HBT Financial, Inc. announces CFO transition plan | news

BLOOMINGTON, Ill., Aug. 18, 2022 (GLOBE NEWSWIRE) — HBT Financial, Inc. (NASDAQ: HBT) (the “Company”), the holding company of Heartland Bank and Trust Company (“Heartland Bank”), today announced that Matthew J. Doherty, Executive Vice President and Chief Financial Officer, will step down as Chief Financial Officer on December 31, 2022, but will remain with Heartland Bank as Treasurer as a step in the eventual retirement of Mr. Doherty of the Company. Peter Chapman, formerly Executive Vice President and Chief Financial Officer of Great Western Bancorp, Inc. (“Great Western”), will join the company on October 1, 2022, after relocating to the Bloomington, Illinois area, and assuming the role of Chief Financial Officer on January 1, 2023 .

Fred L. Drake, the company’s chairman and chief executive officer, commented: “On behalf of the entire company, I would like to thank Matt Doherty for the valuable role he played during his 12 years as CFO and his leadership through a period of significant growth that included a number of acquisitions and our initial public offering.In his new role as Treasurer, we will continue to benefit from Matt’s many years of experience advising and managing the investments of community bank fixed income. We have known Pete Chapman for several years and are very pleased to have Matt succeed him as CFO. We believe Pete’s experience as a CFO of a larger regional bank will be valuable as that we continue to grow our franchise in the future.”

Peter Chapman served as executive vice president and chief financial officer of Great Western, a regional bank holding company with $13 billion in assets and 175 branches in nine states, since the November 2012 merger with First Interstate BancSystem, Inc. in February 2022. In addition to his CFO responsibilities, Mr. Chapman also had oversight of Great Western’s IT, operations, product management, credit card and mortgage businesses. Prior to joining Great Western, Mr. Chapman held a number of senior finance and operational roles at National Australia Bank and was a senior director within Ernst & Young’s financial services practice in Australia and New York. Mr. Chapman is an accountant and holds a Bachelor of Accountancy from the Royal Melbourne Institute of Technology.

About HBT Financial, Inc.

HBT Financial, Inc., headquartered in Bloomington, Illinois, is the holding company of Heartland Bank and Trust Company, and has banking roots that date back to 1920. HBT offers a full suite of business, commercial, wealth management and retail businesses . banking products and services for individuals, businesses and municipal entities throughout central and northeastern Illinois and eastern Iowa through 61 branches. As of June 30, 2022, HBT had total assets of $4.2 billion, total loans of $2.5 billion, and total deposits of $3.7 billion.

Forward-looking statements

Readers should note that, in addition to the historical information contained herein, this press release contains, and future oral and written statements by the Company and its management may contain, “forward-looking statements” within the meaning of the Act of Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as “will,” “propose,” “may,” “plan,” “seek,” “expect,” “attempt,” “estimate.” anticipate”, “believe”, “continue” or “should” or similar terminology. Any forward-looking statements presented herein speak only as of the date of this press release, and the company undertakes no obligation to update or revise any forward-looking statements to reflect changes in assumptions, the occurrence of unanticipated events or another way. .

Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to: (i) the strength of local, state, national and international economies (including the effects of inflationary pressures and limitations of the supply chain); (ii) the economic impact of any future terrorist threats and attacks, widespread disease or pandemic (including the COVID-19 pandemic in the United States), acts of war or other threats thereof, or other adverse external events that may cause an economic deterioration or the instability of credit markets and the response of local, state and national governments to such adverse external events; (iii) changes in accounting policies and practices, as may be adopted by state and federal regulatory agencies, the FASB or the PCAOB; (iv) changes in state and federal government laws, regulations and policies relating to the Company’s general business; (v) changes in interest rates and prepayment rates on the Company’s assets (including the impact of the LIBOR phase-out); (vi) increased competition in the financial services industry and the inability to attract new customers; (vii) changes in technology and the ability to develop and maintain secure and reliable electronic systems; (viii) unexpected results of acquisitions, which may include the failure to realize anticipated benefits from acquisitions and the possibility that transaction costs may be higher than anticipated; (ix) the loss of key executives or employees; (x) changes in consumer spending; (xi) unexpected results of existing or new litigation involving the Company; (xii) the economic impact of exceptional weather events such as tornadoes, floods and snowstorms; and (xiii) the Company’s ability to manage the risks associated with the foregoing. Readers should note that the forward-looking statements included in this press release are not guarantees of future events and that actual events may differ materially from those implied or implied by the forward-looking statements. Additional information about the Company and its business, including additional factors that could materially affect the Company’s financial results, is included in the Company’s filings with the Securities and Exchange Commission.

CONTACT:

Tony Rossi

HBTIR@hbtbank.com

(310) 622-8221



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