other material
confidence high
sentiment neutral
materiality 0.50
Busey updates at investor conferences with Q1 2024 metrics; M&M acquisition closed
FIRST BUSEY CORP /NV/
- Total assets $11.9B, loans $7.6B, deposits $10.0B, wealth AUC $12.8B (+13.9% YoY) as of 3/31/24.
- NIM 2.79% in Q1 2024, inflecting higher; net new loan funding yield 7.91%.
- Wealth segment Q1 revenue $15.7M (second-best quarterly); FirsTech Q1 revenue $6.0M (record).
- M&M Bank Corp acquisition closed 4/1/24, adding ~$0.5B assets; bank merger expected June 2024.
- Capital strong: CET1 13.4%, total RBC 17.9%; TBV per share $16.84, up 11.2% YoY.