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ACQUISITIONS (Tables)
 12 Months Ended
Dec. 31, 2023
Business Combination and Asset Acquisition [Abstract]  
Schedule of expenses incurred related to the acquisition During the years ended December 31, 2023 and 2022, HBT Financial incurred the following expenses related to the acquisition of Town and Country:
Year Ended
(dollars in thousands)December 31, 2023December 31, 2022
PROVISION FOR CREDIT LOSSES$5,924$—
NONINTEREST EXPENSE
Salaries3,584—
Furniture and equipment39—
Data processing2,031304
Marketing and customer relations24—
Loan collection and servicing125—
Legal fees and other noninterest expense1,964788
Total noninterest expense7,7671,092
Total Town and Country acquisition-related expenses$13,691$1,092
Schedule of recognized identified assets acquired and liabilities assumed
The fair value of the assets acquired and liabilities assumed from Town and Country on the acquisition date of February 1, 2023 were as follows (dollars in thousands):
Fair Value
Assets acquired:
Cash and cash equivalents$23,542
Interest-bearing time deposits with banks249
Debt securities167,869
Equity securities301
Restricted stock2,822
Loans held for sale1,612
Loans, before allowance for credit losses635,376
Allowance for credit losses(1,247)
Loans, net of allowance for credit losses634,129
Bank owned life insurance15,782
Bank premises and equipment14,828
Foreclosed assets271
Intangible assets22,282
Mortgage servicing rights10,469
Investments in unconsolidated subsidiaries449
Accrued interest receivable3,113
Other assets8,940
Total assets acquired906,658
Liabilities assumed:
Deposits720,417
FHLB advances86,439
Junior subordinated debentures14,949
Other liabilities5,999
Total liabilities assumed827,804
Net assets acquired$78,854
Consideration paid:
Cash$37,996
Common stock71,356
Total consideration paid$109,352
Goodwill$30,498
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 banks739 
Debt securities18,295 
Equity securities with readily determinable fair value43 
Restricted stock796 
Loans194,576 
Bank owned life insurance7,352 
Bank premises and equipment3,667 
Core deposit intangible assets199 
Mortgage servicing rights370 
Accrued interest receivable886 
Other assets1,340 
Total assets acquired234,125 
Liabilities assumed:
Deposits181,586 
Securities sold under agreements to repurchase4,080 
FHLB advances12,625 
Other liabilities1,633 
Total liabilities assumed199,924 
Net assets acquired$34,201 
Consideration paid:
Cash$10,633 
Common stock29,270 
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 receivable196,104 
Estimate of contractual cash flows not expected to be collected1,045 
Business Combination, Acquisition Related Expenses
During the year ended December 31, 2021, HBT Financial incurred the following expenses related to the acquisition of NXT (dollars in thousands):
Salaries$65
Furniture and equipment18
Data processing355
Marketing and customer relations12
Loan collection and servicing11
Legal fees and other noninterest expense955
Total NXT acquisition-related expenses$1,416
Schedule of the components of the purchase price of financing receivables purchased with credit deterioration The following table provides a summary of these PCD loans at acquisition (dollars in thousands):
Unpaid principal balance$89,822
Allowance for credit losses at acquisition(1,247)
Non-credit discount(2,218)
Purchase price$86,357
Business acquisition, pro forma information The acquisition-related expenses that have been recognized are included in net income in the following table.
Pro Forma
Year Ended December 31,
(dollars in thousands, except per share data)20232022
Total revenues (net interest income and noninterest income)$230,171$226,229
Net income66,05668,417
Earnings per share - basic2.072.12
Earnings per share - diluted2.062.12