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Deal Overview

Buyer:
First Busey Corporation
Actual Acquirer:
First Busey Corporation
Target:
Main Street Trust, Inc.
Deal Type:
Bank & Thrift Company
Agreement Date:
9/20/2006
Announcement Date:
9/20/2006
Announced Deal Value ($ M):
348.70
Status:
Completed
Completion Date:
7/31/2007
Announced Deal Value Per Share ($ )
33.93

Consideration Breakout
Common Stock ($M) 307.0
Common Stock Issued 15,461,080

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 234.7 193.8
Price / Tangible Book (%) 282.9 229.1
Price / Earnings (x) 18.1 15.7
Price / Deposits (%) 28.92 24.40
Price / Assets (%) 22.41 20.01
Tangible Book Premium/ Deposits (%) 21.13 15.93
Deal Terms
Description of Consideration

First Busey Corp. exchanged 1.55 shares for each share of Main Street Trust Inc. common stock.

Accounting Method Purchase
In-State Transaction? Yes
Merger of Equals? Yes
Geographic Expansion? Partial Overlap
Goodwill Generated ($ 000) 208,520
Estimated Cost Savings (%) NA
Estimated Cost Savings ($ 000) NA
Est. Restructuring Charges ($ 000) 1,600
Maximum Termination Fee ($ 000) 15,000
Minimum Termination Fee ($ 000) 0
Exchange Ratio (Common For Common) 1.550000
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) 19,960
Deal Advisers
Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer Yes Keefe Bruyette & Woods Inc.
Seller Yes Sandler O'Neill & Partners LP
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Chapman & Cutler LLP
Seller Yes Barack Ferrazzano Kirschbaum