DOJ Blesses Bank Merger With Asset Sale

Law360, New York (June 12, 2007, 12:00 AM EDT) -- The U.S. Department of Justice has given the green light to the merger of two banks in central Illinois, so long as they sell off five branch offices that hold about $110 million in deposits.

The divestiture, the DOJ said Tuesday, will eliminate antitrust concerns about the merger of First Busey Corp. and Main Street Trust Inc. The merged bank will have approximately $3.6 billion in assets and $2.7 billion in total deposits, the DOJ said.

“After an investigation, the Department concluded that without the divestitures...
To view the full article, register now.