Short answer
HBT Financial, Inc. (HBT) filed an 8-K current report with the SEC on March 2, 2026 reporting Item 2.01 (Completion of Acquisition or Disposition of Assets), Item 5.02 (Departure/Election of Directors or Officers), Item 7.01 (Regulation FD Disclosure). Acquisition of CNB Bank Shares closed March 1, 2026; total consideration ~$34M cash + ~5.5M HBT shares.
HBT Financial, Inc. 8-K event analysis
AI summary of each reported item and its exhibits
Item 2.01 · Completion of Acquisition or Disposition of Assets
- Acquisition of CNB Bank Shares closed March 1, 2026; total consideration ~$34M cash + ~5.5M HBT shares
- Exchange ratio: 1.0434 HBT shares or $27.73 cash per CNB share, with mix elections subject to proration
- CNB Bank & Trust merged into Heartland Bank, expanding HBT's Illinois community banking footprint
- CNB shares (OTC: CNBN) delisted from OTC QX Market following close
Item 5.02 · Departure/Election of Directors or Officers
- Two CNB-legacy directors added to HBT Financial and Heartland Bank boards effective March 1, 2026, tied to merger close
- Ashworth: former CNB President and Vice Chairman; brings deep community banking and FHLB Chicago governance experience
- Ruyle: former CNB board member and retired attorney; adds legal and independent oversight background
- Both serve initial terms expiring at 2026 Annual Meeting; no committee assignments at this time
- Compensation follows standard non-employee director program per 2025 proxy: no special merger-related pay packages
Item 7.01 · Regulation FD Disclosure
- HBT Financial completed a merger as of March 2, 2026: a material structural event with potential balance sheet and earnings impact
- Two new board members appointed: Mr. Ashworth and Ms. Ruyle, signaling governance changes post-merger
- Full details in Exhibit 99.1 press release; merger terms, deal value, and counterparty not disclosed in this item
Generated from the filing text and exhibits; verify against the original. What 8-K item codes mean
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