J. Lance Carter is the current President and CEO of HBT Financial, Inc., having taken over the role from Fred L. Drake on May 24, 2023. Not much is known about his educational background, but he comes with significant experience in finance, having previously served as the Chief Operating Officer of HBT Financial. This role defined his path to leadership, showcasing his operational skills within the company. In 2023, his total compensation reached approximately $1,005,465, which included a base salary of $514,301 and a cash bonus of $274,958. Carter’s leadership comes at a time when the company is transitioning and adapting to new challenges in the financial sector, and his past roles suggest he is well-equipped to navigate this landscape. Notably, he has vested equity awards coming in the future, hinting at his long-term commitment to the company’s growth. His driving focus is maintaining strong performance metrics and ensuring the company retains a competitive edge in a rapidly evolving market.

Quick Links

J. Lance Carter

CEO of HBT Financial, Inc.

Education

Not specified

Field of Expertise

Finance & Banking - Finance

Sector of Economy

Financial Services

Born

January 1, 1971 - 54 years ago

CEO of HBT Financial, Inc. for

2 years 0 months (May 2023 - Present)

Previous Experience

President and Chief Operating Officer of the Company and the Bank.

Rivals

Competitors/colleagues of J. Lance Carter

Travis Jaggers

CEO of Stellar Bancorp

2023 Compensation

Stock

$71.29K

Salary

$745.00K

Bonus

$92.61K

Other

$28.71K

Total Holdings

$352.34K

Van A. Dukeman

CEO of First Busey Corporation

2023 Compensation

Stock

$0.00

Salary

$725.00K

Bonus

$561.88K

Other

$51.10K

Total Holdings

$9.87M

Diana G. Zuniga

Founder and CEO of International Bancshares

2023 Compensation

Stock

$0.00

Salary

$660.00K

Bonus

$1.50M

Other

$243.03K

Total Holdings

$891.20K

George M. Pereira

CEO of Pacific Premier Bancorp

2022 Compensation

Stock

$2.05M

Salary

$950.00K

Bonus

$522.50K

Other

$0.00

Total Holdings

$185.07K

Holdings

See how much did J. Lance Carter make over time.

As of March 24, 2023, J. Lance Carter holds 103,769 shares in HBT Financial. This amounts to just about 0.3% ownership of the company’s total shares. His stake represents a solid commitment, particularly as he steps into a leadership role that demands confidence from stakeholders. Over the past years, his shareholding has shown some fluctuations; he had more shares in prior years. However, the current share value reflects his continued investment in HBT’s future. The company's overall direction will likely influence the value of his holdings, making it essential for him to lead effectively in the upcoming challenges ahead. His engagement directly aligns with the company's performance which not only impacts his wealth but also shapes the entire team’s morale.

Insider Trading

See recent insider trades of J. Lance Carter.

HBT

14,255 shares

HBT

Feb 29, 2024

Received

HBT

4,121 shares

HBT

Feb 28, 2023

Received

HBT

4,844 shares

HBT

Feb 25, 2022

Received

HBT

5,865 shares

HBT

Feb 19, 2021

Received

HBT

$122.65K

HBT at $12.27/share

Mar 12, 2020

Purchase

HBT

10,000 shares

HBT

Jan 28, 2020

Received

HBT

$320.00K

HBT at $16.00/share

Jul 27, 2019

Purchase

HBT

$157.59K

HBT at $25.75/share

Jul 27, 2019

Sale

Compensation History

See how much did J. Lance Carter make over time.

In 2023, J. Lance Carter’s total compensation was approximately $1,005,465. This package included a salary of $514,301, a cash bonus of $274,958 paid for short-term performance incentives, and an additional compensation of $38,948 from other benefits. However, he did not receive any vested stock in 2023, as most of his equity grants are yet to vest according to their schedule. His compensation structure is designed to align closely with the company's performance, which suggests that his earnings are tied to achieving specific financial goals. This aligns with HBT Financial’s philosophy to attract and retain top talent while ensuring that executives are rewarded for driving shareholder value. The strategy focuses on mix of immediate compensation along with long-term equity grants, balancing short-term incentives with company performance over time.

Year

2023

Total Compensation

$828.21K

Salary

$514.30K

Board Justification

The compensation philosophy aligns with company performance, peer benchmarking, and retention strategies, aiming to attract and retain top executive talent while rewarding performance that drives shareholder value.

Bonus

$274.96K

Board Justification

Amounts for 2023 represent cash bonuses paid in March 2024 as short-term incentive awards for the 2023 performance period, which were determined after the Compensation Committee reviewed final financial results for 2023.

Other

$38.95K

Board Justification

Other compensation includes installment payments for exercise of stock appreciation rights, term life insurance premiums, group term life insurance premiums, and 401(k) match.

Restricted Stock

$0.00(0 RSUs and PRSUs)

Board Justification

No stock was vested in 2023 as the RSUs and PRSUs vest in future years according to the established vesting schedule.

Performance Metrics

The performance metrics include adjusted pre-provision net revenue less net charge-offs, adjusted return on average assets, adjusted efficiency ratio, nonperforming assets to total assets, and performance relative to a peer group.

Other HBT Financial, Inc. CEOs

Here are other CEOs of HBT Financial, Inc.

Fred L. Drake

Ex-CEO of HBT Financial, Inc.

October 2019 - May 2023