First Busey’s Merger with CrossFirst Bankshares

First Busey (BUSE) just unveiled an update.

First Busey Corporation and CrossFirst Bankshares, Inc. have agreed on a merger, with Busey emerging as the surviving corporation. Upon completion, CrossFirst Bank will merge into Busey Bank, with the former’s common and preferred stock being converted into Busey stock at predetermined exchange ratios. Busey’s Board of Directors will expand to include members from CrossFirst, with executive roles clearly defined for continuity. The deal, subject to shareholder and regulatory approval, aims to establish a strong financial entity with a promising future for investors.

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