First Busey Corporation is a diversified financial holding company providing banking, insurance, investment, trust, asset management, mortgage, consumer finance and electronic financial services through banking centers, the internet and other distribution channels. First Busey Corporation has over $4.3 billion in assets with more than 1,000 associates serving customers throughout the United States and internationally.

First Busey Corporation is headquartered in Urbana, Illinois, with two wholly-owned banking subsidiaries and a wholly-owned brokerage and investment company. Busey Bank is headquartered in Champaign, Illinois, and has forty banking centers throughout downstate Illinois. Busey Bank has a banking center in Indianapolis, Indiana, and a loan production office in Ft. Myers, Florida. Busey Bank, N.A. is headquartered in Ft. Myers, Florida, and has eight banking centers serving Lee, Charlotte and Sarasota Counties. FirsTech, Inc., a wholly-owned subsidiary of Busey Bank, N.A., provides payment processing solutions to customers throughout the United States. Busey Wealth Management provides investment management and trust services to individual and institutional customers throughout the United States. Busey Wealth Management has more than $3.8 billion in assets under care.

Busey Bank looked for a solution to keep track of mortgage commissions, including overages and underages, paid to loan officers. They wanted a system that was easy to use, auditable and could receive the loan information from their loan system.

Commissions were calculated by the Loan Officers and the results sent to Accounting for verification and payment. Verification of the loan information to calculate commissions was time consuming. All commission calculations were managed using Excel files making verification and reporting difficult, cumbersome and time consuming. Excel spreadsheets were error prone and were in various formats.

According to Gary Jackson, Sr. Vice President, "the QCommission solution very clearly showed its suitability to the mortgage commission process of our bank. It was an easy decision to make."

Busey Bank had to delay the start of the project due to some other business needs and CellarStone was able to accommodate that. Configuration and testing by the QCommission Implementation Team was fairly quick working jointly with the Busey Bank Team

Testing highlighted some exceptions which were quickly resolved. Training was accomplished over a couple of sessions and after a single period of running in parallel; Busey Bank went live with QCommission.

Commissions are now calculated quickly and accurately. Changes to the commission structure are handled easily by the administrator. The Loan Officers made the transition from calculating their own commissions to receiving statements reflecting the accurate calculation without having to manually track and calculate themselves freeing up their time and effort. The effort required by the administrator is significantly less because the verification process is simpler and less time consuming. Additionally the effort to import and calculate takes very little time.

Busey Bank can now make changes to their commission structure where in the past there was always a concern about the impact and effort required to affect those changes. Since the elimination of the manual process, accuracy and timeliness is less of a concern.

"Having the QCommission system is a huge improvement from the manual process we used previously. It has allowed us to enhance our commission structure in a way we could not have done with the manual system. It has saved us substantial time and effort", says Gary.