Key insight: HBT Financial is bolstering its presence in Illinois by acquiring another in-state rival. "First State Bank is a fine addition to Heartland Bank," Fred Drake, executive chairman of HBT since 2023, said in a press release. Even prior to the Tri-County deal, HBT Financial had been working its way toward the $10 billion-asset threshold, which triggers new regulatory challenges, including the cap on debit interchange fees. Read more:First State's mortgage operations will be sold or will cease operations prior to closing the deal, HBT said in a presentation. There is some branch overlap, including five First State Bank branches that are located within two miles of an existing Heartland Bank and Trust office, according to the presentation.