M&A Deal Summary

HBT Financial Acquires NXT Bank

On June 7, 2021, HBT Financial acquired financial services company NXT Bank

Acquisition Highlights
  • This is HBT Financial’s 1st transaction in the Financial Services sector.
  • This is HBT Financial’s 1st transaction in the United States.
  • This is HBT Financial’s 1st transaction in Iowa.

M&A Deal Summary
Date 2021-06-07
Target NXT Bank
Sector Financial Services
Buyer(s) HBT Financial
Deal Type Merger
Advisor(s) D.A. Davidson & Co. (Financial)
Vedder Price P.C. (Legal)

Target

NXT Bank

Central City, Iowa, United States
NXT Bank is a community bank serving markets in Eastern Iowa with a relationship-based approach. Offering commercial, agricultural, real estate, and consumer loans along with a full range of depository products, NXT Bank had $241 million in assets, $198 million in loans, and $184 million in deposits. NXT Bank was founded in 1946 and is based in Central City, Iowa.

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Buyer(S) 1

Buyer

HBT Financial

Bloomington, Illinois, United States
Category Company
Founded 1920
Sector Financial Services
Employees844
Revenue 226M USD (2023)
DESCRIPTION

HBT Financial provides 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 62 branches. HBT Financial was founded in 1920 and is based in Bloomington, Illinois.

DEAL STATS #
Overall 1 of 1
Sector (Financial Services) 1 of 1
Type (Merger) 1 of 1
State (Iowa) 1 of 1
Country (United States) 1 of 1
Year (2021) 1 of 1
Mergr

Product

Company

Legal