Banking

Banking

Busey's purchase of Joliet-based First Community clears hurdle

CHAMPAIGN — The second of Busey's three recent purchases has cleared regulatory hurdles and is expected to be completed July 2.

First Busey Corp. received approval from the Federal Reserve's Board of Governors for its purchase of Joliet-based First Community Financial Partners for $235.8 million, according to a filing this week with the Securities Exchange Commission.

Chipping away: Area stores still transitioning to new payment protocol

It's been 20 months since stores were advised to switch to new chip-card readers, yet some still haven't.

Schnucks, for example, says it's still working on it.

UI's chief financial officer retiring after 10 years on job

URBANA — The chief financial officer at the University of Illinois is stepping down after more than a decade on the job.

The UI on Friday announced the retirement of Walter Knorr, 67, who is also vice president and comptroller for the UI system.

On the jobs in Champaign County

No surprise who leads off the list of Champaign County's top employers — the University of Illinois could lose 7,000 workers and still rank No. 1, its spot for as long as the local Economic Development Corporation has been keeping track. But down the line, the top 25 list of 2017 bears little resemblance to the one published 20 years earlier, the furthest back the EDC's records go.

Family Checkbook: Getting your credit in order as important as ever

By KATHY SWEEDLER

Have you checked your credit report lately? If you're not planning to borrow money, perhaps you think it's not important.

Well, your credit report can affect your finances even when you're not borrowing money!

Busey banking on fitness

About a year ago, Busey converted part of the first floor of its downtown Champaign office to a gym, complete with treadmills, ellipticals, weights and motivational messages on the walls.

Busey Wealth Management Assistant Vice President Bryan Snodgrass uses it several times a week.

UI's credit rating likely to take another hit soon

SPRINGFIELD — The University of Illinois could see a drop in its Moody's credit ratings by the end of the month, tied to a likely downgrade in the state's rating, a top UI official says.

"We are in the crosshairs," Vice President Walter Knorr told UI trustees on Thursday.

Tax preparer admits stealing thousands from elderly client

URBANA — A rural Champaign man who admitted stealing thousands of dollars from an elderly woman for whom he prepared taxes could go to prison for as long as eight years.

Heading off what was likely to be a protracted bench trial, Mark Stites, 63, pleaded guilty Thursday to financial exploitation of an elderly person.

Two area banks recognized as among best performers

CHAMPAIGN — Two area banks were named best-performing community banks by S&P Global Market Intelligence.

In a ranking of about 540 eligible banks with $1 billion to $10 billion in assets, First Mid-Illinois Bank & Trust in Mattoon was ranked No. 55 and Busey Bank in Champaign was ranked No. 80.

John Roska: Bank accounts insured up to $250,000

Q: How much are my bank accounts insured for? I remember the limit was raised several years ago, but I thought was just temporary.