Merchants and Manufacturers Bank Corporation Acquisition

First Busey Corporation announced the completion of its acquisition of Merchants and Manufacturers Bank Corporation, the holding company for Merchants & Manufacturers (M&M) Bank, effective April 1, 2024. This transaction was previously announced on November 27, 2023.

Busey will operate M&M Bank as a separate banking subsidiary of Busey until it is merged with Busey Bank, which is expected to occur in June 2024. At the time of the bank merger, M&M Bank banking centers will become branches of Busey Bank.

First Busey Chairman and Chief Executive Officer Van A. Dukeman said, “Through this partnership, Busey and M&M will advance our community banking culture through our shared, longstanding commitments to supporting our associates, customers and communities. Our combined franchise benefits our clients through enhanced capabilities and products, including M&M’s Life Equity Loan® product, while a growing, dynamic organization presents more professional growth opportunities for associates.”

Founded in 1969, M&M Bank was based in Joliet, Illinois, and operated five locations in DuPage and Will Counties. Both companies support and value an engaged and empowered associate base, partnering to offer over 200 years of combined experience and building vibrant, active communities for generations.

M&M Chief Executive Officer and Director Brad W. Butler shared, “Thanks to talented associates, both Busey and M&M have proven successful in providing premier customer service while building and maintaining strong generational relationships with those we serve. We are thrilled M&M Bank customers will continue to experience service excellence with the bankers they know and trust, while benefiting from expanded banking products and Busey’s extensive service center footprint across Illinois, Missouri, Florida and Indiana.”