secwatch.observer — SEC 8-K summary
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Issuer:     FIRST BUSEY CORP /NV/ (BUSE)
CIK:        0000314489
Form:       8-K
Filed at:   2024-04-23T23:59:59+00:00
Accession:  0000314489-24-000121
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/314489/000031448924000121/0000314489-24-000121-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/314489/000031448924000121/buse-20240423.htm
  HTML page:      https://secwatch.observer/filing/0000314489-24-000121

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