Busey to acquire M&M Bank for ~$41.6M in stock/cash; expands Chicago presence

FIRST BUSEY CORP /NV/

Consideration: 71% stock / 29% cash; $117.74 per M&M share or 5.7294 Busey shares per election.
M&M had $473M assets, $406M loans, $399M deposits as of Sept 30, 2023.
Transaction expected close in Q2 2024; adds 5 branches and Life Equity Loan product.
Pro forma combined: $12.7B assets, $8.3B loans, $10.7B deposits, >$11.5B wealth AUM.
Deal multiple: 1.42x TBV, ~6%+ EPS accretion in 2025/2026; >25% projected IRR.

item 1.01 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.4

FIRST BUSEY CORP /NV/ entered into Agreement and Plan of Merger with Merchants and Manufacturers.

Action: entry
Agreement: merger
Counterparty: Merchants and Manufacturers

Exact text from the filing

hampaign, Illinois 61820 or by calling (217) 365-4630, or from M&M, upon written request to Merchants and Manufacturers B

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38 material agreements filed in the last 30 days. Browse all material agreements →

FIRST BUSEY CORP /NV/ filing history →

Source: SEC EDGAR

accession 0001104659-23-121284

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