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), a diversified financial services leader with 145+ years of operation, maintains three core divisions: community banking through Busey Bank, innovative payment solutions via FirsTech, and comprehensive wealth management services. This page serves as the definitive source for official announcements and market-moving developments.
Investors and stakeholders will find curated updates including quarterly earnings disclosures, merger/acquisition activity, leadership changes, and technological advancements. Our repository consolidates essential information about commercial banking initiatives, wealth management strategies, and fintech innovations to support informed decision-making.
Content spans regulatory filings, strategic partnership announcements, product launches, and recognition of operational milestones. Regular updates ensure visibility into First Busey's community-focused banking approach while tracking its expansion in payment technology markets.
Bookmark this page for streamlined access to First Busey's financial narrative. Combine periodic checks with SEC filings and earnings calls for complete perspective on this NASDAQ-listed financial holding company's performance.
First Busey Corporation (Nasdaq: BUSE) reported a net income of $36.8 million for the first quarter of 2023, translating to diluted EPS of $0.65, marking a 27.5% increase year-over-year. Key highlights include a core loan growth of $58.2 million, a tangible common equity ratio of 7.05%, and non-performing assets at 0.13% of total assets. Net interest income reached $85.9 million, while the net interest margin was 3.13%. Despite positive growth, the company anticipates a potential slowdown in loan growth due to a deteriorating economic outlook. The core deposit ratio remains strong at 97.9%, but non-interest income has declined slightly to 27.4% of total revenue, affected by the Durbin Amendment. The company’s dividend increased to $0.24 per share, reflecting its commitment to shareholder returns.
First Busey Corporation reported a fourth quarter net income of $34.4 million or $0.61 per diluted share, a slight decrease from $35.7 million in the previous quarter. Adjusted net income was $36.3 million with an adjusted diluted EPS of $0.65, consistent with the prior quarter. The net interest margin improved to 3.24%, representing a 24-basis point increase, while core loans grew by $56.2 million at a 2.90% annualized rate. Non-performing assets remained low at 0.13% of total assets. However, an increase in the effective tax rate to 24.7% from 19.2% negatively impacted results.
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