---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-093098"
form_type: "8-K"
ticker: "BUSE"
cik: "0000314489"
company_name: "FIRST BUSEY CORP /NV/"
filed_at: "2024-08-27T23:59:59+00:00"
generated_at: "2026-05-31T07:30:36.037839+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Busey to acquire CrossFirst in all-stock merger; exchange ratio 0.6675

## Summary
- Busey issues 0.6675 shares per CrossFirst share; CrossFirst Preferred converts to Busey preferred or cash.
- Board expands to 13 directors: 8 from Busey (including CEO Dukeman), 5 from CrossFirst (including Maddox, Brenneman).
- Succession: Dukeman stays Executive Chairman & CEO; Maddox becomes EV Chairman, President, later CEO after 12-18 mo.
- Termination fee of $36.7M payable by either party under certain conditions; deal subject to regulatory and shareholder approvals.
- CrossFirst Bank to merge into Busey Bank; combined HQ in Kansas City, MO; Busey Bank main office in Champaign, IL.

## SEC filing metadata
- accession: 0001104659-24-093098
- form_type: 8-K
- ticker: BUSE
- cik: 0000314489
- company_name: FIRST BUSEY CORP /NV/
- filed_at: 2024-08-27T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 5.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/314489/000110465924093098/0001104659-24-093098-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/314489/000110465924093098/tm2422366d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-093098
- JSON: https://secwatch.observer/filing/0001104659-24-093098.json
- Plain text: https://secwatch.observer/filing/0001104659-24-093098.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.