First Busey in Leawood, Kan., parted ways with its president.
The company disclosed in a regulatory filing that Michael Maddox had also stepped down as its vice chairman and as president and CEO of its bank. He also resigned from the company’s board.
Maddox, who was president and CEO of CrossFirst Bankshares, will receive nearly $4.4 million in cash severance, representing the base salary and annual bonuses he would have earned through the third anniversary of Busey’s purchase of CrossFirst. Buset bought CrossFirst in March 2025.
Maddox will also receive nearly $4.2 million in cash, representing the unvested portion of his retention award granted pursuant to an agreement signed in August 2024.
Van Dukeman, the company’s CEO, was named president and bank CEO, while T. Anthony Hammond, who was president of regional banking, became bank president.