First Busey Announces Fourth Quarter and Full Year 2020 Earnings

About this update from First Busey Corporation

[{"type":"text","content":"CHAMPAIGN, Ill., Jan. 26, 2021 (GLOBE NEWSWIRE) -- First Busey Corporation (Nasdaq: BUSE) Message from our Chairman & CEO Highlights of fourth quarter and full-year 2020 financial results: Fourth quarter 2020 net income of $28.3 million and diluted EPS of $0.52Fourth quarter 2020 adjusted net income1 of $34.3 million and adjusted diluted EPS1 of $0.62, an increase from $32.8 million and $0.60, respectively, in the third quarter of 2020, and $31.8 million and $0.57, respectively, in the fourth quarter of 2019Full year 2020 net income of $100.3 million and diluted EPS of $1.83 Full year 2020 adjusted net income1 of $108.7 million and adjusted diluted EPS1 of $1.98Tangible book value per common share1 of $16.66 at December 31, 2020, as compared to $16.32 at September 30, 2020, and $15.46 at December 31, 2019, an increase of 7.8% year-over-yearWealth management assets under care of $10.23 billion at December 31, 2020, up from $9.50 billion at September 30, 2020, and $9.70 billion at December 31, 2019 Other recent highlights: Completion of the previously announced branch consolidation planDefinitive agreement to acquire Cummins-American Corp., the holding company for Glenview State BankTemporary relief via regulatory Interim Final Rule pronouncement on the interchange revenue impacts of the Durbin AmendmentJanuary 2021 dividend of $0.23 per common share, up from $0.22 in October 2020, which represents nearly a 5% increaseFor additional information, please refer to the 4Q20 Quarterly Earnings Supplement Fourth Quarter Financial ResultsNet income for First Busey Corporation (“First Busey” or the “Company”) for the fourth quarter of 2020 was $28.3 million, or $0.52 per diluted common share, as compared to $30.8 million, or $0.56 per diluted common share, for the third quarter of 2020 and $28.6 million, or $0.52 per diluted common share, for the fourth quarter of 2019. Adjusted net income1 for the fourth quarter of 2020 was $34.3 million, or $0.62 per diluted common share, as compared to $32.8 million, or $0.60 per diluted common share, for the third quarter of 2020 and $31.8 million, or $0.57 per diluted common share, for the fourth quarter of 2019. For the fourth quarter of 2020, annualized return on average assets and annualized return on average tangible common equity1 were 1.08% and 12.58%, respectively. Based on adjusted net income...

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