Regional lender First Busey's Q3 net income rises as credit quality improves

First Busey

28/10/2025 21:11

Overview

First Busey Q3 net income rises to $57.1 mln, up from $47.4 mln in Q2 2025

Company repurchased 580,000 shares for $13.5 mln, indicating financial confidence

Outlook

First Busey expects balance sheet optimization to be largely complete by year-end

Company anticipates continued pressure from commercial real estate payoffs in 2025

First Busey remains focused on managing expenses efficiently as business grows

Result Drivers

BALANCE SHEET OPTIMIZATION - Co reduced high-cost deposits by $794.6 mln, improving net interest margin by 9 basis points

CREDIT QUALITY IMPROVEMENT - Classified assets as a percentage of capital fell to 7.0%, with net charge-offs at 0.17%

LOAN BALANCE DECLINE - Higher than anticipated payoffs led to a modest fall in loan balances

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q3 EPS
$0.58
Q3 Net Income
$57.09 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the banks peer group is "buy"

Wall Street's median 12-month price target for First Busey Corp is $27.00, about 14.1% above its October 27 closing price of $23.20

The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 9 three months ago

Press Release: ID:nGNX358ZTF

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)