secwatch.observer — SEC 8-K summary
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Issuer:     FIRST BUSEY CORP /NV/ (BUSE)
CIK:        0000314489
Form:       8-K
Filed at:   2024-04-01T23:59:59+00:00
Accession:  0000314489-24-000112
Event type: m_and_a
Sentiment:  positive
Materiality: 0.60
Item codes: 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

First Busey closes acquisition of M&M Bank for $12.2M cash plus 1.43M shares
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- Consideration: $12.2M cash and 1,429,324 Busey shares; per M&M share options of $117.74 cash, 5.7294 Busey shares, or mixed.
- M&M Bank to operate as separate subsidiary until merged into Busey Bank expected June 2024; Joliet office to close.
- Pro forma combined: $12.8B assets, $8.1B loans, $10.7B deposits, $12.1B wealth assets under care as of Dec 31, 2023.
- M&M adds $0.5B assets; strengthens Busey's Chicago MSA deposit share to #8 (excluding >$100B institutions).
- Combined franchise serves 62 full-service locations across IL, MO, FL, IN.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/314489/000031448924000112/0000314489-24-000112-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/314489/000031448924000112/buse-20240401.htm
  HTML page:      https://secwatch.observer/filing/0000314489-24-000112

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