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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1. Name and Address of Reporting Person * SHROYER CHRISTOPHER M   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) President & CEO Busey Bank (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   24,811 (1) A $ 0 37,866 (3) D   Common Stock               323 (2) I ESOP Common Stock               6,699 I Profit Sharing/401(k)

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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

$ 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

Common Stock

$ 16.03

04/16/2003

04/15/2013

Stock Option

1,550

1,550

D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
SHROYER CHRISTOPHER M 100 WEST UNIVERSITY AVENUE CHAMPAIGN, IL 61820			President & CEO Busey Bank

Signatures

/s/ Christopher M. Shroyer		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 of which 14,178 vests in 2 years and 10,633 vests in 5 years.
(2)	Reflects ESOP and 401(k) plan allocations, contributions and dispositions 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 424 shares held by Reporting Person, resulting in a 424 share overstatement of the shares directly held by Reporting Person. The 37,866 shares reported herein correctly reflects the shares directly held by the Reporting Person.

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