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Deal Overview

Buyer:
First Busey Corporation
Actual Acquirer:
First Busey Corporation
Target:
Tarpon Coast Bancorp, Inc.
Deal Type:
Bank & Thrift Company
Agreement Date:
2/24/2005
Announcement Date:
2/24/2005
Announced Deal Value ($ M):
38.76
Status:
Completed
Completion Date:
7/29/2005
Announced Deal Value Per Share ($ )
27.00

Consideration Breakout
Cash ($M) 17.4
Common Stock ($M) 21.3
Common Stock Issued 849,965

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 304.5 305.6
Price / Tangible Book (%) 304.5 305.6
Price / Earnings (x) 50.9 49.1
Price / Deposits (%) 29.36 27.40
Price / Assets (%) 26.61 24.66
Tangible Book Premium/ Deposits (%) 23.57 22.05
Deal Terms
Description of Consideration

First Busey paid $12.15 in cash and issued $14.85 in stock to acquire each outstanding share of Tarpon.

Accounting Method Purchase
In-State Transaction? No
Merger of Equals? No
Geographic Expansion? Market Expansion
Goodwill Generated ($ 000) 22,317
Estimated Cost Savings (%) NA
Estimated Cost Savings ($ 000) NA
Est. Restructuring Charges ($ 000) NA
Maximum Termination Fee ($ 000) 1,000
Minimum Termination Fee ($ 000) 0
Exchange Ratio (Common For Common) NA
Exchange Ratio (Common For Preferred) NA
Exchange Ratio (Preferred For Common) NA
Exchange Ratio (Preferred For Preferred) NA
Lockup Agreement No
Strike Price ($ ) NA
% of Shares Outstanding NA
Shares Under Option NA
Core Deposit Intangibles ($ 000) 2,371
Deal Advisers
Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer No NA
Seller Yes Keefe Ventures LLC
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Chapman & Cutler LLP
Seller Yes Smith Mackinnon PA