Overview
- TickerHBT on Nasdaq2
- IndustryState Commercial Banks2
- HeadquartersBloomington, United States2
- Incorporated inDE3
- Business address401 N. Hershey Road, Bloomington, Il 617023
- Filer categoryAccelerated filer3
- Legal formCorporation2
- LEI549300NTXD4Q6UK5BY662
- StatusActive2
- LEI statusIssued and current2
- Registered addressC/O THE PRENTICE-HALL CORPORATION SYSTEM, INC., 19808 Wilmington, United States2
- Registered withDivision of Corporations, Department of State, 9400692
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The roots of our Company can be traced back to 1920 when M.B. Drake, the grandfather of our Executive Chairman, Fred Drake, helped found a community bank in Cornland, Illinois. The Drake family went on to operate several banks throughout central Illinois, and in 1982, George Drake (M.B.'s son and Fred's father) incorporated the Company as one of the first multi-bank holding companies in Illinois. Since that time, we have grown both organically and through the successful integration of more than a dozen community bank acquisitions.5 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Financial statements
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Interest | $9.9M6 | $6.5M7 | $5.8M8 | $7.2M8 | $37.9M8 | |||
| Income before tax | $76.6M8 | $76.2M9 | $88.6M10 | $97.4M10 | $104.5M10 | |||
| Income tax | $5.3M6 | $12.7M7 | $20.3M8 | $19.7M9 | $22.7M10 | $25.6M10 | $27.5M10 | |
| Net income | $66.9M6 | $36.8M7 | $56.3M8 | $56.5M9 | $65.8M10 | $71.8M10 | $77.0M10 | |
| Earnings per share | $3.336 | $1.347 | $2.028 | $1.959 | $2.0810 | $2.2710 | $2.4410 | |
| Earnings per share (diluted) | $3.336 | $1.347 | $2.028 | $1.959 | $2.0710 | $2.2610 | $2.4410 | |
| Shares (weighted, basic) | 27.8M shares8 | 28.9M shares9 | 31.6M shares10 | 31.6M shares10 | 31.5M shares10 | |||
| Shares (weighted, diluted) | 27.8M shares8 | 28.9M shares9 | 31.7M shares10 | 31.7M shares10 | 31.6M shares10 |
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Cash | $284.0M13 | $312.5M6 | $409.3M7 | $114.2M8 | $141.3M9 | $137.7M10 | $122.3M10 | |
| Property, plant and equipment | $52.5M7 | $50.5M8 | $65.2M9 | $66.8M10 | $73.6M10 | |||
| Goodwill | $29.3M7 | $29.3M8 | $59.8M9 | $59.8M10 | $59.8M10 | |||
| Intangible assets | $1.9M7 | $1.1M8 | $20.7M9 | $17.8M10 | $15.1M10 | |||
| Total assets | $3.2B13 | $3.7B6 | $4.3B7 | $4.3B8 | $5.1B9 | $5.0B10 | $5.1B10 | |
| Total liabilities | $2.9B13 | $3.3B6 | $3.9B7 | $3.9B8 | $4.6B9 | $4.5B10 | $4.5B10 | |
| Retained earnings | $194.1M7 | $232.0M8 | $269.1M9 | $316.8M10 | $367.2M10 | |||
| Shareholders’ equity | $332.9M7 | $363.9M8 | $411.9M9 | $373.6M10 | $489.5M10 | $544.6M10 | $615.5M10 | |
| Shares outstanding | 27.5M shares13 | 27.5M shares6 | 29.0M shares7 | 28.8M shares8 | 31.7M shares9 | 31.6M shares10 | 31.4M shares10 | 31.4M shares10 |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | $89.1M6 | $31.3M7 | $43.0M8 | $72.6M9 | $65.8M10 | $89.4M10 | $85.1M10 | |
| Depreciation and amortization | $3.1M8 | $3.0M9 | $3.1M10 | $2.9M10 | $3.2M10 | |||
| Stock-based compensation | $764.0K8 | $1.9M9 | $2.0M10 | $1.8M10 | $1.9M10 | |||
| Cash from investing | -$349.6M8 | -$335.1M9 | $132.7M10 | $32.3M10 | -$39.6M10 | |||
| Dividends paid | $225.0M6 | $16.5M7 | $16.8M8 | $18.6M9 | $21.9M10 | $24.2M10 | $26.6M10 | |
| Share buybacks | $4.9M8 | $4.8M9 | $8.9M10 | $4.4M10 | $4.5M10 | |||
| Cash from financing | $403.4M8 | -$32.6M9 | -$171.4M10 | -$125.3M10 | -$60.9M10 | |||
| Dividend per share | $12.486 | $0.607 | $0.608 | $0.649 | $0.6810 | $0.7610 | $0.8410 |
Corporate structure
HBT Financial, Inc. sits at the top of its group. 5 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of HBT Financial, Inc.
- Fred L. Drake Filed SCHEDULE 13G/A on HBT Financial, Inc., latest Jul 30, 2025 (4 filings since Feb 10, 2022)
- BlackRock Filed SCHEDULE 13G/A on HBT Financial, Inc., latest Apr 29, 2025 (2 filings since Jan 29, 2024)
- HBT Financial, Inc. Bloomington, Illinois, United States
- Heartland Bank and Trust Company Subsidiary · Bloomington, Illinois, United States
- Town & Country Banc Mortgage Services, Inc. Subsidiary · Springfield, Illinois, United States
- Heartland Investments, LLC Subsidiary · Illinois, United States
- Heartland Real Estate Holdings, LLC Subsidiary · Illinois, United States
- Heartland Bank and Trust Company Subsidiary · Bloomington, Illinois, United States
Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What HBT Financial, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Property and equipment, before depreciation | $125.7M10 Dec 31, 2025 | $124.7M10 Dec 31, 2024 | +0.8% |
| Accumulated depreciation | $52.1M10 Dec 31, 2025 | $57.9M10 Dec 31, 2024 | −10.1% |
| Property and equipment, net | $73.6M10 Dec 31, 2025 | $66.8M10 Dec 31, 2024 | +10.3% |
Investments
| Item | Latest | A year before | Change |
|---|---|---|---|
| Cash and cash equivalents | $122.3M10 Dec 31, 2025 | $137.7M10 Dec 31, 2024 | −11.2% |
| Loans, net of allowance | $3.4B10 Dec 31, 2025 | $3.4B10 Dec 31, 2024 | −0.3% |
| Deposits held (banks) | $4.4B10 Dec 31, 2025 | $4.3B10 Dec 31, 2024 | +0.9% |
Intangibles and goodwill
| Item | Latest | A year before | Change |
|---|---|---|---|
| Goodwill | $59.8M10 Dec 31, 2025 | $59.8M10 Dec 31, 2024 | 0% |
| Finite-lived intangibles, net | $15.1M10 Dec 31, 2025 | $17.8M10 Dec 31, 2024 | −15.3% |
Properties, in its own words
HBT Financial and Heartland Bank’s headquarters are located at 401 North Hershey Road, Bloomington, Illinois. The Company owns these headquarters, and it also owns or leases other facilities, such as banking centers of Heartland Bank, for business operations. The Company considers its properties to be suitable and adequate for its present needs.
Item 2 of the 10-K filed Mar 6, 2026.5
Leadership
Who has led HBT Financial, Inc., and when. Pick a name to see everywhere that person has worked.
Chief executive
Chief financial officer
- Chief executive officerFred L. Drake Oct 10, 2019 to Mar 2, 202314
- ChairFred L. Drake Mar 12, 2020 to now15
- Chief financial officerPeter Robert Chapman Mar 4, 2024 to now16
- Chief financial officerMatthew J. Doherty Oct 10, 2019 to Mar 1, 202217
Board members and other officers (19)
- EXECUTIVE VICE PRESIDENTPeter Robert Chapman Oct 4, 2022 to Oct 4, 202218
- SVP & Chief Risk OfficerAndrea E. Zurkamer Oct 10, 2019 to now19
- EVP and Chief Retail OfficerDiane H. Lanier Oct 10, 2019 to now20
- OfficerLarry J. Kallembach Oct 10, 2019 to Jan 30, 202021
- OfficerLawrence J. Horvath Oct 10, 2019 to now22
- SVP & Chief Credit OfficerMark W. Scheirer Oct 10, 2019 to now23
- EVP & Chief Lending OfficerPatrick F. Busch Oct 10, 2019 to Mar 1, 202224
- Board memberJames T. Ashworth Mar 2, 2026 to now25
- Board memberNancy L. Ruyle Mar 2, 2026 to now26
- Board memberMichael Morton Apr 1, 2026 to now27
- Board memberRoger A. Baker Mar 2, 2022 to now28
- Board memberLinda J. Koch Jun 25, 2020 to now29
- Board memberAllen C. Drake Oct 10, 2019 to now30
- Board memberC. Alvin Bowman Oct 10, 2019 to now31
- Board memberDale S. Strassheim Oct 10, 2019 to Feb 23, 202132
- Board memberEric E. Burwell Oct 10, 2019 to now33
- Board memberFred L. Drake Oct 10, 2019 to Mar 16, 202014
- Board memberGerald E. Pfeiffer Oct 10, 2019 to now34
- Board memberPatrick F. Busch Oct 10, 2019 to now24
Named in SEC Form D filings
People the company listed in its private-offering notices.
- President and CEOJ LANCE CARTER named Apr 9, 202635
Subsidiaries and ownership
Subsidiaries (Exhibit 21)
- Heartland Bank and Trust Company Illinois4
- Heartland Investments, LLC Illinois4
- Heartland Real Estate Holdings, LLC Illinois4
The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.
Former names
- HEARTLAND BANCORP, INC.Jul 2, 2019 to Aug 15, 20193
Timeline
- Aug 10, 20268-K Entered a material agreement; Regulation FD disclosure36
- Jul 27, 20268-K Results of operations; Regulation FD disclosure; Other events37
- May 21, 20268-K Shareholder vote38
- Apr 29, 20268-K Completed an acquisition or sale39
- Apr 29, 20268-K Other events40
- Apr 27, 20268-K Results of operations; Regulation FD disclosure41
- Mar 25, 20268-K Executive or director change; Regulation FD disclosure42
- Mar 11, 20268-K Entered a material agreement; New debt or obligation; Regulation FD disclosure43
- Mar 2, 20268-K Completed an acquisition or sale; Executive or director change; Regulation FD disclosure44
- Feb 2, 20268-K Other events45
- Jan 28, 20268-K Other events46
- Jan 26, 20268-K Results of operations; Regulation FD disclosure47
- Oct 10, 2019New chief executive Fred L. Drake becomes CEO14
- Jun 28, 1982Founded HBT Financial, Inc. is founded2
Calendar
Coming up
- Oct 26, 2026 · Before the openReports results for the quarter ending Sep/2026 A year earlier it reported $0.65 a share, on Oct 20, 2025.48
When it reported results
- Jul 27, 2026Reported quarterly or annual results37
- Apr 27, 2026Reported quarterly or annual results41
- Jan 26, 2026Reported quarterly or annual results47
- Oct 20, 2025Reported quarterly or annual results49
- Jul 21, 2025Reported quarterly or annual results50
- Apr 21, 2025Reported quarterly or annual results51
- Jan 22, 2025Reported quarterly or annual results52
- Oct 21, 2024Reported quarterly or annual results53
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
276 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 60 major events, 130 insider forms, 6 large holders, 1 private raises, 59 other. The latest 20:
- Sep 18, 2026424B3 EDGAR
- Sep 16, 2026EFFECT EDGAR
- Sep 14, 2026S-4/A EDGAR
- Aug 31, 2026S-4 EDGAR
- Aug 19, 20264 EDGAR
- Aug 10, 20268-K EDGAR
- Aug 7, 202610-Q EDGAR
- Aug 6, 2026EFFECT EDGAR
- Aug 6, 2026424B3 EDGAR
- Aug 4, 2026S-4/A EDGAR
- Jul 27, 20268-K EDGAR
- Jun 12, 2026S-4/A EDGAR
- Jun 1, 20263 EDGAR
- May 27, 2026S-4 EDGAR
- May 21, 20268-K EDGAR
- May 18, 2026EFFECT EDGAR
- May 14, 2026CORRESP EDGAR
- May 13, 2026S-3/A EDGAR
- May 6, 202610-Q EDGAR
- May 1, 20264 EDGAR
The 276 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
42 open-market trades by officers, directors and large owners since October 2021: 19 buys and 23 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Apr 28, 2026 | HEARTLAND BANCORP, INC. VOTING TRUST U/A/D 5/4/201610% owner | Sale | 15,742 | $28.93 | $455.4K | Form 4 |
| Mar 16, 2026 | HORVATH LAWRENCE JEVP & Chief Lending Officer | Sale | 5,000 | $26.60 | $133.0K | Form 4 |
| Mar 16, 2026 | BUSCH PATRICK FDirector | Sale | 15,000 | $26.48 | $397.2K | Form 4 |
| Mar 10, 2026 | BURWELL ERIC EDirector | Buy | 4,000 | $26.24 | $105.0K | Form 4 |
| Feb 20, 2026 | DRAKE FRED LExecutive Chairman | Sale | 2,258 | $28.60 | $64.6K | Form 4 |
| Feb 18, 2026 | DRAKE FRED LExecutive Chairman | Sale | 2,000 | $28.74 | $57.5K | Form 4 |
| Feb 14, 2025 | DRAKE FRED LExecutive Chairman | Sale | 2,825 | $25.22 | $71.2K | Form 4 |
| Feb 13, 2025 | DRAKE FRED LExecutive Chairman | Sale | 10,000 | $25.15 | $251.5K | Form 4 |
| Feb 11, 2025 | HEARTLAND BANCORP, INC. VOTING TRUST U/A/D 5/4/201610% owner | Sale | 5,000 | $25.02 | $125.1K | Form 4 |
| Feb 6, 2025 | DRAKE FRED LExecutive Chairman | Sale | 5,845 | $25.77 | $150.6K | Form 4 |
| Feb 5, 2025 | BUSCH PATRICK FDirector | Sale | 8,000 | $24.77 | $198.2K | Form 4 |
| Feb 4, 2025 | HEARTLAND BANCORP, INC. VOTING TRUST U/A/D 5/4/201610% owner | Sale | 9,945 | $24.59 | $244.5K | Form 4 |
| Jan 31, 2025 | HEARTLAND BANCORP, INC. VOTING TRUST U/A/D 5/4/201610% owner | Sale | 5,055 | $24.81 | $125.4K | Form 4 |
| Jan 29, 2025 | HEARTLAND BANCORP, INC. VOTING TRUST U/A/D 5/4/201610% owner | Sale | 10,000 | $24.38 | $243.8K | Form 4 |
| Dec 12, 2024 | DRAKE FRED LExecutive Chairman | Sale | 2,500 | $24.11 | $60.3K | Form 4 |
| Dec 11, 2024 | DRAKE FRED LExecutive Chairman | Sale | 2,500 | $24.11 | $60.3K | Form 4 |
| Nov 25, 2024 | DRAKE FRED LExecutive Chairman | Sale | 5,000 | $24.89 | $124.5K | Form 4 |
| Nov 22, 2024 | DRAKE FRED LExecutive Chairman | Sale | 8,002 | $24.19 | $193.6K | Form 4 |
| Nov 21, 2024 | HEARTLAND BANCORP, INC. VOTING TRUST U/A/D 5/4/201610% owner | Sale | 4,798 | $23.92 | $114.8K | Form 4 |
| Nov 19, 2024 | HEARTLAND BANCORP, INC. VOTING TRUST U/A/D 5/4/201610% owner | Sale | 2,200 | $23.86 | $52.5K | Form 4 |
All 42 trades can be filtered by person here when JavaScript is on.
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- Fred L. DrakeSCHEDULE 13G/A, 4 filings Feb 10, 2022 to Jul 30, 202554
- BlackRockSCHEDULE 13G/A, 2 filings Jan 29, 2024 to Apr 29, 202555
Executive pay
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
| Year | Executive | Age | Salary | Total pay |
|---|---|---|---|---|
| 2025 | J. Lance Carter | 55 | $570.7K | $1.3M56 |
| 2025 | Peter R. Chapman | 52 | $346.9K | $703.7K56 |
| 2025 | Fred L. Drake | 69 | $350.0K | $701.0K56 |
| 2025 | Lawrence J. Horvath | 62 | $342.2K | $613.5K56 |
| 2025 | Mark W. Scheirer | 55 | $277.2K | $502.8K56 |
| 2024 | PresidentChief Executive Officer and Director | $553.1K | $1.2M56 | |
| 2024 | Executive Chairman | $350.0K | $738.3K56 | |
| 2024 | Executive VicePresident and Chief Financial Officer | $332.9K | $672.8K56 | |
| 2023 | PresidentChief Executive Officer and Director | $514.3K | $1.0M56 | |
| 2023 | Executive Chairman | $450.0K | $924.8K56 | |
| 2023 | Executive VicePresident and Chief Financial Officer | $320.0K | $595.7K56 |
Money raised
Private offerings the company reported to the SEC on Form D.
- Mar 11, 2026Raised $85 million in a private offering of debt Form D: 43 investors so far Form D
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
13F reports cover disclosed long positions in U.S. stocks only.
SEC filer profile
How HBT Financial, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARHBT Financial, Inc.1
- CIK0000775215
- Employer ID (EIN)37-11172165
- Filer statusAccelerated filer not an emerging growth company; not a smaller reporting company; not a shell company5
- Incorporated inDelaware5
- Fiscal year endsDecember 311
- Industry code (SIC)6022 State Commercial Banks1
- SEC reviewing officeOffice of Finance, Division of Corporation Finance1
- Business address401 N. Hershey Road, Bloomington, IL 617021
- Phone(309) 662-44441
- Shares outstanding36,365,612 as of Jul 31, 202612
- Public float$318.3M as of Jun 30, 20255
- AuditorRSM US LLP, Chicago, Illinois PCAOB ID 49; it also attests to the company’s internal control over financial reporting5
- On EDGAR sinceJul 2, 20191
- Filings432 in all: 4 (197), 8-K (80), 10-Q (21), 3 (21), 425 (12), 144 (9), CORRESP (9), DEFA14A (8)1
All 34 form types
EFFECT (8), 10-K (7), DEF 14A (7), UPLOAD (7), S-4/A (6), 424B3 (5), S-4 (5), 4/A (3), 8-K/A (3), SC 13G/A (3), 5 (2), D (2), S-3 (2), SC 13G (2), SCHEDULE 13G/A (2), 3/A (1), 424B4 (1), 8-A12B (1), CERT (1), DRS (1), DRS/A (1), DRSLTR (1), S-1 (1), S-1/A (1), S-3/A (1), S-8 (1)
- Latest filingsAnnual report (10-K) Mar 6, 2026
Quarterly report (10-Q) Aug 7, 2026
Proxy statement (DEF 14A) Apr 8, 2026
Latest 8-K (8-K) Aug 10, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Common Stock, par value $0.01 per share | HBT | The Nasdaq Stock Market LLC |
From the cover page of the 10-K filed Mar 6, 2026 (Section 12(b) of the Exchange Act).5
Risk factors and legal proceedings
The risks HBT Financial, Inc. names in Item 1A of its 10-K filed Mar 6, 2026: 46 risks under these headings, as written.5
- CREDIT RISKS
- We may not be able to adequately measure and limit our credit risk, which could lead to unexpected losses.
- The small to mid-sized businesses to which we lend may have fewer resources to weather adverse business developments, which may impair a borrower’s ability to repay a loan, and such impairment could adversely affect our results of operations and financial condition.
- We depend on the accuracy and completeness of information about customers and counterparties.
- The appraisals and other valuation techniques we use in evaluating and monitoring loans secured by real property, foreclosed real estate and other repossessed assets may not accurately describe the fair value of the asset.
- We are subject to environmental liability risk associated with lending activities.
- The majority of our loan portfolio consists of commercial and commercial real estate loans, which may have a higher degree of risk than some other types of loans.
- Real estate construction loans are based upon estimates of costs and values associated with the complete project. These estimates may be inaccurate, and we may be exposed to significant losses on loans for these projects.
- We provide loans and services to the agriculture industry and the health of this industry is impacted by factors outside our control and the control of our customers.
- INTEREST RATE RISKS
- Fluctuations in interest rates may reduce net interest income and otherwise negatively impact our financial condition and results of operations.
- The value of the financial instruments we own may decline in the future.
The other 36 risks
- Monetary policies and regulations of the Federal Reserve could adversely affect our business, financial condition and results of operations.
- LIQUIDITY RISKS
- Liquidity risks could affect operations and jeopardize our business, financial condition and results of operations.
- We may need to raise additional capital in the future, and such capital may not be available when needed or at all.
- We may be adversely affected by changes in the actual or perceived soundness or condition of other financial institutions.
- Loss of customer deposits could increase our funding costs.
- TECHNOLOGY AND CYBERSECURITY RISKS
- The occurrence of fraudulent activity, breaches or failures of our information security controls or cybersecurity-related incidents could have a material adverse effect on our business, financial condition or results of operations.
- We depend on information technology and telecommunications systems of third parties, and any systems failures, interruptions or data breaches involving these systems could adversely affect our operations and financial condition.
- Our use of third-party vendors and our other ongoing third-party business relationships is subject to increasing regulatory requirements and attention.
- We continually encounter technological change and may have fewer resources than many of our larger competitors to continue to invest in technological improvements.
- LEGAL AND REGULATORY COMPLIANCE RISKS
- The banking industry is highly regulated, and the regulatory framework, together with any future legislative or regulatory changes, may have a significant adverse effect on our business, financial condition, results of operations and future prospects.
- Legal, regulatory and policy changes may directly affect financial institutions and the global economy.
- Federal and state regulators periodically examine our business, and we may be required to remediate adverse examination findings.
- We are subject to capital adequacy requirements and may be subject to more stringent capital requirements and, if we fail to meet these requirements, we will be subject to restrictions on our ability to make capital distributions and other restrictions.
- The Federal Reserve may require us to commit capital resources to support the Bank.
- Our risk management framework may not be effective in mitigating risks and/or losses to us.
- Future consumer legislation or regulation could harm our performance and competitive position.
- We are subject to numerous laws and regulations designed to protect consumers, including the Community Reinvestment Act and fair lending laws, and failure to comply with these laws could lead to a wide variety of sanctions.
- The expanding body of federal, state and local regulations and/or the licensing of loan servicing, collections or other aspects of our business and our sales of loans to third parties may increase the cost of compliance and the risks of noncompliance and subject us to litigation.
- Laws impacting cannabis-related businesses may have an impact on the Company’s operations and risk profile.
- Non-compliance with the USA PATRIOT Act, the Bank Secrecy Act, or other laws and regulations could result in fines or sanctions.
- Regulation in the areas of privacy and data security could increase our costs.
- Litigation and regulatory actions, including possible enforcement actions, could subject us to significant fines, penalties, judgments or other requirements resulting in increased expenses or restrictions on our business activities.
- The preparation of our consolidated financial statements requires us to make estimates and judgments, which are subject to an inherent degree of uncertainty and which may differ from actual results.
- RISKS RELATED TO OUR BUSINESS STRATEGY
- We may not be able to continue growing our business, particularly if we cannot make acquisitions or increase loans through organic loan growth, either because of an inability to find suitable acquisition candidates, constrained capital resources or otherwise.
- Our strategy of pursuing growth via acquisitions exposes us to financial, execution and operational risks that could have a material adverse effect on our business, financial position, results of operations and growth prospects.
- RISKS RELATED TO OWNERSHIP OF OUR COMMON STOCK
- Our principal stockholder, Heartland Bancorp, Inc. Voting Trust U/A/D 5/4/2016, has significant influence over us, and its interests could conflict with those of our other stockholders.
- Our ability to continue to pay dividends to our stockholders is restricted by applicable laws and regulations and by the ability of our subsidiaries to pay dividends to us.
- Future sales of our common stock, or the perception in the public markets that these sales may occur, may depress our stock price.
- Anti-takeover provisions in our charter documents and Delaware law, and the banking laws and regulations to which we are subject, might discourage or delay acquisition attempts for us that you might consider favorable.
- Our restated certificate of incorporation designates the Court of Chancery of the State of Delaware as the sole and exclusive forum for certain types of actions and proceedings that may be initiated by our stockholders, which could limit our stockholders' ability to obtain a favorable judicial forum for disputes with us or our directors, officers or employees.
- EXTERNAL RISKS
- Adverse changes in local economic conditions and adverse conditions in an industry on which a local market in which we do business depends could hurt our business in a material way.
- Elevated levels of inflation could adversely impact our business and results of operations.
- Failure to attract and retain qualified employees could negatively impact our business, results of operations and financial condition.
- Climate change could have a material negative impact on the Company and our customers.
- Our future growth and success will depend on our ability to compete effectively in a highly competitive environment.
- Our ability to maintain our reputation is critical to the success of our business, and the failure to do so may materially adversely affect our business and the value of our stock.
Legal proceedings
We are sometimes party to legal actions that are routine and incidental to our business. Management, in consultation with legal counsel, does not expect the ultimate disposition of any or a combination of these matters to have a material adverse effect on our assets, business, cash flow, condition (financial or otherwise), liquidity, prospects and results of operations. However, given the nature, scope and complexity of the extensive legal and regulatory landscape applicable to our business, including laws and regulations governing consumer protection, fair lending, fair labor, privacy, information security and anti-money laundering and anti-terrorism laws, we, like all banking organizations, are subject to heightened legal and regulatory compliance and litigation risk.
The opening of Item 3, Legal Proceedings.5
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10
- 11
- 12
- 13
- 14
- 15SEC EDGARFred L. Drake, Chair
- 16
- 17
- 18
- 19
- 20
- 21SEC EDGARLarry J. Kallembach, Officer
- 22SEC EDGARLawrence J. Horvath, Officer
- 23
- 24
- 25SEC EDGARJames T. Ashworth, Board member
- 26SEC EDGARNancy L. Ruyle, Board member
- 27SEC EDGARMichael Morton, Board member
- 28SEC EDGARRoger A. Baker, Board member
- 29SEC EDGARLinda J. Koch, Board member
- 30SEC EDGARAllen C. Drake, Board member
- 31SEC EDGARC. Alvin Bowman, Board member
- 32SEC EDGARDale S. Strassheim, Board member
- 33SEC EDGAREric E. Burwell, Board member
- 34SEC EDGARGerald E. Pfeiffer, Board member
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- 38SEC EDGARShareholder vote
- 39SEC EDGARCompleted an acquisition or sale
- 40SEC EDGAROther events
- 41
- 42
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- 44
- 45SEC EDGAROther events
- 46SEC EDGAROther events
- 47
- 48NasdaqNasdaq calendar
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