Barack Ferrazzano Represents First Busey Corporation in Acquisition of Herget Financial Corporation
The Barack Ferrazzano Financial Institutions Group acted as legal counsel for First Busey Corporation (Nasdaq:BUSE), the holding company for Busey Bank, in the completion of its acquisition of Herget Financial Corporation ("Herget Financial"), the holding company for Herget Bank, National Association ("Herget"). Under the terms of the definitive agreement, First Busey acquired 100% of Herget Financial's outstanding common stock for aggregate cash consideration of $34.1 million. Busey will operate Herget as a separate banking subsidiary of Busey until it is merged with Busey Bank, which is expected to occur in the late first quarter of 2015. Barack Ferrazzano's legal team was led by Robert M. Fleetwood, along with Abdul R. Mitha, John E. Freechack and Donald L. Norman Jr.
First Busey Corporation is a $3.5 billion financial holding company headquartered in Champaign, Illinois. Busey Bank, First Busey Corporation's wholly-owned bank subsidiary, is also headquartered in Champaign, Illinois and has twenty-eight banking centers serving Illinois, a banking center in Indianapolis, Indiana, and seven banking centers serving southwest Florida.