# HBT Financial, Inc. (HBT) — merger [completed]
Source: SEC API (secapi.ai) · situation sit_c70159aee26a8e3144d9 · retrieved 2026-08-11T16:15:05.819Z

## Overview
HBT Financial, Inc., headquartered in Bloomington, Illinois, is the holding company for Heartland Bank and Trust Company and provides comprehensive financial products and services to consumers, businesses, and municipal entities throughout Illinois and eastern Iowa through 66 full-service branches; as of December 31, 2025, HBT had total assets of $5.1 billion, total loans of $3.5 billion, and tot…

On October 20, 2025, HBT Financial, Inc. and CNB Bank Shares, Inc. signed a definitive merger agreement under which HBT will acquire CNB and its subsidiary CNB Bank & Trust, N.A. The transaction is expected to close in late Q1 2026, subject to customary closing conditions including shareholder and regulatory approvals. CNB shareholders held a special meeting on January 26, 2026 to vote on the merger. The acquisition will enhance HBT's presence in central Illinois, the Chicago MSA, and the St. Louis MSA markets. Integration planning is progressing as planned with anticipated core system conversion expected to be completed in Q1 2026.

## Terms
- Counterparty: CNB Bank Shares, Inc. · Consideration: mixed · Price/share: $1.0434

## Key dates
- Announced 2026-01-06 · Vote 2026-01-26 · Expected close 2026-03-31 · Completed 2026-03-02

## Timeline
- 2026-01-06 · 425 (0000775215-26-000003): 425 - HBT Financial, Inc. — *HBT Financial, Inc. is a state commercial bank holding company incorporated in Delaware.* CNB Bank Shares, Inc. (CNBN) entered into an Agreement and Plan of Merger dated October 20, 2025 with HBT Financial, Inc. (HBT) and HB-CNB Merger, Inc., a wholly-owned subsidiary of HBT. Under the merger agreement, HB-CNB Merger Sub will merge with and into CNBN, with CNBN surviving as a wholly-owned subsidiary of HBT. Immediately thereafter, CNBN will merge with and into HBT, with HBT as the surviving corporation. CNBN shareholders will vote on the merger agreement and related transactions at a special meeting scheduled for January 26, 2026. Outstanding CNBN stock options and stock appreciation rights will be cancelled and converted into cash payments based on the volume-weighted average closing price of HBT common stock over the 10 trading days ending on the fifth trading day prior to closing, multiplied by an exchange ratio of 1.0434 shares of HBT common stock per share of CNBN common stock, less the exercise price.
  https://www.sec.gov/Archives/edgar/data/775215/0000775215-26-000003.txt
- 2026-01-26 · 425 (0000775215-26-000010): 425 - HBT Financial, Inc. — *HBT Financial, Inc., headquartered in Bloomington, Illinois, is the holding company for Heartland Bank and Trust Company and provides comprehensive financial products and services to consumers, businesses, and municipal entities throughout Illinois and eastern Iowa through 66 full-service branches; as of December 31, 2025, HBT had total assets of $5.1 billion, total loans of $3.5 billion, and tot…* On October 20, 2025, HBT Financial, Inc. and CNB Bank Shares, Inc. signed a definitive merger agreement under which HBT will acquire CNB and its subsidiary CNB Bank & Trust, N.A. The transaction is expected to close in late Q1 2026, subject to customary closing conditions including shareholder and regulatory approvals. CNB shareholders held a special meeting on January 26, 2026 to vote on the merger. The acquisition will enhance HBT's presence in central Illinois, the Chicago MSA, and the St. Louis MSA markets. Integration planning is progressing as planned with anticipated core system conversion expected to be completed in Q1 2026.
  https://www.sec.gov/Archives/edgar/data/775215/0000775215-26-000010.txt
- 2026-03-02 · 8-K (0000775215-26-000021): 8-K 8-K
  https://www.sec.gov/Archives/edgar/data/775215/000077521526000021/hbt-20260301.htm
- 2026-04-29 · 8-K/A (0000775215-26-000050): 8-K/A 8-K/A
  https://www.sec.gov/Archives/edgar/data/775215/000077521526000050/hbt-20260301.htm

## Citations
- 0000775215-26-000003 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000077521526000003
- 0000775215-26-000010 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000077521526000010
- 0000775215-26-000021 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000077521526000021
- 0000775215-26-000050 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000077521526000050