secwatch.observer — SEC 8-K summary
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Issuer:     FIRST BUSEY CORP /NV/ (BUSE)
CIK:        0000314489
Form:       8-K
Filed at:   2024-01-23T23:59:59+00:00
Accession:  0000314489-24-000012
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/314489/000031448924000012/0000314489-24-000012-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/314489/000031448924000012/buse-20240123.htm
  HTML page:      https://secwatch.observer/filing/0000314489-24-000012

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer