HBT Financial, Inc. Announces Chief Financial Officer Transition Plan
August 18 2022 - 4:05PM
HBT Financial, Inc. (NASDAQ: HBT) (the “Company”), the holding
company for Heartland Bank and Trust Company (“Heartland Bank”),
today announced that Matthew J. Doherty, Executive Vice President
and Chief Financial Officer, will step down from the Chief
Financial Officer position on December 31, 2022, but will
remain with Heartland Bank serving as Treasurer as a step in Mr.
Doherty’s eventual retirement from the Company. Peter Chapman,
previously the 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 assume the role of Chief Financial
Officer on January 1, 2023.
Fred L. Drake, Chairman and Chief Executive Officer of the
Company, 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 our Chief Financial Officer 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 on and managing the fixed income investments of
community banks. We have known Pete Chapman for several years, and
we are very pleased that he will be succeeding Matt as our Chief
Financial Officer. We believe Pete’s experience as CFO of a larger
regional bank will be valuable as we continue to grow our franchise
in the future.”
Peter Chapman served as the 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, from November 2012 through its merger with First
Interstate BancSystem, Inc. in February 2022. In addition to
his CFO responsibilities, Mr. Chapman also had oversight of IT,
Operations, Product Management, Credit Card and Mortgage businesses
at Great Western. Prior to joining Great Western, Mr. Chapman held
a number of senior operational and financial positions at National
Australia Bank and was a Senior Manager within the financial
services practice of Ernst & Young in Australia and New York.
Mr. Chapman is a Chartered Accountant and holds a Bachelor of
Accounting degree from Royal Melbourne Institute of Technology.
About HBT Financial, Inc.
HBT Financial, Inc., headquartered in Bloomington, Illinois, is
the holding company for Heartland Bank and Trust Company, and has
banking roots that can be traced back to 1920. HBT 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 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 of the Company and its
management may contain, "forward-looking statements" within the
meanings of the 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. Forward-looking statements generally can be identified by
the use of forward-looking terminology such as "will," "propose,"
"may," "plan," "seek," "expect," "intend," "estimate,"
"anticipate," "believe," "continue," or “should,” or similar
terminology. Any forward-looking statements presented herein are
made only as of the date of this press release, and the Company
does not undertake any obligation to update or revise any
forward-looking statements to reflect changes in assumptions, the
occurrence of unanticipated events, or otherwise.
Factors that could cause actual results to differ materially
from these forward-looking statements include, but are not limited
to: (i) the strength of the local, state, national and
international economies (including effects of inflationary
pressures and supply chain constraints); (ii) the economic impact
of any future terrorist threats and attacks, widespread disease or
pandemics (including the COVID-19 pandemic in the United States),
acts of war or other threats thereof, or other adverse external
events that could cause economic deterioration or instability in
credit markets, and the response of the local, state and national
governments to any 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 laws, regulations and governmental policies
concerning the Company’s general business; (v) changes in interest
rates and prepayment rates of the Company’s assets (including the
impact of LIBOR phase-out); (vi) increased competition in the
financial services sector 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 failure to
realize the anticipated benefits of acquisitions and the
possibility that transaction costs may be greater than anticipated;
(ix) the loss of key executives or employees; (x) changes in
consumer spending; (xi) unexpected outcomes of existing or new
litigation involving the Company; (xii) the economic impact of
exceptional weather occurrences such as tornadoes, floods and
blizzards; and (xiii) the ability of the Company to manage the
risks associated with the foregoing. Readers should note that the
forward-looking statements included in this press release are not a
guarantee of future events, and that actual events may differ
materially from those made in or suggested by the forward-looking
statements. Additional information concerning 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 RossiHBTIR@hbtbank.com(310)
622-8221
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