First Busey Corp And CrossFirst Bankshares Announced A Merger Agreement For Crossfirst To Merge Into Busey In An All-Stock Transaction Valued At $916.8M, Creating A Combined Entity With Around $20B In Assets, $17BIn Deposits, And $13B In Wealth Management Assets Under Care As Of August 26, 2024
Portfolio Pulse from Benzinga Newsdesk
First Busey Corporation and CrossFirst Bankshares have announced a merger agreement where CrossFirst will merge into Busey in an all-stock transaction valued at $916.8 million. The combined entity will have around $20 billion in assets, $17 billion in deposits, and $13 billion in wealth management assets.
August 27, 2024 | 12:04 pm
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POSITIVE IMPACT
First Busey Corporation is merging with CrossFirst Bankshares in a $916.8 million all-stock transaction, significantly increasing its assets, deposits, and wealth management assets.
The merger will significantly increase Busey's scale and market presence, likely leading to positive investor sentiment and a potential short-term stock price increase.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
CrossFirst Bankshares will merge into First Busey Corporation in an all-stock transaction valued at $916.8 million, resulting in a larger combined entity.
The merger provides CrossFirst shareholders with a stake in a larger, more diversified entity, which could be seen as beneficial, potentially leading to a positive short-term impact on the stock price.
CONFIDENCE 95
IMPORTANCE 85
RELEVANCE 100