SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* MILLS DOUGLAS C (Last) (First) (Middle) 2123 SEATON COURT (Street) CHAMPAIGN IL 61821 (City) (State) (Zip)	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 X 10% Owner X Officer (give title below) Other (specify below) Chairman of the Board
	3. Date of Earliest Transaction (Month/Day/Year) 10/27/2003
	4. 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 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	10/27/2003		M		16,000	A	$12.13	1,000,423	D
Common	10/27/2003		M		4,642	A	$16.75	1,005,065	D
Common								4,830	D
Common								25,376.2124	D
Common								15,000	I	Mills Family Foundation(1)
Common								1,000,000	I	Mills Investment(2)
Common								686,009	I	Spouse

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 Securities Underlying Derivative Security (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: 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	$12.13	10/27/2003	10/27/2003	M			16,000	01/01/2002	12/31/2003	Common	16,000	$12.13	0	D
Stock Option	$16.75	10/27/2003	10/27/2003	M			4,642	07/01/2003	09/30/2004	Common	4,642	$16.75	0	D
Stock Option	$20.0625							01/16/2001	12/15/2004	Common	15,000		15,000	D
Stock Option	$17.875							01/15/2002	12/15/2005	Common	15,000		15,000	D
Stock Option	$21.839							04/16/2004	12/16/2010	Common	30,000		30,000	D
Stock Option	$20.0625							01/16/2001	02/15/2004	Common	3,000		3,000	I	Spouse
Stock Option	$17.875							01/15/2002	12/15/2005	Common	3,000		3,000	I	Spouse

Explanation of Responses:

1. Mr. Mills' spouse is President of Mills Family Foundation

2. Douglas C. Mills is the general partner for Mills Investment

	Nicole M. Warren - Power of Attorney	10/28/2003
	** 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 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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 Number.