Busey Bank

First Busey Corporation Finalizes Acquisition of Merchants and Manufacturers Bank Corporation and Merchants and Manufacturers Bank

Retrieved on: 
Monday, April 1, 2024
Culture, Busey Bank, MSA, Partnership, FDIC, Trust, Acquisition, M&M, Merchant, Sumitomo Mitsui Banking Corporation, Workforce, Bank

CHAMPAIGN, Ill. and OAKBROOK TERRACE, Ill., April 01, 2024 (GLOBE NEWSWIRE) -- First Busey Corporation (“Busey”) (NASDAQ: BUSE), the holding company for Busey Bank, announced the completion of its acquisition of Merchants and Manufacturers Bank Corporation (“M&M”), the holding company for Merchants and Manufacturers Bank (“M&M Bank”), effective April 1, 2024.

Key Points: 
  • CHAMPAIGN, Ill. and OAKBROOK TERRACE, Ill., April 01, 2024 (GLOBE NEWSWIRE) -- First Busey Corporation (“Busey”) (NASDAQ: BUSE), the holding company for Busey Bank, announced the completion of its acquisition of Merchants and Manufacturers Bank Corporation (“M&M”), the holding company for Merchants and Manufacturers Bank (“M&M Bank”), effective April 1, 2024.
  • Busey will operate M&M Bank as a separate banking subsidiary of Busey until it is merged with Busey Bank, which is expected to occur in June 2024.
  • M&M Bank was founded in 1969 as a locally-owned bank valuing its roles and responsibilities as a community bank, bringing a focused expertise in business banking.
  • ArentFox Schiff LLP served as legal counsel and Keefe, Bruyette & Woods, Inc., a Stifel Company served as financial advisor to M&M.

First Busey Corporation and Merchants and Manufacturers Bank Corporation Announce Election Deadline

Retrieved on: 
Tuesday, March 26, 2024
Florida Trend, Culture, Letter, Busey Bank, Pension, M&M, Merchant, Sumitomo Mitsui Banking Corporation, American Banker

CHAMPAIGN, Ill. and OAKBROOK TERRACE, Ill., March 26, 2024 (GLOBE NEWSWIRE) -- First Busey Corporation (“Busey”) (NASDAQ:BUSE), the holding company for Busey Bank, and Merchants and Manufacturers Bank Corporation (“M&M”), the holding company for Merchants and Manufacturers Bank (“M&M Bank”), today jointly announced that the election deadline for M&M shareholders of record to make merger consideration elections in connection with the previously announced merger between Busey and M&M is 5:00 p.m., Eastern Standard Time, on March 29, 2024.

Key Points: 
  • CHAMPAIGN, Ill. and OAKBROOK TERRACE, Ill., March 26, 2024 (GLOBE NEWSWIRE) -- First Busey Corporation (“Busey”) (NASDAQ:BUSE), the holding company for Busey Bank, and Merchants and Manufacturers Bank Corporation (“M&M”), the holding company for Merchants and Manufacturers Bank (“M&M Bank”), today jointly announced that the election deadline for M&M shareholders of record to make merger consideration elections in connection with the previously announced merger between Busey and M&M is 5:00 p.m., Eastern Standard Time, on March 29, 2024.
  • As of December 31, 2023, First Busey Corporation (Nasdaq: BUSE) was a $12.28 billion financial holding company headquartered in Champaign, Illinois.
  • Busey Bank, a wholly-owned bank subsidiary of First Busey Corporation, had total assets of $12.25 billion as of December 31, 2023, and is headquartered in Champaign, Illinois.
  • Busey Bank is honored to be named among America’s Best Banks by Forbes magazine for the second consecutive year.

Busey Bank Partners with CorServ to Implement a Modern Credit Card Program for Commercial Customers

Retrieved on: 
Monday, April 8, 2024
Interchange, Treasury, Level 2, Busey Bank, Treasury management, EVP, Bank

ATLANTA, April 8, 2024 /PRNewswire-PRWeb/ -- CorServ, a company that empowers banks and fintechs with payment programs, has partnered with Busey Bank ($12.5 billion in assets) to launch a modern credit card program for their commercial customers.

Key Points: 
  • ATLANTA, April 8, 2024 /PRNewswire-PRWeb/ -- CorServ , a company that empowers banks and fintechs with payment programs, has partnered with Busey Bank ($12.5 billion in assets) to launch a modern credit card program for their commercial customers.
  • "CorServ's commercial card program provides us with tools for credit decisioning, options for local servicing, and custom rebates which empower Busey Bank to better serve our commercial customers compared to what National card issuers can offer."
  • Aiming to add a comprehensive credit card solution to their suite of commercial banking services, Busey Bank transitioned out of an Agent Bank program to CorServ's Account Issuer Program.
  • With more control over credit decisions for their customers, Busey Bank will leverage CorServ's innovative solution to offer its commercial and business customers a comprehensive credit card program.

Increased Funding Through $39 Million Downpayment Plus® Grant Programs Provide Affordability Opportunities for More Illinois and Wisconsin Home Buyers

Retrieved on: 
Tuesday, March 26, 2024
Professional Services, Other Professional Services, Residential Building & Real Estate, Finance, Construction & Property, Banking, Personal Finance, Community, Busey Bank, Humanity, SVP, Senior, Housing, Federal Home Loan Banks, DPP, Multimedia, Real estate

FHLBank Chicago’s 2024 DPP programs budget is more than $39 million and the new per member limit represents a nearly 43% increase over the 2023 limit of $700,000.

Key Points: 
  • FHLBank Chicago’s 2024 DPP programs budget is more than $39 million and the new per member limit represents a nearly 43% increase over the 2023 limit of $700,000.
  • Member banks, credit unions and community development financial institutions use the DPP programs to provide year-round down payment grant assistance to qualified home buyers in Illinois and Wisconsin.
  • View the full release here: https://www.businesswire.com/news/home/20240326807520/en/
    The 2024 member limit increase is the latest in a series of program enhancements to provide more resources to home buyers through member financial institutions.
  • In 2023 alone, DPP grants totaling over $33 million supported affordable homeownership for more than 3,500 households.

First Busey Corporation and Merchants and Manufacturers Bank Corporation to Merge

Retrieved on: 
Monday, November 27, 2023
Busey Bank, 8-K, Workforce, Partnership, LLP, Acquisition, Sumitomo Mitsui Banking Corporation, M&M, Merchant, Bank

CHAMPAIGN, Ill. and OAKBROOK TERRACE, Ill., Nov. 27, 2023 (GLOBE NEWSWIRE) -- First Busey Corporation (“Busey”) (NASDAQ:BUSE), the holding company for Busey Bank, and Merchants and Manufacturers Bank Corporation (”M&M”), the holding company for Merchants & Manufacturers Bank (“M&M Bank”), today jointly announced the signing of a definitive agreement pursuant to which Busey will acquire M&M Bank through a merger transaction.

Key Points: 
  • CHAMPAIGN, Ill. and OAKBROOK TERRACE, Ill., Nov. 27, 2023 (GLOBE NEWSWIRE) -- First Busey Corporation (“Busey”) (NASDAQ:BUSE), the holding company for Busey Bank, and Merchants and Manufacturers Bank Corporation (”M&M”), the holding company for Merchants & Manufacturers Bank (“M&M Bank”), today jointly announced the signing of a definitive agreement pursuant to which Busey will acquire M&M Bank through a merger transaction.
  • It is anticipated M&M Bank will be merged with and into Busey Bank at a date following the completion of the merger.
  • At the time of the bank merger, M&M Bank banking centers will become branches of Busey Bank.
  • For additional information on First Busey Corporation’s planned acquisition of Merchants and Manufacturers Bank Corporation, please refer to the Investor Presentation furnished via Form 8-K on November 27, 2023, in connection with this press release.

Advantage Capital Makes First Investment from Empower the Change Fund with a $7.5 million Commitment to General Trucking

Retrieved on: 
Thursday, June 1, 2023
Other Transport, Trucking, Finance, Transport, Professional Services, DEI (Diversity, Equity and Inclusion), Socially Responsible Investing, Environmental, Social and Governance (ESG), Other Professional Services, Society for Human Resource Management, Partnership, Specialization, M&T Bank, SHRM, Tier, Like a Boss (film), John Deere, Empower (financial services), Busey Bank, UMB Financial Corporation, Change, Capital, BCF, Growth, Principal, Enterprise Bank, Echo sounding, Lake, Bank, Altria, Southern Bancorp

The investment was made in connection with the firm’s Empower the Change Fund—a growth capital fund dedicated to providing access to capital to minority entrepreneurs and minority-owned businesses enterprises (MBEs).

Key Points: 
  • The investment was made in connection with the firm’s Empower the Change Fund—a growth capital fund dedicated to providing access to capital to minority entrepreneurs and minority-owned businesses enterprises (MBEs).
  • “I am excited to see this first investment come to fruition,” said Sandra M. Moore, Chief Impact Officer and Managing Director, Advantage Capital.
  • “We know that targeted investing works—we’ve been doing it for 30 years,” said Brian Anderson, Principal and Empower the Change Investment lead at Advantage Capital.
  • To learn more about Advantage Capital and the Empower the Change Fund visit www.advantagecap.com/empowerthechange .

KBRA Releases Surveillance Report for First Busey Corporation

Retrieved on: 
Thursday, May 18, 2023
Banking, Professional Services, Finance, BBB, NIM, RBC, Fed, FHLB, KBRA, TCE, AOCL, Outlook, NPA, Busey Bank, Risk, CRE, C&D, Bank, Telescopic sight, K2

On April 14, 2023, KBRA affirmed the senior unsecured debt rating of BBB+, the subordinated debt rating of BBB, and the short-term debt rating of K2 for Champaign, Illinois based First Busey Corporation (NASDAQ: BUSE) (“the company”).

Key Points: 
  • On April 14, 2023, KBRA affirmed the senior unsecured debt rating of BBB+, the subordinated debt rating of BBB, and the short-term debt rating of K2 for Champaign, Illinois based First Busey Corporation (NASDAQ: BUSE) (“the company”).
  • In addition, KBRA affirmed the deposit and senior unsecured debt ratings of A-, the subordinated debt rating of BBB+, and the short-term deposit and debt ratings of K2 for its subsidiary, Busey Bank.
  • The ratings are underpinned by a conservatively managed balance sheet with limited loan concentration and leverage, strong funding capacity, and ample liquidity backstop.
  • BUSE’s highly diverse earnings profile also reflects a rating strength, driven by strong levels of recurring fee revenues that are less correlated to lending activities.

Advantage Capital and the NMSDC Business Consortium Fund Announce New Limited Partners, Continued Progress for Minority Business Growth Fund

Retrieved on: 
Wednesday, November 16, 2022
Small Business, Start-Up, Professional Services, Finance, Investment, Like a Boss (film), Busey Bank, Treasury, Society for Human Resource Management, Capital, Lake, Enterprise Bank, Partnership, MBE, SHRM, BCF, Southern Bancorp, Change, UMB Financial Corporation, John Deere, Family, United States federal executive departments, Truist Financial, Bank, Renewable energy, U.S. Bancorp, Deere

Advantage Capital, venture capital firm, small business lender and impact investor, announced today it has added three additional Limited Partners to a new growth capital fund dedicated to closing the racial wealth gap by investing in MBEs.

Key Points: 
  • Advantage Capital, venture capital firm, small business lender and impact investor, announced today it has added three additional Limited Partners to a new growth capital fund dedicated to closing the racial wealth gap by investing in MBEs.
  • In partnership with the NMSDC Business Consortium Fund (BCF), the impact-oriented fund will provide flexible risk capital to support minority businesses and help them scale.
  • Advantage Capital provides financing to established and emerging companies located in communities underserved by conventional sources of capital.
  • John Deere (Deere) is a current investor in the Empower the Change Fund that is managed by Advantage Capital.

First Busey Corporation Announces Pricing of Subordinated Notes Offering

Retrieved on: 
Wednesday, May 25, 2022
Busey Bank, File, Company, U.S. Securities and Exchange Commission, Forbes, Investment, Bank, NASDAQ, Public expenditure, House, Automated clearing house, IVR, Culture, Communication, Technology, National Automated Clearing House, Foundation, Mobile backend as a service, SEC, Growth, Prospectus, GLOBE, Security (finance), Financial services, Online shopping, Note

CHAMPAIGN, Ill., May 25, 2022 (GLOBE NEWSWIRE) -- First Busey Corporation (NASDAQ: BUSE) (theCompany), the holding company for Busey Bank (the Bank), today announced the pricing of its public offering of $100.0million aggregate principal amount of 5.000%Fixed-to-FloatingRate Subordinated Notes due 2032 (the Notes).

Key Points: 
  • CHAMPAIGN, Ill., May 25, 2022 (GLOBE NEWSWIRE) -- First Busey Corporation (NASDAQ: BUSE) (theCompany), the holding company for Busey Bank (the Bank), today announced the pricing of its public offering of $100.0million aggregate principal amount of 5.000%Fixed-to-FloatingRate Subordinated Notes due 2032 (the Notes).
  • The price to the public for the Notes was 100% of the principal amount of the Notes.
  • This offering is expected to close on June2, 2022, subject to the satisfaction of customary closing conditions.
  • Piper Sandler& Co. and U.S. Bancorp Investments, Inc. are acting as joint book-running managers for the offering.

SHRM Makes Investment to Support Minority-Owned Businesses

Retrieved on: 
Friday, February 25, 2022
Professional Services, Other Professional Services, Small Business, Human Resources, Finance, Consulting, Banking, Color, Workplace, Partnership, Human, Truist Financial, Twitter, Federal Reserve, United States federal executive departments, Organization, Black, SHRM, MBE, Treasury, Busey Bank, Society, LinkedIn, Society for Human Resource Management, BCF, HR, Southern Bancorp, Renewable energy, Management, Midland Bank, Altria, U.S. Bancorp

The fund will provide flexible risk capital to support minority businesses and help them grow.

Key Points: 
  • The fund will provide flexible risk capital to support minority businesses and help them grow.
  • SHRM joins other organizations including U.S. Bank, Truist Bank, Busey Bank, Midwest Bank, Midland Bank, Southern Bancorp and Altria in its support of the fund.
  • The fund anticipates it will start distributing capital to support minority-owned businesses in the next few months.
  • BCF is Americas most comprehensive financing and consulting support organization exclusively serving NMSDC certified minority-owned businesses.