First Busey reports net income down from same quarter in 2011

CHAMPAIGN — First Busey Corp. reported second-quarter net income of $4.9 million, down from $7.45 million for the same quarter in 2011.

That translated to earnings per share of 5 cents, down from 7 cents a year earlier.

First Busey Corp., based in Champaign, is the holding company for Busey Bank, which has 35 banking centers in Illinois, one in Indianapolis and seven in southwest Florida.

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Orbiter wrote on July 24, 2012 at 7:07 pm

Well isn't that nice.  Clearly the Busey CEO is worth every penny of his $550,000 salary that took effect 3 weeks ago.  Why only a couple years ago he was worth only $400,000.  Now we see that since Mr. Van Dukeman is among "the best and the brightest", he certainly does fit in well with the 1%.  Just give him time, he'll find a way to drive our local bank into the ground, in the great tradition of Wall Street.

I was apalled when I read the story of his recent pay rise.  I still am. 

http://www.news-gazette.com/news/business/banking/2012-04-17/first-busey...

My next banking decision will be to pick a new bank and move my accounts over, ASAP.  I'm tired of supporting the fat cats.  Meanwhile, local developers have to turn to the city and state to get their hotels financed, and other local businesses are unable to obtain the credit they need. Busey sure doesn't seem to be helping this community very much.