HBT Financial CEO Fred Drake to step down May 24; Lance Carter named new CEO

HBT Financial, Inc.

Fred L. Drake transitions from CEO to Executive Chairman effective May 24, 2023; receives $350,000 annual base salary.
J. Lance Carter promoted from President/COO to President and CEO of HBT and Heartland Bank, effective May 24, 2023.
Carter's amended employment agreement provides $535,755 annual base salary; eligible for bonuses and LTI awards.
Carter has 22 years at HBT; Drake will continue as Executive Chairman focusing on strategy and growth.
No related-party transactions or familial relationships beyond Drake and brother Allen C. Drake (director).

item 5.02 item 7.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Role change

Fred L. Drake

Executive Chairman

HBT · HBT Financial, Inc.

Effective: 2023-05-24
Successor: J. Lance Carter
Filed: April 3, 2023, 7:59 PM ET

Fred L. Drake, Chairman and Chief Executive Officer of the Company and Chairman of Heartland Bank and Trust Company (the “Bank”), will step down from the position of Chief Executive Officer of the Company on May 23, 2023 and assume the role of Executive Chairman of the Company and the Bank, effective May 24, 2023.

Role change

J. Lance Carter

President and Chief Executive Officer

HBT · HBT Financial, Inc.

Effective: 2023-05-24
Filed: April 3, 2023, 7:59 PM ET

J. Lance Carter, currently President and Chief Operating Officer of the Company and the Bank, will assume the role of President and Chief Executive Officer of the Company and the Bank, effective May 24, 2023.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Fred L. Drake changed role as Executive Chairman at HBT Financial, Inc..

Action: stepped down
Role: Executive Chairman

Exact text from the filing

Fred L. Drake, Chairman and Chief Executive Officer of the Company and Chairman of Heartland Bank and Trust Company (the “Bank”), will step down from the position of Chief Executive Officer of the Company on May 23, 2023 and assume the role of Executive Chairman of the Company and the Bank, effective May 24, 2023.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

J. Lance Carter was appointed as President and Chief Executive Officer at HBT Financial, Inc..

Action: appointed
Role: President and Chief Executive Officer

Exact text from the filing

J. Lance Carter, currently President and Chief Operating Officer of the Company and the Bank, will assume the role of President and Chief Executive Officer of the Company and the Bank, effective May 24, 2023.

View on SEC.gov

HBT Financial, Inc. filing history →

Source: SEC EDGAR

accession 0001558370-23-005351

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