8-K
filed October 24, 2023, 7:59 PM ET
ticker BUSE
CIK 0000314489
earnings
confidence high
sentiment neutral
materiality 0.80
Busey Q3 net income $30.7M, EPS $0.54; CEO Robin Elliott departs, Van Dukeman takes over bank role
FIRST BUSEY CORP /NV/
2023-Q3 EPS reported
$1.72
- Net income $30.7M ($0.54 diluted EPS) vs $29.4M ($0.52) in Q2 2023 and $35.7M ($0.64) in Q3 2022.
- Total deposits rose $269.6M to $10.33B; short-term borrowings cut to $12M from $212M in Q2.
- Non-performing assets fell 23.6% to $12.1M (0.10% of assets); classified assets down to $59.6M.
- Robin Elliott left as President/CEO of Busey Bank and CEO of FirsTech; Van Dukeman appointed Bank President/CEO.
- Elliott to receive severance plus $1,007,526 for forfeited RSUs, paid over one year starting March 2024.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
FIRST BUSEY CORP /NV/ reported Q3 2023 results: net income 30.9 million, EPS $0.55.
- Period
- Q3 2023
- Net income
- 30.9 million
- EPS
- $0.55
- Result
- reported results
Exact text from the filing
Net income excluding net securities losses 1 for the third quarter of 2023 would have been $30.9 million, resulting in adjusted diluted EPS excluding net securities gains and losses 1 of $0.55.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Robin N. Elliott departed as President and Chief Executive Officer of Busey Bank at FIRST BUSEY CORP /NV/.
- Action
- departed
- Role
- President and Chief Executive Officer of Busey Bank
Exact text from the filing
Robin N. Elliott, a named executive officer of the Company, has departed from his role as President and Chief Executive Officer of Busey Bank (the “Bank”) and his role as Chairman and Chief Executive Officer of FirsTech, Inc. (“FirsTech”), effective October 23, 2023
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Van A. Dukeman was appointed as President and Chief Executive Officer of Busey Bank at FIRST BUSEY CORP /NV/.
- Action
- appointed
- Role
- President and Chief Executive Officer of Busey Bank
Exact text from the filing
Van A. Dukeman has been appointed, effective October 23, 2023, President and Chief Executive Officer of the Bank in addition to his current role as Chairman of the Bank and Chairman, President, and Chief Executive Officer of the Company.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Humair Ghauri was appointed as Chief Executive Officer of FirsTech at FIRST BUSEY CORP /NV/.
- Action
- appointed
- Role
- Chief Executive Officer of FirsTech
Exact text from the filing
Humair Ghauri has been appointed Chief Executive Officer of FirsTech in addition to his current role as President of FirsTech.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Amy L. Randolph was appointed as Executive Vice President, Chief Operating Officer at FIRST BUSEY CORP /NV/.
- Action
- appointed
- Role
- Executive Vice President, Chief Operating Officer
Exact text from the filing
Effective October 23, 2023, Amy L. Randolph, a named executive officer of the Company, was appointed Executive Vice President, Chief Operating Officer of the Company.
View on SEC.gov
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