Transaction Bank

Champaign, Illinois is home to First Busey Corporation, a financial holding company.

The Company's Past [ edit ]

The origins of what is now known as Busey Bank can be traced back to 1868, when Samuel Busey, along with two others, founded the Busey Brothers and Company Bank. Busey is the premier provider of banking and financial services in Illinois, Indiana, and south-western Florida. Read on for some fascinating insights into Busey's past!

On January 13, 1868, Busey Brothers & Company Bank opens for business in Urbana, a young county seat of about 2,000 people. Earnings for the investors came to ,555. In the first day, 60

After obtaining its state charter in 1913, the bank changed its name to Busey State Bank.

The Shelby Loan & Trust Company of Shelbyville, Illinois, receives trust authority in 1922.

The Pulaski Building and Loan Association is officially launched to serve the St. St. Louis neighborhood with putting away money and buying houses

Farm Management Services Begin Operation in 1926

The Busey State Bank became an FDIC member in 1935. Bank deposits were not lost despite the bank's survival through the stock market crash and the Great Depression.

On September 1, 1945, one day before the end of World War II, the bank received its federal charter and changed its name to Busey First National Bank.

Trevett-Mattis, a Champaign institution for a century, rebranded as Bank of Illinois in 1963.

On its 100th birthday in 1968, Busey First National Bank reported assets of more than $34 million.

In 1971, a new owner took over the helm at Busy First National Bank. This marks the first time that someone other than a member of the Busey family has held control of the bank.

Busey started the annual Sweetcorn Festival in Champaign-Urbana back in 1975, and it has been going strong ever since.

In 1980, the Busey First National Bank established First Busey Corporation as a bank holding company.

FirsTech, Inc., 1984 opens to provide large utility companies with lockbox processing services

In 1987, Busey Bank, a state-chartered financial institution, was formed from the merger of Busey First National Bank, Champaign County Bank & Trust, and City Bank.

The Pulaski Building and Loan Association changed its name in 1991 to Pulaski Bank to better reflect the breadth of the banking services it provides to the general public.

Busey Bank has been in operation since 1893, so 1993 marks their 125th anniversary. Busey Bank is one of the largest banks headquartered in East Central Illinois, with 5 million in assets and $53 million in stockholders' equity.

Trevett-Mattis merged with Champaign National Bank in 1995, changing its name to BankIllinois while retaining the former.

Founded in 1997, Busey Ebank is the first fully electronic bank.

First Busey Corporation stock (symbol: BUSE) has been listed on the NASDAQ since 1998.

In order to better meet the needs of the people of Indianapolis, Busey Bank has opened a loan production office there.

Stocks of Pulaski Financial Corp and First Busey Corp (respectively, PULB and BUSE on NASDAQ) Brokerage services for the agricultural sector are up and running.

In 1999, Busey bought Eagle Bank Group, which included the First Federal Savings and Loan in Bloomington, continuing its growth in McLean County.

For the first time in its history, First Busey Corporation's total assets are greater than $1 billion.

Year 2000: Main Street Trust, Inc. BankIllinois Financial Corporation and First Decatur Bancshares, Inc. have merged to form this new company. Main Street is the parent company of BankIllinois, First National Bank of Decatur, First Trust Bank of Shelbyville, and FirsTech, Inc., and operates 19 banking centers itself. that handles billing for telecommunications services

As of 2001, Busey Bank Florida has called Fort Myers home for its corporate headquarters.

An office for Busey Investment Group was established in Bloomington, Illinois, in 2004.

Due to a merger, BankIllinois and The First National Bank of Decatur are now known as Main Street Bank & Trust.

Busey has purchased the First Capital Bank, which operates four branches in the Illinois counties of Peoria and Tazewell. In the middle of 2005, these financial institutions began using the Busey brand.

2005: Busey Bank Florida acquires Tarpon Coast National Bank, which has four locations in Charlotte and Sarasota Counties, and Busey Chairman Doug Mills is named Banker of the Year by the Illinois Bankers Association.

Since 2005, Main Street Bank & Trust has owned Citizens First Financial Corporation.

On July 31, 2007–Van A. Dukeman has been promoted to the position of president and CEO. There's a new Busey product out now.

In 2009, Busey was one of the first banks to introduce mobile banking via tools like SMS, mobile web browsers, and the company's own mobile application.

There has been a merger between First Busey and Busey Bank, N A , rebranding as Busey Bank and establishing its headquarters in Fort Myers, Florida

The year 2011 sees Busey's introduction to the social media landscape, specifically Facebook, Twitter, and LinkedIn.

Trevett Capital Partners was founded in 2012, marking the expansion of the Busey family's financial services.

During the first annual Community Promise Week, hardworking employees and their families volunteer their time.

Forbes has recognized Busey as one of the most reliable businesses in the United States in both 2013 and 2014.

2015 saw the incorporation of Herget Bank into the Busey group of financial institutions.

For the second year in a row, the Independent Community Bankers of America has named Busey to its list of the Top 50 Community Bank Leaders in Social Media.

Busey was named one of the Best Banks to Work For in the United States in 2016. S as well as American Banker Magazine's Top 100 Best Places to Work and the Best Companies Group's list of the best companies to work for in Illinois

On April 30, 2016, Busy will officially welcome Pulaski Bank.

2017: Busey welcomes First Community, a Chicago suburb.

In March of 2018, Busey welcomed South Side Bank in Peoria.

On January 31, 2019, TheBANK of Edwardsville will become a Busey partner. Effective August 31, 2019, Investors Security Trust will be under the management of Busey Wealth Management.

On January 31, 2021, Glenview State Bank will become a Busey client.

Forbes Magazine will list them as one of America's Best Banks in 2022.

Acquisitions [ edit ]

First Busey Corp., founded in 1992, has expanded its holdings in the financial sector through the acquisition of a number of firms.

Initial public offering of Empire Capital Corporation: October 2, 1992; finalized: February 28, 1993

Financial Group, Eagle Banc, Inc. infancy, the Eagle Bank of Champaign County, N A , and Bloomington, Illinois's First Federal Savings & Loan Association ("First Federal"), publicized on June 30, 1999, and finalized on October 29, 1999.

Investments in First Capital Bankshares, Inc. , the founding families of Peoria, Illinois's First Capital Bank: announced January 5, 2004; closed June 1, 2004

The Bancorp of Tarpon Coast, Inc. the founding families of Port Charlotte, Florida's Tarpon Coast National Bank and Tarpon Coast Financial Services: publicized on July 29, 2005; finalized on February 17, 2006

Organization: Main Street Trust, Inc. Main Street Bank and Trust, headquartered in Decatur, Illinois, and their respective parents: Transaction Completed July 31, 2007

Corporation Herget Financial announced on September 26, 2014, and closed on March 16, 2015; the holding company for Herget Bank, National Association of Pekin, Illinois [2]

Corporation Pulaski Financial St. Joseph Financial Corporation, Holding Company for Pulaski Bank, National Association Missouri; St. Louis Initial announcement made on December 4, 2015; deal closed on April 29, 2016

Financial Services for the First Community, Inc. which owns Joliet, Illinois's First Community Financial Bank Officially announced on February 6, 2017 and concluded on July 2, 2017

The Bancorp of Mid Illinois, Inc. the parent company of Peoria, Illinois's South Side Trust and Bank First reported on March 13, 2017; finished on March 16, 2018

Banc Ed, Inc. , the parent company of Edwardsville, Illinois' TheBANK of Edwardsville Completed on January 31, 2019 after being announced on August 22, 2018

The Cummins-American Corporation Holding company for Glenview, Illinois's Glenview State Bank The deal was announced on January 19, 2021, and was finalized on June 2, 2019.

Company Description [ edit ]

Stock [ edit ]

Since October 1, 1998, shares of First Busey Corporation have been listed on the Nasdaq Stock Market under the ticker symbol "BUSE."

Services [ edit ]

Busey Bank accepts the standard types of demand and savings deposits, lends money in the form of personal, consumer, installment, first mortgage, and second mortgage loans, and provides other retail banking services such as money transfers, safe deposit services, IRA administration, and the like. Financial advisory services, including Keoghs and others, as well as electronic banking and wire transfers [3]

"Form 10-K" www sec gov 2014

Bailout [ edit ]

March 2009 saw the U.S. S As part of the Treasury's Troubled Asset Relief Program, Treasury gave Busey $100 million in exchange for Busey stock. It cost Busey $12. Dividends from the stock totaled $4 million. (4) Busey gave back $27 in August of 2011. I gave $4 million to the government and transferred Transferred ,000,000 from the Troubled Asset Relief Program (TARP) to the Treasury's Small Business Lending Fund, which has fewer regulations and may require smaller dividends. [5]

Banks that exchange TARP funds for SBLF funds can avoid TARP restrictions while simultaneously cutting back on lending to small businesses, which has drawn criticism from the TARP Inspector General and lawmakers. [6]

Subsidiaries [ edit ]

Busey Bank Management of Busy Assets

Company, FirsTech

References [ edit ]

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