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The $3.8 billion-asset First Busey said in a press release Thursday that it will pay $210.7 million, or $17.24 a share, in stock for the $1.5 billion-asset Pulaski.
December 3 -
Three banks have redeemed shares of preferred stock to make their exits from the Small Business Lending Fund.
December 18 -
The Illinois company has lined up two small acquisitions near Chicago to surpass $10 billion in assets, a mark that brings added regulatory oversight. As a result, analysts expect First Midwest to string together more deals in 2016 to increase revenue and improve efficiency.
November 12
First Busey Corp. in Champaign, Ill., has exited the Small Business Lending Fund.
The $3.9 billion-asset holding company for Busey Bank redeemed all its remaining shares in the program at a total redemption price of about $72.8 million, according to a Tuesday regulatory filing. The transaction closed on Dec. 18.
First Busey issued the shares to the Treasury Department in August 2011.
A number of banks have been eager to leave the SBLF before its dividend rate increases to 9%.
