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Bank's shareholder meeting switched to teleconference

CHAMPAIGN – CIB Marine Bancshares will hold an informational teleconference for shareholders Dec. 18 in lieu of an annual shareholders meeting, the company recently announced.

CIB Marine – the holding company for Central Illinois Bank – had hoped to schedule an annual meeting this year, but its filing for an expedited reorganization under Chapter 11 of the bankruptcy code got in the way.

Centrue parent reports $8.4 million loss in 3rd quarter

ST. LOUIS – Centrue Financial Corp., the parent company of Centrue Bank, reported a net loss of $8.4 million in the third quarter.

That brought the company's net loss for the first nine months of 2009 to $23.6 million.

First Busey chairman comments on stock price drop

CHAMPAIGN – The price of First Busey stock fell below $4 a share after the Champaign-based bank holding company announced a $284 million quarterly loss last week.

But First Busey Chairman Van Dukeman said he believes the price drop was related more to investors being less confident about the economy.

Only 2 of 11 area banks reported losses in 3rd quarter

Of 11 area banking companies with publicly traded stock, only two – First Busey Corp. and Regions Financial – reported net losses for the quarter that ended Sept. 30.

Eight others announced profitable quarters, and one has yet to report.

First Busey suffers $283.7 million loss in third quarter

CHAMPAIGN – As was forewarned a month ago, First Busey Corp. reported a massive net loss for the third quarter but indicated the worst may be over.

The parent company of Busey Bank on Tuesday reported a net loss of $283.7 million, or $7.92 per share, for the quarter that ended Sept. 30.

Engineering firm, bank now call downtown home

CHAMPAIGN – Downtown Champaign is welcoming two new companies to its business district.

On Monday, the engineering firm Clark Dietz will move into the ground floor of the Church Street Square building at Church and Randolph Streets. And earlier this week, First Bank opened a branch in the former Great Impasta restaurant at 114 W. Church St.

First Busey expects at least $62.5 million quarterly loss

URBANA – Facing losses associated with its Florida operations, First Busey Corp. plans to raise additional capital both from major investors and through a public offering of common stock.

In a filing Monday with the Securities and Exchange Commission, the parent company of Busey Bank said it expects to post a net loss of $62.5 million to $67.5 million in the third quarter, not counting potential goodwill impairment charges.

Three banks with area ties given 'problematic' ratings

Three banks with ties to East Central Illinois have been rated "problematic" by the BauerFinancial bank rating service, based on June 30 data.

CIBM Bank, which does business locally as Central Illinois Bank, was downgraded from 3-star ("adequate") to 2-star ("problematic") in the ratings released last week. So was tiny Arcola Homestead Savings Bank.

Construction of new Dewey State Bank building under way

DEWEY – Dewey State Bank is getting its own extreme makeover. A makeover that's been more than a century in the making.

Bank officials formally broke ground Thursday for the bank's new building.

Gilman bank agrees to be acquired by Edgar County bank

GILMAN – First National Bank of Gilman has agreed to be acquired by Edgar County Bank & Trust, the banks announced Thursday.

The move is expected to put the Gilman bank on stronger footing. The bank, which had recently suffered losses and seen its capital dwindle, was one of several area banks in which the Campbell family held an interest.