First Busey Results Presentation Deck
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4Q23 Earnings Investor Presentation
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As of 12/31/23
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Merchants and Manufacturers Bank Corp.
BUSE announced acquisition of Chicagoland-based Merchants & Manufacturers Bank Corp. during 4Q23
Pro Forma Busey + M&M
First Busey Corporation | Ticker: BUSE
Compelling
Life Equity Loan Ⓡ
Line of Business
Defensible, scalable niche as established
market leader in providing loans secured by
cash value life insurance policies and
related credit products
Enhances the unique product set offered to
Busey's well-capitalized client base
Attractive economics - strong yield (7.69%
MRQ) and no historical loss experience
Busey's strong balance sheet position and
investments in technology will enhance Life
Equity Loan capabilities and financial
outcomes
11/27/23
M&M Acquisition
Announced [8-K]
$12.7 Billion
12/18/23
Filed applications
with regulators
Actions Taken
Assets
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$8.1 Billion
Loans
Further Enhances
Key Market Profile
Complements and extends Busey's
growing Chicagoland market presence
Bolsters Busey's deposit position
among regional and community banks
to #4 in M&M's markets of operation
and #8 in the Chicago MSA ¹
1/12/24
Filed S-4
Adds presence in attractive and
commercially important Oak Brook
market
March 2024
Projected M&M
shareholder
meeting/vote
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▪ < 1.5% TBV dilution
2.0 year TBV earnback
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$10.7 Billion
Deposits
Attractive
Deal Metrics
April/May 2024
Expected legal &
financial close of
transaction
6%+ EPS accretion in 2025 & 2026;
long-term GAAP & Cash EPS accretion
of ~5.5%
Next Steps
▪ Pro Forma capital & liquidity positions
remain robust
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Deposit data as of 6/30/23 per the 2023 FDIC Summary of Deposits and excludes banks with $100 billion+ in consolidated assets | 2 Metrics as announced 11/27/23
Note: Illustrative timeline only. Subject to regulatory and shareholder approvals, and customary closing conditions.
June 2024
Anticipated bank
merger & core
system conversion
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