HBT Financial to acquire Tri-County Financial in $204.6M stock/cash deal

HBT Financial, Inc.

Deal valued at ~$204.6M; TYFG shareholders get 2.4589 HBT shares, $71.01 cash, or mix per share; implied $82.89/share.
Combined company: ~$8.3B assets, $6.0B loans, $7.1B deposits; First State Bank adds 19 IL locations.
Expected close Q1 2027; subject to TYFG shareholder vote, regulatory approvals, S-4 effectiveness; ~28% of TYFG shares under voting agreements.
Cash consideration ~$59.9M plus ~3.8M HBT shares; TYFG holders to own ~9% of HBT post-close.
Thomas K. Prescott (TYFG director) to join HBT and Heartland Bank boards; termination fee $7.25M.

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