Business & Professional Briefs April 7, 2013

New jobs

Schaefer, Lewis receive promotions.Tony Schaefer and Kim Lewis have been promoted at First Federal Savings Bank of Champaign-Urbana.

Schaefer is assistant vice president, residential/consumer loan officer. He joined the bank in 2003 and was most recently assistant vice president of operations.

First Mid leaders get raises

MATTOON — The top management of First Mid-Illinois Bancshares got salary increases ranging from 3 percent to 10.8 percent last year, the company disclosed in its proxy statement this month.

But those five officers saw much larger percentage increases in total compensation, thanks to stock awards and incentive plans.

Business roundup: First Financial to expand Illinois footprint

TERRE HAUTE, Ind. — First Financial Bank has agreed to acquire seven branches and two drive-up locations in central and southern Illinois from Bank of America, First Financial announced Tuesday.

The branches are in Mattoon, Charleston, Hillsboro, Mount Vernon, Salem, Benton and West Frankfort.

Business roundup: Groundbreaking set for Danville credit union

DANVILLE — The Danville Bell Credit Union plans to break ground Saturday for a new facility at 3591 N. Vermilion St. in Danville.

The new 3,500-square-foot building near the intersection with Poland Road is expected to open early this fall. The credit union's current office is at 307 N. Walnut St., Danville.

5 area banks upgraded, 5 downgraded

65 banks retain same ratings from previous quarter

Five area banks were upgraded and five were downgraded in the latest ratings from the BauerFinancial rating service, based on data for the quarter that ended Dec. 31.

Banks' settlement will mean $400,000 for UI clinic to help homeowners, tenants

CHAMPAIGN — A government settlement with five of the nation's largest banks over their role in the foreclosure crisis will fund a University of Illinois legal clinic that helps homeowners and tenants affected by foreclosure.

Illinois Attorney General Lisa Madigan visited the UI on Tuesday to announce a $403,271 grant to the College of Law's Community Preservation Clinic.

Monticello-based bank firm a rarity: owned by employees

MONTICELLO — First State Bancorp of Monticello is now entirely owned by its employees.

The bank's employee stock ownership plan bought all remaining outstanding shares of the company's common stock on Dec. 24.

Business roundup: Village Inn Pizza closes; family business for sale

URBANA — Village Inn Pizza has closed after 47 years of operation, and the business is up for sale, according to a release from the family-owned company.

All but 3 area banks saw rise in 2012 fourth-quarter profits

Most banking companies in East Central Illinois with publicly traded stock had a more profitable fourth quarter in 2012 than they did in 2011.

All but three had a more profitable year in 2012 than they did in 2011. The exceptions: PNC Financial Corp., First Midwest Bancorp and First Busey Corp.

Here's a rundown of fourth-quarter and full-year earnings for the companies:

Updated: First Busey net income drops for fourth quarter, all of 2012

Updated 5:24 p.m. Tuesday.

CHAMPAIGN — First Busey Corp.'s net income for the fourth quarter of 2012 dropped 14 percent from a year earlier, the company reported Tuesday.

Meanwhile, net income for full-year 2012 fell 25 percent from the previous year.