First Busey Corporation Reports Strong Fourth Quarter 2024 Results

CHAMPAIGN, Ill., Jan. 28, 2025 (GLOBE NEWSWIRE) —

First Busey Corporation (Nasdaq: BUSE) announced their latest financial results for the fourth quarter of 2024, showcasing impressive numbers across various key metrics. The company reported a net income of $28.1 million, with diluted earnings per share coming in at $0.49.

Key Highlights from the Fourth Quarter 2024:

1. Adjusted net income of $30.7 million, translating to $0.53 per diluted common share

2. Achieved adjusted noninterest income of $35.4 million, accounting for 30.3% of total revenue

3. Set a new record for quarterly and annual revenue of $17.0 million and $65.0 million, respectively, for the Wealth Management segment

4. Tangible book value per common share stood at $17.88 as of December 31, 2024, marking a 7.6% year-over-year increase

5. Witnessed growth in tangible common equity to 8.76% of tangible assets by December 31, 2024

6. Secured stockholder approvals for the CrossFirst Bankshares, Inc. merger in December 2024, followed by regulatory approvals in January 2025

For more detailed insights, interested individuals are encouraged to refer to the 4Q24 Earnings Investor Presentation.

How Will This Impact Me?

The impressive financial results reported by First Busey Corporation signify a strong performance by the company, which can have potential positive implications for its stakeholders. As a customer or investor, these robust numbers may instill confidence in the company’s stability and growth prospects, potentially leading to enhanced trust and satisfaction in your relationship with First Busey Corporation.

How Will This Impact the World?

On a broader scale, First Busey Corporation’s strong financial performance can contribute to the overall health of the banking and financial services sector. By demonstrating growth and profitability, the company sets a positive example for its peers and may influence industry trends and standards. Additionally, successful mergers like the one with CrossFirst Bankshares, Inc. can signal a dynamic and evolving market landscape, potentially leading to increased competition and innovation within the sector.

Conclusion:

First Busey Corporation’s stellar fourth-quarter results reflect a well-managed and thriving financial institution poised for continued success. The company’s achievements not only benefit its stakeholders directly but also have the potential to impact the broader financial sector, setting a positive tone for future developments and growth.