HBT Financial, Inc. completed its acquisition of CNB Bank Shares, Inc. on 2026-03-01, according to the Form 8-K HBT Financial, Inc. filed with the SEC on 2026-03-02. The filing states a price of $34 million.
| Acquirer | HBT Financial, Inc. |
|---|---|
| Acquired | CNB Bank Shares, Inc. |
| Completed | 2026-03-01 |
| Price stated in the filing | $34 million |
| Reported by | HBT Financial, Inc. (HBT), the buyer |
| Filing | Form 8-K, filed 2026-03-02 |
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What the filing says
On March 1, 2026, HBT Financial, Inc. ("HBT Financial") completed its previously announced acquisition of CNB Bank Shares, Inc., an Illinois corporation ("CNB"), pursuant to an Agreement and Plan of Merger, dated October 20, 2025, between HBT Financial, CNB, and HB-CNB Merger, Inc., a Delaware corporation ("MergerCo") and wholly-owned subsidiary of HBT Financial (the "Merger Agreement").
The price, in the filing's words
The aggregate transaction consideration is approximately $34 million in cash and approximately 5.5 million shares of HBT Financial common stock.
More from the filing
At the effective time of the Merger, MergerCo merged with and into CNB, with CNB surviving as a wholly-owned subsidiary of HBT.
Immediately thereafter, CNB merged (the "Merger") with and into HBT Financial, with HBT Financial surviving the Merger.
In addition, following the Merger, CNB Bank & Trust, N.A. ("CNB Bank"), CNB's wholly-owned bank subsidiary, merged with and into Heartland Bank & Trust ("Heartland Bank"), with Heartland Bank continuing as the surviving bank.
Quoted from HBT Financial, Inc.'s Form 8-K; also reported in Form 8-K/A of 2026-04-29.
This is the only completed acquisition HBT Financial, Inc. reported under Item 2.01 in the last twelve months.
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Get the free SnapshotWhere this comes from
A public company must file a current report on Form 8-K with the SEC within four business days of completing a significant acquisition or disposition of assets, under Item 2.01 of the report. The acquired company sometimes files one too, when the deal makes it a subsidiary of the buyer.
Every fact on this page is taken from one of those filings and linked to it: which company acquired which, the date the filing gives for completion, and the price when the filing states one in dollars, shown next to the sentence that states it. A filing states what was bought and on what terms; it rarely states why, and neither does this page.