Tri-County Financial Group, Inc. [TYFG] - Tri-County Financial Group / Heartland Bank merger
Under the definitive merger agreement, each share of Tri-County Financial Group (TYFG) will be converted into the right to receive 2.4589 shares of Heartland Bank and Trust Company (HBT) common stock.
Why this matters
Tri-County Financial Group, operating as a state commercial bank, provides a range of banking services including commercial and personal banking, treasury, wealth management, and insurance offerings, primarily in central and northern Illinois. The company has entered into a definitive merger agreement with Heartland Bank and Trust Company, under which each share of Tri-County Financial Group will be converted into 2.4589 shares of Heartland Bank common stock. This merger, valued at approximately $204.6 million based on Heartland's stock price as of August 7, 2026, aims to expand Heartland's footprint in central Illinois and the Chicago metropolitan area, enhancing product opportunities for customers. The transaction has been unanimously approved by both companies' boards and is supported by shareholders holding about 28% of Tri-County's outstanding shares.