HBT Financial To Buy CNB Bank For Around $170.2 Mln

(RTTNews) - HBT Financial, Inc. (HBT) and CNB Bank Shares, Inc. (CNBN), on Monday announced a merger deal through which CNBN will merge with and into HBT in a transaction of around $170.2 million, based on HBT's 15-day volume weighted average share price of $24.44 as of October 17.

Under the terms, CNBN shareholders will receive either 1.0434 shares of HBT for each CNBN share, or $27.73 per share in cash, or a combination of cash and share consideration.

The merger is expected to close in the first quarter of 2026.  

Post transaction, shareholders of CNBN are expected to hold around 15% of HBT. The combined company will have around $6.9 billion in total assets, $4.7 billion in total loans, and approximately $5.9 billion in total deposits.