CHAMPAIGN — Busey Bank's parent company, First Busey Corp., reported a 35 percent drop in third-quarter net income on Tuesday.
Net income totaled $4.9 million for the quarter that ended Sept. 30, down from $7.6 million for the same quarter a year earlier.
Most banks in East Central Illinois with publicly traded stock are reporting increases in third-quarter net income.
Many say they're happy with third-quarter results, even though interest margins are squeezed and loan growth is only fair.
Eight area banks were upgraded and one was downgraded last week by the BauerFinancial rating service, based on data for the quarter that ended June 30.
First Neighbor Bank, based in the Cumberland County village of Toledo, was downgraded from 5 stars ("superior") to 4 stars ("excellent"). Two of its branch offices are in Newman and Charleston.
No area credit unions were upgraded or downgraded in BauerFinancial's latest ratings, based on regulatory data from June 30.
The 22 area credit unions rated by BauerFinancial retained the same ratings they had from the quarter that ended March 31.
Of those credit unions, 10 received superior ratings, eight got excellent ratings and two received adequate ratings.
DANVILLE — The nation's Endangered Species Act has about a 99 percent success rate in protecting plants and animals vulnerable to extinction.
Local officials hope Illinois' Top 10 Most Endangered Historic Places list has the same success rate for the 95-year-old Bresee Tower, which made that list this year.
CHAMPAIGN — Community Healthcare Credit Union plans to merge with Community Plus Federal Credit Union on Oct. 1, pending a vote Monday by Community Healthcare's members.
The proposed merger came about because Community Healthcare's board felt "the credit union needed to explore options to provide more services to members," said Community Healthcare Chairman John Hansen Jr.
CHAMPAIGN — Central Illinois Bank's parent company is a smaller but healthier organization than it was a year ago, according to its quarterly report.
CIB Marine Bancshares on Friday reported net income of $941,000 for the quarter that ended June 30, up from a net loss of $1,491,000 for the same quarter a year ago.
Illustrating how dicey the banking business is this year, several publicly traded banking companies recently reported second-quarter earnings that were lower than last year's.
The parent companies of Chase Bank, PNC Bank, MainSource Bank, First Midwest Bank and Busey Bank all saw drops in second-quarter net income this year.
URBANA — Two of four people charged in an identity theft scam involving Busey Bank customers last year have pleaded guilty.
Assistant State's Attorney Joel Fletcher said one of the pair, a former Busey Bank teller, has agreed to testify against two others involved.
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.