First Busey

First Busey Corp. is a bank holding company, which engages in the provision of financial services through its wholly-owned bank subsidiary. It operates through the following segments: Banking, Remittance Processing, and Wealth Management. The Banking segment offers a range of services to individual and corporate customers through its banking center network. The Remittance Processing segment provides solutions for online bill payments, lockbox, and walk-in payments. The Wealth Management segment includes full range of asset management, investment, and fiduciary services to individuals, businesses, and foundations, tax preparation, philanthropic advisory, and farm and brokerage services.. The company was founded by Samuel Busey, Simeon Busey, and William Earhart in 1868 and is headquartered in Champaign, IL.

Earnings data Q1 2024

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First Busey Corp. is a financial holding company, which engages in the provision of banking services. It operates through the following segments: Banking, Wealth Management, FirstTech, and Other. The Banking segment involves the provision of services through its center network. The Wealth Management segment includes asset, investment, brokerage, fiduciary, philanthropic advisory, tax preparation, and farm management services. The FirstTech segment focuses on payment technology solutions. The company was founded by Samuel Busey, Simeon Busey, and William Earhart in 1868 and is headquartered in Champaign, IL.

The headline numbers for First Busey (BUSE) give insight into how the company performed in the quarter ended March 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

First Busey (BUSE) Reports Q1 Earnings: What Key Metrics Have to Say

First Busey (BUSE) came out with quarterly earnings of $0.47 per share, missing the Zacks Consensus Estimate of $0.49 per share. This compares to earnings of $0.65 per share a year ago.

First Busey (BUSE) Misses Q1 Earnings Estimates

CHAMPAIGN, Ill., April 23, 2024 (GLOBE NEWSWIRE) -- First Busey Corporation (Nasdaq: BUSE)   Net Income of $26.2 million Diluted EPS of $0.46   FIRST QUARTER 2024 HIGHLIGHTS Adjusted net income1 of $26.5 million, or $0.47 per diluted common share Net interest margin1 increased by 5 basis points during the first quarter of 2024 to 2.79% Executed a two-part balance sheet repositioning expected to be both capital and earnings accretive Adjusted noninterest income1 of $33.9 million, or 30.9% of operating revenue2 Record high revenue for FirsTech during the first quarter of 2024, and second-best quarter in Wealth Management division history Received regulatory and shareholder approvals needed to finalize the acquisition of Merchants & Manufacturers Bank Corporation and its wholly owned subsidiary Merchants & Manufacturers Bank, which was completed on April 1, 2024 Tangible book value per common share1 of $16.84 at March 31, 2024, compared to $16.62 at December 31, 2023, and $15.14 at March 31, 2023, a year-over-year increase of 11.2% Tangible common equity1 increased to 8.12% of tangible assets at March 31, 2024, compared to 7.75% at December 31, 2023, and 7.05% at March 31, 2023 For additional information, please refer to the 1Q24 Earnings Investor Presentation MESSAGE FROM OUR CHAIRMAN & CEO First Quarter Financial Results Net income for First Busey Corporation (“Busey,” “Company,” “we,” “us,” or “our”) was $26.2 million for the first quarter of 2024, or $0.46 per diluted common share, compared to $25.7 million, or $0.46 per diluted common share, for the fourth quarter of 2023, and $36.8 million, or $0.65 per diluted common share, for the first quarter of 2023.

First Busey Corporation Announces 2024 First Quarter Earnings

First Busey (BUSE) buys Merchants and Manufacturers Bank. The deal is set to aid geographical expansion, increase the deposit balance, and expand the commercial banking and wealth management businesses.

First Busey (BUSE) Closes Merchants and Manufacturers Bank Buyout

CHAMPAIGN, Ill. and OAKBROOK TERRACE, Ill., April 01, 2024 (GLOBE NEWSWIRE) -- First Busey Corporation (“Busey”) (NASDAQ: BUSE), the holding company for Busey Bank, announced the completion of its acquisition of Merchants and Manufacturers Bank Corporation (“M&M”), the holding company for Merchants and Manufacturers Bank (“M&M Bank”), effective April 1, 2024. The transaction was previously announced on November 27, 2023.

First Busey Corporation Finalizes Acquisition of Merchants and Manufacturers Bank Corporation and Merchants and Manufacturers Bank

CHAMPAIGN, Ill. and OAKBROOK TERRACE, Ill., March 26, 2024 (GLOBE NEWSWIRE) -- First Busey Corporation (“Busey”) (NASDAQ:BUSE), the holding company for Busey Bank, and Merchants and Manufacturers Bank Corporation (“M&M”), the holding company for Merchants and Manufacturers Bank (“M&M Bank”), today jointly announced that the election deadline for M&M shareholders of record to make merger consideration elections in connection with the previously announced merger between Busey and M&M is 5:00 p.m., Eastern Standard Time, on March 29, 2024. M&M shareholders may elect to receive either $117.74 in cash, 5.7294 shares of Busey common stock, or mixed consideration of $34.55 in cash and 4.0481 shares of Busey common stock, in exchange for each share of M&M common stock owned, subject to adjustment and proration as provided in the merger agreement.

First Busey Corporation and Merchants and Manufacturers Bank Corporation Announce Election Deadline

The headline numbers for First Busey (BUSE) give insight into how the company performed in the quarter ended December 2023, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

Compared to Estimates, First Busey (BUSE) Q4 Earnings: A Look at Key Metrics

First Busey (BUSE) came out with quarterly earnings of $0.52 per share, beating the Zacks Consensus Estimate of $0.49 per share. This compares to earnings of $0.65 per share a year ago.

First Busey (BUSE) Tops Q4 Earnings and Revenue Estimates

CHAMPAIGN, Ill., Jan. 23, 2024 (GLOBE NEWSWIRE) -- First Busey Corporation (Nasdaq: BUSE) Net Income of $25.7 million Diluted EPS of $0.46 Fourth Quarter 2023 Highlights Adjusted net income1 at $29.1 million, or $0.52 per diluted common share Entered into a definitive agreement to acquire Merchants & Manufacturers Bank Corporation (“M&M”), the holding company for Merchants & Manufacturers Bank (“M&M Bank”) Executed a two-part balance sheet repositioning related to the securities portfolio, expected to be both capital and earnings accretive Non-performing assets declined 34.4% during the fourth quarter of 2023, to $7.9 million, now representing 0.06% of total assets Annualized quarterly net charge-off ratio of 0.02% and full year net charge-off ratio of 0.03% Tangible book value per common share1 of $16.62 at December 31, 2023, compared to $15.07 at September 30, 2023, and $14.14 at December 31, 2022, an increase of 17.5% year-over-year For additional information, please refer to the 4Q23 Earnings Investor Presentation Message from our Chairman & CEO Fourth Quarter Financial Results Net income for First Busey Corporation (“Busey,” “Company,” “we,” “us,” or “our”) was $25.7 million for the fourth quarter of 2023, or $0.46 per diluted common share, compared to $30.7 million, or $0.54 per diluted common share, for the third quarter of 2023, and $34.4 million, or $0.61 per diluted common share, for the fourth quarter of 2022.

First Busey Corporation Announces 2023 Fourth Quarter Earnings

First Busey (BUSE) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Earnings Preview: First Busey (BUSE) Q4 Earnings Expected to Decline

First Busey (BUSE) saw its shares surge in the last session with trading volume being higher than average. The latest trend in earnings estimate revisions could translate into further price increase in the near term.

Strength Seen in First Busey (BUSE): Can Its 5.2% Jump Turn into More Strength?

First Busey (BUSE) signs a merger agreement with Merchants & Manufacturers Bank. The total deal value is approximately $41.6 million and is expected to close in the second quarter of 2024.

First Busey (BUSE) to Acquire Merchants & Manufacturers Bank

First Busey Expands Market Presence in Chicago MSA and Adds Life Equity Loan® Products to Suite of Services First Busey Expands Market Presence in Chicago MSA and Adds Life Equity Loan® Products to Suite of Services

First Busey Corporation and Merchants and Manufacturers Bank Corporation to Merge

The headline numbers for First Busey (BUSE) give insight into how the company performed in the quarter ended September 2023, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

First Busey (BUSE) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates

First Busey (BUSE) came out with quarterly earnings of $0.55 per share, beating the Zacks Consensus Estimate of $0.51 per share. This compares to earnings of $0.65 per share a year ago.

First Busey (BUSE) Q3 Earnings and Revenues Top Estimates

CHAMPAIGN, Ill., Oct. 24, 2023 (GLOBE NEWSWIRE) -- First Busey Corporation (Nasdaq: BUSE) Net Income of $30.7 million Diluted EPS of $0.54 Third Quarter 2023 Highlights Net income excluding net securities losses1 of $30.9 million and adjusted diluted EPS excluding net securities gains and losses1 of $0.55 Total deposits increased $269.6 million, or 2.7%, quarter-over-quarter, to $10.33 billion Short-term borrowings decreased to $12.0 million, compared to $212.0 million at the end of the second quarter of 2023 and $615.9 million at the end of the first quarter of 2023 Non-performing assets declined 23.6% during the third quarter of 2023, to $12.1 million, now representing 0.10% of total assets Classified assets declined to $59.6 million, compared to $81.9 million at the close of the second quarter of 2023 and $103.9 million at the end of the first quarter of 2023 Annualized net charge-off ratio of 0.01% in the quarter and 0.02% over the last twelve months2 Noninterest income excluding net securities losses1 increased to $31.3 million, from $30.1 million in the second quarter of 2023, representing 28.7% of total revenue Wealth management segment revenue of $14.4 million in the third quarter of 2023, a 14.7% increase over the comparable period in 2022 Annualized return on average assets of 1.0%, return on average tangible common equity1 of 14.3% and adjusted core efficiency ratio1 of 60.23% For additional information, please refer to the 3Q23 Earnings Investor Presentation Message from our Chairman & CEO Third Quarter Financial Results Net income for First Busey Corporation (“Busey,” “Company,” “we,” “us,” or “our”) was $30.7 million for the third quarter of 2023, or $0.54 per diluted common share, compared to $29.4 million, or $0.52 per diluted common share, for the second quarter of 2023, and $35.7 million, or $0.64 per diluted common share, for the third quarter of 2022.

First Busey Corporation Announces 2023 Third Quarter Earnings

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While the top- and bottom-line numbers for First Busey (BUSE) give a sense of how the business performed in the quarter ended June 2023, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.

First Busey (BUSE) Reports Q2 Earnings: What Key Metrics Have to Say

First Busey (BUSE) came out with quarterly earnings of $0.52 per share, missing the Zacks Consensus Estimate of $0.56 per share. This compares to earnings of $0.54 per share a year ago.

First Busey (BUSE) Misses Q2 Earnings and Revenue Estimates

First Busey Reports Second Quarter Net Income of $29.4 million and Diluted EPS of $0.52 First Busey Reports Second Quarter Net Income of $29.4 million and Diluted EPS of $0.52

First Busey Announces 2023 Second Quarter Earnings

First Busey (BUSE) to Report Q2 Results: Wall Street Expects Earnings Growth

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NEW YORK--(BUSINESS WIRE)-- #KBRA--On April 14, 2023, KBRA affirmed the senior unsecured debt rating of BBB+, the subordinated debt rating of BBB, and the short-term debt rating of K2 for Champaign, Illinois based First Busey Corporation (NASDAQ: BUSE) (“the company”). In addition, KBRA affirmed the deposit and senior unsecured debt ratings of A-, the subordinated debt rating of BBB+, and the short-term deposit and debt ratings of K2 for its subsidiary, Busey Bank. The Outlook for all long-term ratings.

KBRA Releases Surveillance Report for First Busey Corporation

While the top- and bottom-line numbers for First Busey (BUSE) give a sense of how the business performed in the quarter ended March 2023, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.

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