Banking

Banking

One area credit union downgraded in 4th quarter

One area credit union was downgraded in BauerFinancial's latest ratings, based on regulatory data from Dec. 31.

Community Plus Federal Credit Union in Rantoul, which had been rated 5-star ("superior") in the previous quarter's ratings, was downgraded to 4-star ("excellent") in the latest ratings.

Updated: Income up for fourth quarter, all of 2013, for First Busey

CHAMPAIGN — Busey Bank parent First Busey Corp. reported sharp increases in net income for the fourth quarter of 2013 and the full year.

Fourth-quarter net income was $6.92 million, up 41 percent from $4.92 million in 2012. For shareholders, diluted earnings amounted to 7 cents a share, up from 5 cents a share in 2012.

Centennial celebration starts Thursday for bank in Bement

BEMENT — The State Bank of Bement will officially become a centennial business this Thursday and has celebrations planned for Jan. 9-10 that will include memorabilia displays and giveaways, a DVD slideshow and people dressed in period costumes.

UI chancellor named to Busey board

CHAMPAIGN — University of Illinois Chancellor Phyllis Wise has been appointed to First Busey Corp.'s board of directors, the company reported in a filing with the Securities & Exchange Commission.

Bank robbery 'prank' lands teen in special program

URBANA — A 14-year-old Urbana girl arrested by police in connection with an attempted bank robbery last week will be taking part in a program to teach her about the consequences of her actions.

Meanwhile, police said Monday they are looking for other juveniles associated with the incident after the girl told them it was all supposed to be a prank.

Gibson hospital to open clinic in Potomac

POTOMAC — Gibson Area Hospital plans to open a new Potomac clinic early next year in a building it will share with Gifford State Bank.

Rob Schmitt, CEO of the Gibson City-based hospital, said the week of Jan. 1 has been targeted for the opening of the clinic portion of the building, to be called Family Health Care of Potomac Clinic.

3 area banks downgraded; 6 get upgraded

Three area banks were downgraded and six were upgraded in the latest ratings from the BauerFinancial rating service, based on data for the quarter that ended Sept. 30.

Area bank ratings for 3rd quarter 2013

Here's the breakdown of BauerFinancial's ratings of 77 banks with offices in East Central Illinois based on data from the quarter that ended Sept. 30:

5-star ("superior")

41 banks

— Arcola First Bank

— Bank of Gibson City

— Bank of Rantoul

— Buckley State Bank

— Busey Bank

— Cissna Park State Bank

For Gifford merchants, it's business unusual

GIFFORD — Lorin Schluter, in his denim overalls, took a break from frying chicken to step out the back door of his restaurant.

There he checked on the generator he had hooked up to a power take-off connected to a 120-horsepower John Deere tractor.

It's been running since 6 p.m. Sunday.

John Roska: Credit cards have edge over debit cards for buying online

Q: Should I use a credit or debit card for online purchases? Is there any difference?

A: Legally, there are differences, which probably give credit cards the edge for buying online.

Credit cards are basically loans that you repay to a lender. Debit cards make withdrawals from your bank.