HBT Financial, Inc. Completes Merger With Town and Country Financial Corporation
01 Febrero 2023 - 3:05PM
HBT Financial, Inc. (NASDAQ: HBT) (the “Company”, “HBT Financial”
or “HBT”), the holding company for Heartland Bank and Trust
Company, today announced that it has completed its merger with Town
and Country Financial Corporation (“Town and Country”), the holding
company for Town and Country Bank. As of December 31, 2022, Town
and Country Bank had $923 million in total assets,
$662 million in total loans held for investment, and
$762 million in total deposits.
The completion of the merger expands HBT Financial’s Illinois
footprint into the Springfield, St. Louis Metro East, Decatur,
Jacksonville and Quincy markets.
Fred L. Drake, Chairman and Chief Executive Officer of HBT
Financial, said, “We are very excited to close this merger with
Town and Country. We welcome their customers, staff and
shareholders to HBT. We have a long track record of successful bank
integrations and plan to make a smooth transition. We are a
high-performing community bank and provide a superior banking
experience for our customers. The acquisition will offer enhanced
lending capabilities to Town and Country’s communities and
customers, as well as excellent wealth management and farm
management services.”
About HBT Financial, Inc.
HBT Financial, Inc., headquartered in Bloomington, Illinois, is
the holding company for Heartland Bank and Trust Company, and has
banking roots that can be traced back to 1920. HBT provides a
comprehensive suite of business, commercial, wealth management, and
retail banking products and services to individuals, businesses and
municipal entities throughout Illinois and Eastern Iowa through
68 full-service branches. As of December 31, 2022, HBT
had total assets of $4.3 billion, total loans of
$2.6 billion, and total deposits of $3.6 billion.
Forward-Looking Statements
Readers should note that in addition to the historical
information contained herein, this press release contains, and
future oral and written statements of the Company and its
management may contain, "forward-looking statements" within the
meanings of the Private Securities Litigation Reform Act of 1995,
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended.
Forward-looking statements generally can be identified by the use
of forward-looking terminology such as "will," "propose," "may,"
"plan," "seek," "expect," "intend," "estimate," "anticipate,"
"believe," "continue," or “should,” or similar terminology. Any
forward-looking statements presented herein are made only as of the
date of this press release, and the Company does not undertake any
obligation to update or revise any forward-looking statements to
reflect changes in assumptions, the occurrence of unanticipated
events, or otherwise.
Factors that could cause actual results to differ materially
from these forward-looking statements include, but are not limited
to: (i) the strength of the local, state, national and
international economies (including effects of inflationary
pressures and supply chain constraints); (ii) the economic impact
of any future terrorist threats and attacks, widespread disease or
pandemics (including the COVID-19 pandemic in the United States),
acts of war or other threats thereof, or other adverse external
events that could cause economic deterioration or instability in
credit markets, and the response of the local, state and national
governments to any such adverse external events; (iii) changes in
accounting policies and practices, as may be adopted by state and
federal regulatory agencies, the FASB or the PCAOB; (iv) changes in
state and federal laws, regulations and governmental policies
concerning the Company’s general business; (v) changes in interest
rates and prepayment rates of the Company’s assets (including the
impact of LIBOR phase-out); (vi) increased competition in the
financial services sector and the inability to attract new
customers; (vii) changes in technology and the ability to develop
and maintain secure and reliable electronic systems; (viii)
unexpected results of acquisitions, which may include failure to
realize the anticipated benefits of acquisitions and the
possibility that transaction costs may be greater than anticipated;
(ix) the loss of key executives or employees; (x) changes in
consumer spending; (xi) unexpected outcomes of existing or new
litigation involving the Company; (xii) the economic impact of
exceptional weather occurrences such as tornadoes, floods and
blizzards; (xiii) potential adverse reactions or changes to
business or employee relationships, including those resulting from
the acquisition of Town and Country; (xiv) the diversion of
management time on transaction-related issues; (xv) the ultimate
timing, outcome and results of integrating the operations of Town
and Country into those of HBT; (xvi) the effects of the merger on
HBT’s future financial condition, results of operations, strategy
and plans; and (xvii) the ability of the Company to manage the
risks associated with the foregoing. Readers should note that the
forward-looking statements included in this press release are not a
guarantee of future events, and that actual events may differ
materially from those made in or suggested by the forward-looking
statements. Additional information concerning the Company and its
business, including additional factors that could materially affect
the Company’s financial results, is included in the Company’s
filings with the Securities and Exchange Commission.
CONTACT:Peter ChapmanHBTIR@hbtbank.com(888)
897-2276
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