HBT Financial, a family-owned bank with 64 branches in central and northeastern Illinois, announced terms for its IPO on Tuesday.
The Bloomington, IL-based company plans to raise $149 million by offering 8.3 million shares at a price range of $17 to $19. At the midpoint of the proposed range, HBT Financial would command a market value of $474 million.
HBT Financial was founded in 1920 and booked $163 million in revenue for the 12 months ended June 30, 2019. It plans to list on the Nasdaq under the symbol HBT. Keefe Bruyette Woods and J.P. Morgan are the joint bookrunners on the deal. It is expected to price on Thursday, October 10, 2019.
