HBT Financial (NASDAQ:HBT), the holding company for Heartland Bank and Trust Company, announced Monday that it has successfully completed its merger with CNB Bank Shares.
The transaction, effective March 1–2, 2026, integrates the Carlinville-based CNB Bank & Trust into HBT’s operations, significantly increasing the lender's density across central Illinois and providing a strategic entry into the Missouri market.
The acquisition adds approximately $1.8 billion in total assets, $1.3 billion in loans held for investment, and $1.5 billion in deposits to HBT’s balance sheet, based on December 31, 2025, figures.
The combined institution now manages approximately $6.9 billion in total assets and $5.9 billion in total deposits across 84 branch locations.
Under the terms of the agreement, valued at approximately $170.2 million at the time of announcement, CNB shareholders received a mix of cash and HBT common stock.
Former CNB directors James T. Ashworth and Nancy L. Ruyle have joined the boards of HBT Financial and Heartland Bank, effective March 1, ensuring leadership continuity from the legacy CNB franchise.