Busey To Acquire Herget Financial - Quick Facts

(RTTNews) - First Busey Corp. (BUSE), the holding company for Busey Bank, and Herget Financial Corp., the holding company for Herget Bank, National Association, jointly announced signing of a definitive agreement pursuant to which Busey will acquire Herget Financial through a merger transaction and Herget will be merged into Busey Bank.

The transaction is expected to close in late 2014 or early 2015.

Herget, headquartered in Pekin, Illinois, has total assets of about $274 million as of June 30, 2014.

"The merger with Herget allows us to further increase our presence in the Pekin and greater Peoria market through a proven organization that has a one-hundred year history of providing premier customer service to diverse industry sectors," said Van Dukeman, President and Chief Executive Officer of First Busey.

Charles "Skip" Schermerhorn, President and Chief Executive Officer of Herget, will continue to serve the Pekin community in a leadership role.