Company Overview - First Busey (BUSE) is headquartered in Leawood and operates in the Finance sector. The stock has experienced a price change of -5.69% since the beginning of the year [3]. Dividend Information - First Busey currently pays a dividend of $0.25 per share, resulting in a dividend yield of 4.5%. This yield is significantly higher than the Banks - Midwest industry's yield of 3.17% and the S&P 500's yield of 1.56% [3]. - The company's annualized dividend of $1 has increased by 4.2% from the previous year. Over the last five years, First Busey has raised its dividend three times, averaging an annual increase of 2.21% [4]. - The current payout ratio for First Busey is 46%, indicating that it distributes 46% of its trailing 12-month earnings per share as dividends [4]. Earnings Growth - The Zacks Consensus Estimate for First Busey's earnings in 2025 is projected at $2.54 per share, reflecting a year-over-year earnings growth rate of 22.12% [5]. Investment Considerations - Dividends are favored by investors for various reasons, including improving stock investing profits and providing tax advantages. However, not all companies offer quarterly payouts [6]. - High-growth firms or tech start-ups typically do not provide dividends, while larger, established companies are often viewed as better dividend options. Income investors should be aware that high-yielding stocks may face challenges during periods of rising interest rates [7]. - First Busey is considered a compelling investment opportunity due to its strong dividend profile and current Zacks Rank of 3 (Hold) [7].

LEAWOOD, Kan., May 20, 2025 (GLOBE NEWSWIRE) -- First Busey Corporation (“Busey”) (Nasdaq: BUSE), the holding company for Busey Bank and CrossFirst Bank, today announced the closing of its previously announced underwritten public offering of 8,600,000 depositary shares (inclusive of 600,000 depositary shares offered in connection with the partial exercise of the underwriters’ over-allotment option), each representing a 1/40th ownership interest in a share of its 8.25% Fixed Rate Series B Non-Cumulative Perp ...

LEAWOOD, Kan., May 14, 2025 (GLOBE NEWSWIRE) -- First Busey Corporation (“Busey”) (Nasdaq: BUSE), the holding company for Busey Bank and CrossFirst Bank, announced the pricing of an underwritten public offering of 8,000,000 depositary shares, each representing a 1/40th ownership interest in a share of its 8.25% Fixed Rate Series B Non-Cumulative Perpetual Preferred Stock (the “Series B preferred stock”), with a liquidation preference of $1,000 per share (equivalent to $25.00 per depositary share). When, as, ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q ☑ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Quarterly Period Ended March 31, 2025 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Commission File No. 0-15950 Registrant's telephone number, including area code: (217) 365-4544 100 West University Avenue, Champaign, Illinois 61820 (Former name, former address, and f ...

First Busey (BUSE) reported $124.95 million in revenue for the quarter ended March 2025, representing a year-over-year increase of 12.8%. EPS of $0.57 for the same period compares to $0.47 a year ago.The reported revenue represents a surprise of -9.55% over the Zacks Consensus Estimate of $138.14 million. With the consensus EPS estimate being $0.53, the EPS surprise was +7.55%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Str ...

Group 1 - First Busey reported quarterly earnings of $0.57 per share, exceeding the Zacks Consensus Estimate of $0.53 per share, and up from $0.47 per share a year ago, representing an earnings surprise of 7.55% [1] - The company posted revenues of $124.95 million for the quarter ended March 2025, which missed the Zacks Consensus Estimate by 9.55%, compared to year-ago revenues of $110.77 million [2] - First Busey shares have declined approximately 15.6% since the beginning of the year, while the S&P 500 has decreased by 12.3% [3] Group 2 - The current consensus EPS estimate for the upcoming quarter is $0.62 on revenues of $193.68 million, and for the current fiscal year, it is $2.54 on revenues of $730.02 million [7] - The Zacks Industry Rank for Banks - Midwest is in the top 13% of over 250 Zacks industries, indicating a favorable outlook for the industry [8] - Independent Bank, another company in the same industry, is expected to report quarterly earnings of $0.70 per share, reflecting a year-over-year change of -7.9% [9]

Financial Performance - First Busey Corporation reported a net loss of $30.0 million, or $(0.44) per diluted common share, for Q1 2025, compared to net income of $28.1 million, or $0.49 per diluted common share, in Q4 2024[11]. - Adjusted net income for Q1 2025 was $39.9 million, or $0.57 per diluted common share, up from $30.9 million, or $0.53 per diluted common share, in Q4 2024[11]. - Adjusted pre-provision net revenue was $54.7 million for Q1 2025, compared to $42.0 million in Q4 2024[12]. - The effective income tax rate for Q1 2025 was 8.20%, significantly lower than 24.77% in Q4 2024[11]. - Adjusted net income for Q1 2025 was $39,898 thousand, up from $30,872 thousand in Q4 2024 and $25,713 thousand in Q1 2024, showing increases of 29.5% and 55.2% respectively[63]. - The diluted earnings per share (GAAP) for Q1 2025 was $(0.44), compared to $0.49 in Q4 2024 and $0.46 in Q1 2024[63]. Revenue and Income Sources - Net interest income increased to $103.7 million in Q1 2025, compared to $81.6 million in Q4 2024 and $75.9 million in Q1 2024[13]. - The net interest margin improved to 3.16% in Q1 2025, up from 2.95% in Q4 2024 and 2.79% in Q1 2024[14]. - Total noninterest income decreased by 39.7% compared to Q4 2024, primarily due to net securities losses related to a strategic balance sheet repositioning[15]. - Wealth management fees increased by 3.4% quarter-over-quarter and 11.7% year-over-year, with $13.68 billion in assets under care[18]. - Payment technology solutions revenue decreased by 11.1% year-over-year, primarily due to declines in electronic and online payment income[18]. - Customer service fees increased by 15.2% year-over-year, driven by higher analysis charges and ATM fees[18]. Expenses and Efficiency - Total noninterest expense rose by 47.3% quarter-over-quarter and 62.7% year-over-year, largely due to one-time acquisition expenses from the CrossFirst acquisition[19]. - Adjusted noninterest expense was $82.9 million, up from $72.6 million in the previous quarter and $68.6 million a year ago[20]. - Busey's efficiency ratio was 79.3% for Q1 2025, compared to 64.5% in Q4 2024 and 58.1% in Q1 2024[21]. - Total noninterest expense for Q1 2025 was $115,171 thousand, significantly higher than $78,167 thousand in Q4 2024 and $70,769 thousand in Q1 2024, reflecting increases of 47.4% and 62.8% respectively[71]. - The efficiency ratio (Non-GAAP) for Q1 2025 was 79.35%, compared to 64.45% in Q4 2024 and 58.13% in Q1 2024, indicating a decline in efficiency[71]. Assets and Loans - Total assets reached $19.46 billion as of March 31, 2025, up from $12.05 billion at the end of Q4 2024[27]. - Portfolio loans totaled $13.87 billion, an increase from $7.70 billion at the end of Q4 2024[28]. - Average interest-earning assets were $13.36 billion for Q1 2025, compared to $11.05 billion in Q4 2024[27]. - Total assets increased to $19,464,252 thousand as of March 31, 2025, up from $12,046,722 thousand as of December 31, 2024, representing a growth of 61.5%[75]. - Core deposits reached $14,769,899 thousand, a significant increase from $9,634,897 thousand as of December 31, 2024, reflecting a growth of 53.5%[77]. Credit Quality and Losses - Non-performing loans rose to $54.72 million, a $31.5 million increase from December 31, 2024, representing 0.39% of portfolio loans[34]. - Non-performing assets increased to $59.48 million, a $36.2 million increase from December 31, 2024, accounting for 0.31% of total assets[35]. - The allowance for credit losses was $195.2 million, representing 1.41% of total portfolio loans, with a coverage ratio of 3.57 times non-performing loans[37]. - Net charge-offs for the first quarter of 2025 were $31.43 million, an increase of $28.6 million from the previous quarter[38]. Acquisition and Integration - The acquisition of CrossFirst Bankshares, completed on March 1, 2025, is expected to enhance financial performance and create a premier commercial bank across multiple states[6]. - The combined company will operate 78 full-service locations across 10 states, with Busey common stock continuing to trade under the "BUSE" ticker symbol[6]. - The acquisition was accretive to tangible book value, exceeding initial projections of a six-month earn back period[9]. - Busey anticipates $25 million in annual pre-tax expense synergies from the CrossFirst acquisition, with a 50% realization rate expected in 2025[19]. - The company anticipates merging CrossFirst Bank into Busey Bank on June 20, 2025, following the acquisition[51]. - The provision for unfunded commitments included a Day 2 provision expense of $3,139 thousand related to the CrossFirst acquisition[72]. Market Position and Outlook - Busey is actively monitoring economic factors that could impact financial performance, including inflation and competition from non-bank entities[79]. - The acquisition of CrossFirst is expected to enhance Busey's market position, although integration costs may exceed initial estimates[79]. - Forward-looking statements indicate a cautious outlook due to potential economic uncertainties and regulatory changes[78].

Core Insights - Busey completed the acquisition of CrossFirst Bankshares on March 1, 2025, which significantly impacted its financial performance and set a new baseline for future quarters [1][4][7] Financial Performance - Busey reported a net loss of $30.0 million, or $(0.44) per diluted share, for Q1 2025, compared to net income of $28.1 million, or $0.49 per diluted share, in Q4 2024 [2][9] - Adjusted net income for Q1 2025 was $39.9 million, or $0.57 per diluted share, up from $30.9 million, or $0.53 per diluted share, in Q4 2024 [10] - Net interest income increased to $103.7 million in Q1 2025 from $81.6 million in Q4 2024 [14] - Total noninterest income decreased by 39.7% compared to Q4 2024, primarily due to net securities losses [17] Acquisition Impact - The acquisition was accretive to tangible book value, exceeding initial projections of a six-month earn-back period [7] - Busey will operate CrossFirst Bank as a separate subsidiary until its merger with Busey Bank, expected on June 20, 2025 [6] Balance Sheet Strength - Total assets reached $19.46 billion as of March 31, 2025, compared to $12.05 billion at the end of 2024 [34] - Portfolio loans increased to $13.87 billion as of March 31, 2025, from $7.70 billion at the end of 2024 [35] Asset Quality - Non-performing loans increased to $54.7 million as of March 31, 2025, compared to $23.2 million at the end of 2024 [42] - The allowance for credit losses was $195.2 million, representing 1.41% of total portfolio loans [45] Capital Strength - Busey's Common Equity Tier 1 ratio was estimated at 11.99% as of March 31, 2025, down from 14.10% at the end of 2024 [56] - Tangible common equity increased to $1.68 billion as of March 31, 2025, compared to $1.02 billion at the end of 2024 [57] Dividend and Stock Repurchase - The company paid a dividend of $0.25 per share in Q1 2025, a 4.2% increase from the previous quarter [59] - Busey resumed stock repurchases, buying back 220,000 shares at an average price of $21.98 per share [60]

Company Overview - First Busey (BUSE) is based in Champaign and operates in the Finance sector, with a year-to-date share price change of -15.15% [3] - The company currently pays a dividend of $0.25 per share, resulting in a dividend yield of 5%, which is significantly higher than the Banks - Midwest industry's yield of 3.6% and the S&P 500's yield of 1.68% [3] Dividend Analysis - First Busey's current annualized dividend of $1 represents a 4.2% increase from the previous year [4] - Over the past five years, the company has increased its dividend three times, averaging an annual increase of 2.21% [4] - The company's payout ratio stands at 46%, indicating that it distributes 46% of its trailing 12-month earnings per share as dividends [4] Earnings Growth Expectations - The Zacks Consensus Estimate for First Busey's earnings in 2025 is projected at $2.54 per share, reflecting a year-over-year earnings growth rate of 22.12% [5] Investment Considerations - First Busey is positioned as a compelling investment opportunity due to its strong dividend profile and current Zacks Rank of 3 (Hold) [7]

Company Overview - First Busey (BUSE) is expected to report quarterly earnings of $0.53 per share, reflecting a year-over-year increase of +12.8% [3] - Revenues are anticipated to reach $138.14 million, which is a 24.7% increase from the same quarter last year [3] Earnings Expectations - The consensus EPS estimate has been revised 0.54% higher in the last 30 days, indicating a positive reassessment by analysts [4] - The Most Accurate Estimate for First Busey matches the Zacks Consensus Estimate, resulting in an Earnings ESP of 0% [10][11] Earnings Surprise History - In the last reported quarter, First Busey exceeded the expected earnings of $0.52 per share by delivering $0.53, resulting in a surprise of +1.92% [12] - Over the past four quarters, the company has beaten consensus EPS estimates three times [13] Industry Comparison - Huntington Bancshares (HBAN), another player in the Zacks Banks - Midwest industry, is expected to report earnings of $0.31 per share, a year-over-year increase of +10.7% [17] - Revenues for Huntington Bancshares are projected to be $1.9 billion, up 7.3% from the previous year [17] - The consensus EPS estimate for Huntington Bancshares has been revised down by 1.8% over the last 30 days, resulting in an Earnings ESP of -2.16% [18]