First Busey Corporation operates as the bank holding company for Busey Bank that provides retail and commercial banking products and services to individual, corporate, institutional, and governmental customers in the United States. The company operates through three segments: Banking, Remittance Processing, and Wealth Management. It offers customary types of demand and savings deposits; and commercial, agricultural, real estate construction, commercial and residential real estate, and consumer loans, as well as home equity lines of credit. The company also provides money transfer, safe deposit, IRA, and other fiduciary services through banking center, ATM and technology-based networks. In addition, it offers investment management, trust, estate advisory, and financial planning services, as well as business succession and employee retirement planning services; investment strategy consulting and fiduciary services; and security brokerage services. Further, the company provides asset and investment management; professional farm management; and commercial depository services, such as cash management services. Additionally, it offers payment processing solutions, such as walk-in payment processing for payments delivered by customers to retail pay agents; online bill payment solutions for payments made by customers on a billing company's website; customer service payments for payments accepted over the telephone; mobile bill pay; direct debit services; electronic concentration of payments delivered by the automated clearing house network; money management software and credit card networks; and lockbox remittance processing of payments delivered by mail. The company has 53 banking centers in Illinois; 10 in Missouri; 4 in southwest Florida; and 1 in Indianapolis, Indiana. The company was founded in 1868 and is headquartered in Champaign, Illinois.
IPO Year:
Exchange: NASDAQ
Website: busey.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 10/14/2024 | Overweight → Equal-Weight | Stephens | |
| 1/31/2022 | $31.00 | Market Perform → Outperform | Raymond James |
| 12/3/2021 | $27.00 → $28.00 | Neutral | B. Riley Securities |
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Stephens downgraded First Busey Corp from Overweight to Equal-Weight
Raymond James upgraded First Busey from Market Perform to Outperform and set a new price target of $31.00
B. Riley Securities reiterated coverage of First Busey with a rating of Neutral and set a new price target of $28.00 from $27.00 previously
Raymond James resumed coverage of First Busey with a rating of Hold
CHAMPAIGN, Ill., Oct. 22, 2024 (GLOBE NEWSWIRE) -- First Busey Corporation (NASDAQ:BUSE) Net Income of $32.0 millionDiluted EPS of $0.55 THIRD QUARTER 2024 HIGHLIGHTS Adjusted net income1 of $33.5 million, or $0.58 per diluted common shareNoninterest income of $36.0 million, or 30.5% of operating revenue1Record high quarterly revenue for the Wealth Management operating segmentTangible book value per common share1 of $18.19 at September 30, 2024, compared to $16.97 at June 30, 2024, and $15.07 at September 30, 2023, a year-over-year increase of 20.7%Tangible common equity1 increased to 8.96% of tangible assets at September 30, 2024, compared to 8.36% at June 30, 2024, and 7.06% at
CHAMPAIGN, Ill. and LEAWOOD, Kan., Aug. 27, 2024 (GLOBE NEWSWIRE) -- First Busey Corporation ("Busey") (NASDAQ:BUSE), the holding company for Busey Bank, and CrossFirst Bankshares, Inc. ("CrossFirst") (NASDAQ:CFB), the holding company for CrossFirst Bank, jointly announced today the signing of a definitive agreement and plan of merger, pursuant to which CrossFirst will merge with and into Busey (the "Merger") in an all-common stock transaction valued at approximately $916.8 million, based on Busey's closing stock price of $27.39 as of August 26, 2024. The combined company, which will operate under the Busey brand, will have approximately $20 billion in total assets, approximately $17 billi
CHAMPAIGN, Il., July 23, 2024 (GLOBE NEWSWIRE) -- First Busey Corporation (NASDAQ:BUSE) Net Income of $27.4 millionDiluted EPS of $0.47 SECOND QUARTER 2024 HIGHLIGHTS Adjusted net income1 of $29.0 million, or $0.50 per diluted common shareNet interest margin1 increased by 24 basis points to 3.03% from 2.79% in the prior quarterNoninterest income of $33.8 million, and adjusted noninterest income1 of $33.9 million, or 29.1% of operating revenue1Record high quarterly revenue for both the Wealth Management and FirsTech operating segmentsFinalized the acquisition of Merchants & Manufacturers Bank Corporation ("M&M") and its wholly owned subsidiary Merchants &
CHAMPAIGN, Ill., April 23, 2024 (GLOBE NEWSWIRE) -- First Busey Corporation (NASDAQ:BUSE) Net Income of $26.2 millionDiluted EPS of $0.46 FIRST QUARTER 2024 HIGHLIGHTS Adjusted net income1 of $26.5 million, or $0.47 per diluted common shareNet 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 accretiveAdjusted noninterest income1 of $33.9 million, or 30.9% of operating revenue2Record high revenue for FirsTech during the first quarter of 2024, and second-best quarter in Wealth Management division historyReceived regulatory and shareholder approvals needed to fina
CHAMPAIGN, Ill., Jan. 23, 2024 (GLOBE NEWSWIRE) -- First Busey Corporation (NASDAQ:BUSE) Net Income of $25.7 millionDiluted EPS of $0.46 Fourth Quarter 2023 Highlights Adjusted net income1 at $29.1 million, or $0.52 per diluted common shareEntered 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 accretiveNon-performing assets declined 34.4% during the fourth quarter of 2023, to $7.9 million, now representin
CHAMPAIGN, Ill., Oct. 24, 2023 (GLOBE NEWSWIRE) -- First Busey Corporation (NASDAQ:BUSE) Net Income of $30.7 millionDiluted 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 $0.55Total deposits increased $269.6 million, or 2.7%, quarter-over-quarter, to $10.33 billionShort-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 2023Non-performing assets declined 23.6% during the third quarter of 2023, to $12.1 million, now representing 0.10% of total assetsC
CHAMPAIGN, Ill., July 25, 2023 (GLOBE NEWSWIRE) -- First Busey Corporation (NASDAQ:BUSE) Message from our Chairman & CEO Second Quarter 2023 Highlights: Excluding net securities losses, net income1 for the second quarter of 2023 of $31.0 million or $0.55 per shareTotal deposits increased $261.6 million, or 2.7%, quarter-over-quarter, to $10.06 billionShort-term borrowings decreased to $212.0 million, compared to $615.9 million at the end of the first quarter of 2023Non-performing assets of 0.13% of total assets, and allowance for credit losses of 580.80% of nonperforming loansClassified assets declined to $81.9 million, compared to $103.9 million at the close of the first quarter of 202
CHAMPAIGN, Ill., April 25, 2023 (GLOBE NEWSWIRE) -- First Busey Corporation (NASDAQ:BUSE) Message from our Chairman & CEO First Quarter 2023 Highlights: Diluted earnings per share of $0.65, a 27.5% increase compared with the first quarter of 2022Core loan1 growth of $58.2 million, representing a 3.10% annualized growth rateNon-performing assets of 0.13% of total assets and allowance for credit losses of 602.91% of nonperforming loansAdjusted core efficiency ratio1 of 55.6%, improved from 59.9% in the first quarter of 2022Tangible common equity ratio1 of 7.05%, a 45 basis point increase from the fourth quarter of 2022Core deposits1 represent 97.9% of total deposits, while estimated unins
CHAMPAIGN, Ill., Jan. 24, 2023 (GLOBE NEWSWIRE) -- First Busey Corporation (NASDAQ:BUSE) Message from our Chairman & CEO Fourth Quarter 2022 Highlights: Adjusted quarterly net income1 of $36.3 million and adjusted diluted EPS1 of $0.65Net interest margin1 of 3.24% reflects a 24-basis point increase over prior quarterCore loan growth1 of $56.2 million, representing a 2.90% annualized growth rateNon-performing assets of 0.13% of total assets and allowance for credit losses of 582.01% of nonperforming loansFirsTech revenue2 of $5.4 million, representing 9.2% year-over-year growthAdjusted core efficiency ratio1 of 55.8%, compared to 57.6% in the fou
CHAMPAIGN, Ill., April 26, 2022 (GLOBE NEWSWIRE) -- First Busey Corporation (NASDAQ:BUSE) Message from our Chairman & CEO First Quarter 2022 Highlights: First quarter 2022 net income of $28.4 million and diluted EPS of $0.51First quarter 2022 adjusted net income1 of $29.1 million and adjusted diluted EPS1 of $0.52Core loan1 growth of $127.1 million, or 7.2% annualized, in the first quarterFirst quarter net interest margin increased nine basis points to 2.45% compared to 2.36% in the fourth quarter of 2021Non-performing assets declined to 0.13% of total assets in the first quarterWealth management assets under care of $12.33 billion at March 31, 2022, down from $12.73 at December 31, 202
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CHAMPAIGN, Ill., Oct. 22, 2024 (GLOBE NEWSWIRE) -- First Busey Corporation (NASDAQ:BUSE) Net Income of $32.0 millionDiluted EPS of $0.55 THIRD QUARTER 2024 HIGHLIGHTS Adjusted net income1 of $33.5 million, or $0.58 per diluted common shareNoninterest income of $36.0 million, or 30.5% of operating revenue1Record high quarterly revenue for the Wealth Management operating segmentTangible book value per common share1 of $18.19 at September 30, 2024, compared to $16.97 at June 30, 2024, and $15.07 at September 30, 2023, a year-over-year increase of 20.7%Tangible common equity1 increased to 8.96% of tangible assets at September 30, 2024, compared to 8.36% at June 30, 2024, and 7.06% at
CHAMPAIGN, Ill. and LEAWOOD, Kan., Aug. 27, 2024 (GLOBE NEWSWIRE) -- First Busey Corporation ("Busey") (NASDAQ:BUSE), the holding company for Busey Bank, and CrossFirst Bankshares, Inc. ("CrossFirst") (NASDAQ:CFB), the holding company for CrossFirst Bank, jointly announced today the signing of a definitive agreement and plan of merger, pursuant to which CrossFirst will merge with and into Busey (the "Merger") in an all-common stock transaction valued at approximately $916.8 million, based on Busey's closing stock price of $27.39 as of August 26, 2024. The combined company, which will operate under the Busey brand, will have approximately $20 billion in total assets, approximately $17 billi
CHAMPAIGN, Il., July 23, 2024 (GLOBE NEWSWIRE) -- First Busey Corporation (NASDAQ:BUSE) Net Income of $27.4 millionDiluted EPS of $0.47 SECOND QUARTER 2024 HIGHLIGHTS Adjusted net income1 of $29.0 million, or $0.50 per diluted common shareNet interest margin1 increased by 24 basis points to 3.03% from 2.79% in the prior quarterNoninterest income of $33.8 million, and adjusted noninterest income1 of $33.9 million, or 29.1% of operating revenue1Record high quarterly revenue for both the Wealth Management and FirsTech operating segmentsFinalized the acquisition of Merchants & Manufacturers Bank Corporation ("M&M") and its wholly owned subsidiary Merchants &
CHAMPAIGN, Ill., April 23, 2024 (GLOBE NEWSWIRE) -- First Busey Corporation (NASDAQ:BUSE) Net Income of $26.2 millionDiluted EPS of $0.46 FIRST QUARTER 2024 HIGHLIGHTS Adjusted net income1 of $26.5 million, or $0.47 per diluted common shareNet 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 accretiveAdjusted noninterest income1 of $33.9 million, or 30.9% of operating revenue2Record high revenue for FirsTech during the first quarter of 2024, and second-best quarter in Wealth Management division historyReceived regulatory and shareholder approvals needed to fina
CHAMPAIGN, Ill., Jan. 23, 2024 (GLOBE NEWSWIRE) -- First Busey Corporation (NASDAQ:BUSE) Net Income of $25.7 millionDiluted EPS of $0.46 Fourth Quarter 2023 Highlights Adjusted net income1 at $29.1 million, or $0.52 per diluted common shareEntered 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 accretiveNon-performing assets declined 34.4% during the fourth quarter of 2023, to $7.9 million, now representin
CHAMPAIGN, Ill., Oct. 24, 2023 (GLOBE NEWSWIRE) -- First Busey Corporation (NASDAQ:BUSE) Net Income of $30.7 millionDiluted 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 $0.55Total deposits increased $269.6 million, or 2.7%, quarter-over-quarter, to $10.33 billionShort-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 2023Non-performing assets declined 23.6% during the third quarter of 2023, to $12.1 million, now representing 0.10% of total assetsC
CHAMPAIGN, Ill., July 25, 2023 (GLOBE NEWSWIRE) -- First Busey Corporation (NASDAQ:BUSE) Message from our Chairman & CEO Second Quarter 2023 Highlights: Excluding net securities losses, net income1 for the second quarter of 2023 of $31.0 million or $0.55 per shareTotal deposits increased $261.6 million, or 2.7%, quarter-over-quarter, to $10.06 billionShort-term borrowings decreased to $212.0 million, compared to $615.9 million at the end of the first quarter of 2023Non-performing assets of 0.13% of total assets, and allowance for credit losses of 580.80% of nonperforming loansClassified assets declined to $81.9 million, compared to $103.9 million at the close of the first quarter of 202
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 is Stable. The ratings are underpinned by a conservatively managed balance sheet with limited loan concentration and leverage, strong funding capacity, and ample liquidity backstop. BUSE's highly diverse earnings profile also
CHAMPAIGN, Ill., April 25, 2023 (GLOBE NEWSWIRE) -- First Busey Corporation (NASDAQ:BUSE) Message from our Chairman & CEO First Quarter 2023 Highlights: Diluted earnings per share of $0.65, a 27.5% increase compared with the first quarter of 2022Core loan1 growth of $58.2 million, representing a 3.10% annualized growth rateNon-performing assets of 0.13% of total assets and allowance for credit losses of 602.91% of nonperforming loansAdjusted core efficiency ratio1 of 55.6%, improved from 59.9% in the first quarter of 2022Tangible common equity ratio1 of 7.05%, a 45 basis point increase from the fourth quarter of 2022Core deposits1 represent 97.9% of total deposits, while estimated unins
CHAMPAIGN, Ill., Jan. 24, 2023 (GLOBE NEWSWIRE) -- First Busey Corporation (NASDAQ:BUSE) Message from our Chairman & CEO Fourth Quarter 2022 Highlights: Adjusted quarterly net income1 of $36.3 million and adjusted diluted EPS1 of $0.65Net interest margin1 of 3.24% reflects a 24-basis point increase over prior quarterCore loan growth1 of $56.2 million, representing a 2.90% annualized growth rateNon-performing assets of 0.13% of total assets and allowance for credit losses of 582.01% of nonperforming loansFirsTech revenue2 of $5.4 million, representing 9.2% year-over-year growthAdjusted core efficiency ratio1 of 55.8%, compared to 57.6% in the fou
Keefe, Bruyette & Woods analyst Damon Delmonte reiterates First Busey (NASDAQ:BUSE) with a Outperform and raises the price target from $28 to $31.
First Busey (NASDAQ:BUSE) reported quarterly earnings of $0.50 per share which beat the analyst consensus estimate of $0.49 by 2.04 percent. This is a 3.85 percent decrease over earnings of $0.52 per share from the same period last year. The company reported quarterly sales of $116.23 million which missed the analyst consensus estimate of $116.35 million by 0.10 percent. This is a 8.95 percent increase over sales of $106.68 million the same period last year.
Stephens & Co. analyst Terry McEvoy reiterates First Busey (NASDAQ:BUSE) with a Overweight and maintains $28 price target.
First Busey (NASDAQ:BUSE) reported quarterly earnings of $0.47 per share which missed the analyst consensus estimate of $0.49 by 4.08 percent. This is a 27.69 percent decrease over earnings of $0.65 per share from the same period last year. The company reported quarterly sales of $110.767 million which beat the analyst consensus estimate of $109.091 million by 1.54 percent. This is a 5.89 percent decrease over sales of $117.705 million the same period last year.
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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. At the effective time of the merger, each share of M&M common stock converted to the right to receive, at the election of each shareholder, and subject to proration and adjustment as provided in the merger agreement, (i) $117.74 in cash, (ii) 5.7294 shares of Busey common stock, or (iii) mixed consideration of $34.55 in cash and 4.0481 shares of Busey c
- SEC Filing As previously announced, on November 27, 2023, First Busey Corporation, a Nevada corporation ("First Busey") entered into an Agreement and Plan of Merger (the "Merger Agreement") with Merchants and Manufacturers Bank Corporation, an Illinois corporation ("M&M"). Pursuant to the terms of the Merger Agreement, M&M will merge with and into First Busey, with First Busey as the surviving corporation (the "Merger").On March 20, 2024, M&M's shareholders voted to approve the Merger Agreement. Moreover, First Busey has received approval of the Merger from the Board of Governors of the Federal Reserve System. This approval was contingent on First Busey receiving all other regulatory appr
First Busey (NASDAQ:BUSE) reported quarterly Adj earnings of $0.52 per share which beat the analyst consensus estimate of $0.49 by 6.12 percent. This is a 20 percent decrease over earnings of $0.65 per share from the same period last year. The company reported quarterly sales of $107.89 million which beat the analyst consensus estimate of $107.87 million by 0.02 percent. This is a 10.26 percent decrease over sales of $120.23 million the same period last year.
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First Busey (NASDAQ:BUSE) is set to give its latest quarterly earnings report on Tuesday, 2024-01-23. Here's what investors need to know before the announcement. Analysts estimate that First Busey will report an earnings per share (EPS) of $0.49. First Busey bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter. New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast). Past Earnings Performance Last quarter the company beat EPS by $0.04, which was followed by a 1.39% drop in the share price t