Town and Country Financial Corporation Announces Merger with Heartland Financial, Inc.
The Barack Ferrazzano Financial Institutions Group served as legal counsel to Town and Country Financial Corporation (OTC: TWCF), the holding company for Town and Country Bank, in its signing of a definitive agreement pursuant to which, HB-TC Merger, Inc., a wholly-owned subsidiary of HBT Financial, Inc. (NASDAQ: HBT), will merge with and into Town and Country Financial Corporation, with Town and Country Financial Corporation as the surviving entity, and as a result, Town and Country Financial Corporation will become a wholly-owned subsidiary of HBT Financial, Inc. Immediately following the merger, Town and Country Financial Corporation will merge with and into HBT Financial, Inc., with HBT Financial, Inc. as the surviving entity. The transaction is expected to close in the first quarter of 2023, subject to regulatory approvals and other customary closing conditions.
Town and Country Bank is a community bank serving markets in central Illinois and the St. Louis Metro area. This transaction expands HBT Financial’s Illinois footprint into the Springfield, St. Louis Metro East, Decatur, Jacksonville and Quincy markets.
“The Town and Country team is proud to have created a high-quality, high-performing financial services company. We are excited to partner with one of Illinois’ highest-performing banking organizations to create even more opportunities for our employees and customers. There are significant opportunities and challenges ahead in the banking business, and the combination of these two strong organizations makes us better equipped to flourish in the long run.”
Barack Ferrazzano’s legal team was led by Bill Fay and Nicholas M. Brenckman.
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