Busey Q1 EPS $0.46, NIM 2.79%, completes M&M acquisition, tangible book up 11% YoY

FIRST BUSEY CORP /NV/

2024-Q1 EPS reported $0.46 revenue$110,767,000

Net income $26.2M ($0.46 diluted EPS); adjusted $26.5M ($0.47 EPS).
Net interest margin 2.79%, up 5 bps QoQ; balance sheet repositioning expected to add ~$3.3M annualized NII.
Completed acquisition of Merchants & Manufacturers Bank on April 1, 2024; issued ~1.43M shares and $12.2M cash.
Tangible book value per share $16.84 (+11.2% YoY); CET1 ratio 13.45%; dividend $0.24/ share unchanged.
Non-performing assets $17.6M (0.15% of assets); provision $5.0M, net charge-offs $5.2M from one commercial credit.

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 0.9

FIRST BUSEY CORP /NV/ reported first quarter of 2024 results: net income $26.2 million, EPS $0.46.

Period: first quarter of 2024
Net income: $26.2 million
EPS: $0.46
Result: reported results

Exact text from the filing

Net income for First Busey Corporation (“Busey,” “Company,” “we,” “us,” or “our”) was $26.2 million for the first quarter of 2024, or $0.46 per diluted common share, compared to $25.7 million, or $0.46 per diluted common share, for the fourth quarter of 2023, and $36.8 million, or $0.65 per diluted common share, for the first quarter of 2023.

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Source: SEC EDGAR

accession 0000314489-24-000121

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