Welcome to our dedicated page for First Busey news (Ticker: BUSE), a resource for investors and traders seeking the latest updates and insights on First Busey stock.
First Busey Corporation (Nasdaq: BUSE) is a financial holding company with operations centered on commercial banking, wealth management, and payment technology solutions. Its news flow reflects this diversified model, with frequent updates on earnings performance, capital actions, acquisitions, and strategic initiatives.
Investors following BUSE news will find detailed quarterly and annual earnings releases that discuss net interest income, net interest margin, noninterest income categories, credit quality, and capital ratios. These releases also highlight the contribution of fee-based businesses such as wealth management and payment technology solutions, including revenue from treasury management services, card services and ATM fees, and payment technology offerings at FirsTech, Inc.
Corporate news has also covered significant transactions and capital markets activity. A major recent theme has been the acquisition of CrossFirst Bankshares, Inc. and CrossFirst Bank, described by the company as a transformational partnership that expanded Busey’s commercial banking footprint across 10 states. Other announcements include the pricing and closing of depositary share offerings tied to First Busey’s 8.25% Fixed-Rate Series B Non-Cumulative Perpetual Preferred Stock, along with related plans to redeem subordinated notes and support balance sheet growth.
Additional BUSE news items include regulatory milestones, such as Federal Reserve approval for acquisitions, shareholder approvals of mergers, and periodic credit rating actions from agencies like KBRA that discuss earnings trends, asset quality, and funding costs. Dividend declarations on both common stock and preferred depositary shares are disclosed through Form 8‑K filings and press releases, providing insight into the company’s capital management approach.
This page aggregates these updates so readers can review First Busey’s financial results, strategic transactions, rating developments, and dividend announcements in one place and monitor how the company communicates its performance and strategy over time.
First Busey (BUSE) and CrossFirst Bankshares, Inc. (CFB) have announced a merger agreement valued at approximately $916.8 million. The all-stock transaction will create a combined entity with $20 billion in assets, operating under the Busey brand. The merger extends Busey's market presence to Arizona, Colorado, Kansas, New Mexico, Oklahoma, and Texas.
Key highlights:
- Combined company will have $17 billion in deposits and $13 billion in wealth management assets
- Expected to provide 20% EPS accretion for Busey in 2026
- Minimal tangible book value dilution of -0.6% with a 6-month earnback period
- CrossFirst shareholders will receive 0.6675 Busey shares for each CFB share
- Transaction expected to close in Q1 or Q2 2025, subject to approvals
First Busey (Nasdaq: BUSE) reported net income of $27.4 million and diluted EPS of $0.47 for Q2 2024, marking an increase from Q1 2024 but a decrease from Q2 2023. Adjusted net income was $29.0 million, or $0.50 per diluted share. The company's net interest margin rose by 24 basis points to 3.03%. Noninterest income stood at $33.8 million, with a record high in revenue for Wealth Management and FirsTech segments. The acquisition of Merchants & Manufacturers Bank was completed on April 1, 2024, and integrated by June 21, 2024.
Busey's tangible book value per common share rose to $16.97, an 11.3% year-over-year increase. Total assets were $11.97 billion, with portfolio loans reaching $8.00 billion. Noninterest expense rose to $75.5 million, and the allowance for credit losses was $85.2 million. Despite a $2.3 million provision for credit losses, asset quality remains strong, with non-performing assets at 0.08% of total assets.
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