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- First Busey and CrossFirst Announce $916.8 Million Merger Agreement
First Busey and CrossFirst Announce $916.8 Million Merger Agreement
Slice of Finance Team
04 Sep
Key Highlights:
First Busey to acquire CrossFirst in a $916.8 million all-stock transaction.
Combined entity will operate under Busey brand with $20 billion in total assets.
Partnership strengthens presence in high-growth markets and wealth management.
Projected 20% earnings per share accretion in 2026 for Busey.
Source (Globe Newswire)
Notable Quotes:
"The partnership between our high-quality franchises is a great fit from a strategic, financial, and cultural perspective."
"We believe Busey is the right partner to continue CrossFirst’s customer- and community-focus."
Our Take:
The Busey-CrossFirst merger highlights the ongoing consolidation in the banking industry, creating a robust platform in key growth markets like Dallas, Phoenix, and Denver. By merging complementary banking models and expanding wealth management and payment solutions, the new Busey entity will be positioned to capitalize on future growth opportunities while maintaining its community bank values. Expected financial benefits, including a 20% earnings boost in 2026, underline the strategic importance of this merger in enhancing shareholder value.