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First Busey Announces 2012 Third Quarter Earnings



First Busey Announces 2012 Third Quarter Earnings

CHAMPAIGN, Ill., Oct. 30, 2012 (GLOBE NEWSWIRE) -- Message from our President
& CEO

First Busey Corporation's (Nasdaq:BUSE) net income for the third quarter of
2012 was $4.9 million and net income available to common shareholders was $4.0
million, or $0.05 per fully-diluted common share. These results were
consistent with the second quarter in all three measures with some modest
improvements as shown in financial tables accompanying this release. In
comparison, the Company reported net income of $7.6 million and net income
available to common shareholders of $6.5 million, or $0.08 per fully-diluted
common share, for the third quarter of 2011.

The Company's 2012 year-to-date net income through September 30 was $17.4
million and net income available to common shareholders was $14.7 million, or
$0.17 per fully diluted share. For the comparable period of 2011, net income
was $24.1 million and net income available to common shareholders was $20.0
million, or $0.24 per fully diluted share. Earnings from the prior quarter
were stable while changes from the prior year reflect changes we are making in
our organization as we position ourselves for future balance sheet strength,
consistent profitability and sustainable growth.

Our previously announced loan growth initiative drove increases in gross loan
balances for the second consecutive quarter, ending the third quarter at $2.04
billion, which was $13.4 million higher than the prior quarter-end. Commercial
loan portfolios grew $25.3 million in the aggregate, with $22.0 million
attributable to commercial real estate and construction loans, and $3.3
million attributable to commercial & industrial loans. Growth occurred in
targeted portfolios with positive changes in mix, as loans with the strongest
risk grades increased, while loans with weaker grades declined during the
quarter^1. Partially offsetting growth in commercial product lines were
residential real estate loans held for sale, which declined by $10.6 million.

Our non-interest bearing deposits of $510.1 million at September 30, 2012 grew
from $503.1 million at December 31, 2011 and $467.8 million at September 30,
2011. Furthermore, our core deposits of $2.7 billion at September 30, 2012
increased from $2.5 billion for both December 31, 2011 and September 30, 2011.
Non-interest bearing deposit growth has a positive influence on funding costs,
while increasing core deposits provide a stable platform for continued asset
growth.

Other operational highlights for the quarter include the completion of our
core processing system conversion in mid-September which provides for greater
customization and technological agility going forward. Costs of the system
upgrade were partially mitigated through securities sales to uphold a steady
operating earnings stream to shareholders during the conversion launch and
transition.

As part of our commitment to deliver innovative and simplified solutions to
our clients, we have also recently launched a new mobile responsive website.
The lay-out was designed to enhance ease of viewing and navigation across a
range of devices and browsers, with a single source of content to enable a
minimum of resizing, panning and scrolling. As part of the redesign, we were
able to make some exciting enhancements, making our site cleaner and more
relevant with content additions and a fresh look.

In addition, the Company is pleased to announce the founding of Trevett
Capital Partners ("Trevett"), a private wealth management boutique created to
serve high net worth clientele in southwest Florida, operating as a division
of Busey Bank. The Trevett name has roots in the legacy organizations upon
which First Busey Corporation was founded, dating back to the Trevett-Mattis
Banking Company in 1861. Trevett will build upon our established presence in
Florida and the broad capabilities of our existing Wealth Management operation
to provide concierge service and tailored solutions for the accumulation and
preservation of capital and generational legacies. A highly tenured team of
sophisticated wealth management professionals with an in-depth knowledge of
the Florida market will lead the delivery of comprehensive investment, estate
planning, trust and private banking solutions. Further information regarding
Trevett is available on its website – www.trevettcapitalpartners.com.

Capital Strength: At the end of the third quarter of 2012, Busey Bank
continued to exceed the capital adequacy requirements necessary to be
considered "well-capitalized" under the regulatory guidance. Additionally,
Tangible Common Equity (TCE)^2 increased to $316.0 million at September 30,
2012 from $313.0 million at June 30, 2012 and $304.2 million at September 30,
2011. TCE represented 9.03% of tangible assets at September 30, 2012 compared
to 8.96% at June 30, 2012 and 9.05% at September 30, 2011.

On October 26, 2012, we paid a cash dividend of $0.04 per common share to
shareholders of record as of October 19, 2012.  The Company has an
uninterrupted history of paying quarterly dividends to its common shareholders
since 1998, when it first began trading on the NASDAQ exchange. 

Asset Quality: While much internal focus has been directed toward organic
growth, our commitment to credit quality remains strong, as evidenced by
another quarter of positive trends across a range of credit indicators. We
expect continued gradual improvement in our overall asset quality during the
remainder of 2012; however, this remains dependent upon market-specific
economic conditions. The key metrics are as follows:

  * Non-performing loans decreased to $25.2 million at September 30, 2012 from
    $33.8 million at June 30, 2012 and $38.5 million at December 31, 2011.
     
    -- Illinois/Indiana non-performing loans decreased to $17.4 million at
    September 30, 2012 from $25.3 million at June 30, 2012 and $27.7 million
    at December 31, 2011.
    -- Florida non-performing loans decreased to $7.8 million at September 30,
    2012 from $8.5 million at June 30, 2012 and $10.8 million at December 31,
    2011.
     
  * Loans 30-89 days past due increased to $7.9 million at September 30, 2012
    from $4.2 million at June 30, 2012 and $4.7 million at December 31, 2011.
    The increase primarily related to a few large commercial credits that are
    actively being pursued for collection. Loans 30-89 days past due as a
    percentage of gross loan balances at September 30, 2012 were 0.39%, which
    compares favorably to peer averages per publically available Federal
    Reserve System Bank Holding Company Performance Reports.
  * Other non-performing assets, primarily consisting of other real estate
    owned, increased to $8.5 million at September 30, 2012 from $7.8 million
    at June 30, 2012, but remained consistent with the amount recorded at
    December 31, 2011. The increase in other real estate owned and the decline
    in non-performing loans in the third quarter of 2012 were interrelated due
    to the foreclosure of a large commercial property. This property was
    previously classified as a non-performing loan in the second quarter of
    2012.
  * The ratio of non-performing assets to total loans plus other
    non-performing assets at September 30, 2012 decreased to 1.65% from 2.05%
    at June 30, 2012 and 2.28% at December 31, 2011.
  * The allowance for loan losses to non-performing loans ratio increased to
    195.38% at September 30, 2012 from 150.42% at June 30, 2012 and 151.91% at
    December 31, 2011.
  * The allowance for loan losses to total loans ratio decreased to 2.42% at
    September 30, 2012 compared to 2.52% at June 30, 2012 and 2.85% at
    December 31, 2011.
  * Net charge-offs of $5.2 million recorded in the third quarter of 2012 were
    lower than the $7.5 million recorded in the second quarter of 2012 and the
    $10.4 million recorded in the third quarter of 2011.
  * Provision expense decreased to $3.5 million in the third quarter of 2012
    from $4.5 million recorded in the second quarter of 2012 and $5.0 million
    recorded in the third quarter of 2011.

The agriculture sector in the United States has been dealing with the nation's
worst drought in decades. Loans to finance agricultural production and other
loans to farmers do not represent a significant portion of our total loan
portfolio, with balances of $27.2 million or approximately 1% of total loans
as of September 30, 2012. Additionally, loans secured by farmland totaled
$43.4 million or approximately 2% of total loans for the same period.
Currently, the economic impact of the drought appears to be less than
originally anticipated in our markets. Commodity prices along with crop
insurance have helped soften the effect of poor corn yields. The drought's
negative impact on soybean yields has been less than anticipated and less than
that of corn. Commodity prices and crop insurance are also minimizing the
effect of decreased soybean yields. The financial condition of these clients
and the agriculture base in our communities will continue to be monitored by
management for negative effects in upcoming periods. 

Operating Performance: We continue to demonstrate great progress in
strengthening our balance sheet, diversifying revenue streams and developing
appropriate platforms to sustain profitable organic growth. Our business
outreach across our footprint has increased substantially, and we are
encouraged by the volumes building in our loan pipeline and the new loan
growth experienced in recent quarters.

While our expenses increased as we continued to shape our infrastructure to
support our growth strategy, we have been able to maintain stable revenue
generation through diversified sources during the quarter. Total revenue (net
of interest expense and security gains) for the third quarter of 2012 was
$40.6 million, compared to $41.0 million for the second quarter of 2012 and
$42.4 million for the third quarter of 2011.

Total revenue (net of interest expense and security gains) for the first nine
months of 2012 was $125.2 million as compared to $127.9 million for the same
period of 2011. Non-interest income revenue sources helped offset declines in
net interest income arising from slow asset growth and continued margin
pressure. Revenues from trust, brokerage and commissions, and remittance
processing activities, which are primarily generated through Busey Wealth
Management and FirsTech, represented 43% of non-interest income, providing a
balance to traditional banking activities in a slow growth economy. The
addition of Trevett Capital Partners to our family of financial services will
broaden our business base and enhance ongoing development of revenue sources.

Busey Wealth Management's net income of $0.8 million for the third quarter of
2012 fell slightly from $1.0 million for the second quarter of 2012, but was
comparable to the $0.7 million earned in the third quarter of 2011. Busey
Wealth Management's net income for the first nine months of 2012 was $2.6
million as compared to $2.4 million for the first nine months of 2011.
FirsTech's net income of $0.2 million for the third quarter of 2012 remained
consistent with the amount earned in the second quarter of 2012, but slightly
decreased from $0.4 million for the third quarter of 2011. FirsTech's net
income for the first nine months of 2012 was $0.7 million as compared to $1.3
million for the same period of 2011 due to decreased volume of online bill
payments.

Other specific areas of operating performance are detailed as follows:

  * Net interest income slightly increased to $25.5 million in the third
    quarter of 2012 compared to $25.3 million for the second quarter of 2012,
    but decreased from $27.7 million for the third quarter of 2011. Positive
    inflection from the prior quarter in average loan volumes of $29.9 million
    and decreasing funding costs created a small improvement in both net
    interest income and the net interest margin. Net interest income for the
    first nine months of 2012 was $76.5 million compared to $83.9 million for
    the same period of 2011. Net interest income declines from prior year were
    driven by decreases in average loan volumes, which have prompted
    initiatives to foster quality asset growth. Additional liquidity generated
    by our growing deposit base has primarily been deployed into our
    investment portfolio over the past year.
  * Net interest margin modestly increased to 3.25% for the third quarter of
    2012 as compared to 3.21% for the second quarter of 2012, but decreased
    from 3.57% for the third quarter of 2011. The net interest margin for the
    first nine months of 2012 decreased to 3.26% compared to 3.55% for the
    same period of 2011. The Company continued to experience downward pressure
    on its yield on interest-earning assets resulting from a protracted period
    of historically low rates and heightened competition for assets, which has
    been experienced throughout the banking industry.
  * Residential mortgage loans posted another strong quarter of gains from
    sales totaling $3.3 million in the third quarter of 2012 compared to $3.3
    million in the second quarter of 2012 and $3.0 million in the third
    quarter of 2011. During the first nine months of 2012, gains on sales of
    mortgage loans increased to $8.9 million compared to $7.4 million for the
    first nine months of 2011 resulting from an active market for refinancing.
  * Other non-interest income declined to $0.9 million in the third quarter of
    2012 from $1.4 million for the second quarter of 2012, but slightly
    increased from $0.8 million for the third quarter of 2011. Other
    non-interest income for the first nine months of 2012 increased to $5.7
    million from $2.8 million for the comparable period of 2011. As discussed
    in previous releases, the Company recorded a net gain of $2.1 million in
    the first quarter of 2012 from income earned on private equity funds. The
    majority of this gain was non-ordinary; therefore, a decline in
    non-interest income for the second and third quarters of 2012 was
    expected.
  * Salaries and wages and employee benefits increased to $16.5 million in the
    third quarter of 2012 compared to $16.3 million in the second quarter of
    2012 and $13.6 million in the third quarter of 2011. In the first nine
    months of 2012, salaries and wages and employee benefits totaled $47.8
    million as compared to $38.4 million for the same period of 2011. As
    discussed in prior earnings releases, the planned increase in 2012
    represents our investment in talent to drive future business expansion.
  * Data processing expense increased to $3.6 million in the third quarter of
    2012 from $2.6 million for the second quarter of 2012 and $2.1 million for
    the third quarter of 2011. In the first nine months of 2012, data
    processing expense totaled $8.4 million as compared to $6.4 million for
    the comparable period of 2011. The majority of the quarterly and
    year-over-year increase resulted from our core system conversion in
    mid-September of 2012. In the months leading up to conversion, we incurred
    various costs to implement our new core system. These costs consisted of
    conversion fees of $0.3 million, deconversion and licensing fees to our
    prior provider of $0.7 million, and $0.3 million to enhance/upgrade
    certain non-core systems for compatibility with the new core system. The
    remaining increase was attributable to additional vendor fees related to
    the growth in online and mobile banking as well as enhancements to our
    internet banking service. Some continued elevation in conversion-related
    expenses are anticipated in the fourth quarter of 2012, but at a
    significantly lower level than the third quarter.
  * Other operating expense for the third quarter of 2012 remained fairly
    consistent with the amounts recorded for both the second quarter of 2012
    and the third quarter of 2011. However, in the first nine months of 2012,
    other operating expense increased to $15.7 million as compared to $14.2
    million for the comparable period of 2011. The majority of the increase
    was due to additional marketing and business development costs. These
    costs support our previously announced growth strategy initiatives. In
    addition, employee recruiting expense increased by $0.4 million on a
    year-over-year basis. This increase is in line with the increase in
    salaries and employee benefits as it represents our investment in talent.
  * Our quarterly efficiency ratio increased to 71.71% for the third quarter
    of 2012 from 69.68% for the second quarter of 2012 and 57.87% for the
    third quarter of 2011 due to the planned expense increases discussed in
    the preceding paragraphs. The efficiency ratio for the first nine months
    of 2012 was 66.90%, as compared to 57.16% for the same period of 2011.
    Peer data from Federal Reserve system sources suggests that the Company
    has historically compared favorably to similarly-sized companies in terms
    of efficiency ratios, with averages for peers ranging between 65% and 67%
    during 2011 and the second quarter of 2012.   

Overview and Strategy:

As we close the third quarter, we reflect on the significant accomplishments
of our Busey associates over the past year. We are looking to a future which
we have reshaped in fundamental ways in order to support our success through a
balance sheet built to capture better quality, higher-earning assets. We have
reversed our previous asset trajectory enabling us to add loans and replace
short term funds to counter margin pressures as the industry collectively
faces economic headwinds. We have added stronger roots to our core funding
base through increased relationship depth under a sustained relationship model
we call B^5, creating a foundation built on the value we bring to our clients
and not the temporary attraction of balance sheet volume. We have changed the
underpinnings of technology and celebrate the hard work accomplished to
successfully complete a core conversion which sets the stage for our continued
growth through innovation.

We celebrate a successful change in our commercial sales culture and the
strength of adding equal levels of talent in credit support roles to match
growth in the lending and sales outreach functions, which extends our deep
legacy of conservative credit management and commitment to safety and future
earnings stability for our shareholders. We feel we are differentiated from
competitors by not simply redeploying former real estate-based competencies
into different lending venues, but rather by rebuilding the engine and
redesigning our way of doing business. Our mission is to grow into new
economic realities and support our communities while conservatively balancing
risk. In the third quarter, we were able to reduce our provision expense while
improving the relationship of loan loss reserve coverage of non-performing
loans.

We have put forth an energetic effort to bring enhanced competencies to our
Wealth Management business and support the fee apparatus that is so critical
for revenue diversity in successful banking organizations. In Florida, we
expect to more fully capitalize on our existing footprint and add geographic
fee diversification that also has a natural connection to our Midwest
identity.

We are currently evaluating our network for efficiencies to emphasize our
branches as places customers will seek to solve their more complex needs, with
electronic and mobile choices offering ease and efficiency in simpler
transactional activities. We are set to capitalize on our investments in
growing cash management capabilities by providing a compelling product suite
to business owners with comprehensive lending, treasury and personal wealth
management services. Many of our business units are freshly retooled with
talent and insight from larger financial institutions while still married to
the local market knowledge and commitment of our long-term associates with an
understanding of our communities. We are actively evaluating capital
management strategies and potential future partnerships with attractive merger
candidates. We have a relentless focus on growing our business, optimizing our
funding costs and growing our fee income.

As we take pride in our past and look confidently towards our future, we thank
our associates for their efforts, our customers for their business and you,
our shareholders, for your continued support of Busey.

\s\ Van A. Dukeman

President & Chief Executive Officer

First Busey Corporation

^1A detailed description of the loan grading policy can be found in the
Company's Annual Report on Form 10-K for the year ended December 31, 2011.

^2Tangible Common Equity is defined as common equity less tax effected
goodwill and intangibles at the end of the reporting period.

                                                                     
SELECTED FINANCIAL HIGHLIGHTS
(dollars in thousands, except per share data)
                                                                     
                        As of and for the                 As of and for the 
                        Three Months Ended               Nine Months Ended
                        September  June 30,   September  September  September
                        30,        2012       30,        30,        30,
                        2012                  2011       2012       2011
EARNINGS & PER SHARE                                                 
DATA
Net income              $4,909     $4,888     $7,570     $17,440    $24,127
Income available to     4,000      3,980      6,521      14,715     20,019
common shareholders^1
Revenue^2               40,623     40,980     42,445     125,181    127,920
Fully-diluted earnings  0.05       0.05       0.08       0.17       0.24
per share
Cash dividends paid per 0.04       0.04       0.04       0.12       0.12
share
                                                                     
Net income by operating                                              
segment
 Busey Bank             $4,642     $4,187     $7,068     $14,859    $22,984
 Busey Wealth           780        1,004      749        2,647      2,417
Management
 FirsTech               237        244        381        746        1,253
                                                                     
AVERAGE BALANCES                                                     
Assets                  $3,488,429 $3,521,800 $3,420,878 $3,491,863 $3,500,121
Earning assets          3,204,169  3,239,363  3,138,274  3,208,909  3,213,540
Deposits                2,866,727  2,878,173  2,769,255  2,853,610  2,829,830
Interest-bearing        2,538,168  2,559,924  2,505,838  2,541,382  2,576,049
liabilities
Shareholders' equity -  342,833    340,575    331,387    340,367    315,643
common
Tangible shareholders'  308,095    305,012    293,243    304,806    276,624
equity – common^3
                                                                     
PERFORMANCE RATIOS                                                   
Return on average       0.46%      0.45%      0.76%      0.56%      0.76%
assets^4
Return on average       4.64%      4.70%      7.81%      5.77%      8.48%
common equity^4
Return on average
tangible common         5.16%      5.25%      8.82%      6.45%      9.68%
equity^4
Net interest margin^4   3.25%      3.21%      3.57%      3.26%      3.55%
Efficiency ratio^5      71.71%     69.68%     57.87%     66.90%     57.16%
Non-interest revenue as 37.12%     38.33%     34.68%     38.87%     34.40%
a % of total revenues^2
                                                                     
ASSET QUALITY                                                        
Gross loans             $2,035,319 $2,021,931 $2,099,314             
Allowance for loan      49,213     50,866     63,915                 
losses
Net charge-offs         5,153      7,469      10,414     22,293     27,123
Allowance for loan      2.42%      2.52%      3.04%                  
losses to loans
Allowance as a
percentage of           195.38%    150.42%    148.73%                
non-performing loans
Non-performing loans                                                 
 Non-accrual loans      25,129     33,760     41,987                 
 Loans 90+ days past    59         57         986                    
due
 Geographically                                                      
 Illinois/ Indiana      17,377     25,365     29,733                 
 Florida                7,811      8,452      13,240                 
Loans 30-89 days past   7,895      4,240      8,247                  
due
Other non-performing    8,486      7,783      11,577                 
assets
                                                                     
^1Net income, net of preferred dividends and                         
discount accretion
^2Total revenue, net of interest                                     
expense and security gains
^3Average common equity less average goodwill and                    
intangibles (not tax effected)
^4Quarterly ratios annualized and calculated on net income           
available to common shareholders
^5Net of security gains                                              
and intangible charges

                                                                 
Condensed Consolidated Balance                                   
Sheets
(Unaudited, in thousands, except per share data)                 
                                   September 30,  December 31,  September 30,
                                   2012           2011          2011
Assets                                                           
Cash and due from banks            $328,308       $315,053      $289,144
Investment securities              964,187        831,749       795,403
Net loans, including loans held    1,986,106      1,992,838     2,035,399
for sale
Premises and equipment             72,214         69,398        70,179
Goodwill and other intangibles     34,223         36,704        37,589
Other assets                       144,626        156,380       165,171
Total assets                       $3,529,664     $3,402,122    $3,392,885
                                                                 
Liabilities & Shareholders' Equity                               
Non-interest bearing deposits      $510,146       $503,118      $467,775
Interest-bearing deposits          2,382,378      2,260,336     2,288,686
Total deposits                     $2,892,524     $2,763,454    $2,756,461
                                                                 
Securities sold under agreements   131,753        127,867       129,905
to repurchase
Long-term debt                     7,417          19,417        19,834
Junior subordinated debt owed to   55,000         55,000        55,000
unconsolidated trusts
Other liabilities                  25,649         27,117        24,219
Total liabilities                  $3,112,343     $2,992,855    $2,985,419
Total shareholders' equity         $417,321       $409,267      $407,466
Total liabilities & shareholders'  $3,529,664     $3,402,122    $3,392,885
equity
                                                                 
Per Share Data                                                   
Book value per common share        $3.98          $3.89         $3.87
Tangible book value per common     $3.58          $3.46         $3.43
share^1
Ending number of common shares     86,644         86,617        86,597
outstanding
                                                                 
^1 Total common equity less goodwill and intangibles divided by shares
outstanding as of period end

                                                                       
Condensed Consolidated Statements of Operations                        
(Unaudited, in thousands, except per                                   
share data)
                                          Three Months Ended Nine Months Ended
                                          September 30,      September 30,
                                          2012      2011     2012     2011
                                                                       
Interest and fees on loans                $24,412   $28,243  $74,450  $87,924
Interest on investment securities         4,599     4,568    13,882   13,666
Total interest income                     $29,011   $32,811  $88,332  $101,590
                                                                       
Interest on deposits                      2,960     4,457    10,026   14,536
Interest on short-term borrowings         71        96       243      327
Interest on long-term debt                106       230      552      1,212
Junior subordinated debt owed to          329       301      994      1,600
unconsolidated trusts
Total interest expense                    $3,466    $5,084   $11,815  $17,675
                                                                       
Net interest income                       $25,545   $27,727  $76,517  $83,915
Provision for loan losses                 3,500     5,000    13,000   15,000
Net interest income after provision for   $22,045   $22,727  $63,517  $68,915
loan losses
                                                                       
Trust fees                                3,960     3,460    13,245   11,765
Commissions and brokers' fees             508       495      1,578    1,415
Fees for customer services                4,384     4,624    12,892   13,476
Remittance processing                     2,068     2,335    6,346    7,119
Gain on sales of loans                    3,255     2,977    8,924    7,444
Net security gains (losses)               511        --      575      -2
Other                                     903       827      5,679    2,786
Total non-interest income                 $15,589   $14,718  $49,239  $44,003
                                                                       
Salaries and wages                        13,707    11,090   38,966   30,678
Employee benefits                         2,773     2,494    8,791    7,759
Net occupancy expense                     2,237     2,211    6,598    6,762
Furniture and equipment expense           1,276     1,294    3,858    3,958
Data processing expense                   3,568     2,145    8,366    6,425
Amortization expense                      827       885      2,481    2,653
Regulatory expense                        623       497      1,869    3,652
OREO expense                              273       112      788      459
Other operating expenses                  5,110     4,996    15,658   14,228
Total non-interest expense                $30,394   $25,724  $87,375  $76,574
                                                                       
Income before income taxes                $7,240    $11,721  $25,381  $36,344
Income taxes                              2,331     4,151    7,941    12,217
Net income                                $4,909    $7,570   $17,440  $24,127
Preferred stock dividends and discount    $909      $1,049   $2,725   $4,108
accretion
Income available for common shareholders  $4,000    $6,521   $14,715  $20,019
                                                                       
Per Share Data                                                         
Basic earnings per common share           $0.05     $0.08    $0.17    $0.24
Fully-diluted earnings per common share   $0.05     $0.08    $0.17    $0.24
Diluted average common shares outstanding 86,662    86,608   86,643   84,880

Corporate Profile

First Busey Corporation is a $3.5 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-one full service and four limited service banking centers serving
Illinois, a full service banking center in Indianapolis, Indiana, and seven
full service banking centers serving southwest Florida.  Busey Bank had total
assets of $3.5 billion as of September 30, 2012.

Busey Wealth Management is a wholly-owned subsidiary of First Busey
Corporation. Through Busey Trust Company, Busey Wealth Management provides
asset management, investment and fiduciary services to individuals, businesses
and foundations.  As of September 30, 2012, Busey Wealth Management managed
approximately $4.1 billion in assets.

Through Busey Bank, First Busey Corporation owns a retail payment processing
subsidiary, FirsTech, Inc., which processes over 22 million transactions per
year through online bill payments, lockbox processing and walk-in payments
through its 3,100 agent locations in 38 states.

Busey Bank also provides electronic delivery of financial services through its
website, www.busey.com. 

Special Note Concerning Forward-Looking Statements

This document may contain forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995 with respect to the financial
condition, results of operations, plans, objectives, future performance and
business of the Company. Forward-looking statements, which may be based upon
beliefs, expectations and assumptions of the Company's management and on
information currently available to management, are generally identifiable by
the use of words such as "believe," "expect," "anticipate," "plan," "intend,"
"estimate," "may," "will," "would," "could," "should" or other similar
expressions. Additionally, all statements in this document, including
forward-looking statements, speak only as of the date they are made, and the
Company undertakes no obligation to update any statement in light of new
information or future events. A number of factors, many of which are beyond
the ability of the Company to control or predict, could cause actual results
to differ materially from those in its forward-looking statements. These
factors include, among others, the following: (i) the strength of the local
and national economy; (ii) the economic impact of any future terrorist threats
or attacks; (iii) changes in state and federal laws, regulations and
governmental policies concerning the Company's general business (including the
impact of Basel III and the Dodd-Frank Wall Street Reform and Consumer
Protection Act and the extensive regulations to be promulgated thereunder);
(iv) changes in interest rates and prepayment rates of the Company's assets;
(v) increased competition in the financial services sector and the inability
to attract new customers; (vi) changes in technology and the ability to
develop and maintain secure and reliable electronic systems; (vii) the loss of
key executives or employees; (viii) changes in consumer spending;
(ix) unexpected results of acquisitions; (x) unexpected outcomes of existing
or new litigation involving the Company; and (xi) changes in accounting
policies and practices. These risks and uncertainties should be considered in
evaluating forward-looking statements and undue reliance should not be placed
on such statements. Additional information concerning the Company and its
business, including additional factors that could materially affect the
Company's financial results, is included in the Company's filings with the
Securities and Exchange Commission.

CONTACT: David B. White, CFO
         217-365-4047
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