HBT Financial, Inc. (HBT): M&A transaction — HBT Financial closes merger with Town and Country Financial ($923M assets)

HBT Financial, Inc.

Aggregate consideration: $38M cash plus 3,378,655 shares of HBT common stock.
Town and Country had $923M in assets, $662M in loans, $762M in deposits as of Dec 31, 2022.
Each Town and Country share converted to 1.901 HBT shares or $35.66 cash or combination.
Merger expands HBT's Illinois footprint into Springfield, St. Louis Metro East, Decatur, Jacksonville, and Quincy.
HBT expects enhanced lending and wealth management capabilities from the acquisition.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

HBT Financial, Inc. completed an acquisition involving Town and Country Financial Corporation for approximately $38,000,000 in cash and approximately 3,378,655 shares of HBT Financial common stock (closed 2023-02-01).

Action: acquisition
Counterparty: Town and Country Financial Corporation
Consideration: approximately $38,000,000 in cash and approximately 3,378,655 shares of HBT Financial common stock
Closing: 2023-02-01

Exact text from the filing

HBT Financial common stock. In lieu of fractional shares, holders of Town and Country common stock will receive cash. The aggregate transaction consideration is approximately $38,000,000 in cash and approximately 3,378,655 shares of HBT Financial common stock. The foregoing description of the Merger and the Merger Agreement does not purport to be complete and is

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HBT Financial, Inc. filing history →

Source: SEC EDGAR

accession 0001558370-23-000741

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