First Busey Corporation Prices Depositary Share Offering

Core Viewpoint - First Busey Corporation is conducting a public offering of 8,000,000 depositary shares representing a 1/40th ownership interest in its 8.25% Fixed Rate Series B Non-Cumulative Perpetual Preferred Stock, with a liquidation preference of $1,000 per share [1][2] Group 1: Offering Details - The Series B preferred stock will pay dividends at a rate of 8.25% per annum, payable quarterly starting September 1, 2025 [2] - The net proceeds from the offering are expected to be used to redeem Busey's 5.25% Fixed-to-Floating Rate Subordinated Notes due 2030 and for general corporate purposes [3] - The offering is expected to close on or about May 20, 2025, subject to customary conditions [4] Group 2: Corporate Profile - As of March 31, 2025, First Busey Corporation is a $19.46 billion financial holding company headquartered in Leawood, Kansas [7] - Busey Bank, a wholly-owned subsidiary, had total assets of $11.98 billion and operates 62 banking centers [8] - CrossFirst Bank, another wholly-owned subsidiary, had total assets of $7.45 billion and is expected to merge with Busey Bank on June 20, 2025 [9] Group 3: Wealth Management and Technology Services - Busey's Wealth Management division manages assets totaling $13.68 billion as of March 31, 2025, offering a range of financial services [10] - FirsTech, a subsidiary of Busey Bank, specializes in financial technology solutions for small and medium-sized businesses, providing various payment technology services [11] Group 4: Recognition and Awards - Busey was named among 2025's America's Best Banks by Forbes, ranking 88th overall, and received multiple accolades for being a great workplace [12]