Busey Q4 net income $25.7M ($0.46 EPS) vs $34.4M YoY; acquires M&M Bank for ~$41.6M

FIRST BUSEY CORP /NV/

2023-FY EPS reported $2.18 revenue$441,835,000

Diluted EPS $0.46 GAAP, adjusted EPS $0.52; revenue $107.9M.
Entered definitive agreement to acquire M&M Bank for ~$41.6M (71% stock, 29% cash), expected Q2 2024.
Executed balance sheet repositioning: sold $110M securities at 1.56%, reinvested at 5.40%; annualized NII benefit ~$4.3M.
Non-performing assets declined 34.4% to $7.9M (0.06% of assets); net charge-off ratio 0.02% annualized.
Tangible book value per share $16.62, up 17.5% YoY; CET1 ratio 13.09%.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

FIRST BUSEY CORP /NV/ reported the quarter ended December 31, 2023 results: net income $25.7 million, EPS $0.46 per diluted common share.

Period: the quarter ended December 31, 2023
Net income: $25.7 million
EPS: $0.46 per diluted common share
Result: reported results

Exact text from the filing

Net income for First Busey Corporation (“Busey,” “Company,” “we,” “us,” or “our”) was $25.7 million for the fourth quarter of 2023, or $0.46 per diluted common share

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8 earnings releases filed in the last 30 days. Browse all earnings releases →

FIRST BUSEY CORP /NV/ filing history →

Source: SEC EDGAR

accession 0000314489-24-000012

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