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

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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(Print or Type Responses)
1. Name and Address of Reporting Person *
MILLS DOUGLAS C
   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, President & CEO
(Last)
(First)
(Middle)
2123 SEATON COURT		 3. Date of Earliest Transaction (Month/Day/Year)
05/05/2006
(Street)

CHAMPAIGN, IL 61821		 4. If Amendment, Date Original Filed(Month/Day/Year)
05/18/2006		 6. Individual or Joint/Group Filing(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 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 Stock 06/13/2006   G   1,025 D $ 0 1,489,162 D  
Common Stock 05/05/2006   G   5,000 A $ 0 35,000 I Mills Family Foundation (2) (3)
Common Stock               1,555,000.8 I Mills Investment LP (1)
Common Stock               38,420.2403 I ESOP Plan
Common Stock               9,292.7949 I 401 (k)/Profit Sharing Plan
Common Stock               1,038,013 I Spouse

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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 Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: 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 $ 20.16             01/26/2009 12/15/2011 Common Stock 15,000   15,000 D  
Stock Option $ 19.59             09/14/2007 09/14/2009 Common Stock 40,000   40,000 D  
Stock Option $ 14.56             04/16/2005 12/16/2010 Common Stock 45,000   45,000 D  
Stock Option $ 18.07             01/21/2005 12/15/2008 Common Stock 4,500   4,500 I Spouse
Stock Option $ 19.83             01/21/2006 12/15/2009 Common Stock 3,000   3,000 I Spouse
Stock Option $ 20.71             01/26/2009 12/15/2011 Common Stock 3,000   3,000 I Spouse

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
MILLS DOUGLAS C
2123 SEATON COURT
CHAMPAIGN, IL 61821		   X   X   Chairman, President & CEO  

Signatures

 /s/ Douglas C. Mills   07/25/2006
**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) Douglas C. Mills is the general partner for Mills Investment LP
(2) Mr. Mills' spouse stepped down as President of Mills Family Foundation on May 23, 2006. Mr. Mills currently serves as a Board member of the Mills Family Foundation.
(3) On May 5, 2006, a Form 4 was filed for Mr. Mills indicating the gifting of 6,000 shares. 1,000 shares were gifted to a third party individual and 5,000 shares were gifted to the Mills Family Foundation which should have been reflected on Mr. Mills' Form 4 filing. No new shares have been gifted since May 5, 2006.

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