logo
Twitter
Discord
Email
logo
First Busey Corporation

First Busey Corporation

NASDAQ•BUSE
CEO: Mr. Van A. Dukeman CFA
Sector: Financial Services
Industry: Banks - Regional
Listing Date: 1998-10-06
First Busey Corporation operates as the bank holding company for Busey Bank that engages in the provision of retail and commercial banking products and services to individual, corporate, institutional, and governmental customers in the United States. It operates through three segments: Banking, Wealth Management, and FirsTech. The Banking segment provides banking services to individual customers, such as demand and savings deposits, money transfers, safe deposit services, individual retirement accounts and other fiduciary services, automated teller machines, and technology-based networks, as well as loan products, including residential real estate, home equity lines of credit, and consumer loans. This segment also offers banking services to corporate customers, including commercial, commercial real estate, real estate construction, and agricultural loans, as well as cash management services. The Wealth Management segment offers a range of investment and asset management, investment, brokerage, investment strategy consulting, fiduciary, philanthropic advisory, tax preparation, business succession planning, and employee retirement plan services to individuals, businesses, and foundations; and professional farm management services to the agricultural industry. The FirsTech segment provides payment technology solutions comprising online, mobile, and voice-recognition bill payments; money management and credit card networks; direct debit services; lockbox remittance processing for payments made by mail; and walk-in payments, as well as tools to help clients with billing, reconciliation, bill reminders, and treasury services. The company was founded in 1868 and is headquartered in Champaign, Illinois.
Contact Information
100 West University Avenue, Champaign, IL, 61820, United States
217-365-4544
www.busey.com
Market Cap
$2.04B
P/E (TTM)
15.2
14.2
Dividend Yield
4.4%
52W High
$28.30
52W Low
$18.40
52W Range
46%
4.2
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Average • 4.2 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2015-2024

Financial Dashboard

Q3 2025 Data

Revenue

$178.42M+4.67%
4-Quarter Trend

EPS

$0.84+50.00%
4-Quarter Trend

FCF

$67.98M+14.03%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

Asset Base Expands Post-Acquisition Total assets reached $18.19B, a 51.0% increase YTD, driven by the CrossFirst acquisition; total deposits also grew 51.0% to $15.07B.
Net Interest Margin Improves Tax-equivalent NIM rose 48 basis points to 3.43% for nine months ended September 30, 2025, reflecting strong asset yields.
Allowance Rises Post-Acquisition ACL increased 108.8% to $174.18M, primarily due to initial provisioning for PCD loans assumed in the CrossFirst merger.
Strong Capital Ratios Maintained Common Equity Tier 1 ratio stands at 12.33%, significantly exceeding the 7.00% minimum requirement plus buffer.

Risk Factors

Non-Accrual Loans Elevated Non-accrual loans grew 108.7% to $46.10M, largely due to PCD loans assumed, requiring higher ACL coverage.
Noninterest Expense Spikes Total noninterest expense surged 61.5% YTD to $359.9M, heavily impacted by $49.8M in acquisition and restructuring costs.
CRE Payoff Pressure Noted Management expects continued pressure from commercial real estate loan payoffs through the remainder of 2025, impacting future production momentum.
State Tax Examination Ongoing Busey Bank is under examination by the Illinois Department of Revenue regarding M&M's tax filings for 2022 and 2023.

Outlook

Credit Quality Remains Focus Management remains focused on emphasizing credit quality over asset growth, aligning with singular credit policy post-merger.
CrossFirst Synergy Realization Annual pre-tax synergy estimates of $25.0M remain on track, anticipating 50% realization in 2025 and 100% in 2026.
Managing High-Cost Funding Busey executed a strategic reduction of $794.6M in high-cost, non-relationship deposits during Q3 2025.
Interest Rate Swaps Highly Effective Interest rate swaps designated as cash flow hedges are expected to remain highly effective through their remaining terms.

Peer Comparison

Revenue (TTM)

Bank OZKOZK
$2.80B
+2.5%
Hilltop Holdings Inc.HTH
$1.33B
-13.1%
Customers Bancorp, Inc.CUBI
$1.32B
-6.4%

Gross Margin (Latest Quarter)

Banner CorporationBANR
98.4%
+27.5 pp
Enterprise Financial Services CorpEFSC
83.6%
+20.5 pp
NBT Bancorp Inc.NBTB
76.6%
+5.2 pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
OZK$5.06B7.212.3%1.1%
NBTB$2.17B13.18.9%1.1%
CUBI$2.17B12.59.2%6.1%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
+2.5%
Moderate Growth
4Q Net Income CAGR
+26.7%
Profitability Improved
Cash Flow Stability
100%
Strong Cash Flow

Research & Insights

Reports
All Years
  • Form 10-Q - Q3 2025

    Period End: Sep 30, 2025|Filed: Nov 6, 2025|
    Revenue: $178.42M+4.7%
    |
    EPS: $0.84+50.0%
    Meet
  • Form 10-Q - Q2 2025

    Period End: Jun 30, 2025|Filed: Aug 5, 2025|
    Revenue: $292.31M+76.5%
    |
    EPS: $0.53+10.4%
    Miss
  • Form 10-Q - Q1 2025

    Period End: Mar 31, 2025|Filed: May 9, 2025|
    Revenue: $188.04M+17.0%
    |
    EPS: $-0.44-193.6%
    Miss
  • Form 10-K - FY 2024

    Period End: Dec 31, 2024|Filed: Feb 27, 2025|
    Revenue: $662.52M+10.3%
    |
    EPS: $2.01-9.0%
    Beat
  • Form 10-Q - Q3 2024

    Period End: Sep 30, 2024|Filed: Nov 5, 2024|
    Revenue: $170.45M+10.9%
    |
    EPS: $0.56+1.8%
    Beat
  • Form 10-Q - Q2 2024

    Period End: Jun 30, 2024|Filed: Aug 6, 2024|
    Revenue: $165.64M+14.3%
    |
    EPS: $0.48-9.4%
    Meet
  • Form 10-Q - Q1 2024

    Period End: Mar 31, 2024|Filed: May 7, 2024|
    Revenue: $160.73M+12.4%
    |
    EPS: $0.47-28.8%
    Miss
  • Form 10-K/A - FY 2023

    Period End: Dec 31, 2023|Filed: Feb 23, 2024|
    Revenue: $600.59M+23.4%
    |
    EPS: $2.21-4.7%
    Beat