First Busey Corp Files 8-K

TL;DR

Busey Corp filed an 8-K, but no details yet.

AI Summary

First Busey Corporation filed an 8-K on December 13, 2024, to report other events. The filing does not contain specific details about the nature of these events, dollar amounts, or definitive dates beyond the filing date itself.

Why It Matters

This 8-K filing indicates that First Busey Corporation has reported an event to the SEC, which could be material to investors. However, the filing lacks specific details to assess its immediate impact.

Risk Assessment

Risk Level: low — The filing is a standard 8-K for 'Other Events' and does not contain specific financial or operational information that would immediately indicate a high risk.

Key Players & Entities

• First Busey Corporation (company) — Registrant
• Nevada (jurisdiction) — State of incorporation
• 217-365-4544 (phone_number) — Registrant's telephone number

FAQ

Key Financial Figures

• $0.001 — h registered Common Stock, par value $0.001 per share BUSE The Nasdaq Stock Mar
• $750,000 — eceived aggregate fees of approximately $750,000 from CrossFirst. Forward-Looking State

Filing Documents

• tm2430865d1_8k.htm (8-K) — 53KB
• 0001104659-24-128454.txt ( ) — 229KB
• buse-20241213.xsd (EX-101.SCH) — 3KB
• buse-20241213_lab.xml (EX-101.LAB) — 33KB
• buse-20241213_pre.xml (EX-101.PRE) — 22KB
• tm2430865d1_8k_htm.xml (XML) — 3KB

01

Item 8.01 Other Events. As previously announced, on August 26, 2024, First Busey Corporation, a Nevada corporation ("Busey"), and CrossFirst Bankshares, Inc., a Kansas corporation ("CrossFirst"), entered into an Agreement and Plan of Merger (the "Merger Agreement") pursuant to which CrossFirst will merge with and into Busey, with Busey as the surviving corporation in the merger (the "Merger"). Following the Merger, at a date and time as determined by Busey, CrossFirst Bank, a Kansas state-chartered bank and a wholly owned subsidiary of CrossFirst, will merge with and into Busey Bank, an Illinois state-chartered bank and a wholly owned subsidiary of Busey, with Busey Bank as the surviving bank. The transaction is described in more detail in Busey's Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission (the "SEC") on August 27, 2024. In connection with the proposed transaction, Busey filed a registration statement on Form S-4 (the "Registration Statement") with the SEC on October 18, 2024 and Amendment No. 1 to the Registration Statement on November 8, 2024 containing a joint proxy statement/prospectus of Busey and CrossFirst (as amended, the "joint proxy statement/prospectus"). The Registration Statement was declared effective by the SEC on November 13, 2024. On November 13, 2024, the joint proxy statement/prospectus was filed by Busey with the SEC as a definitive proxy statement/prospectus and by CrossFirst with the SEC as a definitive proxy statement on Schedule 14A, and Busey and CrossFirst first mailed the joint proxy Following the filing of the joint proxy statement/prospectus and as of the date of this Current Report on Form 8-K, purported stockholders of CrossFirst have filed two lawsuits against CrossFirst, the individual members of the CrossFirst board of directors, and/or Busey. The first lawsuit captioned Joel Zalvin v. CrossFirst Bankshare

Forward-Looking Statements

Forward-Looking Statements This Current Report on Form 8-K includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, with respect to Busey's and CrossFirst's beliefs, goals, intentions, and expectations regarding the proposed transaction, revenues, earnings, loan production, asset quality, and capital levels, among other matters; our estimates of future costs and benefits of the actions we may take; our assessments of probable losses on loans; our assessments of interest rate and other market risks; our ability to achieve our financial and other strategic goals; the expected timing of completion of the proposed transaction; the expected cost savings, synergies and other anticipated benefits from the proposed transaction; and other statements that are not historical facts.

Forward-looking statements are typically identified

Forward-looking statements are typically identified by such words as "believe," "expect," "anticipate," "plan," "intend," "outlook," "estimate," "forecast," "project," "should," "may," "will," "position," and other similar words and expressions, and are subject to numerous assumptions, risks, and uncertainties, which change over time. These forward-looking statements include, without limitation, those relating to the terms, timing and closing of the proposed transaction. Additionally, forward-looking statements speak only as of the date they are made; Busey and CrossFirst do not assume any duty, and do not undertake, to update such forward-looking statements, whether written or oral, that may be made from time to time, whether as a result of new information, future events, or otherwise. Furthermore, because forward-looking statements are subject to assumptions and uncertainties, actual results or future events could differ, possibly materially, from those indicated in such forward-looking statements as a result of a variety of factors, many of which are beyond the control of Busey and CrossFirst. Such statements are based upon the current beliefs and expectations of the management of Busey and CrossFirst and are subject to significant risks and uncertainties outside of the control of the parties. Caution should be exercised against placing undue reliance on forward-looking statements. The factors that could cause actual results to differ materially include the following: the occurrence of any event, change or other circumstances that could give rise to the right of one or both of the parties to terminate the Merger Agreement; the outcome of any legal proceedings that may be instituted against Busey or CrossFirst; the possibility that the proposed transaction will not close when expected or at all because required regulatory, stockholder or other approvals are not received or other conditions to the closing are not satisfied on a timely basis or at all, or are obtai

SIGNATURES

SIGNATURES 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. Dated: December 13, 2024 FIRST BUSEY CORPORATION By: /s/ Jeffrey D. Jones Jeffrey D. Jones Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR