Mergers & Acquisitions

Return to Mergers & Acquisitions

Deal Overview

Buyer:
PNB Holding Company
Actual Acquirer:
Freestar Bank, National Association
Target:
5 Branches
Deal Type:
Bank & Thrift Branch
Seller:
First Busey Corporation
Agreement Date:
7/20/2007
Announcement Date:
7/20/2007
Number of Target Branches
5
Branch Locations
Champaign (2)
IL
Mahomet
IL
Urbana (2)
IL
Franchise Premium ($ 000)
NA
Tangible Book Premium/ Deposits (%)
NA
Status:
Completed
Completion Date:
11/2/2007

Deal Terms
Description of Consideration

NA

Financials
Deposits ($ 000) 102,200
Total Assets ($ 000) NA
Deal Advisers
Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer NA NA
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Quarles & Brady LLP
Seller NA NA
  • Rated 5-Star "Superior" by Bauer Financial
  • Busey Bank BBB Business Review
  • Certified Green Business by the Illinois Green Business Association
  • Norton Secured; powered by VeriSign
  • Digital Insight
  • Surcharge-free access at any MoneyPass network ATM
  • Equal Housing Lender
  • Member FDIC

 

 

 

 

 

 

 

With five lines of business—personal, mortgage, commercial, cash management and wealth management—working together as One Busey, we can meet all your financial needs with confidence. Customers who partner with us are rewarded with the Busey Advantage—regional capabilities and local priorities. It's a commitment that has stood the test of time.

On the personal side, Busey Bank promises to make your banking hassle free with smart personal checking and savings accounts, convenient online banking and mobile banking solutions and consumer loans. Whether you are ready to buy your first home or simply want to refinance the one you currently own, our practical home mortgages, participation in a wide range of special loan programs and in-house mortgage expertise mean your home loan is tailored to your individual needs.

From opening your first business checking account or loan to creating a strong succession plan, Busey can help you manage your growing business. Our business banking, lending and cash management solutions give you the tools you need to keep your business successful and nimble. Our participation in a wide variety of specialized programs and in-house credit expertise allow us to tailor commercial lending packages to your unique situation and make faster credit decisions. Busey knows that cash flow is the lifeblood of a business—whether you need help with receivables, payables, liquidity, fraud protection or information reporting, we can customize your cash management solution to your growing business' needs.

You've earned it. We'll grow it. Busey Wealth Management provides asset management, investment and fiduciary services to individuals, businesses and foundations. We build a team of local professionals around your needs to establish the best strategy for your situation. We work closely with you to develop a personal, comprehensive plan that will help you meet your goals and objectives through each phase of the wealth management process.