HBT Financial to acquire Tri-County Financial Group
Tri-County Financial Group will merge into HBT Financial in a common stock-cash deal valued at about $204.6 million.
Tri-County holders can elect 2.4589 HBT shares, $71.01 cash, or a mix, subject to proration; the implied value is $82.89 per share.
The combined bank is projected to have about $8.3 billion in assets, $6 billion in loans and $7.1 billion in deposits, spanning Illinois, eastern Iowa and suburban St. Louis.
First State Bank had $1.6 billion in assets, $1.3 billion in loans and $1.3 billion in deposits as of June 30, 2026.
Closing is targeted for the first quarter of 2027; Tri-County shareholders are expected to own about 9% of HBT.
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