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 *
MILLS DOUGLAS 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)
__X__ Director _____ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last)
(First)
(Middle)
2123 SEATON COURT
3. Date of Earliest Transaction (Month/Day/Year)
07/31/2007
(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 Stock 12/14/2007 12/14/2007 D   100,000 D $ 20.85 894,813 I Linda M. Mills Trust dtd 12-18-1989, Douglas C. Mills, Trustee
Common Stock               1,555,000 I Mills Investment LP
Common Stock               39,831.883 I ESOP Plan
Common Stock               12,053.785 I Profit Sharing 401(k) Plan
Common Stock               40,000 I Mills Family Foundation
Common Stock               937,500 I Douglas C. Mills Trust dtd 12-18-1989, Douglas C. Mills, Trustee
Common Stock 07/31/2007 07/31/2007 A(1)   2,421 A $ 19.45 514,197 D  
Common Stock 11/21/2007 11/21/2007 G   600 D $ 20.25 513,597 D  
Common Stock 11/21/2007 11/21/2007 G   360 D $ 20.25 513,237 D  
Common Stock 11/16/2007 11/16/2007 G   28,000 D $ 21.17 485,237 D  

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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
Stock Option $ 20.16             01/26/2009 12/15/2011 Common Stock 15,000   15,000 D  
Stock Option $ 19.59             09/14/2007 09/14/2009 Common Stock 40,000   40,000 D  
Stock Option $ 14.56             04/16/2005 12/16/2010 Common Stock 45,000   45,000 D  

Reporting Owners

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

Signatures

 /s/ Douglas C. Mills   12/18/2007
**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) *Received 2,421 shares of First Busey Corporation Common Stock in exchange for 1.55 shares of Main Street Trust, Inc. Common Stock in connection with the merger of First Busey Corporation and Main Street Trust, Inc. On the effective date of the merger, the closing price of First Busey Corporation was $19.45 and Main Street Trust, Inc. was $30.15.

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