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

OMB APPROVAL OMB Number: 3235-0287 Expires: January 31, 2005 Estimated average burden hours per response... 0.5

(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) 100 WEST UNIVERSITY 3. Date of Earliest Transaction (Month/Day/Year) 10/29/2009 (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               894,813 I Linda M. Mills Trust dtd 12/18/1989, Douglas C. Mills, Trustee Common Stock               1,565,000 I Mills Investment LP Common Stock               39,924 I ESOP Plan Common Stock               15,812 I Profit Sharing 401(k) Plan Common Stock               936,300 I Douglas C. Mills Trust dtd 12/18/1989, Douglas C. Mills, Trustee Common Stock               41,000 I Mills Family Foundation Common Stock               481,737 D

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
	Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.		SEC 1474 (9-02)

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

$ 20.16

01/26/2009

12/15/2011

Stock Option

15,000

15,000

D

Common Stock

$ 14.56

04/16/2005

12/16/2010

Stock Option

45,000

45,000

D

Common Stock

$ 17.12

05/01/2009

12/15/2015

Stock Option

7,500

7,500

D

Common Stock

$ 7.53

06/01/2010

06/30/2019

Stock Option

7,500

7,500

D

Series A Convertible Preferred Stock

(1)

10/29/2009

P

5.622

(1)

(1)

Common

(1)

$ 100,000

5.622

I

Mills Investment LP

Series A Convertible Preferred Stock

(2)

10/29/2009

P

8.063

(2)

(2)

Common

(2)

$ 100,000

8.063

I

Linda M. Mills Marital Trust

Series A Convertible Preferred Stock

(3)

10/29/2009

P

1.314

(3)

(3)

Common

(3)

$ 100,000

1.314

I

Linda M. Mills GST Marital Trust

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
MILLS DOUGLAS C 100 WEST UNIVERSITY CHAMPAIGN, IL 61820	X

Signatures

/s/ Douglas C. Mills		11/02/2009
**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)	On October 29, 2009, the identified entity purchased 5.622 shares of Series A Convertible Preferred Stock ("Preferred Stock") from the Company. The Preferred Stock is perpetual and each share has a liquidation preference of $100,000. The Preferred Stock is mandatorily convertible into shares of common stock at a conversion price of $4.00. The shares of Preferred Stock will convert automatically following Stockholder approval of the conversion. The Company is holding a Special Meeting of Stockholders on December 2, 2009 for that purpose. Therefore, if Stockholder approval is received at the Special Meeting, the identified entity will receive 140,552 shares of common stock upon the conversion of the Preferred Stock.
(2)	On October 29, 2009, the identified entity purchased 8.063 shares of Series A Convertible Preferred Stock ("Preferred Stock") from the Company. The Preferred Stock is perpetual and each share has a liquidation preference of $100,000. The Preferred Stock is mandatorily convertible into shares of common stock at a conversion price of $4.00. The shares of Preferred Stock will convert automatically following Stockholder approval of the conversion. The Company is holding a Special Meeting of Stockholders on December 2, 2009 for that purpose. Therefore, if Stockholder approval is received at the Special Meeting, the identified entity will receive 201,596 shares of common stock upon the conversion of the Preferred Stock.
(3)	On October 29, 2009, the identified entity purchased 1.314 shares of Series A Convertible Preferred Stock ("Preferred Stock") from the Company. The Preferred Stock is perpetual and each share has a liquidation preference of $100,000. The Preferred Stock is mandatorily convertible into shares of common stock at a conversion price of $4.00. The shares of Preferred Stock will convert automatically following Stockholder approval of the conversion. The Company is holding a Special Meeting of Stockholders on December 2, 2009 for that purpose. Therefore, if Stockholder approval is received at the Special Meeting, the identified entity will receive 32,852 shares of common stock upon the conversion of the Preferred Stock.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.