Acquisitions (Tables)

9 Months Ended

Sep. 30, 2018

First Community

Schedule of fair value estimates of assets acquired and liabilities assumed

The following table presents the fair value of First Community assets acquired and liabilities assumed as of July 2, 2017 (dollars in thousands):

	As Recorded by
	First Busey
Assets acquired:
Cash and cash equivalents	$	60,686
Securities		165,843
Loans held for sale		905
Portfolio loans		1,096,583
Premises and equipment		18,094
OREO		722
Other intangible assets		13,979
Other assets		41,755
Total assets acquired		1,398,567
Liabilities assumed:
Deposits		1,134,355
Other borrowings		125,751
Other liabilities		11,862
Total liabilities assumed		1,271,968
Net assets acquired	$	126,599
Consideration paid:
Cash	$	24,557
Cash payout of options and restricted stock units		6,182
Common stock		211,120
Fair value of stock options assumed		722
Total consideration paid		242,581
Goodwill	$	115,982

Schedule of unaudited pro forma results of operations for the acquisition

Only the merger related expenses that have been recognized are included in net income in the table below (dollars in thousands, except per share amount):

		Pro Forma
	Nine Months Ended
	September 30, 2017
Total revenues (net interest income plus  non-interest income)	$	231,301
Net income		56,348
Diluted earnings per common share		1.23

Mid Illinois Bancorp, Inc.

Schedule of fair value estimates of assets acquired and liabilities assumed

The following table presents the fair value of Mid Illinois assets acquired and liabilities assumed as of October 1, 2017 (dollars in thousands):

	As Recorded by
	First Busey
Assets acquired:
Cash and cash equivalents	$	39,443
Securities		208,003
Loans held for sale		5,031
Portfolio loans		356,651
Premises and equipment		16,551
Other intangible assets		11,531
Other assets		29,564
Total assets acquired		666,774
Liabilities assumed:
Deposits		505,917
Other borrowings		61,040
Other liabilities		10,497
Total liabilities assumed		577,454
Net assets acquired	$	89,320
Consideration paid:
Cash	$	40,507
Common stock		97,702
Total consideration paid		138,209
Goodwill	$	48,889