First Busey ( (BUSE) ) has released its Q4 earnings. Here is a breakdown of the information First Busey presented to its investors.
Invest with Confidence:
- Follow TipRanks' Top Wall Street Analysts to uncover their success rate and average return.
- Join thousands of data-driven investors – Build your Smart Portfolio for personalized insights.
First Busey Corporation is a financial holding company primarily operating in the banking sector through its wholly-owned subsidiary, Busey Bank. The company offers banking services, wealth management, and financial technology solutions across several U.S. states.
In its fourth quarter 2024 earnings report, First Busey Corporation announced a net income of $28.1 million, reflecting a slight decline from the previous quarter. The company achieved record high revenue in its Wealth Management segment and announced progress in its planned merger with CrossFirst Bankshares, Inc.
Key financial performance metrics for the quarter included an adjusted net income of $30.7 million and a tangible book value per share increase of 7.6% year-over-year. The merger with CrossFirst is expected to create a larger commercial bank with substantial assets, deposits, and loans.
Looking forward, First Busey Corporation remains optimistic about its growth prospects and efficiency improvements post-merger. The company continues to focus on conservative banking strategies and enhancing its service offerings to maintain profitability and shareholder value.
