Holding company for Heartland Bank and Trust Company, HBT Financial Inc, and Town and Country Financial Corporation, the holding company for Town and Country Bank on August 22, 2022, announced the signing of a definitive agreement, after which HBT Financial will be merging with Town and Country Financial Corporation (OTCMKTS:TWCF) and Town and Country Bank.
Trading Data
On Tuesday, TWCF stock ended flat at $28 with 100 shares, compared to its average volume of 6 shares. The stock moved within a range of $28.00 – 28.00 after opening trade at $28.
HBT Financial, Inc. Expands Illinois Footprint Through Merger with Town and Country Financial Corporation
A community bank with a presence in markets of St. Louis Metro East and Central Illinois, Town and Country Bank specializes in commercial banking. The Bank had total assets of $875 million, total loans of $624 million, and total deposits of $744 million.
As of June 30, 2022, the combined company had pro forma total assets of $5.1 billion, with total loans held for investment of $3.1 billion.
Fred Drake, Chairman, and CEO of HBT Financial said that the company is delighted at the announcement of the merger with Town and Country Financial Corporation. Drake added that the firm is operating with a similar relationship-based approach. The CEO also said that Town and Country have made a high-performing institution with an attractive deposit base. Its disciplined approach to M&A has facilitated in enhancement value of the franchise and the leader opined that the collaboration with Town and Country will help generate profitable growth.
Micah Bartlett, President, and CEO of Town and Country Financial Corporation said that the Town and Country team is proud of creating a high-performing and high-quality financial services firm. Bartlett added that the firm is excited about partnering with one of the highest-performing banking organizations in Illinois.
Town and Country Financial Corporation on August 3, 2022, announced financial results for quarter two of the year with robust net income.
