AcquisitionsMay 6, 2026, 04:24 PM

HBT Financial Completes CNB Acquisition; Q1 Net Income $11.2M

AI Summary

HBT Financial, Inc. completed its acquisition of CNB Bank Shares, Inc. on March 1, 2026, significantly expanding its market footprint. This strategic move, valued at approximately $182.1 million, included both common stock and cash consideration, resulting in $23.7 million in goodwill. While actual Q1 2026 net income decreased to $11.2 million ($0.34 EPS) due to $15.7 million in acquisition-related expenses, pro forma results, assuming the acquisition occurred on January 1, 2025, show a net income of $22.2 million ($0.60 EPS), indicating expected accretion. The acquisition also contributed to a substantial increase in total assets to $6.77 billion.

Key Highlights

HBT Financial completed the acquisition of CNB Bank Shares, Inc. on March 1, 2026, for approximately $182.1 million.
The acquisition consideration included 5.5 million shares of HBT Financial common stock and $33.8 million in cash.
Goodwill of $23.7 million was recorded as part of the CNB acquisition.
Net income for Q1 2026 was $11.2 million, down from $19.1 million in Q1 2025.
Basic earnings per share for Q1 2026 was $0.34, compared to $0.60 in Q1 2025.
Pro forma net income for Q1 2026, assuming the acquisition occurred Jan 1, 2025, was $22.2 million, up from $11.8 million pro forma in Q1 2025.
Total assets increased to $6.77 billion at March 31, 2026, from $5.07 billion at December 31, 2025.
Acquisition-related expenses totaled $15.7 million for the three months ended March 31, 2026.
Cash dividends of $0.23 per share were paid in Q1 2026, up from $0.21 in Q1 2025.

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HBT

Major Banks

HBT Financial, Inc.

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