HBT Financial Inc., the holding company for Heartland Bank and Trust Co. in Illinois, will expand its footprint into Iowa with the acquisition of NXT Bancorporation Inc., the Corridor Business Journal reported. Based in Bloomington, Ill., HBT has signed a definitive agreement to acquire NXT Bancorporation and NXT Bank, which has $241 million in assets. Based in Central City, NXT Bank also has branches in Cedar Rapids, Coralville, Iowa City and Marion. The transaction, with an aggregate value of about $42.8 million, is expected to close in the fourth quarter, subject to NXT shareholder approval and regulatory approvals. Upon closing of the deal, NXT Bank branches will become branches of Heartland Bank. The combined company would have estimated pro forma total assets of $4.1 billion, total loans of $2.5 billion, and total deposits of $3.5 billion. Nathan Koch, currently NXT Bank’s president and CEO, will join Heartland Bank as the Iowa market president.