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Deal Overview

Buyer:
First Busey Corporation
Actual Acquirer:
First Busey Corporation
Target:
Pulaski Financial Corp.
Deal Type:
Bank & Thrift Company
Agreement Date:
12/3/2015
Announcement Date:
12/3/2015
Announced Deal Value ($ M):
211.59
Status:
Completed
Completion Date:
4/30/2016
Announced Deal Value Per Share ($ )
17.46

Consideration Breakout
Common Stock ($M) 193.1
Common Stock Issued 9,400,000

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 171.3 NA
Price / Tangible Book (%) 177.0 NA
Price / Earnings (x) 14.9 14.6
Price / Deposits (%) 18.60 NA
Price / Assets (%) 13.90 NA
Tangible Book Premium/ Deposits (%) NA NA
Deal Terms
Description of Consideration

First Busey Corp. exchanged 0.79 shares of its common stock for each outstanding share of Pulaski Financial Corp. First Busey Corp. also assumed Pulaski Financial Corp.'s Trust Preferred Securities.

Accounting Method Acquisition
In-State Transaction? No
Merger of Equals? No
Geographic Expansion? Market Expansion
Goodwill Generated ($ 000) 77,304
Estimated Cost Savings (%) 25.00
Estimated Cost Savings ($ 000) 9,812
Est. Restructuring Charges ($ 000) 22,000
Maximum Termination Fee ($ 000) 9,000
Minimum Termination Fee ($ 000) 0
Exchange Ratio (Common For Common) 0.790000
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) 15,468
Deal Advisers
Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer Yes FIG Partners LLC
Seller Yes Sandler O'Neill & Partners LP
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Barack Ferrazzano Kirschbaum
Seller Yes Kilpatrick Townsend & Stockton