Banking

Banking

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."

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.

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.

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").

It's Your Business: Empanadas House opening campus store

The Empanadas House is finally getting a "house" of its own.

Juan Olarte began operating The Empanadas House food truck in Champaign-Urbana last year. The business serves up empanadas with a variety of fillings, such as beef, chicken and pork, as well as dessert empanadas.

Now the business is getting ready to open a store in Campustown, at 404 E. Green St., C.

Alliance sponsors 'Local Flavors' lunches, dinners

A roundup of business news:

URBANA — The Illinois Stewardship Alliance has released its schedule of "Local Flavors" lunches and dinners that feature seasonal, locally grown and produced food.

Ten restaurants in Champaign-Urbana are taking part in the project this year, with five serving lunches and five serving dinners.