Latest news with #Busey
Yahoo
20-05-2025
- Business
- Yahoo
First Busey Corporation Closes Depositary Share Offering
LEAWOOD, Kan., May 20, 2025 (GLOBE NEWSWIRE) -- First Busey Corporation ('Busey') (Nasdaq: BUSE), the holding company for Busey Bank and CrossFirst Bank, today announced the closing of its previously announced underwritten public offering of 8,600,000 depositary shares (inclusive of 600,000 depositary shares offered in connection with the partial exercise of the underwriters' over-allotment option), each representing a 1/40th ownership interest in a share of its 8.25% Fixed Rate Series B Non-Cumulative Perpetual Preferred Stock, with a liquidation preference of $1,000 per share (equivalent to $25.00 per depositary share). As a result of the public offering, Busey received proceeds of approximately $207,477,500, net of estimated expenses and underwriting discounts and commissions. Piper Sandler & Co., Morgan Stanley & Co. LLC and Keefe, Bruyette & Woods, Inc. acted as joint bookrunning managers for the offering, and Janney Montgomery Scott LLC is acting as the co-manager. A shelf registration statement, including a prospectus, with respect to the offering was previously filed by Busey with the Securities and Exchange Commission (the 'SEC') on September 21, 2023. A prospectus supplement relating to the offering has been filed with the SEC. The offering has been made by means of a prospectus supplement and accompanying prospectus. Copies of the prospectus supplement and the accompanying prospectus relating to these securities may be obtained free of charge by visiting the SEC's website at Alternatively, Busey or any underwriter or any dealer participating in the offering will arrange to send you the prospectus supplement if you request it by emailing Piper Sandler & Co. at fsg-dcm@ or calling Morgan Stanley & Co. LLC toll-free at 1-866-718-1649 or Keefe, Bruyette & Woods, A Stifel Company at 1-800-966-1559. Corporate ProfileAs of March 31, 2025, First Busey Corporation (Nasdaq: BUSE) was a $19.46 billion financial holding company headquartered in Leawood, Kansas. Busey Bank, a wholly-owned bank subsidiary of First Busey Corporation headquartered in Champaign, Illinois, had total assets of $11.98 billion as of March 31, 2025. Busey Bank currently has 62 banking centers, with 21 in Central Illinois markets, 17 in suburban Chicago markets, 20 in the St. Louis Metropolitan Statistical Area, three in Southwest Florida, and one in Indianapolis. More information about Busey Bank can be found at CrossFirst Bank, a wholly-owned bank subsidiary of First Busey Corporation headquartered in Leawood, Kansas, had total assets of $7.45 billion as of March 31, 2025. CrossFirst Bank currently has 16 banking centers located across Arizona, Colorado, Kansas, Missouri, New Mexico, Oklahoma, and Texas. More information about CrossFirst Bank can be found at It is anticipated that CrossFirst Bank will be merged with and into Busey Bank on June 20, 2025. Through Busey Bank's Wealth Management division, Busey provides a full range of asset management, investment, brokerage, fiduciary, philanthropic advisory, tax preparation, and farm management services to individuals, businesses, and foundations. Assets under care totaled $13.68 billion as of March 31, 2025. More information about Busey's Wealth Management services can be found at Busey Bank's wholly-owned subsidiary, FirsTech, Inc. ('FirsTech') specializes in the evolving financial technology needs of small and medium-sized businesses, highly regulated enterprise industries, and financial institutions. FirsTech provides comprehensive and innovative payment technology solutions, including online, mobile, and voice-recognition bill payments; money and data movement; merchant services; direct debit services; lockbox remittance processing for payments made by mail; and walk-in payments at retail agents. Additionally, FirsTech simplifies client workflows through integrations enabling support with billing, reconciliation, bill reminders, and treasury services. More information about FirsTech can be found at For the fourth consecutive year, Busey was named among 2025's America's Best Banks by Forbes. Ranked 88th overall, Busey was one of seven banks headquartered in Illinois included on this year's list. Busey was also named among the 2024 Best Banks to Work For by American Banker, the 2024 Best Places to Work in Money Management by Pensions and Investments, the 2024 Best Places to Work in Illinois by Daily Herald Business Ledger, the 2025 Best Places to Work in Indiana by the Indiana Chamber of Commerce, and the 2024 Best Companies to Work For in Florida by Florida Trend magazine. We are honored to be consistently recognized globally, nationally and locally for our engaged culture of integrity and commitment to community development. First Busey Corporation Contacts For Financials: For Media: Scott Phillips, Interim CFO Amy L. Randolph, EVP & COO First Busey Corporation First Busey Corporation (239) 689-7167 (217) 365-4049 This press release may contain 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995 with respect to Busey's financial condition, results of operations, plans, objectives, future performance, and business. Forward-looking statements, which may be based upon beliefs, expectations, and assumptions of Busey's management and on information currently available to management, are generally identifiable by the use of words such as 'believe,' 'expect,' 'anticipate,' 'plan,' 'intend,' 'estimate,' 'may,' 'will,' 'would,' 'could,' 'should,' 'position,' or other similar expressions. Additionally, all statements in this document, including forward-looking statements, speak only as of the date they are made, and Busey undertakes no obligation to update any statement in light of new information or future events. A number of factors, many of which are beyond Busey's ability to control or predict, could cause actual results to differ materially from those in any forward-looking statements. These factors include, among others, the following: (1) the strength of the local, state, national, and international economies and financial markets (including effects of inflationary pressures, the threat or implementation of tariffs, trade wars, and changes to immigration policy); (2) changes in, and the interpretation and prioritization of, local, state, and federal laws, regulations, and governmental policies (including those concerning Busey's general business); (3) the economic impact of any future terrorist threats or attacks, widespread disease or pandemics, or other adverse external events that could cause economic deterioration or instability in credit markets (including Russia's invasion of Ukraine and the conflict in the Middle East); (4) unexpected results of acquisitions, including the acquisition of CrossFirst, which may include the failure to realize the anticipated benefits of the acquisitions and the possibility that the transaction and integration costs may be greater than anticipated; (5) the imposition of tariffs or other governmental policies impacting the value of products produced by Busey's commercial borrowers; (6) new or revised accounting policies and practices as may be adopted by state and federal regulatory banking agencies, the Financial Accounting Standards Board, the Securities and Exchange Commission, or the Public Company Accounting Oversight Board; (7) changes in interest rates and prepayment rates of Busey's assets (including the impact of sustained elevated interest rates); (8) increased competition in the financial services sector (including from non-bank competitors such as credit unions and fintech companies) and the inability to attract new customers; (9) changes in technology and the ability to develop and maintain secure and reliable electronic systems; (10) the loss of key executives or associates, talent shortages, and employee turnover; (11) unexpected outcomes and costs of existing or new litigation, investigations, or other legal proceedings, inquiries, and regulatory actions involving Busey (including with respect to Busey's Illinois franchise taxes); (12) fluctuations in the value of securities held in Busey's securities portfolio, including as a result of changes in interest rates; (13) credit risk and risk from concentrations (by type of borrower, geographic area, collateral, and industry), within Busey's loan portfolio and large loans to certain borrowers (including commercial real estate loans); (14) the concentration of large deposits from certain clients who have balances above current Federal Deposit Insurance Corporation insurance limits and may withdraw deposits to diversify their exposure; (15) the level of non-performing assets on Busey's balance sheets; (16) interruptions involving information technology and communications systems or third-party servicers; (17) breaches or failures of information security controls or cybersecurity-related incidents; (18) the economic impact on Busey and its customers of climate change, natural disasters, and exceptional weather occurrences such as tornadoes, hurricanes, floods, blizzards, and droughts; (19) the ability to successfully manage liquidity risk, which may increase dependence on non-core funding sources such as brokered deposits, and may negatively impact Busey's cost of funds; (20) the ability to maintain an adequate level of allowance for credit losses on loans; (21) the effectiveness of Busey's risk management framework; and (22) the ability of Busey to manage the risks associated with the foregoing. These risks and uncertainties should be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements.
Yahoo
14-05-2025
- Business
- Yahoo
First Busey Corporation Prices Depositary Share Offering
LEAWOOD, Kan., May 14, 2025 (GLOBE NEWSWIRE) -- First Busey Corporation ('Busey') (Nasdaq: BUSE), the holding company for Busey Bank and CrossFirst Bank, announced the pricing of an underwritten public offering of 8,000,000 depositary shares, each representing a 1/40th ownership interest in a share of its 8.25% Fixed Rate Series B Non-Cumulative Perpetual Preferred Stock (the 'Series B preferred stock'), with a liquidation preference of $1,000 per share (equivalent to $25.00 per depositary share). When, as, and if declared by the board of directors of Busey, dividends will be payable on the Series B preferred stock from the date of issuance at a rate of 8.25% per annum, payable quarterly in arrears, on March 1, June 1, September 1 and December 1 of each year, beginning on September 1, 2025. Busey may redeem the Series B preferred stock at its option at a redemption price equal to $25.00 per depositary share, as described in the prospectus supplement and accompanying prospectus relating to the offering. 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 including to support balance sheet growth of Busey Bank. Busey intends to apply to list the depositary shares on the Nasdaq Global Select Market under the symbol 'BUSEP.' Piper Sandler & Co., Morgan Stanley & Co. LLC and Keefe, Bruyette & Woods, Inc. are serving as joint bookrunning managers for the offering, and Janney Montgomery Scott LLC is acting as the co-manager. The Company expects to close the offering, subject to customary conditions, on or about May 20, 2025. The Company filed a 'shelf' registration statement (File No. 333-274620) (including a base prospectus (the 'Base Prospectus')) on September 21, 2023 and the related preliminary prospectus supplement on May 13, 2025 (the 'Preliminary Prospectus Supplement') with the Securities and Exchange Commission ('SEC') for the offering to which this communication relates. You may obtain these documents for free by visiting EDGAR on the SEC's website at Alternatively, Busey, any underwriter or any dealer participating in the offering will arrange to send you the Base Prospectus and the Preliminary Prospectus Supplement if you request it by emailing Piper Sandler & Co. at fsg-dcm@ or calling Morgan Stanley & Co. LLC toll-free at 1-866-718-1649 or Keefe, Bruyette & Woods, A Stifel Company at 1-800-966-1559. This news release shall not constitute an offer to sell, or the solicitation of an offer to buy any securities, nor shall there be any offer or sale of these securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Corporate ProfileAs of March 31, 2025, First Busey Corporation (Nasdaq: BUSE) was a $19.46 billion financial holding company headquartered in Leawood, Bank, a wholly-owned bank subsidiary of First Busey Corporation headquartered in Champaign, Illinois, had total assets of $11.98 billion as of March 31, 2025. Busey Bank currently has 62 banking centers, with 21 in Central Illinois markets, 17 in suburban Chicago markets, 20 in the St. Louis Metropolitan Statistical Area, three in Southwest Florida, and one in Indianapolis. More information about Busey Bank can be found at CrossFirst Bank, a wholly-owned bank subsidiary of First Busey Corporation headquartered in Leawood, Kansas, had total assets of $7.45 billion as of March 31, 2025. CrossFirst Bank currently has 16 banking centers located across Arizona, Colorado, Kansas, Missouri, New Mexico, Oklahoma, and Texas. More information about CrossFirst Bank can be found at It is anticipated that CrossFirst Bank will be merged with and into Busey Bank on June 20, Busey's Wealth Management division, the Company provides a full range of asset management, investment, brokerage, fiduciary, philanthropic advisory, tax preparation, and farm management services to individuals, businesses, and foundations. Assets under care totaled $13.68 billion as of March 31, 2025. More information about Busey's Wealth Management services can be found at Busey Bank's wholly-owned subsidiary, FirsTech, specializes in the evolving financial technology needs of small and medium-sized businesses, highly regulated enterprise industries, and financial institutions. FirsTech provides comprehensive and innovative payment technology solutions, including online, mobile, and voice-recognition bill payments; money and data movement; merchant services; direct debit services; lockbox remittance processing for payments made by mail; and walk-in payments at retail agents. Additionally, FirsTech simplifies client workflows through integrations enabling support with billing, reconciliation, bill reminders, and treasury services. More information about FirsTech can be found at the fourth consecutive year, Busey was named among 2025's America's Best Banks by Forbes. Ranked 88th overall, Busey was one of seven banks headquartered in Illinois included on this year's list. Busey was also named among the 2024 Best Banks to Work For by American Banker, the 2024 Best Places to Work in Money Management by Pensions and Investments, the 2024 Best Places to Work in Illinois by Daily Herald Business Ledger, the 2025 Best Places to Work in Indiana by the Indiana Chamber of Commerce, and the 2024 Best Companies to Work For in Florida by Florida Trend magazine. We are honored to be consistently recognized globally, nationally and locally for our engaged culture of integrity and commitment to community development. First Busey Corporation Contacts For Financials: For Media: Scott Phillips, Interim CFO Amy L. Randolph, EVP & COO First Busey Corporation First Busey Corporation (239) 689-7167 (217) 365-4049 This press release may contain 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995 with respect to Busey's financial condition, results of operations, plans, objectives, future performance, and business. Forward-looking statements, which may be based upon beliefs, expectations, and assumptions of Busey's management and on information currently available to management, are generally identifiable by the use of words such as 'believe,' 'expect,' 'anticipate,' 'plan,' 'intend,' 'estimate,' 'may,' 'will,' 'would,' 'could,' 'should,' 'position,' or other similar expressions. Additionally, all statements in this document, including forward-looking statements, speak only as of the date they are made, and Busey undertakes no obligation to update any statement in light of new information or future events. A number of factors, many of which are beyond Busey's ability to control or predict, could cause actual results to differ materially from those in any forward-looking statements. These factors include, among others, the following: (1) the strength of the local, state, national, and international economies and financial markets (including effects of inflationary pressures, the threat or implementation of tariffs, trade wars, and changes to immigration policy); (2) changes in, and the interpretation and prioritization of, local, state, and federal laws, regulations, and governmental policies (including those concerning Busey's general business); (3) the economic impact of any future terrorist threats or attacks, widespread disease or pandemics, or other adverse external events that could cause economic deterioration or instability in credit markets (including Russia's invasion of Ukraine and the conflict in the Middle East); (4) unexpected results of acquisitions, including the acquisition of CrossFirst Bankshares, Inc., which may include the failure to realize the anticipated benefits of the acquisitions and the possibility that the transaction and integration costs may be greater than anticipated; (5) the imposition of tariffs or other governmental policies impacting the value of products produced by Busey's commercial borrowers; (6) new or revised accounting policies and practices as may be adopted by state and federal regulatory banking agencies, the Financial Accounting Standards Board, the Securities and Exchange Commission, or the Public Company Accounting Oversight Board; (7) changes in interest rates and prepayment rates of Busey's assets (including the impact of sustained elevated interest rates); (8) increased competition in the financial services sector (including from non-bank competitors such as credit unions and fintech companies) and the inability to attract new customers; (9) changes in technology and the ability to develop and maintain secure and reliable electronic systems; (10) the loss of key executives or associates, talent shortages, and employee turnover; (11) unexpected outcomes and costs of existing or new litigation, investigations, or other legal proceedings, inquiries, and regulatory actions involving Busey (including with respect to Busey's Illinois franchise taxes); (12) fluctuations in the value of securities held in Busey's securities portfolio, including as a result of changes in interest rates; (13) credit risk and risk from concentrations (by type of borrower, geographic area, collateral, and industry), within Busey's loan portfolio and large loans to certain borrowers (including commercial real estate loans); (14) the concentration of large deposits from certain clients who have balances above current Federal Deposit Insurance Corporation insurance limits and may withdraw deposits to diversify their exposure; (15) the level of non-performing assets on Busey's balance sheets; (16) interruptions involving information technology and communications systems or third-party servicers; (17) breaches or failures of information security controls or cybersecurity-related incidents; (18) the economic impact on Busey and its customers of climate change, natural disasters, and exceptional weather occurrences such as tornadoes, hurricanes, floods, blizzards, and droughts; (19) the ability to successfully manage liquidity risk, which may increase dependence on non-core funding sources such as brokered deposits, and may negatively impact Busey's cost of funds; (20) the ability to maintain an adequate level of allowance for credit losses on loans; (21) the effectiveness of Busey's risk management framework; and (22) the ability of Busey to manage the risks associated with the foregoing. These risks and uncertainties should be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements.
Yahoo
03-04-2025
- Entertainment
- Yahoo
Gary Busey legal troubles continue over claims from the 2022 Monster-Mania in Cherry Hill
When several women claimed Gary Busey sexually harassed them in Cherry Hill in 2022, the actor denied wrongdoing and asked police officers to relay his apologies to his accusers, a court record says. But two of the women are still waiting to hear from the Hollywood star — in response to a lawsuit they filed against him last year. Busey, 80, is accused of grabbing the buttocks at least two female fans during a photo shoot at a Monster-Mania convention, according to a probable cause statement for criminal charges against him. Conviction upheld: Man who killed at age 15 loses court challenge He also allegedly placed his face near another woman's breast and 'asked her where she got them, before attempting to unlatch her bra strap,' the statement claims. When contacted by police over the women's accusations, the statement says, Busey 'initially denied groping anyone before asking detectives to apologize to the victims, then asking detectives to talk the victims out of pursuing complaints." It alleges he also told police 'that sometimes it is possible to accidentally touch someone in a specific body part.' Busey, a resident of Malibu, appeared by video in a Camden courtroom for a March 24 hearing on the criminal charges. Through an attorney he pleaded not guilty to five counts of criminal sexual contact and noted a pending application for pre-trial intervention. But court records show Busey has not answered the women's civil suit, which was filed in Camden Superior Court in August 2024. The women, identified only as New York residents J.E. and A.D., allege that they were 'sexually, emotionally and psychologically abused' by Busey. It contends the actor 'also sexually assaulted additional individuals' at the show in August 2022. Busey, an Oscar nominee for the title role in The Buddy Holly Story in 1979, came to Cherry Hill for Monster-Mania, a weekend convention intended particularly for fans of horror films. The event typically draws a free-spirited crowd, with many participants in macabre costumes. Notice of the suit was served Sept. 4, 2024, to the actor's address, where it was accepted by his son, actor Jake Busey, a court record says. The women's attorney, Christine Lafferty of Cherry Hill, on Nov. 11 asked Superior Court Judge Michael Kassel to enter a finding of default against Busey 'for failure to plead or otherwise defend.' Kassel on Nov. 18 entered a default order, which could still be lifted if Busey engages in the suit. Busey's attorney for the criminal case, Blair Zwillman of Morristown, said he has no role in the civil litigation. Among other claims, the suit asserts the women were 'targeted, coerced and sexually assaulted as a result of being female.' It seeks unspecified damages, as well as recovery of the women's legal costs. 'It's not surprising that Mr. Busey has not answered the complaint,' Lafferty said Monday. 'At every turn, Mr. Busey has shirked his responsibilities to answer for his actions. We will not allow his inaction to thwart our client's pursuit of justice,' she added. The suit also names Monster-Mania, its operator David Hagan of Mays Landing and ownership of the Doubletree Hilton as defendants. They have denied wrongdoing. The suit asserts that Busey was a Monster-Mania employee during the weekend event. It says the show's organizer and the hotel failed to protect the women. J.E. and A.D. called Cherry Hill police to the Route 70 hotel after finding no one at the show to assist them, according to the suit. The father of another female fan called Cherry Hill police the next day to report that his daughter claimed Busey had groped her. Jim Walsh is a senior reporter for the Courier-Post, Burlington County Times and The Daily Journal. Email: Jwalsh@ This article originally appeared on Cherry Hill Courier-Post: Gary Busey is accused of criminal sexual contact involving female fans
Yahoo
28-03-2025
- Business
- Yahoo
Pierce County police chief who ‘built lasting trust within the community' set to retire
Gig Harbor Police Chief Kelly Busey will retire June 23 after a career of more than 30 years in law enforcement, the city of Gig Harbor announced in a news release Thursday. Overseeing a department of 24 commissioned officers and three administrative staff, Busey stepped into the role of chief in 2014. He started out as an entry-level police officer for the Gig Harbor Police Department in 1991 after working for the Coast Guard, according to the release. 'Chief Busey has been an exemplary leader, providing steadfast service and commitment to the safety of our residents,' Mayor Mary Barber said in the release. 'His leadership has strengthened our Police Department and built lasting trust within the community.' According to the release, Busey's contributed his expertise in investigations, marine-services operations and communications to the department. The city also thanked him for his 'leadership, operational planning, management, technical writing, and crisis communications.' Under Busey's leadership, the Gig Harbor Police Department became accredited by the Washington Association of Sheriffs and Police Chiefs on March 18 after an 18-month process, according to a city department update. According to the WASPC website, accreditation is an optional distinction that shows an agency is following 'industry best practices and standards,' focusing on 18 different areas, including use of force, personnel management, records management, information technology, health and safety, fiscal management and more. The process culminates with an on-site inspection. 'Our department learned about ourselves and improved in certain areas,' Busey wrote in the city newsletter March 19. 'It was also good to know that we have largely been doing things the proper way even before the process started ... Most importantly, our residents and businesses can be assured that we are doing our job in an efficient, legal, and transparent manner.' The department will receive an accreditation certificate in May, according to the city newsletter. Busey also oversaw the launch of the department's Business Check program in 2021 to help curb retail theft in Gig Harbor, The News Tribune reported. Larceny-theft offenses were the city's top crime incident in 2023, at 26.8 incidents per 1,000 people, according to the most recent statewide crime report from the Washington Association of Sheriffs and Police Chiefs. The program gave retail store employees a way to call police for a 'Business Check' if they noticed suspicious activity, without having to confirm whether someone was shoplifting and risk making a false accusation. More recently, Busey explored the option of contracting with Flock Safety to install 10 automated license-plate readers in Gig Harbor after he learned a City Council member was interested in what technologies the department could leverage. He also led the department in securing a grant from the Washington Auto Theft Prevention Authority to pay for the cameras' installation and one year of operation. The cameras don't issue speeding tickets but help law enforcement agencies more easily track stolen vehicles, locate missing people and solve other crimes. Busey made a formal presentation to the council Monday, but the council voted against a contract with Flock following several residents' public comments opposing it, The News Tribune reported. The city is planning a retirement reception for Busey near the end of June and will release the date and other details soon, the release said.
Yahoo
24-03-2025
- Entertainment
- Yahoo
Gary Busey appears in court over 2022 sexual misconduct charges at Cherry Hill movie convention
CAMDEN, N.J. - Actor Gary Busey appeared in a Camden County court on Monday to face sexual misconduct charges stemming from August 2022. Three women accused the 80-year-old actor of groping them at the MonsterMania movie convention at the Double Tree Hotel in Cherry Hill. What we know According to court documents, three victims came forward, including two women who called police from the event held at the DoubleTree Hotel in Cherry Hill. The victims reported that they were in a photo shoot area taking pictures with Busey when the sexual misconduct happened. One of the women told police that Busey put his face near her breasts and asked her "where she got them" before attempting to unlatch her bra strap. The second victim alleged that Busey grabbed her backside while taking a photo. The Cherry Hill Police Department reported that it received a third claim against Busey from the father of a victim. He alleged that Busey grabbed his daughter's backside while taking a photo. When authorities made contact with Busey about the allegations, court documents show he initially denied groping the women, then asked detectives to apologize to the victims. He also requested police attempt to talk the victims out of pursuing complaints. Police allege Busey tried to tell the officers that the unwanted touching may have been accidental, according to the documents. What they're saying According to court documents, three victims have come forward, including two women who called police from the event held at the DoubleTree Hotel in Cherry Hill. The victims reported that they were in a photo shoot area taking pictures with Busey when the sexual misconduct happened. One of the women told police that Busey put his face near her breasts and asked her "where she got them" before attempting to unlatch her bra strap. The second victim alleged that Busey grabbed her backside while taking a photo. The Associated Press contributed to this report
