Busey Bank
Encyclopedia
Busey Bank is the brand name of two banks owned by First Busey Corporation of Urbana, Illinois
: Busey Bank, also headquartered in Urbana, Illinois
; and Busey Bank N.A., headquartered in Port Charlotte, Florida
.
On , First Busey Corporation bought Tarpon Coast Bancorp, Inc., and merged Busey Bank Florida with Tarpon Coast National Bank as of to form Busey Bank N.A., which is a separate corporation from the co-owned Busey Bank in Illinois.
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.
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.
Urbana, Illinois
Urbana is the county seat of Champaign County, Illinois, United States. As of the 2010 census, the population was 41,250. Urbana is the tenth-most populous city in Illinois outside of the Chicago metropolitan area....
: Busey Bank, also headquartered in Urbana, Illinois
Urbana, Illinois
Urbana is the county seat of Champaign County, Illinois, United States. As of the 2010 census, the population was 41,250. Urbana is the tenth-most populous city in Illinois outside of the Chicago metropolitan area....
; and Busey Bank N.A., headquartered in Port Charlotte, Florida
Port Charlotte, Florida
Port Charlotte is a census-designated place in Charlotte County, Florida, United States. The population was 46,451 at the 2000 census. It is part of the Punta Gorda Metropolitan Statistical Area.-History:...
.
History
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.Acquisitions
Since 1992, Busey has bought several other financial services, including:- Empire Capital Corporation: announced ; completed
- Eagle BancGroup, Inc. (including Eagle Bank of Champaign County, NA): announced ; completed
- First Capital Bankshares, Incorporated (including First Capital Bank based in Peoria, IllinoisPeoria, IllinoisPeoria is the largest city on the Illinois River and the county seat of Peoria County, Illinois, in the United States. It is named after the Peoria tribe. As of the 2010 census, the city was the seventh-most populated in Illinois, with a population of 115,007, and is the third-most populated...
): announced ; completed
On , First Busey Corporation bought Tarpon Coast Bancorp, Inc., and merged Busey Bank Florida with Tarpon Coast National Bank as of to form Busey Bank N.A., which is a separate corporation from the co-owned Busey Bank in Illinois.
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.
Company Profile
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.