FIRST BUSEY CORP NV
For the period ended Mar 31, 2024. Filed May 7, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 7, 2024
BUSE$29.11-0.1%Stored close · as of Nov 10, 2026
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CONSOLIDATED STATEMENTS OF INCOME (Unaudited)
(dollars in thousands, except per share amounts)
| Three Months Ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Interest income | ||
| Interest and fees on loans | $99,325 | $89,775 |
| Interest and dividends on investment securities: | ||
| Taxable interest income | 19,597 | 19,599 |
| Non-taxable interest income | 340 | 743 |
| Other interest income | 6,471 | 988 |
| Total interest income | 125,733 | 111,105 |
| Interest expense | ||
| Deposits | 43,968 | 14,740 |
| Federal funds purchased and securities sold under agreements to repurchase | 1,372 | 1,222 |
| Short-term borrowings | 232 | 4,822 |
| Long-term debt | 296 | 454 |
| Subordinated notes | 3,109 | 3,097 |
| Junior subordinated debt owed to unconsolidated trusts | 989 | 913 |
| Total interest expense | 49,966 | 25,248 |
| Net interest income | 75,767 | 85,857 |
| Provision for credit losses | 5,038 | 953 |
| Net interest income after provision for credit losses | 70,729 | 84,904 |
| Noninterest income | ||
| Wealth management fees | 15,549 | 14,797 |
| Fees for customer services | 7,056 | 6,819 |
| Payment technology solutions | 5,709 | 5,315 |
| Mortgage revenue | 746 | 288 |
| Income on bank owned life insurance | 1,419 | 1,652 |
| Realized gain on the sale of mortgage servicing rights | 7,465 | — |
| Realized net gains (losses) on securities | (6,802) | 4 |
| Unrealized net gains (losses) recognized on equity securities | 427 | (620) |
| Other income | 3,431 | 3,593 |
| Total noninterest income | 35,000 | 31,848 |
| Noninterest expense | ||
| Salaries, wages, and employee benefits | 42,090 | 40,331 |
| Data processing | 6,550 | 5,640 |
| Net occupancy expense of premises | 4,720 | 4,762 |
| Furniture and equipment expenses | 1,813 | 1,746 |
| Professional fees | 2,253 | 2,058 |
| Amortization of intangible assets | 2,409 | 2,729 |
| Interchange expense | 1,611 | 1,853 |
| FDIC insurance | 1,400 | 1,502 |
| Other expense | 7,923 | 9,782 |
| Total noninterest expense | 70,769 | 70,403 |
| Income before income taxes | 34,960 | 46,349 |
| Income taxes | 8,735 | 9,563 |
| Net income | $26,225 | $36,786 |
| Basic earnings per common share | $0.47 | $0.66 |
| Diluted earnings per common share | $0.46 | $0.65 |
| Dividends declared per share of common stock | $0.24 | $0.24 |
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