HBT Financial to Acquire Tri-County Financial Group in $204.6M Cash/Stock Deal
TYFG sits 84% above its 52-week low of $37.9 on elevated volume (9.2× avg).
Summary
HBT Financial to acquire Tri-County Financial Group in a $204.6 million cash/stock merger, adding $1.6 billion in assets and 19 branches in Illinois. The deal is expected to close in Q1 2027 and be 11.1% accretive to HBT's EPS in the first full year.
Key Events · M&A and Partnerships · TYFG
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Definitive Merger Agreement Signed
On August 10, 2026, HBT Financial, Inc. (NASDAQ: HBT) and Tri-County Financial Group, Inc. (OTC: TYFG) entered into a definitive merger agreement. The cash and stock transaction values TYFG at approximately $204.6 million.
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Consideration and Election Terms
Each TYFG shareholder may elect to receive 2.4589 shares of HBT common stock or $71.01 in cash per share, subject to proration. The aggregate cash consideration is fixed at approximately $59.9 million, with the remainder to be paid in roughly 3.8 million HBT shares.
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Financial Impact and Accretion
In the first full year with cost savings, the transaction is expected to be 11.1% accretive to HBT's earnings per share. Tangible book value dilution of 2.4% at closing is projected to earn back in less than one year using the crossover method.
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Governance and Integration
Post-closing, TYFG Chairman Thomas K. Prescott will join the boards of HBT Financial and Heartland Bank. TYFG President & CEO Kirk Ross will become a senior management officer at Heartland Bank. First State Mortgage Services, LLC will be divested or cease operations prior to closing.
Analysis · TYFG · Finance
A definitive agreement signed by HBT Financial (NASDAQ: HBT) will bring Tri-County Financial Group (OTC: TYFG) into its fold in a transaction valued at approximately $204.6 million. Under the terms, TYFG shareholders may elect to receive 2.4589 HBT shares or $71.01 in cash per share, with the aggregate cash consideration fixed at roughly $59.9 million and the stock portion at about 3.8 million HBT shares. The deal, which is expected to close in the first quarter of 2027 pending TYFG shareholder and regulatory approvals, is projected to be 11.1% accretive to HBT's earnings per share in the first full year with cost savings, while tangible book value dilution of 2.4% at closing is expected to earn back in less than one year. TYFG Chairman Thomas K. Prescott will join the boards of HBT and Heartland Bank. For HBT, this transformative acquisition expands its Illinois footprint and adds $1.6 billion in assets, while offering TYFG shareholders a premium and a stake in the combined entity.
At the time of this filing, TYFG was trading at $69.80 on OTC in the Finance sector, with a market capitalization of approximately $166M. The 52-week trading range was $37.90 to $71.34. This filing was assessed with positive market sentiment and an importance score of 9 out of 10.