---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-23-000741"
form_type: "8-K"
ticker: "HBT"
cik: "0000775215"
company_name: "HBT Financial, Inc."
filed_at: "2023-02-01T23:59:59+00:00"
generated_at: "2026-06-20T04:26:13.338088+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# HBT Financial closes merger with Town and Country Financial ($923M assets)

## Summary
- 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.

## SEC filing metadata
- accession: 0001558370-23-000741
- form_type: 8-K
- ticker: HBT
- cik: 0000775215
- company_name: HBT Financial, Inc.
- filed_at: 2023-02-01T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/775215/000155837023000741/0001558370-23-000741-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/775215/000155837023000741/hbt-20230201x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-23-000741
- JSON: https://secwatch.observer/filing/0001558370-23-000741.json
- Plain text: https://secwatch.observer/filing/0001558370-23-000741.txt

## Key facts
- M&A Transactions
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/775215/000155837023000741/0001558370-23-000741-index.htm

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