Banking

Banking

Five banks up, two down in latest quarterly ratings

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

Pittsburgh-based PNC Bank, which has area offices in Champaign and Urbana, was upgraded from 31/2 stars ("good") to 4 stars ("excellent").

Quick Read: Banks' share of local markets

Last week, The News-Gazette explained how Busey Bank's merger with Pekin-based Herget Bank would affect banks' shares of deposits in the Peoria area.

This week, we'll turn closer to home to examine what share of deposits various banks have in the Champaign-Urbana and Danville metropolitan areas.

Quick Read: Busey would move up ranks in Peoria with merger

Busey Bank would have the sixth-largest share of deposits in the Peoria market if its proposed merger with Herget Bank goes through, according to a recent filing made by parent company First Busey Corp.

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."