CFB News & Events

Option delistings effective March 4th include Premier Financial (PFC) and CrossFirst Bankshares (CFB).

First Busey Corporation (BUSE) announced the completion of its acquisition by merger of CrossFirst Bankshares (CFB), the holding company for CrossFirst Bank, effective March 1, 2025. The transaction was previously jointly announced on August 27, 2024. Busey will operate CrossFirst Bank as a separate banking subsidiary of Busey until it is merged with Busey Bank, which is expected to occur in June 2025. At the time of the bank merger, CrossFirst Bank's banking centers will become branches of Busey Bank and operate under the Busey brand, creating a premier full-service commercial bank serving clients from 77 locations across 10 states with combined total assets of approximately $20 billion, $17 billion in total deposits, $15 billion in total loans and $14 billion in wealth assets under care. The holding company will be headquartered in Leawood, Kansas in the Kansas City metro area, which is central to the combined footprint. Busey Bank's headquarters will remain in Champaign, Illinois.

First Busey (BUSE) on Friday announced the departure of CFO Jeff Jones, and while the departure wasn't related to any disagreements relating to the company's financials, operations, policies or practices, or the pending acquisition of CrossFirst (CFB), Jones' exit was "very surprising," Piper Sandler tells investors in a research note. The firm, which has an Overweight rating and $28 price target on the stock, notes that Jones was to remain CFO of the combined Busey-CrossFirst entity and was "enthusiastic" for the deal.

Reports Q4 revenue $68.9M, consensus $67.5M. Reports Q4 tangible book value per share $14.97. Reports Q4 net charge-offs.10%. Reports Q4 CET1 capital ratio 11%. The company said, "We're excited to have achieved record earnings for the quarter and the year as we approach the next steps in our transformational merger," said Mike Maddox, CrossFirst CEO, president and director. "Our team continues to deliver extraordinary service to our customers, and with the receipt of regulatory approval, we are well on our way to joining Busey in a partnership that is an ideal fit for our teams and will allow us to provide even more products, services and expertise to our customers and communities."