| Type | Corporation |
|---|---|
| Industry | Financial services |
| Founded | 1868 |
| Headquarters | Urbana, Illinois, USA |
| Number of locations | approx. 30 |
| Area served | Florida: Charlotte, Lee, Sarasota counties Indiana: Indianapolis Illinois: Champaign, Ford, McLean, Peoria, Tazewell counties |
| Services | banking; insurance; investments |
| Employees | approx. 600[1] |
| Subsidiaries | Busey Bank (Illinois) Busey Bank N.A. (Florida) Busey Investment Group: Busey Insurance Services, Inc.; First Busey Trust & Investment Co.; First Busey Securities, Inc. |
| Website | http://www.busey.com/ |
Busey Bank is the brand name of two banks owned by First Busey Corporation (NASDAQ: BUSE) of Urbana, Illinois: Busey Bank, also headquartered in Urbana, Illinois; and Busey Bank N.A., headquartered in Port Charlotte, Florida.
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Busey Brothers and Company Bank was established on January 13, 1868, by Dr. W. R. Earhart and the brothers Simeon Busey and Colonel Samuel T. Busey. The next year, Earhart sold his share to the brothers and the bank became simply Busey Brothers Bank. In 1913, it received a state charter and became Busey's State Bank; in 1945 it received a federal charter and became Busey First National Bank.[1]
Since 1992, Busey has bought several other financial services[2], including:
On 29 July 2005, First Busey Corporation bought Tarpon Coast Bancorp, Inc., and merged Busey Bank Florida with Tarpon Coast National Bank as of 17 February 2006 to form Busey Bank N.A., which is a separate corporation from the co-owned Busey Bank in Illinois.[2]
First Busey Financial Corporation and Main Street Trust, Incorporated (owner of Main Street Bank and Trust) announced plans to merge in August, 2006. This merger of equals will create a new financial corporation (by the name of Busey) with holdings of over 4.2 billion dollars, making it one of the top one-hundred financial corporations in the U.S. and the largest bank in downstate Illinois. The merger is still pending stock-holder and Securities and Exchange Commission approval. The merger of the two banks was complete by fall, 2007.
First Busey Corporation is a $3.4 billion financial holding company headquartered in Champaign, Illinois. Busey Bank, First Busey Corporation’s wholly owned bank subsidiary, is headquartered in Champaign, Illinois and has thirty-three branches serving downstate Illinois, a branch in Indianapolis, Indiana, and seven branches serving southwest Florida. Busey Bank had total assets of $3.3 billion as of September 30, 2011.
Busey Wealth Management is a wholly owned subsidiary of First Busey Corporation. Through Busey Trust Company, Busey Wealth Management delivers trust, asset management, retail brokerage and insurance products and services. As of September 30, 2011, Busey Wealth Management had approximately $3.6 billion in assets under care. First Busey Corporation owns a retail payment processing subsidiary, FirsTech, Inc., which processes over 28 million transactions per year through online bill payments, lockbox processing and walk-in payments through its 3,100 agent locations in 38 states. [3]
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