The Department of Justice has announced that First Busey Corporation and Main Street Trust Inc. have agreed to sell five branch offices with approximately $110 million in deposits in Champaign County, Ill., in order to resolve antitrust concerns about the companies' pending merger. After an investigation, the Department concluded that without the divestitures the merger likely would adversely affect competition in the local markets for commercial banking and retail banking services. The proposed merger will combine two major local banks based in central Illinois, Busey Bank of Urbana and Main Street Bank & Trust of Champaign. The merged bank will have approximately $3.6 billion in assets and $2.7 billion in total deposits.

Press release