The Barack Ferrazzano Financial Institutions Group served as legal counsel to the placement agents connected to the HBT Financial, Inc. (Nasdaq: HBT) (the “Company” or “HBT Financial”) sale and issuance of $40 million in aggregate principal amount of fixed-to-floating rate subordinated notes due 2030 (the "Notes") to certain qualified institutional buyers and institutional accredited investors in a private placement transaction. HBT Financial, the holding company for Heartland Bank and Trust Company and State Bank of Lincoln, intends to use the net proceeds from the offering for general corporate purposes.

The Notes will bear interest at an initial fixed rate of 4.50% for five years and will reset quarterly thereafter to the then current three-month SOFR plus 437 basis points. The Company may redeem the Notes, in whole or in part, at its option, on or after September 15, 2025, or prior to such date under certain limited circumstances. The Notes are intended to qualify as Tier 2 capital of the Company for regulatory purposes.

Barack Ferrazzano’s team was led by Robert M. Fleetwood, Abdul R. Mitha, and Katherine Fritzi Getz. Since March, the Financial Institutions Group has been engaged in 20 such offerings totaling over $1.5 billion in capital for the industry, many of which are still ongoing.

To learn more about this transaction, visit: https://www.globenewswire.com/news-release/2020/09/03/2088786/0/en/HBT-Financial-Inc-Announces-Issuance-of-40-Million-in-Subordinated-Notes.html

About HBT Financial, Inc.

Headquartered in Bloomington, Illiniois, HBT Financial, Inc. is the holding company for Heartland Bank and Trust Company and State Bank of Lincoln. The banks provide a comprehensive suite of business, commercial, wealth management, and retail banking products and services to individuals, businesses, and municipal entities throughout Central and Northeastern Illinois through 63 branches. HBT is a longstanding Central Illinois company, with banking roots that can be traced back 100 years.

To learn more, visit: https://ir.hbtfinancial.com

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