (1,525) 18.11 Ending balance 119,303 $ 17.98 99,597 $ 17.37
Schedule of the status of stock appreciation rights and changes	Three Months Ended September 30, 2022 2021 Stock Appreciation Rights Outstanding Weighted Average Grant Date Assigned Value Stock Appreciation Rights Outstanding Weighted Average Grant Date Assigned Value Beginning balance 91,800 $ 16.32 97,920 $ 16.32 Granted — — — — Exercised — — — — Expired — — — — Forfeited — — — — Ending balance 91,800 $ 16.32 97,920 $ 16.32 Nine Months Ended September 30, 2022 2021 Stock Appreciation Rights Weighted Average Grant Date Assigned Value Stock Appreciation Rights Weighted Average Grant Date Assigned Value Beginning balance 97,920 $ 16.32 105,570 $ 16.32 Granted — — — — Exercised (6,120) 16.32 (6,120) 16.32 Expired — — (1,530) 16.32 Forfeited — — — — Ending balance 91,800 $ 16.32 97,920 $ 16.32 A further summary of stock appreciation rights as of September 30, 2022, is as follows: Weighted Average Stock Appreciation Rights Remaining Grant Date Assigned Values Outstanding Exercisable Contractual Term $ 16.32 91,800 85,680 6.5 years
Schedule of assumptions used in valuing stock appreciation rights	September 30, 2022 December 31, 2021 Risk-free interest rate 3.97 % 1.40 % Expected volatility 36.17 % 35.52 % Expected life (in years) 6.9 7.7 Expected dividend yield 3.53 % 3.20 %
Performance Shares
STOCK-BASED COMPENSATION PLANS
Schedule of the summary of outstanding restricted stock units	Three Months Ended September 30, 2022 2021 Weighted Weighted Performance Average Performance Average Restricted Grant Date Restricted Grant Date Stock Units Fair Value Stock Units Fair Value Beginning balance 62,067 $ 17.02 28,697 $ 15.53 Granted — — — — Vested — — — — Forfeited — — — — Ending balance 62,067 $ 17.02 28,697 $ 15.53 Nine months ended September 30, 2022 2021 Weighted Weighted Performance Average Performance Average Restricted Grant Date Restricted Grant Date Stock Units Fair Value Stock Units Fair Value Beginning balance 38,344 $ 15.72 — $ — Granted 23,723 19.14 28,697 15.53 Vested — — — — Forfeited — — — — Ending balance 62,067 $ 17.02 28,697 $ 15.53

REGULATORY MATTERS (Tables)

REGULATORY MATTERS (Tables)	9 Months Ended
REGULATORY MATTERS (Tables)	Sep. 30, 2022
REGULATORY MATTERS
Schedule of the Company's and the bank subsidiaries' actual and required capital amounts and ratios	Actual For Capital Adequacy Purposes To Be Well Capitalized Under Prompt Corrective Action Provisions September 30, 2022 Amount Ratio Amount Ratio Amount Ratio (dollars in thousands) Total Capital (to Risk Weighted Assets) Consolidated HBT Financial, Inc. $ 507,277 16.34 % $ 248,395 8.00 % N/A N/A Heartland Bank and Trust Company 484,065 15.60 248,216 8.00 $ 310,271 10.00 % Tier 1 Capital (to Risk Weighted Assets) Consolidated HBT Financial, Inc. $ 442,841 14.26 % $ 186,296 6.00 % N/A N/A Heartland Bank and Trust Company 459,005 14.79 186,162 6.00 $ 248,216 8.00 % Common Equity Tier 1 Capital (to Risk Weighted Assets) Consolidated HBT Financial, Inc. $ 406,243 13.08 % $ 139,722 4.50 % N/A N/A Heartland Bank and Trust Company 459,005 14.79 139,622 4.50 $ 201,676 6.50 % Tier 1 Capital (to Average Assets) Consolidated HBT Financial, Inc. $ 442,841 10.44 % $ 169,611 4.00 % N/A N/A Heartland Bank and Trust Company 459,005 10.83 169,515 4.00 $ 211,894 5.00 % Actual For Capital Adequacy Purposes To Be Well Capitalized Under Prompt Corrective Action Provisions December 31, 2021 Amount Ratio Amount Ratio Amount Ratio (dollars in thousands) Total Capital (to Risk Weighted Assets) Consolidated HBT Financial, Inc. $ 479,320 16.88 % $ 227,115 8.00 % N/A N/A Heartland Bank and Trust Company 452,162 15.94 226,950 8.00 $ 283,688 10.00 % Tier 1 Capital (to Risk Weighted Assets) Consolidated HBT Financial, Inc. $ 416,068 14.66 % $ 170,336 6.00 % N/A N/A Heartland Bank and Trust Company 428,226 15.09 170,213 6.00 $ 226,950 8.00 % Common Equity Tier 1 Capital (to Risk Weighted Assets) Consolidated HBT Financial, Inc. $ 379,519 13.37 % $ 127,752 4.50 % N/A N/A Heartland Bank and Trust Company 428,226 15.09 127,659 4.50 $ 184,397 6.50 % Tier 1 Capital (to Average Assets) Consolidated HBT Financial, Inc. $ 416,068 9.84 % $ 169,171 4.00 % N/A N/A Heartland Bank and Trust Company 428,226 10.13 169,070 4.00 $ 211,337 5.00 %

FAIR VALUE OF FINANCIAL INSTR_2

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	9 Months Ended
FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	Sep. 30, 2022
FAIR VALUE OF FINANCIAL INSTRUMENTS
Summary of assets measured at fair value on a recurring basis	September 30, 2022 Level 1 Inputs Level 2 Inputs Level 3 Inputs Total Fair Value (dollars in thousands) Debt securities available-for-sale: U.S. Treasury $ 153,572 $ — $ — $ 153,572 U.S. government agency — 57,023 — 57,023 Municipal — 241,911 — 241,911 Mortgage-backed: Agency residential — 204,907 — 204,907 Agency commercial — 137,376 — 137,376 Corporate — 58,951 — 58,951 Equity securities with readily determinable fair values 2,996 — — 2,996 Mortgage servicing rights — — 10,440 10,440 Derivative financial assets — 8,045 — 8,045 Derivative financial liabilities — 7,431 — 7,431 December 31, 2021 Level 1 Inputs Level 2 Inputs Level 3 Inputs Total Fair Value (dollars in thousands) Debt securities available-for-sale: U.S. Treasury $ 108,976 $ — $ — $ 108,976 U.S. government agency — 128,105 — 128,105 Municipal — 297,077 — 297,077 Mortgage-backed: Agency residential — 179,466 — 179,466 Agency commercial — 164,061 — 164,061 Corporate — 64,483 — 64,483 Equity securities with readily determinable fair values 3,443 — — 3,443 Mortgage servicing rights — — 7,994 7,994 Derivative financial assets — 8,697 — 8,697 Derivative financial liabilities — 9,377 — 9,377
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): September 30, 2022 Fair Value Valuation Technique Unobservable Inputs Range (Weighted Average) Mortgage servicing rights $ 10,440 Discounted cash flows Constant pre-payment rates (CPR) 5.5% to 59.7% (8.2%) Discount rate 9.0% to 11.5% (9.3%) December 31, 2021 Fair Value Valuation Technique Unobservable Inputs Range (Weighted Average) Mortgage servicing rights $ 7,994 Discounted cash flows Constant pre-payment rates (CPR) 7.0% to 88.9% (11.7%) Discount rate 9.0% to 11.0% (9.0%)
Summary of assets measured at fair value on a nonrecurring basis	September 30, 2022 Level 1 Inputs Level 2 Inputs Level 3 Inputs Total Fair Value (dollars in thousands) Loans held for sale $ — $ 2,297 $ — $ 2,297 Collateral-dependent impaired loans — — 17,517 17,517 Bank premises held for sale — — 281 281 Foreclosed assets — — 2,637 2,637 December 31, 2021 Level 1 Inputs Level 2 Inputs Level 3 Inputs Total Fair Value (dollars in thousands) Loans held for sale $ — $ 4,942 $ — $ 4,942 Collateral-dependent impaired loans — — 22,423 22,423 Bank premises held for sale — — 1,452 1,452 Foreclosed assets — — 3,278 3,278
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): September 30, 2022 Fair Value Valuation Technique Unobservable Inputs Range (Weighted Average) Collateral-dependent impaired loans $ 17,517 Appraisal of collateral Appraisal adjustments Not meaningful Bank premises held for sale 281 Appraisal Appraisal adjustments 7% (7%) Foreclosed assets 2,637 Appraisal Appraisal adjustments 7% (7%) December 31, 2021 Fair Value Valuation Technique Unobservable Inputs Range (Weighted Average) Collateral-dependent impaired loans $ 22,423 Appraisal of collateral Appraisal adjustments Not meaningful Bank premises held for sale 1,452 Appraisal Appraisal adjustments 7% (7%) Foreclosed assets 3,278 Appraisal Appraisal adjustments 7% (7%)
Summary information on the carrying amounts and estimated fair values of the Company's financial instruments	Fair Value September 30, 2022 December 31, 2021 Hierarchy Carrying Estimated Carrying Estimated Level Amount Fair Value Amount Fair Value (dollars in thousands) Financial assets: Cash and cash equivalents Level 1 $ 78,215 $ 78,215 $ 409,268 $ 409,268 Debt securities held-to-maturity Level 2 546,694 481,692 336,185 336,027 Restricted stock Level 3 4,050 4,050 2,739 2,739 Loans, net Level 3 2,554,868 2,548,050 2,475,753 2,494,686 Investments in unconsolidated subsidiaries Level 3 1,165 1,165 1,165 1,165 Accrued interest receivable Level 2 16,881 16,881 14,901 14,901 Financial liabilities: Time deposits Level 3 269,108 260,220 328,208 327,779 Securities sold under agreements to repurchase Level 2 48,130 48,130 61,256 61,256 Subordinated notes Level 3 39,376 37,667 39,316 41,602 Junior subordinated debentures Level 3 37,763 36,210 37,714 33,640 Accrued interest payable Level 2 607 607 1,043 1,043

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	9 Months Ended
COMMITMENTS AND CONTINGENCIES (Tables)	Sep. 30, 2022
COMMITMENTS AND CONTINGENCIES
Schedule of commitments and conditional obligations	Contractual Amount September 30, 2022 December 31, 2021 (dollars in thousands) Commitments to extend credit $ 667,788 $ 609,947 Standby letters of credit 16,918 12,960

ACCOUNTING POLICIES (Details)

ACCOUNTING POLICIES (Details)	9 Months Ended
ACCOUNTING POLICIES (Details)	Sep. 30, 2022 segment
ACCOUNTING POLICIES
Number of segments	1

ACQUISITIONS (Details)

ACQUISITIONS (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended			9 Months Ended
	Oct. 01, 2021	Mar. 31, 2023	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Aug. 22, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Goodwill			$ 29,322		$ 29,322			$ 29,322
pre-tax acquisition expenses			0	$ 400	$ 0	$ 500
Town and Country Financial Corporation [Member] \| Forecast
Business Acquisition [Line Items]
Aggregate transaction value		10.50%
Town and Country Financial Corporation [Member]
Business Acquisition [Line Items]
Share Price							$ 18.76
pre-tax acquisition expenses			$ 500
Town and Country Financial Corporation [Member] \| Forecast
Business Acquisition [Line Items]
Stock consideration per share		1.9010
Cash consideration per share		$ 35.66
Purchase Price Per Share		$ 35.66
Cash consideration		$ 38,000
Stock consideration (number of shares)		3,400,000
Total consideration		$ 101,400
NXT Bancorporation, Inc
Business Acquisition [Line Items]
Percentage of voting interests acquired	100%
Stock consideration per share	67.6783
Cash consideration per share	$ 400
Share Price	$ 16.27
Goodwill	$ 5,702
Cash consideration	10,633
Market value of shares issued as part of consideration	$ 29,270
Stock consideration (number of shares)	1,799,016
Total consideration	$ 39,903

ACQUISITIONS - Assets Acquired

ACQUISITIONS - Assets Acquired and Liabilities (Details) - USD ($) $ in Thousands	Oct. 01, 2021	Sep. 30, 2022	Dec. 31, 2021
Consideration paid:
Goodwill		$ 29,322	$ 29,322
NXT Bancorporation, Inc
Assets acquired:
Cash and cash equivalents	$ 5,862
Interest-bearing time deposits with banks	739
Debt securities	18,295
Equity securities with readily determinable fair value	43
Restricted stock	796
Loans	194,576
Bank owned life insurance	7,352
Bank premises and equipment	3,667
Core deposit intangible assets	199
Mortgage servicing rights	370
Accrued interest receivable	886
Other assets	1,340
Total assets acquired	234,125
Liabilities assumed:
Deposits	181,586
Securities sold under agreements to repurchase	4,080
FHLB advances	12,625
Other liabilities	1,633
Total liabilities assumed	199,924
Net assets acquired	34,201
Consideration paid:
Cash	10,633
Common stock	29,270
Business Combination, Consideration Transferred, Total	39,903
Goodwill	5,702
Business Combination, Acquired Receivables [Abstract]
Fair Value	194,576
Gross contractual amounts receivable	196,104
Estimate of contractual cash flows not expected to be collected	1,045
Deteriorated credit quality loans	$ 0

ACQUISITIONS - Schedule of pro

ACQUISITIONS - Schedule of pro forma (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2021
Business Acquisition, Pro Forma Information [Abstract]
Total revenues (net interest income and noninterest income)	$ 41,296	$ 124,460
Net income	$ 14,093	$ 44,285
Earnings per share - basic	$ 0.48	$ 1.52
Earnings per share - diluted	$ 0.48	$ 1.51

SECURITIES - Narrative (Details

SECURITIES - Narrative (Details) - USD ($) $ in Thousands	9 Months Ended
SECURITIES - Narrative (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
SECURITIES
Carrying value of securities pledged to secure public and trust deposits	$ 1,335,432	$ 1,278,195
Assets Pledged
SECURITIES
Carrying value of securities pledged to secure public and trust deposits	$ 413,400	$ 353,300
Illinois
SECURITIES
Percentage of obligations of local municipalities	49%
Percentage of general obligations in local municipalities	81%

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	Sep. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021
Held-to-maturity
Debt securities held-to-maturity	$ 546,694		$ 336,185
Fair Value	481,692		336,027
U.S. government agency
Held-to-maturity
Debt securities held-to-maturity	88,418		12,349
Fair Value	78,076		12,340
Mortgage-backed: Agency residential
Held-to-maturity
Debt securities held-to-maturity	105,330		20,555
Fair Value	98,839		20,649
Mortgage-backed: Agency commercial
Held-to-maturity
Debt securities held-to-maturity	310,102		287,615
Fair Value	$ 263,240		$ 286,563
Debt Securities Transferred
Held-to-maturity
Debt securities held-to-maturity		$ 114,850			$ 99,271	$ 135,161
Fair Value		104,131		$ 99,275		129,720
Debt Securities Transferred \| U.S. government agency
Held-to-maturity
Debt securities held-to-maturity		78,841				7,593
Fair Value		71,048				7,323
Debt Securities Transferred \| Mortgage-backed: Agency residential
Held-to-maturity
Debt securities held-to-maturity		8,175				8,776
Fair Value		7,651				8,536
Debt Securities Transferred \| Mortgage-backed: Agency commercial
Held-to-maturity
Debt securities held-to-maturity		27,834			$ 99,271	118,792
Fair Value		$ 25,432		$ 99,275		$ 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	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Available-for-sale
Amortized Cost	$ 952,144	$ 938,360
Gross Unrealized Gains	42	12,796
Gross Unrealized Losses	(98,446)	(8,988)
Fair Value	853,740	942,168
Held-to-maturity
Amortized Cost	546,694	336,185
Gross Unrealized Gains	50	2,796
Gross Unrealized Losses	(65,052)	(2,954)
Fair Value	481,692	336,027
Total Amortized Cost	1,498,838	1,274,545
Total Gross Unrealized Gains	92	15,592
Total Gross Unrealized Losses	(163,498)	(11,942)
Total Fair Value	1,335,432	1,278,195
U.S. Treasury
Available-for-sale
Amortized Cost	169,895	109,002
Gross Unrealized Gains		328
Gross Unrealized Losses	(16,323)	(354)
Fair Value	153,572	108,976
U.S. government agency
Available-for-sale
Amortized Cost	61,428	129,269
Gross Unrealized Gains	1	1,303
Gross Unrealized Losses	(4,406)	(2,467)
Fair Value	57,023	128,105
Held-to-maturity
Amortized Cost	88,418	12,349
Gross Unrealized Gains		42
Gross Unrealized Losses	(10,342)	(51)
Fair Value	78,076	12,340
Municipal securities
Available-for-sale
Amortized Cost	279,711	293,837
Gross Unrealized Gains	4	6,144
Gross Unrealized Losses	(37,804)	(2,904)
Fair Value	241,911	297,077
Held-to-maturity
Amortized Cost	42,844	15,666
Gross Unrealized Gains	50	809
Gross Unrealized Losses	(1,357)
Fair Value	41,537	16,475
Mortgage-backed: Agency residential
Available-for-sale
Amortized Cost	223,738	178,236
Gross Unrealized Gains	20	2,149
Gross Unrealized Losses	(18,851)	(919)
Fair Value	204,907	179,466
Held-to-maturity
Amortized Cost	105,330	20,555
Gross Unrealized Gains		196
Gross Unrealized Losses	(6,491)	(102)
Fair Value	98,839	20,649
Mortgage-backed: Agency commercial
Available-for-sale
Amortized Cost	154,677	164,875
Gross Unrealized Gains	1	1,234
Gross Unrealized Losses	(17,302)	(2,048)
Fair Value	137,376	164,061
Held-to-maturity
Amortized Cost	310,102	287,615
Gross Unrealized Gains		1,749
Gross Unrealized Losses	(46,862)	(2,801)
Fair Value	263,240	286,563
Corporate
Available-for-sale
Amortized Cost	62,695	63,141
Gross Unrealized Gains	16	1,638
Gross Unrealized Losses	(3,760)	(296)
Fair Value	$ 58,951	$ 64,483

SECURITIES - Amortized cost a_3

SECURITIES - Amortized cost and Fair values of securities with maturities (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Amortized Cost
Amortized Cost	$ 952,144	$ 938,360
Fair Value
Fair Value	853,740	942,168
Amortized Cost
Debt securities held-to-maturity	546,694	336,185
Fair Value
Fair Value	481,692	336,027
Mortgage-backed: Agency residential
Amortized Cost
Amortized Cost	223,738	178,236
Fair Value
Fair Value	204,907	179,466
Amortized Cost
Debt securities held-to-maturity	105,330	20,555
Fair Value
Fair Value	98,839	20,649
Mortgage-backed: Agency commercial
Amortized Cost
Amortized Cost	154,677	164,875
Fair Value
Fair Value	137,376	164,061
Amortized Cost
Debt securities held-to-maturity	310,102	287,615
Fair Value
Fair Value	263,240	$ 286,563
Available-for-sale
Amortized Cost
Due in 1 year or less	12,575
Due after 1 year through 5 years	235,438
Due after 5 years through 10 years	250,903
Due after 10 years	74,813
Amortized Cost	952,144
Fair Value
Due in 1 year or less	12,506
Due after 1 year through 5 years	220,181
Due after 5 years through 10 years	216,108
Due after 10 years	62,662
Fair Value	853,740
Available-for-sale \| Mortgage-backed: Agency residential
Amortized Cost
Amortized Cost	223,738
Fair Value
Fair Value	204,907
Available-for-sale \| Mortgage-backed: Agency commercial
Amortized Cost
Amortized Cost	154,677
Fair Value
Fair Value	137,376
Held-to-maturity
Amortized Cost
Due in 1 year or less	2,492
Due after 1 year through 5 years	25,934
Due after 5 years through 10 years	79,440
Due after 10 years	23,396
Debt securities held-to-maturity	546,694
Fair Value
Due in 1 year or less	2,494
Due after 1 year through 5 years	24,801
Due after 5 years through 10 years	71,686
Due after 10 years	20,632
Fair Value	481,692
Held-to-maturity \| Mortgage-backed: Agency residential
Amortized Cost
Debt securities held-to-maturity	105,330
Fair Value
Fair Value	98,839
Held-to-maturity \| Mortgage-backed: Agency commercial
Amortized Cost
Debt securities held-to-maturity	310,102
Fair Value
Fair Value	$ 263,240

SECURITIES - Investments in a C

SECURITIES - Investments in a Continuous Unrealized Loss Position (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022 USD ($) item	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($) item	Sep. 30, 2021 USD ($)	Dec. 31, 2021 USD ($)
Available-for-sale: Unrealized Loss
Less than 12 Months	$ (62,524)		$ (62,524)		$ (7,334)
12 Months or More	(35,922)		(35,922)		(1,654)
Total Unrealized Loss of Available-for-sale securities	(98,446)		(98,446)		(8,988)
Held-to-maturity: Unrealized Loss
Less than 12 Months	(34,297)		(34,297)		(2,826)
12 Months or More	(30,755)		(30,755)		(128)
Total Unrealized Loss of Held-to-maturity securities	(65,052)		(65,052)		(2,954)
Available-for-sale: Fair Value
Less than 12 Months	672,731		672,731		445,604
12 Months or More	168,900		168,900		38,324
Total Fair Value Available-for-sale securities	841,631		841,631		483,928
Held-to-maturity: Fair value
Less than 12 Months	303,231		303,231		194,309
12 Months or More	171,990		171,990		2,776
Total Fair Value Held-to-maturity securities	475,221		475,221		197,085
Total: Unrealized Losses
Less Than 12 Months	(96,821)		(96,821)		(10,160)
12 Months or More	(66,677)		(66,677)		(1,782)
Total Unrealized Losses	(163,498)		(163,498)		(11,942)
Total: Fair Value
Less than 12 Months	975,962		975,962		639,913
12 Months or More	340,890		340,890		41,100
Total Fair Value	$ 1,316,852		$ 1,316,852		681,013
Number of securities in an unrealized loss position for a period of twelve months or more \| item	183		183
Number of securities in an unrealized loss position for a period of less than twelve months \| item	641		641
Proceeds from sales of securities available-for-sale	$ 0	$ 0	$ 0	$ 0
U.S. Treasury
Available-for-sale: Unrealized Loss
Less than 12 Months	(15,245)		(15,245)		(354)
12 Months or More	(1,078)		(1,078)
Total Unrealized Loss of Available-for-sale securities	(16,323)		(16,323)		(354)
Available-for-sale: Fair Value
Less than 12 Months	144,691		144,691		68,410
12 Months or More	8,881		8,881
Total Fair Value Available-for-sale securities	153,572		153,572		68,410
U.S. government agency
Available-for-sale: Unrealized Loss
Less than 12 Months	(3,831)		(3,831)		(2,183)
12 Months or More	(575)		(575)		(284)
Total Unrealized Loss of Available-for-sale securities	(4,406)		(4,406)		(2,467)
Held-to-maturity: Unrealized Loss
Less than 12 Months	(2,316)		(2,316)		(51)
12 Months or More	(8,026)		(8,026)
Total Unrealized Loss of Held-to-maturity securities	(10,342)		(10,342)		(51)
Available-for-sale: Fair Value
Less than 12 Months	51,799		51,799		80,219
12 Months or More	3,394		3,394		5,578
Total Fair Value Available-for-sale securities	55,193		55,193		85,797
Held-to-maturity: Fair value
Less than 12 Months	20,176		20,176		4,949
12 Months or More	57,900		57,900
Total Fair Value Held-to-maturity securities	78,076		78,076		4,949
Municipal securities
Available-for-sale: Unrealized Loss
Less than 12 Months	(16,557)		(16,557)		(2,018)
12 Months or More	(21,247)		(21,247)		(886)
Total Unrealized Loss of Available-for-sale securities	(37,804)		(37,804)		(2,904)
Held-to-maturity: Unrealized Loss
Less than 12 Months	(1,357)		(1,357)
Total Unrealized Loss of Held-to-maturity securities	(1,357)		(1,357)
Available-for-sale: Fair Value
Less than 12 Months	157,183		157,183		89,424
12 Months or More	82,613		82,613		17,327
Total Fair Value Available-for-sale securities	239,796		239,796		106,751
Held-to-maturity: Fair value
Less than 12 Months	35,066		35,066
Total Fair Value Held-to-maturity securities	35,066		35,066
Mortgage-backed: Agency residential
Available-for-sale: Unrealized Loss
Less than 12 Months	(15,072)		(15,072)		(851)
12 Months or More	(3,779)		(3,779)		(68)
Total Unrealized Loss of Available-for-sale securities	(18,851)		(18,851)		(919)
Held-to-maturity: Unrealized Loss
Less than 12 Months	(6,320)		(6,320)		(102)
12 Months or More	(171)		(171)
Total Unrealized Loss of Held-to-maturity securities	(6,491)		(6,491)		(102)
Available-for-sale: Fair Value
Less than 12 Months	176,467		176,467		91,703
12 Months or More	24,808		24,808		4,305
Total Fair Value Available-for-sale securities	201,275		201,275		96,008
Held-to-maturity: Fair value
Less than 12 Months	97,876		97,876		14,932
12 Months or More	963		963
Total Fair Value Held-to-maturity securities	98,839		98,839		14,932
Mortgage-backed: Agency commercial
Available-for-sale: Unrealized Loss
Less than 12 Months	(9,292)		(9,292)		(1,921)
12 Months or More	(8,010)		(8,010)		(127)
Total Unrealized Loss of Available-for-sale securities	(17,302)		(17,302)		(2,048)
Held-to-maturity: Unrealized Loss
Less than 12 Months	(24,304)		(24,304)		(2,673)
12 Months or More	(22,558)		(22,558)		(128)
Total Unrealized Loss of Held-to-maturity securities	(46,862)		(46,862)		(2,801)
Available-for-sale: Fair Value
Less than 12 Months	89,378		89,378		113,111
12 Months or More	45,474		45,474		6,443
Total Fair Value Available-for-sale securities	134,852		134,852		119,554
Held-to-maturity: Fair value
Less than 12 Months	150,113		150,113		174,428
12 Months or More	113,127		113,127		2,776
Total Fair Value Held-to-maturity securities	263,240		263,240		177,204
Corporate
Available-for-sale: Unrealized Loss
Less than 12 Months	(2,527)		(2,527)		(7)
12 Months or More	(1,233)		(1,233)		(289)
Total Unrealized Loss of Available-for-sale securities	(3,760)		(3,760)		(296)
Available-for-sale: Fair Value
Less than 12 Months	53,213		53,213		2,737
12 Months or More	3,730		3,730		4,671
Total Fair Value Available-for-sale securities	$ 56,943		$ 56,943		$ 7,408

SECURITIES - Equity securities

SECURITIES - Equity securities (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Equity Securities - Readily determinable fair value
Equity Securities, Readily determinable fair value, cost	$ 3,142		$ 3,142		$ 3,142
Equity Securities, Readily determinable fair value, Cumulative Net Unrealized Gains (Losses)	(146)		(146)		301
Equity securities, Readily determinable fair value, Carrying Value	2,996		2,996		3,443
Equity Securities - No readily determinable fair value
Equity Securities, No readily determinable fair value, cost	2,142		2,142		2,092
Equity Securities, No readily determinable fair value, Cumulative Net Unrealized Gains (Losses)	(165)		(165)		(165)
Equity securities: No readily determinable fair value, Carrying Value	1,977		1,977		1,927
Upward adjustment on equity securities with no readily determinable fair value	0		0		$ 0
Proceeds from sale of equity securities	0	$ 0	0	$ 0
Readily determinable fair value	(107)	28	(447)	74
Unrealized gains (losses) on equity securities	$ (107)	$ 28	$ (447)	$ 74

LOANS AND THE ALLOWANCE FOR L_3

LOANS AND THE ALLOWANCE FOR LOAN LOSSES - Categories of loans (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Jun. 30, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Dec. 31, 2020
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Loans, before allowance for loan losses	$ 2,579,928		$ 2,499,689
Allowance for loan losses	(25,060)	$ (24,734)	(23,936)	$ (24,861)	$ (26,507)	$ (31,838)
Loans, net of allowance for loan losses	2,554,868		2,475,753
Paycheck Protection Program (PPP) Loans
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Loans, before allowance for loan losses	65		29,488
Commercial and industrial
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Loans, before allowance for loan losses	240,671		286,946
Allowance for loan losses	(2,984)	(2,981)	(2,440)	(2,858)	(2,717)	(3,929)
Commercial and industrial \| Paycheck Protection Program (PPP) Loans
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Loans, before allowance for loan losses	65		28,404
Agricultural and farmland
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Loans, before allowance for loan losses	245,234		247,796
Allowance for loan losses	(841)	(924)	(845)	(755)	(781)	(793)
Agricultural and farmland \| Paycheck Protection Program (PPP) Loans
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Loans, before allowance for loan losses			913
Commercial real estate - owner occupied
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Loans, before allowance for loan losses	226,524		234,544
Allowance for loan losses	(1,160)	(1,224)	(1,840)	(1,551)	(1,946)	(3,141)
Commercial real estate - non-owner occupied
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Loans, before allowance for loan losses	718,089		684,023
Allowance for loan losses	(6,882)	(6,611)	(8,145)	(9,121)	(9,825)	(11,251)
Multi-family
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Loans, before allowance for loan losses	260,630		263,911
Allowance for loan losses	(1,323)	(1,375)	(1,263)	(1,781)	(2,009)	(1,957)
Construction and land development
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Loans, before allowance for loan losses	364,290		298,048
Allowance for loan losses	(4,376)	(4,059)	(4,914)	(4,338)	(3,924)	(4,232)
One-to-four family residential
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Loans, before allowance for loan losses	328,667		327,837
Allowance for loan losses	(1,660)	(1,696)	(1,311)	(1,108)	(1,520)	(1,801)
Municipal, consumer, and other
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Loans, before allowance for loan losses	195,823		156,584
Allowance for loan losses	$ (5,834)	$ (5,864)	(3,178)	$ (3,349)	$ (3,785)	$ (4,734)
Municipal, consumer, and other \| Paycheck Protection Program (PPP) Loans
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Loans, before allowance for loan losses			$ 171

LOANS AND THE ALLOWANCE FOR L_4

LOANS AND THE ALLOWANCE FOR LOAN LOSSES - Summary (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Activity in the allowance for loan losses
Allowance for loan losses at beginning of period	$ 24,734	$ 26,507	$ 23,936	$ 31,838
Provision for loan losses	386	(1,667)	(53)	(7,234)
Charge-offs	(222)	(278)	(515)	(875)
Recoveries	162	299	1,692	1,132
Allowance for loan losses at end of period	25,060	24,861	25,060	24,861
Commercial and industrial
Activity in the allowance for loan losses
Allowance for loan losses at beginning of period	2,981	2,717	2,440	3,929
Provision for loan losses	14	162	(189)	(1,062)
Charge-offs	(17)	(135)	(22)	(430)
Recoveries	6	114	755	421
Allowance for loan losses at end of period	2,984	2,858	2,984	2,858
Agricultural and farmland
Activity in the allowance for loan losses
Allowance for loan losses at beginning of period	924	781	845	793
Provision for loan losses	(83)	(26)	(4)	(38)
Allowance for loan losses at end of period	841	755	841	755
Commercial real estate - owner occupied
Activity in the allowance for loan losses
Allowance for loan losses at beginning of period	1,224	1,946	1,840	3,141
Provision for loan losses	(65)	(395)	(781)	(1,590)
Recoveries	1		101
Allowance for loan losses at end of period	1,160	1,551	1,160	1,551
Commercial real estate - non-owner occupied
Activity in the allowance for loan losses
Allowance for loan losses at beginning of period	6,611	9,825	8,145	11,251
Provision for loan losses	268	(710)	(1,536)	(2,149)
Recoveries	3	6	273	19
Allowance for loan losses at end of period	6,882	9,121	6,882	9,121
Multi-family
Activity in the allowance for loan losses
Allowance for loan losses at beginning of period	1,375	2,009	1,263	1,957
Provision for loan losses	(52)	(228)	60	(176)
Allowance for loan losses at end of period	1,323	1,781	1,323	1,781
Construction and land development
Activity in the allowance for loan losses
Allowance for loan losses at beginning of period	4,059	3,924	4,914	4,232
Provision for loan losses	316	413	(539)	(164)
Recoveries	1	1	1	270
Allowance for loan losses at end of period	4,376	4,338	4,376	4,338
One-to-four family residential
Activity in the allowance for loan losses
Allowance for loan losses at beginning of period	1,696	1,520	1,311	1,801
Provision for loan losses	(78)	(499)	93	(742)
Charge-offs	(18)	(48)	(67)	(161)
Recoveries	60	135	323	210
Allowance for loan losses at end of period	1,660	1,108	1,660	1,108
Municipal, consumer, and other
Activity in the allowance for loan losses
Allowance for loan losses at beginning of period	5,864	3,785	3,178	4,734
Provision for loan losses	66	(384)	2,843	(1,313)
Charge-offs	(187)	(95)	(426)	(284)
Recoveries	91	43	239	212
Allowance for loan losses at end of period	$ 5,834	$ 3,349	$ 5,834	$ 3,349

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	Sep. 30, 2022	Jun. 30, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Dec. 31, 2020
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Collectively evaluated for impairment, Loans	$ 2,487,412		$ 2,392,000
Individually evaluated for impairment, Loans	69,303		78,619
Total	2,579,928		2,499,689
Collectively evaluated for impairment, Allowance for loan losses	18,668		18,271
Individually evaluated for impairment, Allowance for loan losses	6,362		5,598
Total investments in loans	25,060	$ 24,734	23,936	$ 24,861	$ 26,507	$ 31,838
Loans acquired with deteriorated credit quality
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	23,213		29,070
Individually evaluated for impairment, Allowance for loan losses	30		67
Commercial and industrial
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Collectively evaluated for impairment, Loans	237,839		272,064
Individually evaluated for impairment, Loans	2,702		14,744
Total	240,671		286,946
Collectively evaluated for impairment, Allowance for loan losses	2,826		2,253
Individually evaluated for impairment, Allowance for loan losses	158		187
Total investments in loans	2,984	2,981	2,440	2,858	2,717	3,929
Commercial and industrial \| Loans acquired with deteriorated credit quality
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	130		138
Agricultural and farmland
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Collectively evaluated for impairment, Loans	244,236		247,021
Individually evaluated for impairment, Loans	385		12
Total	245,234		247,796
Collectively evaluated for impairment, Allowance for loan losses	841		845
Total investments in loans	841	924	845	755	781	793
Agricultural and farmland \| Loans acquired with deteriorated credit quality
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	613		763
Commercial real estate - owner occupied
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Collectively evaluated for impairment, Loans	210,461		216,794
Individually evaluated for impairment, Loans	11,607		12,332
Total	226,524		234,544
Collectively evaluated for impairment, Allowance for loan losses	930		1,480
Individually evaluated for impairment, Allowance for loan losses	208		327
Total investments in loans	1,160	1,224	1,840	1,551	1,946	3,141
Commercial real estate - owner occupied \| Loans acquired with deteriorated credit quality
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	4,456		5,418
Individually evaluated for impairment, Allowance for loan losses	22		33
Commercial real estate - non-owner occupied
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Collectively evaluated for impairment, Loans	675,121		641,555
Individually evaluated for impairment, Loans	31,553		29,575
Total	718,089		684,023
Collectively evaluated for impairment, Allowance for loan losses	4,416		5,138
Individually evaluated for impairment, Allowance for loan losses	2,465		2,999
Total investments in loans	6,882	6,611	8,145	9,121	9,825	11,251
Commercial real estate - non-owner occupied \| Loans acquired with deteriorated credit quality
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	11,415		12,893
Individually evaluated for impairment, Allowance for loan losses	1		8
Multi-family
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Collectively evaluated for impairment, Loans	260,060		262,701
Total	260,630		263,911
Collectively evaluated for impairment, Allowance for loan losses	1,320		1,259
Total investments in loans	1,323	1,375	1,263	1,781	2,009	1,957
Multi-family \| Loans acquired with deteriorated credit quality
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	570		1,210
Individually evaluated for impairment, Allowance for loan losses	3		4
Construction and land development
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Collectively evaluated for impairment, Loans	361,305		293,548
Individually evaluated for impairment, Loans	2,007		2,018
Total	364,290		298,048
Collectively evaluated for impairment, Allowance for loan losses	4,374		4,895
Total investments in loans	4,376	4,059	4,914	4,338	3,924	4,232
Construction and land development \| Loans acquired with deteriorated credit quality
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	978		2,482
Individually evaluated for impairment, Allowance for loan losses	2		19
One-to-four family residential
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Collectively evaluated for impairment, Loans	315,209		314,807
Individually evaluated for impairment, Loans	8,427		6,897
Total	328,667		327,837
Collectively evaluated for impairment, Allowance for loan losses	1,619		1,099
Individually evaluated for impairment, Allowance for loan losses	39		210
Total investments in loans	1,660	1,696	1,311	1,108	1,520	1,801
One-to-four family residential \| Loans acquired with deteriorated credit quality
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	5,031		6,133
Individually evaluated for impairment, Allowance for loan losses	2		2
Municipal, consumer, and other
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Collectively evaluated for impairment, Loans	183,181		143,510
Individually evaluated for impairment, Loans	12,622		13,041
Total	195,823		156,584
Collectively evaluated for impairment, Allowance for loan losses	2,342		1,302
Individually evaluated for impairment, Allowance for loan losses	3,492		1,875
Total investments in loans	5,834	$ 5,864	3,178	$ 3,349	$ 3,785	$ 4,734
Municipal, consumer, and other \| Loans acquired with deteriorated credit quality
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	$ 20		33
Individually evaluated for impairment, Allowance for loan losses			$ 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		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Unpaid Principal Balance
With an allowance recorded	$ 23,922		$ 23,922		$ 28,172
With no related allowance	47,124		47,124		52,597
Total loans individually evaluated for impairment	71,046		71,046		80,769
Recorded Investment
With an allowance recorded	23,879		23,879		28,021
With no related allowance	45,424		45,424		50,598
Total loans individually evaluated for impairment	69,303		69,303		78,619
Related Allowance	6,362		6,362		5,598
Average Recorded Investment
With an allowance recorded	24,041	$ 30,721	25,081	$ 33,868
With no related allowance	47,776	42,143	56,362	35,464
Total loans individually evaluated for impairment	71,817	72,864	81,443	69,332
Interest Income Recognized
With an allowance recorded	269	323	786	1,029
With no related allowance	756	370	2,143	978
Total loans individually evaluated for impairment	1,025	693	2,929	2,007
Commercial and industrial
Unpaid Principal Balance
With an allowance recorded	256		256		303
With no related allowance	2,460		2,460		14,452
Total loans individually evaluated for impairment	2,716		2,716		14,755
Recorded Investment
With an allowance recorded	256		256		303
With no related allowance	2,446		2,446		14,441
Total loans individually evaluated for impairment	2,702		2,702		14,744
Related Allowance	158		158		187
Average Recorded Investment
With an allowance recorded	258	1,925	272	2,025
With no related allowance	3,894	7,137	12,793	5,222
Total loans individually evaluated for impairment	4,152	9,062	13,065	7,247
Interest Income Recognized
With an allowance recorded	5	26	13	84
With no related allowance	41	115	397	205
Total loans individually evaluated for impairment	46	141	410	289
Agricultural and farmland
Unpaid Principal Balance
With no related allowance	385		385		12
Total loans individually evaluated for impairment	385		385		12
Recorded Investment
With no related allowance	385		385		12
Total loans individually evaluated for impairment	385		385		12
Average Recorded Investment
With an allowance recorded				110
With no related allowance	425	385	305	384
Total loans individually evaluated for impairment	425	385	305	494
Interest Income Recognized
With an allowance recorded				4
With no related allowance	5	6	8	17
Total loans individually evaluated for impairment	5	6	8	21
Commercial real estate - owner occupied
Unpaid Principal Balance
With an allowance recorded	734		734		3,013
With no related allowance	11,030		11,030		9,534
Total loans individually evaluated for impairment	11,764		11,764		12,547
Recorded Investment
With an allowance recorded	734		734		3,013
With no related allowance	10,873		10,873		9,319
Total loans individually evaluated for impairment	11,607		11,607		12,332
Related Allowance	208		208		327
Average Recorded Investment
With an allowance recorded	739	3,192	1,297	3,060
With no related allowance	11,651	6,551	11,524	7,216
Total loans individually evaluated for impairment	12,390	9,743	12,821	10,276
Interest Income Recognized
With an allowance recorded	11	45	55	132
With no related allowance	141	81	388	273
Total loans individually evaluated for impairment	152	126	443	405
Commercial real estate - non-owner occupied
Unpaid Principal Balance
With an allowance recorded	14,359		14,359		14,912
With no related allowance	17,284		17,284		14,755
Total loans individually evaluated for impairment	31,643		31,643		29,667
Recorded Investment
With an allowance recorded	14,348		14,348		14,893
With no related allowance	17,205		17,205		14,682
Total loans individually evaluated for impairment	31,553		31,553		29,575
Related Allowance	2,465		2,465		2,999
Average Recorded Investment
With an allowance recorded	14,441	15,136	14,631	17,001
With no related allowance	17,220	15,283	16,894	8,880
Total loans individually evaluated for impairment	31,661	30,419	31,525	25,881
Interest Income Recognized
With an allowance recorded	185	194	556	599
With no related allowance	369	101	907	239
Total loans individually evaluated for impairment	554	295	1,463	838
Multi-family
Average Recorded Investment
With no related allowance				580
Total loans individually evaluated for impairment				580
Interest Income Recognized
With no related allowance				10
Total loans individually evaluated for impairment				10
Construction and land development
Unpaid Principal Balance
With no related allowance	2,107		2,107		2,112
Total loans individually evaluated for impairment	2,107		2,107		2,112
Recorded Investment
With no related allowance	2,007		2,007		2,018
Total loans individually evaluated for impairment	2,007		2,007		2,018
Average Recorded Investment
With an allowance recorded				741
With no related allowance	2,010	2,439	2,012	2,060
Total loans individually evaluated for impairment	2,010	2,439	2,012	2,801
Interest Income Recognized
With an allowance recorded				27
With no related allowance	57	1	105	27
Total loans individually evaluated for impairment	57	1	105	54
One-to-four family residential
Unpaid Principal Balance
With an allowance recorded	350		350		1,421
With no related allowance	9,403		9,403		7,129
Total loans individually evaluated for impairment	9,753		9,753		8,550
Recorded Investment
With an allowance recorded	340		340		1,314
With no related allowance	8,087		8,087		5,583
Total loans individually evaluated for impairment	8,427		8,427		6,897
Related Allowance	39		39		210
Average Recorded Investment
With an allowance recorded	349	1,827	513	2,209
With no related allowance	8,119	5,713	8,341	6,427
Total loans individually evaluated for impairment	8,468	7,540	8,854	8,636
Interest Income Recognized
With an allowance recorded	2	18	11	64
With no related allowance	99	45	240	142
Total loans individually evaluated for impairment	101	63	251	206
Municipal, consumer, and other
Unpaid Principal Balance
With an allowance recorded	8,223		8,223		8,523
With no related allowance	4,455		4,455		4,603
Total loans individually evaluated for impairment	12,678		12,678		13,126
Recorded Investment
With an allowance recorded	8,201		8,201		8,498
With no related allowance	4,421		4,421		4,543
Total loans individually evaluated for impairment	12,622		12,622		13,041
Related Allowance	3,492		3,492		$ 1,875
Average Recorded Investment
With an allowance recorded	8,254	8,641	8,368	8,722
With no related allowance	4,457	4,635	4,493	4,695
Total loans individually evaluated for impairment	12,711	13,276	12,861	13,417
Interest Income Recognized
With an allowance recorded	66	40	151	119
With no related allowance	44	21	98	65
Total loans individually evaluated for impairment	$ 110	$ 61	$ 249	$ 184

LOANS AND THE ALLOWANCE FOR L_7

LOANS AND THE ALLOWANCE FOR LOAN LOSSES - Past Due Status (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Accruing Interest
Accruing Interest	$ 2,573,708	$ 2,495,258
Nonaccrual	3,206	2,763
Total	2,579,928	2,499,689
30 - 89 Days Past Due
Accruing Interest
Accruing Interest	2,992	1,620
90+ Days Past Due
Accruing Interest
Accruing Interest	22	48
Commercial and industrial
Accruing Interest
Accruing Interest	240,391	286,563
Nonaccrual	89	374
Total	240,671	286,946
Commercial and industrial \| 30 - 89 Days Past Due
Accruing Interest
Accruing Interest	191	9
Agricultural and farmland
Accruing Interest
Accruing Interest	245,234	247,772
Total	245,234	247,796
Agricultural and farmland \| 30 - 89 Days Past Due
Accruing Interest
Accruing Interest		24
Commercial real estate - owner occupied
Accruing Interest
Accruing Interest	226,424	234,441
Total	226,524	234,544
Commercial real estate - owner occupied \| 30 - 89 Days Past Due
Accruing Interest
Accruing Interest	100	103
Commercial real estate - non-owner occupied
Accruing Interest
Accruing Interest	717,085	683,029
Nonaccrual	1,004	171
Total	718,089	684,023
Commercial real estate - non-owner occupied \| 30 - 89 Days Past Due
Accruing Interest
Accruing Interest		823
Multi-family
Accruing Interest
Accruing Interest	260,630	263,911
Total	260,630	263,911
Construction and land development
Accruing Interest
Accruing Interest	362,367	297,465
Nonaccrual	494	519
Total	364,290	298,048
Construction and land development \| 30 - 89 Days Past Due
Accruing Interest
Accruing Interest	1,429	64
One-to-four family residential
Accruing Interest
Accruing Interest	325,926	325,780
Nonaccrual	1,560	1,642
Total	328,667	327,837
One-to-four family residential \| 30 - 89 Days Past Due
Accruing Interest
Accruing Interest	1,159	383
One-to-four family residential \| 90+ Days Past Due
Accruing Interest
Accruing Interest	22	32
Municipal, consumer, and other
Accruing Interest
Accruing Interest	195,651	156,297
Nonaccrual	59	57
Total	195,823	156,584
Municipal, consumer, and other \| 30 - 89 Days Past Due
Accruing Interest
Accruing Interest	$ 113	214
Municipal, consumer, and other \| 90+ Days Past Due
Accruing Interest
Accruing Interest		$ 16

LOANS AND THE ALLOWANCE FOR L_8

LOANS AND THE ALLOWANCE FOR LOAN LOSSES - Assigned Risk Ratings (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	$ 2,579,928	$ 2,499,689
Pass
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	2,449,735	2,269,228
Pass-Watch
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	57,798	148,285
Substandard
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	72,395	82,176
Commercial and industrial
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	240,671	286,946
Commercial and industrial \| Pass
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	229,239	267,088
Commercial and industrial \| Pass-Watch
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	8,730	5,114
Commercial and industrial \| Substandard
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	2,702	14,744
Agricultural and farmland
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	245,234	247,796
Agricultural and farmland \| Pass
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	230,636	221,898
Agricultural and farmland \| Pass-Watch
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	13,601	25,213
Agricultural and farmland \| Substandard
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	997	685
Commercial real estate - owner occupied
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	226,524	234,544
Commercial real estate - owner occupied \| Pass
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	202,250	198,862
Commercial real estate - owner occupied \| Pass-Watch
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	13,465	24,098
Commercial real estate - owner occupied \| Substandard
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	10,809	11,584
Commercial real estate - non-owner occupied
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	718,089	684,023
Commercial real estate - non-owner occupied \| Pass
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	673,481	619,212
Commercial real estate - non-owner occupied \| Pass-Watch
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	10,336	32,372
Commercial real estate - non-owner occupied \| Substandard
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	34,272	32,439
Multi-family
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	260,630	263,911
Multi-family \| Pass
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	255,665	241,362
Multi-family \| Pass-Watch
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	4,965	22,549
Construction and land development
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	364,290	298,048
Construction and land development \| Pass
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	361,954	268,556
Construction and land development \| Pass-Watch
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	329	27,474
Construction and land development \| Substandard
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	2,007	2,018
One-to-four family residential
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	328,667	327,837
One-to-four family residential \| Pass
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	313,608	308,951
One-to-four family residential \| Pass-Watch
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	6,074	11,221
One-to-four family residential \| Substandard
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	8,985	7,665
Municipal, consumer, and other
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	195,823	156,584
Municipal, consumer, and other \| Pass
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	182,902	143,299
Municipal, consumer, and other \| Pass-Watch
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	298	244
Municipal, consumer, and other \| Substandard
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Total	$ 12,623	$ 13,041

LOANS AND THE ALLOWANCE FOR L_9

LOANS AND THE ALLOWANCE FOR LOAN LOSSES - Financial Effect of Troubled Debt Restructurings (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022 USD ($) loan	Sep. 30, 2021 USD ($) loan	Sep. 30, 2022 USD ($) loan	Sep. 30, 2021 USD ($) loan	Dec. 31, 2021 USD ($)
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Number of Loans \| loan	0	0	0	0
Loans with payment modifications due to COVID-19	$ 0		$ 0		$ 200
Troubled debt restructurings	3,100		3,100		3,500
Troubled debt restructuring subsequent payment defaults during the three months	0	$ 0	0	$ 0
Loans, net of allowance for loan losses	2,554,868		2,554,868		2,475,753
Pledged assets
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Loans, net of allowance for loan losses	$ 824,900		$ 824,900		$ 567,000

LOANS AND THE ALLOWANCE FOR _10

LOANS AND THE ALLOWANCE FOR LOAN LOSSES - Accretable Yield For Loans (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Changes in accretable yield for loans acquired with deteriorated credit quality
Beginning balance	$ 537	$ 1,350	$ 413	$ 1,397
Reclassification from non-accretable difference	283	280	500	433
Accretion income	(58)	(86)	(151)	(286)
Ending balance	$ 762	$ 1,544	$ 762	$ 1,544

LOAN SERVICING - Mortgage Servi

LOAN SERVICING - Mortgage Servicing Rights (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Beginning balance			$ 7,994
Ending balance	$ 10,440		10,440		$ 7,994
Mortgage Loans
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Beginning balance	10,089	$ 7,319	7,994	$ 5,934	5,934
Acquired	144	241	451	994
Attributable to payments and principal reductions	(362)	(451)	(1,048)	(1,408)
Attributable to changes in valuation inputs and assumptions	569	250	3,043	1,839
Total fair value adjustment	207	(201)	1,995	431
Ending balance	$ 10,440	$ 7,359	10,440	$ 7,359	7,994
Mortgage loans serviced for others			$ 976,100		$ 1,040,000

FORECLOSED ASSETS - Activity (D

FORECLOSED ASSETS - Activity (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
FORECLOSED ASSETS
Beginning balance	$ 2,891	$ 7,757	$ 3,278	$ 4,168
Transfers from loans			27	4,856
Proceeds from sales	(29)	(354)	(476)	(1,583)
Sales through loan origination		(74)		(252)
Net gain on sales	20	108	118	321
Direct write-downs	(245)	(122)	(310)	(195)
Ending balance	$ 2,637	$ 7,315	$ 2,637	$ 7,315

FORECLOSED ASSETS - Gains (loss

FORECLOSED ASSETS - Gains (losses) on Foreclosed Assets (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
FORECLOSED ASSETS
Direct write-downs	$ (245)	$ (122)	$ (310)	$ (195)
Net gain on sales	20	108	118	321
Gains (losses) on foreclosed assets	$ (225)	$ (14)	$ (192)	$ 126

FORECLOSED ASSETS - Additional

FORECLOSED ASSETS - Additional Information (Details) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2022 USD ($) loan	Dec. 31, 2021 USD ($) loan	Jun. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Jun. 30, 2021 USD ($)	Dec. 31, 2020 USD ($)
FORECLOSED ASSETS
Carrying value of foreclosed asset	$ 2,637	$ 3,278	$ 2,891	$ 7,315	$ 7,757	$ 4,168
One-to-four family residential real estate property
FORECLOSED ASSETS
Carrying value of foreclosed asset	$ 0	$ 200
Number of loans in the process of foreclosure \| loan	4	4
Loan amount in the process of foreclosure	$ 400	$ 100

DEPOSITS - Interest bearing Dep

DEPOSITS - Interest bearing Deposits (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
DEPOSITS
Noninterest-bearing deposits	$ 1,017,710	$ 1,087,659
Interest-bearing demand	1,131,284	1,105,949
Money market	584,202	583,198
Savings	641,139	633,171
Time	269,108	328,208
Total interest-bearing deposits	2,625,733	2,650,526
Total deposits	$ 3,643,443	$ 3,738,185

DEPOSITS - Interest bearing D_2

DEPOSITS - Interest bearing Deposits - Narrative (Detail) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
DEPOSITS
Brokered deposits	$ 0	$ 4.2
Reciprocal transaction deposits, Money market deposits	5.7	6.9
Reciprocal transaction deposits, Time deposits	0.7	0.9
Time deposits in denominations of $250,000 or more	25.8	59.5
Time deposits in denominations of $100,000 or more	$ 89.9	$ 133.1

DEPOSITS - Interest expense on

DEPOSITS - Interest expense on Deposits (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
DEPOSITS
Interest-bearing demand	$ 144	$ 129	$ 430	$ 373
Money market	203	96	434	279
Savings	53	48	155	135
Time	187	291	643	1,034
Total interest expense on deposits	$ 587	$ 564	$ 1,662	$ 1,821

DERIVATIVE FINANCIAL INSTRUME_3

DERIVATIVE FINANCIAL INSTRUMENTS (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
DERIVATIVE FINANCIAL INSTRUMENTS
Cash pledged	$ 0.6	$ 0.8
Debt Securities, Pledged Status [Extensible Enumeration]	Asset Pledged as Collateral [Member]	Asset Pledged as Collateral [Member]
Debt securities pledged		$ 7.5
Debt Securities, Pledged Status [Extensible Enumeration]	Asset Pledged as Collateral [Member]	Asset Pledged as Collateral [Member]

DERIVATIVE FINANCIAL INSTRUME_4

DERIVATIVE FINANCIAL INSTRUMENTS - Derivative instrument assets and liabilities (Details) - Designated - Interest rate swap - Cash flow hedge - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Other assets
DERIVATIVE FINANCIAL INSTRUMENTS
Fair value recorded in other assets	$ 614
Derivative asset notional amount	$ 17,000
Other liabilities
DERIVATIVE FINANCIAL INSTRUMENTS
Derivative financial liability fair value		$ 680
Derivative financial liability notional amount		$ 17,000

DERIVATIVE FINANCIAL INSTRUME_5

DERIVATIVE FINANCIAL INSTRUMENTS - Interest rate contracts designated as cash flow hedges (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Cash flow hedge \| Subordinated debentures interest expense
DERIVATIVE FINANCIAL INSTRUMENTS
Amounts of gross gain (loss) reclassified from accumulated other comprehensive income (loss)	$ (14)	$ (105)	$ (177)	$ (306)

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		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
DERIVATIVE FINANCIAL INSTRUMENTS
Gross gains	$ 5,209	$ 1,843	$ 15,303	$ 12,281
Derivative, Gain, Statement of Income or Comprehensive Income [Extensible Enumeration]	Noninterest Income, Other Operating Income	Noninterest Income, Other Operating Income	Noninterest Income, Other Operating Income	Noninterest Income, Other Operating Income
Gross losses	$ (5,209)	$ (1,843)	$ (15,303)	$ (12,281)
Derivative, Loss, Statement of Income or Comprehensive Income [Extensible Enumeration]	Noninterest Income, Other Operating Income	Noninterest Income, Other Operating Income	Noninterest Income, Other Operating Income	Noninterest Income, Other Operating Income
Other assets
DERIVATIVE FINANCIAL INSTRUMENTS
Derivative asset notional amount	$ 109,468		$ 109,468		$ 115,921
Derivative financial assets fair value	7,431		7,431		8,697
Other assets \| Commercial Borrower
DERIVATIVE FINANCIAL INSTRUMENTS
Derivative asset notional amount					112,041
Derivative financial assets fair value					8,622
Other assets \| Financial Institutions Borrower
DERIVATIVE FINANCIAL INSTRUMENTS
Derivative asset notional amount	109,468		109,468		3,880
Derivative financial assets fair value	7,431		7,431		75
Other liabilities
DERIVATIVE FINANCIAL INSTRUMENTS
Derivative liability notional amount	109,468		109,468		115,921
Derivative financial liabilities fair value	(7,431)		(7,431)		(8,697)
Other liabilities \| Commercial Borrower
DERIVATIVE FINANCIAL INSTRUMENTS
Derivative liability notional amount	109,468		109,468		3,880
Derivative financial liabilities fair value	$ (7,431)		$ (7,431)		(75)
Other liabilities \| Financial Institutions Borrower
DERIVATIVE FINANCIAL INSTRUMENTS
Derivative liability notional amount					112,041
Derivative financial liabilities fair value					$ (8,622)

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
Balance	$ 373,809	$ 373,194	$ 411,881	$ 363,917
Other comprehensive (loss) income, before tax	(34,466)	(5,384)	(110,403)	(19,045)
Income tax expense (benefit)	(9,824)	(1,535)	(31,470)	(5,429)
Other comprehensive (loss) income, after tax	(24,642)	(3,849)	(78,933)	(13,616)
Balance	359,073	378,821	359,073	378,821
Accumulated Other Comprehensive Income (Loss)
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
Balance	(52,820)	8,386	1,471	18,153
Other comprehensive (loss) income before reclassifications	(34,984)	(5,684)	(111,814)	(19,777)
Reclassifications	518	300	1,411	732
Other comprehensive (loss) income, before tax	(34,466)	(5,384)	(110,403)	(19,045)
Income tax expense (benefit)	(9,824)	(1,535)	(31,470)	(5,429)
Other comprehensive (loss) income, after tax	(24,642)	(3,849)	(78,933)	(13,616)
Balance	(77,462)	4,537	(77,462)	4,537
Unrealized gains (losses) on available-for-sale securities
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
Balance	(42,061)	13,260	5,736	19,578
Transfer from available-for-sale to held-to-maturity			7,664	3,887
Other comprehensive (loss) income before reclassifications	(35,358)	(5,676)	(112,931)	(19,950)
Other comprehensive (loss) income, before tax	(35,358)	(5,676)	(112,931)	(19,950)
Income tax expense (benefit)	(10,079)	(1,618)	(32,191)	(5,687)
Other comprehensive (loss) income, after tax	(25,279)	(4,058)	(80,740)	(14,263)
Balance	(67,340)	9,202	(67,340)	9,202
Unrealized gains (losses) on held-to-maturity securities
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
Balance	(10,656)	(3,840)	(3,514)	(118)
Transfer from available-for-sale to held-to-maturity			(7,664)	(3,887)
Reclassifications	504	195	1,234	426
Other comprehensive (loss) income, before tax	504	195	1,234	426
Income tax expense (benefit)	144	56	352	122
Other comprehensive (loss) income, after tax	360	139	882	304
Balance	(10,296)	(3,701)	(10,296)	(3,701)
Derivatives
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
Balance	(103)	(1,034)	(751)	(1,307)
Other comprehensive (loss) income before reclassifications	374	(8)	1,117	173
Reclassifications	14	105	177	306
Other comprehensive (loss) income, before tax	388	97	1,294	479
Income tax expense (benefit)	111	27	369	136
Other comprehensive (loss) income, after tax	277	70	925	343
Balance	$ 174	$ (964)	$ 174	$ (964)

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Numerator:
Net income	$ 15,627	$ 13,715	$ 43,316	$ 42,677
Earnings allocated to participating securities	(17)	(25)	(51)	(81)
Numerator for earnings per share - basic	15,610	13,690	43,265	42,596
Numerator for earnings per share - diluted	$ 15,610	$ 13,690	$ 43,265	$ 42,596
Denominator:
Weighted average common shares outstanding	28,787,662	27,340,926	28,887,757	27,377,809
Dilutive effect of outstanding restricted stock units	72,643	13,921	56,761	11,412
Weighted average common shares outstanding, including all dilutive potential shares	28,860,305	27,354,847	28,944,518	27,389,221
Earnings per share - Basic	$ 0.54	$ 0.50	$ 1.50	$ 1.56
Earnings per share - Diluted	$ 0.54	$ 0.50	$ 1.49	$ 1.56

STOCK-BASED COMPENSATION PLAN_2

STOCK-BASED COMPENSATION PLANS (Details) $ in Thousands	3 Months Ended		9 Months Ended
STOCK-BASED COMPENSATION PLANS (Details) $ in Thousands	Sep. 30, 2022 USD ($) item	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($) item installment	Sep. 30, 2021 USD ($)	Dec. 31, 2021 USD ($)	Oct. 09, 2019 shares
STOCK-BASED COMPENSATION PLANS
Total stock-based compensation expense	$ 400	$ 141	$ 1,637	$ 581
Accelerated stock-based compensation expense			600
Restricted Stock Units
STOCK-BASED COMPENSATION PLANS
Total stock-based compensation expense	$ 230	153	$ 1,072	415
Number of shares participant is entitled to receive \| item	1		1
Fair value of units granted			$ 900	800
Intrinsic value of restricted stock units			700	300
Unrecognized compensation cost related to non-vested stock-based compensation agreements	$ 1,100		$ 1,100
Weighted average remaining service period			1 year 8 months 12 days
Performance Shares
STOCK-BASED COMPENSATION PLANS
Total stock-based compensation expense	119	75	$ 530	123
Unrecognized compensation cost related to non-vested stock-based compensation agreements	$ 500		$ 500
Weighted average remaining service period			1 year 8 months 12 days
Performance Shares \| Key employees
STOCK-BASED COMPENSATION PLANS
Fair value of units granted			$ 500	400
Performance Shares \| Minimum
STOCK-BASED COMPENSATION PLANS
Percentage of the number of units granted that may be earned	0%		0%
Performance Shares \| Maximum
STOCK-BASED COMPENSATION PLANS
Percentage of the number of units granted that may be earned	150%		150%
Total awards classified as equity
STOCK-BASED COMPENSATION PLANS
Total stock-based compensation expense	$ 349	228	$ 1,602	538
Stock Appreciation Rights
STOCK-BASED COMPENSATION PLANS
Total stock-based compensation expense	51	$ (87)	35	$ 43
Unrecognized compensation cost related to non-vested stock-based compensation agreements	33		$ 33
Number of installments \| installment			4
Stock appreciation rights plan liability recorded for the outstanding units	500		$ 500		$ 500
Stock appreciation rights plan liability recorded for the previously exercised units	$ 500		$ 500		$ 800
Number of installments in which the liability recorded for previously exercised units will be paid \| installment			2
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		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Restricted Stock Units
Stock-based compensation plans
Outstanding (in units)	120,631	99,597	109,244	71,000
Granted (in units)			46,312	50,347
Exercised (in units)			(34,925)	(20,225)
Forfeited (in units)	(1,328)		(1,328)	(1,525)
Outstanding (in units)	119,303	99,597	119,303	99,597
Weighted Average Grant Date Assigned Value
Outstanding (in dollars per unit)	$ 17.98	$ 17.37	$ 17.27	$ 18.98
Granted (in dollars per unit)			19.11	15.72
Exercised (in dollars per unit)			17.26	18.86
Forfeited (in dollars per unit)	18.35		18.35	18.11
Outstanding (in dollars per unit)	$ 17.98	$ 17.37	$ 17.98	$ 17.37
Performance Shares
Stock-based compensation plans
Outstanding (in units)	62,067	28,697	38,344
Granted (in units)	0	0	23,723	28,697
Outstanding (in units)	62,067	28,697	62,067	28,697
Weighted Average Grant Date Assigned Value
Outstanding (in dollars per unit)	$ 17.02	$ 15.53	$ 15.72
Granted (in dollars per unit)	0	0	19.14	$ 15.53
Outstanding (in dollars per unit)	$ 17.02	$ 15.53	$ 17.02	$ 15.53
Stock Appreciation Rights
Stock-based compensation plans
Outstanding (in units)	91,800	97,920	97,920	105,570
Exercised (in units)			(6,120)	(6,120)
Expired (in units)				(1,530)
Outstanding (in units)	91,800	97,920	91,800	97,920
Exercisable (in shares)	85,680		85,680
Weighted Average Grant Date Assigned Value
Outstanding (in dollars per unit)	$ 16.32	$ 16.32	$ 16.32	$ 16.32
Exercised (in dollars per unit)			16.32	16.32
Expired (in dollars per unit)				(16.32)
Outstanding (in dollars per unit)	$ 16.32	$ 16.32	$ 16.32	$ 16.32
Weighted average remaining contractual term			6 years 6 months

STOCK-BASED COMPENSATION PLAN_4

STOCK-BASED COMPENSATION PLANS - Summary of assumptions used (Details) - Stock Appreciation Rights	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	3.97%	1.40%
Expected volatility	36.17%	35.52%
Expected life (in years)	6 years 10 months 24 days	7 years 8 months 12 days
Expected dividend yield	3.53%	3.20%

REGULATORY MATTERS (Details)

REGULATORY MATTERS (Details) $ in Thousands	Sep. 30, 2022 USD ($)	Dec. 31, 2021 USD ($)
REGULATORY MATTERS
Total Capital (to Risk Weighted Assets), For Capital Adequacy Purposes Ratio (as a percent)	0.025	0.025
Heartland Bank
REGULATORY MATTERS
Total Capital (to Risk Weighted Assets), Actual Amount	$ 484,065	$ 452,162
Total Capital (to Risk Weighted Assets), For Capital Adequacy Purposes Amount	248,216	226,950
Total Capital (to Risk Weighted Assets), To Be Well Capitalized Under Prompt Corrective Action Provisions Amount	310,271	283,688
Tier 1 Capital (to Risk Weighted Assets), Actual Amount	459,005	428,226
Tier 1 Capital (to Risk Weighted Assets), For Capital Adequacy Purposes Amount	186,162	170,213
Tier 1 Capital (to Risk Weighted Assets), To Be Well Capitalized Under Prompt Corrective Action Provisions Amount	248,216	226,950
Common Equity Tier 1 Capital (to Risk Weighted Assets), Actual Amount	459,005	428,226
Common Equity Tier 1 Capital (to Risk Weighted Assets), For Capital Adequacy Purposes Amount	139,622	127,659
Common Equity Tier 1 Capital (to Risk Weighted Assets), To Be Well Capitalized Under Prompt Corrective Action Provisions Amount	201,676	184,397
Tier 1 Capital (to Average Assets), Actual Amount	459,005	428,226
Tier 1 Capital (to Average Assets), For Capital Adequacy Purposes Amount	169,515	169,070
Tier 1 Capital (to Average Assets), To Be Well Capitalized Under Prompt Corrective Action Provisions Amount	$ 211,894	$ 211,337
Total Capital (to Risk Weighted Assets), Actual Ratio (as a percent)	0.1560	0.1594
Total Capital (to Risk Weighted Assets), For Capital Adequacy Purposes Ratio (as a percent)	0.0800	0.0800
Total Capital (to Risk Weighted Assets), To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio (as a percent)	0.1000	0.1000
Tier 1 Capital (to Risk Weighted Assets), Actual Ratio (as a percent)	0.1479	0.1509
Tier 1 Capital (to Risk Weighted Assets), For Capital Adequacy Purposes Ratio (as a percent)	0.0600	0.0600
Tier 1 Capital (to Risk Weighted Assets), To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio (as a percent)	0.0800	0.0800
Common Equity Tier 1 Capital (to Risk Weighted Assets), Actual Ratio (as a percent)	0.1479%	0.1509%
Common Equity Tier 1 Capital (to Risk Weighted Assets), For Capital Adequacy Purposes Ratio (as a percent)	0.045%	0.045%
Common Equity Tier 1 Capital (to Risk Weighted Assets), To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio (as a percent)	0.065%	0.065%
Tier 1 Capital (to Average Assets), Actual Ratio (as a percent)	0.1083	0.1013
Tier 1 Capital (to Average Assets), For Capital Adequacy Purposes Ratio (as a percent)	0.0400	0.0400
Tier 1 Capital (to Average Assets), To Be well Capitalized Under Prompt Corrective Action Provisions Ratio (as a percent)	0.0500	0.0500
Consolidated HBT
REGULATORY MATTERS
Total Capital (to Risk Weighted Assets), Actual Amount	$ 507,277	$ 479,320
Total Capital (to Risk Weighted Assets), For Capital Adequacy Purposes Amount	248,395	227,115
Tier 1 Capital (to Risk Weighted Assets), Actual Amount	442,841	416,068
Tier 1 Capital (to Risk Weighted Assets), For Capital Adequacy Purposes Amount	186,296	170,336
Common Equity Tier 1 Capital (to Risk Weighted Assets), Actual Amount	406,243	379,519
Common Equity Tier 1 Capital (to Risk Weighted Assets), For Capital Adequacy Purposes Amount	139,722	127,752
Tier 1 Capital (to Average Assets), Actual Amount	442,841	416,068
Tier 1 Capital (to Average Assets), For Capital Adequacy Purposes Amount	$ 169,611	$ 169,171
Total Capital (to Risk Weighted Assets), Actual Ratio (as a percent)	0.1634	0.1688
Total Capital (to Risk Weighted Assets), For Capital Adequacy Purposes Ratio (as a percent)	0.0800	0.0800
Tier 1 Capital (to Risk Weighted Assets), Actual Ratio (as a percent)	0.1426	0.1466
Tier 1 Capital (to Risk Weighted Assets), For Capital Adequacy Purposes Ratio (as a percent)	0.0600	0.0600
Common Equity Tier 1 Capital (to Risk Weighted Assets), Actual Ratio (as a percent)	0.1308%	0.1337%
Common Equity Tier 1 Capital (to Risk Weighted Assets), For Capital Adequacy Purposes Ratio (as a percent)	0.045%	0.045%
Tier 1 Capital (to Average Assets), Actual Ratio (as a percent)	0.1044	0.0984
Tier 1 Capital (to Average Assets), For Capital Adequacy Purposes Ratio (as a percent)	0.0400	0.0400

FAIR VALUE OF FINANCIAL INSTR_3

FAIR VALUE OF FINANCIAL INSTRUMENTS - Recurring basis (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
FAIR VALUE OF FINANCIAL INSTRUMENTS
Debt securities available-for-sale, at fair value	$ 853,740	$ 942,168
Equity securities	2,996	3,443
Fair value	10,440	7,994
U.S. Treasury
FAIR VALUE OF FINANCIAL INSTRUMENTS
Debt securities available-for-sale, at fair value	153,572	108,976
U.S. government agency
FAIR VALUE OF FINANCIAL INSTRUMENTS
Debt securities available-for-sale, at fair value	57,023	128,105
Municipal securities
FAIR VALUE OF FINANCIAL INSTRUMENTS
Debt securities available-for-sale, at fair value	241,911	297,077
Mortgage-backed: Agency residential
FAIR VALUE OF FINANCIAL INSTRUMENTS
Debt securities available-for-sale, at fair value	204,907	179,466
Mortgage-backed: Agency commercial
FAIR VALUE OF FINANCIAL INSTRUMENTS
Debt securities available-for-sale, at fair value	137,376	164,061
Corporate
FAIR VALUE OF FINANCIAL INSTRUMENTS
Debt securities available-for-sale, at fair value	58,951	64,483
Recurring
FAIR VALUE OF FINANCIAL INSTRUMENTS
Equity securities	2,996	3,443
Fair value	10,440	7,994
Derivative financial assets fair value	8,045	8,697
Derivative financial liabilities fair value	7,431	9,377
Recurring \| U.S. Treasury
FAIR VALUE OF FINANCIAL INSTRUMENTS
Debt securities available-for-sale, at fair value	153,572	108,976
Recurring \| U.S. government agency
FAIR VALUE OF FINANCIAL INSTRUMENTS
Debt securities available-for-sale, at fair value	57,023	128,105
Recurring \| Municipal securities
FAIR VALUE OF FINANCIAL INSTRUMENTS
Debt securities available-for-sale, at fair value	241,911	297,077
Recurring \| Mortgage-backed: Agency residential
FAIR VALUE OF FINANCIAL INSTRUMENTS
Debt securities available-for-sale, at fair value	204,907	179,466
Recurring \| Mortgage-backed: Agency commercial
FAIR VALUE OF FINANCIAL INSTRUMENTS
Debt securities available-for-sale, at fair value	137,376	164,061
Recurring \| Corporate
FAIR VALUE OF FINANCIAL INSTRUMENTS
Debt securities available-for-sale, at fair value	58,951	64,483
Recurring \| Level 1
FAIR VALUE OF FINANCIAL INSTRUMENTS
Equity securities	2,996	3,443
Recurring \| Level 1 \| U.S. Treasury
FAIR VALUE OF FINANCIAL INSTRUMENTS
Debt securities available-for-sale, at fair value	153,572	108,976
Recurring \| Level 2
FAIR VALUE OF FINANCIAL INSTRUMENTS
Derivative financial assets fair value	8,045	8,697
Derivative financial liabilities fair value	7,431	9,377
Recurring \| Level 2 \| U.S. government agency
FAIR VALUE OF FINANCIAL INSTRUMENTS
Debt securities available-for-sale, at fair value	57,023	128,105
Recurring \| Level 2 \| Municipal securities
FAIR VALUE OF FINANCIAL INSTRUMENTS
Debt securities available-for-sale, at fair value	241,911	297,077
Recurring \| Level 2 \| Mortgage-backed: Agency residential
FAIR VALUE OF FINANCIAL INSTRUMENTS
Debt securities available-for-sale, at fair value	204,907	179,466
Recurring \| Level 2 \| Mortgage-backed: Agency commercial
FAIR VALUE OF FINANCIAL INSTRUMENTS
Debt securities available-for-sale, at fair value	137,376	164,061
Recurring \| Level 2 \| Corporate
FAIR VALUE OF FINANCIAL INSTRUMENTS
Debt securities available-for-sale, at fair value	58,951	64,483
Recurring \| Level 3
FAIR VALUE OF FINANCIAL INSTRUMENTS
Fair value	$ 10,440	$ 7,994

FAIR VALUE OF FINANCIAL INSTR_4

FAIR VALUE OF FINANCIAL INSTRUMENTS - Mortgage Servicing Rights (Details) $ in Thousands	Sep. 30, 2022 USD ($)	Dec. 31, 2021 USD ($)
FAIR VALUE OF FINANCIAL INSTRUMENTS
Fair value	$ 10,440	$ 7,994
Recurring
FAIR VALUE OF FINANCIAL INSTRUMENTS
Fair value	10,440	7,994
Recurring \| Level 3
FAIR VALUE OF FINANCIAL INSTRUMENTS
Fair value	$ 10,440	$ 7,994
Valuation Technique	us-gaap:ValuationTechniqueDiscountedCashFlowMember	us-gaap:ValuationTechniqueDiscountedCashFlowMember
Recurring \| Level 3 \| Constant pre-payment rates (CPR)
FAIR VALUE OF FINANCIAL INSTRUMENTS
Fair value	$ 10,440	$ 7,994
Recurring \| Level 3 \| Constant pre-payment rates (CPR) \| Minimum
FAIR VALUE OF FINANCIAL INSTRUMENTS
Measurement input	5.5	7
Recurring \| Level 3 \| Constant pre-payment rates (CPR) \| Maximum
FAIR VALUE OF FINANCIAL INSTRUMENTS
Measurement input	59.7	88.9
Recurring \| Level 3 \| Constant pre-payment rates (CPR) \| Weighted average
FAIR VALUE OF FINANCIAL INSTRUMENTS
Measurement input	8.2	11.7
Recurring \| Level 3 \| Discount rate \| Minimum
FAIR VALUE OF FINANCIAL INSTRUMENTS
Measurement input	9	9
Recurring \| Level 3 \| Discount rate \| Maximum
FAIR VALUE OF FINANCIAL INSTRUMENTS
Measurement input	11.5	11
Recurring \| Level 3 \| Discount rate \| Weighted average
FAIR VALUE OF FINANCIAL INSTRUMENTS
Measurement input	9.3	9

FAIR VALUE OF FINANCIAL INSTR_5

FAIR VALUE OF FINANCIAL INSTRUMENTS - Nonrecurring Basis (Details) - Nonrecurring - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
FAIR VALUE OF FINANCIAL INSTRUMENTS
Loans held for sale	$ 2,297	$ 4,942
Collateral-dependent impaired loans	17,517	22,423
Bank premises held for sale	281	1,452
Foreclosed assets	2,637	3,278
Level 2
FAIR VALUE OF FINANCIAL INSTRUMENTS
Loans held for sale	2,297	4,942
Level 3
FAIR VALUE OF FINANCIAL INSTRUMENTS
Collateral-dependent impaired loans	17,517	22,423
Bank premises held for sale	281	1,452
Foreclosed assets	$ 2,637	$ 3,278

FAIR VALUE OF FINANCIAL INSTR_6

FAIR VALUE OF FINANCIAL INSTRUMENTS - Unobservable inputs used in nonrecurring measurements (Details) - Nonrecurring - Level 3 $ in Thousands	Sep. 30, 2022 USD ($)	Dec. 31, 2021 USD ($)
Collateral-dependent impaired loans \| Appraisal of collateral
FAIR VALUE OF FINANCIAL INSTRUMENTS
Fair Value	$ 17,517	$ 22,423
Alternative Investment, Measurement Input [Extensible List]	hbt:AppraisalAdjustmentsMember	hbt:AppraisalAdjustmentsMember
Bank premises held for sale \| Appraisal
FAIR VALUE OF FINANCIAL INSTRUMENTS
Fair Value	$ 281	$ 1,452
Measurement input	7	7
Alternative Investment, Measurement Input [Extensible List]	hbt:AppraisalAdjustmentsMember	hbt:AppraisalAdjustmentsMember
Bank premises held for sale \| Appraisal \| Weighted average
FAIR VALUE OF FINANCIAL INSTRUMENTS
Measurement input	7	7
Foreclosed assets \| Appraisal
FAIR VALUE OF FINANCIAL INSTRUMENTS
Fair Value	$ 2,637	$ 3,278
Measurement input	7	7
Alternative Investment, Measurement Input [Extensible List]	hbt:AppraisalAdjustmentsMember	hbt:AppraisalAdjustmentsMember
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	Sep. 30, 2022	Dec. 31, 2021
Financial assets:
Debt securities held-to-maturity	$ 481,692	$ 336,027
Level 1 \| Carrying Amount
Financial assets:
Cash and cash equivalents	78,215	409,268
Level 1 \| Estimated Fair Value
Financial assets:
Cash and cash equivalents	78,215	409,268
Level 2 \| Carrying Amount
Financial assets:
Debt securities held-to-maturity	546,694	336,185
Accrued interest receivable	16,881	14,901
Financial liabilities:
Securities sold under agreements to repurchase	48,130	61,256
Accrued interest payable	607	1,043
Level 2 \| Estimated Fair Value
Financial assets:
Debt securities held-to-maturity	481,692	336,027
Accrued interest receivable	16,881	14,901
Financial liabilities:
Securities sold under agreements to repurchase	48,130	61,256
Accrued interest payable	607	1,043
Level 3 \| Carrying Amount
Financial assets:
Restricted stock	4,050	2,739
Loans, net	2,554,868	2,475,753
Investments in unconsolidated subsidiaries	1,165	1,165
Financial liabilities:
Time deposits	269,108	328,208
Level 3 \| Estimated Fair Value
Financial assets:
Restricted stock	4,050	2,739
Loans, net	2,548,050	2,494,686
Investments in unconsolidated subsidiaries	1,165	1,165
Financial liabilities:
Time deposits	260,220	327,779
Subordinated Notes \| Level 3 \| Carrying Amount
Financial liabilities:
Subordinated debt	39,376	39,316
Subordinated Notes \| Level 3 \| Estimated Fair Value
Financial liabilities:
Subordinated debt	37,667	41,602
Junior Subordinated Debentures Issued \| Level 3 \| Carrying Amount
Financial liabilities:
Subordinated debt	37,763	37,714
Junior Subordinated Debentures Issued \| Level 3 \| Estimated Fair Value
Financial liabilities:
Subordinated debt	$ 36,210	$ 33,640

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Standby letters of credit
COMMITMENTS AND CONTINGENCIES
Financial instruments off-balance sheet credit risks	$ 16,918	$ 12,960
Commitments to extend credit
COMMITMENTS AND CONTINGENCIES
Financial instruments off-balance sheet credit risks	$ 667,788	$ 609,947