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 * MILLS LINDA 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 __X__ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) 2123 SEATON COURT 3. Date of Earliest Transaction (Month/Day/Year) 05/13/2005 (Street) CHAMPAIGN, IL 61821 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 05/13/2005 05/13/2005 M   4,500 A $ 11.92 1,038,013 D   Common               30,000 I Mills Family Foundation (1) Common               1,512,511 I Spouse Common               38,420.2403 I ESOP Plan Common               9,292.7949 I 401(k)/Profit Sharing Plan Common               1,550,363.8254 I Mills Investment LP (2)

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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

$ 11.92

05/13/2005

05/13/2005

M

4,500

01/15/2002

12/15/2005

Common

4,500

$ 11.92

0

D

Common

$ 18.07

01/21/2005

12/15/2008

Common

4,500

4,500

D

Common

$ 19.59

09/14/2007

09/14/2009

Common

40,000

40,000

I

Spouse

Common

$ 11.92

01/15/2002

12/15/2005

Common

22,500

22,500

I

Spouse

Common

$ 14.56

04/16/2004

12/16/2010

Common

45,000

45,000

I

Spouse

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
MILLS LINDA M 2123 SEATON COURT CHAMPAIGN, IL 61821		X

Signatures

Barbara J. Kuhl - POA		05/16/2005
**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)	Linda M. Mills is President of the Mills Family Foundation
(2)	Mrs. Mills spouse is general partner for Mills Investment LP

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