Banking

Banking

First Busey's revenue up 32% in first quarter

CHAMPAIGN — First Busey Corp. saw significant gains in the past quarter, bolstered by the purchase of Pulaski Bank in St. Louis.

Busey reported first quarter net income of $15.2 million, up 32 percent from last quarter and up 46 percent compared to the first quarter of 2016, when it reported net income of $10.4 million.

Former Vermilion beer distribution hub up on auction block

TILTON — More than three years after Earl Gaudio & Son Inc. filed bankruptcy, its state-of-the-art Anheuser-Busch distribution facility is now up for auction.

Just Askin': First Busey Corp.'s incorporation location

Why is First Busey Corporation incorporated in Nevada?

While First Busey Corporation is headquartered in Champaign, it has been incorporated since 1993 in Carson City, Nev.

Busey relocating 50 workers to downtown Urbana branch

URBANA — Busey is spending $3 million to renovate its downtown Urbana location, making room for 50 employees it plans to relocate there.

Busey began renovations in March and hopes to complete them in August.

Family checkbook: It's almost time for Money Smart Week

By KATHY SWEEDLER

First Busey acquiring Peoria-area bank

CHAMPAIGN — Busey is buying yet another bank, this time in Peoria.

First Busey Corp., the holding company for Busey Bank, plans to buy Mid Illinois Bancorp Inc., the holding company for South Side Trust & Savings Bank of Peoria, for a mix of cash and stock valued at about $133.4 million.

Ex-Champaign financial adviser indicted on federal charges

URBANA — A federal grand jury on Wednesday indicted a former financial adviser from Champaign in connection with allegedly falsely representing a private investment scheme to a client.

The jury charged Paul Schuerger, 44, who listed an address in the 2700 block of Hunters Pond Run, with five counts of mail fraud and one count of money laundering.

First Busey makes bid to expand into Chicago suburbs

CHAMPAIGN — To help it expand to Chicago's southwest suburbs, First Busey Corp. is buying Joliet-based First Community Financial Partners for approximately $235.8 million.

The purchase comes after Busey expanded in 2016 to St. Louis with a $210.7 million purchase of Pulaski Financial.

Frerichs asking Trump to help state's medical-pot program

SPRINGFIELD — State Treasurer Mike Frerichs is asking President Donald Trump to help Illinois' medical-marijuana program by assuring that banks they won't face prosecution for doing business with dispensaries and growers operating legally in the state.

UPDATE: Suspect in Champaign bank robbery arrested

UPDATE as of 12:50 p.m. Saturday:

CHAMPAIGN — The suspect in Thursday's robbery of a southwest Champaign bank was arrested on Saturday morning.