UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
Current
Report
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of
Report (Date of earliest event reported): March 1, 2010
First
Busey Corporation
(Exact
name of registrant as specified in its charter)
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Nevada
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0-15959
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37-1078406
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(State
or other jurisdiction of incorporation)
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(Commission
File Number)
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(I.R.S.
Employer Identification No.)
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100
W. University Ave.
Champaign,
Illinois 61820
(Address
of principal executive offices) (Zip code)
(217)
365-4516
(Registrant’s
telephone number, including area code)
N/A
(Former
name or former address, if changed since last report.)
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see General
Instruction A.2. below):
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the
Exchange
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Act
(17 CFR 240.14d-2(b))
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the
Exchange
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Act
(17 CFR 240.13e-4(c))
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Item
5.02
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Departure
of Directors or Certain Officers; Election of Directors; Appointment of
Certain Officers; Compensatory Arrangements of Certain
Officers.
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The
information required under Item 5.02 is hereby incorporated by reference to Item
7.01 of this Current Report on Form 8-K.
Item
7.01 Regulation
FD Disclosure.
On March
1, 2010, First Busey Corporation (“First Busey”) announced modifications to its
organizational structure. The modifications were determined
after assessing the current operating environment, evaluating future growth
opportunities, and discussions with First Busey and Busey Bank (“Busey Bank”)
boards of directors and executive management.
Through
these modifications, we will create focused business lines that are both
scalable for growth and exportable to new markets in the future. In
addition to increased focus on our business lines, we leverage the strengths of
our leadership to best serve our 4 Pillars – customers, associates, communities
and shareholders.
The
principal modifications are as follows:
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David B. White will
assume responsibility as Chief Financial Officer of First Busey and Busey
Bank. In addition, Human Resources, Corporate Administration,
Finance and Treasury, Investor Relations, Marketing, Strategy and
Communication will reside under Mr. White’s leadership. This
change will be effective following the filing of First Busey’s Form 10-K
for the fiscal year ended December 31,
2009.
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Barbara J. Harrington
will assume responsibility as Chief Risk Officer of First Busey and Busey
Bank. Internal Audit, Compliance, Loan Review, and Regulatory
Management will reside under Ms. Harrington’s leadership. Ms.
Harrington will remain in her current role as Chief Financial Officer and
the principal financial officer until after the filing of First Busey’s
Form 10-K for the fiscal year ended December 31,
2009.
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Robert F. Plecki, Jr.
will assume responsibility as Chief Credit Officer of First Busey and
Busey Bank. In addition to this leadership role, Mr. Plecki
will continue to serve as Florida Region President for Busey
Bank. Don A.
Monteith will assist Mr. Plecki as Executive Vice President,
Special Assets for Busey Bank. Further, in support of balance
sheet strength, all credit related functions including retail, business
and mortgage underwriting and special assets management will align under
Mr. Plecki’s leadership.
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Leanne C. Heacock has
accepted new leadership responsibility as Chief Information Officer of
First Busey. The core operating and technology systems of First
Busey, Busey Bank, and Busey Wealth Management will align under Ms.
Heacock’s direction.
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Howard F. Mooney II will continue to
serve as President and Chief Executive Officer of FirsTech,
Inc. In addition, Mr. Mooney will be responsible for overseeing
large corporate cash management
strategies.
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Christopher M. Shroyer
will be named President & Chief Executive Officer of Busey
Bank. In addition to this new leadership role, Mr. Shroyer will
continue to serve as the East Region President. The Busey East
region includes Champaign and Ford counties in Illinois and Indianapolis,
Indiana.
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Additionally, the following business
lines and regional leadership will work together under Mr. Shroyer to
collaboratively serve our customers:
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Donna R. Greene will
continue to serve as President and Chief Executive Officer of our Busey
Wealth Management business line. All Busey Wealth Management
roles and responsibilities, with the exception of operating and technology
systems, will continue to reside under Ms. Greene’s
leadership.
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N. John Waddock will
assume new responsibility as Executive Vice President of our Business
Banking business line. Thomas M. Good will
serve as Executive Vice President and Senior Business Lender of the Busey
West Region, and J. Rod Kirby will continue
to serve as Executive Vice President and Senior Business Lender of the
Busey East Region.
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Susan L.
Abbott will continue to serve as Executive Vice President of
our Retail Banking business line. All retail administration,
lending, and branch strategies will continue to reside under Ms. Abbott’s
leadership.
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Gary L. Jackson will
assume full leadership responsibility as Senior Vice President of
our Residential Mortgage Banking business line, focusing on
origination and sales. Due to the increased scope and size of
residential mortgage banking, we are establishing Residential
Mortgage Banking as a separate business
line.
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Daniel P. Daly will
continue to serve as Executive Vice President of Busey Bank and our West
Region President. The Busey West region includes the Illinois
counties of Macon, Shelby, McLean, Livingston, Peoria and
Tazewell.
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The
transition period for these modifications begins on March 1, 2010, with full
transition expected on or around March 31, 2010.
The
following is a description of the business experience for at least the past five
years of our executive officers who will report directly to Van A. Dukeman,
President and Chief Executive Officer of First Busey Corporation following the
above-referenced modifications. There will not be any immediate
changes to the following executive officers’ compensation arrangements as a
result of the modifications. Following the effectiveness of all of
the changes, the executive officers of First Busey will be:
Barbara J.
Harrington. Ms. Harrington, age 50, has served as Chief
Financial Officer of First Busey Corporation since March 1999.
David B. White. Mr.
White, age 58, has served as Chief Operating Officer of First Busey Corporation
since August 2007. Previously, Mr. White served as Chief Financial
Officer of Main Street Trust, Inc. from 1993 until its merger with First Busey
on August 1, 2007.
Christopher M.
Shroyer. Mr. Shroyer, age 44, has served as Executive Vice
President of our East Region since early 2009; prior to that he served as
Executive Vice President of our Decatur market following the merger with Main
Street Trust. Prior to the merger, Mr. Shroyer served as Executive
Vice President of Main Street Bank & Trust Commercial Banking from 2004 and
President and Chief Executive Officer of The First National Bank of Decatur (a
subsidiary of Main Street Trust, Inc.) from 2001-2004.
Robert F. Plecki,
Jr. Mr. Plecki, age 49, has served as Executive Vice President
of our southwest Florida market since early 2009; prior to that he served as
Executive Vice President of our Champaign-Urbana market following the merger
with Main Street Trust. Prior to the merger, Mr. Plecki served as
President of Main Street Bank & Trust Retail Banking from 2004 – 2007 and
President of BankIllinois (a subsidiary of Main Street Trust, Inc.) from
2001-2004. Prior to being named President of Bank Illinois, Mr.
Plecki served in various positions within Commercial Banking at BankIllinois
from 1986-1997.
Leanne C.
Heacock. Ms. Heacock, age 44, has served as Executive Vice
President of Information Systems since the merger with Main Street
Trust. Prior to the merger, Ms. Heacock served as Executive
Vice President of Management Information Systems for Main Street Trust from 2001
- 2007.
Howard F. Mooney
II. Mr. Mooney, age 45, has served as President and Chief
Executive Officer of FirsTech, our payment processing subsidiary since
2000. Prior to our August 2007 merger, FirsTech was a subsidiary of
Main Street Trust, Inc.
Signature
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
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Date: March
1, 2010
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First
Busey Corporation
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By: /s/ Van A.
Dukeman
Name: Van
A. Dukeman
Title: President
& Chief Executive Officer