8-K
filed March 3, 2025, 6:59 PM ET
CIK 0001458412
M&A
confidence high
sentiment neutral
materiality 0.90
CROSSFIRST BANKSHARES, INC.: M&A transaction — CrossFirst Bankshares completes merger with First Busey; CFB shareholders receive 0.6675 Busey shares per CFB share
CROSSFIRST BANKSHARES, INC.
- CrossFirst merged with and into Busey on March 1, 2025; each CFB share converted into 0.6675 Busey shares.
- CrossFirst common stock delisted from NASDAQ; CrossFirst ceased to exist as separate entity.
- Michael J. Maddox appointed Executive Vice Chairman of Busey board and President of Busey; Amy J. Fauss appointed CIO/CTO.
- Five CrossFirst directors appointed to Busey's expanded 13-member board.
- Bank merger of CrossFirst Bank into Busey Bank expected to close June 20, 2025.
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.95
Amy J. Fauss departed as Chief Operating Officer at CROSSFIRST BANKSHARES, INC..
- Action
- ceased serving
- Role
- Chief Operating Officer
Exact text from the filing
CrossFirst’s directors and executive officers ceased serving as directors and executive officers of CrossFirst.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Steven W. Caple was appointed as Director at CROSSFIRST BANKSHARES, INC..
- Action
- appointed
- Role
- Director
Exact text from the filing
The five (5) CrossFirst Designated Directors that were appointed by the Busey board of directors to fill the vacancies resulting from the resignations of four (4) members of the Busey board of directors and the increase in the size of the Busey board of directors to thirteen (13) as of the Effective Time, in each case effective from and after the Effective Time, are as follows: Michael J. Maddox, Rodney K. Brenneman, Steven W. Caple, Jennifer M. Grigsby and Kevin S. Rauckman
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Steven W. Caple departed as Director at CROSSFIRST BANKSHARES, INC..
- Action
- ceased serving
- Role
- Director
Exact text from the filing
CrossFirst’s directors and executive officers ceased serving as directors and executive officers of CrossFirst.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Jennifer M. Grigsby departed as Director at CROSSFIRST BANKSHARES, INC..
- Action
- ceased serving
- Role
- Director
Exact text from the filing
CrossFirst’s directors and executive officers ceased serving as directors and executive officers of CrossFirst.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Kevin S. Rauckman departed as Director at CROSSFIRST BANKSHARES, INC..
- Action
- ceased serving
- Role
- Director
Exact text from the filing
CrossFirst’s directors and executive officers ceased serving as directors and executive officers of CrossFirst.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Rodney K. Brenneman departed as Director at CROSSFIRST BANKSHARES, INC..
- Action
- ceased serving
- Role
- Director
Exact text from the filing
CrossFirst’s directors and executive officers ceased serving as directors and executive officers of CrossFirst.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Rodney K. Brenneman was appointed as Director at CROSSFIRST BANKSHARES, INC..
- Action
- appointed
- Role
- Director
Exact text from the filing
The five (5) CrossFirst Designated Directors that were appointed by the Busey board of directors to fill the vacancies resulting from the resignations of four (4) members of the Busey board of directors and the increase in the size of the Busey board of directors to thirteen (13) as of the Effective Time, in each case effective from and after the Effective Time, are as follows: Michael J. Maddox, Rodney K. Brenneman, Steven W. Caple, Jennifer M. Grigsby and Kevin S. Rauckman
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Michael J. Maddox was appointed as Executive Vice Chairman of the Busey board of directors and President of Busey at CROSSFIRST BANKSHARES, INC..
- Action
- appointed
- Role
- Executive Vice Chairman of the Busey board of directors and President of Busey
Exact text from the filing
Michael J. Maddox, the President and Chief Executive Officer of CrossFirst prior to the Effective Time, was appointed Executive Vice Chairman of the Busey board of directors and as the President of Busey reporting to the Chief Executive Officer of Busey, and as the Chief Executive Officer and President of Busey Bank
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Kevin S. Rauckman was appointed as Director at CROSSFIRST BANKSHARES, INC..
- Action
- appointed
- Role
- Director
Exact text from the filing
The five (5) CrossFirst Designated Directors that were appointed by the Busey board of directors to fill the vacancies resulting from the resignations of four (4) members of the Busey board of directors and the increase in the size of the Busey board of directors to thirteen (13) as of the Effective Time, in each case effective from and after the Effective Time, are as follows: Michael J. Maddox, Rodney K. Brenneman, Steven W. Caple, Jennifer M. Grigsby and Kevin S. Rauckman
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Michael J. Maddox departed as President and Chief Executive Officer at CROSSFIRST BANKSHARES, INC..
- Action
- ceased serving
- Role
- President and Chief Executive Officer
Exact text from the filing
CrossFirst’s directors and executive officers ceased serving as directors and executive officers of CrossFirst.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Jennifer M. Grigsby was appointed as Director at CROSSFIRST BANKSHARES, INC..
- Action
- appointed
- Role
- Director
Exact text from the filing
The five (5) CrossFirst Designated Directors that were appointed by the Busey board of directors to fill the vacancies resulting from the resignations of four (4) members of the Busey board of directors and the increase in the size of the Busey board of directors to thirteen (13) as of the Effective Time, in each case effective from and after the Effective Time, are as follows: Michael J. Maddox, Rodney K. Brenneman, Steven W. Caple, Jennifer M. Grigsby and Kevin S. Rauckman
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Amy J. Fauss was appointed as Chief Information and Technology Officer at CROSSFIRST BANKSHARES, INC..
- Action
- appointed
- Role
- Chief Information and Technology Officer
Exact text from the filing
Amy J. Fauss, the Chief Operating Officer of CrossFirst prior to the Effective Time, was appointed Chief Information and Technology Officer of Busey and Busey Bank.
View on SEC.gov
Governance Changes
SEC 8-K Item 5.03/5.05/5.06
confidence 0.9
CROSSFIRST BANKSHARES, INC.: CrossFirst's articles and bylaws ceased to be in effect upon merger; Busey's organizational documents became governing documents.
- Change
- bylaw amendment
Exact text from the filing
As of the Effective Time, the Articles of Incorporation, as amended, and the Bylaws of CrossFirst ceased to be in effect by operation of law.
View on SEC.gov
M&A Transactions
SEC 8-K Item 2.01/5.01
confidence 0.9
CROSSFIRST BANKSHARES, INC. underwent a change of control involving First Busey Corporation for 0.6675 of a share of Busey Common Stock per share of CrossFirst Common Stock (closed 2025-03-01).
- Action
- change of control
- Counterparty
- First Busey Corporation
- Consideration
- 0.6675 of a share of Busey Common Stock per share of CrossFirst Common Stock
- Closing
- 2025-03-01
Exact text from the filing
Kansas corporation (“CrossFirst”), with and into First Busey Corporation, a Nevada corporation (“Busey”), with Busey as the surviving corporation in the Merger, pursuant to the Agreement and Plan of Merger, dated as of August 26, 2024 (the
View on SEC.gov
This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice.
See methodology for how this pipeline works.