secwatch.observer — SEC 8-K summary
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Issuer:     FIRST BUSEY CORP /NV/ (BUSE)
CIK:        0000314489
Form:       8-K
Filed at:   2023-11-27T23:59:59+00:00
Accession:  0001104659-23-121284
Event type: m_and_a
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/314489/000110465923121284/0001104659-23-121284-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/314489/000110465923121284/tm2331239d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-121284

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer