---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-23-005351"
form_type: "8-K"
ticker: "HBT"
cik: "0000775215"
company_name: "HBT Financial, Inc."
filed_at: "2023-04-03T23:59:59+00:00"
generated_at: "2026-06-17T07:25:04.673154+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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).

## SEC filing metadata
- accession: 0001558370-23-005351
- form_type: 8-K
- ticker: HBT
- cik: 0000775215
- company_name: HBT Financial, Inc.
- filed_at: 2023-04-03T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/775215/000155837023005351/0001558370-23-005351-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/775215/000155837023005351/hbt-20230331x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-23-005351
- JSON: https://secwatch.observer/filing/0001558370-23-005351.json
- Plain text: https://secwatch.observer/filing/0001558370-23-005351.txt

## Key facts
- Executive change
  Fred L. Drake changed role as Executive Chairman at HBT Financial, Inc..
  - Action: stepped down
  - Role: Executive Chairman
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/775215/000155837023005351/0001558370-23-005351-index.htm
- Executive change
  J. Lance Carter was appointed as President and Chief Executive Officer at HBT Financial, Inc..
  - Action: appointed
  - Role: President and Chief Executive Officer
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/775215/000155837023005351/0001558370-23-005351-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.