UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Washington, D.C. 20549
FORM 8-K
Current Report
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): September 23, 2020
(Exact name of registrant as specified in its charter)
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(State or other jurisdiction of incorporation)
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(Commission File Number)
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(I.R.S. Employer Identification No.)
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(Address of principal executive offices) (Zip code)
(Registrant's telephone number, including area code)
N/A
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions (see General Instruction A.2. below):
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Securities registered pursuant to Section 12(b) of the Act:
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Title of each class
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Trading Symbol(s)
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Name of each exchange on which registered
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§
230.405 of this chapter) or Rule 12b– 2 of the Securities Exchange Act of 1934 (§ 240.12b–2 of this chapter). ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
| Item 5.02. |
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
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On September 23, 2020, on the recommendation of its Nominating and Corporate Governance Committee, the Board of Directors (the “Board”)
of First Busey Corporation (the “Company”) increased the number of directors constituting the full Board from 9 to 10 and appointed Samuel P. Banks as a director to fill the resultant vacancy, with such appointment effective immediately. Mr. Banks’
initial term will expire at the Company’s 2021 annual meeting of stockholders. As a current director of Busey Bank, the Company’s wholly-owned bank subsidiary, since 1994, Mr. Banks has extensive experience serving as a director of financial
institutions.
The Company has issued a press release announcing Mr. Banks’ appointment, a copy of which is attached to this Form 8-K as Exhibit 99.1
and is incorporated herein by reference.
Mr. Banks does not have a direct or indirect material interest in any transaction with the Company or Busey Bank which would be required
to be disclosed pursuant to Item 404(a) of Regulation S-K. There is also no arrangement or understanding between Mr. Banks and any other person pursuant to which Mr. Banks was selected as a director.
Mr. Banks will be entitled to receive compensation consistent with the previously disclosed arrangements for
non-employee directors as described in the Company’s proxy statement for its 2020 annual meeting of stockholders filed on April 9, 2020, including a base retainer per year and a grant of deferred stock units.
Item 9.01. Financial Statements and Exhibits.
Exhibit No. Description
104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
Signature
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to
be signed on its behalf by the undersigned hereunto duly authorized.
| Date: September 24, 2020 |
First Busey Corporation
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By: /s/ Van A. Dukeman
Name: Van A. Dukeman
Title: Chairman, President and Chief Executive Officer
FOR IMMEDIATE RELEASE
September 24, 2020
CONTACT:
Amy Randolph
217.365.4500
amy.randolph@busey.com
First Busey Corporation Names Sam Banks
to Board of Directors
Champaign, IL – First Busey Corporation (NASDAQ: BUSE)
has announced the appointment of Samuel P. Banks as an independent director of the board of directors effective September 23, 2020. His appointment brings the board to 10 members. As a director of Busey Bank since 1994, Mr. Banks has extensive
experience serving as a director of financial institutions.
Mr. Banks is Chief Executive Officer and Executive Director of Don Moyer Boys and Girls Club in Champaign, an agency devoted to improving and inspiring the
lives of children since its founding in 1968. In mid-September 2020, Mr. Banks publicly announced intended plans to retire as executive director of the Don Moyer Boys and Girls Club in June 2021. Prior to joining the Boys and Girls Club in May 2012,
he served as President and Chief Executive Officer of Glenwood Academy in the Chicago area and Cunningham Children’s Home in Urbana, Illinois; providing decades of leadership for two of the oldest and most notable child service organizations in
Illinois.
Mr. Banks has established a distinguished career of working with children and families and has received regional and national recognition for program development and organizational achievement. His work on behalf of youth and families in the Champaign-Urbana area has positively impacted services to at-risk youth, raised scholarship funds for minority and low-income college students, enhanced youth mentoring services, improved outreach to minority youth through scouting, developed the Martin Luther King Day youth program, and more. A proven leader, Mr. Banks is an effective community collaborator and successful fundraiser, having been involved with charitable organizations for nearly 40 years.
Mr. Banks has established a distinguished career of working with children and families and has received regional and national recognition for program development and organizational achievement. His work on behalf of youth and families in the Champaign-Urbana area has positively impacted services to at-risk youth, raised scholarship funds for minority and low-income college students, enhanced youth mentoring services, improved outreach to minority youth through scouting, developed the Martin Luther King Day youth program, and more. A proven leader, Mr. Banks is an effective community collaborator and successful fundraiser, having been involved with charitable organizations for nearly 40 years.
Mr. Banks has a bachelor's degree from Quincy University and a master's degree from the University of Illinois-Chicago. He has held leadership
roles for numerous corporate, professional and community organizations. Currently, Mr. Banks is an active mentor at local elementary schools and serves on the African American Advisory Group for the University of Illinois Urbana-Champaign
Chancellor and the Champaign County Community Coalition.
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Corporate Profile
As of June 30, 2020, First Busey Corporation (Nasdaq: BUSE) was a $10.84 billion financial holding company headquartered in Champaign, Illinois.
Busey Bank, the wholly-owned bank subsidiary of First Busey Corporation, had total assets of $10.82 billion as of June 30, 2020 and is headquartered in
Champaign, Illinois, with 61 banking centers serving Illinois, 13 banking centers serving Missouri, five banking centers serving southwest Florida and a banking center in Indianapolis, Indiana. Through Busey Bank’s Wealth Management division, the
Company provides asset management, investment and fiduciary services to individuals, businesses and foundations. As of June 30, 2020, assets under care were approximately $9.02 billion. Busey Bank owns a retail payment processing subsidiary,
FirsTech, Inc., which processes approximately 27 million transactions per year using online bill payment, lockbox processing and walk-in payments at its 4,000 agent locations in 43 states. More information about FirsTech, Inc. can be found at
firstechpayments.com.
Busey Bank was named among Forbes’ 2019 Best-In-State Banks—one of five in Illinois and 173 from across the country, equivalent to 2.8% of all U.S. banks.
Best-In-State Banks are awarded for exceptional customer experiences as determined by a survey sample of 25,000+ banking customers who rated banks on trust, terms and conditions, branch services, digital services and financial advice.
For more information about us, visit busey.com.
CONTACTS:
Jeffrey Jones, CFO Amy Randolph, EVP & Chief of Staff
First Busey Corporation First Busey Corporation
(217) 365-4500 (217) 365-4500
jeff.jones@busey.com amy.randolph@busey.com