First Busey Corporation Announces 2025 Third Quarter Earnings

About this update from First Busey Corporation

[{"type":"text","content":"LEAWOOD, Kan., Oct. 28, 2025 (GLOBE NEWSWIRE) -- First Busey Corporation (Nasdaq: BUSE) Announces 2025 Third Quarter Earnings. Net Income Diluted EPS Net Interest Margin(1) ROAA(1) ROATCE(1)$57.1 million$62.5 million (adj)(2) $0.58$0.64 (adj)(2) 3.58%3.45% (adj)(2) 1.21%1.33% (adj)(2) 11.96%13.20% (adj)(2) MESSAGE FROM OUR CHAIRMAN & CEOWe continued to optimize our balance sheet to be more efficient and profitable with adjusted return on average assets(2) improving to 1.33% and net interest margin(2) expanding 9 basis points to 3.58% in the third quarter, driven by the intentional runoff of $794.6 million high-cost, non-relationship deposits with a weighted average cost of 4.45%. Deposit costs continued to fall as spot deposit cost at the end of the quarter improved 21 basis points to 2.01%, an 84% beta versus the September rate cut. Capital remained strong and Common Equity Tier 1 Capital(3) grew to 12.33%. Tangible common equity to tangible assets(2) grew to 9.9%, with tangible book value per common share(2) increasing 10.1% since year end even as we continued to repurchase stock at attractive levels. Credit quality showed improvement with classified assets as a percentage of capital falling to 7.0% and net charge-offs at 0.17%. Loan balances fell modestly as higher than anticipated payoffs impacted the quarter. As we look ahead to the end of the year, we expect our balance sheet optimization to be largely complete and for relative stability in loans and deposits as we continue to execute on our disciplined organic growth strategy. Van A. DukemanChairman and Chief Executive Officer FINANCIAL RESULTS Third quarter 2025 net income for First Busey Corporation, together with its consolidated subsidiaries (“Busey,” the “Company,” “we,” “us,”, or “our”) was $57.1 million, or $0.58 per diluted common share, compared to $47.4 million, or $0.52 per diluted common share, for the second quarter of 2025, and $32.0 million, or $0.55 per diluted common share, for the third quarter of 2024. Annualized return on average assets and annualized return on average tangible common equity(2) were 1.21% and 11.96%, respectively, for the third quarter of 2025. CONDENSED CONSOLIDATED STATEMENTS OF INCOME (unaudited) Three Months Ended Nine Months Ended(dollars in thousands, except per share amounts) September 30,2025 June 30,2025 September 30,2024 Sept...

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