# HBT Financial, Inc. (HBT) — merger/definitive [pending]
Source: SEC API (secapi.ai) · situation sit_566f0dbb3f51709d97bf · retrieved 2026-08-14T01:26:57.778Z

## Overview
HBT Financial, Inc. is a Delaware bank holding company registered with the Federal Reserve that owns and operates Heartland Bank and Trust Company, an Illinois state-chartered bank.

HBT Financial, Inc. agreed to acquire Tri-County Financial Group, Inc. (TYFG) in an all-stock and cash transaction announced on August 10, 2026. Under the merger agreement, TYFG shareholders will receive either 2.4589 shares of HBT common stock, $71.01 in cash per share, or a combination thereof. In aggregate, TYFG shareholders are expected to receive approximately $59.9 million in cash consideration and approximately 3.8 million shares of HBT common stock. The transaction is structured as a two-step merger, with TYFG first merging into HBT's subsidiary MergerCo, then the surviving entity merging into HBT. Following the mergers, First State Bank (a TYFG subsidiary) will merge into Heartland Bank and Trust Company (an HBT subsidiary). The transaction is subject to customary closing conditions including TYFG stockholder approval, regulatory approvals, and effectiveness of an S-4 registration statement.

## Terms
- Counterparty: Tri-County Financial Group, Inc. · Deal value: $59.9M · Consideration: mixed · Price/share: $71.01

## Key dates
- Announced 2026-08-10

## Timeline
- 2026-08-10 · 8-K (0000775215-26-000076): 8-K - HBT Financial, Inc. — *HBT Financial, Inc. is a Delaware bank holding company registered with the Federal Reserve that owns and operates Heartland Bank and Trust Company, an Illinois state-chartered bank.* HBT Financial, Inc. agreed to acquire Tri-County Financial Group, Inc. (TYFG) in an all-stock and cash transaction announced on August 10, 2026. Under the merger agreement, TYFG shareholders will receive either 2.4589 shares of HBT common stock, $71.01 in cash per share, or a combination thereof. In aggregate, TYFG shareholders are expected to receive approximately $59.9 million in cash consideration and approximately 3.8 million shares of HBT common stock. The transaction is structured as a two-step merger, with TYFG first merging into HBT's subsidiary MergerCo, then the surviving entity merging into HBT. Following the mergers, First State Bank (a TYFG subsidiary) will merge into Heartland Bank and Trust Company (an HBT subsidiary). The transaction is subject to customary closing conditions including TYFG stockholder approval, regulatory approvals, and effectiveness of an S-4 registration statement.
  https://www.sec.gov/Archives/edgar/data/775215/0000775215-26-000076.txt

## Citations
- 0000775215-26-000076 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000077521526000076