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) 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

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

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.

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.