First Busey Corp. in Champaign, Ill., has exited the Small Business Lending Fund.
The $3.9 billion-asset holding company for Busey Bank redeemed all its remaining shares in the program at a total redemption price of about $72.8 million, according to a Tuesday regulatory filing. The transaction closed on Dec. 18.
First Busey issued the shares to the Treasury Department in August 2011.
A number of banks have been eager to leave the SBLF before its dividend rate increases to 9%.