Banking

Banking

It's Your Business: Clothing stores combining at Market Place

Customers of Christopher & Banks and CJ Banks at Champaign's Market Place Shopping Center can look for a new combined store later this week.

The new store will be located between Complete Nutrition and J. Jill in the mall's Courtyard by Marketplace wing, said Angel Jones, who will be manager of the combined store. The new space was once the location of Coldwater Creek.

First Busey income up for quarter

CHAMPAIGN — First Busey Corp. this week reported third-quarter net income of $9.1 million, up from $7.9 million a year earlier.

For shareholders in the Champaign-based parent company of Busey Bank, that resulted in earnings of 10 cents per share, up from 8 cents per share in the third quarter of 2013.

Stewart named to First Busey board

CHAMPAIGN — Jon D. Stewart, the chief executive officer of Champaign-based Tri Star Marketing, has been named to the board of directors of First Busey Corp., the bank holding company reported in a filing to the Securities and Exchange Commission this week.

Philo bank hosts visitors from China

PHILO — The Philo Exchange Bank has over 130 years of history, and on Wednesday, the bank hosted 15 visitors from China who wanted to learn from its experience.

Banks: 5 up, 1 down in ratings

Five banks were upgraded and one was downgraded in the latest ratings from BauerFinancial based on data for the financial quarter that ended June 30.

Three banks went from 4 stars ("excellent") to BauerFinancial's highest rating of 5 stars ("superior"). They included:

First Busey's second-quarter earnings up 12.5 percent

CHAMPAIGN — Busey Bank's parent company reported a 12.5 percent increase in earnings for the quarter that ended June 30, compared with the same period a year ago.

Champaign-based First Busey Corp. on Tuesday revealed that second-quarter net income totaled $8.19 million, up 10 percent from $7.44 million in the second quarter of 2013.

Owner predicts foreclosure sale of Paxton nursing home won't happen

PAXTON — A Paxton nursing home that failed to pay back $1.87 million in loans to a Chicago bank is scheduled to be sold at a public auction in August.

But an official for the company that operates the foreclosed ASTA Care Center of Ford County said he doubts "it's going to get to that point."

John Roska: The law on post-dated checks

Q: Are post-dated checks legal? A person I owe money to asked me to write 3 checks, dated for 3 different dates in the future. They promised to wait until the date on each check to cash it.

A: Post-dated checks are perfectly legal. If they weren't, "pay day" lenders and other crude forms of credit couldn't exist.

It's Your Business: Brownfield Sports settling into Urbana location

Brownfield Sports has moved to the former English Hedgerow location at the southeast corner of Lincoln and University avenues in Urbana.

"We moved over the (July 4-6) weekend," said Kristi Brownfield, who noted the shop had been at Lincoln Square for 12 years.

Four banks up, one down in BauerFinancial ratings

Four area banks were upgraded and one was downgraded in the latest ratings from BauerFinancial based on data for the quarter that ended March 31.

Three banks — First Financial Bank, First National Bank of Catlin and Illinois National Bank — were upgraded from 4 stars ("excellent") to 5 stars ("superior").