BARACK FERRAZZANO Financial Institutions Group

CHI 11/26/2019

I Cindy C. Wang I Paralegal I T. 312.984.3225 I [email protected]

November 25, 2019 VIA MESSENGER

Mr. John P. Henrie Acting Regional Director Federal Deposit Insurance Corporation 300 South Riverside Plaza, Suite 1700 Chicago, Illinois 60606

Re: Interagency Bank Merger Act Application Busey Bank, Champaign, Illinois Dissolution of Mid Illinois Insurance Services, Inc.

Dear Mr. Henrie:

Enclosed for filing with the Federal Deposit Insurance Corporation (the "FDIC") are an original and five copies of the Interagency Bank Merger Act Application (the "Application") requesting approval for Busey Bank, an Illinois state bank with its main office located in Champaign, Illinois (the "Bank"), to assume the assets andliabilitiesof Mid IllinoisInsurance Services,Inc.,anIllinoiscorporation (the "Subsidiary"), following the dissolution of the Subsidiary. The required legal notice of the filing of the Application will be published on November 26, December 10, and December 21, 2019 in The News -Gazette, which has general circulation in Champaign, Illinois, and on November 26, December 10, and December 21, 2019, in the Peoria Journal Star, which has a general circulation in Peoria, Illinois. A copy of the notice is enclosed for your information.

If there are any questions regarding the Application or any additional information or documents that are required, please contact the undersigned at (312) 984-3225. Thank you for your attention to this matter.

Very truly yours,

Enclosures cc (w/encl.): Mr. Michael Peluso Robert M. Fleetwood, Esq.

Barack Ferrazzano Kirschbaum & Nagelberg LLP

200 West Madison Street, Suite 3900 I Chicago, Illinois 60606 I T. 312.984.3100 I F. 312.984.3150 I bfkn.com

1696505.v1 NOTICE OF DISSOLUTION OF BANK SUBSIDIARY

Notice is hereby given that Busey Bank, an Illinois state bank with its main office located at 100 West University Avenue, Champaign, Illinois, has submitted an application (the "Application") to the Federal Deposit Insurance Corporation requesting approval for Busey Bank to assume all remaining assets and liabilities of Mid Illinois Insurance Services, Inc., an Illinois corporation with its main office located at 2119 Southwest Adams, Peoria, Illinois, following the dissolution of Mid Illinois Insurance Services, Inc.

This notice is published pursuant to Section 18(c) of the Federal Deposit Insurance Act.

Any person wishing to comment on the Application may file his or her comments in writing with the Regional Director of the Federal Deposit Insurance Corporation at its Regional Office located at 300 South Riverside Plaza, Suite 1700, Chicago, Illinois 60606, not later than December 27, 2019. The non -confidential portions of the Application are on file in the Regional Office and are available for public inspection during regular business hours. Photocopies of the non -confidential portion of the Application files will be made available upon request.

November 26, 2019 Busey Bank Champaign, Illinois

Mid Illinois Insurance Services, Inc. Peoria, Illinois

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FEDERAL DEPOSIT INSURANCE CORPORATION INTERAGENCY BANK MERGER ACT APPLICATION

Check all that apply: Type of Filing Form Transaction Filed Pursuant To ZAffiliate/Corporate Reorganization Z 12 U.S.C. I828(c) I OCombination with Interim [1Consolidation 0 12 U.S.C. 215, 215a -c Depository Institution OPurchase and Assumption El12 U.S.C. 1815(a) ENonaffiliate Combination OBranch Purchase and Assumption 0 Other 11 DOther ®Other Dissolution of Subsidiary

Applicant Depository Institution

Busey Bank FDIC No. 16450 I Name Charter/Docket Number 100 West University Avenue Street i Champaign Illinois 61820 City State ZIP Code Target Institution

Mid Illinois Insurance Services, Inc. Not applicable Name Charter/Docket Number g 2119 Southwest Adams Street Peoria Illinois 61620 i City State ZIP Code Resultant Institution (if different than Applicant) 111

Name Charter/Docket Number

Street

City State ZIP Code

Contact Person Cindy C. Wang, Paralegal Barack Ferrazzano Kirschbaum & Nagelberg LLP Name Title/Employer

200 West Madison Street, Suite 3900 Street Chicago Illinois 60606 I City State ZIP Code (312) 984-3225 cindy.wang(&,bflin.com Telephone Number E-mail Address

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INTERAGENCY BANK MERGER A CT APPLICATION

1. Describe the transaction's purpose, structure, significant terms, conditions, and termination dates of related contracts or agreements; and financing arrangements, including any plan to raise additional equity or incur debt.

First Busey Corporation, a Nevada corporation (the "Company"), owns 100% of the capital stock of Busey Bank, an Illinois state bank with its main office located in Champaign, Illinois ("Applicant"). Applicant owns 100% of the stock of Mid Illinois Insurance Services, Inc., an Illinois corporation ("Target"). The Target was a former insurance agency that previously sold its assets and is not active.

Applicant proposes to voluntarily dissolve Target (the "Dissolution") in accordance with Article 12 of the Illinois Business Corporation Act of 1983 (the "IBCA") and transfer any remaining assets and liabilities of Target to Applicant.

There will be no need for additional capital or financing in connection with the Dissolution. Because Target is wholly -owned by Applicant, Target is consolidated with Applicant for financial and regulatory reporting purposes.Consequently, Applicant expects that its financial condition and regulatory capital will be unaffected by the Dissolution.In connection with the Dissolution, a book-keeping entry to close out the Target capital account will be made.

Applicant desires the Dissolution to be effective as soon as possible.

2. Indicate any other filings related to this transaction with other state and federal regulators.

As a courtesy, Applicant will file a copy of this Application with the Illinois Department of Financial and Professional Regulation.

3. Discuss whether and how the resultant institution's business strategy and operations will remain the same or change from that of the applicant. Identify new business lines. Provide a copy of the business plan, if available. Discuss the plan for integrating any new businesses into the resultant institution. Applicant does not expect that there will be any changes in its business strategy and operations.

4. Provide a copy of (a) the executed merger or transaction agreement, including any amendments, (b) any board of directors' resolutions related to the transaction, and (c) interim charter, names of organizers, and any other related documents.

Attached as Exhibit A is a copy of the Plan of Liquidation and Assignment and Assumption Agreement executed by Target and Applicant.

Attached as Exhibit B are resolutions of the board of directors of Applicant and resolutions of the sole shareholder of Target approving the Dissolution.These were adopted at Applicant's board meeting on October 24, 2019. Pursuant to Section 12.10 of the IBCA, the shareholders, by unanimous written consent, may voluntarily dissolve Target, without any action on the part of Target's board of directors.

FDIC 6220/01 (6-18) Page 2

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5. Describe any issues regarding the permissibility of the proposal with regard to applicable state or federal laws or regulations (for example, nonbank activities, branching, or qualified thrift lender test). To the best of Applicant's knowledge, the Dissolution does not present any issues of permissibility under applicable state or federal laws or regulations.

6. Describe any nonconforming or impermissible assets or activities that applicant or resultant institution may not be permitted to retain under relevant law or regulation, including the method of and anticipated time period for divestiture or disposal.

Applicant is not acquiring any nonconforming or impermissible assets or activities that may not be permitted to retain under relevant law or regulation.

7. Provide the following financial information.

a. Pro forma balance sheet, as of the end of the most recent quarter. Indicate separately for the applicant and target institution each principal group of assets, liabilities, and capital accounts; debit and credit adjustments (explained by footnotes) reflecting the proposed acquisition; and the resulting pro forma combined balance sheet.

b. Projected balance sheets and corresponding income statements as of the end of the first three years of operation following consummation. Describe the assumptions used to prepare the projected statements.

c. Provide a discussion on the valuation of the target entity and any anticipated goodwill and other intangible assets.

1 d. Pro forma and Projected Regulatory Capital Schedule for Buyer, as of the end of the most recent quarter and each of the first three years of operation, indicating:

Each component item for common equity Tier 1 capital, additional Tier 1 capital and Tier 2 capital pursuant to the currently applicable capital requirements

Total risk -weighted assets

Capital ratios:(1) common equity Tier 1capital to totalrisk -weighted assets; (2) Tier 1capital to total risk -weighted assets; (3) total capital to total risk -weighted assets; and (4) capital to average total consolidated assets (leverage ratio);all pursuant to the capital regulations.

If applicable, also provide Buyer's existing and pro forma supplementary leverage ratio pursuant to the current capital adequacy regulations. Target currently has assets and liabilities of $0.00.Target's financial information is consolidated with Applicant. A pro forma balance sheet of Target, as of October 31, 2019, 0, is attached as Exhibit C 8. List the directors and senior executive officers of the resultant institution and provide the name, address, position with and shares held in the resultant institution or holding company, and

FDIC 6220/01 (6-18) Page 3

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principal occupation (if a director). Indicate any changes to the applicant's current directors and senior executive officers that would occur at the resultant institution. Applicants should consult with theresponsible regulatory agency regarding whether any biographicalorfinancial information should be submitted with respect to any new principal shareholders, directors, and senior executive officers.

The directors and senior executive officers of Applicant will not change as a result of the Dissolution.

9. Describe any litigation or investigation by local, state, or federal authorities involving the applicant or any of its subsidiaries or the target or any of its subsidiaries that is currently pending or was resolved within the last two years.

There is no litigation, and to Applicant's knowledge, no investigation, by local, state, or federal authorities involving Applicant or any of its subsidiaries, including Target, that is currently pending or was resolved within the last two years.

10. Describe how the proposal will assist in meeting the convenience and needs of the community to be served, including, but not limited to, the following:

Summarize efforts undertaken or contemplated by the applicant to ascertain and address the needs of the community (ies) to be served, including community outreach activities, as a result of the proposal.

For the combining institutions, list any significant anticipated changes in services or products that will result from the consummation of the transaction.

To the extent that any products or services would be offered in replacement of any products or services to be discontinued, indicate what these are and how they would assist in meeting the convenience and needs of the communities affected by the transaction.

Discuss any enhancements in products or services expected to result from the transaction.

Following the Dissolution, Applicant will continue to offer the full range of products and services that it currently offers. The fees charged by Applicant will be the same as the fees Applicant currently charges, subject to adjustment from time to time by the management of Applicant.

1 1. Describe how the applicant and resultant institution will assist in meeting the existing or anticipated needs of itscommunity(ies) under the applicable criteria of the Community Reinvestment Act (CRA) and its implementing regulations, including the needs of low- and moderate -income geographies andindividuals.Thisdiscussionshouldinclude,butnot necessarily be limited to, a description of the following:

The significant current and anticipated programs, products, and activities, including lending, investments, and services, as appropriate, of the applicant and the resultant institution.

The anticipated CRA assessment areas of the resultant institution.If the resultant institution's CRA assessment area would not include any portion of the current assessment area of the target or the applicant, describe the excluded areas.

FDIC 6220/01 (6-18) Page 4

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The plans for administering the CRA program for the resultant institution following the transaction.

For an applicant or target institution that has received a CRA composite rating of "needs to improve" or "substantial noncompliance" institution -wide or, where applicable, in a state or a multistate Metropolitan Statistical Area (MSA), or has received an evaluation of less than satisfactory performance in an MSA or in the non-MSA portion of a state in which the applicant is expanding as a result of the transaction, describe the specific actions, if any, that have been taken to address the deficiencies in the institution's CRA performance record since the rating.

Applicant received a "satisfactory" rating atitslast CRA examination, which was conducted July 1, 2019. Following the Dissolution, Applicant will continue to operate all of its offices and offer its customers the entire range of traditional banking products and services available immediately prior to the Dissolution.Applicant has always strived to provide for the credit needs of all elements of its communities, including the needs of low - and moderate -income groups and individuals, and continues to be responsive to the needs of its customers and the communities that it serves.

12. The Dodd -Frank Wall Street Reform and Consumer Protection Act requires regulators to consider the risk to the stability of the United States banking and financial systems when reviewing a merger transaction between financial institutions.Discuss any effect(s) that the proposed transaction may have on the stability of the United States banking and financial systems.

Not applicable.

13. The Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994 (12 U.S.C. §1831u) ("R -N") imposes additional considerations for certain interstate mergers between insured banks. Savings associations are not subject to R -N. If subject to these provisions, please provide the following information:

Identify any host states involved with this transaction that require the target to be in operation for a minimum number of years and discuss compliance with the R -N age requirement (12 U.S.C. §1831u(a)(5)).

Indicate that (1) the applicant has complied or will comply with the applicable filing requirements of any host state(s) that will result from the transaction and (2) the applicant has sent a copy of the merger application to the state bank supervisor of the resultant host state(s).

Indicate applicability of R -N nationwide and statewide deposit concentration limits to the transaction. If applicable, discuss compliance.

Indicate applicability of state -imposed deposit caps, if any. If applicable, discuss compliance.

Address whether:

Each bank involved in the transaction is adequately capitalized on the date of filing.

FDIC 6220/01 (6-18) Page 5

The resultant institution will be well capitalized and well managed upon consummation of the transaction.

Discuss compliance with the CRA requirement of R -N.

Discuss permissibility of retention of the target's main office and branches.

Discuss any other restrictions that the host states seek to apply (including state antitrust restrictions).

Not applicable.

14. List all offices of the applicant or target that: (a) will be established or retained as branches, including the main office, of the target institution, (b) are approved but unopened branch(es) of the target institution, including the date the current federal and state agencies granted approval(s), and (c) are existing branches that will be closed or consolidated as a result of the proposal (to the extent the information is available) and indicate the effect on the branch customers served. For each branch, list the popular name, street address, city, county, state, and zip code, specifying any that are in low- and moderate- income geographies.

Target's activities were conducted at 2119 Southwest Adams, in Peoria, Illinois prior to the sale of its assets.

15. As a result of this transaction, if the applicant will be or will become affiliated with a company engaged in insurance activities that is subject to supervision by a state insurance regulator, provide:

The name of the company.

A description of the insurance activity that the company is engaged in and has plans to conduct.

A list of each state and the lines of business in that state in which the company holds, or will hold, an insurance license.Indicate the state where the company holds a resident license or charter, as applicable.

Not applicable.

If this is a nonaffiliate transaction, the applicant also must reply to items 16 through 18.

16. Discuss the effects of the proposed transaction on existing competition in the relevant geographic market(s) where the applicant and the target institution operate. The applicant should contact the responsible regulatory agency for specific instructions to complete the competitive analysis.

Not applicable.

17. If the proposed transaction involves a branch sale or any other divestiture of all or any portion of the bank, savings association or nonbank company (in the case of a merger transaction under 12 U.S.C. § 1828(c)(1)) to mitigate competitive effects, discuss the timing, purchaser, and other specific information.

FDIC 6220/01 (6-18) Page 6

Not applicable.

18. Describe any management interlocking relationships (12 U.S.C. §§ 3201-3208) that currently exist or would exist following consummation. Include a discussion of the permissibility of the interlock with regard to relevant laws and regulations.

Not applicable.

FDIC 6220/01 (6-18) Page 7

CERTIFICATION

We hereby certify that our board of directors, by resolution, has authorized the filing of this application, and that to the best of our knowledge, it contains no misrepresentations or omissions of material facts. In addition, we agree to notify the responsible regulatory agency if the facts described in the filing materially change prior to receiving a decision or prior to consummation. Any misrepresentation or omission of a material fact constitutes fraud in the inducement and may subject us to legal sanctions provided by 18 U.S.C. §§1001 and 1007.

We acknowledge that approval of this application is in the discretion of the responsible regulatory agency. Actions or communications, whether oral, written, or electronic, by an agency or its employees in connection with this filing, including approval of the application if granted, do not constitute a contract, either express or implied, or any other obligation binding upon the responsible regulatory agency, other federal banking agencies, the United States, any other agency or entity of the United States, or any officer or employee of the United States. Such actions or communications will not affect the ability of any federal banking agency to exercise its supervisory, regulatory, or examination powers under applicable law and regulations. We further acknowledge that the foregoing may not be waived or modified by any employee or agent of a federal banking agency or of the United States.

Signed this 15th day of November, 2019.

Busey Bank B (Applicant) (Signature of Authorized Officer)

Robin N. Elliott (Print or Typed Name)

President and Chief Executive Officer (Title)

By: (Resultant Institution) (Signature of Authorized Officer)

(Print or Typed Name)

(Title)

FDIC 6220/01 (6-18) Page 8

FEDERAL DEPOSIT INSURANCE CORPORATION

SUPPLEMENT TO INTERAGENCY BANK MERGER ACT APPLICATION

All FDIC applicants should provide the following supplemental information with their applications:

22. This section supplements question 16 of the Interagency Bank Merger Act Application for transactionsbetweennonaffiliatedparties.AdditionalguidancerelatingtotheFDIC's consideration of the competitive factors in a proposed merger transaction is contained in the FDIC's Rules and Regulations (12 C.F.R. §303 Subpart D) and Statement of Policy on Bank Merger Transactions, which may be found at www.fdic.gov/regulations/laws/rules/index.html.

I. Delineation of the relevant geographic market(s).

The relevant geographic market includes the areas in which the offices to be acquired are located and from which those offices derive the predominant portion of their loans, deposits, or other business. The relevant geographic market also includes the areas where existing and potential customers impacted by the proposed merger transaction may practically turn for alternative sources of banking services.

a. Prepare schedules for the applicant institution and target institution showing the total number of accounts and total dollar volume of deposits* for each municipality or census tract, where applicable, according to the recorded address of the depositor (do not submit supporting data). Small amounts may be aggregated and identified as "other." If the applicant institutionis a multi -officeinstitution,the applicantinstitution deposit information should be provided only for those offices within or proximate to the area(s) described below under paragraph (b).

b. Identify those areas where existing and potential customers of the offices to be acquired may practically turn for alternative sources of banking services. If consideration of the availability of such alternative banking services results in a market area considerably different from that indicated by the sources of deposits, discuss and provide necessary supporting information.

c. Using the information collected in paragraphs (a) and (b), provide a narrative description of the delineated relevant geographic market(s).

d. Provide any additionalinformationnecessarytosupport thedelineatedrelevant geographicmarket(s).Supportinginformation may includerelevant demographic information, locations of major employers, retail trade statistics, and/or information on traffic patterns. Applicants should consult with the applicable FDIC Regional Office in determining whether additional information is necessary.

Not applicable.

In most cases, total deposits will serve as an adequate proxy for the overall share of banking business in the relevant geographic market area; however, other analytical proxies may be appropriate in certain cases (for example, a merger transaction involving trust companies).

FDIC 6220/01 (6-18) Page 9

H. Competition in the relevant geographic market(s).

a. Prepare a schedule of participating and competing banking institutions' offices, divided into three sections:

i. Applicant institution's offices within or proximate to the relevant geographic market(s);

ii. Target institution's offices within or proximate to the relevant geographic market(s); and

iii. Competitor banking officeslocated or competing within the delineated relevant geographic market(s).

To the extent known, also include banking offices approved but not yet open. The following presentation format is suggested:

Distance and Direction from Nearest Office

Name and Location Total Deposits Applicant Institution Target Institution of Banking Office

b. For each office listedin paragraph (a), provide the street address; total deposits as reported in the most recent FDIC SummaryofDeposits Data Book (www2.fdic.gov/sod/index.asp); and distance and general direction from the nearest office of the applicant and target institution. In cases where the delineated relevant geographic market includes a significant portion of a larger metropolitan area, provide only a listing of financial institutions and the aggregate total deposits of all offices operated by each within the delineated relevant geographic market(s).

c. Discuss the extent and intensity of competition in the delineated relevant geographic market(s) provided by nonbank institutions, such as other depository institutions (for example, credit unions) and non -depository institutions (for example, finance companies or government agencies). For those institutions regarded as competing in the delineated relevant geographic market(s), provide name, address, and services supplied.

Not applicable.

FDIC 6220/01 (6-18) Page 10

1696391.v2 INDEX OF EXHIBITS

NAME OF DOCUMENT EXHIBIT

Plan of Liquidation and Assignment Agreement A

Resolutions of the Board of Directors of Busey Bank and Sole B Shareholder of Mid Illinois Insurance Services, Inc.

Balance Sheet of Mid Illinois Insurance Services, Inc., as of October 31, 2019

1696391.v3 EXHIBIT A

PLAN OF LIQUIDATION

AND ASSIGNMENT AGREEMENT

1696391 v2 EXHIBIT A

PLAN OF LIQUIDATION OF MID ILLINOIS INSURANCE SERVICES, INC.

OCTOBER 24, 2019

1. The Plan of Liquidation of Mid Illinois Insurance Services, Inc., an Illinois corporation (the "Company"), is that the Company shall completely liquidate on or about December 31, 2019 (the "Liquidation Date"), by distributing all of its assets to its sole shareholder (the "Shareholder") pursuant to the terms of an Assignment Agreement in the form attached hereto as Appendix A (the "Agreement"), in complete redemption and cancellation of its outstanding shares of stock.

2. Upon the adoption of this Plan of Liquidation of the Company (this "Plan of Liquidation"), the Company shall commence to wind up its business, to sell and dispose of its operating assets, and to pay and discharge or otherwise satisfy or provide for the satisfaction of all its obligations, liabilities and commitments. Except to the extent required prior to the disposition of the operating assets of the Company, the Company shall cease to conduct an active business other than the consummation of this Plan of Liquidation.

3. On or before the Liquidation Date, the Company shall sell and dispose of its operating assets and shall pay and discharge or otherwise satisfy or provide for the satisfaction of all the Company's obligations, liabilities and commitments as provided in the Agreement.

4. One or more distributions in complete redemption and cancellation of the outstanding shares of stock of the Company shall be made to the Shareholder in cash or other property pursuant to the terms of the Agreement at such time or times and in such amounts as shall be determined by the president of the Company provided that all of the assets of the Company remaining after the payment or satisfaction of or making provision for all of the obligations, liabilities and expenses of and claims against the Company shall in any and all events be distributed on or before the Liquidation Date.

5. Upon the final distribution in complete liquidation by the Company to its Shareholder of all its remaining assets as provided in paragraph 4 above, the Shareholder shall surrender to the Company for retirement and cancellation all outstanding shares of stock of the Company owned by the Shareholder and the certificates representing the same.

6. Following the distribution by the Company of all its assets remaining after satisfying, discharging or making provisions for all of its liabilities, obligations and expenses, the Company shall voluntarily dissolve and surrender its charter as soon as the same can reasonably be affected.

7. It is intended that this Plan of Liquidation shall constitute a plan of complete liquidation of the Company for purposes of Sections 332 and 337 of the Internal Revenue Code of 1986, as amended (the "Code") and, upon adoption of this Plan of Liquidation, the Company shall take such actions as may be necessary to comply with the requirements of such Code Sections and the Treasury Regulations promul6dted thereunder.

8. This Plan of Liquidation shall become effective upon its adoption and approval by the Shareholder (the "Effective Date").As soon as reasonably practicable after the Effective Date, the Company shall prepare and file (or cause to be prepared and filed) Internal Revenue Service Form 966 and such other forms and reports as may be required to be filed with the Internal Revenue Service under Section 6043 or any other section of the code in connection with the adoption and implementations of this Plan of Liquidation.

1688141.v1 ASSIGNMENT AGREEMENT

KNOW ALL MEN RV THESE PRESENTS, that MIDILUNOIS INSURANCE SERVICES,INC., an Illinois corporation ("Assignor"), does hereby grant, assign, transfer, set over and deliver to Busey Bank, an Illinoisaihertered bank with its main office located in Champaign, Illinois ("Assignee"), all of its right, title and interest in Assignor's business, goodwill, properties and rights, of every lcind and description, real or personal, tangible or intangible and wheresoever situated, including any and all real estate, improvements, .equipment, furniture and supplies; all leases, agreements, and licenses of whatever character; all permits, deposits, prepaid limns, insurance policies, shares of stock, all accounts receivable, all claims, notions, causes &action, In law or in equity; all trademarks and trade names and all goodwill associated therewith; all trade secrets, hooks ofaccount, invoices, original records, minute books, stook registers, correspondence and all other books and records; mid all property, rights, assets and privileges of every kind and description whidh as of the date hereof are owned by A ignor or to which Assignor now Is or may hereafter become entitled.

Assignor hereby oovenants and agrees- that It will duly execute and. deliver all such further instruments of tremsfbr, assignments or conveyances to Assignee, its 8110013S0001 or assigns, as may be requested at any time or from time to time by Assignee, its suocessors or assigns, by way of farther assurance or mere particular description ofthe property and assets hereby intended to be conveyed, swiped or otherwise transferred, or any of thalami.

AU of the fbregoing properties, assets, rights, franchises and privileges are conveyed, assigned, transferred and delivered by Assignor to Assignee, subject to all unsatisfied liabilities mid obligations directly associated therewith as of the date hereof.

YN wITNIESS WRZREOF, each party hereto has set its respective hand as of this 2.4 anday of November 2019,

Km Wiliam FINANCIAL SWIMS, INC., BUNNY BANK, an Illinois corporation an Illinola-ohaiterecl bank.

,,: By: Name: Mark Joseph Name: Robin N. Elliott Title: Chairman of the B Title: President and C,hterEaceentive Officer EXHIBIT B

RESOLUTIONS OF THE BOARD OF DIRECTORS OF BUSEY BANK

AND SOLE SHAREHOLDER OF MID ILLINOIS INSURANCE SERVICES, INC.

1696391.v2 BUSEY BANK CHAMPAIGN, ILLINOIS

RESOLUTIONS OF THE BOARD OF DIRECTORS OCTOBER 24, 2019

WHEREAS, the board of directors (the "Board") of Busey Bank (the "Bank") has determined that it is advisable and in the best interests of the Bank to effect the dissolution (the "Dissolution") of Mid Illinois Insurance Services, Inc., an Illinois corporation and a wholly -owned subsidiary of the Bank (the "Subsidiary"), and to liquidate the business and affairs of the Subsidiary pursuant to a Plan of Liquidation in the form attached hereto as Exhibit A (the "Plan of Liquidation"), and the accompanying Assignment Agreement in the form attached to the Plan of Liquidation as Appendix A;

WHEREAS, the Dissolution requires the approval of the Bank as sole shareholder of the Subsidiary under Section 12.10 of the Illinois Business Corporation Act of 1983, as amended, and the Subsidiary must distribute its assets to effectively liquidate;

Now, THEREFORE, BE IT RESOLVED, that the Dissolution and the Plan of Liquidation are each hereby authorized and approved by the Board, together with such modifications, alterations and amendments as shall be deemed necessary or appropriate by the Chief Executive Officer of the Bank, or any officer designated by him (each, an "Authorized Officer"), the execution thereof to definitively evidence the necessity or appropriateness of such modification.

FURTHER RESOLVED, that any of the Authorized Officers of the Bank are hereby authorized, directed and empowered to take such actions as they shall deem necessary or appropriate, including, preparing, executing and delivering of applications or other documents to obtain the consent of any governmental or regulatory authority required in connection with the Dissolution or any other related transactions.

FURTHER RESOLVED, that any of the Authorized Officers are hereby authorized, directed and empowered to vote on the Bank's behalf all shares of voting stock owned by the Bank at any meeting of shareholders or at any adjournments or postponements of the meeting, or by informal shareholders' action, and to take any other action required or permitted to be taken by the holders of such shares.

FURTHER RESOLVED, that any of the Authorized Officers are hereby authorized, directed and empowered to execute and deliver all such other agreements, documents, instruments and schedules and take such further actions as such officer or officers may deem necessary or appropriate to carry out the intent of the foregoing resolutions, the execution and delivery of such agreements, documents, instruments and schedules and the doing of such acts shall be conclusive evidence that the same were in all respects hereby fully authorized and approved.

FURTHER RESOLVED, that all acts and things done, whether heretofore or hereafter performed or done, by the Authorized Officers which are in conformity with the intent and purposes of these resolutions shall be and the same are hereby, in all respects, ratified, confirmed and approved.

1688141.vl MID ILLINOIS INSURANCE SERVICES, INC. an Illinois corporation

INFORMAL SHAREHOLDER'S ACTION PURSUANT TO SECTIONS 7.10 AND 12.10 OF THE ILLINOIS BUSINESS CORPORATION ACT OF 1983, AS AMENDED

The undersigned, being the sole shareholder of

MID ILLINOIS INSURANCE SERVICES, INC.

an Illinois corporation (the "Company"), acting pursuant to Sections 7.10 and 12.10 of the Illinois Business Corporation Act of 1983, as amended (the "BCA"), hereby waives notice and the holding of a meeting and consents to and adopts the following resolutions by written consent:

LIQUIDATION AND DISSOLUTION

RESOLVED, that the Plan of Liquidation of the Company, in the form attached hereto as Exhibit A (the "Plan of Liquidation"), and the accompanying Assignment Agreement, in the form attached to the Plan of Liquidation as Appendix A (the "Agreement"), are hereby approved by the sole shareholder of the Company pursuant to the BCA and Section 332 of the Internal Revenue Code of 1986, as amended.

FURTHER RESOLVED, that the proper officers of the Company, be, and each of them hereby is, acting alone or together, authorized, empowered and directed for and on behalf of the Company, to prepare, execute and file Articles of Dissolution of Company with the Illinois Secretary of State, and to file such forms as are deemed necessary or desirable with the Internal Revenue Service and to reflect the dissolution with other jurisdictions in which the Company is qualified to do business, and to do all such acts as may be necessary to carry out and consummate the Plan of Liquidation, including the Agreement.

MISCELLANEOUS

RESOLVED, that the proper officers of the Company be, and each of them hereby is, acting alone or together, authorized, empowered and directed, for and on behalf of the Company, to take any and all actions, to perform all such acts and things, to execute, file, deliver or record, all such notices, certificates, instruments, agreements or other documents, and to make all such payments as they, in the judgment of any one or more of them, may deem necessary, advisable or appropriate in order to carry out the purpose and intent of, or consummate the transactions contemplated by, the foregoing resolutions and/or all of the transactions contemplated therein or thereby, the authorization therefor to be conclusively evidenced by the taking of such action or the execution and delivery of such notices, certificates, instruments, agreements or other documents.

This informal shareholder's action shall be filed with the minutes of the Company. Any certificate given with respect to this action may state that written consent to such action was given by the sole shareholder in lieu of stating that the shareholder voted upon the corporate action in question.

Dated: October 24, 2019. BUSEY BANK

By: ame: Robin N. Elliott Title: President & Chief Executive Officer

Being the sole shareholder of the Company. EXHIBIT C

BALANCE SHEET OF MID ILLINOIS INSURANCE SERVICES, INC.

169639 I.v2 Mid Illinois Insurance MONTH -END DETAIL BALANCE SHEET 10/31/2019 SYSTEM DATE: 11/15/201908:35:25

ACTUAL AVERAGE 10/31/2019 10/31/2019 MTD

ASSETS

Total Assets $0.00 $0.00

LIABILITIES Total Liabilities $0.00 $0.00

CAPITAL Subtotal Capital $0.00 $0.00

YTD Net Profit or Loss

Total Capital

Total Liabilities & Capital $0.00 $0.00

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