secwatch.observer — SEC 8-K summary
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Issuer:     FIRST BUSEY CORP /NV/ (BUSE)
CIK:        0000314489
Form:       8-K
Filed at:   2025-03-03T23:59:59+00:00
Accession:  0001104659-25-019504
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.85
Item codes: 2.01, 3.03, 5.02, 5.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Busey completes acquisition of CrossFirst Bankshares, effective March 1, 2025
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- CrossFirst shareholders received 0.6675 Busey shares per share; Busey authorized shares increased to 200M.
- Board expanded to 13: eight Busey designees, five CrossFirst designees; Samuel Banks, Barr, Lykins, Sanford resigned.
- Michael Maddox named Executive Vice Chairman and President of Busey, CEO/President of Busey Bank; Dukeman remains Executive Chairman and CEO.
- Rodney Brenneman appointed Lead Independent Director; headquarters to be located near Kansas City, MO.
- Retention agreements for Randolph ($2.09M), Powers ($813.5K), Bowe ($1.63M); Phillips employment agreement with $150K retention bonus.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/314489/000110465925019504/0001104659-25-019504-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/314489/000110465925019504/tm257855d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-25-019504

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