Main Street Trust Announces Second Quarter 2007 Earnings

Name	Symbol	Market	Type
Madison Short Term Strategic Income ETF	AMEX:MSTI	AMEX	Exchange Traded Fund

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	0.055	0.27%	20.45	20.43	20.41	20.41	1,069	21:15:02

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CHAMPAIGN, Ill., July 20 /PRNewswire-FirstCall/ -- Main Street Trust, Inc. (OTC:MSTI) (BULLETIN BOARD: MSTI) , reported consolidated net income for the quarter of $4.932 million compared to $4.799 million for the same period in 2006, an increase of 2.8%. Consolidated net income per diluted share for the quarter ended June 30, 2007 totaled $0.49, compared to $0.47 per diluted share for the same period in 2006, a 4.3% increase. Van A. Dukeman, President and CEO stated that, "The Company's performance this quarter was enhanced by continued growth in our commercial loan portfolio, including commercial real estate, which exceeded $816 million. Total loan interest income increased 6.9% compared to the second quarter of 2006. Additional performance highlights came from FirsTech, which increased revenue 15.7% compared to the second quarter of 2006. Following the opening of their new office in St. Louis in April, FirsTech continued its penetration of that market by securing new account relationships for its proprietary internet agent payment product." Dukeman further stated that, "Main Street's merger of equals with First Busey Corporation recently received approvals from regulatory authorities. The final approval is subject to the successful divestiture of five Champaign County, Illinois branches of Main Street Bank & Trust. This divestiture represents approximately $15 million in loans and $110 million in deposits, which is less than 1% of the anticipated combined loans and approximately 3% of anticipated combined deposits following the merger. The expected merger date of the holding companies will be following the close of business on July 31, 2007, with the merger of Busey Bank and Main Street Bank & Trust anticipated to occur in the fourth quarter of 2007." Cash Dividend Paid The Company distributed a $0.25 per share cash dividend on July 20, 2007, payable to shareholders of record on June 30, 2007. This is the third quarterly cash dividend paid in 2007, bringing total dividends paid to-date to $0.75 per share, an 8.7% increase over the $0.69 per share for the same period in 2006. Franchise Main Street Trust, Inc. is a diversified financial services company with $1.5 billion in assets as of June 30, 2007, providing financial services at 23 locations in Downstate Illinois. Main Street Bank & Trust offers online banking (http://www.mainstreettrust.com/) and surcharge free ATM access at over 120 locations throughout Illinois. In addition, Main Street Wealth Management has $2.2 billion of financial assets under management for individuals and institutions. Main Street Trust, Inc. also owns a retail payment processing subsidiary - FirsTech, Inc., which processes over 25 million items per year. Condensed Consolidated Balance Sheets (Unaudited, in thousands) June 30, March 31, December 31, June 30, 2007 2007 2006 2006 ASSETS Cash and cash equivalents $98,821 $48,830 $61,385 $46,590 Investments in debt and equity securities 350,281 396,442 402,695 451,151 Mortgage loans held for sale 3,010 1,690 1,116 2,064 Loans, net of allowance for loan losses 996,957 995,353 987,485 973,217 Premises and equipment 24,319 23,655 22,447 22,707 Goodwill 20,736 20,736 20,736 20,736 Core deposit intangibles 3,263 3,481 3,698 4,134 Accrued interest receivable 9,357 11,674 9,663 9,476 Other assets 27,623 27,178 27,376 26,069 Total assets $1,534,367 $1,529,039 $1,536,601 $1,556,144 LIABILITIES AND SHAREHOLDERS' EQUITY Liabilities: Deposits $1,257,921 $1,242,775 $1,233,487 $1,205,731 Federal funds purchased and repurchase agreements 89,632 95,056 108,323 141,716 Federal Home Loan Bank advances and other borrowings 13,023 18,023 24,477 44,670 Accrued interest payable 4,847 4,849 5,187 4,604 Other liabilities 13,032 14,829 14,772 13,422 Total liabilities $1,378,455 $1,375,532 $1,386,246 $1,410,143 Total shareholders' equity 155,912 153,507 150,355 146,001 Total liabilities and shareholders' equity $1,534,367 $1,529,039 $1,536,601 $1,556,144 Consolidated Statements of Income (Unaudited, in thousands) Quarter Ended: Six Months Ended: June 30, June 30, June 30, June 30, 2007 2006 2007 2006 Interest Income: Loans and fees on loans $18,549 $17,356 $36,553 $34,151 Investments in debt and equity securities Taxable 4,186 4,580 8,548 8,686 Tax-exempt 235 292 476 622 Federal funds sold and interest bearing deposits 473 400 721 697 Total interest income 23,443 22,628 46,298 44,156 Interest expense: Deposits 9,628 8,202 18,890 15,620 Federal funds purchased and repurchase agreements 1,097 1,446 2,390 2,597 Federal Home Loan Bank advances and other borrowings 240 581 527 1,262 Total interest expense 10,965 10,229 21,807 19,479 Net interest income 12,478 12,399 24,491 24,677 Provision for loan losses 450 450 1,050 900 Net interest income after provision for loan losses 12,028 11,949 23,441 23,777 Non-interest income: Retail payment processing 2,402 1,738 4,681 3,503 Trust and brokerage fees 2,238 1,987 4,396 3,902 Service charges on deposit accounts 681 706 1,245 1,391 Securities transactions, net 19 12 (212) 279 Gain on sales of mortgage loans, net 173 150 275 276 Other 807 912 1,578 1,673 Total non-interest income 6,320 5,505 11,963 11,024 Non-interest expense: Salaries and employee benefits 6,170 5,764 12,165 11,685 Occupancy 826 783 1,620 1,575 Equipment 725 628 1,406 1,243 Data processing 880 719 1,789 1,457 Office supplies 322 301 623 597 Amortization expense - core deposit intangibles 218 217 435 435 Service charges from correspondent banks 83 82 161 146 Other 1,454 1,808 2,821 3,209 Total non-interest expense 10,678 10,302 21,020 20,347 Income before income taxes 7,670 7,152 14,384 14,454 Income taxes 2,738 2,353 4,678 4,965 Net income $4,932 $4,799 $9,706 $9,489 SELECTED FINANCIAL HIGHLIGHTS (dollars in thousands, except share data) Three Months Ended June 30, Mar. 31, June 30, 2007 2007 2006 EARNINGS & PER SHARE DATA Basic earnings per share $0.49 $0.48 $0.47 Weighted average shares of common stock outstanding 10,039,138 10,029,580 10,125,520 Diluted earnings per share $0.49 $0.47 $0.47 Weighted average shares of common stock and dilutive potential common shares outstanding 10,158,326 10,191,282 10,247,920 Market price per share at period end(1) $31.00 $33.00 $30.50 Price to book ratio(1) 199.61% 215.83% 210.93% Price to earnings ratio(1,2) 15.98 17.19 16.31 Cash dividends paid per share $0.25 $0.25 $0.23 Cash dividends declared per share $0.25 $0.25 $0.23 Book value per share $15.53 $15.29 $14.46 Tangible book value per share(3) $13.27 $13.02 $12.16 Ending number of common shares outstanding 10,039,138 10,039,138 10,099,281 AVERAGE BALANCES Assets $1,535,212 $1,539,134 $1,586,412 Investment securities 377,877 406,395 467,576 Gross loans(4) 1,013,082 1,004,700 983,060 Earning assets 1,406,479 1,408,517 1,460,496 Deposits 1,252,923 1,241,315 1,242,725 Interest bearing liabilities 1,147,157 1,147,365 1,207,313 Common shareholders' equity 155,090 151,964 146,123 END OF PERIOD FINANCIAL DATA Tax equivalized net interest income $12,617 $12,144 $12,562 Gross loans(4) 1,013,328 1,010,774 989,176 Allowance for loan losses 13,361 13,731 13,895 Total assets under management 2,166,060 2,133,273 2,184,056 PERFORMANCE RATIOS Return on average assets(5) 1.29% 1.26% 1.21% Return on average equity(5) 12.76% 12.74% 13.17% Net yield on average earning assets(5,6) 3.60% 3.50% 3.45% Interest spread(5,6) 2.89% 2.79% 2.86% Net overhead efficiency ratio(6,7) 56.44% 57.40% 57.06% Non-interest revenues as a % of total revenues(7,8) 33.55% 32.84% 30.70% Allowance for loan losses to loans 1.32% 1.36% 1.40% Allowance as a percentage of non-performing loans 143.53% 161.37% 169.82% Average loan to deposit ratio 80.86% 80.94% 79.11% Dividend payout ratio(2) 50.52% 50.00% 48.66% ASSET QUALITY Net charge-offs $820 $1,306 $154 Non-performing loans 9,309 8,509 8,182 Other non-performing assets 92 99 443 Six Months Ended June 30, June 30, 2007 2006 EARNINGS & PER SHARE DATA Basic earnings per share $0.97 $0.94 Weighted average shares of common stock outstanding 10,034,359 10,133,648 Diluted earnings per share $0.95 $0.93 Weighted average shares of common stock and dilutive potential common shares outstanding 10,173,924 10,255,595 Market price per share at period end(1) $31.00 $30.50 Price to book ratio(1) 199.61% 210.93% Price to earnings ratio(1,2) 15.98 16.31 Cash dividends paid per share $0.50 $0.46 Cash dividends declared per share $0.50 $0.46 Book value per share $15.53 $14.46 Tangible book value per share(3) $13.27 $12.16 Ending number of common shares outstanding 10,039,138 10,099,281 AVERAGE BALANCES Assets $1,537,173 $1,590,762 Investment securities 392,136 468,634 Gross loans(4) 1,008,891 986,898 Earning assets 1,407,498 1,463,649 Deposits 1,247,119 1,246,339 Interest bearing liabilities 1,147,261 1,208,056 Common shareholders' equity 153,527 145,500 END OF PERIOD FINANCIAL DATA Tax equivalized net interest income $24,761 $25,023 Gross loans(4) 1,013,328 989,176 Allowance for loan losses 13,361 13,895 Total assets under management 2,166,060 2,184,056 PERFORMANCE RATIOS Return on average assets(5) 1.27% 1.20% Return on average equity(5) 12.75% 13.15% Net yield on average earning assets(5,6) 3.55% 3.45% Interest spread(5,6) 2.84% 2.88% Net overhead efficiency ratio(6,7) 56.91% 56.89% Non-interest revenues as a % of total revenues(7,8) 33.21% 30.33% Allowance for loan losses to loans 1.32% 1.40% Allowance as a percentage of non-performing loans 143.53% 169.82% Average loan to deposit ratio 80.90% 79.18% Dividend payout ratio(2) 50.52% 48.66% ASSET QUALITY Net charge-offs $2,126 $477 Non-performing loans 9,309 8,182 Other non-performing assets 92 443 (1)Closing price at end of period (5)Annualized (2)Last 12-months earnings (6)On a fully tax-equivalized basis (3)Net of goodwill and core-deposit (7)Does not include securities intangibles gains/losses (4)Loans include mortgage loans held for sale and nonaccrual loans (8)Net of interest expense Special Note Concerning Forward-Looking Statements This document may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 with respect to the financial condition, results of operations, plans, objectives, future performance and business of the Company. Forward-looking statements, which may be based upon beliefs, expectations and assumptions of the Company's management and on information currently available to management, are generally identifiable by the use of words such as "believe," "expect," "anticipate," "plan," "intend," "estimate," "may," "will," "would," "could," "should" or other similar expressions. Additionally, all statements in this document, including forward-looking statements, speak only as of the date they are made, and the Company undertakes no obligation to update any statement in light of new information or future events. A number of factors, many of which are beyond the ability of the Company to control or predict, could cause actual results to differ materially from those in its forward-looking statements. These factors include, among others, the following: (i) the strength of the local and national economy; (ii) the economic impact of any future terrorist threats or attacks; (iii) changes in state and federal laws, regulations and governmental policies concerning the Company's general business; (iv) changes in interest rates and prepayment rates of the Company's assets; (v) increased competition in the financial services sector and the inability to attract new customers; (vi) changes in technology and the ability to develop and maintain secure and reliable electronic systems; (vii) the loss of key executives or employees; (viii) changes in consumer spending; (ix) unexpected results of acquisitions; (x) unexpected outcomes of existing or new litigation involving the Company; and (xi) changes in accounting policies and practices. These risks and uncertainties should be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements. Additional information concerning the Company and its business, including additional factors that could materially affect the Company's financial results, is included in the Company's filings with the Securities and Exchange Commission. DATASOURCE: Main Street Trust, Inc. CONTACT: Van a. Dukeman, President-CEO of Main Street Trust, Inc., +1-217-351-6568, fax, +1-217-351-6651 Web site: http://www.mainstreettrust.com/

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MSTI Madison Short Term Strategic Income ETF