• First Busey Corporation
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  • First Busey Corporation and Mid Illinois Bancorp Announce Election Deadline
    Company Release - 09/21/2017 17:00

    CHAMPAIGN, Ill. and PEORIA, Ill., Sept. 21, 2017 (GLOBE NEWSWIRE) -- First Busey Corporation (“Busey”) (NASDAQ:BUSE), the holding company for Busey Bank, and Mid Illinois Bancorp, Inc. (“Mid Illinois”), the holding company for South Side Trust & Savings Bank of Peoria (“South Side Bank”), today announced that the election deadline for Mid Illinois shareholders of record to make merger consideration elections in connection with the previously announced merger between Busey and Mid Illinois is 5:00 p.m., Eastern Daylight Time, on September 26, 2017. Mid Illinois shareholders may elect to receive $227.94 in cash, 7.5149 shares of Busey common stock or a combination of $68.38 in cash and 5.2604 shares of Busey common stock in exchange for each share of Mid Illinois common stock, subject to adjustment and proration as provided in the merger agreement.

    Mid Illinois shareholders who need a duplicate copy of the election form and letter of transmittal and instructions or who have questions about making an election prior to the election deadline may contact Georgeson LLC, the information agent for the merger, at (877) 278-4751.

    Busey Corporate Profile
    First Busey Corporation (NASDAQ:BUSE) is an approximately $7 billion financial holding company headquartered in Champaign, Illinois. Busey Bank, First Busey Corporation’s wholly-owned bank subsidiary, is also headquartered in Champaign, Illinois and has twenty-eight banking centers serving Illinois, thirteen banking centers in the St. Louis, Missouri metropolitan area, five banking centers serving southwest Florida and a banking center in Indianapolis, Indiana. Trevett Capital Partners, a wealth management division of Busey Bank, provides asset management, investment and fiduciary services to high net worth clients in southwest Florida. The wealth management professionals of Trevett Capital Partners can be reached through trevettcapitalpartners.com.

    Busey Bank had total assets of $5.5 billion as of June 30, 2017.

    First Community Financial Bank, First Busey Corporation’s wholly-owned bank subsidiary, is headquartered in Joliet, Illinois and has nine locations in Joliet, Plainfield, Homer Glen, Channahon, Naperville, Burr Ridge, Mazon, Braidwood, and Diamond, Illinois. 

    In addition, Busey Bank owns a retail payment processing subsidiary, FirsTech, Inc., which processes approximately 28 million transactions per year using online bill payment, lockbox processing and walk-in payments at its 3,000 agent locations in 36 states. More information about FirsTech, Inc. can be found at firstechpayments.com.

    Busey Wealth Management is a wholly-owned subsidiary of First Busey Corporation. Through Busey Trust Company, Busey Wealth Management provides asset management, investment and fiduciary services to individuals, businesses and foundations. As of June 30, 2017, Busey Wealth Management’s assets under care were approximately $5.6 billion.

    For more information about us, visit www.busey.com.

    About Mid Illinois: Mid Illinois Bancorp, Inc., headquartered in Peoria, Illinois, is a bank holding company with one bank subsidiary, South Side Trust & Savings Bank of Peoria.  Mid Illinois has 13 branches located in the Peoria MSA. Mid Illinois’ vision is to meet its customer’s needs through the delivery of high quality, personalized service better than its competition.

    Robin Elliott, CFO
    First Busey Corporation
    (217) 365-4500

    Mark Joseph, President & CEO
    Mid Illinois Bancorp, Inc.
    (309) 676-0521

    Source: First Busey Corporation