Exhibit 99.1

            First Busey Closes $15 Million Trust Preferred Offering

    URBANA, Ill., May 4 /PRNewswire-FirstCall/ -- First Busey Corporation
(Nasdaq: BUSE) on April 30, 2004 received $15 million in proceeds as part of a
pooled Trust Preferred program.  Keefe Bruyette & Woods Inc. and FTN Financial
Capital Markets served as placement agents in the offering.  Howe Barnes
Investments, Inc. acted as a financial advisor on the transaction.

    The proceeds, which are expected to qualify as Tier 1 Capital for regulatory
purposes, will be used to partially fund a pending acquisition by First Busey.

    First Busey Corporation is a financial holding company headquartered in
Urbana, Illinois.  First Busey Corporation has two wholly owned banking
subsidiaries with locations in three states.  Busey Bank is headquartered in
Urbana, Illinois and has eighteen banking centers serving Champaign, McLean and
Ford Counties in Illinois.  Busey Bank also has a banking center in
Indianapolis, Indiana and a loan production office in Ft. Myers, Florida.  Total
assets of Busey Bank were $1.4 billion as of March 31, 2004.  Busey Bank Florida
is a federal thrift headquartered in Ft. Myers, Florida with two banking centers
located in Cape Coral, Florida.  Total assets of Busey Bank Florida were
$117 million as of March 31, 2004.  Busey provides electronic delivery of
financial services through Busey e-bank, www.busey.com .

    Busey Investment Group is a wholly owned subsidiary of First Busey
Corporation and owns three subsidiaries.  First Busey Trust & Investment Co.
specializes in asset management and trust services with approximately
$1.25 billion in assets under care.  First Busey Securities, Inc. (member
NASD/SIPC) is a full-service broker/dealer subsidiary with more than
$600 million in assets under care.  Busey Insurance Services, Inc. provides
personal insurance products and specializes in long-term healthcare insurance.

SOURCE  First Busey Corporation
    -0-                             05/04/2004
    /CONTACT:  Barbara J. Kuhl, President, of First Busey Corporation,
+1-217-365-4513/
    /Web site:  http://www.busey.com /
    (BUSE)

CO:  First Busey Corporation
ST:  Illinois
IN:  FIN
SU:  OFR