Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
HEACOCK LEANNE C
  2. Issuer Name and Ticker or Trading Symbol
FIRST BUSEY CORP /NV/ [BUSE]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Chief Information Officer
(Last)
(First)
(Middle)
100 WEST UNIVERSITY AVENUE
3. Date of Earliest Transaction (Month/Day/Year)
07/13/2011
(Street)

CHAMPAIGN, IL 61820
4. If Amendment, Date Original Filed(Month/Day/Year)
6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 07/13/2011   A   9,452 (1) A $ 0 25,133 (3) D  
Common Stock               3,500 I IRA
Common Stock               295 (2) I ESOP

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(Month/Day/Year)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Common Stock $ 12             03/20/2002 03/19/2012 Stock Option 4,650   4,650 D  
Common Stock $ 16             03/19/2003 03/18/2013 Stock Option 4,650   4,650 D  
Common Stock $ 16.03             04/16/2003 04/15/2013 Stock Option 1,550   1,550 D  
Common Stock $ 19.74             02/18/2004 02/17/2014 Stock Option 6,200   6,200 D  
Common Stock $ 19.09             02/16/2005 02/15/2015 Stock Option 6,200   6,200 D  
Common Stock $ 19.41             02/22/2006 02/21/2016 Stock Option 6,200   6,200 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
HEACOCK LEANNE C
100 WEST UNIVERSITY AVENUE
CHAMPAIGN, IL 61820
      Chief Information Officer  

Signatures

 /s/ Leanne C. Heacock   07/15/2011
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Represents a grant by the Board of Directors of Restricted Stock Units which vest after 5 years.
(2) Reflects ESOP allocations that have occurred since the Reporting Person's most recent ownership report.
(3) Reporting Person's Form 4 filed July 14, 2010 inadvertently, double-reported 5,155 shares held by the Reporting Person, resulting in a 5,155 share overstatement of the shares directly held by Reporting Person. The 25,133 shares reported herein correctly reflects the shares directly held by the Reporting Person.

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