First Busey to buy M&M Bank in Illinois

The $12.3 billion-asset First Busey in Champaign, Illinois, said in a press release that it will pay $41.6 million in cash and stock for the $473 million-asset Merchants and Manufacturers Bank in Oakbrook Terrace, Illinois. The deal is expected to close in the second quarter.

M&A News is reported by Paul Davis and reprinted with permission as an adaptation of the material from TheBankSlate.com.

This article has been updated.

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