Bailout Bank Bio: First Busey Corporation

Jul 29, 2009 | 1 min read | Print Article

First Busey Corporation operates as a bank holding company for Busey Bank and Busey Bank, National Association that provide various retail and commercial banking products and services to individual, corporate, institutional, and governmental customers in the United States. The company accepts demand and savings deposits; and offers commercial, financial, agricultural, and real estate loans, including individual, consumer, installment, and first and second mortgage loans. It also offers remittance processing; and trust and investment management services, including estate and financial planning, tax preparation, custody services, philanthropic advisory services, brokerage services, and investment advice. As of December 31, 2008, the company operated 51 locations . First Busey Corporation was founded in 1868 and is headquartered in Urbana, Illinois.

In March the company began participating in the Treasury Department’s Capital Purchase Program . Under the program, First Busey received $100 million in exchange for preferred stock and warrants.

Federal Equity Investment

$100 million

Total Revenue

$243.6 million (2007)
$ 276.9 million (2008)

Net Income (Loss)

$31.5 million (2007)
($37.9 million) (2008)

Number of Employees

939

Corporate Headquarters

Urbana, Illinois

Business Sector

Banking