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CONDENSED PARENT COMPANY ONLY FINANCIAL STATEMENTS | 12 Months Ended
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Dec. 31, 2019
CONDENSED PARENT COMPANY ONLY FINANCIAL STATEMENTS |
CONDENSED PARENT COMPANY ONLY FINANCIAL STATEMENTS | NOTE 21 – CONDENSED PARENT COMPANY ONLY FINANCIAL STATEMENTS Following are the condensed financial statements of HBT Financial, Inc. (Parent only). Condensed Parent Company Only Balance Sheets
|  | December 31
|  | 2019 |  | 2018
ASSETS |  | (dollars in thousands)
Cash and cash equivalents |  | $ | 4,978 |  | $ | 2,169
Investment in subsidiaries: |  |  |  |  |  |
Bank |  |  | 363,860 |  |  | 375,194
Non-bank |  |  | 1,201 |  |  | 1,251
Other assets |  |  | 1,081 |  |  | 422
Total assets |  | $ | 371,120 |  | $ | 379,036
LIABILITIES |  |  |  |  |  |
Subordinated debentures |  | $ | 37,583 |  | $ | 37,517
Other liabilities |  |  | 619 |  |  | 1,123
Total liabilities |  |  | 38,202 |  |  | 38,640
STOCKHOLDERS' EQUITY |  |  | 332,918 |  |  | 340,396
Total liabilities and stockholders' equity |  | $ | 371,120 |  | $ | 379,036
Condensed Parent Company Only Statements of Income
|  | Years ended December 31
|  | 2019 |  | 2018 |  | 2017
INCOME |  | (dollars in thousands)
Dividends received from subsidiaries: |  |  |  |  |  |  |  |  |
Bank |  | $ | 109,969 |  | $ | 44,446 |  | $ | 57,327
Non-bank |  |  | 385 |  |  | 941 |  |  | 1,900
Undistributed earnings from subsidiaries: |  |  |  |  |  |  |  |  |
Bank |  |  | (41,202) |  |  | 23,239 |  |  | (115)
Non-bank |  |  | (151) |  |  | (1,984) |  |  | (404)
Other income |  |  | 52 |  |  | 1 |  |  | 35
Total income |  |  | 69,053 |  |  | 66,643 |  |  | 58,743
EXPENSES |  |  |  |  |  |  |  |  |
Interest expense |  |  | 1,922 |  |  | 1,795 |  |  | 1,525
Other expense |  |  | 1,025 |  |  | 1,085 |  |  | 1,134
Total expenses |  |  | 2,947 |  |  | 2,880 |  |  | 2,659
INCOME BEFORE INCOME TAX BENEFIT |  |  | 66,106 |  |  | 63,763 |  |  | 56,084
INCOME TAX BENEFIT |  |  | (759) |  |  | (36) |  |  | (19)
NET INCOME |  | $ | 66,865 |  | $ | 63,799 |  | $ | 56,103
Condensed Parent Company Only Statements of Cash Flows
|  | Year ended December 31
|  | 2019 |  | 2018 |  | 2017
CASH FLOWS FROM OPERATING ACTIVITIES |  | (dollars in thousands)
Net income |  | $ | 66,865 |  | $ | 63,799 |  | $ | 56,103
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |  |  |  |  |  |  |
Undistributed earnings of consolidated subsidiaries |  |  | 41,353 |  |  | (21,255) |  |  | 519
Amortization of subordinated debenture purchase accounting adjustment |  |  | 66 |  |  | 66 |  |  | 65
Changes in other assets and liabilities, net |  |  | (1,912) |  |  | 700 |  |  | 306
Net cash provided by operating activities |  |  | 106,372 |  |  | 43,310 |  |  | 56,993
CASH FLOWS FROM INVESTING ACTIVITIES |  |  |  |  |  |  |  |  |
Capital contribution to bank subsidiary |  |  | (17,000) |  |  | — |  |  | —
Capital contribution to non-bank subsidiary |  |  | (100) |  |  | — |  |  | —
Net cash used in investing activities |  |  | (17,100) |  |  | — |  |  | —
CASH FLOWS FROM FINANCING ACTIVITIES |  |  |  |  |  |  |  |  |
Issuance of common stock |  |  | 138,493 |  |  | — |  |  | —
Repurchase of common stock |  |  | — |  |  | (907) |  |  | —
Cash dividends |  |  | (224,956) |  |  | (42,621) |  |  | (57,069)
Net cash used in financing activities |  |  | (86,463) |  |  | (43,528) |  |  | (57,069)
NET CHANGE IN CASH AND EQUIVALENTS |  |  | 2,809 |  |  | (218) |  |  | (76)
CASH AND CASH EQUIVALENTS |  |  |  |  |  |  |  |  |
Beginning of year |  |  | 2,169 |  |  | 2,387 |  |  | 2,463
End of year |  | $ | 4,978 |  | $ | 2,169 |  | $ | 2,387

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e24072-122690 Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=108774443&loc=d3e5283-111683 + Details
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