Return to Mergers & Acquisitions

Deal Overview

Buyer:
First Busey Corporation
Actual Acquirer:
First Busey Corporation
Target:
First Community Financial Partners, Inc.
Deal Type:
Bank & Thrift Company
Agreement Date:
2/6/2017
Announcement Date:
2/6/2017
Announced Deal Value ($ M):
242.00
Status:
Completed
Completion Date:
7/2/2017
Announced Deal Value Per Share ($ )
13.08

Consideration Breakout
Cash ($M) 24.0
Common Stock ($M) 206.0
Common Stock Issued 7,347,227

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 198.3 190.8
Price / Tangible Book (%) 199.7 191.9
Price / Earnings (x) 20.4 18.3
Price / Deposits (%) 22.34 21.63
Price / Assets (%) 19.08 17.93
Tangible Book Premium/ Deposits (%) 14.99 13.36
Deal Terms
Description of Consideration

First Busey Corp. paid $1.35 in cash and exchanged 0.3960 shares of its common stock for each outstanding share of First Community Financial Partners Inc. First Busey Corp. also assumed First Community Financial Partners Inc.'s debt instruments.

Accounting Method Acquisition
In-State Transaction? Yes
Merger of Equals? No
Geographic Expansion? Market Expansion
Goodwill Generated ($ 000) 115,982
Estimated Cost Savings (%) 25.00
Estimated Cost Savings ($ 000) 6,213
Est. Restructuring Charges ($ 000) 13,100
Maximum Termination Fee ($ 000) 9,000
Minimum Termination Fee ($ 000) 0
Exchange Ratio (Common For Common) 0.396000
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) 13,979
Deal Advisers
Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer Yes Stephens Inc.
Seller Yes FIG Partners LLC
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Barack Ferrazzano Kirschbaum
Seller Yes Howard & Howard Attorneys PLLC