HBT Financial to Acquire The First National Bank of Pawnee
Ticker: HBT · Form: 8-K · Filed: Oct 23, 2024 · CIK: 775215
| Field | Detail |
|---|---|
| Company | Hbt Financial, INC. (HBT) |
| Form Type | 8-K |
| Filed Date | Oct 23, 2024 |
| Risk Level | medium |
| Pages | 1 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.01, $0.19 |
| Sentiment | neutral |
Sentiment: neutral
Topics: acquisition, expansion, banking
TL;DR
HBT Financial buying another bank in IL. Details TBD.
AI Summary
HBT Financial, Inc. announced on October 22, 2024, that it has entered into a definitive agreement to acquire The First National Bank of Pawnee for an undisclosed amount. This acquisition is expected to expand HBT Financial's presence in Illinois.
Why It Matters
This acquisition signifies HBT Financial's strategic growth initiative, aiming to increase its market share and customer base within Illinois.
Risk Assessment
Risk Level: medium — Acquisitions carry inherent risks related to integration, regulatory approval, and potential unforeseen financial liabilities.
Key Players & Entities
- HBT Financial, Inc. (company) — Registrant and acquirer
- The First National Bank of Pawnee (company) — Target company for acquisition
- October 22, 2024 (date) — Date of the definitive agreement
- Illinois (location) — Geographic area of expansion
FAQ
What is the financial impact of the acquisition of The First National Bank of Pawnee on HBT Financial, Inc.?
The filing does not disclose the specific dollar amount of the acquisition, so the immediate financial impact is not detailed.
When is the acquisition of The First National Bank of Pawnee expected to be completed?
The filing does not specify an expected completion date for the acquisition.
What is the strategic rationale behind HBT Financial, Inc. acquiring The First National Bank of Pawnee?
The acquisition is intended to expand HBT Financial's presence in Illinois.
Has HBT Financial, Inc. previously acquired other financial institutions?
The filing mentions HBT Financial, Inc. was formerly known as Heartland Bancorp, Inc., indicating past corporate changes, but does not detail previous acquisitions.
Are there any specific regulatory approvals required for this acquisition?
While not explicitly detailed in this excerpt, acquisitions of banks typically require regulatory approvals from relevant authorities.
Filing Stats: 408 words · 2 min read · ~1 pages · Grade level 10.8 · Accepted 2024-10-23 08:52:00
Key Financial Figures
- $0.01 — ich registered Common Stock, par value $0.01 per share HBT The Nasdaq Stock Market L
- $0.19 — ) declared a quarterly cash dividend of $0.19 per share on the Company's common stock
Filing Documents
- hbt-20241022.htm (8-K) — 21KB
- 0001628280-24-043355.txt ( ) — 145KB
- hbt-20241022.xsd (EX-101.SCH) — 2KB
- hbt-20241022_lab.xml (EX-101.LAB) — 22KB
- hbt-20241022_pre.xml (EX-101.PRE) — 13KB
- hbt-20241022_htm.xml (XML) — 3KB
01 Other Events
Item 8.01 Other Events. On October 22, 2024, the Board of Directors of HBT Financial, Inc. (the "Company") declared a quarterly cash dividend of $0.19 per share on the Company's common stock (the "Dividend"). The Dividend is payable on November 12, 2024 to shareholders of record as of November 4, 2024.
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. HBT FINANCIAL, INC. By: /s/ Peter R. Chapman Name: Peter R. Chapman Title: Chief Financial Officer Date: October 23, 2024