First Busey in Illinois to close 15 branches

First Busey in Champaign, Ill., plans to close 15 branches.

The $12.4 billion-asset company said in a press release Tuesday that it will close the locations in the fourth quarter.

The closures are designed “to ensure a balance between the company’s physical banking center network and its robust digital banking services,” the release said.

The move is expected to save First Busey $3.5 million annually. The company plans to incur $4.3 million to $5 million in one-time expenses in the third and fourth quarters tied to the closures.