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First Busey Corporation

BUSE

First Busey Corporation • NASDAQ
$23.54 ▼ -0.93% (-0.22)
Market Cap $2.08 B
52w High $27.29
52w Low $18.40
Dividend Yield 1.00%
P/E 17.83
Volume 217.83K
Outstanding Shares 88.41M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $285.703M ▼ $120.018M ▼ $57.098M ▲ 19.985% ▲ $0.84 ▲ $85.391M ▲
Q2-2025 $292.309M ▲ $127.833M ▲ $47.404M ▲ 16.217% ▲ $0.53 ▲ $72.697M ▲
Q1-2025 $188.038M ▲ $115.171M ▲ $-29.99M ▼ -15.949% ▼ $-0.44 ▼ $-26.769M ▼
Q4-2024 $165.689M ▼ $77.319M ▲ $28.105M ▼ 16.963% ▼ $0.49 ▼ $42.318M ▼
Q3-2024 $170.451M $75.926M $32.004M 18.776% $0.56 $47.446M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $430.027M ▼ $18.189B ▼ $15.74B ▼ $2.449B ▲
Q2-2025 $796.29M ▼ $18.919B ▼ $16.506B ▼ $2.413B ▲
Q1-2025 $1.286B ▼ $19.464B ▲ $17.285B ▲ $2.18B ▲
Q4-2024 $1.927B ▼ $12.047B ▲ $10.663B ▲ $1.383B ▼
Q3-2024 $2.372B $11.987B $10.584B $1.403B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $57.098M ▲ $62.486M ▲ $356.705M ▲ $-786.069M ▼ $-366.878M ▲ $54.48M ▲
Q2-2025 $47.404M ▲ $49.516M ▲ $112.185M ▼ $-609.641M ▼ $-447.94M ▼ $45.879M ▲
Q1-2025 $-29.99M ▼ $8.378M ▼ $610.219M ▲ $-115.964M ▼ $502.633M ▲ $6.526M ▼
Q4-2024 $28.105M ▼ $52.306M ▼ $38.985M ▼ $52.659M ▲ $143.95M ▼ $50.38M ▼
Q3-2024 $32.004M $60.136M $267.988M $-59.684M $268.44M $59.148M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Asset Management
Asset Management
 $30.00M ▲$20.00M ▼$20.00M ▲$20.00M ▲
Other Service Charges On Deposit Accounts
Other Service Charges On Deposit Accounts
 $0 ▲$0 ▲$0 ▲$0 ▲
Technology Service
Technology Service
 $10.00M ▲$10.00M ▲$0 ▼$10.00M ▲
Banking
Banking
 $20.00M ▲$0 ▼$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has grown steadily over the past five years, showing that the bank is expanding its business base rather than shrinking it. However, profits have not grown at the same pace. Earnings were strongest a couple of years ago and have softened a bit more recently, suggesting that higher funding costs, credit provisions, or operating expenses are pressuring margins. Overall, this looks like a franchise that continues to generate solid, repeatable income, but with profitability that has leveled off rather than continuing to climb.

Balance Sheet

Balance Sheet The balance sheet appears generally conservative and steady. Total assets have edged down slightly from their peak, which can signal a more selective approach to growth. Debt rose earlier in the period and has since been scaled back, while shareholder equity has been gradually rebuilt, pointing to a focus on capital strength. Cash levels move around from year to year, but do not suggest liquidity stress. Overall, the profile fits the company’s own “fortress balance sheet” description: not flashy, but built for resilience.

Cash Flow

Cash Flow Cash generation is a quiet strength here. Operating cash flow has been very consistent over time, and free cash flow closely tracks it, because the business requires relatively modest capital spending. That means most of the cash produced by the franchise is available for dividends, buybacks, or acquisitions rather than heavy reinvestment in physical assets. The stability of cash flow contrasts somewhat with the modest pressure on earnings, which is typical for a mature, well-established bank.

Competitive Edge

Competitive Edge First Busey competes as a diversified regional bank with three legs to the stool: traditional banking, wealth management, and its FirsTech payments arm. This mix gives it multiple income streams and makes it less dependent on basic lending alone. Longstanding community relationships, strong customer satisfaction scores, and a mainly core deposit base provide a durable foundation that many smaller banks lack. At the same time, it faces the usual pressures of regional banks: competition from national banks and digital-only players, plus the need to manage credit quality and funding costs through the interest-rate cycle. The recent expansion into faster-growing metropolitan areas via acquisition could strengthen its position if integrated well, but it also adds execution and cultural risks.

Innovation and R&D

Innovation and R&D Instead of pouring money into pure in-house R&D, First Busey uses a blended approach: it owns a specialist fintech subsidiary (FirsTech) and partners with external technology providers. FirsTech gives the bank a differentiated offering in payment processing, especially for bill-heavy industries, and helps it stand out from typical community banks that simply resell third-party solutions. Partnerships with platforms like nCino and CorServ show a clear push toward automation, digital lending workflows, and more modern card and treasury capabilities. The focus is less on experimental “moonshots” and more on practical, efficiency-boosting technology that can scale with acquisitions and deepen relationships across banking, wealth, and payments.

Summary

First Busey looks like a steady, conservatively run regional financial group that has deliberately broadened its business model beyond basic banking. Revenues have grown and cash flows are stable, but earnings have flattened, reflecting a tougher operating environment and possibly higher costs to fund that growth. The balance sheet and deposit base aim for durability rather than aggression, which has been valuable during periods of sector stress. Its main differentiators are the combination of community-bank roots, a sizable wealth management arm, and the FirsTech payments platform, all supported by targeted technology partnerships. The recent move into larger, faster-growing markets could be an important long-term growth lever, but brings integration and credit-cycle risk. Overall, this is a franchise built more for resilience and incremental improvement than for rapid, high-risk expansion, with future performance likely to hinge on how well it integrates acquisitions and continues to execute on its digital and payments strategy.

NEWS

October 28, 2025 · 5:00 PM UTC

First Busey Corporation Announces 2025 Third Quarter Earnings

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