First Busey Corporation Files Registration Statement For Public Offering of Trust Preferred Securities: May 18, 2001
First Busey Corporation announced that it filed a registration statement on May 17, 2001 with the Securities and Exchange Commission covering 2,300,000 shares of Trust Preferred Securities to be issued by its wholly owned subsidiary, First Busey Capital Trust I, including 300,000 Trust Preferred Securities issuable pursuant to an overallotment option granted to the underwriters. It is anticipated that the initial public offering price will be $10.00 per preferred security. The co-managing underwriters of the offering, Howe Barnes Investments, Inc., Chicago, Illinois, and Stephens Inc., Little Rock, Arkansas, expect the public offering to be completed in June 2001.
First Busey Corporation is a financial holding company headquartered in Urbana, Illinois. It has two banking subsidiaries, Busey Bank and Busey Bank, fsb. Busey Bank is headquartered in Urbana, Illinois and serves Champaign and Ford Counties in Illinois with 14 banking centers as well as one banking center in Indianapolis, Indiana. Busey Bank has loan production offices in Ft. Myers and Naples, Florida, and also owns Busey Travel in Champaign. Busey Bank, fsb serves McLean County with five banking centers and in October of 2000 opened a banking center in Ft. Myers, Florida. Busey also provides electronic delivery of financial services through Busey ebank (www.busey.com). Busey Investment Group is a wholly-owned subsidiary of First Busey Corporation and owns three separate service corporations. First Busey Trust & Investment Co. is a service corporation specializing in asset management and trust services. It has over $1 billion in assets under care. Another service corporation is First Busey Securities, Inc., a full-service broker/dealer subsidiary which has more than $500 million in assets under care and is a member of NASD/SIPC. The third service corporation is Busey Insurance Services, Inc. which specializes in long-term healthcare insurance as well as providing additional insurance products.
A registration statement relating to the preferred securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This communication shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. Once available, a copy of a preliminary prospectus may be obtained from Howe Barnes Investments, Inc., 135 South LaSalle Street, Chicago, Illinois 60603, Attention: Syndicate Department.