First Busey Corporation 8.25% Series B Non-Cumulative Perpetual Preferred Stock, Depositary Shares, each representing a 1/40th interest in a share

First Busey Corporation 8.25% Perpetual Preferred Stock is a fixed rate, non-cumulative, perpetual preferred security issued via depositary shares, each representing a 1/40th interest in a share of Series B Preferred Stock. This asset is designed to provide investors with a fixed annual dividend rate of 8.25%, paid quarterly if and when declared by the company’s board of directors, with the initial payment scheduled for September 1, 2025. The preferred stock carries a liquidation preference of $25 per depositary share, offering seniority over common equity in the event of liquidation, but without voting rights except under limited circumstances. Notably, First Busey Corporation retains the option to redeem these shares at $25 per depositary share, subject to certain conditions. The capital raised through this offering supports the company’s strategic initiatives, including the redemption of existing subordinated notes and strengthening its capital base, especially in light of recent growth through mergers and balance sheet expansion. As a financial holding company, First Busey Corporation is leveraging this preferred stock to optimize its capital structure and enhance regulatory capital resilience within the broader banking sector.