HBT Financial to acquire CNB Bank Shares for ~$170M; Q3 adjusted EPS $0.65 record

HBT Financial, Inc.

Acquiring CNB Bank Shares for ~$170.2M in stock/cash; implied $25.92/share based on HBT's VWAP.
CNBN shareholders elect 1.0434 HBT shares or $27.73 cash per share; expected ~15% combined ownership.
Combined co. to have ~$6.9B assets, 84 branches in IL, IA, MO; expected close Q1 2026.
Q3 2025 adjusted net income $20.5M ($0.65 diluted EPS), up from $19.2M in Q2; ROATCE 15.28%.
Tangible book value per share $16.64, up 3.9% QoQ; NIM stable at 4.13% (tax-equiv 4.18%).

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