What HBT Financial, Inc. told the SEC could break it.

HBT Financial relies extensively on information systems and electronic resources to operate, and nearly all of its customers, service providers and business partners — including the providers of its online banking, mobile banking and accounting systems — depend on their own electronic systems; any of these systems can be compromised (including by employees or third parties), so a cyberattack, data breach or third-party-system failure could disrupt operations, expose customer data and cause financial and reputational harm.

“We rely extensively on various information systems and other electronic resources to operate our business. In addition, nearly all of our customers, service providers and other business partners on whom we depend, including the providers of our online banking, mobile banking and accounting systems, use these systems and their own electronic information systems. Any of these systems can be compromised”

HBT Financial's bank (Heartland Bank and Trust) serves consumers, businesses and municipal entities throughout Illinois and eastern Iowa, and extension of credit is generally limited to those primary trade areas, with real estate and commercial loans the principal areas of concentration; this geographic and product concentration means a downturn in the central-Illinois/eastern-Iowa economy or local commercial-real-estate markets would disproportionately impair its loan quality and earnings.

“Real estate and commercial loans are principal areas of concentration. The Company also strives to meet the borrowing needs of the consumers in its market areas. Extension of credit is generally limited to the primary trade areas of the Company.”

As a financial holding company, HBT Financial is subject to extensive federal and state banking regulation — the Bank Holding Company Act and Dodd-Frank, regular examination by federal and state banking agencies, anti-money-laundering and sanctions laws enforced by the Treasury, change-in-control restrictions, and merger/acquisition application reviews — and the effects of these statutes, regulatory policies and accounting rules are significant to its operations; changes in laws, supervisory priorities (including responses to bank failures) or capital rules could constrain its business and raise compliance costs.

“anti-money laundering and sanctions laws enforced by the U.S. Department of the Treasury (the “Treasury”) have an impact on our business. The effect of these statutes, regulations, regulatory policies, and accounting rules are significant to our operations and results.”

HBT Financial pursues growth through acquisitions and must successfully integrate acquired banks: on March 1, 2026 it completed its ~$182 million acquisition of CNB (holding company for CNB Bank & Trust, N.A.), funded with 5.5 million shares plus $34 million cash, following its 2023 acquisition of Town and Country Financial; acquisitions carry integration, credit-quality, goodwill-impairment, dilution and execution risks, and a failure to realize expected synergies or integrate operations smoothly could adversely affect its financial condition and results.

“On March 1, 2026, HBT Financial completed its acquisition of CNB, the holding company for CNB Bank & Trust, N.A. (“CNB Bank”).”