Mergers & Acquisitions

MergerGraphOver the last decade, First Busey Corporation has tripled in asset size by executing on a sequence of strategic acquisitions resulting in successful, intentional growth for Busey’s banking and wealth management services.

Remaining focused on Busey’s vitality and longevity, these strategic partnerships are developed with those organizations best positioned to build upon Busey’s strong heritage. As we grow through M&A, we remain committed to the priorities of balance sheet strength, profitability and growth, in that order—and a commitment to providing our customers with a superior service experience in every interaction.

Most recently—in April 2024—First Busey completed the acquisition of Merchants & Manufacturers Bank Corporation, the holding company for Merchants & Manufacturers Bank, to add M&M’s Life Equity Loan® products to Busey’s existing suite of services and expand Busey’s presence in the Chicago MSA.

Prior to the M&M Bank partnership, Busey broadened its presence in the North Shore and Northwest communities of the greater Chicagoland area with the Glenview State Bank merger in May 2021; added Investors’ Security Trust, a prominent wealth management firm in southwest Florida, in September 2019; entered the metro east area of St. Louis in January 2019 with TheBANK of Edwardsville merger; expanded into west central Illinois with South Side Bank in October 2017; first reached Chicagoland with First Community Bank in July 2017; entered Greater St. Louis with Pulaski Bank in April 2016; and expanded in the Peoria, IL area with Herget Bank in January 2015.

Bank & Thrift Company Deals

Target Seller State Industry Type Announce Date Status Deal Value ($ M) Target Total Assets ($ 000)
Merchants and Manufacturers Bank Corporation IL Bank 11/27/2023 Completed On 4/1/2024 44.6 473,109
Cummins-American Corp. IL Bank 1/19/2021 Completed On 5/31/2021 129.5 1,450,537
Banc Ed Corp. IL Bank 8/22/2018 Completed On 1/31/2019 261.31 1,853,128
Mid Illinois Bancorp, Inc. IL Bank 3/13/2017 Completed On 10/1/2017 138.20 665,016
First Community Financial Partners, Inc. IL Bank 2/6/2017 Completed On 7/2/2017 239.70 1,268,210
Pulaski Financial Corp. MO Bank 12/3/2015 Completed On 4/30/2016 195.33 1,521,694
Herget Financial Corp. IL Bank 9/26/2014 Completed On 1/8/2015 34.10 273,412
Main Street Trust, Inc. IL Bank 9/20/2006 Completed On 7/31/2007 306.97 1,556,144
Tarpon Coast Bancorp, Inc. FL Bank 2/24/2005 Completed On 7/29/2005 38.76 145,633
First Capital Bankshares, Incorporated IL Bank 1/5/2004 Completed On 6/1/2004 41.39 217,125
Eagle BancGroup, Inc. IL Thrift 6/30/1999 Completed On 10/29/1999 27.10 182,947
Eagle Bank of Champaign County, NA IL Bank 4/13/1993 Terminated NA 20,459
Empire Capital Corporation IL Bank 10/2/1992 Completed On 2/28/1993 9.00 61,416

Bank & Thrift Branch Deals

Target Seller Industry Type Announce Date Status Number of Branches Total Deposits Transferred ($ 000)
1 Branch R & G Financial Corporation Thrift 1/31/2003 Completed On 8/18/2003 1 FL
2 Branches First of America Bank Corporation Bank 10/4/1995 Completed On 12/28/1995 2 IL
2 Branches CSF Holdings, Inc. Thrift 8/22/1991 Completed On 4/10/1992 2 IL

Government Assisted Deals

Target Seller State Industry Type Date Sold Gross Proceeds ($000) Total Deposits Transferred ($000) Target Total Assets ($ 000)
Eagle Bank of Champaign County IL Bank 7/1/1993 17,700 17,900 17,200
Olympic Federal / Kankakee, Bloomington IL Thrift 3/27/1992 1,707 NA 60,251

Securities & Investments Deals

Target Seller Type Announce Date Status Deal Value ($ M) Target Total Assets ($ 000)
Investors' Security Trust Company Asset Manager 5/13/2019 Completed On 8/31/2019 12.00 NA
Secord Asset Management Inc. Asset Manager 6/5/2000 Completed On 6/5/2000 NA NA

Bank & Thrift Branch Deals

Target Buyer Industry Type Announce Date Status Number of Branches All Branch States Total Deposits Transferred ($ 000)
5 Branches PNB Holding Company Bank 11/2/2007 Completed On 11/2/2007 5 IL 102,200