If he was close to retirement anyway. Acquiror would already have a CFO, so he would be harder to fit in.
You can find the CFO's employment contract online. If there is a change in control, his contract would automatically be extended for two years. I am guessing he didn't want to continue to work that long for a new company.
CFO taking a hit for the team ... thanks!!!! But he's not really losing because he's going to make more on his stock!
Wouldn't worry about the CFO ... CEO is on top of everything. HBKS isn't one of those banks where they have a Conference Call and the CEO turns the financial discussion over to the CFO.