SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person* LYKINS GREGORY B (Last) (First) (Middle) 201 WEST MAIN STREET (Street) URBANA IL 61801 (City) (State) (Zip)	2. Date of Event Requiring Statement (Month/Day/Year) 07/31/2007	3. Issuer Name and Ticker or Trading Symbol FIRST BUSEY CORP /NV/ [ BUSE ]
		4. Relationship of Reporting Person(s) to Issuer (Check all applicable) X Director 10% Owner Officer (give title below) Other (specify below)	5. If Amendment, Date of 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

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common	313,166	D
Common	3,960	I	P/S Plan
Common	73,817	I	S.E. Retirement Plan
Common	71,300	I	IRA
Common	6,523	I	Spouse/IRA
Common	1,000	I	Greg Lykins/Keogh/IRA
Common	157	I	Greg & Margo Lykins Investment Agency Account
Common	195	I	Margo Lykins Traditional/IRA

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option	08/01/2007	04/12/2010	Common Stock	8,544	11.85	D
Stock Option	08/01/2007	03/20/2011	Common Stock	8,138	11.29	D
Stock Option	08/01/2007	03/19/2012	Common Stock	7,750	12	D
Stock Option	08/01/2007	03/18/2013	Common Stock	7,750	16	D
Stock Option	08/01/2007	02/17/2014	Common Stock	7,750	19.74	D
Stock Option	08/01/2007	02/15/2015	Common Stock	7,750	19.09	D
Stock Option	08/01/2007	02/21/2016	Common Stock	7,750	19.41	D

Explanation of Responses:

	/s/ Gregory B. Lykins	08/10/2007
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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