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.
For comments and feedback contact: editorial@rttnews.com
Business News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.