HBT Financial, Inc. to Acquire Tri-County Financial Group, Inc. for $204.6M

The transaction was announced on August 10, 2026, as disclosed in a Form 8-K filing submitted to the SEC and available through SEC EDGAR. The deal has been announced but the current status does not indicate whether it has closed or remains subject to regulatory approval and customary closing conditions. No expected closing date has been disclosed in the available source materials.

HBT Financial engaged Piper Sandler & Co. as its lead financial advisor on the transaction. On the target side, Tri-County Financial Group retained Performance Trust Capital Partners, LLC as its lead financial advisor. Both advisors served in the capacity of lead financial advisor to their respective clients, with no co-advisors or co-managers identified in the available disclosure. The roles and responsibilities of each advisor beyond the lead advisory designation have not been specified in the source materials.

No legal advisors or counsel to either party have been identified in the available disclosure documents.

The transaction is structured as a merger, with the disclosed consideration totaling $204,600,000. However, the specific consideration mix, including whether payment will be made entirely in HBT Financial common stock or through some combination of stock, cash, and other consideration, has not been disclosed. The precise exchange ratio or per-share consideration for Tri-County Financial Group shareholders remains undisclosed.

The announcement provides limited detail on deal terms and conditions. While the transaction value and general structure are known, critical details remain unavailable: the specific composition of consideration (equity, cash, debt instruments, or combinations thereof), any earnout provisions or contingent consideration, the per-share or per-unit economics for Tri-County shareholders, anticipated closing conditions or regulatory approvals required, any termination provisions or reverse termination fees, and the precise effective date or expected closing timeline have not been disclosed in the available source material.