MergerAug 10, 2026, 08:42 AM
HBT Financial to Acquire Tri-County Financial for $204.6M
AI Summary
HBT Financial, Inc. announced a definitive agreement to acquire Tri-County Financial Group, Inc. in a combined common stock and cash transaction valued at approximately $204.6 million. The merger will create a combined entity with approximately $8.3 billion in assets, strengthening HBT's footprint in central Illinois and the Chicago MSA. The transaction is expected to be accretive to HBT's earnings per share and will result in minimal tangible book value dilution.
Key Highlights
- HBT Financial to acquire Tri-County Financial Group for approximately $204.6 million.
- Tri-County shareholders can elect 2.4589 shares of HBT common stock or $71.01 cash per share, or a combination.
- Aggregate consideration includes approximately $59.9 million in cash and 3.8 million shares of HBT common stock.
- The combined company will have approximately $8.3 billion in total assets, $6.0 billion in loans, and $7.1 billion in deposits.
- The transaction is expected to be 11.1% accretive to EPS in the first full year with cost savings.
- TBV dilution of 2.4% at closing with an earnback period of less than 1 year using the crossover method.
- Tri-County Chairman Thomas K. Prescott will join the Boards of Directors of HBT Financial and Heartland Bank.
- The merger is expected to close in Q1 2027, subject to regulatory and Tri-County shareholder approvals.
Price Impact
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