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 Corporation (BUSE) completed its acquisition of Cummins-American Corp. on May 31, 2021, enhancing its presence in the Chicago-Naperville-Elgin MSA. Shareholders of Cummins-American received a conversion of 444.4783 shares of Busey stock and $14,173.96 in cash, totaling an implied purchase price of $37,666.85 per share, with the transaction valued at approximately $187 million. The merger is expected to solidify Busey’s position in Illinois, with combined assets of $12.3 billion and an improved deposit share ranking from #32 to #20 in the MSA.
First Busey Corporation (BUSE) reported a strong performance in Q1 2021, with net income of $37.8 million and diluted EPS of $0.69, up from $15.4 million and $0.28 in Q1 2020. Adjusted net income also increased to $38.1 million compared to $34.3 million in the prior quarter. Wealth management assets rose to $10.69 billion. However, net interest income fell to $64.9 million due to lower PPP loan income and a declining net interest margin of 2.72%. The company is finalizing the acquisition of Cummins-American Corp., enhancing its market presence.
First Busey Corporation (Nasdaq: BUSE) reported a fourth quarter 2020 net income of $28.3 million with a diluted EPS of $0.52. Adjusted net income increased to $34.3 million and adjusted diluted EPS rose to $0.62, reflecting a year-over-year increase. Full-year net income reached $100.3 million and diluted EPS was $1.83. The tangible book value per share increased by 7.8% year-over-year. Wealth management assets under care grew to $10.23 billion at year-end 2020. A dividend of $0.23 per common share was declared for January 2021.
First Busey Corporation (NASDAQ:BUSE) has announced its acquisition of Cummins-American Corp. and Glenview State Bank through a merger agreement. This strategic move will enhance Busey's presence in the Chicagoland MSA, improving its deposit share ranking from #32 to #20. The transaction valued at approximately $190.8 million is expected to close in Q2 2021. The merger will result in combined assets of $11.9 billion across 70 locations, enhancing Busey's offerings in commercial banking, wealth management, and deposit services.
First Busey Corporation reported strong performance in Q3 2020, with net income rising to $30.8 million or $0.56 per diluted share, up from $25.8 million in Q2 2020. Adjusted net income reached $32.8 million, yielding an adjusted EPS of $0.60. Non-interest income was $32.3 million, contributing 32% to total revenue. Although total assets decreased to $10.54 billion, tangible book value increased by 7.9% YoY. The company anticipates $3.3 million in expense savings from branch consolidations.
First Busey Corporation (NASDAQ: BUSE) appointed Samuel P. Banks as an independent director on September 23, 2020, expanding the board to 10 members. Banks has served as a director of Busey Bank since 1994 and has extensive experience in financial institutions. As CEO of the Don Moyer Boys and Girls Club, he has contributed to improving services for at-risk youth. With leadership background in notable child service organizations, Banks also holds a bachelor's from Quincy University and a master's from the University of Illinois-Chicago.
First Busey Corporation (BUSE) reported a net income of $25.8 million in Q2 2020, or $0.47 per diluted share, up from $15.4 million in Q1 2020. Adjusted net income was $26.2 million. The bank's total assets surpassed $10 billion, triggering increased regulatory scrutiny. The pre-provision net revenue reached $45.4 million, reflecting a rise from previous quarters. However, the bank anticipates continued economic challenges due to COVID-19, which may impact margins, provisions for credit losses, and asset quality in the future.
First Busey Corporation (NASDAQ: BUSE) has shifted its Annual Meeting of Stockholders to a virtual format due to COVID-19 restrictions in Illinois, prioritizing stakeholder health. The meeting is set for May 20, 2020, at 5:00 p.m. Central Time. Stockholders eligible to vote are those on record as of March 23, 2020. The proxy card from earlier communications remains valid. Attendees can join online to vote and ask questions via this link. Further details are available in the proxy statement supplement filed on May 4, 2020.
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