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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 11-K
(Mark One):
XXX ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF
- --- 1934 [FEE REQUIRED]
For the fiscal year ended December 31, 2000
TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT
- --- OF 1934 [NO FEE REQUIRED]
For the transition period from _____________ to _____________
Commission file number 000-20739
A. Full title of the plan and address of the plan, if different from
that of the issuer named below:
FIRST FEDERAL SAVINGS 401(k) PLAN
301 Fairway Drive
Bloomington, IL 61701
B. Name of the issuer of the securities held pursuant to the plan and
the address of its principal executive office:
EAGLE BANCGROUP, INC.
301 Fairway Drive
Bloomington, IL 61701
FIRST FEDERAL SAVINGS 401(K) PLAN
COMPARATIVE STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS
(UNAUDITED)
December 31,
2000 1999
------- -------
ASSETS
Eagle BancGroup, Inc. common stock - -
Shares of registered investment companies 624,478 794,677
Total Investments 624,478 794,677
Cash - -
Money market funds 6,682 8,440
Participant contributions receivable - 4,226
Employer contributions receivable - 28,697
Total Contributions Receivable - 32,923
Net Assets Available for Benefits 631,160 836,040
See accompanying notes.
FIRST FEDERAL SAVINGS 401(K) PLAN
STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS, WITH FUND INFORMATION
(UNAUDITED)
December 31, 2000
Fund 1 Fund 2 Fund 3 Fund 4 Fund 5 Fund 6
------ ------ ------ ------ ------ ------
ASSETS
Eagle BancGroup,
Inc. common
stock - - - - - -
Shares of
registered
investment
companies - - 44,306 1,161 86,755 19,196
Total Investments - - 44,306 1,161 86,755 19,196
Cash - - - - - -
Money market funds - 6,682 - - - -
Participant - - - - - -
Employer - - - - - -
Total Contributions
Receivable - - - - - -
Net Assets
Available for
Benefits - 6,682 44,306 1,161 86,755 19,196
December 31, 2000, continued
Fund 7 Fund 8 Fund 9 Fund 10 Fund 11 Fund 12
------ ------ ------ ------- ------- -------
ASSETS
Eagle BancGroup,
Inc. common
stock - - - - - -
Shares of
registered
investment
companies 51,859 64,470 37,135 276 15,531 30,259
Total Investments 51,859 64,470 37,135 276 15,531 30,259
Cash - - - - - -
Money market funds - - - - - -
Participant - - - - - -
Employer - - - - - -
Total Contributions
Receivable - - - - - -
Net Assets
Available for
Benefits 51,859 64,470 37,135 276 15,531 30,259
December 31, 2000, continued
Fund 13 Fund 14 Fund 15 Fund 16 Fund 17 Total
------- ------- ------- ------- ------- -------
ASSETS
Eagle BancGroup,
Inc. common
stock - - - - - -
Shares of
registered
investment
companies 82,624 77,306 42,927 9,907 60,766 624,478
Total Investments 82,624 77,306 42,927 9,907 60,766 624,478
Cash - - - - - -
Money market funds - - - - - 6,682
Participant - - - - - -
Employer - - - - - -
Total Contributions
Receivable - - - - - -
Net Assets
Available for
Benefits 82,824 77,306 42,927 9,907 60,766 631,160
See accompanying notes.
FIRST FEDERAL SAVINGS 401(K) PLAN
STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS, WITH FUND INFORMATION
(UNAUDITED)
December 31, 1999
Fund 1 Fund 2 Fund 3 Fund 4 Fund 5 Fund 6
------- ------- ------- ------- ------- -------
ASSETS
Eagle BancGroup,
Inc. common
stock - - - - - -
Shares of
registered
investment
companies - - 50,814 1,356 111,518 24,064
Total Investments - - 50,814 1,356 111,518 24,064
Cash - - - - - -
Money market funds - 8,440 - - - -
Participant - - 84 26 582 104
Employer - - 748 255 4,171 726
Total Contributions
Receivable - - 832 281 4,753 830
Net Assets
Available for
Benefits - 8,440 51,646 1,637 116,271 24,894
December 31, 1999, continued
Fund 7 Fund 8 Fund 9 Fund 10 Fund 11 Fund 12
------- ------- ------- ------- ------- -------
ASSETS
Eagle BancGroup,
Inc. common
stock - - - - - -
Shares of
registered
investment
companies 61,362 71,665 37,670 204 15,899 31,579
Total Investments 61,362 71,665 37,670 204 15,899 31,579
Cash - - - - - -
Money market funds - - - - - -
Participant 281 511 342 8 154 305
Employer 2,474 3,580 913 100 969 1,721
Total Contributions
Receivable 2,755 4,091 1,255 108 1,123 2,026
Net Assets
Available for
Benefits 64,117 75,756 38,925 312 17,022 33,605
December 31, 1999, continued
Fund 13 Fund 14 Fund 15 Fund 16 Fund 17 Total
------- ------- ------- ------- ------- -------
ASSETS
Eagle BancGroup,
Inc. common
stock - - - - - -
Shares of
registered
investment
companies 85,202 95,279 55,615 11,795 140,655 794,677
Total Investments 85,202 95,279 55,615 11,795 140,655 794,677
Cash - - - - - -
Money market funds - - - - - 8,440
Participant 440 592 458 86 253 4,226
Employer 2,984 4,390 3,243 388 2,035 28,697
Total Contributions
Receivable 3,424 4,982 3,701 474 2,288 32,923
Net Assets
Available for
Benefits 88,626 100,261 59,316 12,269 142,943 836,040
See accompanying notes.
First Federal Savings 401(k) Plan
Statement of Changes in Net Assets Available for Plan Benefits
(Unaudited)
For the Year Ended December 31, 2000
Fund 1 Fund 2 Fund 3 Fund 4 Fund 5 Fund 6
------- ------- ------- ------- ------- -------
Unrealized Appreciation
(Depreciation) on
Investments - (1,695) 1,532 (195) (8,599) 2,063
Contributions:
Participant - - - - - -
Employer - 480 2,074 - - -
Total Contributions - 480 2,074 - - -
Total Additions - (1,215) 3,606 (195) (8,599) 2,063
Deductions:
Forfeitures - (1,954) 145 108 119 98
Benefits paid to
participants - 2,497 10,801 173 20,798 7,663
Total Deductions - 543 10,946 281 20,917 7,761
Interfund transfers - - - - - -
Net Assets Available
for Benefits:
Beginning of Period - 8,440 51,646 1,637 116,271 24,894
End of Period - 6,682 44,306 1,161 86,755 19,196
For the Year Ended December 31, 2000, continued
Fund 7 Fund 8 Fund 9 Fund 10 Fund 11 Fund 12
------- ------- ------- ------- ------- -------
Unrealized Appreciation
(Depreciation) on
Investments 3,632 2,715 2,064 (36) (632) 2,256
Contributions:
Participant - - - - - -
Employer - - - - - -
Total Contributions - - - - - -
Total Additions 3,632 2,715 2,064 (36) (632) 2,256
Deductions:
Forfeitures 560 171 323 - 70 162
Benefits paid to
participants 15,330 13,830 3,531 - 789 5,440
Total Deductions 15,890 14,001 3,854 - 859 5,602
Interfund transfers - - - - - -
Net Assets Available
for Benefits:
Beginning of Period 64,117 75,756 38,925 312 17,022 33,605
End of Period 51,859 64,470 37,135 276 15,531 30,359
For the Year Ended December 31, 2000, continued
Fund 13 Fund 14 Fund 15 Fund 16 Fund 17 Total
------- ------- ------- ------- ------- -------
Unrealized Appreciation
(Depreciation) on
Investments 588 5,227 (8,931) (2,362) (57,033) (59,406)
Contributions:
Participant - - - - - -
Employer - - - - - 2,554
Total Contributions - - - - - 2,554
Total Additions 588 5,227 (8,931) (2,362) (57,033) (56,852)
Deductions:
Forfeitures 240 269 167 - 66 544
Benefits paid to
participants 6,350 27,913 7,291 - 25,078 147,484
Total Deductions 6,590 28,182 7,458 - 25,144 148,028
Interfund transfers - - - - - -
Net Assets Available
for Benefits:
Beginning of Period 88,626 100,261 59,316 12,269 142,943 836,040
End of Period 82,624 77,306 42,927 9,907 60,766 631,160
See accompanying notes.
First Federal Savings 401(k) Plan
Statement of Changes in Net Assets Available for Plan Benefits
(Unaudited)
For the Year Ended December 31, 1999
Fund 1 Fund 2 Fund 3 Fund 4 Fund 5 Fund 6
------- ------- ------- ------- ------- -------
Unrealized Appreciation
(Depreciation) on
Investments 12,965 255 2,411 384 52,589 7,039
Contributions:
Participant - 2,287 2,938 370 15,162 2,547
Employer - - 748 255 4,171 726
Total Contributions - 2,287 3,686 625 19,333 3,273
Total Additions 12,965 2,542 6,097 1,009 71,922 10,312
Deductions:
Forfeitures - (1,627) - - 298 79
Benefits paid to
participants 17,330 - 1,580 - 18,466 2,669
Total Deductions 17,330 (1,627) 1,580 - 18,764 2,748
Interfund transfers (61,158) (47) 3,386 62 6,453 3,858
Net Assets Available
for Benefits:
Beginning of Period 65,523 4,318 43,743 566 56,660 13,472
End of Period - 8,440 51,646 1,637 116,271 24,894
For the Year Ended December 31, 1999, continued
Fund 7 Fund 8 Fund 9 Fund 10 Fund 11 Fund 12
------- ------- ------- ------- ------- -------
Unrealized Appreciation
(Depreciation) on
Investments (404) (3,000) 3,049 20 (944) 3,326
Contributions:
Participant 6,922 12,617 4,346 192 3,032 5,341
Employer 2,473 3,580 914 100 969 1,721
Total Contributions 9,395 16,197 5,260 292 4,001 7,062
Total Additions 8,991 13,197 8,309 312 3,057 10,388
Deductions:
Forfeitures - 263 - - 112 121
Benefits paid to
participants 4,164 12,060 - - 3,266 4,286
Total Deductions 4,164 12,323 - - 3,378 4,407
Interfund transfers 4,064 12,227 186 - 4,269 4,734
Net Assets Available
for Benefits:
Beginning of Period 55,226 62,655 30,430 - 13,074 22,890
End of Period 64,117 75,756 38,925 312 17,022 33,605
For the Year Ended December 31, 2000, continued
Fund 13 Fund 14 Fund 15 Fund 16 Fund 17 Total
------- ------- ------- ------- ------- -------
Unrealized Appreciation
(Depreciation) on
Investments 27,453 25,945 5,011 2,480 96,643 235,222
Contributions:
Participant 10,633 15,654 10,988 1,380 8,095 102,504
Employer 2,984 4,390 3,243 388 2,035 28,697
Total Contributions 13,617 20,044 14,231 1,768 10,130 131,201
Total Additions 41,070 45,989 19,242 4,248 106,773 366,423
Deductions:
Forfeitures 107 228 245 - 174 -
Benefits paid to
participants 10,683 14,465 13,646 - 16,579 119,194
Total Deductions 10,790 14,693 13,891 - 16,753 119,194
Interfund transfers 2,311 10,182 6,682 177 3,771 1,157
Net Assets Available
for Benefits:
Beginning of Period 56,035 58,783 47,283 7,844 49,152 587,654
End of Period 88,626 100,261 59,316 12,269 142,943 836,040
FIRST FEDERAL SAVINGS 401(K) PLAN
NOTES TO FINANCIAL STATEMENTS
NOTE 1. DESCRIPTION OF THE PLAN
The following description of the First Federal Savings 401(k) Plan (the
"Plan") provides only general information. Participants should refer to the
Summary Plan Description for a more complete description of the Plan's
provisions.
GENERAL
The Plan is a profit sharing plan with a cash or deferred arrangement
established in accordance with the requirements of Sections 401(a) and 401(k) of
the Internal Revenue Code. The Plan is subject to the provisions of ERISA.
Substantially all employees of First Federal Savings were covered by the plan.
David R. Wampler, President of Busey Bank, fsb, is Trustee of the Plan. Mr.
Wampler was named Trustee on October 29, 1999 following the resignation of
Donald L. Fernandes, who had been Chairman of the Board and CEO of First Federal
Savings and Trustee of the Plan.
Eagle BancGroup, Inc., First Federal Savings parent company, was acquired
by First Busey Corp. on October 29, 1999. As a result of this transaction,
First Federal Savings 401(k) plan was terminated as of January 1, 2000. No
contributions for years after 1999 will be allowed in the plan. All participant
accounts will be rolled over into the First Busey Corp. Profit Sharing Plan and
Trust pending favorable determination by the IRS of the income tax treatment of
the proposed rollover transaction. The rollover transaction is expected to
occur in the year 2001. First Federal Savings became Busey Bank, fsb in June,
2000.
ELIGIBILITY
Each employee of First Federal Savings was eligible to participate in the
Plan on the next January 1 or July 1 following or coinciding with the employee
attaining the age of twenty and one-half years and completing six months of
service. As of January 1, 2000, there were 49 employees eligible to participate
in the Plan with 37 employees actually participating. Since the Plan was
terminated as of January 1, 2000, no additional participants will be allowed in
the Plan.
CONTRIBUTIONS
Participants could elect to reduce pretax compensation from 1 to 15% and
have that amount contributed to the Plan. Rollover contributions from other
plans could also be made subject to approval of the Plan Administrator and to
compliance with IRS regulations. In addition, the Board of Directors of First
Federal Savings elected to make matching contributions to the Plan to eligible
participants on the last day of the fiscal year. For 1999, First Federal
Savings matched 100% of the first $250 and 50% of the next $1,500 of eligible
participant contributions. Participants elected their contribution percentage
when initially eligible to participate and could modify or terminate their
contribution percentage as of the first day of each calendar quarter thereafter.
Since the Plan was terminated as of January 1, 2000, no employer contributions
were made to plan for 2000.
PARTICIPANT ACCOUNTS
Each participant's account is credited with the participant's
contributions, First Federal Savings' matching and discretionary contributions
and Plan earnings.
VESTING
Participants are at all times fully vested in their contributions and the
earnings thereon and fully vest in employer contributions and earnings thereon
after six years of qualified service based on vesting 20% after each of the
second through sixth years of qualified service. A year of qualified service is
earned in each 12 month period in which the participant complets at least 501
hours of service. Generally, vesting is accelerated upon retirement or due to
death or disability of the participant. Due to the Plan's termination as of
January 1, 2000, all participants will become fully vested in all funds in their
respective accounts when the rollover transaction to the First Busey Corp.
Profit Sharing Plan and Trust plan occurs.
PLAN ADMINISTRATOR
As of January 1, 1998, the Plan Administrator changed from Bankers Systems
Inc. to McGladrey & Pullen, LLP. Plan investments, with the exception of Eagle
BancGroup, Inc. common stock, are maintained by First Mercantile Trust Company.
Investments in Eagle BancGroup, Inc. common stock were maintained by the plan
trustee. Bankers Systems Inc. had been Plan Administrator since 1996.
INVESTMENT OPTIONS
Participants could elect to direct the investment of any or all of their
accounts under the Plan. Prior to September, 1998, participants could invest up
to 50% of their account in the common stock of Eagle BancGroup, Inc., the
holding company that owned First Federal Savings until October 29, 1999. After
September, 1998, no new purchases of Eagle stock were allowed but
previously purchased shares were held in participant accounts until all Eagle
shares were redeemed in November, 1999. Participants could also invest in any
combination of 16 mutual funds directed by various registered investment
companies offered through First Mercantile Trust Company. Since the Plan was
terminated as of January 1, 2000, participants have been allowed to change their
account investments, which remain at First Mercantile pending rollover to the
First Busey Corporation Profit Sharing Plan and Trust. The fund numbers listed
as part of the following brief fund descriptions correspond to the financial
statements presented in this report.
Fund 1: Eagle BancGroup, Inc. Common Stock
Fund 2: First Mercantile Money Market Fund
Fund 3: LaSalle National Trust - guaranteed investment contracts
Fund 4: Simms Capital - global stock funds
Fund 5: Navellier & Associates - growth stocks
Fund 6: Miller/Howard Investments - utilities
Fund 7: Colony Capital - government bonds
Fund 8: Key Asset Management - value stocks
Fund 9: Highland Capital Management - growth stocks and bonds
Fund 10: Sector Capital - core stocks
Fund 11: T. Rowe Price - international bonds
Fund 12: Rorer Asset Management - value stocks
Fund 13: Brandes Investment Partners - international equity
Fund 14: Frontier Capital Management - growth stocks
Fund 15: Dresdner RCM - large growth stocks
Fund 16: Roger Engemann & Associates - growth stocks
Fund 17: Amerindo Investment Advisors - bio-tech stocks
Participants may change their investment options quarterly.
PAYMENT OF BENEFITS
Benefits payable to a participant include the sum of their salary deferral,
rollover contributions, vested share of employer contributions and net earnings
on the investment of such amounts through the date of valuation. Benefits are
payable to participants as a result of termination of employment, death or under
certain hardship conditions. Following termination of employment or death,
benefits can be paid in a lump sum, in two or more annual installments, in a
nontransferable annuity contract or rolled into another qualified plan. If the
vested portion of the Participant's account is less than $3,500, payment is
generally made in a lump sum. If the vested portion of the Participant's
Accounts exceeds $3,500, no distribution generally will be made if the
Participant has not attained age 65 unless the Participant consents to an
earlier distribution.
Benefits will be paid to the designated beneficiary in the event of a
Participant's death. If married, the Participant's spouse shall be the
beneficiary unless the spouse has agreed to another beneficiary.
Participants could be permitted to make a withdrawal of their contributions
and employer contributions, not including earnings on such funds, under certain
conditions, including payment of medical expenses, purchase of a principal
residence and payment of tuition and related fees for post secondary education.
Certain conditions had to be met before such withdrawals and participant
contributions were suspended for twelve months following such withdrawals.
NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
BASIS OF ACCOUNTING
The financial statements of the Plan have been prepared on the accrual
basis.
USE OF ESTIMATES
The preparation of financial statements in conformity with generally
accepted accounting principles requires the plan administrator to make estimates
and assumptions that affect certain reported amounts and disclosures.
Accordingly, actual results may differ from those estimates.
INVESTMENT VALUATION AND INCOME RECOGNITION
Shares in registered investment companies are carried at aggregate current
value with the difference between cost and current value reflected in the
statement of changes in net assets available for benefits as unrealized
appreciation or depreciation of investments. Market values of shares in
registered investment companies are based on the quoted net asset value
(redemption value) of the investment company at year end. Investment in Eagle
BancGroup, Inc. common stock was carried at quoted market prices prior to
October 29, 1999, when all shares were redeemed following First Busey's cash
acquisition of Eagle.
WITHDRAWALS AND FORFEITURES
Participants who withdrew from the Plan forfeited any unvested amounts in
their accounts. Forfeiture amounts were allocated to all other participants in
addition to any amounts contributed by the Employer.
ADMINISTRATIVE EXPENSES
Administrative expenses are generally paid by the Employer.
NOTE 3. INVESTMENTS
The Plan Administrator holds the Plan's investments and executes all of the
Plan's transactions related to all funds except the Eagle BancGroup, Inc. common
stock. Transactions related to Eagle BancGroup, Inc. common stock were executed
by PrimeVest Financial Services, Inc. ("PrimeVest") at the direction of the Plan
Trustee. PrimeVest maintained the holdings of Eagle BancGroup, Inc. common
stock prior to the October 29, 1999 redemption of Eagle stock. Financial
information with respect to investments held at December 31, 2000 and 1999 was
provided by First Mercantile Trust Company. The financial information presented
has not been audited by independent auditors. Investments that represent 5% or
more of the Plan's net assets are identified with an asterisk (*).
First Mercantile Trust Company continually monitors the performance of the
registered investment companies. As results warrant, holdings may be moved from
an underperforming registered investment company to a new registered investment
company with the same primary investment strategy (i.e. government bonds, growth
stocks, etc.). In 2000, two such changes were made. Fund 8 was changed from
Trinity Investment Management to Key Asset Management and Fund 15 was changed
from Rittenhouse to Dresdner RCM.
December 31, 2000 Fair Appreciation
Units Cost Value (Depreciation)
--------- -------- -------- --------------
Common Stock:
Fund 1-Eagle BancGroup stock 0.00 -0- -0- -0-
(no participants)
Registered Investment Companies:
Fund 3-LaSalle National Trust* 2180.09 35,308 44,306 8,998
(9 participants)
Fund 4-Simms Capital 39.30 846 1,161 315
(2 participants)
Fund 5-Navellier & Associates* 1452.73 51,147 86,755 35,608
(23 participants)
Fund 6-Miller/Howard Investments 496.68 10,289 19,196 8,907
(13 participants)
Fund 7-Colony Capital* 2696.58 44,102 51,859 7,756
(7 participants)
Fund 8-Key Asset Mgt* 2961.07 53,420 64,470 11,050
(33 participants)
Fund 9-Highland Capital Mgt* 1083.77 25,094 37,135 12,041
(3 participants)
Fund 10-Sector Capital 11.62 292 276 (16)
(1 participant)
Fund 11-T. Rowe Price 1448.67 15,876 15,531 (346)
(13 participants)
Fund 12-Rorer Asset Mgt 941.50 23,352 30,259 6,907
(15 participants)
Fund 13-Brandes Investment* 3363.58 48,474 82,624 34,150
(28 participants)
Fund 14-Frontier Capital Mgt* 1864.73 51,784 77,306 25,522
(29 participants)
Fund 15-Dresdner* 953.35 38,560 42,928 4,367
(23 participants)
Fund 16-Roger Engemann & Assoc 412.56 7,129 9,907 2,777
(4 participants)
Fund 17-Amerindo Investment
Advisors 3749.68 27,959 60,766 32,807
(22 participants)
Total Investments 433,634 624,478 190,844
======== ======== =======
December 31, 1999 Fair Appreciation
Units Cost Value (Depreciation)
--------- -------- -------- --------------
Common Stock:
Fund 1-Eagle BancGroup stock 0.00 -0- -0- -0-
(no participants)
Registered Investment Companies:
Fund 3-LaSalle National Trust* 2637.80 43,590 50,814 7,224
(11 participants)
Fund 4-Simms Capital 39.01 814 1,356 542
(3 participants)
Fund 5-Navellier & Associates* 1645.18 54,842 111,518 56,676
(26 participants)
Fund 6-Miller/Howard Investments 690.41 14,459 24,064 9,605
(16 participants)
Fund 7-Colony Capital* 3416.51 56,755 61,362 4,607
(10 participants)
Fund 8-Trinity Investment Mgt* 3458.72 62,752 71,665 8,913
(35 participants)
Fund 9-Highland Capital Mgt 1163.61 27,344 37,670 10,326
(5 participants)
Fund 10-Sector Capital 7.52 184 204 20
(1 participant)
Fund 11-T. Rowe Price 1425.01 15,637 15,899 262
(16 participants)
Fund 12-Rorer Asset Mgt 1046.14 25,808 31,579 5,771
(19 participants)
Fund 13-Brandes Investment* 3491.57 49,021 85,202 36,181
(33 participants)
Fund 14-Frontier Capital Mgt* 2389.95 64,367 95,279 30,912
(34 participants)
Fund 15-Rittenhouse* 1020.25 40,203 55,615 15,412
(27 participants)
Fund 16-Roger Engemann & Assoc 396.02 6,655 11,795 5,140
(4 participants)
Fund 17-Amerindo Investment
Advisors* 458.52 32,402 140,655 108,253
(25 participants)
Total Investments 494,833 794,677 299,843
======= ======= =======
NOTE 4. INCOME TAX STATUS
The Internal Revenue Service had ruled that the Plan qualified under
Section 401(a) of the Internal Revenue Code and was, therefore, not subject to
tax under present income tax laws. Once qualified, the Plan was required to
operate in conformity with the Internal Revenue Code to maintain its
qualification. Neither the Plan Administrator nor the Plan Trustee is aware of
any course of action or series of events that have occurred that might adversely
affect the qualified status of the Plan.
The First Busey Corporation Profit Sharing Plan and Trust is also a
qualified plan. Participant accounts rolled from the Plan to the First Busey
plan are not expected to be subject to tax under present income tax laws.
NOTE 5. TRANSACTIONS WITH PARTIES-IN-INTEREST
On October 29, 1999, Eagle BancGroup, Inc., parent of First Federal
Savings, was acquired for cash by First Busey Corp. In November, 1999, 2,376
shares of Eagle owned by the Plan were redeemed and the proceeds were rolled
into the other registered investment companies in the Plan. Prior to the
redemption, 839.50 shares were distributed to participants who had withdrawn
from the Plan earlier in 1999. No shares were purchased by the Plan in 1999 as
the Plan ceased to allow participants to purchase Eagle stock after September,
1998.
NOTE 6. PLAN TERMINATION
As previously noted, as of January 1, 2000, the Plan has been terminated.
Participant accounts will be rolled into the First Busey Corporation Profit
Sharing Plan and Trust subject to regulatory approval.
FIRST FEDERAL SAVINGS 401(K) PLAN
SCHEDULE OF REPORTABLE TRANSACTIONS
YEAR ENDED DECEMBER 31, 2000
(UNAUDITED)
Item 27(d)
Category (i) - Single transaction in excess of 5% of plan assets
NONE
Category (ii) - Series of transactions other than securities transactions
NONE
Category (iii) - A series of transactions in excess of 5% of plan assets
NONE
Category (iv) - Transactions with or in conjunction with a person if any single
transaction with that person is in excess of 5%
NONE
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned duly authorized.
FIRST FEDERAL SAVINGS 401(K) PLAN
DATE: June 27, 2001 /s/ David R. Wampler
---------------------------------
David R. Wampler
Trustee