Quarterly ResultMay 7, 2026, 04:24 PM
First Busey Q1 Net Income $49.98M; EPS $0.52 vs. Loss Last Year
AI Summary
First Busey Corporation reported a strong financial turnaround for the first quarter of 2026, achieving a net income of $49.98 million, or $0.52 per basic common share, compared to a net loss of $29.99 million, or $0.44 loss per share, in the same period last year. This improvement was driven by a significant increase in net interest income to $153.97 million and a substantial reduction in the provision for credit losses. The company also noted a subsequent event where its revolving line of credit was increased to $50.0 million with a reduced interest rate.
Key Highlights
- Net income was $49.98 million for Q1 2026, a significant improvement from a $29.99 million net loss in Q1 2025.
- Basic earnings per common share were $0.52 for Q1 2026, compared to a basic loss per share of $0.44 in Q1 2025.
- Net interest income increased to $153.97 million in Q1 2026 from $103.73 million in Q1 2025.
- Provision for credit losses decreased substantially to $3.06 million in Q1 2026 from $45.59 million in Q1 2025.
- Total assets were $18.04 billion as of March 31, 2026, a slight decrease from $18.10 billion at December 31, 2025.
- Total deposits were $14.74 billion as of March 31, 2026, down from $14.91 billion at December 31, 2025.
- Acquisition-related expenses decreased to $5.24 million in Q1 2026 from $71.50 million in Q1 2025.
- Revolving line of credit increased to $50.0 million with a reduced interest rate, effective April 30, 2026.
Price Impact
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