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.
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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.
First Busey reported a net income of $35.7 million for Q3 2022, translating to a diluted EPS of $0.64, up from $29.8 million or $0.53 in Q2 2022. Adjusted net income was $36.4 million with an adjusted EPS of $0.65. Total deposits grew by $204.2 million, representing a 7.8% annualized growth rate. The net interest margin rose to 3.00%, a 32-basis point increase from Q2. However, noninterest income saw a decline, attributed to $2.4 million lost due to the Durbin Amendment.
First Busey Corporation (Nasdaq: BUSE) reported second quarter 2022 net income of $29.8 million, or $0.53 per diluted share, reflecting a strong core loan growth of $249.1 million and a 13.8% annualized growth rate. Adjusted net income stood at $30.1 million, with adjusted EPS of $0.54. The company completed a $100 million subordinated debt issuance to enhance its capital position and maintain a net interest margin of 2.68%. Non-performing assets were low at 0.15% of total assets, indicating robust asset quality.
First Busey Corporation (NASDAQ: BUSE) announced the pricing of its public offering of $100 million in 5.000% Fixed-to-Floating Rate Subordinated Notes due 2032. The notes will accrue interest at 5.000% until June 15, 2027, and subsequently at a floating rate. The offering is expected to close on June 2, 2022. The company estimates net proceeds of approximately $98.5 million, to be used for general corporate purposes including growth capital, debt repayment, and regulatory capital investments. Piper Sandler & Co. and U.S. Bancorp Investments, Inc. are managing the offering.
First Busey Corporation (BUSE) reported its first quarter 2022 results, with a net income of $28.4 million and diluted earnings per share (EPS) of $0.51, down from $37.8 million and $0.69 per share in Q1 2021. Adjusted net income was $29.1 million, or $0.52 per diluted share. Core loan growth was $127.1 million, representing 7.2% annualized growth. Non-performing assets decreased to 0.13% of total assets. Wealth management assets under care totaled $12.33 billion, down from $12.73 billion in Q4 2021 but reflecting 15.3% year-over-year growth. Noninterest income increased to $35.8 million.
First Busey Corporation (Nasdaq: BUSE) reported solid fourth quarter 2021 results with net income of $29.9 million and diluted EPS of $0.53. Adjusted net income was $34.3 million, or $0.61 per diluted share. Full year 2021 net income totaled $123.4 million, with diluted EPS of $2.20. Core loan growth was $141.6 million, while wealth management assets increased to $12.73 billion, representing a 24.5% year-over-year growth. The company also announced a quarterly cash dividend of $0.23 per share. Despite challenges from COVID-19, the outlook remains optimistic for 2022.
First Busey Corporation (BUSE) reported a net income of $25.9 million for Q3 2021, with a diluted EPS of $0.46, down from $0.53 in Q2 2021 and $0.56 in Q3 2020. Adjusted net income rose to $32.8 million, or $0.58 per share. Core loan growth reached $177.1 million, excluding PPP loans. Wealth management assets under care increased to $12.36 billion, up 30.1% YoY. However, net interest margin declined to 2.41% from 2.50% in the previous quarter. The company successfully merged Glenview State Bank and initiated a Personal Banking Transformation Plan, expected to realize $3.5 million in annual cost savings.
First Busey Corporation (Nasdaq: BUSE) reported a net income of $29.8 million for Q2 2021, with diluted EPS of $0.53, up from $25.8 million and $0.47 in Q2 2020. Adjusted net income reached $31.9 million, or $0.57 per share. The acquisition of Cummins-American Corp. was finalized, contributing to a significant increase in wealth management assets under care, now at $12.30 billion. However, net interest income decreased to $64.5 million, influenced by low interest rates and increased liquidity, while non-interest income grew to $33.0 million, a 17.6% rise from previous year.