CHAMPAIGN, IL (Chambana Today) – Busey Bank and CrossFirst Bank have announced a merger, expanding Busey Bank’s reach to the west and south. The combined company will operate under the Busey name, with CrossFirst expected to merge into Busey in mid-2025. CrossFirst locations will then become service centers for Busey.
CrossFirst Bank is headquartered in Leawood, Kan. and has locations in Kansas, Missouri, Oklahoma, Texas, Arizona, Colorado and New Mexico.
The merger will cause a change in leadership. CrossFirst CEO, President and Director Mike Maddox will succeed Van Dukeman as CEO of Busey. Dukeman will remain the executive chairman of both Busey and Busey Bank following Maddox’s promotion. The combined company will be led by a mix of Busey and CrossFirst executives.
The merger will extend Busey into new metropolitan markets, including Kansas City, Wichita, Dallas/Fort Worth, Denver and Phoenix. Busey Bank currently has 62 banking centers in Illinois, Missouri, Florida and Indiana.
While both companies’ boards of directors have approved the merger, completion of the deal is subject to approval by shareholders of both banks, as well as regulatory approval.