Ownership Submission
FORM 5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Form 3 Holdings Reported
Form 4 Transactions Reported
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

ANNUAL 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
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1. Name and Address of Reporting Person *
LYKINS GREGORY B
 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)

100 WEST UNIVERSITY		 3. Statement for Issuer's Fiscal Year Ended (Month/Day/Year)
12/31/2011
(Street)


CHAMPAIGN, IL 61820		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Reporting
(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 at end of Issuer's Fiscal Year
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Amount (A) or (D) Price
Common Stock 10/05/2011   G 20,000 D $ 0 532,026 (1) D  
Common Stock             41,401 (1) I Gregory B. Lykins ROTH IRA
Common Stock             235.1968 (2) I ESOP Plan
Common Stock             6,718 I Margo Lykins IRA

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 2270 (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 at End of Issuer's Fiscal Year
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
(A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Common Stock $ 12           08/01/2007 03/19/2012 Stock Option
7,750
  7,750
D
 
Common Stock $ 16           08/01/2007 03/18/2013 Stock Option
7,750
  7,750
D
 
Common Stock $ 19.74           08/01/2007 02/17/2014 Stock Option
7,750
  7,750
D
 
Common Stock $ 19.09           08/01/2007 02/15/2015 Stock Option
7,750
  7,750
D
 
Common Stock $ 17.12           05/01/2009 12/15/2015 Stock Option
7,500
  7,500
D
 
Common Stock $ 19.41           08/01/2007 02/21/2016 Stock Option
7,750
  7,750
D
 
Common Stock $ 7.53           06/01/2010 06/30/2019 Stock Option
7,500
  7,500
D
 
Common Stock $ 4.49           06/01/2011 06/01/2020 Stock Option
7,500
  7,500
D
 

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
LYKINS GREGORY B
100 WEST UNIVERSITY
CHAMPAIGN, IL 61820		   X      

Signatures

/s/ Gregory B. Lykins 02/13/2012
**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) On October 3, 2011, Mr. Lykins distributed to himself 20,000 shares of common stock previously held indirectly through the Gregory B. Lykins Roth IRA. Subsequently, on October 5, 2011, Mr. Lykins gifted 20,000 directly-held shares to certain members of his family.
(2) Reflects 154.1968 shares allocated to Mr. Lykins pursuant to an ESOP since the date of his last ownership report.

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